EX-12 2 a13-24496_1ex12.htm EX-12

EXHIBIT 12

 

OWENS-ILLINOIS GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Millions of dollars, except ratios)

 

 

 

Years ended December 31,

 

 

 

2013

 

2012

 

2011

 

2010

 

2009

 

Earnings (loss) from continuing operations before income taxes

 

$

480

 

$

483

 

$

(231

)

$

596

 

$

396

 

Less: Equity earnings

 

(67

)

(64

)

(66

)

(59

)

(53

)

Add: Total fixed charges deducted from earnings

 

242

 

257

 

320

 

260

 

228

 

Dividends received from equity investees

 

67

 

50

 

50

 

62

 

34

 

Earnings available for payment of fixed charges

 

$

722

 

$

726

 

$

73

 

$

859

 

$

605

 

Fixed charges (including the Company’s proportional share of 50% owned associates):

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

239

 

$

248

 

$

314

 

$

249

 

$

222

 

Portion of operating lease rental deemed to be interest

 

3

 

9

 

6

 

11

 

6

 

Total fixed charges deducted from earnings and total fixed charges

 

$

242

 

$

257

 

$

320

 

$

260

 

$

228

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.0

 

2.8

 

 

 

3.3

 

2.7

 

Deficiency of earnings available to cover fixed charges

 

 

 

 

 

$

247