EX-12 3 a2048893zex-12.txt EXHIBIT 12 EXHIBIT 12 OWENS-ILLINOIS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (MILLIONS OF DOLLARS, EXCEPT RATIOS)
THREE MONTHS ENDED MARCH 31, --------------------------- 2001 2000 ------------ ------------ Earnings before income taxes, and minority share owners' interests................................................. $ 81.0 $101.3 Less: Equity earnings...................................... (3.6) (3.3) Add: Total fixed charges deducted from earnings............ 116.8 122.1 Proportional share of pre-tax earnings (loss) of 50% owned associates.................................... 3.0 2.4 Dividends received from less than 50% owned associates................................................ 4.7 -- ------ ------ Earnings available for payment of fixed charges....... $201.9 $222.5 ====== ====== Fixed charges (including the Company's proportional share of 50% owned associates): Interest expense...................................... $111.0 $112.7 Portion of operating lease rental deemed to be interest.................................................. 3.3 6.9 Amortization of deferred financing costs and debt discount expense.................................... 2.5 2.5 ------ ------ Total fixed charges deducted from earnings and fixed charges................................................... 116.8 122.1 Preferred stock dividends (increased to assumed pre-tax amount)................................................... 8.1 8.6 ------ ------ Combined fixed charges and preferred stock dividends........ $124.9 $130.7 ====== ====== Ratio of earnings to fixed charges.......................... 1.73 1.82 Ratio of earnings to combined fixed charges and preferred stock dividends........................................... 1.62 1.70