EX-12 8 a2063263zex-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)
Nine Months ended September 30, ------------------------------- 2001 2000 -------- --------- Earnings (loss) before income taxes, and minority share owners' interests ................................ $ 646.6 $ (439.7) Less: Equity earnings ..................................... (13.7) (14.6) Add: Total fixed charges deducted from earnings ........... 345.2 382.0 Proportional share of pre-tax earnings (loss) of 50% owned associates ..................... 8.3 8.2 Dividends received from less than 50% owned associates .................... 7.5 5.9 -------- -------- Earnings (loss) available for payment of fixed charges ............................ $ 993.9 $ (58.2) ====== ====== Fixed charges (including the Company's proportional share of 50% owned associates): Interest expense ............................... $ 322.4 $ 353.2 Portion of operating lease rental deemed to be interest .................................... 9.6 21.2 Amortization of deferred financing costs and debt discount expense .......................... 13.2 7.6 -------- -------- Total fixed charges deducted from earnings and fixed charges ........................... $ 345.2 $ 382.0 Preferred stock dividends (increased to assumed pre-tax amount) ........................................ 27.2 26.0 -------- -------- Combined fixed charges and preferred stock dividends .............................................. $ 372.4 $ 408.0 ======== ======== Ratio of earnings to fixed charges ........................ 2.9 Deficiency of earnings available to cover fixed charges ... -- 440.2 Ratio of earnings to combined fixed charges and preferred stock dividends .............................. 2.7 Deficiency of earnings available to cover fixed charges and preferred stock dividends .............................. 466.2
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