EX-12 5 a2080087zex-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, ---------------------------- 2002 2001 --------- ---------- Earnings before income taxes, and minority share owners' interests .............................. $ (365.8) $ 81.0 Less: Equity earnings............................ (6.0) (3.6) Add: Total fixed Charges deducted from earnings 104.0 116.8 Proportional share of pre-tax earnings (loss) of 50% owned associates .......... 3.5 3.0 Dividends received from less than 50% owned associates .............................. 2.5 4.7 --------- -------- Earnings available for payment of fixed charges $ (261.8) $ 201.9 ========= ======== Fixed charges (including the Company's proportional share of 50% owned associates): Interest expense .......................... $ 95.2 $ 111.0 Portion of operating lease rental deemed to be interest ............................. 3.1 3.3 Amortization of deferred financing costs and debt discount expense ............... 5.7 2.5 --------- -------- Total fixed charges deducted from earnings and fixed charges ....................... 104.0 116.8 Preferred stock dividends (increased to assumed pre-tax amount) ............................... 7.9 8.1 --------- -------- Combined fixed charges and preferred stock dividends ...................................... $ 111.9 $ 124.9 ========= ======== Deficiency of earnings available to cover fixed charges ................................ $ 365.8 Ratio of earnings to fixed charges ................ 1.73 Deficiency of earnings available to cover combined fixed charges and preferred stock dividends $ 373.7 Ratio of earnings to combined fixed charges and preferred stock dividends ...................... 1.62
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