EX-12 4 a2086392zex-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 (Dollars in millions)
Six months ended June 30, -------------------------- 2002 2001 -------- ------- Earnings (loss) before income taxes, and minority share owners' interests............... $ (215.8) $ 523.0 Less: Equity earnings................................................................. (12.2) (8.9) Add: Total fixed charges deducted from earnings...................................... 213.2 236.8 Proportional share of pre-tax earnings (loss) of 50% owned associates 7.1 5.7 Dividends received from less than 50% owned associates.......................... 4.8 6.3 -------- ------- Earnings (loss) available for payment of fixed charges.......................... $(2.9) $ 762.9 ======== ======= Fixed charges (including the Company's proportional share of 50% owned associates): Interest expense................................................................ $ 195.6 $ 225.3 Portion of operating lease rental deemed to be interest......................... 6.1 6.4 Amortization of deferred financing costs and debt discount expense.............. 11.5 5.1 -------- ------- Total fixed charges deducted from earnings and fixed charges 213.2 236.8 Preferred stock dividends (increased to assumed pre-tax amount)......................... 15.7 18.6 -------- ------- Combined fixed charges and preferred stock dividends.................................... $ 228.9 $ 255.4 ======== ======= Deficiency of earnings available to cover fixed charges................................. $ 216.1 Ratio of earnings to fixed charges 3.22 Deficiency of earnings available to cover combined fixed charges and preferred stock dividends............................................................................ $ 231.8 Ratio of earnings to combined fixed charges and preferred stock dividends............... 2.99