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Exhibit 12—page 1 of 2

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)

			Years ended December 31,
			2003			2002			2001
Earnings (loss) before income taxes, minority share owners' interests and cumulative effect of accounting change			$	(1,090.7	)	$	1.2		$	660.6
Less: Equity earnings				(27.1	)		(27.0	)		(19.4	)
Add: Total fixed charges deducted from earnings				501.4			449.8			454.9
	Proportional share of pre-tax earnings of 50% owned associates			8.1			13.3			10.4
	Dividends received from less than 50% owned associates			31.1			29.2			18.2
		Earnings available for payment of fixed charges	$	(577.2	)	$	466.5		$	1,124.7
Fixed charges (including the Company's proportional share of 50% owned associates):
	Interest expense		$	467.1		$	414.0		$	420.7
	Portion of operating lease rental deemed to be interest			10.8			12.7			14.3
	Amortization of deferred financing costs and debt discount expense			23.5			23.1			19.9
		Total fixed charges deducted from earnings	$	501.4		$	449.8		$	454.9
Preferred stock dividends (increased to assumed pre-tax amount)				30.3			30.7			36.7
Combined fixed charges and preferred stock dividends			$	531.7		$	480.5		$	491.6
Ratio of earnings to fixed charges							1.0			2.5
Deficiency of earnings available to cover fixed charges				1,078.6
Ratio of earnings to combined fixed charges and preferred stock dividends										2.3
Deficiency of earnings available to cover combined fixed charges and preferred stock dividends				1,108.9			14.0

EXHIBIT 12—Page 2 of 2

				Years ended December 31,
				2000			1999
Earnings before income taxes and minority share owners' interests				$	(391.6	)	$	496.6
Less: Equity earnings					(19.8	)		(22.3	)
Add: Total fixed charges deducted from earnings					499.2			453.6
	Proportional share of pre-tax earnings of 50% owned associates				11.0			10.6
	Dividends received from less than 50% owned associates				14.5			9.8
		Earnings available for payment of fixed charges		$	113.3		$	948.3
Fixed charges (including the Company's proportional share of 50% owned associates):
		Interest expense		$	476.6		$	418.2
		Portion of operating lease rental deemed to be interest			12.5			26.5
		Amortization of deferred financing costs and debt discount expense			10.1			8.9
			Total fixed charges deducted from earnings	$	499.2		$	453.6
Preferred stock dividends (increased to assumed pre-tax amount)					21.7			35.5
Combined fixed charges and preferred stock dividends				$	520.9		$	489.1
Ratio of earnings to fixed charges								2.1
Deficiency of earnings available to cover fixed charges					385.9
Ratio of earnings to combined fixed charges and preferred stock dividends								1.9
Deficiency of earnings available to cover combined fixed charges and preferred stock dividends					407.6

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Exhibit 12