EX-12 2 a11-25568_1ex12.htm EX-12

Exhibit 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

Nine months ended September 30,

 

 

 

2011

 

2010

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

363

 

$

505

 

Less:

Equity earnings

 

(52

)

(46

)

Add:

Total fixed charges deducted from earnings

 

250

 

182

 

 

Dividends received from equity investees

 

38

 

51

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$

599

 

$

692

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

246

 

$

177

 

 

Portion of operating lease rental deemed to be interest

 

4

 

5

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$

250

 

$

182

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.4

 

3.8