EX-12 2 a12-18930_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,

 

 

 

2012

 

2011

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

476

 

$

373

 

Less: Equity earnings

 

(47

)

(52

)

Add: Total fixed charges deducted from earnings

 

191

 

250

 

Dividends received from equity investees

 

41

 

38

 

Earnings available for payment of fixed charges

 

$

661

 

$

609

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

187

 

$

246

 

Portion of operating lease rental deemed to be interest

 

4

 

4

 

Total fixed charges deducted from earnings and fixed charges

 

$

191

 

$

250

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.5

 

2.4

 

 

1