EX-12 2 a14-13845_1ex12.htm EX-12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

Six months ended June 30,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

313

 

$

294

 

Less:

Equity earnings

 

(35

)

(33

)

Add:

Total fixed charges deducted from earnings

 

112

 

131

 

 

Dividends received from equity investees

 

33

 

36

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$

423

 

$

428

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

111

 

$

128

 

 

Portion of operating lease rental deemed to be interest

 

1

 

3

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$

112

 

$

131

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.8

 

3.3