EX-12 3 oi-20161231ex123bb6d4c.htm EX-12 oi_Ex_12

EXHIBIT 12

OWENS‑ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Millions of dollars, except ratios)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

2016

 

2015

 

2014

 

2013

Earnings from continuing operations before income taxes

    

$
356

    

$
268

    

$
307

    

$
468

Less: Equity earnings

 

 
(60)

 

 
(60)

 

 
(64)

 

 
(67)

Add: Total fixed charges deducted from earnings

 

 
284

 

 
264

 

 
238

 

 
242

Dividends received from equity investees

 

 
38

 

 
53

 

 
54

 

 
67

Earnings available for payment of fixed charges

 

$
618

 

$
525

 

$
535

 

$
710

Fixed charges (including the Company’s proportional share of 50% owned associates):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
279

 

$
259

 

$
235

 

$
239

Portion of operating lease rental deemed to be interest

 

 
5

 

 
5

 

 
3

 

 
3

Total fixed charges deducted from earnings

 

$
284

 

$
264

 

$
238

 

$
242

Ratio of earnings to fixed charges

 

 
2.2

 

 
2.0

 

 
2.2

 

 
2.9