EX-12 2 oi-20170930ex126c2fa54.htm EX-12 oi_Ex_12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30

 

 

    

2017

    

2016

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$
396

 

$
395

 

Less: Equity earnings

 

 
(55)

 

 
(44)

 

Add: Total fixed charges deducted from earnings

 

 
214

 

 
208

 

Dividends received from equity investees

 

 
31

 

 
30

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$
586

 

$
589

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
211

 

$
204

 

Portion of operating lease rental deemed to be interest

 

 
3

 

 
4

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$
214

 

$
208

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
2.7

 

 
2.8