EX-12 2 oi-20180331ex12ebcdd47.htm EX-12 oi_Ex_12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31

 

 

    

2018

    

2017

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$
135

 

$
73

 

Less: Equity earnings

 

 
(17)

 

 
(15)

 

Add: Total fixed charges deducted from earnings

 

 
65

 

 
82

 

Dividends received from equity investees

 

 
30

 

 
3

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$
213

 

$
143

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
64

 

$
81

 

Portion of operating lease rental deemed to be interest

 

 
1

 

 
1

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$
65

 

$
82

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
3.3

 

 
1.7