EX-12 2 oi-20180630ex124a97986.htm EX-12 oi_Ex_12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

Six months ended June  30

 

 

    

2018

    

2017

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$
213

 

$
224

 

Less: Equity earnings

 

 
(38)

 

 
(33)

 

Add: Total fixed charges deducted from earnings

 

 
142

 

 
148

 

Dividends received from equity investees

 

 
48

 

 
24

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$
365

 

$
363

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
140

 

$
146

 

Portion of operating lease rental deemed to be interest

 

 
2

 

 
2

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$
142

 

$
148

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
2.6

 

 
2.5