EX-12 2 ow-20160630ex12b7da181.htm EX-12 ow_Ex_12

EXHIBIT 12

 

OWENS-ILLINOIS GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30,

 

 

    

2016

    

2015

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$
242 

 

$
162 

 

Less: Equity earnings

 

 
(29)

 

 
(29)

 

Add: Total fixed charges deducted from earnings

 

 
139 

 

 
126 

 

Dividends received from equity investees

 

 
23 

 

 
33 

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$
375 

 

$
292 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
136 

 

$
124 

 

Portion of operating lease rental deemed to be interest

 

 
3 

 

 
2 

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$
139 

 

$
126 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
2.7 

 

 
2.3