EX-12 4 ow-20170331ex12ddae7ab.htm EX-12 ow_Ex_12

EXHIBIT 12

 

OWENS-ILLINOIS GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

 

    

2017

    

2016

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$
73

 

$
101

 

Less: Equity earnings

 

 
(15)

 

 
(14)

 

Add: Total fixed charges deducted from earnings

 

 
82

 

 
69

 

Dividends received from equity investees

 

 
3

 

 
3

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$
143

 

$
159

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
81

 

$
68

 

Portion of operating lease rental deemed to be interest

 

 
1

 

 
1

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$
82

 

$
69

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
1.7

 

 
2.3