EX-12 2 a13-19279_1ex12.htm EX-12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

Nine months ended September 30,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

472

 

$

476

 

Less: Equity earnings

 

(49

)

(47

)

Add: Total fixed charges deducted from earnings

 

187

 

191

 

Dividends received from equity investees

 

52

 

41

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$

662

 

$

661

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

184

 

$

187

 

Portion of operating lease rental deemed to be interest

 

3

 

4

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$

187

 

$

191

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.5

 

3.5