EX-12 2 a2218189zex-12.htm EX-12
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EXHIBIT 12

OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)

		Years ended December 31,
		2013			2012			2011			2010			2009
Earnings (loss) from continuing operations before income taxes		$	335		$	328		$	(396	)	$	426		$	216
Less: Equity earnings			(67	)		(64	)		(66	)		(59	)		(53	)
Add: Total fixed charges deducted from earnings			242			257			320			260			228
Dividends received from equity investees			67			50			50			62			34
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Earnings available for payment of fixed charges		$	577		$	571		$	(92	)	$	689		$	425
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Fixed charges (including the Company's proportional share of 50% owned associates):
Interest expense		$	239		$	248		$	314		$	249		$	222
Portion of operating lease rental deemed to be interest			3			9			6			11			6
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total fixed charges deducted from earnings		$	242		$	257		$	320		$	260		$	228
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Ratio of earnings to fixed charges			2.4			2.2						2.7			1.9
Deficiency of earnings available to cover fixed charges								$	412

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EXHIBIT 12

OWENS-ILLINOIS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars, except ratios)