EX-12 2 a14-6455_1ex12.htm EX-12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

Three months ended March 31,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

134

 

$

117

 

Less:

Equity earnings

 

(16

)

(17

)

Add:

Total fixed charges deducted from earnings

 

56

 

72

 

Dividends received from equity investees

 

14

 

15

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$

188

 

$

187

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

55

 

$

71

 

Portion of operating lease rental deemed to be interest

 

1

 

1

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$

56

 

$

72

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.4

 

2.6