EX-12 2 a2222968zex-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, |
--- | --- | --- | ---
|  | 2014 |  | 2013 |  | 2012 |  | 2011 |  | 2010 |
Earnings (loss) from continuing operations before income taxes |  | $ | 218 |  | $ | 335 |  | $ | 328 |  | $ | (396 | ) | $ | 426 |
Less: Equity earnings |  |  | (64 | ) |  | (67 | ) |  | (64 | ) |  | (66 | ) |  | (59 | )
Add: Total fixed charges deducted from earnings |  |  | 238 |  |  | 242 |  |  | 257 |  |  | 320 |  |  | 260 |
Dividends received from equity investees |  |  | 54 |  |  | 67 |  |  | 50 |  |  | 50 |  |  | 62 |
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Earnings available for payment of fixed charges |  | $ | 446 |  | $ | 577 |  | $ | 571 |  | $ | (92 | ) | $ | 689 |
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Fixed charges (including the Company's proportional share of 50% owned associates): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | 235 |  | $ | 239 |  | $ | 248 |  | $ | 314 |  | $ | 249 |
Portion of operating lease rental deemed to be interest |  |  | 3 |  |  | 3 |  |  | 9 |  |  | 6 |  |  | 11 |
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Total fixed charges deducted from earnings |  | $ | 238 |  | $ | 242 |  | $ | 257 |  | $ | 320 |  | $ | 260 |
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Ratio of earnings to fixed charges |  |  | 1.9 |  |  | 2.4 |  |  | 2.2 |  |  |  |  |  | 2.7 |
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)