EX-12 2 a15-6824_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, |
|  | 2015 |  | 2014 |
Earnings from continuing operations before income taxes |  | $ | 100 |  | $ | 134 |
Less: Equity earnings |  | (15 | ) | (16 | )
Add: Total fixed charges deducted from earnings |  | 50 |  | 56 |
Dividends received from equity investees |  |  |  | 14 |
Earnings available for payment of fixed charges |  | $ | 135 |  | $ | 188 |
Fixed charges |  |  |  |  |
Interest expense |  | $ | 49 |  | $ | 55 |
Portion of operating lease rental deemed to be interest |  | 1 |  | 1 |
Total fixed charges deducted from earnings and fixed charges |  | $ | 50 |  | $ | 56 |
Ratio of earnings to fixed charges |  | 2.7 |  | 3.4 |