EX-12 4 oi-20150930ex12e921e5e.htm EX-12

EXHIBIT 12

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

|  | Nine months ended September 30, |
|  | 2015 |  | 2014 |
Earnings from continuing operations before income taxes |  | $ | 220 |  | $ | 404 |
Less: Equity earnings |  |  | (46) |  |  | (48) |
Add: Total fixed charges deducted from earnings |  |  | 194 |  |  | 165 |
Dividends received from equity investees |  |  | 13 |  |  | 44 |
Earnings available for payment of fixed charges |  | $ | 381 |  | $ | 565 |
Fixed charges |  |  |  |  |  |  |
Interest expense |  | $ | 192 |  | $ | 164 |
Portion of operating lease rental deemed to be interest |  |  | 2 |  |  | 1 |
Total fixed charges deducted from earnings and fixed charges |  | $ | 194 |  | $ | 165 |
Ratio of earnings to fixed charges |  |  | 2.0 |  |  | 3.4 |