EX-12 2 oi-20160630ex12b434846.htm EX-12

EXHIBIT 12

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

|  | Six months ended June 30, |
|  | 2015 |  | 2014 |
Earnings from continuing operations before income taxes |  | $ | 242 |  | $ | 162 |
Less: Equity earnings |  |  | (29) |  |  | (29) |
Add: Total fixed charges deducted from earnings |  |  | 139 |  |  | 126 |
Dividends received from equity investees |  |  | 23 |  |  | 33 |
Earnings available for payment of fixed charges |  | $ | 375 |  | $ | 292 |
Fixed charges |  |  |  |  |  |  |
Interest expense |  | $ | 136 |  | $ | 124 |
Portion of operating lease rental deemed to be interest |  |  | 3 |  |  | 2 |
Total fixed charges deducted from earnings and fixed charges |  | $ | 139 |  | $ | 126 |
Ratio of earnings to fixed charges |  |  | 2.7 |  |  | 2.3 |