EX-12 2 oi-20160930ex122ca6a81.htm EX-12

EXHIBIT 12

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

|  | Nine months ended September 30, |
|  | 2016 |  | 2015 |
Earnings from continuing operations before income taxes |  | $ | 395 |  | $ | 220 |
Less: Equity earnings |  |  | (44) |  |  | (46) |
Add: Total fixed charges deducted from earnings |  |  | 208 |  |  | 197 |
Dividends received from equity investees |  |  | 30 |  |  | 44 |
Earnings available for payment of fixed charges |  | $ | 589 |  | $ | 415 |
Fixed charges |  |  |  |  |  |  |
Interest expense |  | $ | 204 |  | $ | 192 |
Portion of operating lease rental deemed to be interest |  |  | 4 |  |  | 5 |
Total fixed charges deducted from earnings and fixed charges |  | $ | 208 |  | $ | 197 |
Ratio of earnings to fixed charges |  |  | 2.8 |  |  | 2.1 |