EX-12 4 oi-20170331ex12a7dfa93.htm EX-12

EXHIBIT 12

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

|  | Three months ended March 31 |
|  | 2017 |  | 2016 |
Earnings from continuing operations before income taxes |  | $ | 73 |  | $ | 101 |
Less: Equity earnings |  |  | (15) |  |  | (14) |
Add: Total fixed charges deducted from earnings |  |  | 82 |  |  | 69 |
Dividends received from equity investees |  |  | 3 |  |  | 3 |
Earnings available for payment of fixed charges |  | $ | 143 |  | $ | 159 |
Fixed charges |  |  |  |  |  |  |
Interest expense |  | $ | 81 |  | $ | 68 |
Portion of operating lease rental deemed to be interest |  |  | 1 |  |  | 1 |
Total fixed charges deducted from earnings and fixed charges |  | $ | 82 |  | $ | 69 |
Ratio of earnings to fixed charges |  |  | 1.7 |  |  | 2.3 |