EX-12 2 oi-20180630ex124a97986.htm EX-12

EXHIBIT 12

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

|  | Six months ended June 30 |
|  | 2018 |  | 2017 |
Earnings from continuing operations before income taxes |  | $ | 213 |  | $ | 224 |
Less: Equity earnings |  |  | (38) |  |  | (33) |
Add: Total fixed charges deducted from earnings |  |  | 142 |  |  | 148 |
Dividends received from equity investees |  |  | 48 |  |  | 24 |
Earnings available for payment of fixed charges |  | $ | 365 |  | $ | 363 |
Fixed charges |  |  |  |  |  |  |
Interest expense |  | $ | 140 |  | $ | 146 |
Portion of operating lease rental deemed to be interest |  |  | 2 |  |  | 2 |
Total fixed charges deducted from earnings and fixed charges |  | $ | 142 |  | $ | 148 |
Ratio of earnings to fixed charges |  |  | 2.6 |  |  | 2.5 |