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EXHIBIT 12.1
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
| | Nine months ended September 30, | ||||||
---|---|---|---|---|---|---|---|---|
| | 2002 | 2001 | |||||
Earnings before income taxes, and minority share owners' interests | $ | 410.1 | $ | 646.6 | ||||
Less: | Equity earnings | (19.8 | ) | (13.7 | ) | |||
Add: | Total fixed charges deducted from earnings | 323.4 | 345.2 | |||||
Proportional share of pre-tax earnings (loss) of 50% owned associates | 10.6 | 8.3 | ||||||
Dividends received from less than 50% owned associates | 7.8 | 7.5 | ||||||
Earnings available for payment of fixed charges | $ | 732.1 | $ | 993.9 | ||||
Fixed charges (including the Company's proportional share of 50% owned associates): | ||||||||
Interest expense | $ | 297.3 | $ | 322.4 | ||||
Portion of operating lease rental deemed to be interest | 9.4 | 9.6 | ||||||
Amortization of deferred financing costs and debt discount expense | 16.7 | 13.2 | ||||||
Total fixed charges deducted from earnings and fixed charges | $ | 323.4 | $ | 345.2 | ||||
Ratio of earnings to fixed charges | 2.3 | 2.9 |
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
| | Year ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2001 | 2000 | 1999 | 1998 | 1997 | |||||||||||
Earnings before income taxes, minority share owners' interests, and extraordinary items | $ | 667.2 | $ | 158.4 | $ | 497.8 | $ | 459.0 | $ | 452.3 | |||||||
Less: | Equity earnings | (19.4 | ) | (19.8 | ) | (22.3 | ) | (16.0 | ) | (17.9 | ) | ||||||
Add: | Total fixed charges deducted from earnings | 448.4 | 499.2 | 452.4 | 404.8 | 324.1 | |||||||||||
Proportional share of pre-tax earnings of 50% owned associates | 10.4 | 11.0 | 10.6 | 7.2 | 2.8 | ||||||||||||
Dividends received from less than 50% owned associates | 9.9 | 14.5 | 9.8 | 6.6 | 4.8 | ||||||||||||
Earnings available for payment of fixed charges | $ | 1,116.5 | $ | 663.3 | $ | 948.3 | $ | 861.1 | $ | 766.1 | |||||||
Fixed charges (including the Company's proportional share of 50% owned associates): | |||||||||||||||||
Interest expense | $ | 414.2 | $ | 476.6 | $ | 417.0 | $ | 372.6 | $ | 298.7 | |||||||
Portion of operating lease rental deemed to be interest | 14.3 | 12.5 | 26.5 | 24.8 | 21.3 | ||||||||||||
Amortization of deferred financing costs and debt discount expense | 19.9 | 10.1 | 8.9 | 7.4 | 4.1 | ||||||||||||
Total fixed charges deducted from earnings and fixed charges | $ | 448.4 | $ | 499.2 | $ | 452.4 | $ | 404.8 | $ | 324.1 | |||||||
Ratio of earnings to fixed charges | 2.5 | 1.3 | 2.1 | 2.1 | 2.4 |
OWENS-ILLINOIS GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars, except ratios)
OWENS-ILLINOIS GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars, except ratios)