QuickLinks -- Click here to rapidly navigate through this documentExhibit 12.1—page 1 of 3
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
| | Three months ended March 31,
| |
|---|
| | 2003
| | 2002
| |
|---|
| Earnings before income taxes, minority share owners' interests and cumulative effect of accounting change | | $ | 54.5 | | $ | 98.3 | |
| Less: Equity earnings | | | (5.8 | ) | | (6.0 | ) |
| Add: Total fixed charges deducted from earnings | | | 113.6 | | | 114.9 | |
| | Proportional share of pre-tax earnings of 50% owned associates | | | 2.8 | | | 3.5 | |
| | Dividends received from less than 50% owned associates | | | | | | 2.5 | |
| | |
| |
| |
| | Earnings available for payment of fixed charges | | $ | 165.1 | | $ | 213.2 | |
| | |
| |
| |
| Fixed charges (including the Company's proportional share of 50% owned associates): | | | | | | | |
| | Interest expense | | $ | 105.4 | | $ | 106.1 | |
| | Portion of operating lease rental deemed to be interest | | | 2.6 | | | 3.1 | |
| | Amortization of deferred financing costs and debt discount expense | | | 5.6 | | | 5.7 | |
| | |
| |
| |
| | Total fixed charges deducted from earnings and fixed charges | | $ | 113.6 | | $ | 114.9 | |
| | |
| |
| |
| Ratio of earnings to fixed charges | | | 1.5 | | | 1.9 | |
Exhibit 12.1—page 2 of 3
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
| | Years ended December 31,
| |
|---|
| | 2002
| | 2001
| | 2000
| |
|---|
| Earnings before income taxes, minority share owners' interests, and cumulative effect of accounting change | | $ | 476.2 | | $ | 660.6 | | $ | 158.4 | |
| Less: Equity earnings | | | (27.0 | ) | | (19.4 | ) | | (19.8 | ) |
| Add: Total fixed charges deducted from earnings | | | 449.8 | | | 454.9 | | | 499.2 | |
| | Proportional share of pre-tax earnings of 50% owned associates | | | 13.3 | | | 10.4 | | | 11.0 | |
| | Dividends received from less than 50% owned associates | | | 12.0 | | | 9.9 | | | 14.5 | |
| | |
| |
| |
| |
| | | Earnings available for payment of fixed charges | | $ | 924.3 | | $ | 1,116.4 | | $ | 663.3 | |
| | |
| |
| |
| |
| Fixed charges (including the Company's proportional share of 50% owned associates): | | | | | | | | | | |
| | Interest expense | | $ | 414.0 | | $ | 420.7 | | $ | 476.6 | |
| | Portion of operating lease rental deemed to be interest | | | 12.7 | | | 14.3 | | | 12.5 | |
| | Amortization of deferred financing costs and debt discount expense | | | 23.1 | | | 19.9 | | | 10.1 | |
| | |
| |
| |
| |
| | | Total fixed charges deducted from earnings | | $ | 449.8 | | $ | 454.9 | | $ | 499.2 | |
| | |
| |
| |
| |
| Ratio of earnings to fixed charges | | | 2.1 | | | 2.5 | | | 1.3 | |
EXHIBIT 12.1—Page 3 of 3
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
| | Years ended December 31,
| |
|---|
| | 1999
| | 1998
| |
|---|
| Earnings before income taxes and minority share owners' interests | | $ | 496.6 | | $ | 436.2 | |
| Less: Equity earnings | | | (22.3 | ) | | (16.0 | ) |
| Add: Total fixed charges deducted from earnings | | | 453.6 | | | 427.6 | |
| | Proportional share of pre-tax earnings of 50% owned associates | | | 10.6 | | | 7.2 | |
| | Dividends received from less than 50% owned associates | | | 9.8 | | | 6.6 | |
| | |
| |
| |
| | | Earnings available for payment of fixed charges | | $ | 948.3 | | $ | 861.6 | |
| | |
| |
| |
| Fixed charges (including the Company's proportional share of 50% owned associates): | | | | | | | |
| | Interest expense | | $ | 418.2 | | $ | 395.4 | |
| | Portion of operating lease rental deemed to be interest | | | 26.5 | | | 24.8 | |
| | Amortization of deferred financing costs and debt discount expense | | | 8.9 | | | 7.4 | |
| | |
| |
| |
| | | Total fixed charges deducted from earnings | | $ | 453.6 | | $ | 427.6 | |
| | |
| |
| |
| Ratio of earnings to fixed charges | | | 2.1 | | | 2.0 | |
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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)OWENS-ILLINOIS GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of dollars, except ratios)
