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OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in millions)
| | Nine months ended September 30, | |||||||
---|---|---|---|---|---|---|---|---|---|
| | 2007 | 2006 | ||||||
Earnings from continuing operations before income taxes, and minority share owners' interests | $ | 452.4 | $ | 225.6 | |||||
Less: | Equity earnings | (22.3 | ) | (19.3 | ) | ||||
Add: | Total fixed charges deducted from earnings | 265.5 | 274.5 | ||||||
Proportional share of pre-tax earnings of 50% owned associates | 4.2 | 6.9 | |||||||
Dividends received from equity investees | 13.9 | 39.0 | |||||||
Earnings available for payment of fixed charges | $ | 713.7 | $ | 526.7 | |||||
Fixed charges (including the Company's proportional share of 50% owned associates): | |||||||||
Interest expense | $ | 253.6 | $ | 263.3 | |||||
Portion of operating lease rental deemed to be interest | 5.3 | 6.8 | |||||||
Amortization of deferred financing costs and debt discount expense | 6.6 | 4.4 | |||||||
Total fixed charges deducted from earnings and fixed charges | 265.5 | 274.5 | |||||||
Preferred stock dividends (increased to assumed pre-tax amount) | 22.2 | 30.8 | |||||||
Combined fixed charges and preferred stock dividends | $ | 287.7 | $ | 305.3 | |||||
Ratio of earnings to fixed charges | 2.7 | 1.9 | |||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 2.5 | 1.7 |
OWENS-ILLINOIS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Dollars in millions)