QuickLinks -- Click here to rapidly navigate through this document
OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Millions of dollars, except ratios)
| Years ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
Earnings (loss) from continuing operations before income taxes | $ | 328 | $ | (396 | ) | $ | 426 | $ | 216 | $ | 440 | |||||
Less: Equity earnings | (64 | ) | (66 | ) | (59 | ) | (53 | ) | (51 | ) | ||||||
Add: Total fixed charges deducted from earnings | 257 | 320 | 260 | 228 | 261 | |||||||||||
Dividends received from equity investees | 50 | 50 | 62 | 34 | 25 | |||||||||||
Earnings available for payment of fixed charges | $ | 571 | $ | (92 | ) | $ | 689 | $ | 425 | $ | 675 | |||||
Fixed charges (including the Company's proportional share of 50% owned associates): | ||||||||||||||||
Interest expense | $ | 248 | $ | 314 | $ | 249 | $ | 222 | $ | 253 | ||||||
Portion of operating lease rental deemed to be interest | 9 | 6 | 11 | 6 | 8 | |||||||||||
Total fixed charges deducted from earnings and total fixed charges | 257 | 320 | 260 | 228 | 261 | |||||||||||
Preferred stock dividends (increased to assumed pre-tax amount) | 7 | |||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 257 | $ | 320 | $ | 260 | $ | 228 | $ | 268 | ||||||
Ratio of earnings to fixed charges | 2.2 | 2.7 | 1.9 | 2.6 | ||||||||||||
Deficiency of earnings available to cover fixed charges | $ | 412 | ||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 2.5 |
OWENS-ILLINOIS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Millions of dollars, except ratios)