Exhibit 12
OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Dollars in millions)
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| Three months ended March 31, |
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| 2007 |
| 2006 |
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Earnings before income taxes, and minority share owners’ interests |
| $ | 103.1 |
| $ | 56.7 |
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Less: Equity earnings |
| (4.8 | ) | (5.5 | ) | ||
Add: Total fixed charges deducted from earnings |
| 116.9 |
| 122.0 |
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Proportional share of pre-tax earnings of 50% owned associates |
| 0.2 |
| 2.5 |
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Dividends received from equity investees. |
| 1.0 |
| 28.4 |
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Earnings available for payment of fixed charges |
| $ | 216.4 |
| $ | 204.1 |
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Fixed charges (including the Company’s proportional share of 50% owned associates): |
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Interest expense |
| $ | 112.1 |
| $ | 115.4 |
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Portion of operating lease rental deemed to be interest |
| 2.0 |
| 2.6 |
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Amortization of deferred financing costs and debt discount expense |
| 2.8 |
| 4.0 |
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Total fixed charges deducted from earnings and fixed charges |
| 116.9 |
| 122.0 |
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Preferred stock dividends (increased to assumed pre-tax amount) |
| 8.6 |
| 8.8 |
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Combined fixed charges and preferred stock dividends |
| $ | 125.5 |
| $ | 130.8 |
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Ratio of earnings to fixed charges |
| 1.9 |
| 1.7 |
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Ratio of earnings to combined fixed charges and preferred stock dividends |
| 1.7 |
| 1.6 |
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