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Exhibit 12
OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
|
| Nine months ended September 30, |
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|
| 2011 |
| 2010 |
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Earnings from continuing operations before income taxes |
| $ | 363 |
| $ | 505 |
| |
Less: | Equity earnings |
| (52 | ) | (46 | ) | ||
Add: | Total fixed charges deducted from earnings |
| 250 |
| 182 |
| ||
| Dividends received from equity investees |
| 38 |
| 51 |
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| Earnings available for payment of fixed charges |
| $ | 599 |
| $ | 692 |
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Fixed charges |
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| Interest expense |
| $ | 246 |
| $ | 177 |
|
| Portion of operating lease rental deemed to be interest |
| 4 |
| 5 |
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| Total fixed charges deducted from earnings and fixed charges |
| $ | 250 |
| $ | 182 |
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Ratio of earnings to fixed charges |
| 2.4 |
| 3.8 |
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