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built, collection, correct, decline, declined, partner, SAP, strategy
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adjustment, closing, maintenance, pretax, seasonally, stronger
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Exhibit 12
OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
|
| Six months ended June 30, |
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|
| 2012 |
| 2011 |
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|
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Earnings from continuing operations before income taxes |
| $ | 349 |
| $ | 225 |
|
Less: Equity earnings |
| (31 | ) | (33 | ) | ||
Add: Total fixed charges deducted from earnings |
| 129 |
| 179 |
| ||
Dividends received from equity investees |
| 27 |
| 24 |
| ||
Earnings available for payment of fixed charges |
| $ | 474 |
| $ | 395 |
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Fixed charges |
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Interest expense |
| $ | 126 |
| $ | 176 |
|
Portion of operating lease rental deemed to be interest |
| 3 |
| 3 |
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Total fixed charges deducted from earnings and fixed charges |
| $ | 129 |
| $ | 179 |
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Ratio of earnings to fixed charges |
| 3.7 |
| 2.2 |
|