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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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|
| 2014 |
| 2013 |
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Earnings from continuing operations before income taxes |
| $ | 313 |
| $ | 294 |
| |
Less: | Equity earnings |
| (35 | ) | (33 | ) | ||
Add: | Total fixed charges deducted from earnings |
| 112 |
| 131 |
| ||
| Dividends received from equity investees |
| 33 |
| 36 |
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| Earnings available for payment of fixed charges |
| $ | 423 |
| $ | 428 |
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Fixed charges |
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| Interest expense |
| $ | 111 |
| $ | 128 |
|
| Portion of operating lease rental deemed to be interest |
| 1 |
| 3 |
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| Total fixed charges deducted from earnings and fixed charges |
| $ | 112 |
| $ | 131 |
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Ratio of earnings to fixed charges |
| 3.8 |
| 3.3 |
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