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OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| | | Nine months ended September 30, | ||||||
|---|---|---|---|---|---|---|---|---|
| | | 2007 | 2006 | |||||
| Earnings from continuing operations before income taxes, and minority share owners' interests | $ | 452.4 | $ | 225.6 | ||||
| Less: | Equity earnings | (22.3 | ) | (19.3 | ) | |||
| Add: | Total fixed charges deducted from earnings | 265.5 | 274.5 | |||||
| Proportional share of pre-tax earnings of 50% owned associates | 4.2 | 6.9 | ||||||
| Dividends received from equity investees | 13.9 | 39.0 | ||||||
| Earnings available for payment of fixed charges | $ | 713.7 | $ | 526.7 | ||||
| Fixed charges (including the Company's proportional share of 50% owned associates): | ||||||||
Interest expense | $ | 253.6 | $ | 263.3 | ||||
| Portion of operating lease rental deemed to be interest | 5.3 | 6.8 | ||||||
| Amortization of deferred financing costs and debt discount expense | 6.6 | 4.4 | ||||||
| Total fixed charges deducted from earnings and fixed charges | $ | 265.5 | $ | 274.5 | ||||
Ratio of earnings to fixed charges | 2.7 | 1.9 | ||||||
OWENS-ILLINOIS GROUP, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Dollars in millions)