Exhibit 12
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
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| Six months ended June 30, |
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| 2009 |
| 2008 |
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Earnings from continuing operations before income taxes |
| $ | 302.0 |
| $ | 575.7 |
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Less: | Equity earnings |
| (27.7 | ) | (23.8 | ) | ||
Add: | Total fixed charges deducted from earnings |
| 108.9 |
| 137.2 |
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| Proportional share of pre-tax earnings of 50% owned associates |
| 7.6 |
| 7.4 |
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| Dividends received from equity investees |
| 13.6 |
| 12.5 |
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| Earnings available for payment of fixed charges |
| $ | 404.4 |
| $ | 709.0 |
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Fixed charges (including the Company’s proportional share of 50% owned associates): |
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| Interest expense |
| $ | 102.0 |
| $ | 129.5 |
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| Portion of operating lease rental deemed to be interest |
| 2.9 |
| 3.7 |
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| Amortization of deferred financing costs and debt discount expense |
| 4.0 |
| 4.0 |
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| Total fixed charges deducted from earnings and fixed charges |
| $ | 108.9 |
| $ | 137.2 |
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Ratio of earnings to fixed charges |
| 3.7 |
| 5.2 |
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