EXHIBIT 12
OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
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| Years ended December 31, |
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|
| 2011 |
| 2010 |
| 2009 |
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Earnings (loss) from continuing operations before income taxes |
| $ | (241 | ) | $ | 594 |
| $ | 395 |
|
Less: Equity earnings |
| (66 | ) | (59 | ) | (53 | ) | |||
Add: Total fixed charges deducted from earnings |
| 320 |
| 260 |
| 228 |
| |||
Dividends received from equity investees |
| 50 |
| 62 |
| 34 |
| |||
Earnings available for payment of fixed charges |
| $ | 63 |
| $ | 857 |
| $ | 604 |
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Fixed charges (including the Company’s proportional share of 50% owned associates): |
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Interest expense |
| $ | 314 |
| $ | 249 |
| $ | 222 |
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Portion of operating lease rental deemed to be interest |
| 6 |
| 11 |
| 6 |
| |||
Total fixed charges deducted from earnings and total fixed charges |
| 320 |
| 260 |
| 228 |
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Ratio of earnings to fixed charges |
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|
| 3.3 |
| 2.6 |
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Deficiency of earnings available to cover fixed charges |
| $ | 257 |
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OWENS-ILLINOIS GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of dollars, except ratios)
|
| Years ended December 31, |
| ||||
|
| 2008 |
| 2007 |
| ||
Earnings from continuing operations before income taxes |
| $ | 685 |
| $ | 537 |
|
Less: Equity earnings |
| (51 | ) | (34 | ) | ||
Add: Total fixed charges deducted from earnings |
| 261 |
| 363 |
| ||
Dividends received from equity investees |
| 25 |
| 22 |
| ||
Earnings available for payment of fixed charges |
| $ | 920 |
| $ | 887 |
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Fixed charges (including the Company’s proportional share of 50% owned associates): |
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|
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Interest expense |
| $ | 253 |
| $ | 349 |
|
Portion of operating lease rental deemed to be interest |
| 8 |
| 14 |
| ||
Total fixed charges deducted from earnings and total fixed charges |
| 261 |
| 363 |
| ||
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Ratio of earnings to fixed charges |
| 3.5 |
| 2.4 |
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