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built, collection, correct, decline, declined, partner, SAP, strategy
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adjustment, closing, maintenance, seasonally, stronger
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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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| 2012 |
| 2011 |
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Earnings from continuing operations before income taxes |
| $ | 349 |
| $ | 225 |
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Less: | Equity earnings |
| (31 | ) | (33 | ) | ||
Add: | Total fixed charges deducted from earnings |
| 129 |
| 179 |
| ||
| Dividends received from equity investees |
| 27 |
| 24 |
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| Earnings available for payment of fixed charges |
| $ | 474 |
| $ | 395 |
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Fixed charges |
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| Interest expense |
| $ | 126 |
| $ | 176 |
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| 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 |
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