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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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| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
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Earnings (loss) from continuing operations before income taxes |
| $ | 483 |
| $ | (231 | ) | $ | 596 |
| $ | 396 |
| $ | 690 |
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Less: Equity earnings |
| 64 |
| (66 | ) | (59 | ) | (53 | ) | (51 | ) | |||||
Add: Total fixed charges deducted from earnings |
| 257 |
| 320 |
| 260 |
| 228 |
| 261 |
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Dividends received from equity investees |
| 50 |
| 50 |
| 62 |
| 34 |
| 25 |
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Earnings available for payment of fixed charges |
| $ | 854 |
| $ | 73 |
| $ | 859 |
| $ | 605 |
| $ | 925 |
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Fixed charges (including the Company’s proportional share of 50% owned associates): |
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Interest expense |
| $ | 248 |
| $ | 314 |
| $ | 249 |
| $ | 222 |
| $ | 253 |
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Portion of operating lease rental deemed to be interest |
| 9 |
| 6 |
| 11 |
| 6 |
| 8 |
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Total fixed charges deducted from earnings and total fixed charges |
| $ | 257 |
| $ | 320 |
| $ | 260 |
| $ | 228 |
| $ | 261 |
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Ratio of earnings to fixed charges |
| 3.3 |
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| 3.3 |
| 2.7 |
| 3.5 |
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Deficiency of earnings available to cover fixed charges |
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| $ | 247 |
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