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EXHIBIT 12
OWENS-ILLINOIS, 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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| 2015 |
| 2014 |
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Earnings from continuing operations before income taxes |
| $ | 162 |
| $ | 313 |
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Less: | Equity earnings |
| (29 | ) | (35 | ) | ||
Add: | Total fixed charges deducted from earnings |
| 126 |
| 112 |
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| Dividends received from equity investees |
| 33 |
| 33 |
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| Earnings available for payment of fixed charges |
| $ | 292 |
| $ | 423 |
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Fixed charges |
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| Interest expense |
| $ | 124 |
| $ | 111 |
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| Portion of operating lease rental deemed to be interest |
| 2 |
| 1 |
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| Total fixed charges deducted from earnings and fixed charges |
| $ | 126 |
| $ | 112 |
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Ratio of earnings to fixed charges |
| 2.3 |
| 3.8 |
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