EX-12 2 a2201749zex-12.htm EX-12
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EXHIBIT 12

OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Millions of dollars, except ratios)

 
   Years ended
December 31, 		 
 
   2010   2009   2008  

Earnings from continuing operations before income taxes

   $ 424   $ 215   $ 435  

Less: Equity earnings

     (59 )   (53 )   (51 )

Add: Total fixed charges deducted from earnings

     260     228     261  

         Dividends received from equity investees

     62     34     25  
               

             Earnings available for payment of fixed charges

   $ 687   $ 424   $ 670  
               

Fixed charges (including the Company's proportional share of 50% owned associates):

                    

         Interest expense

   $ 249   $ 222   $ 253  

         Portion of operating lease rental deemed to be interest

     11     6     8  
               

             Total fixed charges deducted from earnings and total fixed charges

     260     228     261  

Preferred stock dividends (increased to assumed pre-tax amount)

                 7  
               

Combined fixed charges and preferred stock dividends

   $ 260   $ 228   $ 268  
               

Ratio of earnings to fixed charges

     2.6     1.9     2.6  

Ratio of earnings to combined fixed charges and preferred stock dividends

                 2.5  

1

OWENS-ILLINOIS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND

EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Millions of dollars, except ratios)

 
   Years ended
December 31, 		 
 
   2007   2006  

Earnings from continuing operations before income taxes

   $ 422   $ 100  

Less: Equity earnings

     (34 )   (23 )

Add: Total fixed charges deducted from earnings

     363     361  

         Dividends received from equity investees

     22     44  
           

             Earnings available for payment of fixed charges

   $ 772   $ 481  
           

Fixed charges (including the Company's proportional share of 50% owned associates):

              

         Interest expense

   $ 349   $ 349  

         Portion of operating lease rental deemed to be interest

     14     12  
           

             Total fixed charges deducted from earnings and total fixed charges

     363     361  

Preferred stock dividends (increased to assumed pre-tax amount)

     28     36  
           

Combined fixed charges and preferred stock dividends

   $ 391   $ 397  
           

Ratio of earnings to fixed charges

     2.1     1.3  

Ratio of earnings to combined fixed charges and preferred stock dividends

     2.0     1.2  

2



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