EX-12 2 oi-20170630ex126207579.htm EX-12 oi_Ex_12

EXHIBIT 12

 

OWENS-ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30

 

 

    

2017

    

2016

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$
224

 

$
242

 

Less: Equity earnings

 

 
(33)

 

 
(29)

 

Add: Total fixed charges deducted from earnings

 

 
148

 

 
139

 

Dividends received from equity investees

 

 
24

 

 
23

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$
363

 

$
375

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
146

 

$
136

 

Portion of operating lease rental deemed to be interest

 

 
2

 

 
3

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$
148

 

$
139

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 
2.5

 

 
2.7