EXHIBIT 12

OWENS‑ILLINOIS, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Millions of dollars, except ratios)

	Years ended December 31,
	2017		2016		2015		2014		2013
Earnings from continuing operations before income taxes	$	275	$	356	$	268	$	307	$	468
Less: Equity earnings		(77)		(60)		(60)		(64)		(67)
Add: Total fixed charges deducted from earnings		279		284		264		238		242
Dividends received from equity investees		48		38		53		54		67
Earnings available for payment of fixed charges	$	525	$	618	$	525	$	535	$	710
Fixed charges (including the Company’s proportional share of 50% owned associates):
Interest expense	$	276	$	279	$	259	$	235	$	239
Portion of operating lease rental deemed to be interest		3		5		5		3		3
Total fixed charges deducted from earnings	$	279	$	284	$	264	$	238	$	242
Ratio of earnings to fixed charges		1.9		2.2		2.0		2.2		2.9