EX-12 2 a11-13770_1ex12.htm EX-12

Exhibit 12

 

OWENS-ILLINOIS GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

Six months ended June 30,

 

 

 

2011

 

2010

 

 

 

 

 

 

 

Earnings from continuing operations before income taxes

 

$

215

 

$

317

 

Less:  Equity earnings

 

(33

)

(26

)

Add:  Total fixed charges deducted from earnings

 

179

 

119

 

Dividends received from equity investees

 

24

 

38

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$

385

 

$

448

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

176

 

$

116

 

Portion of operating lease rental deemed to be interest

 

3

 

3

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$

179

 

$

119

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.2

 

3.8