EX-12 2 a12-7205_1ex12.htm EX-12

Exhibit 12

 

OWENS-ILLINOIS GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 (Dollars in millions)

 

 

 

Three months ended March 31,

 

 

 

2012

 

2011

 

Earnings from continuing operations before income taxes

 

$

170

 

$

115

 

Less:

Equity earnings

 

(13

)

(14

)

Add:

Total fixed charges deducted from earnings

 

65

 

77

 

 

Dividends received from equity investees

 

6

 

5

 

 

 

 

 

 

 

 

 

Earnings available for payment of fixed charges

 

$

228

 

$

183

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

64

 

$

76

 

 

Portion of operating lease rental deemed to be interest

 

1

 

1

 

 

 

 

 

 

 

 

 

Total fixed charges deducted from earnings and fixed charges

 

$

65

 

$

77

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.5

 

2.4