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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)
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Nine Months ended September 30,
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2000 1999
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<S> <C> <C>
Earnings (loss) before income taxes, and minority
share owners' interests ........................................... ($ 439.7) $ 437.4
Less: Equity earnings ........................................... (14.6) (15.6)
Add: Total fixed charges deducted from earnings ................ 382.0 335.8
Proportional share of pre-tax earnings (loss)
of 50% owned associates ................................ 8.2 7.6
Dividends received from less
than 50% owned associates ............................... 5.9 7.2
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Earnings (loss) available for payment
of fixed charges ....................................... ($ 58.2) $ 772.4
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Fixed charges (including the Company's proportional
share of 50% owned associates):
Interest expense .......................................... $ 353.2 $ 308.4
Portion of operating lease rental deemed to
be interest ............................................... 21.2 20.7
Amortization of deferred financing costs and
debt discount expense ..................................... 7.6 6.7
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Total fixed charges deducted from earnings
and fixed charges ...................................... $ 382.0 $ 335.8
Preferred stock dividends (increased to assumed
pre-tax amount) ................................................... 26.0 27.2
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Combined fixed charges and preferred stock
dividends ......................................................... $ 408.0 $ 363.0
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Deficiency of earnings available to cover fixed charges .............. 440.2
Ratio of earnings to fixed charges ................................... 2.3
Deficiency of earnings available to cover fixed charges and
preferred stock dividends ......................................... 466.2
Ratio of earnings to combined fixed charges and
preferred stock dividends ......................................... 2.1
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