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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)
Six Months ended June 30,
-------------------------
2000 1999
Earnings before income taxes and ------ ------
minority share owners' interests . $254.4 $307.7
Less: Equity earnings . . . . . . . (8.3) (9.0)
Add: Total fixed charges deducted
from earnings . . . . . . . 250.8 223.0
Proportional share of pre-tax
earnings (loss) of 50% owned
associates. . . . . . . . . 4.9 4.4
Dividends received from less
than 50% owned associates . 2.5 6.7
------ ------
Earnings available for payment
of fixed charges. . . . . . $504.3 $532.8
====== ======
Fixed charges (including the Company's
proportional share of 50% owned
associates):
Interest expense. . . . . . . $231.6 $204.6
Portion of operating lease rental
deemed to be interest . . . 14.2 14.0
Amortization of deferred
financing costs and debt
discount expense. . . . . . 5.0 4.4
------ ------
Total fixed charges deducted from
earnings and fixed charges. $250.8 $223.0
Preferred stock dividends (increased to
assumed pre-tax amount). . . . . . 17.3 18.2
------ ------
Combined fixed charges and preferred
stock dividends. . . . . . . . . . $268.1 $241.2
====== ======
Ratio of earnings to fixed charges . 2.0 2.4
Ratio of earnings to combined fixed
charges and preferred stock
dividends. . . . . . . . . . . . . 1.9 2.2
