Exhibit 12
IMC Global Inc.
Computation of Ratio of Earnings to Fixed Charges
|
Years ended December 31 |
||||
|
2003 |
2002 |
2001 |
2000 |
1999 |
Fixed charges: |
|
|
|
|
|
Interest charges |
$ 185.7 |
$ 174.2 |
$ 152.3 |
$ 112.6 |
$ 111.4 |
Net amortization of debt discount and premium |
|
|
|
|
|
Interest portion of rental expense |
8.0 |
8.0 |
6.7 |
5.0 |
6.4 |
Total fixed charges |
$ 201.9 |
$ 190.7 |
$ 167.4 |
$ 123.0 |
$ 123.5 |
Earnings: |
|
|
|
|
|
Earnings (loss) from continuing operations |
|
|
|
|
|
Interest charges |
185.7 |
174.2 |
152.3 |
112.6 |
111.4 |
Net amortization of debt discount and premium |
|
|
|
|
|
Interest portion of rental expense |
8.0 |
8.0 |
6.7 |
5.0 |
6.4 |
Total earnings (loss) |
$ 94.1 |
$ 190.5 |
$ 74.3 |
$ 241.7 |
$ (266.5) |
Ratio of earnings to fixed chargesa |
0.5 |
1.0 |
0.4 |
2.0 |
(2.2) |
a The Company's earnings were insufficient to cover fixed charges by $107.8 million, $93.1 million and $390.0 million for the years ended December 31, 2003, 2002 and 2001, respectively.