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
  and issuance expense


8.2 


8.5 


8.4 


5.4 


5.7 

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
  before minority interest


$
  (107.8)


$    (0.2)


$  (93.1)


$  118.7 


$ (390.0)

Interest charges

185.7 

174.2 

152.3 

112.6 

111.4 

Net amortization of debt discount and premium
  and issuance expense


8.2 


8.5 


8.4 


5.4 


5.7 

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)

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.

Return to IMC Global Inc. Form 10-K