Exhibit 12.1

Terra Industries Inc.
Ratio of earnings to fixed charges
	2002			2003			2004			2005			2006
Earnings Income (loss) from continuing operations		(36,174	)		(12,481	)		67,596			22,087			4,213
Income tax expense (benefit)		(24,000	)		(57,000	)		(5,000	)		14,217			9,247
Earnings before income tax		(60,174	)		(69,481	)		62,596			36,304			13,460
Add:
Minority Interest Expense (Income)		1,510			(8,617	)		11,207			13,667			11,286
Equity Investee (Income) Loss		—			—			—			(21,415	)		(17,013	)
Fixed Charges		60,794			61,637			67,068			78,052			69,137
Distributed income of equity investees		—			—			—			46,375			35,875
		62,304			53,020			78,275			116,679			99,285
Subtract:
Preference Security and Preferred Dividends		1,846			1,153			9,101			18,741			13,961
TOTAL EARNINGS		284			(17,614	)		131,770			134,242			98,784
Fixed charges Interest expense		53,800			55,072			53,134			53,478			47,991
Preference Security Dividend (TNCLP)		1,846			1,153			8,072			13,607			8,861
Preferred dividends		—			—			1,029			5,134			5,100
1/3 Rent expense on operating leases		5,148			5,412			4,833			5,833			7,185
		60,794			61,637			67,068			78,052			69,137
Ratio of earnings to fixed charges		0.0			(0.3	)		2.0			1.7			1.4
Dollar amount of excess (deficiency)		(60,510	)		(79,251	)		64,702			56,190			29,647

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDEND REQUIREMENTS
(000’s)

	2002			2003			2004			2005			2006
EARNINGS
Net income (loss) from continuing operations	$	(36,174	)	$	(12,481	)	$	67,596		$	22,087		$	4,213
Income tax expense (benefit)		(24,000	)		(57,000	)		(5,000	)		14,217			9,247
Earnings (loss) before income taxes		(60,174	)		(69,481	)		62,596			36,304			13,460
Minority interest expense (income) in consolidated subsidiaries		1,510			(8,617	)		11,207			13,667			11,286
Income (loss) of equity investments		—			—			—			(21,415	)		(17,013	)
Fixed charges		60,794			61,637			67,068			78,052			69,137
Distributed income of equity investees		—			—			—			46,375			35,875
Less: preferred dividends		—			—			(1,029	)		(5,134	)		(5,100	)
Less: preference security dividends of Terra Nitrogen Company, L.P.		(1,846	)		(1,153	)		(8,072	)		(13,607	)		(8,861	)
TOTAL EARNINGS (LOSS)	$	284		$	(17,614	)	$	131,770		$	134,242		$	98,784
FIXED CHARGES
Interest expense	$	53,800		$	55,072		$	53,134		$	53,478		$	47,991
One-third of rentals on operating leases		5,148			5,412			4,833			5,833			7,185
Preferred dividends		—			—			1,029			5,134			5,100
Preference security dividends of Terra Nitrogen Company, L.P.		1,846			1,153			8,072			13,607			8,861
TOTAL FIXED CHARGES	$	60,794		$	61,637		$	67,068		$	78,052		$	69,137
EARNINGS EXCESS (DEFICIENCY) TO COVER FIXED CHARGES	$	(60,510	)	$	(79,251	)	$	64,702		$	56,190		$	29,647
RATIO OF EARNINGS TOFIXED CHARGES AND PREFERRED DIVIDENDS		0.0			(0.3	)		2.0			1.7			1.4