EX-12 9 a2112129zex-12.txt EXHIBIT 12 EXHIBIT 12 IMC Global Inc. Computation of Ratio of Earnings to Fixed Charges
---------------------------------------------------------------------------------------------------------------------------------- MARCH 31 YEARS ENDED DECEMBER 31 ------------- ----------------------------------------------------------------- 2003 2002 2001 2000 1999 1998 ---------------------------------------------------------------------------------------------------------------------------------- FIXED CHARGES: Interest charges $ 45.9 $ 174.2 $ 152.3 $ 112.6 $ 111.4 $ 104.7 Net amortization of debt discount and premium and issuance expense 1.8 8.5 8.4 5.4 5.7 3.8 Interest portion of rental expense 2.1 8.0 6.7 5.0 6.4 7.5 ------------- ----------------------------------------------------------------- Total fixed charges $ 49.8 $ 190.7 $ 167.4 $ 123.0 $ 123.5 $ 116.0 EARNINGS: Earnings (loss) from continuing operations before minority interest $ (58.2) $ 0.7 $ (71.4) $ 118.7 $(390.9) $ 254.1 Interest charges 45.9 174.2 152.3 112.6 111.4 104.7 Net amortization of debt discount and premium and issuance expense 1.8 8.5 8.4 5.4 5.7 3.8 Interest portion of rental expense 2.1 8.0 6.7 5.0 6.4 7.5 ------------- ----------------------------------------------------------------- Total earnings (loss) $ (8.4) $ 191.4 $ 96.0 $ 241.7 $(267.4) $ 370.1 Ratio of earnings to fixed charges (a) - 1.0 - 2.0 - 3.2 ----------------------------------------------------------------------------------------------------------------------------------
------------------------- (a) The Company's earnings were insufficient to cover fixed charges by $58.2 million for the three months ended March 31, 2003 and $71.4 million and $390.9 million for the years ended December 31, 2001 and 1999, respectively.