EX-12 10 ratio.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES <DOCUMENT>

EXHIBIT 12

 

IMC Global Inc.
Computation of Ratio of Earnings to Fixed Charges

 

 

Years Ended December 31

 

2000

1999

1998

1997

1996

Fixed charges:

 

 

 

 

 

Interest charges

$  112.6

$  111.4  

$  104.7 

$    40.2 

$    43.6 

Rent expense

        5.0

        6.4  

        7.5 

        6.0 

        5.8 

Total fixed charges

$  117.6
======

$  117.8  
======  

$  112.2 
====== 

$    46.2 
====== 

$    49.4 
====== 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

Earnings (loss) from continuing
  operations before minority interest


$  118.7


$ (390.9) 


$  254.1 


$  224.6 


$  388.7 

Interest charges

112.6

111.4  

104.7 

40.2 

43.6 

Rent expense

        5.0

        6.4  

        7.5 

        6.0 

        5.8 

Total earnings

$  236.3
======

$ (273.1) 
======  

$  366.3 
====== 

$  270.8 
====== 

$  438.1 
====== 

 

 

 

 

 

 

Ratio of earnings to fixed charges

2.01

-a  

3.26 

5.86 

8.87 

Adjusted ratio of earnings to fixed charges

n/a

3.21b 

5.01c

9.84d

10.59e

aThe Company's earnings were insufficient to cover fixed charges by $390.9 million for the year ended December 31, 1999.
bThe adjusted ratio of earnings to fixed charges for the year ended December 31, 1999 excludes special charges of $651.7 million.
cThe adjusted ratio of earnings to fixed charges for the year ended December 31, 1998 excludes special charges of $195.3 million.
dThe adjusted ratio of earnings to fixed charges for the year ended December 31, 1997 excludes special charges of $183.7 million.
eThe adjusted ratio of earnings to fixed charges for the year ended December 31, 1996 excludes special charges of $84.9 million.
n/a not applicable.