EX-12 4 minndak084810_ex12.htm STATEMENT RE COMPUTATION OF RATIO OF NET PROCEEDS TO FIXED CHARGES EXHIBIT 12 TO MINN-DAK FORM 10-K FISCAL YEAR ENDED AUGUST 31, 2008

Exhibit 12

MINN DAK FARMERS COOPERATIVE
COMPUTATION OF RATIO OF NET PROCEEDS TO FIXED CHARGES
(IN THOUSANDS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended August 31,

 

 

 

  

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net proceeds before income taxes from Continuing operations

 

 

110,863

 

 

148,415

 

 

76,096

 

 

88,088

 

 

107,909

 

Fixed charges, excluding capitalized interest, see below

 

 

3,230

 

 

4,297

 

 

3,544

 

 

2,899

 

 

2,920

 

Amortization of capitalized interest

 

 

106

 

 

106

 

 

106

 

 

106

 

 

106

 

 

 

    

 

    

 

    

 

    

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Proceeds

 

 

114,199

 

 

152,818

 

 

79,746

 

 

91,093

 

 

110,935

 

 

 

    

 

    

 

    

 

    

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

 

3,230

 

 

4,297

 

 

3,544

 

 

2,899

 

 

2,920

 

Interest factor included in rentals (1)

 

 

0

 

 

0

 

 

0

 

 

0

 

 

0

 

 

 

    

 

    

 

    

 

    

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, excluding capitalized Interest

 

 

3,230

 

 

4,297

 

 

3,544

 

 

2,899

 

 

2,920

 

Interest capitalized

 

 

0

 

 

0

 

 

0

 

 

0

 

 

0

 

 

 

    

 

    

 

    

 

    

 

    

 

Fixed Charges

 

 

3,230

 

 

4,297

 

 

3,544

 

 

2,899

 

 

2,920

 

 

 

    

 

    

 

    

 

    

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of net proceeds to fixed charges

 

 

35.36

 

 

35.56

 

 

22.50

 

 

31.42

 

 

37.99

 

 

 

    

 

    

 

    

 

    

 

    

 

 

 

(1)

The company does lease certain items, such as office equipment. Due to the proportionately small amounts involved, interest on such lease payments has not been included in the total of the company’s fixed charges of the calculation of this ratio.