Exhibit 12.1
The Mosaic Company
Computation of Ratio of Earnings to Fixed Charges
(in millions, except for ratio)
Three Months Ended August 31, 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Earnings from consolidated companies before income taxes | $ | 729.7 | $ | 3,271.3 | $ | 1,189.7 | $ | 2,905.7 | $ | 2,682.4 | $ | 505.7 | ||||||||||||
Add: | ||||||||||||||||||||||||
Total fixed charges (per below) | 18.6 | 94.2 | 111.9 | 112.9 | 142.8 | 186.7 | ||||||||||||||||||
Amortization of capitalized interest | 2.1 | 6.0 | 4.2 | 2.4 | 1.1 | 0.6 | ||||||||||||||||||
Distributions from 50% or less owned companies accounted for in accordance with the equity method | 3.6 | 3.2 | 1.9 | 31.7 | 134.3 | 12.3 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Capitalized interest | 14.4 | 57.1 | 37.3 | 14.7 | 11.8 | 7.7 | ||||||||||||||||||
Noncontrolling interest in earnings from consolidated companies with no fixed charges | 2.2 | 0.5 | 0.1 | 0.1 | 0.2 | 0.2 | ||||||||||||||||||
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Total Earnings: | $ | 737.4 | $ | 3,317.1 | $ | 1,270.3 | $ | 3,037.9 | $ | 2,948.6 | $ | 697.4 | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest costs (excluding amortized interest) | $ | 0.8 | $ | 25.9 | $ | 63.8 | $ | 89.3 | $ | 124.7 | $ | 194.9 | ||||||||||||
Capitalized interest | 14.4 | 57.1 | 37.3 | 14.7 | 11.8 | 7.7 | ||||||||||||||||||
Amortized capitalized debt expenses | (0.8 | ) | 1.7 | 1.9 | 0.9 | (0.7 | ) | (23.4 | ) | |||||||||||||||
Estimate of interest in rent expense | 2.3 | 9.5 | 8.9 | 8.0 | 7.0 | 7.5 | ||||||||||||||||||
Honored guarantees amount | 1.9 | — | — | — | — | — | ||||||||||||||||||
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Total Fixed Charges: | $ | 18.6 | $ | 94.2 | $ | 111.9 | $ | 112.9 | $ | 142.8 | $ | 186.7 | ||||||||||||
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RATIO OF EARNINGS TO FIXED CHARGES | 39.6 | x | 35.2 | x | 11.4 | x | 26.9 | x | 20.7 | x | 3.7 | x | ||||||||||||
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