Exhibit 12.1
The Mosaic Company
Computation of Ratio of Earnings to Fixed Charges
(in millions, except for ratio)
Fiscal year ended December 31, 2016 | Fiscal year ended December 31, 2015 | Fiscal year ended December 31, 2014 | Seven months ended December 31, 2013* | Fiscal year ended May 31, 2013 | Fiscal year ended May 31, 2012 | |||||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||||||
Earnings from consolidated companies before income taxes | $ | 242.4 | $ | 1,103.3 | $ | 1,217.3 | $ | 484.2 | $ | 2,214.5 | $ | 2,628.9 | ||||||||||||||||||||||||
Add: | ||||||||||||||||||||||||||||||||||||
Total fixed charges (per below) | 199.8 | 188.8 | 183.8 | 61.6 | 65.2 | 69.2 | ||||||||||||||||||||||||||||||
Amortization of capitalized interest | 15.5 | 15.8 | 20.4 | 9.6 | 12.8 | 9.3 | ||||||||||||||||||||||||||||||
Distributions from 50% or less owned companies accounted for in accordance with the equity method | 17.3 | 25.6 | 2.5 | 14.8 | 53.3 | 9.6 | ||||||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||||||
Capitalized interest | 39.9 | 36.1 | 34.0 | 25.0 | 52.0 | 55.7 | ||||||||||||||||||||||||||||||
Noncontrolling interest in earnings from consolidated companies with no fixed charges | 0.6 | 0.5 | 0.5 | 0.2 | 6.7 | 3.4 | ||||||||||||||||||||||||||||||
Total Earnings: | $ | 434.5 | $ | 1,296.9 | $ | 1,389.5 | $ | 545.0 | $ | 2,287.1 | $ | 2,657.9 | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||||||
Interest costs (excluding amortized interest) | $ | 137.8 | $ | 130.5 | $ | 125.9 | $ | 21.6 | $ | (1.9 | ) | $ | (0.9 | ) | ||||||||||||||||||||||
Capitalized interest | 39.9 | 36.1 | 34.0 | 25.0 | 52.0 | 55.7 | ||||||||||||||||||||||||||||||
Amortized capitalized debt expenses | 2.8 | 3.1 | 3.0 | 1.2 | 1.9 | 2.3 | ||||||||||||||||||||||||||||||
Estimate of interest in rent expense | 14.4 | 13.5 | 14.2 | 7.3 | 11.7 | 10.6 | ||||||||||||||||||||||||||||||
Honored guarantees amount | 4.9 | 5.6 | 6.7 | 6.5 | 1.5 | 1.5 | ||||||||||||||||||||||||||||||
Total Fixed Charges: | $ | 199.8 | $ | 188.8 | $ | 183.8 | $ | 61.6 | $ | 65.2 | $ | 69.2 | ||||||||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 2.2 | x | 6.9 | x | 7.6 | x | 8.8 | x | 35.1 | x | 38.4 | x |