BMC S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

Terra Industries Inc.
Ratio of earnings to fixed charges
	2002			2003			2004			2005			2006
Earnings Income (loss) from continuing operations		(36,174	)		(12,481	)		67,596			22,087			4,213
Income tax expense (benefit)		(24,000	)		(57,000	)		(5,000	)		14,217			9,247
Earnings before income tax		(60,174	)		(69,481	)		62,596			36,304			13,460
Add:
Minority Interest Expense (Income)		1,510			(8,617	)		11,207			13,667			11,286
Equity Investee (Income) Loss		—			—			—			(21,415	)		(17,013	)
Fixed Charges		60,794			61,637			67,068			78,052			69,137
Distributed income of equity investees		—			—			—			46,375			35,875
		62,304			53,020			78,275			116,679			99,285
Subtract:
Preference Security and Preferred Dividends		1,846			1,153			9,101			18,741			13,961
TOTAL EARNINGS		284			(17,614	)		131,770			134,242			98,784
Fixed charges Interest expense		53,800			55,072			53,134			53,478			47,991
Preference Security Dividend (TNCLP)		1,846			1,153			8,072			13,607			8,861
Preferred dividends		—			—			1,029			5,134			5,100
1/3 Rent expense on operating leases		5,148			5,412			4,833			5,833			7,185
		60,794			61,637			67,068			78,052			69,137
Ratio of earnings to fixed charges		0.0			(0.3	)		2.0			1.7			1.4
Dollar amount of excess (deficiency)		(60,510	)		(79,251	)		64,702			56,190			29,647

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDEND REQUIREMENTS
(000’s)

	2002			2003			2004			2005			2006
EARNINGS
Net income (loss) from continuing operations	$	(36,174	)	$	(12,481	)	$	67,596		$	22,087		$	4,213
Income tax expense (benefit)		(24,000	)		(57,000	)		(5,000	)		14,217			9,247
Earnings (loss) before income taxes		(60,174	)		(69,481	)		62,596			36,304			13,460
Minority interest expense (income) in consolidated subsidiaries		1,510			(8,617	)		11,207			13,667			11,286
Income (loss) of equity investments		—			—			—			(21,415	)		(17,013	)
Fixed charges		60,794			61,637			67,068			78,052			69,137
Distributed income of equity investees		—			—			—			46,375			35,875
Less: preferred dividends		—			—			(1,029	)		(5,134	)		(5,100	)
Less: preference security dividends of Terra Nitrogen Company, L.P.		(1,846	)		(1,153	)		(8,072	)		(13,607	)		(8,861	)
TOTAL EARNINGS (LOSS)	$	284		$	(17,614	)	$	131,770		$	134,242		$	98,784
FIXED CHARGES
Interest expense	$	53,800		$	55,072		$	53,134		$	53,478		$	47,991
One-third of rentals on operating leases		5,148			5,412			4,833			5,833			7,185
Preferred dividends		—			—			1,029			5,134			5,100
Preference security dividends of Terra Nitrogen Company, L.P.		1,846			1,153			8,072			13,607			8,861
TOTAL FIXED CHARGES	$	60,794		$	61,637		$	67,068		$	78,052		$	69,137
EARNINGS EXCESS (DEFICIENCY) TO COVER FIXED CHARGES	$	(60,510	)	$	(79,251	)	$	64,702		$	56,190		$	29,647
RATIO OF EARNINGS TOFIXED CHARGES AND PREFERRED DIVIDENDS		0.0			(0.3	)		2.0			1.7			1.4