Exhibit 12

Potash Corporation of Saskatchewan Inc.
Ratio of Earnings to Fixed Charges
(in millions of US dollars, except ratio amounts)
(unaudited)

	Nine Months Ended
	September 30
	2010
Canadian GAAP
Net income	$	1,323.9
Income taxes		476.7
Share of earnings of equity investees		(121.6	)
Fixed charges		199.8
Distributed income of equity investees		43.1
Interest capitalized		(88.0	)
Total Earnings Available for Fixed Charges	$	1,833.9
Fixed Charges
Interest expensed and capitalized	$	180.9
Amortization of capitalized indebtedness costs		3.6
Estimated portion of rent expense representing interest		15.3
Total Fixed Charges	$	199.8
Ratio of Earnings to Fixed Charges		9.18
US GAAP
Net income	$	1,261.6
Income taxes		498.2
Share of earnings of equity investees		(121.3	)
Fixed charges		199.8
Distributed income of equity investees		43.1
Interest capitalized		(88.0	)
Total Earnings Available for Fixed Charges	$	1,793.4
Fixed Charges
Interest expensed and capitalized	$	180.9
Amortization of capitalized indebtedness costs		3.6
Estimated portion of rent expense representing interest		15.3
Total Fixed Charges	$	199.8
Ratio of Earnings to Fixed Charges		8.98