Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

THE ANDERSONS, INC.

Nine months ended September 30, | |||||||

(in thousands, except for ratio) | 2018 | 2017 | |||||

Computation of earnings | |||||||

Pretax income (a) | $ | 2,624 | $ | (27,723 | ) | ||

Add: | |||||||

Interest expense on indebtedness | 20,000 | 17,472 | |||||

Amortization of debt issue costs | 564 | 1,371 | |||||

Interest portion of rent expense (b) | 5,259 | 5,728 | |||||

Distributed income of equity investees | 2,149 | 5,801 | |||||

Earnings | $ | 30,596 | $ | 2,649 | |||

Computation of fixed charges | |||||||

Interest expense on indebtedness | $ | 20,000 | $ | 17,472 | |||

Amortization of debt issue costs | 564 | 1,371 | |||||

Interest portion of rent expense (b) | 5,259 | 5,728 | |||||

Fixed charges | $ | 25,823 | $ | 24,571 | |||

Ratio of earnings to fixed charges | 1.18 | 0.11 |

(a) Pretax income as presented is income from continuing operations before adjustment for income or loss from equity investees.

(b) The portion of rent expense on operating leases included in the calculation of the fixed charges ratio above is a reasonable approximation of the interest factor on those agreements.