Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
THE ANDERSONS, INC.

(In thousands, except for ratio)	Six Months Ended June 30				Year ended December 31
	2010		2009		2009		2008		2007		2006		2005
Computation of earnings
Pretax income (a)	$	45,831	$	34,567	$	44,033	$	42,530	$	72,642	$	46,279	$	36,991
Add:
Interest expense on indebtedness		9,298		10,851		20,688		31,239		19,048		16,299		12,079
Amortization of debt issue costs		1,097		781		1,866		1,215		82		122		219
Interest portion of rent expense (b)		4,541		5,178		9,976		9,657		8,636		7,528		6,819
Distributed income of equity investees		5,833		369		2,358		23,308		8,281		3,850		1,866
Earnings	$	66,600	$	51,746	$	78,921	$	107,949	$	108,689	$	74,078	$	57,974
Computation of fixed charges
Interest expense on indebtedness	$	9,298	$	10,851	$	20,688	$	31,239	$	19,048	$	16,299	$	12,079
Amortization of debt issue costs	$	1,097	$	781	$	1,866	$	1,215	$	82	$	122	$	219
Interest portion of rent expense (b)		4,541		5,178		9,976		9,657		8,636		7,528		6,819
fixed charges	$	14,936	$	16,810	$	32,530	$	42,111	$	27,766	$	23,949	$	19,117
Ratio of earnings to fixed charges		4.46		3.08		2.43		2.56		3.91		3.09		3.03

(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.