Exhibit 12

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

	Six Months Ended
	June 30
	2009
Canadian GAAP
Net income	$	495.4
Income taxes		(40.9	)
Share of earnings of equity investees		(67.7	)
Fixed charges		116.2
Distributed income of equity investees		98.9
Interest capitalized		(30.0	)
Total Earnings Available for Fixed Charges	$	571.9
Fixed Charges
Interest expensed and capitalized	$	102.3
Amortization of capitalized indebtedness costs		1.1
Estimated portion of rent expense representing interest		12.8
Total Fixed Charges	$	116.2
Ratio of Earnings to Fixed Charges		4.92
US GAAP
Net income	$	494.3
Income taxes		(34.0	)
Share of earnings of equity investees		(67.7	)
Fixed charges		116.2
Distributed income of equity investees		98.9
Interest capitalized		(30.0	)
Total Earnings Available for Fixed Charges	$	577.7
Fixed Charges
Interest expensed and capitalized	$	102.3
Amortization of capitalized indebtedness costs		1.1
Estimated portion of rent expense representing interest		12.8
Total Fixed Charges	$	116.2
Ratio of Earnings to Fixed Charges		4.97