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Form 11-K
 ANNUAL REPORT PURSUANT
TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
  x
    
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 Commission file number 001-10351
 A.
    
    Full title of the plan and the address of the plan, if different from that of the issuer
named below:
 White
Springs Agricultural Chemicals, Inc. Savings andInvestment Plan for Collective Bargaining Employees
 B.
    
    Name of issuer of the securities held pursuant to the plan and the address of its principal
executive office:
 Potash Corporation of Saskatchewan Inc.

122  1st Avenue South

Saskatoon, Saskatchewan, Canada S7K 7G3




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White Springs Agricultural Chemicals, Inc.
Savings and Investment Plan
for Collective Bargaining Employees
 Financial Statements as of
December 31, 2010 and 2009, and for the
Year Ended December 31, 2010,
Supplemental Schedule as of December 31, 2010,
and Report of Independent Registered Public Accounting Firm




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##### 



WHITE SPRINGS AGRICULTURAL CHEMICALS, INC.
SAVINGS AND INVESTMENT PLAN
FOR COLLECTIVE BARGAINING EMPLOYEES
 TABLE OF CONTENTS
 
  
 PageREPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
    
    1FINANCIAL STATEMENTS:Statements of Net Assets Available for Benefits as of December 31, 2010 and 2009
    
    2Statement of Changes in Net Assets Available for Benefits for the
Year Ended December 31, 2010
    
    3Notes to Financial Statements as of December 31, 2010 and 2009
    
    412SUPPLEMENTAL SCHEDULE 
    
    13Form 5500  Schedule H, Part IV, Line 4i  Schedule of Assets (Held at End of Year)
as of December 31, 2010
    
    14
 
 NOTE:
    
    All other schedules required by Section 29 CFR 2520.103 10 of the
Department of Labors Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974 have been
omitted because they are not applicable.Exhibit 23.1




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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM




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WHITE SPRINGS AGRICULTURAL CHEMICALS, INC.  SAVINGS AND INVESTMENT PLAN
FOR COLLECTIVE BARGAINING EMPLOYEES
 
 STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS  AS OF DECEMBER 31, 2010 AND 2009
 
 2010
    
    
    2009ASSETS:Participant-directed investments  at fair value (Note 3)
    
    $
    26,207,780
    
    
    $
    22,703,662Receivables:Notes receivable from participants
    
    
    1,635,752
    
    
    
    1,248,549Company performance contribution
    
    
    660,167
    
    
    
    395,676Unsettled trades   net
    
    
    130,288
    
    
    
    16,426Total receivables
    
    
    2,426,207
    
    
    
    1,660,651NET ASSETS AVAILABLE FOR BENEFITS
AT FAIR VALUE
    
    
    28,633,987
    
    
    
    24,364,313Adjustment from fair value to contract value for
fully benefit-responsive investment contracts
    
    
    (30,291
    )
    
    
    31,035NET ASSETS AVAILABLE FOR BENEFITS
    
    $
    28,603,696
    
    
    $
    24,395,348
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WHITE SPRINGS AGRICULTURAL CHEMICALS, INC.  SAVINGS AND INVESTMENT PLAN
FOR COLLECTIVE BARGAINING EMPLOYEES
 
 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS  FOR THE YEAR ENDED DECEMBER 31, 2010
 
 ADDITIONS:Company matching contributions
    
    $
    538,557Company performance contributions
    
    
    660,167Participant contributions
    
    
    1,417,980Total contributions
    
    
    2,616,704Investment income:Net appreciation in fair value of investments (Note 3)
    
    
    4,128,627Interest and dividends
    
    
    308,357Net investment income
    
    
    4,436,984Total additions
    
    
    7,053,688DEDUCTIONS:Benefits paid to participants
    
    
    (2,832,563
    )Administrative expenses
    
    
    (12,777
    )Total deductions
    
    
    (2,845,340
    )INCREASE IN NET ASSETS
    
    
    4,208,348NET ASSETS AVAILABLE FOR BENEFITS:Beginning of year
    
    
    24,395,348End of year
    
    $
    28,603,696
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WHITE SPRINGS AGRICULTURAL CHEMICALS, INC.
SAVINGS AND INVESTMENT PLAN
FOR COLLECTIVE BARGAINING EMPLOYEES
 
 NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2010 AND 2009, AND FOR THE YEAR ENDED DECEMBER 31, 2010
 
 1.
    
    DESCRIPTION OF PLANThe following description of the White Springs Agricultural Chemicals, Inc. Savings and
Investment Plan for Collective Bargaining Employees (the Plan) is provided for general
information purposes only. Participants should refer to the Plan document for more complete
information.General The Plan is a defined contribution plan sponsored by White Springs Agricultural
Chemicals, Inc. (the Company), covering all employees of the Company who are represented by a
collective bargaining agreement between the Company and the International Chemical Workers
Union Council of the United Food and Commercial Workers Union, Local 784C. The Employee
Benefits Committee of PCS Administration (USA), Inc., the Companys parent, controls and
manages the operation and administration of the Plan. Fidelity Management Trust Company
(Fidelity) is the trustee of the Plan. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 (ERISA).In October 2009, Potash Corporation of Saskatchewan Inc.
(PCS), the parent company of the Plans sponsor, announced a reduction of personnel at the
White Springs, Florida facility. Severance packages were issued to each of those personnel
affected (2009 White Springs Severance Program). All employees who were eligible to receive
plan benefits under the 2009 White Springs Severance Program were fully vested and eligible to
receive a 2009 performance contribution, as provided in the Plan. There were no additional Plan
enhancements. The reduction did not have any impact on the benefits disclosed in the Plans
financial statements.Contributions Participants may contribute up to 50% of base compensation each year, as
defined in the Plan, subject to certain Internal Revenue Code (IRC) limitations. These
contributions may be pretax contributions and/or after-tax contributions. Participants who are
age 50 and over may also make catch-up contributions.The Plan has an automatic enrollment provision, added March 1, 2010, under which new
participants are set up with a 3% pretax deferral, unless they formally waive participation or
elect a different participation level.The Company matches 100% of the first 3% of base compensation that participants contribute.
Catch-up contributions are not eligible for the Company match. Participants may also rollover
amounts representing distributions from other qualified defined benefit or contribution plans,
which are not eligible for the Company match.The Company may also make a discretionary Company performance contribution ranging from 0% to
3% of each eligible participants base pay. The 2010 and 2009 Company performance contributions
were 3.0% and 1.5%, respectively, of each eligible participants base pay.Participant Accounts Individual accounts are maintained for each Plan participant. Each
participants account is credited with the participants contribution, the Companys matching
contribution, the Company performance contribution when applicable, and allocations of Plan
earnings,
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and is charged with withdrawals and an allocation of Plan losses and administrative
expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to
which a participant is entitled is the benefit that can be provided from the participants
vested account.Investments Participants direct the investment of their account balances and contributions
into various investment options offered by the Plan. The Plan currently offers Potash
Corporation of Saskatchewan Inc. (PCS) common stock, a selection of mutual funds and one pooled
investment stable value fund. The U.S. Government Reserves Fund is used to maintain dividends
distributed by a participants investment in PCS common stock and is not available as a
participant-directed investment option. The PCS stock purchase account is a money market fund
that is used in the recordkeeping of the purchases and sales of fractional shares of Company
stock and is not available as a participant-directed investment option.Participants who are enrolled in the Plan under the automatic enrollment provision and who have
not otherwise made an investment election, will have their contributions and the employer
contributions invested in the Plans default fund which has been designated as the Fidelity
Freedom Funds, specifically the Freedom Fund that has a target retirement date closest to the
year that the participant might retire, based on the participants current age and assuming a
normal retirement age of 65.Effective October 1, 2008, the investment option Legg Mason Value Trust FI Class was no
longer available for new contributions. A new investment option, T. Rowe Price Dividend Growth
Fund, was added to the Plan as of October 26, 2009. All existing balances in the Legg Mason
Value Trust F1 Class were transferred into the T. Rowe Price Dividend Growth Fund on January 4,
2010. The Fidelity Overseas Fund was removed as an investment option effective July 1, 2010,
and was replaced by the Harbor International Fund  Institutional Class. Existing balances
were transferred from the Fidelity Overseas Fund to the Harbor International Fund 
Institutional Class on August 2, 2010. The Fidelity Institutional Short-Intermediate
Government Fund and Fidelity Growth Company were added as additional investment options on
December 16, 2010.Vesting Participants are immediately vested in their own contributions and in the Company
Performance Contribution, plus actual earnings thereon. Vesting in the Companys matching
contribution is based on years of continuous service. Participants vest 20% per year of
credited service and are 100% vested after five years of credited service. Forfeited balances
of terminated participants are used to reduce future Company contributions.Participant Loans Participants may borrow from their fund accounts up to a maximum amount
equal to the lesser of $50,000 or 50% of their vested account balance. Loan terms range from
one to five years or up to 20 years for the purchase of a primary residence. The loans are
secured by the balance in the participants account and bear interest at two percentage points
above the rate for five-year U.S. Treasury notes on the last day of the preceding calendar
quarter in which the funds are borrowed. Loans for the purchase of a primary residence bear
interest at the standard lending rate for 20-year fixed rate home mortgage loans. Principal and
interest are paid ratably through payroll deductions.Payment of Benefits On termination of service, a participant may elect to receive either a
lump-sum amount equal to the value of the participants vested interest in his or her account,
or in installment payments to the extent permitted by other Plan provisions. A participant may
elect to receive payment of benefits prior to termination of service, as defined in the Plan.
Participants may elect to receive their investment in the PCS stock
fund in cash or in whole shares of PCS common stock. The Plan has a dividend payout program whereby participants may
elect to receive as distributions dividends paid on their vested
shares of PCS common stock in
the PCS stock fund.
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Forfeited Accounts At December 31, 2010 and 2009, forfeited nonvested accounts totaled $0
and $1,812, respectively. These accounts are used to reduce future employer contributions.
Forfeited balances of $10,452 were used to reduce Company contributions during the year ended
December 31, 2010.Plan Amendments In 2010, the Plan was amended to (1) incorporate provisions for compliance
with the requirements of the Heroes Assistance and Relief Tax Act of 2008, (2) consolidate and
clarify the provisions addressing the direct rollover of distributions from the Plan, (3)
provide for the automatic enrollment of new hires and rehires, and (4) reflect certain
clarifying changes to the Plan.In 2009, the Plan was amended to comply with the Final Code Section 415 Regulations, the
Pension Protection Act of 2006, and subsequent laws and regulations. An amendment was made to
memorialize the terms of the 2009 White Springs Severance Program. This amendment (1)
identified participants who are covered under the Plan and the various dates of coverage, (2)
fully vested any participant who accepts the severance package, (3) defined eligibility for a
2009 performance contribution and (4) clarified how severance pay or additional compensation
would be considered in determining any type of contributions or benefits under the Plan for
participants who qualified for this program. Loan provisions under the Plan were amended to allow
participants to continue to make loan repayments after they are no longer actively employed.2.
    
    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of Accounting The accompanying financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America (GAAP).Use of Estimates The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires Plan management to make
estimates and assumptions that affect the reported amounts of net assets available for benefits
and changes therein. Actual results could differ from those estimates.Risks and Uncertainties The Plan utilizes various investment instruments, including mutual
funds, a pooled investment stable value fund, and common stock. Investment securities, in
general, are exposed to various risks, such as interest rate, credit, and overall market
volatility. Due to the level of risk associated with certain investment securities, it is
reasonably possible that changes in the values of investment securities will occur in the near
term and that such changes could materially affect the amounts reported in the financial
statements.Investment Valuation and Income Recognition The Plans investments are stated at fair value.
Shares of mutual funds are valued at quoted market prices, which represent the net asset value
of shares held by the Plan at year-end. The PCS Common Stock is valued at quoted market price.
The Fidelity Managed Income Portfolio II (the Portfolio) is stated at fair value and then
adjusted to contract value, as the Portfolios investment contracts are fully
benefit-responsive. Fair value of the Portfolio is the sum of the fair value of the underlying
investments. Contract value of the Portfolio is the sum of participant and Company
contributions, plus accrued interest thereon, less withdrawals.In accordance with GAAP, the Portfolio is presented at fair value in participant-directed
investments in the statements of net assets available for benefits and an additional line item
is presented showing the adjustment from fair value to contract value. The statement of changes
in net assets available for benefits is presented on a contract value basis.Purchases and sales of securities are recorded on a trade-date basis. Interest income is
recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
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Management fees and operating expenses charged to the Plan for investments in the mutual funds
and pooled investment stable value fund are deducted from income earned on a daily basis and
are not separately charged to an expense. Consequently, management fees and operating expenses
are reflected as a reduction of investment return for such investments.The Fidelity Managed Income Portfolio II The Portfolio is a stable value fund that is a
commingled pool of the Fidelity Group Trust for Employee Benefit Plans. The Portfolio may
invest in fixed interest insurance company investment contracts, money market funds, corporate
and government bonds, mortgage-backed securities, bond funds, and other fixed income
securities, with the objective of providing a high level of return that is consistent with also
providing stability of investment return, preservation of capital and liquidity to pay plan
benefits of its retirement plan investors. Fair value of the Portfolio is the net asset value
of its holdings at year-end. Underlying securities for which quotations are readily available
are valued at their most recent bid prices or are valued on the basis of information provided
by a pricing service. Fair value of the underlying investment contracts is estimated using a
discounted cash flow model.Participants may ordinarily direct the withdrawal or transfer of all or a portion of their
investment in the Portfolio at contract value. The crediting interest rates were 1.82% and
1.53% at December 31, 2010 and 2009, respectively, which were based on the interest rates of
the underlying portfolio of assets. The average yield for the year ended December 31, 2010, was
2.25%.Notes Receivable from Participants Notes receivable from participants are measured at their
unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are
recorded as distributions based on the terms of the Plan document.Administrative Expenses Administrative expenses of the Plan are paid by the Plan or the Plan
sponsor, as provided in the Plan document.Payment of Benefits Benefit payments to participants are recorded upon distribution. There
were no amounts allocated to accounts of participants who had elected
to withdraw from the Plan,
but had not yet been paid at December 31, 2010 and 2009.New Accounting Guidance  In January 2010, the Financial Accounting Standards Board (FASB)
issued Accounting Standards Update (ASU) No. 2010-06, Fair Value Measurements and Disclosures
(Topic 820): Improving Disclosures about Fair Value Measurements, adding new requirements for
disclosures for Levels 1 and 2, separate disclosures of purchases, sales, issuances, and
settlements relating to Level 3 measurements and clarification of existing fair value
disclosures. ASU No. 2010-06 is effective for the Plans year ended December 31, 2010, except
for the requirement to provide Level 3 activity of purchases, sales, issuances, and settlements
on a gross basis, which will be effective for the Plans year ending December 31, 2011. The
Plan has adopted the provisions of ASU No. 2010-06 relating to Levels 1 and 2 disclosures for
the year ended December 31, 2010 and will adopt the provisions relating to Level 3 for the year
ending December 31, 2011. Other than requiring additional disclosures, the adoption of this new
guidance has not and will not have a material impact on the Plans financial statements.In September 2010, the FASB issued ASU No. 2010-25, Reporting Loans to Participants by Defined
Contribution Pension Plans. This ASU requires participant loans to be classified as notes
receivable from participants, which are segregated from plan investments and measured at their
unpaid principal balance plus any accrued but unpaid interest. This guidance is effective for
the Plans year ended December 31, 2010. This guidance should be applied retrospectively to all
periods presented. The Plan adopted this guidance during 2010 and reclassified participant
loans, in the amount of $1,248,549 as of
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December 31, 2009, from plan investments to a component of receivables in the statements
of net assets available for benefits.3.
    
    INVESTMENTSThe Plans investments are shown below. Investments that represent 5% or more of the Plans net
assets available for benefits as of December 31, 2010 and 2009,
are marked with an asterisk as follows::
 2010
    
    
    2009Fixed income and bond funds:Fidelity Managed Income Portfolio II
    
    $
    3,067,660
    *
    
    $
    2,470,182
    *Fidelity Retirement Money Market Portfolio
    
    
    2,392,191
    *
    
    
    1,870,872
    *Fidelity Institutional Short-Intermediate Govt Fund
    
    
    40,051Fidelity U.S. Government Reserves Fund
    
    
    
    
    
    
    3Equity funds:Davis NY Venture A
    
    
    66,942
    
    
    
    59,037Harbor International Fund  Investor Class
    
    
    428,140T. Rowe Price Dividend Growth Fund
    
    
    1,575,831
    *
    
    
    11,940Legg Mason Value Trust FI Class
    
    
    
    
    
    
    1,574,274
    *ABF Large Cap Value Inst
    
    
    47,353
    
    
    
    23,172Fidelity Puritan Fund
    
    
    2,648,813
    *
    
    
    2,468,225
    *Fidelity OTC Portfolio
    
    
    3,948,834
    *
    
    
    3,541,198
    *Fidelity Overseas Fund
    
    
    
    
    
    
    454,245Fidelity Mid-Cap Stock Fund
    
    
    668,289
    
    
    
    429,264Fidelity Small Cap Stock Fund
    
    
    352,884
    
    
    
    230,013Fidelity Freedom Income
    
    
    16,555
    
    
    
    121,228Fidelity Freedom 2000
    
    
    5,428
    
    
    
    5,839Fidelity Freedom 2005
    
    
    3,750
    
    
    
    2,662Fidelity Freedom 2010
    
    
    56,576
    
    
    
    48,086Fidelity Freedom 2015
    
    
    348,738
    
    
    
    222,016Fidelity Freedom 2020
    
    
    494,798
    
    
    
    348,419Fidelity Freedom 2025
    
    
    200,477
    
    
    
    156,993Fidelity Freedom 2030
    
    
    107,004
    
    
    
    102,204Fidelity Freedom 2035
    
    
    52,409
    
    
    
    49,145Fidelity Freedom 2040
    
    
    100,215
    
    
    
    74,430Fidelity Freedom 2045
    
    
    58,252
    
    
    
    42,258Fidelity Freedom 2050
    
    
    69,172
    
    
    
    61,527Fidelity
Spartan U.S. Equity Index Fund
    
    
    3,283,457
    *
    
    
    2,866,028
    *PCS common stock
    
    
    6,172,137
    *
    
    
    5,468,995
    *PCS stock purchase account
    
    
    1,824
    
    
    
    1,407Total
    
    $
    26,207,780
    
    
    $
    22,703,662
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During the year ended December 31, 2010, the Plans investments (including gains and losses on
investments bought and sold, as well as held during the year) appreciated (depreciated) in
value as follows:
 Fixed income and bond funds:Fidelity Institutional Short-Intermediate Govt Fund
    
    $
    42Fidelity U.S. Government Reserves Fund
    
    
    (3
    )Equity funds:Davis NY Venture A
    
    
    6,381Harbor International Fund  Investor Class
    
    
    37,280T. Rowe Price Dividend Growth Fund
    
    
    143,739Legg Mason Value Trust FI Class
    
    
    30,289ABF Large Cap Value Inst
    
    
    5,349Fidelity
Spartan U.S. Equity Index Fund
    
    
    357,574Fidelity Puritan Fund
    
    
    269,477Fidelity OTC Portfolio
    
    
    659,418Fidelity Overseas Fund
    
    
    (21,085
    )Fidelity Mid-Cap Stock Fund
    
    
    121,839Fidelity Small Cap Stock Fund
    
    
    64,188Fidelity Freedom Income
    
    
    6,295Fidelity Freedom 2000
    
    
    288Fidelity Freedom 2005
    
    
    246Fidelity Freedom 2010
    
    
    4,441Fidelity Freedom 2015
    
    
    19,980Fidelity Freedom 2020
    
    
    42,497Fidelity Freedom 2025
    
    
    18,804Fidelity Freedom 2030
    
    
    9,873Fidelity Freedom 2035
    
    
    6,045Fidelity Freedom 2040
    
    
    10,008Fidelity Freedom 2045
    
    
    5,392Fidelity Freedom 2050
    
    
    9,005PCS common stock
    
    
    2,321,265Net appreciation of investments
    
    $
    4,128,627
 The participants in the Plan are able to redeem from the Portfolio immediately. The Portfolio
has no redemption restrictions and there is no redemption notice period required for
participants.4.
    
    EXEMPT PARTY-IN-INTEREST TRANSACTIONSCertain Plan investments are shares of mutual funds and a commingled pool managed by Fidelity.
Fidelity is the trustee as defined by the Plan, and therefore, these transactions qualify as
party-in-interest transactions. Fees paid by the Plan for the investment management services
were included as a reduction of the return earned on each fund.At December 31, 2010 and 2009, the Plan held approximately 39,864 and 50,405 shares,
respectively, of PCS common stock, with a cost basis of $4,705,711 and $5,560,067, respectively. During the year
ended December 31, 2010, the Plan recorded dividend income of $19,711.
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5.
    
    PLAN TERMINATIONAlthough it has not expressed any intention to do so, the Company has the right under the Plan
to discontinue its contributions at any time and to terminate the Plan subject to the
provisions set forth in ERISA. In the event that the Plan is terminated, participants would
become 100% vested in their accounts.6.
    
    FAIR VALUE MEASUREMENTSFair value is defined under GAAP as the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants at the
measurement date. Depending on the nature of the asset or liability, various techniques and
assumptions can be used to estimate fair value. Fair value measurements establish a fair value
hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The
hierarchy gives the highest priority to unadjusted quoted prices in active markets for
identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable
inputs (Level 3 measurements). The three levels of inputs within the fair value hierarchy are
described below:Basis of Fair Value Measurement:Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement
date for identical, unrestricted assets or liabilities;Level 2 Quoted prices in markets that are not considered to be active or financial
instruments for which all significant inputs are observable, either directly or indirectly.
Level 2 inputs may also include pricing models whose inputs are observable or derived
principally from or corroborated by observable market data;Level 3 Prices or valuations that require inputs that are both significant to the fair value
measurement and unobservable.A financial instruments level within the fair value hierarchy is based on the lowest level of
any input that is significant to the fair value measurement.The following descriptions of the valuation methods and assumptions used by the Plan to
estimate the fair values of the investments apply to the investments held.Common stock Common stocks are valued using quoted prices listed on nationally recognized
securities exchanges (Level 1 inputs).Mutual funds The fair values of mutual fund investments are determined by obtaining quoted
prices on nationally recognized securities exchanges (Level 1 inputs).Stable value funds The fair values of participation units in stable value funds are based upon
the net asset values of such fund, after adjustments to reflect all fund investments at fair
value, including direct and indirect interests in fully benefit-responsive contracts, as
reported in the audited financial statements of the fund (Level 2 inputs).
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at Fair Value as of December 31, 2010Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalPCS common stock
    
    $
    6,172,137
    
    
    $
    
    
    
    $
    
    
    
    $
    6,172,137Mutual funds:Balanced funds
    
    
    4,162,187
    
    
    
    
    
    
    
    
    
    
    
    4,162,187Large cap equity funds
    
    
    8,922,417
    
    
    
    
    
    
    
    
    
    
    
    8,922,417Mid cap equity funds
    
    
    668,289
    
    
    
    
    
    
    
    
    
    
    
    668,289Small cap equity funds
    
    
    352,884
    
    
    
    
    
    
    
    
    
    
    
    352,884International equity funds
    
    
    428,140
    
    
    
    
    
    
    
    
    
    
    
    428,140Bond fund
    
    
    40,051
    
    
    
    
    
    
    
    
    
    
    
    40,051Short term funds
    
    
    2,394,015
    
    
    
    
    
    
    
    
    
    
    
    2,394,015Stable value fund
    
    
    
    
    
    
    3,067,660
    
    
    
    
    
    
    
    3,067,660Total investment
assets  at fair value
    
    $
    23,140,120
    
    
    $
    3,067,660
    
    
    $
    
    
    
    $
    26,207,780
 Investment Assetsat Fair Value as of December 31, 2009Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalPCS common stock
    
    $
    5,468,995
    
    
    $
    
    
    
    $
    
    
    
    $
    5,468,995Mutual funds:Balanced funds
    
    
    3,703,032
    
    
    
    
    
    
    
    
    
    
    
    3,703,032Large cap equity funds
    
    
    8,075,649
    
    
    
    
    
    
    
    
    
    
    
    8,075,649Mid cap equity funds
    
    
    429,264
    
    
    
    
    
    
    
    
    
    
    
    429,264Small cap equity funds
    
    
    230,013
    
    
    
    
    
    
    
    
    
    
    
    230,013International equity funds
    
    
    454,245
    
    
    
    
    
    
    
    
    
    
    
    454,245Short term funds
    
    
    1,872,282
    
    
    
    
    
    
    
    
    
    
    
    1,872,282Stable value fund
    
    
    
    
    
    
    2,470,182
    
    
    
    
    
    
    
    2,470,182Total investment
assets  at fair value
    
    $
    20,233,480
    
    
    $
    2,470,182
    
    
    $
    
    
    
    $
    22,703,662
 7. FEDERAL INCOME TAX STATUS
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8. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
  2010
    
    
    2009Statements of net assets available for benefits:Net assets available for benefits per the financial statements
    
    $
    28,603,696
    
    
    $
    24,395,348Company performance contribution receivable
    
    
    (660,167
    )
    
    
    (395,676
    )Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
    
    
    30,291
    
    
    
    (31,035
    )Net assets available for benefits per the Form 5500
    
    $
    27,973,820
    
    
    $
    23,968,637Statement of changes in net assets available for benefits:Increase in net assets per the financial statements
    
    $
    4,208,348Increase in Company performance contribution receivable
    
    
    (264,491
    )Net change in adjustment from fair value to contract value
    
    
    61,326Changes in net assets available for benefits per the Form 5500
    
    $
    4,005,183
  - 12 -




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SUPPLEMENTAL SCHEDULE
 - 13 -




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WHITE SPRINGS AGRICULTURAL CHEMICALS, INC.  SAVINGS AND INVESTMENT PLAN
FOR COLLECTIVE BARGAINING EMPLOYEES
 
 FORM 5500  SCHEDULE H, PART IV, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2010
 
 Description of Investment, IncludingIdentity of Issuer, Borrower,
    
    Maturity Date, Rate of Interest,
    
    
    
    
    
    CurrentLessor, or Similar Party
    
    Collateral, and Par or Maturity Value
    
    Cost**
    
    
    ValueSHARES OF REGISTERED INVESTMENT COMPANIES:Davis Selected Advisors, L.P.
    
    Davis NY Venture A
    
    
    
    
    
    $
    66,942American Beacon Advisors, Inc.
    
    ABF Large Cap Value Inst
    
    
    
    
    
    
    47,353Harbor International
    
    Institutional Class
    
    
    
    
    
    
    428,140T. Rowe Price Investment Services, Inc.
    
    TRP Dividend Growth Fund
    
    
    
    
    
    
    1,575,831*
    
    Fidelity Management Trust Company
    
    Puritan Fund
    
    
    
    
    
    
    2,648,813*
    
    Fidelity Management Trust Company
    
    OTC Portfolio
    
    
    
    
    
    
    3,948,834*
    
    Fidelity Management Trust Company
    
    Mid-Cap Stock Fund
    
    
    
    
    
    
    668,289*
    
    Fidelity Management Trust Company
    
    Small Cap Stock Fund
    
    
    
    
    
    
    352,884*
    
    Fidelity Management Trust Company
    
    Freedom Income
    
    
    
    
    
    
    16,555*
    
    Fidelity Management Trust Company
    
    Freedom 2000
    
    
    
    
    
    
    5,428*
    
    Fidelity Management Trust Company
    
    Freedom 2005
    
    
    
    
    
    
    3,750*
    
    Fidelity Management Trust Company
    
    Freedom 2010
    
    
    
    
    
    
    56,576*
    
    Fidelity Management Trust Company
    
    Freedom 2015
    
    
    
    
    
    
    348,738*
    
    Fidelity Management Trust Company
    
    Freedom 2020
    
    
    
    
    
    
    494,798*
    
    Fidelity Management Trust Company
    
    Freedom 2025
    
    
    
    
    
    
    200,477*
    
    Fidelity Management Trust Company
    
    Freedom 2030
    
    
    
    
    
    
    107,004*
    
    Fidelity Management Trust Company
    
    Freedom 2035
    
    
    
    
    
    
    52,409*
    
    Fidelity Management Trust Company
    
    Freedom 2040
    
    
    
    
    
    
    100,215*
    
    Fidelity Management Trust Company
    
    Freedom 2045
    
    
    
    
    
    
    58,252*
    
    Fidelity Management Trust Company
    
    Freedom 2050
    
    
    
    
    
    
    69,172*
    
    Fidelity Management Trust Company
    
    Retirement Money Market Portfolio
    
    
    
    
    
    
    2,392,191*
    
    Fidelity Management Trust Company
    
    Spartan U.S. Equity Index Fund
    
    
    
    
    
    
    3,283,457*
    
    Fidelity Management Trust Company
    
    Institutional Short-Intermediate Govt Fund
    
    
    
    
    
    
    40,051*
    
    COMMINGLED POOL  Fidelity Management Trust Company
    
    Managed Income Portfolio II
    
    
    
    
    
    
    3,067,660*
    
    POTASH CORPORATION OF SASKATCHEWAN
    
    PCS Common Stock 39,863.959 shares
    
    
    
    
    
    
    6,172,137*
    
    PCS STOCK PURCHASE ACCOUNT
    
    Money Market
    
    $
    1,824
    
    
    
    1,824PARTICIPANT-DIRECTED INVESTMENTS
    
    
    
    
    
    
    
    
    26,207,780*
    
    PARTICIPANT LOANS
    
    Due 2011 through 2021; interest rates ranging from 3.5% to 7.0%
    
    
    
    
    
    
    1,635,752TOTAL ASSETS HELD FOR INVESTMENT
    
    
    
    
    
    
    
    $
    27,843,532
 
 *
    
    Party-in-interest.**
    
    Cost information is not required for participant-directed investments and, therefore, is not included. - 14 -




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SIGNATURES
  White Springs Agricultural Chemicals, Inc.
Savings and Investment Plan
for Collective Bargaining Employees

(Name of Plan)Date:  June  17, 2011

/s/
David R. HaverickName:
    David R. HaverickTitle:
    Senior Director, Corporate Benefits
and HR FinancePCS Administration (USA), Inc.,
as Plan Administrator




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EXHIBIT INDEX
 Exhibit Number
    
    Description of Exhibit23.1
    
    
    Consent of Deloitte & Touche LLP