<PAGE>
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
Amendment No. 1
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to __________
Commission file number: 1-8520
TERRA INDUSTRIES INC.
(Exact name of registrant as specified in its charter)
MARYLAND 52-1145429
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
TERRA CENTRE
P.O. BOX 6000
600 FOURTH STREET 51102-6000
SIOUX CITY, IOWA (Zip Code)
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (712) 277-1340
------------------------------
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [ ]
As of April 30, 1996, the following shares of the registrant's stock
were outstanding:
Common Shares, without par value 81,025,884 shares
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Part II. Other Information
Item 6. Exhibits
(a) Exhibits
27 Amended Financial Data Schedule for the three months ended
March 31, 1996 as attached hereto [EDGAR filing only].
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TERRA INDUSTRIES INC.
Date: September 20, 1996 /s/ Francis G. Meyer
--------------------
Francis G. Meyer
Senior Vice President and Chief Financial Officer
and a duly authorized signatory
14
<TABLE> <S> <C>
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<ARTICLE> 5
<LEGEND> This Schedule contains summary financial information extracted from
the consolidated statement of financial position of Terra Industries Inc. as of
March 31, 1996 and the related consolidated statement of income for the three
months then ended and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 20,751
<SECURITIES> 13,358
<RECEIVABLES> 229,612
<ALLOWANCES> (11,795)
<INVENTORY> 553,434
<CURRENT-ASSETS> 922,043
<PP&E> 910,832
<DEPRECIATION> (163,831)
<TOTAL-ASSETS> 2,074,921
<CURRENT-LIABILITIES> 636,524
<BONDS> 405,837
<COMMON> 134,219
0
0
<OTHER-SE> 456,234
<TOTAL-LIABILITY-AND-EQUITY> 2,074,921
<SALES> 388,312
<TOTAL-REVENUES> 394,741
<CGS> 277,517
<TOTAL-COSTS> 328,795
<OTHER-EXPENSES> 24,497
<LOSS-PROVISION> 555
<INTEREST-EXPENSE> 11,565
<INCOME-PRETAX> 31,660
<INCOME-TAX> 13,260
<INCOME-CONTINUING> 18,400
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 18,400
<EPS-PRIMARY> 0.23
<EPS-DILUTED> 0
</TABLE>
