Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

	Twelve Months Ended December 31,
	2001			2002			2003			2004			2005
EARNINGS:
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle *	$	97,613		$	107,495		$	88,169		$	108,601		$	156,379
Fixed charges		15,755			33,344			39,779			41,657			56,656
Amortization of capitalized interest		465			471			462			463			465
Distributed income of equity investees		—			—			—			—			3,300
Capitalized interest		(764	)		(231	)		(102	)		(426	)		(817	)
Total earnings	$	113,069		$	141,079		$	128,308		$	150,295		$	215,983
FIXED CHARGES:
Interest expense	$	14,606		$	22,907		$	36,597		$	37,893		$	52,554
Capitalized interest		764			231			102			426			817
Debt expense amortization		253			9,950			2,830			3,056			2,871
Rent expense representative of interest factor		132			256			250			282			414
Total fixed charges	$	15,755		$	33,344		$	39,779		$	41,657		$	56,656
Ratio of earnings to fixed charges		7.2			4.2			3.2			3.6			3.8

* Excludes equity investment income and minority interest expense.