EXHIBIT 12.1

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Six
	Months
	Ended
	June 30,			Year Ended December 31,
	2006			2005			2004			2003			2002			2001
EARNINGS
Income from continuing operations before income from equity investees (1)	$	142.0		$	215.9		$	129.5		$	59.3		$	64.8		$	43.7
Add: Fixed Charges		60.7			92.0			54.6			43.7			39.2			38.4
Distributed income of equity investees		1.1			0.8			0.4			0.3			—			—
Subtract: Capitalized Interest		(1.7	)		(1.8	)		(0.5	)		(0.5	)		(0.8	)		(0.2	)
Total Earnings (1)	$	202.1		$	306.9		$	184.0		$	102.8		$	103.2		$	81.9
FIXED CHARGES
Interest Expensed and Capitalized (2).	$	57.0		$	84.9		$	49.2		$	36.8		$	32.8		$	33.2
Amortization of Debt Expense		1.3			2.9			2.5			3.8			3.7			2.7
Portion of rent expense related to interest (33%)		2.4			4.2			2.9			3.1			2.7			2.5
Total Fixed Charges	$	60.7		$	92.0		$	54.6		$	43.7		$	39.2		$	38.4
RATIO OF EARNINGS TO FIXED CHARGES		3.33x			3.34x			3.37x			2.36x			2.64x			2.13x

(1)

For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pretax income from continuing operations plus fixed charges (excluding capitalized interest). “Fixed charges” represent interest incurred (whether expensed or capitalized), amortization of debt expense, and that portion of rental expense on operating leases deemed to be the equivalent of interest.

(2)

Includes interest costs attributable to borrowings for inventory stored in a contango market of $21.9 million for the six months ended June 30, 2006, and $23.7 million, $2.0 million, $1.0 million, $3.0 million and $3.9 million for each of the years ended December 31, 2005, 2004, 2003, 2002, and 2001, respectively. These interest costs are included in purchases and related costs in our GMT&S segment profit as we consider interest on these borrowings a direct cost to storing the inventory.