Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

	Twelve Months Ended December 31,															Three Months Ended March 31, 2007
	2002			2003			2004			2005			2006
EARNINGS:
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle *	$	107,495		$	88,169		$	108,601		$	156,379		$	189,404		$	48,939
Fixed charges		33,344			39,779			41,657			56,656			60,599			15,641
Amortization of capitalized interest		471			462			463			465			475			131
Distributed income of equity investees		—			—			—			3,300			4,125			1,100
Capitalized interest		(231	)		(102	)		(426	)		(817	)		(2,371	)		(897	)
Total earnings	$	141,079		$	128,308		$	150,295		$	215,983		$	252,232		$	64,914
FIXED CHARGES:
Interest expense	$	22,907		$	36,597		$	37,893		$	52,554		$	55,107		$	13,970
Capitalized interest		231			102			426			817			2,371			897
Debt expense amortization		9,950			2,830			3,056			2,871			2,681			645
Rent expense representative of interest factor		256			250			282			414			440			129
Total fixed charges	$	33,344		$	39,779		$	41,657		$	56,656		$	60,599		$	15,641
Ratio of earnings to fixed charges		4.2			3.2			3.6			3.8			4.2			4.2

* Excludes income from equity investments and minority interest expense.