Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

	Twelve Months Ended December 31,															Nine Months Ended September 30, 2009
	2004			2005			2006			2007			2008
EARNINGS:
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle*	$	87,733		$	133,067		$	179,474		$	228,295		$	328,023		$	142,969
Fixed charges		46,055			65,653			57,907			57,406			57,792			53,191
Amortization of interest capitalized		463			465			475			533			641			535
Distributed income of equity investees		—			3,300			4,125			3,800			5,200			3,168
Interest capitalized		(426	)		(817	)		(2,371	)		(4,452	)		(4,803	)		(2,752	)
Total earnings	$	133,825		$	201,668		$	239,610		$	285,582		$	386,853		$	197,111
FIXED CHARGES:
Interest expense	$	42,291		$	61,551		$	52,415		$	50,504		$	51,961		$	49,446
Interest capitalized		426			817			2,371			4,452			4,803			2,752
Debt amortization expense		3,056			2,871			2,681			2,144			767			775
Rent expense representative of interest factor		282			414			440			306			261			218
Total fixed charges	$	46,055		$	65,653		$	57,907		$	57,406		$	57,792		$	53,191
Ratio of earnings to fixed charges		2.9			3.1			4.1			5.0			7.0			3.7

* Excludes income from equity investments.