Exhibit 12.1

Inergy, L.P. and Subsidiary

Computation of Ratio of Earnings to Fixed Charges

(In Thousands)

	Ended September 30,
	2003		2002		2001		2000			1999
Earnings:
Net income (loss)	$	13,512	$	8,309	$	4,349	$	(1,829	)	$	(185	)
Income taxes		103		93		—		7			56
Interest expense		9,982		8,365		6,670		2,740			962
Interest portion of operating leases		938		683		221		162			75
Earnings for ratio calculation	$	24,535	$	17,450	$	11,240	$	1,080		$	908
Fixed charges:
Interest expense	$	9,982	$	8,365	$	6,670	$	2,740		$	962
Interest portion of operating leases		938		683		221		162			75
Total fixed charges	$	10,920	$	9,048	$	6,891	$	2,902		$	1,037
Ratio of earnings to fixed charges		2.25		1.93		1.63		n/a			n/a

For purposes of determining the ratio of earnings to fixed charges, earnings are defined as earnings (loss) from continuing operations before income taxes, plus fixed charges. Fixed charges consist of interest expense on all indebtedness and the amortization of deferred financing costs and interest associated with operating leases. Earnings were inadequate to cover fixed charges by $1.8 million for the year ended September 30, 2000 and $0.1 million for the year ended September 30, 1999.