Exhibit 12.1

Inergy, L.P. and Subsidiary

Computation of Ratio of Earnings to Fixed Charges

(In Thousands)

	Ended September 30,
	2004			2003		2002		2001		2000
Earnings:
Net income (loss)	$	(4,596	)	$	13,512	$	8,309	$	4,349	$	(1,829	)
Income taxes		167			103		93		—		7
Interest expense		7,878			9,982		8,365		6,670		2,740
Interest portion of operating leases		1,519			938		683		221		162
Earnings for ratio calculation	$	4,968		$	24,535	$	17,450	$	11,240	$	1,080
Fixed charges:
Interest expense	$	7,878		$	9,982	$	8,365	$	6,670	$	2,740
Interest portion of operating leases		1,519			938		683		221		162
Total fixed charges	$	9,397		$	10,920	$	9,048	$	6,891	$	2,902
Ratio of earnings to fixed charges		n/a			2.25		1.93		1.63		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 $4.4 million for the year ended September 30, 2004 and $1.8 million for the year ended September 30, 2000.