Exhibit 12.1

Inergy, L.P. and Subsidiary

Computation of Earnings to Fixed Charges

(In Thousands)

	Three Months Ended						Nine Months Ended
	6/30/2005			6/30/2004			6/30/2005		6/30/2004
Earnings:
Net income (loss)	$	(24,118	)	$	(9,800	)	$	41,842	$	4,992
Income taxes		24			113			358		164
Interest expense		9,144			1,443			23,018		5,810
Interest expense related to write-off of deferred financing costs		—			—			6,990		1,216
Interest expense related to make whole premium charge		—			—			—		17,949
Interest income related to swap value received		—			—			—		(949	)
Interest portion of operating leases		751			415			2,090		1,096
Earnings for ratio calculation	$	(14,199	)	$	(7,829	)	$	74,298	$	30,278
Fixed charges:
Interest expense	$	9,144		$	1,443		$	23,018	$	5,810
Interest expense related to write-off of deferred financing costs		—			—			6,990		1,216
Interest expense related to make whole premium charge		—			—			—		17,949
Interest income related to swap value received		—			—			—		(949	)
Interest portion of operating leases		751			415			2,090		1,096
Total fixed charges	$	9,895		$	1,858		$	32,098	$	25,122
Ratio of earnings to fixed charges		n/a			n/a			2.31		1.21

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, the amortization of deferred financing costs, interest expense related to the write-off of deferred financing costs and interest associated with operating losses. Earnings were inadequate to cover fixed charges by $24.1 million for the three months ended June 30, 2005 and $9.7 million for the three months ended June 30, 2004.