Crestwood Midstream Partners 10-Q 2013 Q2 Quarterly report

Exhibit 12.1

CRESTWOOD MIDSTREAM PARTNERS LP

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratio)

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Earnings
Income before income taxes	$	5,209		$	7,073		$	14,505		$	17,181
Fixed charges		11,900			9,636			24,045			18,030
Capitalized interest		(121	)		(105	)		(121	)		(196	)
Amortized capitalized interest		26			21			52			42
Total earnings available for fixed charges	$	17,014		$	16,625		$	38,481		$	35,057
Fixed charges
Interest and debt expense	$	11,307		$	9,069		$	22,757		$	16,716
Interest component of rent		593			567			1,288			1,314
Total fixed charges	$	11,900		$	9,636		$	24,045		$	18,030
Ratio of earnings to fixed charges(1)		1.4			1.7			1.6			1.9

(1) For purposes of computing the ratio of earnings to fixed charges, “earnings” consists of pretax income from continuing operations plus fixed charges (excluding capitalized interest) and amortized capitalized interest. “Fixed charges” represents interest incurred (whether expensed or capitalized), amortization of debt costs and that portion of rental expense on operating leases deemed to be the equivalent of interest.