Crestwood Midstream Partners 10-Q 2013 Q3 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 September 30,						For the Six Months Ended September 30,
	2013			2012			2013			2012
Earnings
Income before income taxes	$	6,735		$	14,687		$	21,240		$	31,868
Fixed charges		12,681			9,560			36,726			27,590
Capitalized interest		(499	)		(95	)		(620	)		(291	)
Amortized capitalized interest		26			21			78			63
Total earnings available for fixed charges	$	18,943		$	24,173		$	57,424		$	59,230
Fixed charges
Interest and debt expense	$	12,123		$	9,000		$	34,880		$	25,716
Interest component of rent		558			560			1,846			1,874
Total fixed charges	$	12,681		$	9,560		$	36,726		$	27,590
Ratio of earnings to fixed charges (1)		1.5			2.5			1.6			2.1

⁽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.