Exhibit 12.1



EXHIBIT 12.1STATEMENT REGARDING COMPUTATION OF FINANCIAL RATIOS



(in millions, except financial ratios, share and per
share data)



|                                                                  |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |  
|----------------------------------------------------------------- |  | -------------------------------------------------------- |  | ---- | ------ | - | ---- | - | ------ | ---- |  | - | ------ | - |  | ---- | ------ | - |  | - | ------ | -
|                                                                  |  |                                                          |  | 2010 |        |   | 2009 |   |        | 2008 |  |   | 2007   |   |  | 2006 |       
|1. NET INCOME ATTRIBUTABLE TO INNOSPEC INC. AS A PERCENT OF SALES |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|A                                                                 |  | Net income attributable to Innospec Inc.                 |  | $    | 73.7   |   |      | $ | 6.4    |      |  | $ | 12.5   |   |  | $    | 29.5   |   |  | $ | 11.4   |  
|B                                                                 |  | Net sales                                                |  | $    | 683.2  |   |      | $ | 598.5  |      |  | $ | 640.5  |   |  | $    | 602.4  |   |  | $ | 532.1  |  
|A % of B                                                          |  |                                                          |  |      | 10.8   | % |      |   | 1.1    | %    |  |   | 2.0    | % |  |      | 4.9    | % |  |   | 2.1    | %
|                                                                  |  |                                                          |  |      |       
|2. EFFECTIVE INCOME TAX RATE AS A PERCENT                         |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|C                                                                 |  | Income taxes                                             |  | $    | (3.0   | ) |      | $ | 11.9   |      |  | $ | 6.3    |   |  | $    | 18.2   |   |  | $ | 20.4   |  
|D                                                                 |  | Income before income taxes                               |  | $    | 70.7   |   |      | $ | 18.3   |      |  | $ | 18.9   |   |  | $    | 47.8   |   |  | $ | 31.9   |  
|C % of D                                                          |  |                                                          |  |      | -4.2   | % |      |   | 65.0   | %    |  |   | 33.3   | % |  |      | 38.1   | % |  |   | 63.9   | %
|                                                                  |  |                                                          |  |      |       
|3. CURRENT RATIO                                                  |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|E                                                                 |  | Current assets                                           |  | $    | 321.9  |   |      | $ | 282.9  |      |  | $ | 256.6  |   |  | $    | 256.1  |   |  | $ | 305.3  |  
|F                                                                 |  | Current liabilities                                      |  | $    | 158.9  |   |      | $ | 179.9  |      |  | $ | 188.1  |   |  | $    | 160.7  |   |  | $ | 142.9  |  
|                                                                  |  | Ratio of E to F                                          |  |      | 2.0    |   |      |   | 1.6    |      |  |   | 1.4    |   |  |      | 1.6    |   |  |   | 2.1    |  
|                                                                  |  |                                                          |  |      |       
|4. EARNINGS PER SHARE ATTRIBUTABLE TO INNOSPEC INC.               |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |  
|G                                                                 |  | Net income attributable to Innospec Inc.                 |  | $    | 73.7   |   |      | $ | 6.4    |      |  | $ | 12.5   |   |  | $    | 29.5   |   |  | $ | 11.4   |  
|H                                                                 |  | Basic shares outstanding                                 |  |      | 23,756 |   |      |   | 23,642 |      |  |   | 23,595 |   |  |      | 23,920 |   |  |   | 24,141 |  
|I                                                                 |  | Diluted shares outstanding                               |  |      | 24,814 |   |      |   | 24,714 |      |  |   | 24,391 |   |  |      | 24,838 |   |  |   | 25,339 |  
|G/H                                                               |  | Basic earnings per share attributable to Innospec Inc.   |  | $    | 3.10   |   |      | $ | 0.27   |      |  | $ | 0.53   |   |  | $    | 1.23   |   |  | $ | 0.47   |  
|                                                                  |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |  
|G/I                                                               |  | Diluted earnings per share attributable to Innospec Inc. |  | $    | 2.97   |   |      | $ | 0.26   |      |  | $ | 0.51   |   |  | $    | 1.19   |   |  | $ | 0.45   |  
|                                                                  |  |                                                          |  |      |        |   |      |   |        |      |  |   |        |   |  |      |        |   |  |   |        |  

Shares in
thousands, earnings per share attributable to Innospec Inc. in dollars.