EX-12.1 8 x20131231ex121.htm EXHIBIT X 2013.12.31 Ex 12.1
Exhibit 12.1

United States Steel Corporation
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)

 
 
Year Ended December 31,
(Dollars in Millions)
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings:
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes and noncontrolling interests
 
$
(2,232
)
 
$
6

 
$
27

 
$
(385
)
 
$
(1,845
)
Fixed charges, as shown below
 
373

 
306

 
280

 
259

 
211

Adjustment for equity (income) loss
 
(40
)
 
(144
)
 
(85
)
 
(20
)
 
29

Capitalized Interest
 
(19
)
 
(41
)
 
(39
)
 
(16
)
 
(15
)
Distributions from equity affiliates
 
13

 
99

 
33

 
6

 
12

Adjusted (Loss) Earnings (A)
 
$
(1,905
)
 
$
226

 
$
216

 
$
(156
)
 
$
(1,608
)
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Portion of rentals representing interest
 
$
41

 
$
34

 
$
36

 
$
32

 
$
26

Capitalized interest
 
19

 
41

 
39

 
16

 
15

Other interest and fixed charges
 
313

 
231

 
205

 
211

 
170

Total fixed charges (B)
 
$
373

 
$
306

 
$
280

 
$
259

 
$
211

Ratio of (A) to (B)
 
(e)

 
(d)

 
(c)

 
(b)

 
(a)


(a)
Earnings did not cover fixed charges by $1,819 million.
(b)
Earnings did not cover fixed charges by $415 million.
(c)
Earnings did not cover fixed charges by $64 million.
(d)
Earnings did not cover fixed charges by $80 million.
(e)
Earnings did not cover fixed charges by $2,278 million.