EX-12.1 3 dex121.htm COMPUTATION OF RATIO EARNINGS TO COMB. FIXED CHARGES & PREFERRED STOCK DIVIDENDS Computation of Ratio Earnings to Comb. Fixed Charges & Preferred Stock Dividends

Exhibit 12.1

United States Steel Corporation

Computation of Ratio of Earnings to Combined Fixed Charges

and Preferred Stock Dividends

(Unaudited)

 

     Six Months Ended
June 30,
   Year Ended December 31,  
(Dollars in Millions)    2008    2007    2007    2006    2005    2004      2003  

Portion of rentals representing interest

   $ 8    $ 16    $ 32    $ 44    $ 45    $ 51      $ 46  

Capitalized interest

     5      3      7      3      12      8        8  

Other interest and fixed charges

     118      50      135      123      87      131        156  

Pretax earnings which would be required to cover preferred stock dividend requirements

     -      -      -      10      25      23        35  
                                                    

Combined fixed charges and preferred stock dividends (A)

   $ 131    $ 69    $ 174    $ 180    $ 169    $ 213      $ 245  
                                                    

Earnings-pretax income with applicable adjustments (B)

   $ 1,341    $ 777    $ 1,305    $ 1,884    $ 1,467    $ 1,687      $ (559 )
                                                    

Ratio of (B) to (A)

     10.24      11.26      7.50      10.47      8.68      7.92        (a )

 

(a)

Earnings did not cover fixed charges and preferred stock dividends by $804 million.