EX-12.1 2 dex121.htm COMP. OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES & PREFERRED STOCK DIVIDENDS Comp. of Ratio of Earnings to Combined 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)

 

    Three Months Ended
March 31,		   Year Ended December 31,  
(Dollars in Millions)       2009             2008       2008   2007   2006   2005     2004  

Portion of rentals representing interest

   $ 7     $ 9   $ 33   $ 32   $ 44   $ 45     $ 51  

Capitalized interest

     4       2     14     7     3     12       8  

Other interest and fixed charges

     38       49     179     135     123     87       131  

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

     -       -     -     -     10     25       23  
                                               

Combined fixed charges and preferred stock dividends (A)

   $ 49     $ 60   $ 226   $ 174   $ 180   $ 169     $ 213  
                                               

(a) Earnings did not cover fixed charges by $525 million.

              

Earnings-pretax income with applicable adjustments (B)

   $ (472 )   $ 362   $ 3,203   $ 1,305   $ 1,884   $ 1,467     $ 1,687  
                                               

Ratio of (B) to (A)

     (a )     6.03     14.17     7.50     10.47     8.68       7.92  

 

(a)

Earnings did not cover fixed charges by $521 million.