Exhibit 12.1

 

United States Steel Corporation, LLC
Computation of Ratio of Earnings to Combined Fixed Charges
And Preferred Stock Dividends
Unaudited
(Dollars in Millions)

 

 

 

Year Ended December 31

 

 

 

2002

 

2001

 

2000

 

1999

 

1998

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rentals representing interest

 

$

34

 

$

45

 

$

48

 

$

46

 

$

52

 

Capitalized interest

 

6

 

1

 

3

 

6

 

6

 

Other interest and fixed charges

 

136

 

153

 

115

 

75

 

47

 

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

 

 

12

 

12

 

14

 

15

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined fixed charges and preferred Stock dividends (A)

 

$

176

 

$

211

 

$

178

 

$

141

 

$

120

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings-pretax income with applicable adjustments (B)

 

$

183

 

$

(387

)

$

187

 

$

295

 

$

618

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of (B) to (A)

 

1.04

 

***

(a)

1.05

 

2.10

 

5.15

 

 


(a)          Earnings did not cover fixed charges and preferred stock dividends by $598 million in 2001