Exhibit 12.1
United States Steel Corporation
Computation of Ratio of Earnings to Combined Fixed Charges
and Preferred Stock Dividends
(Unaudited)
| Nine Months Ended September 30, |
Year Ended December 31, | |||||||||||||||||||||
| (Dollars in Millions) | 2007 | 2006 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
| Portion of rentals representing interest |
$ | 24 | $ | 33 | $ | 44 | $ | 45 | $ | 51 | $ | 46 | $ | 34 | ||||||||
| Capitalized interest |
5 | 3 | 3 | 12 | 8 | 8 | 6 | |||||||||||||||
| Other interest and fixed charges |
86 | 94 | 123 | 87 | 131 | 156 | 136 | |||||||||||||||
| Pretax earnings which would be required to cover preferred stock dividend requirements |
— | 11 | 10 | 25 | 23 | 35 | — | |||||||||||||||
| Combined fixed charges and preferred stock dividends (A) |
$ | 115 | $ | 141 | $ | 180 | $ | 169 | $ | 213 | $ | 245 | $ | 176 | ||||||||
| Earnings-pretax income with applicable adjustments (B) |
$ | 1,168 | $ | 1,530 | $ | 1,884 | $ | 1,467 | $ | 1,687 | $ | (559 | ) | $ | 202 | |||||||
| Ratio of (B) to (A) |
10.16 | 10.85 | 10.47 | 8.68 | 7.92 | (a) | 1.15 | |||||||||||||||
| (a) |
Earnings did not cover fixed charges and preferred stock dividends by $804 million. |