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) | 2008 | 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
| Portion of rentals representing interest |
$ | 9 | $ | 8 | $ | 32 | $ | 44 | $ | 45 | $ | 51 | $ | 46 | ||||||||
| Capitalized interest |
2 | 1 | 7 | 3 | 12 | 8 | 8 | |||||||||||||||
| Other interest and fixed charges |
49 | 21 | 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) |
$ | 60 | $ | 30 | $ | 174 | $ | 180 | $ | 169 | $ | 213 | $ | 245 | ||||||||
| Earnings-pretax income with applicable adjustments (B) |
$ | 362 | $ | 378 | $ | 1,305 | $ | 1,884 | $ | 1,467 | $ | 1,687 | $ | (559 | ) | |||||||
| Ratio of (B) to (A) |
6.03 | 12.60 | 7.50 | 10.47 | 8.68 | 7.92 | (a) | |||||||||||||||
| (a) |
Earnings did not cover fixed charges and preferred stock dividends by $804 million. |