Exhibit 12.1
United States Steel Corporation
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| Year Ended December 31, | ||||||||||||||||||||
| (Dollars in Millions) |
2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
| Earnings: |
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| Income (loss) before income taxes and noncontrolling interests |
$ | 27 | $ | (385) | $ | (1,845) | $ | 3,007 | $ | 1,108 | ||||||||||
| Fixed charges, as shown below |
280 | 259 | 211 | 226 | 174 | |||||||||||||||
| Adjustment for equity (income) loss |
(85) | (20) | 29 | (93) | (26) | |||||||||||||||
| Distributions from equity affiliates |
33 | 6 | 12 | 64 | 50 | |||||||||||||||
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| Adjusted Earnings (Loss) (A) |
$ | 255 | $ | (140) | $ | (1,593) | $ | 3,204 | $ | 1,306 | ||||||||||
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| Fixed charges: |
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| Portion of rentals representing interest |
$ | 36 | $ | 32 | $ | 26 | $ | 33 | $ | 32 | ||||||||||
| Capitalized interest |
39 | 16 | 15 | 14 | 7 | |||||||||||||||
| Other interest and fixed charges |
205 | 211 | 170 | 179 | 135 | |||||||||||||||
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| Total fixed charges (B) |
$ | 280 | $ | 259 | $ | 211 | $ | 226 | $ | 174 | ||||||||||
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| Ratio of (A) to (B) |
(c) | (b) | (a) | 14.18 | 7.51 | |||||||||||||||
| (a) | Earnings did not cover fixed charges by $1,804 million. |
| (b) | Earnings did not cover fixed charges by $399 million. |
| (c) | Earnings did not cover fixed charges by $25 million. |