Exhibit 12.1
United States Steel Corporation
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| Year Ended December 31, | ||||||||||||||||||||
| (Dollars in Millions) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||
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| Earnings: |
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| Income (loss) before income taxes and noncontrolling interests |
$ | 6 | $ | 27 | $ | (385 | ) | $ | (1,845 | ) | $ | 3,007 | ||||||||
| Fixed charges, as shown below |
306 | 280 | 259 | 211 | 226 | |||||||||||||||
| Adjustment for equity (income) loss |
(144 | ) | (85 | ) | (20 | ) | 29 | (93 | ) | |||||||||||
| Capitalized Interest |
(41 | ) | (39 | ) | (16 | ) | (15 | ) | (14 | ) | ||||||||||
| Distributions from equity affiliates |
99 | 33 | 6 | 12 | 64 | |||||||||||||||
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| Adjusted Earnings (Loss) (A) |
$ | 226 | $ | 216 | $ | (156 | ) | $ | (1,608 | ) | $ | 3,190 | ||||||||
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| Fixed charges: |
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| Portion of rentals representing interest |
$ | 34 | $ | 36 | $ | 32 | $ | 26 | $ | 33 | ||||||||||
| Capitalized interest |
41 | 39 | 16 | 15 | 14 | |||||||||||||||
| Other interest and fixed charges |
231 | 205 | 211 | 170 | 179 | |||||||||||||||
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| Total fixed charges (B) |
$ | 306 | $ | 280 | $ | 259 | $ | 211 | $ | 226 | ||||||||||
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| Ratio of (A) to (B) |
(d | ) | (c | ) | (b | ) | (a | ) | 14.12 | |||||||||||
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| (a) | Earnings did not cover fixed charges by $1,819 million. |
| (b) | Earnings did not cover fixed charges by $415 million. |
| (c) | Earnings did not cover fixed charges by $64 million. |
| (d) | Earnings did not cover fixed charges by $80 million. |