Exhibit 12.2
ÁñÁ«ÊÓƵ
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
| Three Months Ended March 31, |
Year Ended December 31, |
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| (Dollars in Millions) | 2006 | 2005* | 2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
| Portion of rentals representing interest |
$ | 11 | $ | 13 | $ | 45 | $ | 51 | $ | 46 | $ | 34 | $ | 45 | |||||||||
| Capitalized interest |
1 | 3 | 12 | 8 | 8 | 6 | 1 | ||||||||||||||||
| Other interest and fixed charges |
32 | 2 | 87 | 131 | 156 | 136 | 153 | ||||||||||||||||
| Total fixed charges (A) |
$ | 44 | $ | 18 | $ | 144 | $ | 190 | $ | 210 | $ | 176 | $ | 199 | |||||||||
| Earnings-pretax income with applicable adjustments (B) |
$ | 403 | $ | 649 | $ | 1,467 | $ | 1,687 | $ | (559 | ) | $ | 202 | $ | (382 | ) | |||||||
| Ratio of (B) to (A) |
9.16 | 36.06 | 10.19 | 8.88 | (a | ) | 1.15 | (b | ) | ||||||||||||||
| * | During the fourth quarter of 2005, U.S. Steel changed its method of determining the cost of U. S. Steel Kocice’s inventories from the last-in, first-out method to the first-in, first-out method. See Note 2 to the financial statements in the ÁñÁ«ÊÓƵ 2005 Annual Report on Form 10-K. Results for the three months ended March 31, 2005 have been adjusted to apply this change retrospectively. |
| (a) | Earnings did not cover fixed charges and preferred stock dividends by $769 million. |
| (b) | Earnings did not cover fixed charges and preferred stock dividends by $581 million. |