United States Steel (X) 10-Q 2007 Q2 Quarterly report

Exhibit 12.1

United States Steel Corporation

Computation of Ratio of Earnings to Combined Fixed Charges

and Preferred Stock Dividends

(Unaudited)

	Six Months Ended June 30,				Year Ended December 31,
(Dollars in Millions)	2007		2006		2006		2005		2004		2003			2002
Portion of rentals representing interest	$	16	$	22	$	44	$	45	$	51	$	46		$	34
Capitalized interest		3		2		3		12		8		8			6
Other interest and fixed charges		50		63		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)	$	69	$	98	$	180	$	169	$	213	$	245		$	176
Earnings-pretax income with applicable adjustments (B)	$	777	$	945	$	1,884	$	1,467	$	1,687	$	(559	)	$	202
Ratio of (B) to (A)		11.26		9.64		10.47		8.68		7.92			(a)		1.15

^(a) Earnings did not cover fixed charges and preferred stock dividends by $804 million.