Exhibit 12.2 USX CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES TOTAL ENTERPRISE BASIS - (Unaudited) ------------------------------------------------- (Dollars in Millions) Three Months Ended Year Ended December 31 March 31 -------------------------------- 1995 1994 1994 1993 1992 1991 1990 ---- ----- ---- ---- ---- ---- ---- Portion of rentals representing interest $20 $21 $85 $84 $87 $91 $88 Capitalized interest 5 24 58 105 78 63 50 Other interest and fixed charges 121 106 464 372 408 474 554 ---- ---- ----- ---- ---- ---- ------ Total fixed charges (A) $146 $151 $607 $561 $573 $628 $692 ==== ==== ==== ==== ==== ==== ==== Earnings-pretax income (loss) with applicable adjustments (B) $404 $270 $1,263 $280 $376 $(53)$1,935 ==== ==== ==== ==== ==== ==== ==== Ratio of (B) to (A) 2.78 1.79 2.08 (a) (a) (a) 2.80 ==== ==== ==== ==== ==== ==== ==== <FN> (a) Earnings did not cover fixed charges by $281 million for 1993, by $197 million for 1992 and by $681 million for 1991.