Exhibit 12.2 USX CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES TOTAL ENTERPRISE BASIS - (Unaudited) ------------------------------------------------- (Dollars in Millions) Six Months Ended Year Ended December 31 June 30 -------------------------------- 1997 1996 1996 1995 1994 1993 1992 ---- ---- ---- ----- ---- ---- ---- Portion of rentals representing interest $41 $40 $80 $78 $85 $84 $87 Capitalized interest 10 6 11 13 58 105 78 Other interest and fixed charges 177 207 399 464 464 372 408 ---- ---- ---- ---- ----- ---- ---- Total fixed charges (A) $228 $253 $490 $555 $607 $561 $573 ==== ==== ==== ==== ==== ==== ==== Earnings-pretax income with applicable adjustments (B) $837 $853 $1,867 $902 $1,263 $280 $376 ==== ==== ==== ==== ==== ==== ==== Ratio of (B) to (A) 3.67 3.37 3.81 1.63 2.08 (a) (a) ==== ==== ==== ==== ==== ==== ==== <FN> (a) Earnings did not cover fixed charges by $281 million for 1993 and by $197 million for 1992.