Exhibit 12 USW-C, Inc. RATIO OF EARNINGS TO FIXED CHARGES (Dollars in Millions) Quarter Ended 03/31/98 03/31/97 - ------------------------------------------ -------- -------- Income before income taxes $ 693 $ 670 Interest expense (net of amounts capitalized) 97 103 Interest factor on rentals (1/3) 22 20 -------- -------- Earnings $ 812 $ 793 Interest expense $ 103 $ 110 Interest factor on rentals (1/3) 22 20 -------- -------- Fixed charges $ 125 $ 130 Ratio of earnings to fixed charges 6.50 6.10 - ------------------------------------------ -------- --------