ÁñÁ«ÊÓƵ

Exhibit 12.2

 

ÁñÁ«ÊÓƵ

Computation of Ratio of Earnings to Fixed Charges

(Unaudited)

 

   

Six Months Ended

June 30,

  Year Ended December 31,  
(Dollars in Millions)     2006       2005*     2005   2004   2003     2002   2001  

Portion of rentals representing interest

  $ 22   $ 24   $ 45   $ 51   $ 46     $ 34   $ 45  

Capitalized interest

    2     4     12     8     8       6     1  

Other interest and fixed charges

    63     31     87     131     156       136     153  
   


Total fixed charges (A)

  $ 87   $ 59   $ 144   $ 190   $ 210     $ 176   $ 199  
   


Earnings-pretax income with applicable adjustments (B)

  $ 945   $ 1,023   $ 1,467   $ 1,687   $ (559 )   $ 202   $ (382 )
   


Ratio of (B) to (A)

    10.86     17.34     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 Kosice'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 six months ended June 30, 2005 have been adjusted to apply this change retrospectively.
(a) Earnings did not cover fixed charges by $769 million.
(b) Earnings did not cover fixed charges by $581 million.