EXHIBIT 12.2 UNITED STATES STEEL CORPORATION, LLC COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS TOTAL ENTERPRISE BASIS--UNAUDITED CONTINUING OPERATIONS (DOLLARS IN MILLIONS)
Year Ended December 31 ---------------------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Portion of rentals representing interest .. $ 45 $ 48 $ 46 $ 52 $ 47 Capitalized interest ...................... 1 3 6 6 7 Other interest and fixed charges .......... 153 115 75 47 91 Pretax earnings which would be required to cover preferred stock dividend requirements of parent (1)... 12 12 14 15 20 ----- ----- ----- ----- ----- Combined fixed charges and preferred stock dividends (A) .................. $ 211 $ 178 $ 141 $ 120 $ 165 ===== ===== ===== ===== ===== Pretax income (loss) with applicable adjustments (2) (B) ....... $(387) $ 187 $ 295 $ 618 $ 781 ===== ===== ===== ===== ===== Ratio of (B) to (A) ....................... *** 1.05 2.10 5.15 4.72 ===== ===== ===== ===== =====
*** Earnings did not cover combined fixed charges and preferred stock dividends by $598 million in 2001. - ------------------- (1) Preferred stock dividends relate to 6.5% cumulative convertible preferred stock of USX Corporation which was historically attributed to United States Steel. (2) Applicable adjustments include fixed charges and income (loss) from equity investees.