EX-12 3 ex12q3.txt Exhibit 12 UNISYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) ($ in millions)
Nine Months Ended Years Ended December 31 Sept. 30, ---------------------------------- 2002 2001 2000 1999 1998 1997 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 53.2 $ 70.0 $ 79.8 $127.8 $171.7 $233.2 Interest capitalized during the period 8.4 11.8 11.4 3.6 Amortization of debt issuance expenses 2.0 2.7 3.2 4.1 4.6 6.7 Portion of rental expense representative of interest 40.4 53.9 42.2 46.3 49.1 51.8 ------ ------ ------ ------ ------ ------- Total Fixed Charges 104.0 138.4 136.6 181.8 225.4 291.7 ------ ------ ------ ------ ------ ------- Earnings Income (loss) from continuing operations before income taxes 199.9 (46.5) 379.0 770.3 594.2 (748.1) Add (deduct) the following: Share of loss (income) of associated companies 13.7 (8.6) (20.5) 8.9 (.3) 5.9 Amortization of capitalized interest 6.1 5.4 2.2 ------ ------ ------ ------ ------ ------ Subtotal 219.7 (49.7) 360.7 779.2 593.9 (742.2) ------ ------ ------ ------ ------ ------ Fixed charges per above 104.0 138.4 136.6 181.8 225.4 291.7 Less interest capitalized during the period ( 8.4) (11.8) (11.4) (3.6) ------ ------ ------ ------ ------ ------ Total earnings (loss) $315.3 $76.9 $485.9 $957.4 $819.3 $(450.5) ====== ===== ====== ====== ====== ======= Ratio of earnings to fixed charges 3.03 * 3.56 5.27 3.63 * ====== ===== ====== ====== ====== =======
* Earnings for the years ended December 31, 2001 and 1997 were inadequate to cover fixed charges by approximately $61.5 million and $742.2 million, respectively.