EX-12 3 ex12secondq.txt RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 UNISYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions)
Six Months Ended Years Ended December 31 June 30, ----------------------------------- 2003 2002 2001 2000 1999 1998 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 34.1 $ 66.5 $ 70.0 $ 79.8 $127.8 $171.7 Interest capitalized during the period 6.5 13.9 11.8 11.4 3.6 - Amortization of debt issuance expenses 1.5 2.6 2.7 3.2 4.1 4.6 Portion of rental expense representative of interest 26.5 53.0 53.9 42.2 46.3 49.1 ------ ------ ------ ------ ------ ------ Total Fixed Charges 68.6 136.0 138.4 136.6 181.8 225.4 ------ ------ ------ ------ ------ ------ Earnings Income (loss) from continuing operations before income taxes 135.7 332.8 (73.0) 348.5 751.7 594.2 Add (deduct) the following: Share of loss (income) of associated companies (9.2) 14.2 (8.6) (20.5) 8.9 (.3) Amortization of capitalized interest 4.9 8.8 5.4 2.2 - - ------ ------ ------ ------ ------ ------ Subtotal 131.4 355.8 (76.2) 330.2 760.6 593.9 ------ ------ ------ ------ ------ ------ Fixed charges per above 68.6 136.0 138.4 136.6 181.8 225.4 Less interest capitalized during the period (6.5) (13.9) (11.8) (11.4) (3.6) - ------ ------ ------ ------ ------ ------ Total earnings $193.5 $477.9 $ 50.4 $455.4 $938.8 $819.3 ====== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges 2.82 3.51 * 3.33 5.16 3.63 ====== ====== ====== ====== ====== ======
* Earnings for the year ended December 31, 2001 were inadequate to cover fixed charges by approximately $88.0 million.