EX-12 2 ex12third.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, -------------------------------- 2004 2003 2002 2001 2000 1999 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 51.4 $ 69.6 $ 66.5 $ 70.0 $ 79.8 $127.8 Interest capitalized during the period 12.0 14.5 13.9 11.8 11.4 3.6 Amortization of debt issuance expenses 2.6 3.8 2.6 2.7 3.2 4.1 Portion of rental expense representative of interest 41.4 55.2 53.0 53.9 42.2 46.3 ------ ------ ------ ------ ------ ----- Total Fixed Charges 107.4 143.1 136.0 138.4 136.6 181.8 ------ ------ ------ ------ ------ ----- Earnings Income (loss) from continuing operations before income taxes 13.9 380.5 332.8 (73.0) 348.5 751.7 Add (deduct) the following: Share of loss (income) of associated companies ( 6.1) (16.2) 14.2 (8.6) (20.5) 8.9 Amortization of capitalized interest 8.6 10.2 8.8 5.4 2.2 - ------ ------ ------ ------ ------ ----- Subtotal 16.4 374.5 355.8 (76.2) 330.2 760.6 ------ ------ ------ ------ ------ ----- Fixed charges per above 107.4 143.1 136.0 138.4 136.6 181.8 Less interest capitalized during the period (12.0) (14.5) (13.9) (11.8) (11.4) (3.6) ------ ------ ------ ------ ------ ------ Total earnings $111.8 $503.1 $477.9 $ 50.4 $455.4 $938.8 ====== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges 1.04 3.52 3.51 * 3.33 5.16 ====== ====== ====== ====== ====== ===== * Earnings for the year ended December 31, 2001 were inadequate to cover fixed charges by approximately $88 million.