EX-12 2 ex12secondq.txt Exhibit 12 UNISYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) ($ in millions) Six Months Ended Years Ended December 31 June 30, ----------------------------------- 2005 2004 2003 2002 2001 2000 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 27.8 $ 69.0 $ 69.6 $ 66.5 $ 70.0 $ 79.8 Interest capitalized during the period 9.1 16.3 14.5 13.9 11.8 11.4 Amortization of debt issuance expenses 1.7 3.5 3.8 2.6 2.7 3.2 Portion of rental expense representative of interest 30.8 61.6 55.2 53.0 53.9 42.2 ------ ------ ------ ------ ------ ----- Total Fixed Charges 69.4 150.4 143.1 136.0 138.4 136.6 ------ ------ ------ ------ ------ ----- Earnings Income (loss) from continuing operations before income taxes (118.1) (76.0) 380.5 332.8 (73.0) 348.5 Add (deduct) the following: Share of loss (income) of associated companies (10.5) (14.0) (16.2) 14.2 ( 8.6) (20.5) Amortization of capitalized interest 6.4 11.7 10.2 8.8 5.4 2.2 ------ ------ ------ ------ ------ ----- Subtotal (122.2) (78.3) 374.5 355.8 (76.2) 330.2 ------ ------ ------ ------ ------ ----- Fixed charges per above 69.4 150.4 143.1 136.0 138.4 136.6 Less interest capitalized during the period (9.1) (16.3) (14.5) (13.9) (11.8) (11.4) ------ ------ ------ ------ ------ ------ Total earnings (loss) $( 61.9) $ 55.8 $503.1 $477.9 $ 50.4 $455.4 ====== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges * * 3.52 3.51 * 3.33 ====== ====== ====== ====== ====== ===== * Earnings for the six months ended June 30, 2005 and for the years ended December 31, 2004 and 2001 were inadequate to cover fixed charges by $131.3 million, $94.6 million and $88.0 million, respectively.