EX-12 2 ex12.txt Exhibit 12 UNISYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) ($ in millions) Three Months Ended Years Ended December 31 Mar. 31, ----------------------------------- 2007 2006 2005 2004 2003 2002 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 18.9 $ 77.2 $ 64.7 $ 69.0 $ 69.6 $ 66.5 Interest capitalized during the period 1.7 9.9 15.0 16.3 14.5 13.9 Amortization of debt issuance expenses 1.0 3.8 3.4 3.5 3.8 2.6 Portion of rental expense representative of interest 14.2 56.7 60.9 61.6 55.2 53.0 ------ ------ ------ ------ ------ ----- Total Fixed Charges 35.8 147.6 144.0 150.4 143.1 136.0 ------ ------ ------ ------ ------ ----- Earnings Income (loss) from continuing operations before income taxes (23.0) (250.9)(170.9) (76.0) 380.5 332.8 Add (deduct) the following: Share of loss (income) of associated companies - 4.5 (7.2) (14.0) (16.2) 14.2 Amortization of capitalized interest 3.4 13.7 12.9 11.7 10.2 8.8 ------ ------ ------ ------ ------ ----- Subtotal (19.6) (232.7)(165.2) (78.3) 374.5 355.8 ------ ------ ------ ------ ------ ----- Fixed charges per above 35.8 147.6 144.0 150.4 143.1 136.0 Less interest capitalized during the period (1.7) (9.9) (15.0) (16.3) (14.5) (13.9) ----- ------ ------ ------ ------ ------ Total earnings (loss) $14.5 $(95.0)$(36.2)$ 55.8 $503.1 $477.9 ===== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges * * * * 3.52 3.51 ===== ====== ====== ====== ====== ===== * Earnings for the three months and years ended March 31, 2007, December 31, 2006, 2005 and 2004 were inadequate to cover fixed charges by $21.3 million, $242.6 million, $180.2 million and $94.6 million, respectively.