EX-12 3 ex12firstq.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, ----------------------------------- 2008 2007 2006 2005 2004 2003 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 21.6 $ 76.3 $ 77.2 $ 64.7 $ 69.0 $ 69.6 Interest capitalized during the period 2.5 9.1 9.9 15.0 16.3 14.5 Amortization of debt issuance expenses 1.1 3.8 3.8 3.4 3.5 3.8 Portion of rental expense representative of interest 14.0 55.9 56.7 60.9 61.6 55.2 ------ ------ ------ ------ ------ ----- Total Fixed Charges 39.2 145.1 147.6 144.0 150.4 143.1 ------ ------ ------ ------ ------ ----- Earnings Income (loss) from continuing operations before income taxes .4 3.5 (250.9)(170.9) (76.0) 380.5 Add (deduct) the following: Share of loss (income) of associated companies - - 4.5 (7.2) (14.0) (16.2) Amortization of capitalized interest** 3.0 17.8 13.7 12.9 11.7 10.2 ------ ------ ------ ------ ------ ----- Subtotal 3.4 21.3 (232.7)(165.2) (78.3) 374.5 ------ ------ ------ ------ ------ ----- Fixed charges per above 39.2 145.1 147.6 144.0 150.4 143.1 Less interest capitalized during the period (2.5) (9.1) (9.9) (15.0) (16.3) (14.5) ----- ------ ------ ------ ------ ------ Total earnings (loss) $40.1 $157.3 $(95.0)$(36.2)$ 55.8 $503.1 ===== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges 1.02 1.08 * * * 3.52 ===== ====== ====== ====== ====== ===== * Earnings for the years December 31, 2006, 2005 and 2004 were inadequate to cover fixed charges by $242.6 million, $180.2 million and $94.6 million, respectively. ** The amount of amortization of capitalized interest as well as the resulting ratio of earnings to fixed charges for 2007 have been restated to increase the amortization by $3.3 million and the ratio by .02, respectively.