EX-12 2 ex12-secondq.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, ---------------------------------- 2009 2008 2007 2006 2005 2004 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 43.0 $ 85.1 $ 76.3 $ 77.2 $ 64.7 $ 69.0 Interest capitalized during the period 3.4 9.0 9.1 9.9 15.0 16.3 Amortization of debt issuance expenses 1.9 4.1 3.8 3.8 3.4 3.5 Portion of rental expense representative of interest 25.3 50.6 55.9 56.7 60.9 61.6 ------ ------ ------ ------ ------ ----- Total Fixed Charges 73.6 148.8 145.1 147.6 144.0 150.4 ------ ------ ------ ------ ------ ----- Earnings Income (loss) from continuing operations before income taxes(1) 50.7 (64.5) 29.4 (242.2)(203.1) (85.5) Add (deduct) the following: Share of loss (income) of associated companies - - - 4.5 (7.2) (14.0) Amortization of capitalized interest 6.9 16.1 14.5 13.7 12.9 11.7 ----- ------ ------ ------ ------ ----- Subtotal 57.6 (48.4) 43.9 (224.0)(197.4) (87.8) ----- ------ ------ ------ ------ ----- Fixed charges per above 73.6 148.8 145.1 147.6 144.0 150.4 Less interest capitalized during the period (3.4) (9.0) (9.1) (9.9) (15.0) (16.3) ----- ------ ------ ------ ------ ------ Total earnings (loss) $127.8 $ 91.4 $179.9 $(86.3)$(68.4)$ 46.3 ====== ====== ====== ====== ====== ====== Ratio of earnings to fixed charges 1.74 * 1.24 * * * ===== ====== ====== ====== ====== ===== (1) Amounts for the years 2004-2008 have been reclassified to reflect the adoption of Statement of Financial Accounting Standards No. 160, "Noncontrolling Interests in Consolidated Financial Statements." * Earnings for the years ended December 31, 2008, 2006, 2005 and 2004 were inadequate to cover fixed charges by $57.4 million, $233.9 million, $212.4 million and $104.1 million, respectively.