Quarterly financial information (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly financial information (unaudited)


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
2020
Revenue	$	515.4	$	438.8	$	495.2	$	576.9	$	2,026.3
Gross profit	113.1		74.9		119.9		175.1		483.0
Income (loss) from continuing operations before income taxes	(41.9)		(66.8)		(7.2)		(155.9)		(271.8)
Income (loss) from discontinued operations, net of tax	1,068.5		(2.1)		0.4		1.6		1,068.4
Net income (loss) attributable to Unisys Corporation	1,015.3		(78.6)		(12.9)		(173.1)		750.7
Earnings (loss) per common share attributable to Unisys Corporation
Basic
Continuing operations	$	(0.85)	$	(1.21)	$	(0.21)	$	(2.77)	$	(5.05)
Discontinued operations	17.06		(0.04)		0.01		0.02		16.98
Total	$	16.21	$	(1.25)	$	(0.20)	$	(2.75)	$	11.93
Diluted
Continuing operations	$	(0.85)	$	(1.21)	$	(0.21)	$	(2.77)	$	(5.05)
Discontinued operations	17.06		(0.04)		0.01		0.02		16.98
Total	$	16.21	$	(1.25)	$	(0.20)	$	(2.75)	$	11.93

2019
Revenue	$	554.5	$	569.4	$	552.1	$	546.8	$	2,222.8
Gross profit	125.1		152.6		140.0		116.3		534.0
Income (loss) from continuing operations before income taxes	(20.7)		7.9		(15.0)		(32.8)		(60.6)
Income from discontinued operations, net of tax	13.3		25.5		16.0		20.2		75.0
Net income (loss) attributable to Unisys Corporation	(19.4)		26.2		(13.2)		(10.8)		(17.2)
Earnings (loss) per common share attributable to Unisys Corporation
Basic
Continuing operations	$	(0.64)	$	0.01	$	(0.50)	$	(0.50)	$	(1.65)
Discontinued operations	0.26		0.50		0.27		0.33		1.34
Total	$	(0.38)	$	0.51	$	(0.23)	$	(0.17)	$	(0.31)
Diluted
Continuing operations	$	(0.64)	$	0.01	$	(0.50)	$	(0.50)	$	(1.65)
Discontinued operations	0.26		0.49		0.27		0.33		1.34
Total	$	(0.38)	$	0.50	$	(0.23)	$	(0.17)	$	(0.31)

On March 13, 2020, the company completed the sale of its U.S. Federal business to Science Applications International Corporation for cash of $1.2 billion. The company’s financial statements have been retroactively reclassified to report the U.S. Federal business as discontinued operations. As a result, all items relating to the business within the consolidated statements of income (loss) have been reported as income from discontinued operations, net of tax, and all items relating to the business within the consolidated balance sheets have been reported as either assets or liabilities of discontinued operations. Depreciation, amortization, capital expenditures, and significant noncash operating and investing activities related to the U.S. Federal business were immaterial for all periods presented.

In the fourth quarter of 2020, the company recorded a pension settlement charge of $142.1 million. See Note 17, “Employee Plans,” of the Notes to Consolidated Financial Statements.

In the second quarter of 2020 and the third quarter of 2019, the company recorded a pretax charge on debt extinguishment of $28.5 million and $20.1 million, respectively. See Note 15, “Debt,” of the Notes to Consolidated Financial Statements.

In the first, second, third and fourth quarters of 2020, the company recorded pretax cost-reduction and other charges of $27.5 million, $7.9 million, $13.2 million and $46.9 million, respectively. See Note 4, “Cost reduction actions,” of the Notes to Consolidated Financial Statements.

In the first, second, third and fourth quarters of 2019, the company recorded pretax cost-reduction and other charges of $2.6 million, $2.6 million, $0.2 million and $23.3 million, respectively. See Note 4, “Cost reduction actions,” of the Notes to Consolidated Financial Statements.

The individual quarterly per-share amounts may not total to the per-share amount for the full year because of accounting rules governing the computation of earnings per share.