EX-12 8 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 UNISYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) ($ in millions)
Years Ended December 31 ----------------------------------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Fixed charges Interest expense $ 70.0 $ 79.8 $ 127.8 $ 171.7 $ 233.2 Interest capitalized during the period 11.8 11.4 3.6 - - Amortization of debt issuance expenses 2.7 3.2 4.1 4.6 6.7 Portion of rental expense representative of interest 53.9 42.2 46.3 49.1 51.8 -------- --------- --------- --------- -------- Total Fixed Charges 138.4 136.6 181.8 225.4 291.7 -------- --------- --------- --------- -------- Earnings Income (loss) from continuing operations before income taxes (46.5) 379.0 770.3 594.2 (748.1) Add (deduct) the following: Share of loss (income) of associated companies (8.6) (20.5) 8.9 (.3) 5.9 Amortization of capitalized interest 5.4 2.2 - - - -------- --------- --------- --------- -------- Subtotal (49.7) 360.7 779.2 593.9 (742.2) -------- --------- --------- --------- -------- Fixed charges per above 138.4 136.6 181.8 225.4 291.7 Less interest capitalized during the period (11.8) (11.4) (3.6) - - -------- --------- --------- --------- -------- Total earnings (loss) $ 76.9 $ 485.9 $ 957.4 $ 819.3 $ (450.5) ======== ========= ========= ========= ======== Ratio of earnings to fixed charges * 3.56 5.27 3.63 * ======== ========= ========= ========= ========
* Earnings for the years ended December 31, 2001 and 1997 were inadequate to cover fixed charges by approximately $49.7 and $742.2 million, respectively.