EX-12 4 dex12.txt RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 UNISYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED) ($ in millions) Three Months Ended Years Ended December 31 Mar. 31, ---------------------------------- 2002 2001 2000 1999 1998 1997 -------- ---- ---- ---- ---- ---- Fixed charges Interest expense $ 17.5 $ 70.0 $ 79.8 $127.8 $171.7 $233.2 Interest capitalized during the period 3.2 11.8 11.4 3.6 - - Amortization of debt issuance expenses .7 2.7 3.2 4.1 4.6 6.7 Portion of rental expense representative of interest 13.5 53.9 42.2 46.3 49.1 51.8 ------ ------ ------ ------ ------ ------- Total Fixed Charges 34.9 138.4 136.6 181.8 225.4 291.7 ------ ------ ------ ------ ------ ------- Earnings Income (loss) from continuing operations before income taxes 32.7 (46.5) 379.0 770.3 594.2 (748.1) Add (deduct) the following: Share of loss (income) of associated companies (.2) (8.6) (20.5) 8.9 (.3) 5.9 Amortization of capitalized interest 1.8 5.4 2.2 - - - ------ ------ ------ ------ ------ ------ Subtotal 34.3 (49.7) 360.7 779.2 593.9 (742.2) ------ ------ ------ ------ ------ ------ Fixed charges per above 34.9 138.4 136.6 181.8 225.4 291.7 Less interest capitalized during the period (3.2) (11.8) (11.4) (3.6) - - ------ ------ ------ ------ ----- ------ Total earnings (loss) $ 66.0 $76.9 $485.9 $957.4 $819.3 $(450.5) ====== ===== ====== ====== ====== ======= Ratio of earnings to fixed charges 1.89 * 3.56 5.27 3.63 * ====== ===== ====== ====== ====== ======= * Earnings for the years ended December 31, 2001 and 1997 were inadequate to cover fixed charges by approximately $61.5 million and $742.2 million, respectively.