EX-12 6 dex12.txt 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 ----------------------------------------------- 2002 2001 2000 1999 1998 ------- ------- ------- ------- ------- FIXED CHARGES Interest expense $ 66.5 $ 70.0 $ 79.8 $ 127.8 $ 171.7 Interest capitalized during the period 13.9 11.8 11.4 3.6 - Amortization of debt issuance expenses 2.6 2.7 3.2 4.1 4.6 Portion of rental expense representative of interest 53.0 53.9 42.2 46.3 49.1 ------- ------- ------- ------- ------- Total Fixed Charges 136.0 138.4 136.6 181.8 225.4 ------- ------- ------- ------- ------- EARNINGS Income (loss) from continuing operations before income taxes 332.8 (46.5) 379.0 770.3 594.2 Add (deduct) the following: Share of loss (income) of associated companies 14.2 (8.6) (20.5) 8.9 (.3) Amortization of capitalized interest 8.8 5.4 2.2 - - ------- ------- ------- ------- ------- Subtotal 355.8 (49.7) 360.7 779.2 593.9 ------- ------- ------- ------- ------- Fixed charges per above 136.0 138.4 136.6 181.8 225.4 Less interest capitalized during the period ( 13.9) (11.8) (11.4) (3.6) - ------- ------- ------- ------- ------- Total earnings $ 477.9 $ 76.9 $ 485.9 $ 957.4 $ 819.3 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 3.51 * 3.56 5.27 3.63 ======= ======= ======= ======= =======
* Earnings for the year ended December 31, 2001 were inadequate to cover fixed charges by approximately $61.5 million.