EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 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

 
     2005

    2004

    2003

    2002

    2001

 

Fixed charges

                                        

Interest expense

   $ 64.7     $ 69.0     $ 69.6     $ 66.5     $ 70.0  

Interest capitalized during the period

     15.0       16.3       14.5       13.9       11.8  

Amortization of debt issuance expenses

     3.4       3.5       3.8       2.6       2.7  

Portion of rental expense representative of interest

     60.9       61.6       55.2       53.0       53.9  
    


 


 


 


 


Total Fixed Charges

     144.0       150.4       143.1       136.0       138.4  
    


 


 


 


 


Earnings

                                        

Income (loss) from continuing operations before income taxes

     (170.9 )     (76.0 )     380.5       332.8       (73.0 )

Add (deduct) the following:

                                        

Share of loss (income) of associated companies

     (7.2 )     (14.0 )     16.2       14.2       (8.6 )

Amortization of capitalized interest

     12.9       11.7       10.2       8.8       5.4  
    


 


 


 


 


Subtotal

     (165.2 )     (78.3 )     374.5       355.8       (76.2 )
    


 


 


 


 


Fixed charges per above

     144.0       150.4       143.1       136.0       138.4  

Less interest capitalized during the period

     (15.0 )     (16.3 )     (14.5 )     (13.9 )     (11.8 )
    


 


 


 


 


Total earnings

   $ (36.2 )   $ 55.8     $ 503.1     $ 477.9     $ 50.4  
    


 


 


 


 


Ratio of earnings to fixed charges

     *       *       3.52       3.51       *  
    


 


 


 


 


 

* Earnings for the years ended December 31, 2005, 2004 and 2001 were inadequate to cover fixed charges by $180.2 million, $94.6 million and $88.0 million, respectively.