EX-12 3 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  
     2007     2006     2005     2004     2003  

Fixed charges

          

Interest expense

   $ 76.3     $ 77.2     $ 64.7     $ 69.0     $ 69.6  

Interest capitalized during the period

     9.1       9.9       15.0       16.3       14.5  

Amortization of debt issuance expenses

     3.8       3.8       3.4       3.5       3.8  

Portion of rental expense representative of interest

     55.9       56.7       60.9       61.6       55.2  
                                        

Total Fixed Charges

     145.1       147.6       144.0       150.4       143.1  
                                        

Earnings

          

Income (loss) from continuing operations before income taxes

     3.5       (250.9 )     (170.9 )     (76.0 )     380.5  

Add (deduct) the following:

          

Share of loss (income) of associated companies

     —         4.5       (7.2 )     (14.0 )     (16.2 )

Amortization of capitalized interest

     14.5       13.7       12.9       11.7       10.2  
                                        

Subtotal

     18.0       (232.7 )     (165.2 )     (78.3 )     374.5  
                                        

Fixed charges per above

     145.1       147.6       144.0       150.4       143.1  

Less interest capitalized during the period

     (9.1 )     (9.9 )     (15.0 )     (16.3 )     (14.5 )
                                        

Total earnings

   $ 154.0     $ (95.0 )   $ (36.2 )   $ 55.8     $ 503.1  
                                        

Ratio of earnings to fixed charges

     1.06       *       *       *       3.52  
                                        

 

* Earnings for the years ended December 31, 2006, 2005 and 2004 were inadequate to cover fixed charges by $242.6 million, $180.2 million and $94.6 million, respectively.