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  
     2009     2008     2007     2006     2005  

Fixed charges

          

Interest expense

   $ 95.2      $ 85.1      $ 76.3      $ 77.2      $ 64.7   

Interest capitalized during the period

     7.5        9.0        9.1        9.9        15.0   

Amortization of debt issuance expenses

     3.3        4.1        3.8        3.8        3.4   

Portion of rental expense representative of interest

     38.0        50.6        55.9        56.7        60.9   
                                        

Total Fixed Charges

     144.0        148.8        145.1        147.6        144.0   
                                        

Earnings

          

Income (loss) from continuing operations before income taxes (1)

     234.6        (64.5     29.4        (242.2     (203.1

Add (deduct) the following:

          

Share of loss (income) of associated companies

     —          —          —          4.5        (7.2

Amortization of capitalized interest

     11.6        16.1        14.5        13.7        12.9   
                                        

Subtotal

     246.2        (48.4     43.9        (224.0     (197.4
                                        

Fixed charges per above

     144.0        148.8        145.1        147.6        144.0   

Less interest capitalized during the period

     (7.5     (9.0     (9.1     (9.9     (15.0
                                        

Total earnings (loss)

   $ 382.7      $ 91.4      $ 179.9      $ (86.3   $ (68.4
                                        

Ratio of earnings to fixed charges

     2.66        *        1.24        *        *   
                                        

 

(1) Amounts for the years 2005-2008 have been reclassified to reflect the adoption of an accounting standard which changed the presentation and disclosure of noncontrolling interests in consolidated financial statements.
* Earnings for the years ended December 31, 2008, 2006 and 2005 were inadequate to cover fixed charges by $57.4 million, $233.9 million and $212.4 million, respectively.