Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Nine Months Ended Sept. 30, 2010 | Years Ended December 31 | |||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest expense | $ | 76.8 | $ | 95.2 | $ | 85.1 | $ | 76.3 | $ | 77.2 | $ | 64.7 | ||||||||||||
Interest capitalized during the period | 6.8 | 7.5 | 9.0 | 9.1 | 9.9 | 15.0 | ||||||||||||||||||
Amortization of debt issuance expenses | 2.0 | 3.3 | 4.1 | 3.8 | 3.8 | 3.4 | ||||||||||||||||||
Portion of rental expense representative of interest | 26.2 | 34.9 | 46.9 | 52.4 | 53.7 | 58.0 | ||||||||||||||||||
Total Fixed Charges | 111.8 | 140.9 | 145.1 | 141.6 | 144.6 | 141.1 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 119.7 | 218.2 | (97.6 | ) | 14.8 | (228.9 | ) | (154.8 | ) | |||||||||||||||
Add (deduct) the following: | ||||||||||||||||||||||||
Share of loss (income) of associated companies | — | — | — | — | 4.5 | (7.2 | ) | |||||||||||||||||
Amortization of capitalized interest | 6.9 | 11.6 | 16.1 | 14.5 | 13.7 | 12.9 | ||||||||||||||||||
Subtotal | 126.6 | 229.8 | (81.5 | ) | 29.3 | (210.7 | ) | (149.1 | ) | |||||||||||||||
Fixed charges per above | 111.8 | 140.9 | 145.1 | 141.6 | 144.6 | 141.1 | ||||||||||||||||||
Less interest capitalized during the period | (6.8 | ) | (7.5 | ) | (9.0 | ) | (9.1 | ) | (9.9 | ) | (15.0 | ) | ||||||||||||
Total earnings (loss) | $ | 231.6 | $ | 363.2 | $ | 54.6 | $ | 161.8 | $ | (76.0 | ) | $ | (23.0 | ) | ||||||||||
Ratio of earnings to fixed charges | 2.07 | 2.58 | * | 1.14 | * | * | ||||||||||||||||||
* | Earnings for the years ended December 31, 2008, 2006 and 2005 were inadequate to cover fixed charges by $90.5 million, $220.6 million and $164.1 million, respectively. |