Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Years Ended December 31 | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense | $ | 101.8 | $ | 95.2 | $ | 85.1 | $ | 76.3 | $ | 77.2 | ||||||||||
Interest capitalized during the period | 9.1 | 7.5 | 9.0 | 9.1 | 9.9 | |||||||||||||||
Amortization of debt issuance expenses | 2.6 | 3.3 | 4.1 | 3.8 | 3.8 | |||||||||||||||
Portion of rental expense representative of interest | 33.5 | 34.9 | 46.9 | 52.4 | 53.7 | |||||||||||||||
Total Fixed Charges | 147.0 | 140.9 | 145.1 | 141.6 | 144.6 | |||||||||||||||
Earnings | ||||||||||||||||||||
Income (loss) from continuing operations before income taxes | 222.9 | 218.2 | (97.6 | ) | 14.8 | (228.9 | ) | |||||||||||||
Add (deduct) the following: | ||||||||||||||||||||
Share of loss (income) of associated companies | — | — | — | — | 4.5 | |||||||||||||||
Amortization of capitalized interest | 9.1 | 11.6 | 16.1 | 14.5 | 13.7 | |||||||||||||||
Subtotal | 232.0 | 229.8 | (81.5 | ) | 29.3 | (210.7 | ) | |||||||||||||
Fixed charges per above | 147.0 | 140.9 | 145.1 | 141.6 | 144.6 | |||||||||||||||
Less interest capitalized during the period | (9.1 | ) | (7.5 | ) | (9.0 | ) | (9.1 | ) | (9.9 | ) | ||||||||||
Total earnings (loss) | $ | 369.9 | $ | 363.2 | $ | 54.6 | $ | 161.8 | $ | (76.0 | ) | |||||||||
Ratio of earnings to fixed charges | 2.52 | 2.58 | * | 1.14 | * | |||||||||||||||
* | Earnings for the years ended December 31, 2008 and 2006 were inadequate to cover fixed charges by $90.5 million and $220.6 million, respectively. |