Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Three
Months
Ended Years Ended December 31
Mar. 31, ----------------------------------
2009 2008 2007 2006 2005 2004
-------- ---- ---- ---- ---- ----
Fixed charges
Interest expense $ 21.8 $ 85.1 $ 76.3 $ 77.2 $ 64.7 $ 69.0
Interest capitalized during
the period 1.7 9.0 9.1 9.9 15.0 16.3
Amortization of debt issuance
expenses 1.1 4.1 3.8 3.8 3.4 3.5
Portion of rental expense
representative of interest 12.7 50.6 55.9 56.7 60.9 61.6
------ ------ ------ ------ ------ -----
Total Fixed Charges 37.3 148.8 145.1 147.6 144.0 150.4
------ ------ ------ ------ ------ -----
Earnings
Income (loss) from continuing
operations before income taxes# (6.5) (64.5) 29.4 (242.2)(203.1) (85.5)
Add (deduct) the following:
Share of loss (income) of
associated companies - - - 4.5 (7.2) (14.0)
Amortization of capitalized
interest 4.1 16.1 14.5 13.7 12.9 11.7
----- ------ ------ ------ ------ -----
Subtotal (2.4) (48.4) 43.9 (224.0)(197.4) (87.8)
----- ------ ------ ------ ------ -----
Fixed charges per above 37.3 148.8 145.1 147.6 144.0 150.4
Less interest capitalized during
the period (1.7) (9.0) (9.1) (9.9) (15.0) (16.3)
----- ------ ------ ------ ------ ------
Total earnings (loss) $33.2 $ 91.4 $179.9 $(86.3)$(68.4)$ 46.3
===== ====== ====== ====== ====== ======
Ratio of earnings to fixed
charges * * 1.24 * * *
===== ====== ====== ====== ====== =====
# Amounts for the years 2004-2008 have been reclassified to reflect the
adoption of Statement of Financial Accounting Standards No. 160,
"Noncontrolling Interests in Consolidated Financial Statements."
* Earnings for the three months ended March 31, 2009 and the years ended
December 31, 2008, 2006, 2005 and 2004 were inadequate to cover fixed charges
by $4.1 million, $57.4 million, $233.9 million, $212.4 million and $104.1
million, respectively.