Page 1 of 1 UNISYS CORPORATION STATEMENT OF COMPUTATION OF EARNINGS PER SHARE FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1994 and 1993 (UNAUDITED) (Millions, except share data) 1994 1993 ---- ---- Primary Earnings Per Common Share Average Number of Outstanding Common Shares 170,831,860 162,992,383 Additional Shares Assuming Exercise of Stock Options 970,853 1,953,007 ----------- ----------- Average Number of Outstanding Common Shares and Common Share Equivalents 171,802,713 164,945,390 =========== =========== Net Income $ 42.9 $ 84.1 Dividends on Series A, B and C Preferred Stock (30.0) (30.3) ------ ------ Primary Earnings on Common Shares $ 12.9 $ 53.8 ====== ====== Primary Earnings Per Common Share $ .08 $ .33 ====== ====== Fully Diluted Earnings Per Common Share Average Number of Outstanding Common Shares and Common Share Equivalents 171,802,713 164,945,390 Additional Shares: Assuming Conversion of 8 1/4% Convertible Notes 33,697,762 33,699,634 Attributable to Stock Options 96,648 226,420 ----------- ----------- Common Shares Outstanding Assuming Full Dilution 205,597,123 198,871,444 =========== =========== Primary Earnings on Common Shares $ 12.9 $ 53.8 Interest Expense on 8 1/4% Convertible Notes, Net of Applicable Tax 4.4 4.3 ------ ------ Fully Diluted Earnings on Common Shares $ 17.3 $ 58.1 ====== ====== Fully Diluted Earnings Per Common Share $ .08 $ .29 ====== ====== EXHIBIT 12