UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Nine
Months
Ended
September 30 Years Ended December 31
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1994 1993 1992 1991 1990 1989
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Income (loss) before income taxes $226.0 $503.4 $435.6 $(1,288.3) $(337.3) $(554.3)
Add (deduct) share of loss (income)
of associated companies (7.1) 14.5 3.2 (6.5) (51.8) (50.0)
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Subtotal 218.9 517.9 438.8 (1,294.8) (389.1) (604.3)
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Interest expense (net of interest
capitalized) 153.1 241.7 340.6 407.6 446.7 425.7
Amortization of debt issuance
expenses 4.6 6.6 4.8 1.8 1.5 1.6
Portion of rental expense
representative of interest 57.0 76.0 84.3 86.4 82.5 78.8
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Total Fixed Charges 214.7 324.3 429.7 495.8 530.7 506.1
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Earnings (loss) before estimated
income taxes and fixed charges $433.6 $842.2 $868.5 $(799.0) $ 141.6 $( 98.2)
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Ratio of earnings to fixed charges 2.02 2.60 2.02 (a) (a) (a)
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<FN>
(a) Earnings in 1991, 1990 and 1989 were inadequate to cover fixed charges by $1,294.8 million,
$389.1 million and $604.3 million, respectively.