Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Three
Months
Ended
March 31, Years Ended December 31
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1997 1996 1995 1994 1993 1992
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Income (loss) from continuing
operations before income taxes $ 30.6 $ 93.7 $(781.1) $ 14.6 $370.9 $301.3
Add (deduct) share of loss (income)
of associated companies ( .1) ( 4.9) 5.0 16.6 14.5 3.2
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Subtotal 30.5 88.8 (776.1) 31.2 385.4 304.5
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Interest expense (net of interest
capitalized) 60.4 249.7 202.1 203.7 241.7 340.6
Amortization of debt issuance
expenses 1.8 6.3 5.1 6.2 6.6 4.8
Portion of rental expense
representative of interest 14.8 59.2 65.3 65.0 70.5 78.8
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Total Fixed Charges 77.0 315.2 272.5 274.9 318.8 424.2
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Earnings (loss) from continuing
operations before income
taxes and fixed charges $107.5 $404.0 $(503.6) $306.1 $704.2 $728.7
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Ratio of earnings to fixed charges 1.40 1.28 (a) 1.11 2.21 1.72
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<FN>
(a) Earnings for the year ended December 31, 1995 was inadequate to cover fixed
charges by approximately $776.1 million.