Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Years Ended December 31
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2002 2001 2000 1999 1998
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FIXED CHARGES
Interest expense $ 66.5 $ 70.0 $ 79.8 $ 127.8 $ 171.7
Interest capitalized during
the period 13.9 11.8 11.4 3.6 -
Amortization of debt issuance
expenses 2.6 2.7 3.2 4.1 4.6
Portion of rental expense
representative of interest 53.0 53.9 42.2 46.3 49.1
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Total Fixed Charges 136.0 138.4 136.6 181.8 225.4
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EARNINGS
Income (loss) from continuing
operations before income taxes 332.8 (46.5) 379.0 770.3 594.2
Add (deduct) the following:
Share of loss (income) of
associated companies 14.2 (8.6) (20.5) 8.9 (.3)
Amortization of capitalized
interest 8.8 5.4 2.2 - -
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Subtotal 355.8 (49.7) 360.7 779.2 593.9
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Fixed charges per above 136.0 138.4 136.6 181.8 225.4
Less interest capitalized during
the period ( 13.9) (11.8) (11.4) (3.6) -
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Total earnings $ 477.9 $ 76.9 $ 485.9 $ 957.4 $ 819.3
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Ratio of earnings to fixed
charges 3.51 * 3.56 5.27 3.63
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* Earnings for the year ended December 31, 2001 were inadequate to cover fixed
charges by approximately $61.5 million.