Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)
($ in millions)
Years Ended December 31
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1998 1997 1996 1995 1994
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Income (loss) from continuing
operations before income taxes $604.7 $(729.8) $ 86.7 $(781.1) $ 14.6
Add (deduct) share of loss
(income) of associated
companies (.3) 5.9 (4.9) 5.0 16.6
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Subtotal 604.4 (723.9) 81.8 (776.1) 31.2
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Interest expense 171.7 233.2 249.7 202.1 203.7
Amortization of debt issuance
expenses 4.6 6.7 6.3 5.1 6.2
Portion of rental expense
representative of interest 48.5 51.2 59.2 65.3 65.0
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Total Fixed Charges 224.8 291.1 315.2 272.5 274.9
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Earnings (loss) from continuing
operations before income
taxes and fixed charges $829.2 $(432.8) $397.0 $(503.6) $306.1
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Ratio of earnings to fixed
charges 3.69 * 1.26 * 1.11
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* Earnings for the years ended December 31, 1997 and 1995 were inadequate to
cover fixed charges by approximately $723.9 and $776.1 million, respectively.