Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - UNISYS CORP | d928416dex322.htm |
| EX-31.1 - EX-31.1 - UNISYS CORP | d928416dex311.htm |
| EX-32.1 - EX-32.1 - UNISYS CORP | d928416dex321.htm |
| EX-31.2 - EX-31.2 - UNISYS CORP | d928416dex312.htm |
| 10-Q - FORM 10-Q - UNISYS CORP | d928416d10q.htm |
Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS (UNAUDITED)
($ in millions)
| Six Months |
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| Ended | Years Ended December 31 | |||||||||||||||||||||||
| June 30, 2015 |
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
| Fixed charges |
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| Interest expense |
$ | 5.3 | $ | 9.2 | $ | 9.9 | $ | 27.5 | $ | 63.1 | $ | 101.8 | ||||||||||||
| Interest capitalized during the period |
1.8 | 4.0 | 3.2 | 5.3 | 4.9 | 9.1 | ||||||||||||||||||
| Amortization of debt issuance expenses |
.7 | 1.6 | 1.6 | 1.7 | 1.9 | 2.6 | ||||||||||||||||||
| Portion of rental expense representative of interest |
13.9 | 27.9 | 28.4 | 28.2 | 32.6 | 33.5 | ||||||||||||||||||
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| Total Fixed Charges |
21.7 | 42.7 | 43.1 | 62.7 | 102.5 | 147.0 | ||||||||||||||||||
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| Preferred stock dividend requirements (a) |
— | 2.7 | 16.2 | 16.2 | 13.5 | — | ||||||||||||||||||
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| Total fixed charges and preferred stock dividends |
21.7 | 45.4 | 59.3 | 78.9 | 116.0 | 147.0 | ||||||||||||||||||
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| Earnings |
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| Income (loss) from continuing operations before income taxes |
(78.5 | ) | 145.5 | 219.4 | 254.1 | 206.0 | 222.9 | |||||||||||||||||
| Add amortization of capitalized interest |
2.0 | 4.5 | 5.0 | 7.5 | 7.4 | 9.1 | ||||||||||||||||||
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| Subtotal |
(76.5 | ) | 150.0 | 224.4 | 261.6 | 213.4 | 232.0 | |||||||||||||||||
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| Fixed charges per above |
21.7 | 42.7 | 43.1 | 62.7 | 102.5 | 147.0 | ||||||||||||||||||
| Less interest capitalized during the period |
(1.8 | ) | (4.0 | ) | (3.2 | ) | (5.3 | ) | (4.9 | ) | (9.1 | ) | ||||||||||||
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| Total earnings |
$ | (56.6 | ) | $ | 188.7 | $ | 264.3 | $ | 319.0 | $ | 311.0 | $ | 369.9 | |||||||||||
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| Ratio of earnings to fixed charges |
* | 4.42 | 6.13 | 5.09 | 3.03 | 2.52 | ||||||||||||||||||
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| Ratio of earnings to fixed charges and preferred stock dividends (b) |
N/A | 4.16 | 4.46 | 4.04 | 2.68 | 2.52 | ||||||||||||||||||
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| (a) | Amounts have not been grossed up for income taxes since the preferred stock was issued by the U.S. parent corporation which has a full valuation allowance against its net deferred tax assets. |
| (b) | The ratio of earnings to fixed charges and preferred stock dividends is calculated by dividing total earnings by total fixed charges and preferred stock dividends. |
| * | Earnings for the six months ended June 30, 2015 were inadequate to cover fixed charges by $78.3 million. |
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