Attached files
file | filename |
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10-K - 10-K - UNISYS CORP | a2016uis10-k.htm |
EX-32.2 - EXHIBIT 32.2 - UNISYS CORP | ex32210-k2016.htm |
EX-32.1 - EXHIBIT 32.1 - UNISYS CORP | ex32110-k2016.htm |
EX-31.2 - EXHIBIT 31.2 - UNISYS CORP | ex31210-k2016.htm |
EX-31.1 - EXHIBIT 31.1 - UNISYS CORP | ex31110-k16.htm |
EX-24 - EXHIBIT 24 - UNISYS CORP | ex2410-k2016.htm |
EX-23 - EXHIBIT 23 - UNISYS CORP | ex2310-k2016.htm |
EX-21 - EXHIBIT 21 - UNISYS CORP | ex2110-k2016.htm |
EX-10.27 - EXHIBIT 10.27 - UNISYS CORP | ex102710-k2016.htm |
EX-10.21 - EXHIBIT 10.21 - UNISYS CORP | ex102110-k2016.htm |
EX-10.19 - EXHIBIT 10.19 - UNISYS CORP | ex101910-k2016.htm |
Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS (UNAUDITED)
($ in millions)
Years Ended December 31 | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Fixed charges | ||||||||||||||||||||
Interest expense | $ | 27.4 | $ | 11.9 | $ | 9.2 | $ | 9.9 | $ | 27.5 | ||||||||||
Interest capitalized during the period | 3.0 | 3.1 | 4.0 | 3.2 | 5.3 | |||||||||||||||
Amortization of revolving credit facility expenses | 0.4 | 1.5 | 1.6 | 1.6 | 1.7 | |||||||||||||||
Portion of rental expense representative of interest | 25.8 | 26.9 | 27.9 | 28.4 | 28.2 | |||||||||||||||
Total Fixed Charges | 56.6 | 43.4 | 42.7 | 43.1 | 62.7 | |||||||||||||||
Preferred stock dividend requirements (a) | — | — | 2.7 | 16.2 | 16.2 | |||||||||||||||
Total fixed charges and preferred stock dividends | 56.6 | 43.4 | 45.4 | 59.3 | 78.9 | |||||||||||||||
Earnings | ||||||||||||||||||||
Income (loss) before income taxes | 20.5 | (58.8 | ) | 145.5 | 219.4 | 254.1 | ||||||||||||||
Add amortization of capitalized interest | 3.1 | 3.7 | 4.5 | 5.0 | 7.5 | |||||||||||||||
Subtotal | 23.6 | (55.1 | ) | 150.0 | 224.4 | 261.6 | ||||||||||||||
Fixed charges per above | 56.6 | 43.4 | 42.7 | 43.1 | 62.7 | |||||||||||||||
Less interest capitalized during the period | (3.0 | ) | (3.1 | ) | (4.0 | ) | (3.2 | ) | (5.3 | ) | ||||||||||
Total earnings | $ | 77.2 | $ | (14.8 | ) | $ | 188.7 | $ | 264.3 | $ | 319.0 | |||||||||
Ratio of earnings to fixed charges | 1.36 | * | 4.42 | 6.13 | 5.09 | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends (b) | 1.36 | N/A | 4.16 | 4.46 | 4.04 |
(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 year ended December 31, 2015 were inadequate to cover fixed charges by $58.2 million. |