UNISYS CORP - FORM 10-Q - EX-12 - April 29, 2016

Attached files

file filename
EX-10.2 - EX-10.2 - UNISYS CORPd168329dex102.htm
EX-31.2 - EX-31.2 - UNISYS CORPd168329dex312.htm
EX-32.2 - EX-32.2 - UNISYS CORPd168329dex322.htm
EX-10.1 - EX-10.1 - UNISYS CORPd168329dex101.htm
EX-31.1 - EX-31.1 - UNISYS CORPd168329dex311.htm
10-Q - FORM 10-Q - UNISYS CORPd168329d10q.htm
EX-32.1 - EX-32.1 - UNISYS CORPd168329dex321.htm

Exhibit 12

UNISYS CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS (UNAUDITED)

($ in millions)

 

     Three
Months
Ended
Mar. 31,		     Years Ended December 31  
     2016     2015     2014     2013     2012     2011  

Fixed charges

             

Interest expense

    $ 4.4      $ 11.9      $ 9.2      $ 9.9      $ 27.5      $ 63.1   

Interest capitalized during the period

      .5        3.1        4.0        3.2        5.3        4.9   

Amortization of revolving credit facility expenses

      .1        1.5        1.6        1.6        1.7        1.9   

Portion of rental expense representative of interest

      6.3        26.9        27.9        28.4        28.2        32.6   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Fixed Charges

      11.3        43.4        42.7        43.1        62.7        102.5   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Preferred stock dividend requirements (a)

      —          —          2.7        16.2        16.2        13.5   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges and preferred stock dividends

      11.3        43.4        45.4        59.3        78.9        116.0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings

             

Income (loss) before income taxes

      (33.2 )      (58.8 )      145.5        219.4        254.1        206.0   

Add amortization of capitalized interest

      .8        3.7        4.5        5.0        7.5        7.4   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

      (32.4 )      (55.1 )      150.0        224.4        261.6        213.4   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges per above

      11.3        43.4        42.7        43.1        62.7        102.5   

Less interest capitalized during the period

      (.5 )      (3.1 )      (4.0 )      (3.2 )      (5.3 )      (4.9 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

    $ (21.6 )    $ (14.8 )    $ 188.7      $ 264.3      $ 319.0      $ 311.0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      *        *        4.42        6.13        5.09        3.03   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges and preferred stock dividends (b)

      N/A        N/A        4.16        4.46        4.04        2.68   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(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 three months ended March 31, 2016 and for the year ended December 31, 2015 were inadequate to cover fixed charges by $32.9 million and $58.2 million, respectively.

UNISYS CORP Reports