UNISYS CORP - FORM 10-K - EX-12 - EXHIBIT 12 - March 12, 2018

Attached files

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EX-32.2 - EXHIBIT 32.2 - UNISYS CORPex32210-k2017.htm
EX-32.1 - EXHIBIT 32.1 - UNISYS CORPex32110-k2017.htm
EX-31.2 - EXHIBIT 31.2 - UNISYS CORPex31210-k2017.htm
EX-31.1 - EXHIBIT 31.1 - UNISYS CORPex31110-k2017.htm
EX-24 - EXHIBIT 24 - UNISYS CORPex2410-k2017.htm
EX-23 - EXHIBIT 23 - UNISYS CORPex2310-k2017.htm
EX-21 - EXHIBIT 21 - UNISYS CORPex2110-k2017.htm
10-K - 10-K - UNISYS CORPa2017uis10-k.htm


Exhibit 12
UNISYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS (UNAUDITED)
($ in millions)
 
Year Ended December 31,
 
2017

 
2016

 
2015

 
2014

 
2013

Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
52.8

 
$
27.4

 
$
11.9

 
$
9.2

 
$
9.9

Interest capitalized during the period
 
4.2

 
3.0

 
3.1

 
4.0

 
3.2

Amortization of revolving credit facility expenses
 
0.7

 
0.4

 
1.5

 
1.6

 
1.6

Portion of rental expense representative of interest
 
23.9

 
25.8

 
26.9

 
27.9

 
28.4

Total Fixed Charges
 
81.6

 
56.6

 
43.4

 
42.7

 
43.1

Preferred stock dividend requirements (a)
 
—

 
—

 
—

 
2.7

 
16.2

Total fixed charges and preferred stock dividends
 
81.6

 
56.6

 
43.4

 
45.4

 
59.3

Earnings
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
(72.1
)
 
20.5

 
(58.8
)
 
145.5

 
219.4

Add amortization of capitalized interest
 
3.2

 
3.1

 
3.7

 
4.5

 
5.0

Subtotal
 
(68.9
)
 
23.6

 
(55.1
)
 
150.0

 
224.4

Fixed charges per above
 
81.6

 
56.6

 
43.4

 
42.7

 
43.1

Less interest capitalized during the period
 
(4.2
)
 
(3.0
)
 
(3.1
)
 
(4.0
)
 
(3.2
)
Total earnings
 
$
8.5

 
$
77.2

 
$
(14.8
)
 
$
188.7

 
$
264.3

Ratio of earnings to fixed charges
 
*

 
1.36

 
*

 
4.42

 
6.13

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

 
1.36

 
N/A

 
4.16

 
4.46

 
(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 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 years ended December 31, 2017 and 2015 were inadequate to cover fixed charges by $73.1 million and $58.2 million, respectively.



UNISYS CORP Reports