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As Of Filer Filing For·On·As Docs:Size 8/03/22 Unisys Corp. 10-Q 6/30/22 93:8.6M |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 1.69M
2: EX-31.1 Certification -- §302 - SOA'02 HTML 29K
3: EX-31.2 Certification -- §302 - SOA'02 HTML 29K
4: EX-32.1 Certification -- §906 - SOA'02 HTML 26K
5: EX-32.2 Certification -- §906 - SOA'02 HTML 26K
11: R1 Cover HTML 76K
12: R2 Consolidated Statements of Income (Loss) HTML 113K
(Unaudited)
13: R3 Consolidated Statements of Comprehensive Income HTML 61K
(Loss) (Unaudited)
14: R4 Consolidated Statements of Comprehensive Income HTML 28K
(Loss) (Unaudited) (Parenthetical)
15: R5 Consolidated Balance Sheets (Unaudited) HTML 164K
16: R6 Consolidated Balance Sheets (Unaudited) HTML 29K
(Parenthetical)
17: R7 Consolidated Statements of Cash Flows (Unaudited) HTML 122K
18: R8 Consolidated Statements of Deficit (Unaudited) HTML 88K
19: R9 Basis of Presentation HTML 30K
20: R10 Accounting Standards HTML 37K
21: R11 Acquisitions HTML 41K
22: R12 Cost-Reduction Actions HTML 58K
23: R13 Pension and Postretirement Benefits HTML 103K
24: R14 Stock Compensation HTML 48K
25: R15 Other (expense), net HTML 41K
26: R16 Income Taxes HTML 33K
27: R17 Loss Per Share HTML 60K
28: R18 Contract Assets and Deferred Revenue HTML 56K
29: R19 Capitalized Contract Costs HTML 56K
30: R20 Financial Instruments and Fair Value Measurements HTML 48K
31: R21 Goodwill and Intangible Assets HTML 58K
32: R22 Debt HTML 63K
33: R23 Litigation and Contingencies HTML 31K
34: R24 Accumulated Other Comprehensive Loss HTML 60K
35: R25 Supplemental Cash Flow Information HTML 37K
36: R26 Segment Information HTML 131K
37: R27 Remaining Performance Obligations HTML 56K
38: R28 Acquisitions (Tables) HTML 41K
39: R29 Cost-Reduction Actions (Tables) HTML 55K
40: R30 Pension and Postretirement Benefits (Tables) HTML 101K
41: R31 Stock Compensation (Tables) HTML 45K
42: R32 Other (Expense), Net (Tables) HTML 40K
43: R33 Loss Per Share (Tables) HTML 60K
44: R34 Contract Assets and Deferred Revenue (Tables) HTML 39K
45: R35 Capitalized Contract Costs (Tables) HTML 39K
46: R36 Financial Instruments and Fair Value Measurements HTML 50K
(Tables)
47: R37 Goodwill and Intangible Assets (Tables) HTML 65K
48: R38 Debt (Tables) HTML 56K
49: R39 Accumulated Other Comprehensive Loss (Tables) HTML 61K
50: R40 Supplemental Cash Flow Information (Tables) HTML 46K
51: R41 Segment Information (Tables) HTML 132K
52: R42 Acquisitions - Additional Information (Details) HTML 40K
53: R43 Acquisitions - Net Assets Acquired (Details) HTML 49K
54: R44 Acquisitions - Intangible Assets Acquired HTML 34K
(Details)
55: R45 Cost-Reduction Actions - Additional Information HTML 47K
(Details)
56: R46 Cost-Reduction Actions - Statement of Income HTML 38K
Classifications (Details)
57: R47 Cost-Reduction Actions - Liabilities and Expected HTML 46K
Future Payments Related to Work-Force Reduction
Actions (Details)
58: R48 Pension and Postretirement Benefits - Components HTML 70K
of Net Periodic Benefit (Income) Expense (Details)
59: R49 Pension and Postretirement Benefits - Additional HTML 37K
Information (Details)
60: R50 Stock Compensation - Additional Information HTML 48K
(Details)
61: R51 Stock Compensation - Summary of Restricted Stock HTML 51K
Unit Activity (Details)
62: R52 Stock Compensation - Weighted Average Assumptions HTML 37K
(Details)
63: R53 Other (Expense), Net (Details) HTML 41K
64: R54 Loss Per Share - Computation of Earnings (Loss) HTML 72K
Per Common Share Attributable to Unisys
Corporation (Details)
65: R55 Contract Assets and Deferred Revenue (Details) HTML 38K
66: R56 Capitalized Contract Costs (Details) HTML 34K
67: R57 Financial Instruments and Fair Value Measurements HTML 30K
- Additional Information (Details)
68: R58 Financial Instruments and Fair Value Measurements HTML 39K
- Fair Value of Foreign Exchange Forward Contracts
by Balance Sheet Location (Details)
69: R59 Financial Instruments and Fair Value Measurements HTML 30K
- Gains and Losses Recognized on Foreign Exchange
Forward Contracts (Details)
70: R60 Financial Instruments and Fair Value Measurements HTML 37K
- Fair Values of Financial Instruments Not
Measured at Fair Value in Consolidated Balance
Sheets (Details)
71: R61 Goodwill and Intangible Assets - Carrying Value of HTML 45K
Goodwill (Details)
72: R62 Goodwill and Intangible Assets - Additional HTML 34K
Information (Details)
73: R63 Goodwill and Intangible Assets - Intangible HTML 40K
Assets, Net (Details)
74: R64 Goodwill and Intangible Assets - Schedule of HTML 40K
Future Amortization of Intangible Assets (Details)
75: R65 Debt - Schedule of Components of Long-term Debt HTML 51K
(Details)
76: R66 Debt - Additional Information (Details) HTML 104K
77: R67 Debt - Schedule of Interest Expense (Details) HTML 43K
78: R68 Litigation and Contingencies (Details) HTML 26K
79: R69 Accumulated Other Comprehensive Loss - Summary HTML 56K
(Details)
80: R70 Accumulated Other Comprehensive Loss - Amounts HTML 59K
Reclassified Out of Accumulated Other
Comprehensive Loss (Details)
81: R71 Supplemental Cash Flow Information - Schedule of HTML 29K
Supplemental Cash Flow Information (Details)
82: R72 Supplemental Cash Flow Information - HTML 34K
Reconciliation of Cash, Cash Equivalents and
Restricted Cash (Details)
83: R73 Segment Information - Additional Information HTML 33K
(Details)
84: R74 Segment Information - Summary of Operations by HTML 59K
Segment (Details)
85: R75 Segment Information - Reconciliation of Segment HTML 41K
Revenue to Consolidated (Details)
86: R76 Segment Information - Reconciliation of Segment HTML 55K
Gross Profit to Consolidated Income (Loss) From
Continuing Operations Before Income Taxes
(Details)
87: R77 Segment Information - Revenue, Properties and HTML 41K
Outsourcing Assets by Geographic Segment (Details)
88: R78 Remaining Performance Obligations (Details) HTML 37K
91: XML IDEA XML File -- Filing Summary XML 169K
89: XML XBRL Instance -- uis-20220630_htm XML 2.41M
90: EXCEL IDEA Workbook of Financial Reports XLSX 147K
7: EX-101.CAL XBRL Calculations -- uis-20220630_cal XML 218K
8: EX-101.DEF XBRL Definitions -- uis-20220630_def XML 625K
9: EX-101.LAB XBRL Labels -- uis-20220630_lab XML 1.52M
10: EX-101.PRE XBRL Presentations -- uis-20220630_pre XML 961K
6: EX-101.SCH XBRL Schema -- uis-20220630 XSD 163K
92: JSON XBRL Instance as JSON Data -- MetaLinks 431± 647K
93: ZIP XBRL Zipped Folder -- 0000746838-22-000031-xbrl Zip 384K
| uis-20220630 |
| i ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||
| i Delaware | i 38-0387840 | |||||||
| (State
or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| i Common Stock, par value $.01 | i UIS | i New York Stock Exchange | ||||||
| i Large accelerated filer | ☒ | Accelerated filer | ☐ | |||||||||||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | i ☐ | |||||||||||||||||
| Emerging growth company | i ☐ | |||||||||||||||||||
| PART I - FINANCIAL INFORMATION | Page Number | ||||||||||
| Item 1. | Consolidated Financial Statements (Unaudited) | ||||||||||
| Consolidated Statements of Income (Loss) | |||||||||||
| Consolidated Statements of Comprehensive Income (Loss) | |||||||||||
| Consolidated Balance Sheets | |||||||||||
| Consolidated Statements of Cash Flows | |||||||||||
| Consolidated Statements of Deficit | |||||||||||
| Notes to Consolidated Financial Statements | |||||||||||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | ||||||||||
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | ||||||||||
| Item 4. | Controls and Procedures | ||||||||||
| PART II - OTHER INFORMATION | |||||||||||
| Item 1. | Legal Proceedings | ||||||||||
| Item 1A. | Risk Factors | ||||||||||
| Item 6. | Exhibits | ||||||||||
| Exhibit Index | |||||||||||
| Signatures | |||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Revenue | ||||||||||||||||||||||||||
| Services | $ | i 400.3 | $ | i 430.5 | $ | i 792.4 | $ | i 850.9 | ||||||||||||||||||
| Technology | i 114.7 | i 86.8 | i 169.3 | i 176.2 | ||||||||||||||||||||||
| i 515.0 | i 517.3 | i 961.7 | i 1,027.1 | |||||||||||||||||||||||
| Costs and expenses | ||||||||||||||||||||||||||
| Cost of revenue | ||||||||||||||||||||||||||
| Services | i 322.1 | i 337.9 | i 643.4 | i 676.6 | ||||||||||||||||||||||
| Technology | i 44.8 | i 37.2 | i 82.8 | i 69.1 | ||||||||||||||||||||||
| i 366.9 | i 375.1 | i 726.2 | i 745.7 | |||||||||||||||||||||||
| Selling, general and administrative | i 109.6 | i 94.6 | i 214.0 | i 184.6 | ||||||||||||||||||||||
| Research and development | i 4.8 | i 6.8 | i 11.3 | i 12.4 | ||||||||||||||||||||||
| i 481.3 | i 476.5 | i 951.5 | i 942.7 | |||||||||||||||||||||||
| Operating income | i 33.7 | i 40.8 | i 10.2 | i 84.4 | ||||||||||||||||||||||
| Interest expense | i 8.3 | i 8.4 | i 16.7 | i 18.5 | ||||||||||||||||||||||
| Other (expense), net | ( i 21.9) | ( i 227.8) | ( i 42.9) | ( i 410.4) | ||||||||||||||||||||||
| Earnings (loss) before income taxes | i 3.5 | ( i 195.4) | ( i 49.4) | ( i 344.5) | ||||||||||||||||||||||
| Provision for (benefit from) income taxes | i 20.3 | ( i 53.1) | i 24.4 | ( i 44.7) | ||||||||||||||||||||||
| Consolidated net loss | ( i 16.8) | ( i 142.3) | ( i 73.8) | ( i 299.8) | ||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests | i 0.3 | ( i 1.5) | i 0.6 | ( i 1.2) | ||||||||||||||||||||||
| Net loss attributable to Unisys Corporation | $ | ( i 17.1) | $ | ( i 140.8) | $ | ( i 74.4) | $ | ( i 298.6) | ||||||||||||||||||
| Loss per share attributable to Unisys Corporation | ||||||||||||||||||||||||||
| Basic | $ | ( i 0.25) | $ | ( i 2.10) | $ | ( i 1.10) | $ | ( i 4.54) | ||||||||||||||||||
| Diluted | $ | ( i 0.25) | $ | ( i 2.10) | $ | ( i 1.10) | $ | ( i 4.54) | ||||||||||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Consolidated net loss | ( i 16.8) | ( i 142.3) | $ | ( i 73.8) | $ | ( i 299.8) | ||||||||||||||||||||
| Other comprehensive income (loss) | ||||||||||||||||||||||||||
| Foreign currency translation | ( i 95.6) | i 16.8 | ( i 113.3) | ( i 0.3) | ||||||||||||||||||||||
Postretirement
adjustments, net of tax of $ i 14.1 and $ i 20.8
in 2022 and $ i 34.7 and $ i 37.8
in 2021 | i 88.4 | i 143.0 | i 145.7 | i 345.2 | ||||||||||||||||||||||
| Total other comprehensive (loss) income | ( i 7.2) | i 159.8 | i 32.4 | i 344.9 | ||||||||||||||||||||||
| Comprehensive (loss) income | ( i 24.0) | i 17.5 | ( i 41.4) | i 45.1 | ||||||||||||||||||||||
| Less comprehensive income (loss) attributable to noncontrolling interests | i 0.3 | ( i 0.8) | ( i 0.6) | i 0.3 | ||||||||||||||||||||||
| Comprehensive (loss) income attributable to Unisys Corporation | $ | ( i 24.3) | $ | i 18.3 | $ | ( i 40.8) | $ | i 44.8 | ||||||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | i 380.1 | $ | i 552.9 | |||||||
| Accounts receivable, net | i 427.3 | i 451.7 | |||||||||
| Contract assets | i 39.9 | i 42.0 | |||||||||
| Inventories | i 12.7 | i 7.6 | |||||||||
| Prepaid expenses and other current assets | i 94.1 | i 78.8 | |||||||||
| Total current assets | i 954.1 | i 1,133.0 | |||||||||
| Properties | i 462.6 | i 468.0 | |||||||||
| Less-accumulated depreciation and amortization | i 381.9 | i 381.5 | |||||||||
| Properties, net | i 80.7 | i 86.5 | |||||||||
| Outsourcing assets, net | i 92.8 | i 124.6 | |||||||||
| Marketable software, net | i 170.1 | i 176.2 | |||||||||
| Operating lease right-of-use assets | i 56.7 | i 62.7 | |||||||||
| Prepaid postretirement assets | i 160.5 | i 159.7 | |||||||||
| Deferred income taxes | i 109.9 | i 125.3 | |||||||||
| Goodwill | i 286.8 | i 315.0 | |||||||||
| Intangible assets, net | i 57.2 | i 34.9 | |||||||||
| Restricted cash | i 9.2 | i 7.7 | |||||||||
| Assets held-for-sale | i 20.0 | i 20.0 | |||||||||
| Other long-term assets | i 156.4 | i 173.9 | |||||||||
| Total assets | $ | i 2,154.4 | $ | i 2,419.5 | |||||||
| Liabilities and deficit | |||||||||||
| Current liabilities: | |||||||||||
| Current maturities of long-term-debt | $ | i 17.8 | $ | i 18.2 | |||||||
| Accounts payable | i 149.2 | i 180.2 | |||||||||
| Deferred revenue | i 227.5 | i 253.2 | |||||||||
| Other accrued liabilities | i 251.3 | i 300.9 | |||||||||
| Total current liabilities | i 645.8 | i 752.5 | |||||||||
| Long-term debt | i 501.8 | i 511.2 | |||||||||
| Long-term postretirement liabilities | i 884.5 | i 976.2 | |||||||||
| Long-term deferred revenue | i 137.4 | i 150.7 | |||||||||
| Long-term operating lease liabilities | i 40.4 | i 46.1 | |||||||||
| Other long-term liabilities | i 43.0 | i 47.2 | |||||||||
Commitments
and contingencies (see Note 15) | i | i | |||||||||
| Deficit: | |||||||||||
Common
stock, shares issued: 2022; i 73.3, 2021; i 72.5 | i 0.7 | i 0.7 | |||||||||
| Accumulated deficit | ( i 1,483.4) | ( i 1,409.0) | |||||||||
Treasury
stock, shares at cost: 2022; i 5.5, 2021; i 5.3 | ( i 155.9) | ( i 152.2) | |||||||||
| Paid-in capital | i 4,721.9 | i 4,710.9 | |||||||||
| Accumulated other comprehensive loss | ( i 3,230.5) | ( i 3,264.1) | |||||||||
| Total Unisys Corporation stockholders’ deficit | ( i 147.2) | ( i 113.7) | |||||||||
| Noncontrolling interests | i 48.7 | i 49.3 | |||||||||
| Total deficit | ( i 98.5) | ( i 64.4) | |||||||||
| Total liabilities and deficit | $ | i 2,154.4 | $ | i 2,419.5 | |||||||
| Six
Months Ended June 30, | ||||||||||||||
| 2022 | 2021 | |||||||||||||
| Cash flows from operating activities | ||||||||||||||
| Consolidated net loss | $ | ( i 73.8) | $ | ( i 299.8) | ||||||||||
| Adjustments to reconcile consolidated net loss to net cash used for operating activities: | ||||||||||||||
| Foreign currency losses | i 0.4 | i 1.2 | ||||||||||||
| Non-cash interest expense | i 0.7 | i 1.2 | ||||||||||||
| Employee stock compensation | i 10.3 | i 7.0 | ||||||||||||
| Depreciation and amortization of properties | i 19.2 | i 15.2 | ||||||||||||
| Depreciation and amortization of outsourcing assets | i 36.0 | i 33.2 | ||||||||||||
| Amortization of marketable software | i 29.6 | i 34.4 | ||||||||||||
| Amortization of intangible assets | i 5.3 | i 0.5 | ||||||||||||
| Other non-cash operating activities | i 0.2 | ( i 0.2) | ||||||||||||
| Loss on disposal of capital assets | i 0.6 | i 1.2 | ||||||||||||
| Postretirement contributions | ( i 25.1) | ( i 32.1) | ||||||||||||
| Postretirement expense | i 22.7 | i 394.7 | ||||||||||||
| Deferred income taxes, net | i 3.1 | ( i 65.2) | ||||||||||||
| Changes in operating assets and liabilities, excluding the effect of acquisitions: | ||||||||||||||
| Receivables, net and contract assets | i 22.7 | i 96.1 | ||||||||||||
| Inventories | ( i 5.4) | i 7.4 | ||||||||||||
| Other assets | ( i 9.3) | ( i 5.5) | ||||||||||||
| Accounts payable and current liabilities | ( i 108.2) | ( i 207.2) | ||||||||||||
| Other liabilities | i 4.3 | i 16.9 | ||||||||||||
| Net cash used for operating activities | ( i 66.7) | ( i 1.0) | ||||||||||||
| Cash flows from investing activities | ||||||||||||||
| Purchase of businesses, net of cash acquired | ( i 0.3) | ( i 150.1) | ||||||||||||
| Proceeds from investments | i 1,668.0 | i 2,261.6 | ||||||||||||
| Purchases of investments | ( i 1,697.6) | ( i 2,262.4) | ||||||||||||
| Investment in marketable software | ( i 23.6) | ( i 29.7) | ||||||||||||
| Capital additions of properties | ( i 14.0) | ( i 12.0) | ||||||||||||
| Capital additions of outsourcing assets | ( i 6.5) | ( i 8.7) | ||||||||||||
| Other | ( i 0.4) | ( i 0.4) | ||||||||||||
| Net cash used for investing activities | ( i 74.4) | ( i 201.7) | ||||||||||||
| Cash flows from financing activities | ||||||||||||||
| Payments of long-term debt | ( i 11.2) | ( i 95.4) | ||||||||||||
| Proceeds from issuance of long-term debt | i — | i 1.5 | ||||||||||||
| Proceeds from exercise of stock options | i — | i 3.7 | ||||||||||||
| Other | ( i 3.8) | ( i 7.7) | ||||||||||||
| Net cash used for financing activities | ( i 15.0) | ( i 97.9) | ||||||||||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ( i 15.2) | i 0.1 | ||||||||||||
| Decrease in cash, cash equivalents and restricted cash | ( i 171.3) | ( i 300.5) | ||||||||||||
| Cash, cash equivalents and restricted cash, beginning of period | i 560.6 | i 906.7 | ||||||||||||
| Cash, cash equivalents and restricted cash, end of period | $ | i 389.3 | $ | i 606.2 | ||||||||||
| Unisys Corporation | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | Total Unisys Corporation | Common Stock Par Value | Accumu-lated Deficit | Treasury Stock At Cost | Paid-in Capital | Accumu-lated Other Compre-hensive Loss | Non-controlling Interests | |||||||||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2021 | $ | ( i 64.4) | $ | ( i 113.7) | $ | i 0.7 | $ | ( i 1,409.0) | $ | ( i 152.2) | $ | i 4,710.9 | $ | ( i 3,264.1) | $ | i 49.3 | ||||||||||||||||||||||||||||||||||
| Consolidated net (loss) income | ( i 57.0) | ( i 57.3) | ( i 57.3) | i 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based activity | i 2.2 | i 2.2 | ( i 3.5) | i 5.7 | ||||||||||||||||||||||||||||||||||||||||||||||
| Translation adjustments | ( i 17.7) | ( i 14.9) | ( i 14.9) | ( i 2.8) | ||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement plans | i 57.3 | i 55.7 | i 55.7 | i 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||
| Balance at March 31, 2022 | $ | ( i 79.6) | $ | ( i 128.0) | $ | i 0.7 | $ | ( i 1,466.3) | $ | ( i 155.7) | $ | i 4,716.6 | $ | ( i 3,223.3) | $ | i 48.4 | ||||||||||||||||||||||||||||||||||
| Consolidated net income (loss) | ( i 16.8) | ( i 17.1) | ( i 17.1) | i 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based activity | i 5.1 | i 5.1 | ( i 0.2) | i 5.3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Translation adjustments | ( i 95.6) | ( i 92.3) | ( i 92.3) | ( i 3.3) | ||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement plans | i 88.4 | i 85.1 | i 85.1 | i 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2022 | $ | ( i 98.5) | $ | ( i 147.2) | $ | i 0.7 | $ | ( i 1,483.4) | $ | ( i 155.9) | $ | i 4,721.9 | $ | ( i 3,230.5) | $ | i 48.7 | ||||||||||||||||||||||||||||||||||
| Unisys Corporation | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | Total Unisys Corporation | Common Stock Par Value | Accumu-lated Deficit | Treasury Stock At Cost | Paid-in Capital | Accumu-lated Other Compre-hensive Loss | Non-controlling Interests | |||||||||||||||||||||||||||||||||||||||||||
| Balance at December 31, 2020 | $ | ( i 312.1) | $ | ( i 356.8) | $ | i 0.7 | $ | ( i 960.5) | $ | ( i 114.4) | $ | i 4,656.9 | $ | ( i 3,939.5) | $ | i 44.7 | ||||||||||||||||||||||||||||||||||
| Consolidated net (loss) income | ( i 157.5) | ( i 157.8) | ( i 157.8) | i 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Capped call on conversion of notes | i — | i — | ( i 30.8) | i 30.8 | ||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based activity | ( i 1.3) | ( i 1.3) | ( i 6.7) | i 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||
| Translation adjustments | ( i 17.1) | ( i 17.9) | ( i 17.9) | i 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement plans | i 202.2 | i 202.2 | i 202.2 | — | ||||||||||||||||||||||||||||||||||||||||||||||
| Balance at March 31, 2021 | $ | ( i 285.8) | $ | ( i 331.6) | $ | i 0.7 | $ | ( i 1,118.3) | $ | ( i 151.9) | $ | i 4,693.1 | $ | ( i 3,755.2) | $ | i 45.8 | ||||||||||||||||||||||||||||||||||
| Consolidated net loss | ( i 142.3) | ( i 140.8) | ( i 140.8) | ( i 1.5) | ||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based activity | i 4.5 | i 4.5 | ( i 0.2) | i 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||
| Translation adjustments | i 16.8 | i 16.4 | i 16.4 | i 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||
| Postretirement plans | i 143.0 | i 142.7 | i 142.7 | i 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
| Balance at June 30, 2021 | $ | ( i 263.8) | $ | ( i 308.8) | $ | i 0.7 | $ | ( i 1,259.1) | $ | ( i 152.1) | $ | i 4,697.8 | $ | ( i 3,596.1) | $ | i 45.0 | ||||||||||||||||||||||||||||||||||
| Receivables | $ | i 7.8 | ||||||
| Prepaid expenses and other current assets | i 0.7 | |||||||
| Properties and other long-term assets | i 0.2 | |||||||
| Operating lease right-of-use assets | i 0.2 | |||||||
| Accounts payable and accruals | ( i 7.4) | |||||||
| Long-term operating lease liabilities | ( i 0.1) | |||||||
| Intangible assets | i 45.9 | |||||||
| Goodwill | i 38.0 | |||||||
| Total | $ | i 85.3 | ||||||
| Weighted Average Amortization Period in Years | Fair Value | |||||||||||||
| Customer relationships | i 12.0 | $ | i 44.6 | |||||||||||
| Trademark | i 4.0 | i 1.3 | ||||||||||||
| Total | $ | i 45.9 | ||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Cost of revenue | $ | i 0.8 | $ | i 2.8 | $ | i 3.5 | $ | i 1.1 | ||||||||||||||||||
| Selling, general and administrative | i 0.5 | i 2.6 | ( i 0.2) | i 8.8 | ||||||||||||||||||||||
| Research and development | i — | i 0.4 | ( i 0.1) | i 2.1 | ||||||||||||||||||||||
| Other (expense), net | i 1.8 | ( i 0.7) | i 2.9 | i 1.6 | ||||||||||||||||||||||
| Total | $ | i 3.1 | $ | i 5.1 | $ | i 6.1 | $ | i 13.6 | ||||||||||||||||||
| Total | U.S. | International | ||||||||||||||||||
| Balance at December 31, 2021 | $ | i 16.3 | $ | i 5.7 | $ | i 10.6 | ||||||||||||||
| Payments | ( i 6.4) | ( i 2.8) | ( i 3.6) | |||||||||||||||||
| Changes in estimates | ( i 0.9) | ( i 0.9) | i — | |||||||||||||||||
| Translation adjustments | ( i 0.7) | i — | ( i 0.7) | |||||||||||||||||
| Balance at June 30, 2022 | $ | i 8.3 | $ | i 2.0 | $ | i 6.3 | ||||||||||||||
Expected
future utilization on balance at June 30, 2022: | ||||||||||||||||||||
| Short-term | $ | i 8.3 | $ | i 2.0 | $ | i 6.3 | ||||||||||||||
| Three
Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||
| Total | U.S. Plans | International Plans | Total | U.S. Plans | International Plans | |||||||||||||||||||||||||||||||||
Service cost(i) | $ | i 0.5 | $ | i — | $ | i 0.5 | $ | i 0.5 | $ | i — | $ | i 0.5 | ||||||||||||||||||||||||||
| Interest cost | i 39.1 | i 29.0 | i 10.1 | i 38.4 | i 29.4 | i 9.0 | ||||||||||||||||||||||||||||||||
| Expected return on plan assets | ( i 67.3) | ( i 47.4) | ( i 19.9) | ( i 68.4) | ( i 48.5) | ( i 19.9) | ||||||||||||||||||||||||||||||||
| Amortization of prior service benefit | ( i 1.3) | ( i 0.7) | ( i 0.6) | ( i 1.4) | ( i 0.6) | ( i 0.8) | ||||||||||||||||||||||||||||||||
| Recognized net actuarial loss | i 41.9 | i 32.3 | i 9.6 | i 46.6 | i 34.6 | i 12.0 | ||||||||||||||||||||||||||||||||
Settlement
losses (ii) | i — | i — | i — | i 210.7 | i — | i 210.7 | ||||||||||||||||||||||||||||||||
| Net periodic pension expense (income) | $ | i 12.9 | $ | i 13.2 | $ | ( i 0.3) | $ | i 226.4 | $ | i 14.9 | $ | i 211.5 | ||||||||||||||||||||||||||
| Six
Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||
| Total | U.S. Plans | International Plans | Total | U.S. Plans | International Plans | |||||||||||||||||||||||||||||||||
Service cost(i) | $ | i 1.0 | $ | i — | $ | i 1.0 | $ | i 1.7 | $ | i — | $ | i 1.7 | ||||||||||||||||||||||||||
| Interest cost | i 78.0 | i 57.3 | i 20.7 | i 78.0 | i 58.8 | i 19.2 | ||||||||||||||||||||||||||||||||
| Expected return on plan assets | ( i 135.7) | ( i 94.9) | ( i 40.8) | ( i 142.5) | ( i 99.9) | ( i 42.6) | ||||||||||||||||||||||||||||||||
| Amortization of prior service benefit | ( i 2.6) | ( i 1.3) | ( i 1.3) | ( i 2.7) | ( i 1.2) | ( i 1.5) | ||||||||||||||||||||||||||||||||
| Recognized net actuarial loss | i 82.8 | i 63.0 | i 19.8 | i 92.8 | i 67.8 | i 25.0 | ||||||||||||||||||||||||||||||||
Settlement
losses (ii) (iii) | i — | i — | i — | i 368.7 | i 158.0 | i 210.7 | ||||||||||||||||||||||||||||||||
| Net periodic pension expense (income) | $ | i 23.5 | $ | i 24.1 | $ | ( i 0.6) | $ | i 396.0 | $ | i 183.5 | $ | i 212.5 | ||||||||||||||||||||||||||
(i)Service
cost is reported in selling, general and administrative expense. All other components of net periodic pension expense are reported in other (expense), net in the consolidated statements of income (loss). | ||
(ii)In the second quarter of 2021, the company’s primary pension plan related to its Dutch subsidiary was transferred to a multi-client circle within a multi-employer fund. This action resulted in a pre-tax settlement loss of $ i i 182.6 / million
for both the three and six months ended June 30, 2021. Additionally, the company’s Swiss subsidiary transferred its defined benefit pension plans to a multiple-employer collective foundation. This action resulted in a pre-tax settlement loss of $ i i 28.1 / million
for both the three and six months ended June 30, 2021. | ||
(iii)In January 2021, the company purchased a group annuity contract to transferred projected benefit obligations related to its U.S. defined benefit pension plans. This action resulted in a pre-tax settlement loss of $ i 158.0 million. | ||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Service
cost(i) | $ | i 0.1 | $ | i 0.1 | $ | i 0.1 | $ | i 0.2 | ||||||||||||||||||
| Interest cost | i 0.5 | i 0.4 | i 1.0 | i 0.8 | ||||||||||||||||||||||
| Expected return on assets | ( i 0.1) | ( i 0.1) | ( i 0.2) | ( i 0.2) | ||||||||||||||||||||||
| Recognized net actuarial gain | ( i 0.5) | ( i 0.7) | ( i 1.0) | ( i 1.3) | ||||||||||||||||||||||
| Amortization of prior service cost | ( i 0.4) | ( i 0.4) | ( i 0.7) | ( i 0.8) | ||||||||||||||||||||||
| Net periodic postretirement benefit income | $ | ( i 0.4) | $ | ( i 0.7) | $ | ( i 0.8) | $ | ( i 1.3) | ||||||||||||||||||
(i)Service
cost is reported in selling, general and administrative expense. All other components of net periodic postretirement benefit expense are reported in other (expense), net in the consolidated statements of income (loss). | ||
| Restricted Stock and RSU | Weighted- Average Grant-Date Fair Value | |||||||||||||
| Outstanding at December 31, 2021 | i 2,124 | $ | i 22.73 | |||||||||||
| Granted | i 1,159 | i 24.75 | ||||||||||||
| Vested | ( i 785) | i 22.22 | ||||||||||||
| Forfeited and expired | ( i 126) | i 24.75 | ||||||||||||
| Outstanding at June 30, 2022 | i 2,372 | i 23.78 | ||||||||||||
| Six
Months Ended June 30, | |||||||||||
| 2022 | 2021 | ||||||||||
| Weighted-average fair value of grant | $ | i 34.14 | $ | i 40.02 | |||||||
Risk-free
interest rate(i) | i 1.72 | % | i 0.27 | % | |||||||
Expected
volatility(ii) | i 57.71 | % | i 57.08 | % | |||||||
Expected
life of restricted stock units in years(iii) | i 2.85 | i 2.84 | |||||||||
| Expected dividend yield | i — | % | i — | % | |||||||
(i)Represents
the continuously compounded semi-annual zero-coupon U.S. treasury rate commensurate with the remaining performance period. | ||
(ii)Based on historical volatility for the company that is commensurate with the length of the performance period. | ||
(iii)Represents the remaining life of the longest performance period. | ||
| Three
Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Postretirement expense* | $ | ( i 11.9) | $ | ( i 225.1) | $ | ( i 21.6) | $ | ( i 392.8) | ||||||||||||||||||
| Foreign exchange (losses) gains** | ( i 2.6) | i 2.0 | ( i 0.4) | ( i 0.9) | ||||||||||||||||||||||
| Environmental costs and other, net | ( i 7.4) | ( i 4.7) | ( i 20.9) | ( i 16.7) | ||||||||||||||||||||||
| Total other (expense), net | $ | ( i 21.9) | $ | ( i 227.8) | $ | ( i 42.9) | $ | ( i 410.4) | ||||||||||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Basic loss per common share computation: | ||||||||||||||||||||||||||
| Net loss attributable to Unisys Corporation | $ | ( i 17.1) | $ | ( i 140.8) | $ | ( i 74.4) | $ | ( i 298.6) | ||||||||||||||||||
| Weighted average shares | i 67,694 | i 67,080 | i 67,541 | i 65,752 | ||||||||||||||||||||||
| Basic loss per common share | $ | ( i 0.25) | $ | ( i 2.10) | $ | ( i 1.10) | $ | ( i 4.54) | ||||||||||||||||||
| Diluted loss per common share computation: | ||||||||||||||||||||||||||
| Net loss attributable to Unisys Corporation | $ | ( i 17.1) | $ | ( i 140.8) | $ | ( i 74.4) | $ | ( i 298.6) | ||||||||||||||||||
| Weighted average shares | i 67,694 | i 67,080 | i 67,541 | i 65,752 | ||||||||||||||||||||||
| Plus incremental shares from assumed conversions of employee stock plans | i — | i — | i — | i — | ||||||||||||||||||||||
| Adjusted weighted average shares | i 67,694 | i 67,080 | i 67,541 | i 65,752 | ||||||||||||||||||||||
| Diluted loss per common share | $ | ( i 0.25) | $ | ( i 2.10) | $ | ( i 1.10) | $ | ( i 4.54) | ||||||||||||||||||
Anti-dilutive
weighted-average stock options and restricted stock units(i) | i 418 | i 740 | i 628 | i 903 | ||||||||||||||||||||||
(i)Amounts
represent shares excluded from the computation of diluted loss per share, as their effect, if included, would have been anti-dilutive for the periods presented. | ||
| June 30, 2022 | December 31, 2021 | ||||||||||
| Contract assets - current | $ | i 39.9 | $ | i 42.0 | |||||||
Contract
assets - long-term(i) | i 15.0 | i 17.4 | |||||||||
| Deferred revenue - current | ( i 227.5) | ( i 253.2) | |||||||||
| Deferred revenue - long-term | ( i 137.4) | ( i 150.7) | |||||||||
(i)Reported
in other long-term assets on the company’s consolidated balance sheets. | |||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Revenue recognized that was included in deferred revenue at the beginning of the period | $ | i 61.9 | $ | i 63.8 | $ | i 144.8 | $ | i 162.9 | |||||||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Deferred commissions - amortization expense(i) | $ | i 0.8 | $ | i 0.8 | $ | i 1.9 | $ | i 1.6 | |||||||||||||||
(i)Reported
in selling, general and administrative expense in the company’s consolidated statements of income (loss). | ||||||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Costs to fulfill a contract - amortization expense | $ | i 7.5 | $ | i 6.8 | $ | i 16.4 | $ | i 12.7 | |||||||||||||||
| June 30, 2022 | December 31, 2021 | |||||||||||||
| Balance Sheet Location | ||||||||||||||
| Prepaid expenses and other current assets | $ | i 0.4 | $ | i 3.6 | ||||||||||
| Other accrued liabilities | i 9.5 | i 2.1 | ||||||||||||
| Total fair value | $ | ( i 9.1) | $ | i 1.5 | ||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Statement of Income Location | |||||||||||||||||||||||
| Other (expense), net | $ | ( i 29.3) | $ | i 4.5 | $ | ( i 40.2) | $ | ( i 4.3) | |||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
| Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||||
| Long-term debt: | |||||||||||||||||||||||
i 6.875%
senior secured notes due November 1, 2027 | $ | i 478.7 | $ | i 427.9 | $ | i 478.1 | $ | i 527.0 | |||||||||||||||
| Total | DWS | CA&I | ECS | Other | ||||||||||||||||||||||||||||
| Balance at December 31, 2021 | $ | i 315.0 | $ | i 140.9 | $ | i 65.5 | $ | i 98.3 | $ | i 10.3 | ||||||||||||||||||||||
| Acquisition - Measurement period adjustment (see Note 3) | ( i 27.5) | i — | ( i 27.5) | i — | i — | |||||||||||||||||||||||||||
| Translation adjustments | ( i 0.7) | ( i 0.7) | i — | i — | i — | |||||||||||||||||||||||||||
| Balance at June 30, 2022 | $ | i 286.8 | $ | i 140.2 | $ | i 38.0 | $ | i 98.3 | $ | i 10.3 | ||||||||||||||||||||||
| Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | ||||||||||||||||||
Technology (i) | $ | i 10.0 | $ | i 3.4 | $ | i 6.6 | ||||||||||||||
Customer
relationships (ii) | i 54.2 | i 4.7 | i 49.5 | |||||||||||||||||
Marketing
(ii) | i 1.3 | i 0.2 | i 1.1 | |||||||||||||||||
| Total | $ | i 65.5 | $ | i 8.3 | $ | i 57.2 | ||||||||||||||
| Future Amortization Expense | ||||||||
| Remainder of 2022 | $ | i 4.8 | ||||||
| 2023 | i 9.7 | |||||||
| 2024 | i 7.2 | |||||||
| 2025 | i 4.3 | |||||||
| 2026 | i 4.0 | |||||||
| Thereafter | i 27.2 | |||||||
| Total | $ | i 57.2 | ||||||
| June 30, 2022 | December 31, 2021 | |||||||||||||
i 6.875% senior secured notes due November 1, 2027 (Face value of $ i i 485.0 /
million less unamortized issuance costs of $ i 6.3 and $ i 6.9 million at June 30,
2022 and at December 31, 2021) | $ | i 478.7 | $ | i 478.1 | ||||||||||
| Finance leases | i 1.6 | i 2.7 | ||||||||||||
| Other debt | i 39.3 | i 48.6 | ||||||||||||
| Total | i 519.6 | i 529.4 | ||||||||||||
| Less – current maturities | i 17.8 | i 18.2 | ||||||||||||
| Total long-term debt | $ | i 501.8 | $ | i 511.2 | ||||||||||
See
Note 12 for the fair value of the notes. | ||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Contractual interest coupon | $ | i 8.4 | $ | i 8.4 | $ | i 16.7 | $ | i 16.7 | ||||||||||||||||||
| Amortization of issuance costs | i 0.3 | i 0.3 | i 0.6 | i 0.6 | ||||||||||||||||||||||
| Total | $ | i 8.7 | $ | i 8.7 | $ | i 17.3 | $ | i 17.3 | ||||||||||||||||||
| Six Months Ended June 30, | ||||||||
| 2021 | ||||||||
| Contractual interest coupon | $ | i 0.8 | ||||||
| Amortization of debt discount | i 0.5 | |||||||
| Amortization of debt issuance costs | i 0.1 | |||||||
| Total | $ | i 1.4 | ||||||
| Total | Translation Adjustments | Postretirement Plans | ||||||||||||||||||
| Balance at December 31, 2021 | $ | ( i 3,264.1) | $ | ( i 866.2) | $ | ( i 2,397.9) | ||||||||||||||
| Other comprehensive (loss) income before reclassifications | ( i 43.7) | ( i 110.1) | i 66.4 | |||||||||||||||||
| Amounts reclassified from accumulated other comprehensive loss | i 77.3 | i 2.9 | i 74.4 | |||||||||||||||||
| Current period other comprehensive income (loss) | i 33.6 | ( i 107.2) | i 140.8 | |||||||||||||||||
| Balance at June 30, 2022 | $ | ( i 3,230.5) | $ | ( i 973.4) | $ | ( i 2,257.1) | ||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Translation adjustments: | ||||||||||||||||||||||||||
Adjustment for substantial completion of liquidation of foreign subsidiaries(i) | $ | i 1.8 | $ | i 0.7 | $ | i 2.9 | $ | ( i 1.6) | ||||||||||||||||||
Postretirement
plans(ii): | ||||||||||||||||||||||||||
| Amortization of prior service cost | ( i 1.2) | ( i 1.6) | ( i 2.9) | ( i 3.1) | ||||||||||||||||||||||
| Amortization of actuarial losses | i 40.1 | i 45.2 | i 80.5 | i 90.0 | ||||||||||||||||||||||
| Settlement losses | i — | i 142.7 | i — | i 300.7 | ||||||||||||||||||||||
| Total before tax | i 40.7 | i 187.0 | i 80.5 | i 386.0 | ||||||||||||||||||||||
| Income tax | ( i 1.5) | ( i 36.9) | ( i 3.2) | ( i 38.6) | ||||||||||||||||||||||
| Total reclassifications for the period | $ | i 39.2 | $ | i 150.1 | $ | i 77.3 | $ | i 347.4 | ||||||||||||||||||
(i)
Reported in other (expense), net in the consolidated statements of income (loss). | ||
(ii)These items are included in net periodic postretirement cost (see Note 5). | ||
| Six Months Ended June 30, | |||||||||||
| 2022 | 2021 | ||||||||||
| Cash paid during the period for: | |||||||||||
| Income taxes, net of refunds | $ | i 29.3 | $ | i 32.5 | |||||||
| Interest | $ | i 18.7 | $ | i 21.8 | |||||||
| June 30, 2022 | December 31, 2021 | ||||||||||
| Cash and cash equivalents | $ | i 380.1 | $ | i 552.9 | |||||||
| Restricted cash | i 9.2 | i 7.7 | |||||||||
| Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | $ | i 389.3 | $ | i 560.6 | |||||||
| Total Segments | DWS | CA&I | ECS | |||||||||||||||||||||||
| Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||
| Customer revenue | $ | i 443.1 | $ | i 127.2 | $ | i 130.1 | $ | i 185.8 | ||||||||||||||||||
| Intersegment | i — | i — | i — | i — | ||||||||||||||||||||||
| Total revenue | $ | i 443.1 | $ | i 127.2 | $ | i 130.1 | $ | i 185.8 | ||||||||||||||||||
| Gross profit | $ | i 146.6 | $ | i 16.5 | $ | i 7.1 | $ | i 123.0 | ||||||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||
| Customer revenue | $ | i 441.6 | $ | i 148.4 | $ | i 121.7 | $ | i 171.5 | ||||||||||||||||||
| Intersegment | i 0.4 | i — | i — | i 0.4 | ||||||||||||||||||||||
| Total revenue | $ | i 442.0 | $ | i 148.4 | $ | i 121.7 | $ | i 171.9 | ||||||||||||||||||
| Gross profit | $ | i 142.3 | $ | i 22.9 | $ | i 13.5 | $ | i 105.9 | ||||||||||||||||||
| Total Segments | DWS | CA&I | ECS | |||||||||||||||||||||||
| Six Months Ended June 30, 2022 | ||||||||||||||||||||||||||
| Customer revenue | $ | i 817.6 | $ | i 252.0 | $ | i 259.2 | $ | i 306.4 | ||||||||||||||||||
| Intersegment | i — | i — | i — | i — | ||||||||||||||||||||||
| Total revenue | $ | i 817.6 | $ | i 252.0 | $ | i 259.2 | $ | i 306.4 | ||||||||||||||||||
| Gross profit | $ | i 232.4 | $ | i 32.5 | $ | i 14.1 | $ | i 185.8 | ||||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||
| Customer revenue | $ | i 874.5 | $ | i 291.3 | $ | i 242.4 | $ | i 340.8 | ||||||||||||||||||
| Intersegment | i 1.4 | i — | i — | i 1.4 | ||||||||||||||||||||||
| Total revenue | $ | i 875.9 | $ | i 291.3 | $ | i 242.4 | $ | i 342.2 | ||||||||||||||||||
| Gross profit | $ | i 276.1 | $ | i 42.0 | $ | i 23.4 | $ | i 210.7 | ||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Total segment revenue | $ | i 443.1 | $ | i 442.0 | $ | i 817.6 | $ | i 875.9 | ||||||||||||||||||
| Other revenue | i 71.9 | i 75.7 | i 144.1 | i 152.6 | ||||||||||||||||||||||
| Elimination of intercompany revenue | i — | ( i 0.4) | i — | ( i 1.4) | ||||||||||||||||||||||
| Total consolidated revenue | $ | i 515.0 | $ | i 517.3 | $ | i 961.7 | $ | i 1,027.1 | ||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| Total segment gross profit | $ | i 146.6 | $ | i 142.3 | $ | i 232.4 | $ | i 276.1 | ||||||||||||||||||
| Other gross profit | i 1.5 | ( i 0.1) | i 3.1 | i 5.3 | ||||||||||||||||||||||
| Total gross profit | i 148.1 | i 142.2 | i 235.5 | i 281.4 | ||||||||||||||||||||||
| Selling, general and administrative expense | ( i 109.6) | ( i 94.6) | ( i 214.0) | ( i 184.6) | ||||||||||||||||||||||
| Research and development expense | ( i 4.8) | ( i 6.8) | ( i 11.3) | ( i 12.4) | ||||||||||||||||||||||
| Interest expense | ( i 8.3) | ( i 8.4) | ( i 16.7) | ( i 18.5) | ||||||||||||||||||||||
| Other (expense), net | ( i 21.9) | ( i 227.8) | ( i 42.9) | ( i 410.4) | ||||||||||||||||||||||
| Total earnings (loss) before income taxes | $ | i 3.5 | $ | ( i 195.4) | $ | ( i 49.4) | $ | ( i 344.5) | ||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
| United States | $ | i 235.6 | $ | i 201.6 | $ | i 434.6 | $ | i 436.1 | ||||||||||||||||||
| United Kingdom | i 69.8 | i 104.1 | i 122.7 | i 172.1 | ||||||||||||||||||||||
| Other foreign | i 209.6 | i 211.6 | i 404.4 | i 418.9 | ||||||||||||||||||||||
| Total | $ | i 515.0 | $ | i 517.3 | $ | i 961.7 | $ | i 1,027.1 | ||||||||||||||||||
| Three Months Ended June 30, | ||||||||||||||||||||||||||
| 2022 | 2021 | |||||||||||||||||||||||||
| Cost of revenue | $ | 0.8 | $ | 2.8 | ||||||||||||||||||||||
| Selling, general and administrative | 0.5 | 2.6 | ||||||||||||||||||||||||
| Research and development | — | 0.4 | ||||||||||||||||||||||||
| Other (expense), net | 1.8 | (0.7) | ||||||||||||||||||||||||
| Total | $ | 3.1 | $ | 5.1 | ||||||||||||||||||||||
| Six Months Ended June 30, | ||||||||||||||||||||||||||
| 2022 | 2021 | |||||||||||||||||||||||||
| Cost of revenue | $ | 3.5 | $ | 1.1 | ||||||||||||||||||||||
| Selling, general and administrative | (0.2) | 8.8 | ||||||||||||||||||||||||
| Research and development | (0.1) | 2.1 | ||||||||||||||||||||||||
| Other (expense), net | 2.9 | 1.6 | ||||||||||||||||||||||||
| Total | $ | 6.1 | $ | 13.6 | ||||||||||||||||||||||
| Total Segments | DWS | CA&I | ECS | |||||||||||||||||||||||
| Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||
| Customer revenue | $ | 443.1 | $ | 127.2 | $ | 130.1 | $ | 185.8 | ||||||||||||||||||
| Intersegment | — | — | — | — | ||||||||||||||||||||||
| Total revenue | $ | 443.1 | $ | 127.2 | $ | 130.1 | $ | 185.8 | ||||||||||||||||||
| Gross profit percent | 33.1 | % | 13.0 | % | 5.5 | % | 66.2 | % | ||||||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||
| Customer revenue | $ | 441.6 | $ | 148.4 | $ | 121.7 | $ | 171.5 | ||||||||||||||||||
| Intersegment | 0.4 | — | — | 0.4 | ||||||||||||||||||||||
| Total revenue | $ | 442.0 | $ | 148.4 | $ | 121.7 | $ | 171.9 | ||||||||||||||||||
| Gross profit percent | 32.2 | % | 15.4 | % | 11.1 | % | 61.6 | % | ||||||||||||||||||
Gross
profit percent is as a percent of total revenue. | ||
| Total Segments | DWS | CA&I | ECS | |||||||||||||||||||||||
| Six Months Ended June 30, 2022 | ||||||||||||||||||||||||||
| Customer revenue | $ | 817.6 | $ | 252.0 | $ | 259.2 | $ | 306.4 | ||||||||||||||||||
| Intersegment | — | — | — | — | ||||||||||||||||||||||
| Total revenue | $ | 817.6 | $ | 252.0 | $ | 259.2 | $ | 306.4 | ||||||||||||||||||
| Gross profit percent | 28.4 | % | 12.9 | % | 5.4 | % | 60.6 | % | ||||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||
| Customer revenue | $ | 874.5 | $ | 291.3 | $ | 242.4 | $ | 340.8 | ||||||||||||||||||
| Intersegment | 1.4 | — | — | 1.4 | ||||||||||||||||||||||
| Total revenue | $ | 875.9 | $ | 291.3 | $ | 242.4 | $ | 342.2 | ||||||||||||||||||
| Gross profit percent | 31.5 | % | 14.4 | % | 9.7 | % | 61.6 | % | ||||||||||||||||||
| Exhibit Number | Description | ||||
| Restated Certificate of Incorporation of Unisys Corporation (incorporated by reference to Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed on April 30, 2010) | |||||
| Certificate of Amendment of the Restated Certificate of Incorporation of Unisys Corporation (incorporated by reference to Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed on April 28, 2011) | |||||
| Certificate of Amendment of the Restated Certificate of Incorporation of Unisys Corporation (incorporated by reference to Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed on April 28, 2017) | |||||
| Bylaws of Unisys Corporation, as amended through May 10, 2019 (incorporated by reference to Exhibit 3.1 to the registrant’s Current Report on Form 8-K filed on May 15, 2019) | |||||
| Certification of Peter A. Altabef required by Rule 13a-14(a) or Rule 15d-14(a) | |||||
| Certification of Debra McCann required by Rule 13a-14(a) or Rule 15d-14(a) | |||||
| Certification of Peter A. Altabef required by Rule 13a-14(b) or Rule 15d-14(b) and Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350 | |||||
| Certification of Debra McCann required by Rule 13a-14(b) or Rule 15d-14(b) and Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350 | |||||
| 101 | The following financial information from Unisys Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 formatted in iXBRL (Inline Extensible Business Reporting Language): (i) Consolidated Statements of Income (Loss), (ii) Consolidated Statements of Comprehensive Income (Loss), (iii) Consolidated Balance Sheets, (iv) Consolidated Statements of Cash Flows, (v) Consolidated Statements of Deficit, and (vi) Notes to Consolidated Financial Statements | ||||
| 104 | Cover page Interactive Data File (the cover page XBRL tags are embedded within the iXBRL (Inline Extensible Business Reporting Language) document) | ||||
| UNISYS CORPORATION | ||||||||
Date: August 3, 2022 | By: | /s/ Debra McCann | ||||||
| Debra McCann | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||
| (Principal Financial Officer) | ||||||||
| By: | /s/ Erin Mannix | |||||||
| Erin Mannix | ||||||||
| Vice President and Chief Accounting Officer | ||||||||
| (Principal Accounting Officer) | ||||||||
| This ‘10-Q’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 11/1/27 | ||||
| 11/1/25 | ||||
| 10/29/25 | ||||
| 3/1/24 | ||||
| 12/20/23 | ||||
| 11/1/23 | ||||
| Filed on: | 8/3/22 | 8-K | ||
| For Period end: | 6/30/22 | |||
| 3/31/22 | 10-Q | |||
| 1/1/22 | 4 | |||
| 12/31/21 | 10-K, 11-K, SD | |||
| 12/14/21 | 8-K | |||
| 6/30/21 | 10-Q | |||
| 3/31/21 | 10-Q | |||
| 3/3/21 | 4, 8-K | |||
| 12/31/20 | 10-K, 11-K, SD | |||
| 5/15/19 | 8-K | |||
| 5/10/19 | 8-K, DEF 14A, PRE 14A | |||
| 4/28/17 | 10-Q, 8-K | |||
| 4/28/11 | 8-K | |||
| 4/30/10 | 10-Q, 4/A, 8-K | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/15/19 Unisys Corp. 8-K:5,9 5/10/19 2:153K 4/28/17 Unisys Corp. 8-K:5,8,9 4/26/17 2:67K 4/28/11 Unisys Corp. 8-K:5,8,9 4/27/11 2:8K 4/30/10 Unisys Corp. 8-K:5,8,9 4/29/10 3:101K |