$UIS

UNISYS CORP

CIK:0000746838|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 473.5	$ 483.3	$ 911.1	$ 915.4
Costs and expenses
Cost of revenue	356.2	353.3	681.3	677.9
Selling, general and administrative	95.7	93.6	187.2	190.4
Research and development	5.8	6.1	10.6	11.7
Goodwill and intangible asset impairment	48.7	0.0	48.7	0.0
Costs and expenses	506.4	453.0	927.8	880.0
Operating (loss) income	(32.9)	30.3	(16.7)	35.4
Interest expense	18.3	8.2	36.8	16.4
Other (expense), net	(28.6)	(22.1)	(49.4)	(39.0)
Loss before income taxes	(79.8)	0.0	(102.9)	(20.0)
Provision for income taxes	15.8	20.0	29.5	30.6
Consolidated net loss	(95.6)	(20.0)	(132.4)	(50.6)
Net (loss) income attributable to noncontrolling interests	(0.3)	0.1	(1.3)	(1.0)
Net loss attributable to Unisys Corporation	$ (95.3)	$ (20.1)	$ (131.1)	$ (49.6)
Loss per share attributable to Unisys Corporation
Basic (in dollars per share)	$ (1.31)	$ (0.28)	$ (1.81)	$ (0.70)
Diluted (in dollars per share)	$ (1.31)	$ (0.28)	$ (1.81)	$ (0.70)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Consolidated net loss	$ (132.4)	$ (50.6)
Adjustments to reconcile consolidated net loss to net cash used for operating activities:
(Gains) loss on debt extinguishment	(0.2)	6.8
Foreign currency gains	(4.3)	(2.3)
Employee stock compensation	7.2	9.7
Depreciation and amortization of properties	10.1	12.0
Depreciation and amortization of capitalized contract costs	13.5	7.5
Amortization of marketable software	23.8	27.0
Amortization of intangible assets	2.0	2.1
Goodwill and intangible asset impairment	48.7	0.0
Other non-cash operating activities	0.1	2.1
Pension and postretirement contributions	(58.1)	(287.6)
Pension and postretirement expense	60.9	43.9
Deferred income taxes, net	(3.6)	1.4
Changes in operating assets and liabilities:
Receivables, net and contract assets	85.4	49.1
Inventories	(2.5)	(11.1)
Other assets	(1.1)	13.3
Accounts payable and current liabilities	(70.1)	(111.6)
Other liabilities	(10.1)	5.4
Net cash used for operating activities	(30.7)	(282.9)
Cash flows from investing activities
Investment in marketable software	(21.1)	(23.6)
Capital additions of properties and other assets	(22.7)	(16.8)
Proceeds from foreign exchange forward contracts	0.0	1,776.5
Purchases of foreign exchange forward contracts	0.0	(1,746.0)
Other	(0.4)	(0.1)
Net cash used for investing activities	(44.2)	(10.0)
Cash flows from financing activities
Proceeds from issuance of long-term debt	0.0	700.0
Payments of long-term debt	(9.5)	(488.6)
Issuance costs relating to long-term debt	0.0	(13.8)
Cash paid for debt extinguishment	0.0	(4.0)
Other	(5.1)	(3.3)
Net cash (used for) provided by financing activities	(14.6)	190.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0.3	21.0
Decrease in cash, cash equivalents and restricted cash	(89.2)	(81.6)
Cash, cash equivalents and restricted cash, beginning of period	421.7	390.6
Cash, cash equivalents and restricted cash, end of period	$ 332.5	$ 309.0

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 324.3	$ 413.9
Accounts receivable, net	359.7	437.7
Contract assets	11.2	10.9
Inventories	16.4	13.8
Prepaid expenses and other current assets	134.5	127.7
Total current assets	846.1	1,004.0
Properties, net	56.7	53.1
Capitalized contract costs, net	71.2	73.6
Marketable software, net	165.9	166.1
Operating lease right-of-use assets	32.3	38.4
Prepaid pension and postretirement assets	38.2	21.3
Deferred income taxes	94.4	96.9
Goodwill	146.6	193.8
Intangible assets, net	27.7	31.2
Restricted cash	8.2	7.8
Other long-term assets	154.3	160.0
Total assets	1,641.6	1,846.2
Current liabilities:
Current maturities of long-term debt	11.6	12.7
Accounts payable	104.9	81.2
Deferred revenue	200.7	228.5
Other accrued liabilities	283.1	333.5
Total current liabilities	600.3	655.9
Long-term debt	721.9	729.0
Long-term pension and postretirement liabilities	485.1	517.7
Long-term deferred revenue	83.0	100.7
Long-term operating lease liabilities	25.3	30.6
Other long-term liabilities	77.9	80.6
Commitments and contingencies (see Note 14)
Deficit:
Common stock; Issued: June 30, 2026 - 80.2 shares and December 31, 2025 - 78.1 shares	0.8	0.8
Accumulated deficit	(2,610.0)	(2,478.9)
Treasury stock, shares at cost; June 30, 2026 - 7.3 shares and December 31, 2025 - 6.7 shares	(163.0)	(161.8)
Paid-in capital	4,791.8	4,785.2
Accumulated other comprehensive loss	(2,387.0)	(2,427.9)
Total Unisys Corporation stockholders' deficit	(367.4)	(282.6)
Noncontrolling interests	15.5	14.3
Total deficit	(351.9)	(268.3)
Total liabilities and deficit	$ 1,641.6	$ 1,846.2