|
Condensed Consolidated Statements of Income (Unaudited) |
Three Months Ended
December 31 |
Total Year Ended
December 31 |
|
2016 |
2015 |
% Change |
2016 |
2015 |
% Change |
|
Revenue |
721.7 |
789.9 |
(8.6%) |
2,820.7 |
3,015.1 |
(6.4%) |
| Cost of revenue | 561.5 | 630.9 | (11.0%) | 2,262.1 | 2,474.2 | (8.6%) |
| Selling, general and administrative | 109.8 | 130.0 | (15.5%) | 455.6 | 519.6 | (12.3%) |
| Research and development | 14.9 | 13.2 | 12.9% | 55.4 | 76.4 | (27.5%) |
|
Operating profit (loss) |
35.5 |
15.8 |
124.7% |
47.6 |
(55.1) |
NM |
| Interest expense | 7.5 | 3.6 | 108.3% | 27.4 | 11.9 | 130.3% |
| Other income (expense), net | (3.4) | 0.2 | NM | 0.3 | 8.2 | (96.3%) |
|
Income (loss) before income taxes |
24.6 |
12.4 |
98.4% |
20.5 |
(58.8) |
NM |
| Provision for income taxes | 23.0 | 11.1 | 107.2% | 57.2 | 44.4 | 28.8% |
|
Consolidated net income (loss) |
1.6 |
1.3 |
23.1% |
(36.7) |
(103.2) |
NM |
| Net income attributable to non-controlling interests | 2.8 | 0.2 | NM | 11.0 | 6.7 | 64.2% |
|
Net income (loss) attributable to Unisys Corporation |
(1.2) |
1.1 |
NM |
(47.7) |
(109.9) |
NM |
|
Earnings (loss) per common share (Diluted) |
($0.02) |
$0.02 |
NM |
(0.95) |
(2.20) |
NM |
| Diluted shares for per share computation (thousands) | 50,085 | 50,049 | 0.1% | 50,060 | 49,905 | 0.3% |
|
Condensed Consolidated Balance Sheets (Unaudited) |
December 31 |
% Change | |
|
2016 |
2015 |
| Cash and cash equivalents | 370.6 | 365.2 | 1.5% |
| Accounts and notes receivable, net | 505.8 | 581.6 | (13.0%) |
| Inventories | 29.0 | 43.8 | (33.8%) |
| Prepaid expense and other current assets | 121.9 | 120.9 | 0.8% |
|
Total current assets |
1,027.3 |
1,111.5 |
(7.6%) |
| Properties, net | 145.3 | 153.8 | (5.5%) |
| Outsourcing assets, net | 172.5 | 182.0 | (5.2%) |
| Marketable software, net | 137.0 | 138.5 | (1.1%) |
| Prepaid postretirement assets | 33.3 | 45.1 | (26.2%) |
| Deferred income taxes | 146.1 | 127.4 | 14.7% |
| Goodwill | 178.6 | 177.4 | 0.7% |
| Other long-term assets | 181.5 | 194.3 | (6.6%) |
|
Total non-current assets |
994.3 |
1,018.5 |
(2.4%) |
|
Total assets |
2,021.6 |
2,130.0 |
(5.1%) |
| Current maturities of long-term debt and notes payable | 106.0 | 76.8 | 38.0% |
| Accounts payable | 189.0 | 219.3 | (13.8%) |
| Deferred revenue | 337.4 | 335.1 | 0.7% |
| Other accrued liabilities | 349.2 | 329.9 | 5.9% |
|
Total current liabilities |
981.6 |
961.1 |
2.1% |
| Long-term debt | 194.0 | 233.7 | (17.0%) |
| Long-term postretirement liabilities | 2,292.6 | 2,111.3 | 8.6% |
| Long-term deferred revenue | 117.6 | 123.3 | (4.6%) |
| Other long-term liabilities | 83.2 | 79.2 | 5.1% |
|
Total non-current liabilities |
2,687.4 |
2,547.5 |
5.5% |
| Total deficit | (1,647.4) | (1,378.6) | 19.5% |
|
Total liabilities and equity |
2,021.6 |
2,130.0 |
(5.1%) |
|
Condensed Consolidated Statements of Cash Flows (Unaudited) |
Total Year Ended December 31 | |
|
2016 |
2015 |
|
Net cash provided by operating activities |
218.2 |
1.2 |
| Proceeds from/purchases of investments, net | (34.1) | 25.4 |
| Investment in marketable software | (63.3) | (62.1) |
| Capital additions of properties | (32.5) | (49.6) |
| Capital additions of outsourcing assets | (51.3) | (102.0) |
| Other | (1.0) | 10.4 |
|
Net cash used for investing activities |
(182.2) |
(177.9) |
| Proceeds from issuance of long-term debt | 213.5 | 31.8 |
| Payments of capped call transaction | (27.3) | 0.0 |
| Issuance costs relating to long-term debt | (7.3) | 0.0 |
| Payments of long-term debt | (129.8) | (10.4) |
| Proceeds from exercise of stock options | 0.0 | 3.7 |
| Net payments of short-term borrowing | (65.8) | 65.5 |
|
Net cash provided by (used for) financing activities |
(16.7) |
90.6 |
|
Effect of exchange rate changes on cash and cash equivalents |
(13.9) |
(43.0) |
|
Decrease in cash and cash equivalents |
5.4 |
(129.1) |
|
Cash and cash equivalents, beginning of period |
365.2 |
494.3 |
|
Cash and cash equivalents, end of period |
370.6 |
365.2 |
