SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
(Mark One):
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2009
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ________ to _____________.
Commission file number 1-8729
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
UNISYS SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and the
address of its principal executive office:
UNISYS CORPORATION
801 Lakeview Dr., Suite 100
Blue Bell, Pennsylvania 19422
REQUIRED INFORMATION
Unisys Savings Plan
Financial Statements and Supplemental Schedule
Years ended December 31, 2009 and 2008
(With Report of Independent Registered Public Accounting Firm Thereon)
CONTENTS
Report of Independent Registered Public Accounting Firm 1
Financial Statements:
Statements of Net Assets Available for Benefits - December 31, 2009 and 2008 2
Statements of Changes in Net Assets Available for Benefits - Years Ended
December 31, 2009 and 2008 3
Notes to Financial Statements 4
Supplemental Schedule:
Schedule H, Line 4i - Schedule of Assets
(Held at End of Year) - December 31, 2009 13
Exhibit Index 15
1
Report of Independent Registered Public Accounting Firm
The Plan Administrator
Unisys Savings Plan:
We have audited the accompanying statements of net assets available for
benefits of the Unisys Savings Plan (the Plan) as of December 31, 2009 and
2008, and the related statements of changes in net assets available for
benefits for the years then ended. These financial statements are the
responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 2009 and 2008, and the changes in net assets available for
benefits for the years then ended, in conformity with U.S. generally accepted
accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule, Schedule H,
line 4i - Schedule of Assets (Held at End of Year) - December 31, 2009 is
presented for the purpose of additional analysis and is not a required part of
the basic financial statements but is supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. This supplemental schedule
is the responsibility of the Plan's management. The supplemental schedule has
been subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
/s/ KPMG LLP
Philadelphia, PA
June 28, 2010
2
UNISYS SAVINGS PLAN
Statements of Net Assets Available for Benefits
December 31, 2009 and 2008
(In thousands)
2009 2008
------------------------------------
Investments (at fair value) $1,836,013 $1,533,312
Participants' loans 11,020 12,719
Employer contributions receivable -- 4,375
------------ ----------
Net assets available for
benefits before adjustment
to contract value 1,847,033 1,550,406
Adjustment from fair value to contract
value for fully benefit-responsive
investment contracts (491) 6,875
------------ ----------
Net assets available for benefits $1,846,542 $1,557,281
============ ==========
See accompanying notes to financial statements.
3
UNISYS SAVINGS PLAN
Statements of Changes in Net Assets Available for Benefits
Years ended December 31, 2009 and 2008
(In thousands)
2009 2008
----------------------------------
Additions to net assets attributed to:
Investment income:
Interest and dividend income $ 31,673 $ 61,179
Net appreciation in fair value
of investments 405,391 --
---------- ----------
437,064 61,179
---------- -----------
Contributions:
Employer -- 43,349
Employee 62,794 81,509
---------- -----------
62,794 124,858
---------- -----------
Total additions 499,858 186,037
---------- -----------
Deductions from net assets attributed to:
Net depreciation in fair value
of investments -- 777,218
Benefits paid to participants 210,473 259,670
Administrative and other expenses 124 217
---------- -----------
Total deductions 210,597 1,037,105
---------- -----------
Net increase (decrease) 289,261 (851,068)
Net assets available for benefits:
Beginning of year 1,557,281 2,408,349
---------- -----------
End of year $1,846,542 $1,557,281
========== ===========
See accompanying notes to financial statements.
4
UNISYS SAVINGS PLAN
Notes to Financial Statements
December 31, 2009 and 2008
1. PLAN DESCRIPTION
The Unisys Savings Plan (the Plan) is a defined contribution plan that covers
nonbargaining employees paid from a United States payroll of Unisys Corporation
(the Company) and bargaining unit employees whose collective bargaining
agreement provides for participation in the Plan. The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974, as amended
(ERISA).
Participants should refer to the Plan document, summary plan description and
their respective bargaining unit agreement, if applicable, for complete
information.
(a) Contributions
Each plan year, participants may contribute up to 30% or 18% of their pretax
eligible compensation up to the prescribed Internal Revenue Code of 1986, as
amended (the Code) limit, depending on their classification as a non-highly
compensated or highly compensated employee, respectively. Participants who are
age 50 or older and meet certain other plan requirements regarding
contributions may make catch-up contributions to the Plan. Participants may
also make after-tax contributions up to 6% of their eligible compensation.
Commencing January 1, 2007 the Company can make a nondiscretionary matching
contribution in Company Common Stock or cash, as determined by the Company in
its sole discretion, equal to 100% of the first 6% of eligible compensation
deferred by the participant on a pretax basis. The Plan also allows for
rollover contributions from other qualified defined contribution plans.
Effective January 1, 2009, the Company elected to suspend the company match.
Employees are still eligible to make unmatched pretax and after-tax
contributions.
(b) Investment Options
Participants may elect to have their current contributions and existing account
balances invested in certain investment options offered and managed by Fidelity
Management & Research Company and Fidelity Management Trust Company (Fidelity).
Information regarding the investment options is provided to each participant
through electronic media, or printed media upon request, and prepared materials
provided by the Company and in each investment fund's prospectus made available
by Fidelity.
(c) Participant Accounts
Each participant's account is credited with the participant's contributions,
matching contributions from the Company and allocations of Plan earnings
(losses) and is charged with an allocation of administrative expenses.
Allocations are based on participant earnings or account balances, as defined
in the Plan document. The benefit to which a participant is entitled is equal
to the vested portion of his or her account.
(d) Vesting and Forfeitures
Plan participants who were actively employed on January 1, 2000 or later are
immediately vested in their account balances at all times. Before January 1,
2000, participants were fully vested after five years of services, as defined
in the Plan document.
5
(e) Participant Loans
Participants may borrow from their Plan accounts up to a maximum equal to the
lesser of: (i) the lesser of $50,000 or 50% of their vested account balance; or
(ii) the greater of $10,000, or one-half of the value of the vested portion of
the employee's accounts under all plans maintained by the Company and all
affiliates. Loan terms range from one to five years, or up to 15 years for the
purchase of a primary residence. The loans are secured by the balance in the
participant's account and bear interest at a fixed rate of interest that is
commercially reasonable, as determined by the Plan Manager. A participant may
not have more than one loan outstanding. Principal and interest is paid ratably
through payroll deductions. Participant loans outstanding at December 31, 2009
bear interest ranging from 4.0% to 10.5%. As of December 31, 2009, participant
loan maturity dates ranged from January 2010 to January 2025. Participant loans
are valued at amortized cost.
(f) Payment of Benefits
On termination of service, a participant may receive a lump-sum amount equal to
the vested balance of his or her account or elect to rollover his or her
balance into an eligible retirement plan as defined in the Code, including
another qualified plan the terms of which permit the acceptance of rollover
distributions. Upon death, disability, or retirement, a participant may elect
to receive payments in the form of an annuity or annual installments payable to
the participant or his or her estate over a period no greater than the joint
life expectancy of the participant and his or her beneficiary. Plan
participants also may receive in-service withdrawals in certain circumstances
as defined in the Plan.
(g) Plan Termination
The Company has the right under the Plan to discontinue its matching
contributions and/or to terminate the Plan at any time subject to the
provisions of ERISA. As of December 31, 2009, the Company has not expressed any
intent to terminate the Plan. In the event of plan termination, participants
remain 100% vested in their accounts.
2. SIGNIFICANT ACCOUNTING POLICIES
(a) Basis of Accounting
The accompanying financial statements were prepared under the accrual basis of
accounting, except for benefit distributions, which are recorded when paid.
(b) Use of Estimates
The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets, liabilities, and
changes therein, and disclosure of contingent assets and liabilities. Actual
results could differ from those estimates.
(c) Investment Valuation and Income Recognition
The Plan's investments are stated at fair value. Shares of registered
investment companies are valued at quoted market prices, which represent net
asset values of shares held by the Plan at year-end. The fair value of the
participation units owned in the commingled pool fund are based on quoted
redemption values on the last business day of the plan year. Shares of Unisys
common stock are valued at the closing market price on the last day of the plan
year.
6
The Unisys Interest Income Fund includes investments in synthetic guaranteed
investment contracts issued principally by insurance companies and financial
institutions. As required by accounting rules, investment contracts held by a
defined contribution plan are required to be reported at fair value. However,
contract value is the relevant measurement attribute for that portion of the
net assets available for benefits of a defined contribution plan attributable
to fully benefit-responsive investment contracts because contract value is the
amount participants would receive if they were to initiate permitted
transactions under the terms of the Plan. The Statements of Net Assets
Available for Benefits presents the fair value of the investment contracts as
well as the adjustment of the fully benefit-responsive investment contracts
from fair value to contract value. The Statements of Changes in Net Assets
Available for Benefits are prepared on a contract value basis. The guaranteed
investment contract issuer is contractually obligated to repay the principal
and a specified interest rate that is guaranteed to the Plan. Contract value
represents contributions and reinvested income, less any withdrawals plus
accrued interest, because these investments have fully benefit-responsive
features. All participant-initiated transactions with the fund are permitted at
contract value. Withdrawals may not be transferred to competing (short-term
bond) funds for 90 days. No other conditions, limits, or restrictions apply to
participant-initiated transactions to or from the Interest Income Fund.
However, withdrawals influenced by Company-initiated events, such as in
connection with the sale of a business, may result in a distribution at other
than contract value. The Plan Administrator does not believe that the
occurrence of any of these events which would limit the Plan's availability to
transact at contract value is probable of occurring. No reserves have been
provided or are considered necessary against contract values for credit risk of
contract issuers or otherwise. Crediting interest rates as of December 31, 2009
and 2008 ranged from 0.26% to 2.04% and 2.16% to 4.11%, respectively. Interest
rates are set at the time the contract is negotiated and, depending on the
terms of the contract, are fixed through the maturity date or are re-set
monthly or quarterly. The average yield on the contracts was 2.51% and 4.58%
for 2009 and 2008, respectively.
Purchases and sales of securities are recorded on a trade-date basis. Interest
income is reported on the accrual basis. Dividends are recorded on the ex-
dividend date.
(d) Recent Accounting Pronouncements
In 2009, the Plan adopted the Financial Accounting Standards Board's (FASB)
Accounting Standards Codification (the Codification). The Codification is not
expected to change U.S. generally accepted accounting principles but combines
all nongovernmental authoritative standards into a comprehensive, topically
organized online database. All other accounting literature excluded from the
Codification will be considered nonauthoritative. All references to
authoritative accounting literature have been made in accordance with the
Codification.
In September 2009, the Plan adopted FASB authoritative guidance that
establishes the accounting for, and disclosure of, material events that occur
after the balance sheet date but before the financial statements are issued. In
general, these events will be recognized if the condition existed at the date
of the balance sheet, but will not be recognized if the condition did not exist
at the balance sheet. Disclosure is required for nonrecognized events if
required to keep the financial statements from being misleading. This guidance
is very similar to previous guidance provided in auditing literature. The
adoption of this new guidance did not result in significant changes in practice
and did not have a material impact on the Plan.
7
For the year ended December 31, 2009, the Plan adopted an ASC update for fair
value measurements and disclosures related to certain alternative investments.
The guidance permits the use of a qualifying investment's net asset value per
share to estimate fair value, as a practical expedient to measuring fair value.
The update also requires additional disclosure by category of investment about
the nature and risks of investments within its scope that are measured at fair
value on a recurring on nonrecurring basis. This update was effective for the
Plan for the year ended December 31, 2009. The adoption of this new guidance
did not have an impact on the Statement of Net Assets Available for Benefits or
the Statement of Changes in Net Assets Available for Benefits.
In January 2010, the FASB issued another update to the fair value measurements
and disclosures topic, requiring additional disclosures regarding fair value
measurements, amending disclosures about post-retirement benefit plan assets
and providing clarification regarding the level of disaggregation of fair value
disclosures by investment class. The provisions of this update to the fair
value measurements and disclosures topic are effective for reporting periods
beginning after December 15, 2009, except for certain Level 3 disclosure
requirements that will be effective for reporting periods beginning after
December 15, 2010. The Plan is currently evaluating the impact of the adoption
of this update to the fair value measurements and disclosures topic effective
as of January 1, 2010.
3. FAIR VALUE MEASUREMENT
Accounting rules have established a fair value hierarchy that encourages the
use of observable inputs when measuring fair value, but allows for unobservable
inputs when observable inputs do not exist. The following provides a
description of the three levels of inputs used to measure fair value and the
types of Plan investments.
Level 1 - Quoted prices in active markets for identical investments
Common Stock, Mutual Funds, and Money Market Funds
These investments are valued using quoted prices in an active market. Units of
registered investment companies are public investment securities valued using
the Net Asset Value (NAV) provided by the Trustee. The NAV is based on the
value of the underlying assets owned by the fund, minus its liabilities,
divided by the number of shares outstanding. The NAV is a quoted price in an
active market.
Level 2 - Inputs other than Level 1 prices that are observable, either directly
or indirectly, such as quoted prices in active markets for similar investments,
quoted prices for identical or similar investments in markets that are not
active, or other inputs that are observable or can be corroborated by
observable market data for substantially the full term of the investment.
Commingled Pool Fund, Commingled Bond Funds
8
These investments are public investment securities valued using the NAV
provided by the Trustee. The NAV is quoted on a private market that is not
active; however, the unit price is based on underlying investments, which are
traded on an active market.
Unisys Interest Income Fund
The fund invests in a diversified portfolio of short-term bonds and other fixed
income securities. The fund also purchases third party wrap contracts that are
designed to permit the fund to use contract value accounting to provide for the
payment of participant directed withdrawals and exchanges at contract value
under most circumstances. Investments in wrap contracts are fair valued using a
discounted cash flow model that considers recent fee bids as determined by
recognized dealers, discount rate, and the duration of the underlying portfolio
securities. Underlying debt securities, including restricted securities are
valued based on quotations received from dealers who make markets in such
securities or by independent pricing services.
Level 3 - Unobservable inputs that are supported by little or no market
activity and that are significant to the fair value measurement of the
investment.
The Plan has no Level 3 investments.
The methods described above may produce a fair value calculation that may not
be indicative of net realizable value or reflective of future fair values.
Furthermore, while the Plan's valuation methods are appropriate and consistent
with other market participants, the use of different methodologies or
assumptions to determine the fair value of certain financial instruments could
result in a different fair value measurement at the reporting date.
The following sets forth by level, within the fair value hierarchy, the Plan's
assets at fair value at December 31, 2009 (in thousands):
Fair value Level 1 Level 2 Level 3
-------------------------------------------------
Mutual Funds:
Equity $ 757,805 $ 757,805 $ -- --
Balanced 369,276 369,276 -- --
Bonds 131,756 131,756 -- --
Money Market 147,777 147,777 -- --
Common Collective Trusts:
Equity 15,742 -- 15,742 --
Debt 18,071 -- 18,071
Unisys Common Stock Funds 109,714 109,714 -- --
Unisys Interest Income Fund 285,872 -- 285,872 --
-------------------------------------------------
$1,836,013 $1,516,328 $319,685 --
=================================================
9
The following sets forth by level, within the fair value hierarchy, the Plan's
assets at fair value at December 31, 2008 (in thousands):
Fair value Level 1 Level 2 Level 3
-------------------------------------------------
Mutual Funds:
Equity $ 585,376 $ 585,376 $ -- --
Balanced 308,261 308,261 -- --
Bonds 112,081 112,081 -- --
Money Market 168,281 168,281 -- --
Common Collective Trusts:
Equity 13,922 -- 13,922 --
Debt 15,751 -- 15,751
Unisys Common Stock Funds 29,648 29,648 -- --
Unisys Interest Income Fund 299,992 -- 299,992 --
-------------------------------------------------
$1,533,312 $1,203,647 $329,665 --
=================================================
4. INVESTMENTS
The Plan's investments at December 31, 2008 were held in trusts with Fidelity
Management Trust Company and Wachovia Bank N.A., each of which was established
for the investment of the Plan's assets. In March 2009, the Wachovia funds were
transferred to Fidelity Management Trust Company.
During 2009 and 2008, the Plan's investments (including gains and losses on
investments bought and sold, as well as held during the year) appreciated
(depreciated) in fair value as follows:
2009 2008
-------------------------------------
(In Thousands)
Mutual Funds $302,445 $(702,631)
Common Collective Trusts 5,343 (8,385)
Unisys Common Stock Funds 97,603 (66,202)
-------------------------------------
$405,391 $(777,218)
=====================================
10
Investments that represent 5% or more of fair value of the Plan's assets are as
follows:
December 31
2009 2008
--------------------------------------
(In Thousands)
Unisys Interest Income Fund
(stated at contract value) $285,381 $306,867
Fidelity Institutional Money Market Fund 110,393 122,809
Fidelity Asset Manager Fund 113,364 97,323
Fidelity Magellan Fund 120,387 94,061
Fidelity Asset Manager Growth Fund 108,612 90,450
Fidelity Contra Fund 98,299 81,280
Unisys Stock Fund 107,345 29,063
Employer matching contributions to the Plan are invested in the Unisys Stock
Fund. Because of a change in Federal law, effective January 1, 2007, the Plan
allows participants the right to move any portion of their account that is
added to the participant's Plan account on or after January 1, 2007 that is
invested in the Unisys Stock Fund, into other investment alternatives under the
Plan. This right extends to all of the Unisys Stock Fund held under the Plan,
except that it applies within limits to participant's pre-2007 account balance.
Prior to January 1, 2007, the Plan allowed a participant who was age 50 or
older to divest up to 100% of their pre-2007 Unisys Stock Fund holdings.
Effective January 1, 2007, Plan participants can divest up to 100% of their
pre-2007 holdings in the Unisys Stock Fund as of January 1st of the calendar
year in which the participant turns 50. In accordance with the transition
provisions of the Federal law, Plan participants under age 50 with at least
three years of service were allowed to divest their pre-2007 Unisys Stock
Fund balance as follows: beginning January 1, 2007, 33% of the shares owned
prior to 2007; January 1, 2008, 66% of the shares owned prior to 2007; and
January 1, 2009, 100% of the shares owned prior to 2007.
Information about the net assets and the significant components of the changes
in net assets relating to the predominantly nonparticipant-directed investments
is as follows:
December 31
2009 2008
--------------------------------------
(In Thousands)
Net Assets:
Unisys Stock Fund $ -- $29,063
Unisys Common Stock Fund -- 585
--------------------------------------
$ -- $29,648
======================================
11
Year Ended December 31
2009 2008
--------------------------------------
(In Thousands)
Changes in net assets:
Interest and dividends $ -- $ 65
Net depreciation in
fair value of investments -- (66,202)
Contributions, net -- 13,558
Benefit payments -- (4,154)
Administrative and other expenses -- (7)
Net transfers -- 10,052
--------------------------------------
Total $ -- $(46,688)
======================================
5. TAX STATUS OF THE PLAN
The Plan has received a determination letter from the Internal Revenue Service
dated September 25, 2002, stating that the Plan is qualified under Section
401(a) of the Code and therefore, the related trust is exempt from taxation.
Subsequent to this determination by the Internal Revenue Service, the Plan was
amended and restated.
Once qualified, the Plan is required to operate in conformity with the Code to
maintain its qualification. The Plan Sponsor has indicated that it will take
the necessary steps, if any, to bring the Plan's operations into compliance
with the Code.
6. RISKS AND UNCERTAINTIES
The Plan invests in various investment securities. Investment securities are
exposed to various risks such as interest rate, market, and credit risks. Due
to the level of risk associated with certain investment securities, it is at
least reasonably possible that changes in the values of investment securities
will occur in the near term and that such changes could materially affect
participants' account balances and the amounts reported in the Statement of Net
Assets Available for Benefits. Recent market conditions have resulted in an
unusually high degree of volatility and increased the risks and short-term
liquidity associated with certain investments held by the Plan, which could
impact the value of investments after the date of these financial statements.
7. RELATED-PARTY TRANSACTIONS
Certain Plan investments are shares of registered investment companies managed
by Fidelity Management Trust Company, the Trustee. The Plan also holds shares
of common stock of the Company. At December 31, 2009, the Plan held 61,172 and
2,751,463 shares of Unisys Common Stock in the Unisys Common Stock Fund and
Unisys Stock Fund, respectively. At December 31, 2008, the Plan held 68,509 and
3,363,622 shares of Unisys Common Stock in the Unisys Common Stock Fund and
Unisys Stock Fund, respectively. These transactions qualify as party-in-interest
transactions and are exempt from the prohibited transaction rules.
12
8. DIFFERENCES BETWEEN FINANCIAL STATEMENTS AND FORM 5500
The following is a reconciliation of net assets available for benefits per the
financial statements to the Form 5500:
December 31
2009 2008
--------------------------------------
(In Thousands)
Net assets available for benefits per
the financial statements $1,846,542 $1,557,281
Adjustment to fair value from
contract value for fully benefit-
responsive investment contracts 491 (6,875)
--------------------------------------
Net assets available for benefits
per the Form 5500 $1,847,033 $1,550,406
======================================
The following is a reconciliation of investment income for the year ended
December 31, 2009, per the financial statements to the Form 5500 (in thousands):
Net investment income per the financial statements $437,064
Adjustment to fair value from contract value
for fully benefit-responsive investment contracts 491
Reversal of prior year adjustment to fair value from
contract value for fully benefit-responsive
investment contracts 6,875
---------
Investment income per the Form 5500 $444,430
=========
9. SUBSEQUENT EVENTS EVALUATION
Management has evaluated the need for disclosure and/or adjustments resulting
from subsequent events through the date these financial statements were issued.
The evaluation determined that there were no subsequent events that
necessitated disclosure and/or adjustments.
13
UNISYS SAVINGS PLAN
EIN: 38-0387840 Plan: 004
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2009
Description of investment
including maturity date,
number of shares,
Identity of issuer, borrower, rate of interest, Current
lessor or similar party par or no par, maturity value Cost** value
- ------------------------------------------------------------------------------------------------------------------
*Fidelity Funds:
Fidelity Fund Registered Investment Company $ $ 9,190,309
Puritan Fund Registered Investment Company 14,274,966
Trend Fund Registered Investment Company 2,726,570
Ginnie Mae Portfolio Fund Registered Investment Company 12,286,711
Magellan Fund Registered Investment Company 120,387,399
Contra Fund Registered Investment Company 98,299,157
Equity Income Fund Registered Investment Company 15,883,631
Growth Company Fund Registered Investment Company 22,378,657
Growth & Income Portfolio Registered Investment Company 11,858,671
Capital & Income Portfolio Fund Registered Investment Company 20,327,026
Value Fund Registered Investment Company 34,440,525
Mortgage Securities Portfolio Fund Registered Investment Company 1,795,806
Government Securities Fund Registered Investment Company 24,752,147
Independence Fund Registered Investment Company 10,183,014
Over-The-Counter Portfolio Fund Registered Investment Company 11,759,677
Overseas Fund Registered Investment Company 6,324,675
Europe Fund Registered Investment Company 6,463,166
Pacific Fund Registered Investment Company 6,366,757
Real Estate Investment Portfolio
Fund Registered Investment Company 12,406,837
Balanced Fund Registered Investment Company 34,940,805
International Growth & Income Fund Registered Investment Company 13,072,892
Capital Appreciation Fund Registered Investment Company 10,500,482
Conv. Securities Fund Registered Investment Company 11,164,025
Canada Fund Registered Investment Company 28,092,799
Utilities Fund Registered Investment Company 8,441,277
Blue Chip Fund Registered Investment Company 33,061,523
Asset Manager Fund Registered Investment Company 113,363,577
Disciplined Equity Fund Registered Investment Company 4,168,271
Low-Priced Fund Registered Investment Company 43,766,091
Worldwide Fund Registered Investment Company 5,334,535
Equity Income II Fund Registered Investment Company 17,938,129
Stock Selector Fund Registered Investment Company 4,403,662
Asset Manager Growth Fund Registered Investment Company 108,612,233
Emerging Markets Fund Registered Investment Company 17,692,583
Aggressive Growth Fund Registered Investment Company 11,718,289
Diversified International Fund Registered Investment Company 31,069,345
Asset Manager Income Fund Registered Investment Company 24,285,708
Dividend Growth Fund Registered Investment Company 18,178,721
New Markets Income Fund Registered Investment Company 21,276,365
Export & Multinational Fund Registered Investment Company 10,652,677
Global Balanced Fund Registered Investment Company 4,100,671
Aggressive International Fund Registered Investment Company 2,598,881
Small Capital Stock Fund Registered Investment Company 12,210,343
Mid-Capital Stock Fund Registered Investment Company 23,194,347
Large-Capital Stock Fund Registered Investment Company 4,673,986
Discovery Registered Investment Company 1,934,494
Europe Capital Appreciation
Stock Fund Registered Investment Company 4,270,682
Asset Manager Aggressive Registered Investment Company 2,853,017
Latin America Fund Registered Investment Company 39,096,342
Japan Fund Registered Investment Company 2,552,780
Southeast Asia Fund Registered Investment Company 13,388,798
Strategic Income Registered Investment Company 15,161,229
Freedom Income Fund Registered Investment Company 1,659,711
Freedom 2000 Fund Registered Investment Company 1,116,065
Freedom 2010 Fund Registered Investment Company 11,967,936
Freedom 2020 Fund Registered Investment Company 21,333,713
Freedom 2030 Fund Registered Investment Company 14,692,103
Spartan Total Market Index Fund Registered Investment Company 11,021,730
Spartan Extended Market Index Fund Registered Investment Company 6,113,861
Spartan International Market
Index Fund Registered Investment Company 4,452,295
*Fidelity Funds:
Fifty Fund Registered Investment Company 5,535,996
U.S. Bond Index Portfolio Fund Registered Investment Company 21,987,182
Institutional Short-Intermediate
Government. Portfolio Registered Investment Company 5,910,466
Inflation Pro Bond Registered Investment Company 8,259,369
FID Freedom 2040 Registered Investment Company 4,912,220
---------------
1,258,837,907
---------------
*Fidelity Institutional Funds:
Institutional Money Market Fund Registered Investment Company 110,393,120
*Fidelity Money Market Funds:
Retirement Money Market
Portfolio Fund Registered Investment Company 1,904,790
Retirement Gov't. Money Market
Portfolio Fund Registered Investment Company 35,478,799
---------------
37,383,589
---------------
*Fidelity U.S. Equity Index
Commingled Pool Fund Commingled Pool Fund 15,741,638
FMTC Short Duration Pool Commingled Pool Fund 3,235,356
FMTC Broad Market Duration Pool Commingled Pool Fund 6,927,571
FMTC Intermediate Duration Pool Commingled Pool Fund 7,908,226
---------------
33,812,791
---------------
Total Fidelity Funds 1,440,427,407
---------------
*Unisys Common Stock Funds:
Unisys Common Stock Fund 61,172 shares of Common
Stock Fund 5,294,709 2,368,309
Unisys Stock Fund 2,751,463 shares of Common
Stock Fund 145,184,008 107,345,274
---------------
Total Unisys Common Stock Funds 109,713,583
---------------
*Unisys Interest Income Fund:
Fidelity STIF Cash Portfolio; 0.2597% 40,983,758
JP Morgan Chase #AUNISYS-2-07; 1.958% 82,917,845
AIG Financial Products #944763; 2.037% 39,559,413
Rabobank Nederland #UNI040701; 2.038% 61,165,335
State Street #107009; 2.018% 61,245,836
---------------
Total Unisys Interest Income Fund 285,872,187
---------------
*Participants' loans Interest rates from 4.00% to 10.50% -- 11,019,781
with maturities from 2010 to 2025 ---------------
Total $1,847,032,958
===============
* Party in interest
** Cost is not applicable for participant-directed investments
See accompanying Report of Independent Registered Public Accounting Firm.
14
SIGNATURES
THE PLAN. Pursuant to the requirements of the Securities Exchange Act of 1934,
the Plan administrator has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
UNISYS SAVINGS PLAN
UNISYS CORPORATION
Date: June 28, 2010 By: /s/ Scott Hurley
--------------------------
Scott Hurley
Vice President and
Corporate Controller
15
EXHIBIT INDEX
Exhibit
Number Description
- ------- -----------
23 Consent of KPMG LLP, Independent Registered Public
Accounting Firm
Consent of Independent Registered Public Accounting Firm The Plan Administrator Unisys Savings Plan: We consent to the incorporation by reference in registration statements (Nos. 333-155783 and 333-156569) on Form S-8 of Unisys Corporation of our report dated June 28, 2010, with respect to the statements of net assets available for benefits of the Unisys Savings Plan as of December 31, 2009, the related statements of changes in net assets available for benefits for the year then ended, and the supplemental Schedule H, Line 4i - schedule of assets (held at end of year) as of December 31, 2009, which report appears in the December 31, 2009 annual report on Form 11-K of the Unisys Savings Plan. /s/ KPMG LLP Philadelphia, PA June 28, 2010