Company: UIS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000746838-25-000008
Chunk: 133

Company: UNISYS CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 133
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 the assets of the company and the subsidiary guarantors, other than certain excluded assets, under a security agreement entered into by the company and the subsidiary guarantors in favor of Bank of America, N.A., as agent for the lenders under the credit facility. The company is required to maintain a minimum fixed charge coverage ratio if the availability under the Amended and Restated ABL Credit Facility falls below the greater of 10% of the lenders’ commitments under the facility and $12.5 million.The Amended and Restated ABL Credit Facility contains customary representations and warranties, including, but not limited to, that there has been no material adverse change in the company’s business, properties, operations or financial condition. The Amended and Restated ABL Credit Facility includes restrictions on the ability of the company and its subsidiaries to, among other things, incur other debt or liens, dispose of assets and make acquisitions, loans and investments, repurchase its equity, and prepay other debt. These restrictions are subject to several important limitations and exceptions. Events of default include non-payment, failure to comply with covenants, materially incorrect representations and warranties, change of control and default under other debt aggregating at least $50.0 million, subject to relevant cure periods, as applicable.

Note 16 — Other accrued liabilities

Other accrued liabilities (current) are comprised of the following:As of December 31,20242023Payrolls and commissions$135.1 $124.5 Income taxes47.0 31.4 Taxes other than income taxes24.0 27.4 Accrued vacations21.5 22.4 Operating leases15.0 19.1 Cost reduction13.0 9.4 Pension and postretirement9.7 10.2 Accrued interest5.6 5.8 Other43.8 58.2 Total other accrued liabilities$314.7 $308.4 

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Note 17 — Employee plans

Stock plans Under stockholder approved stock-based plans, stock options, stock appreciation rights, restricted stock and restricted stock units may be granted to officers, directors and other key employees. At December 31, 2024, 8.2 million shares of unissued common stock of the company were available for granting under these plans.As of December 31, 2024, the company has granted restricted stock and restricted stock units under these plans. The company recognizes compensation cost