Company: UIS
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000746838-25-000020
Chunk: 13

Company: UNISYS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 13
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 international subsidiaries have access to uncommitted lines of credit from various banks. The company believes that it will have adequate sources of liquidity to meet its expected cash requirements for at least the next twelve months.

Cash and cash equivalents at June 30, 2025 were $300.8 million compared to $376.5 million at December 31, 2024. 

As of June 30, 2025, $257.6 million of cash and cash equivalents were held by the company’s foreign subsidiaries and branches operating outside of the U.S. The company may not be able to readily transfer approximately one-fifth of these funds out of the country in which they are located as a result of local restrictions, contractual or other legal arrangements or commercial considerations. At June 30, 2025, the deferred tax liability on undistributed earnings was $29.8 million. Transfers of international cash and cash equivalents to the U.S. will require the company to pay withholding or other taxes on a portion of the amount transferred. At June 30, 2025, the company maintained cash balances in various operating accounts in excess of federally insured limits. The company monitors this risk by evaluating the creditworthiness of the financial institutions.

During the six months ended June 30, 2025, cash used for operations was $282.9 million compared to cash provided by operations of $26.5 million during the six months ended June 30, 2024, primarily driven by cash contributions to the company's defined benefit pension plans, including a discretionary contribution of $250 million to its U.S. defined benefit pension plans, and changes in working capital.

Cash used for investing activities during the six months ended June 30, 2025 was $10.0 million compared to cash used for investing activities of $46.8 million during the six months ended June 30, 2024. Net proceeds of foreign exchange forward contracts were $30.5 million for the six months ended June 30, 2025 compared with net purchases of $5.6 million in the prior-year period. Proceeds from foreign exchange forward contracts and purchases of foreign exchange forward contracts represent derivative financial instruments used to reduce the company’s currency exposure to market risks from changes in foreign currency exchange rates. In the current period, the investment in marketable software was $23.6 million compared with $25.7 million in the prior-year period and capital additions of properties and other assets were $16.8 million compared with $15.4 million in