Company: UIS
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000746838-25-000030
Chunk: 14

Company: UNISYS CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 14
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duction charges and other costs of $3.0 million. The net charges related to workforce reductions were $2.2 million and were comprised of: (i) a charge of $6.8 million for severance costs and (ii) a credit of $4.6 million for changes in estimates. The company recorded net charges of $0.8 million comprised of a charge of $3.2 million for an asset write-off, a charge of $0.3 million for other expenses related to cost-reduction efforts and a net credit of $2.7 million for net foreign currency gains related to exiting foreign countries.

During the nine months ended September 30, 2024, the company recognized net cost-reduction charges and other costs of $8.5 million. The net charges related to workforce reductions were $7.9 million and were comprised of: (i) a charge of $12.2 million for severance costs and (ii) a credit of $4.3 million for changes in estimates. The company recorded a net charge of $0.6 million comprised of a charge of $1.0 million for net foreign currency losses related to exiting foreign countries and a net credit of $0.4 million for changes in estimates related to other cost-reduction efforts.

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The charges (credits) were recorded in the following statement of income (loss) classifications:

Nine Months Ended September 30,(In millions)20252024Cost of revenue$4.5 $2.8 Selling, general and administrative0.4 3.6 Research and development0.8 1.1 Other (expense), net(2.7)1.0 Total$3.0 $8.5 

Gross profit and gross profit margin were $354.7 million and 25.8% in the nine months ended September 30, 2025, respectively, compared with $410.9 million and 28.1% in the nine months ended September 30, 2024, respectively. The decrease was primarily driven by the decrease in revenue previously discussed.

Ex-L&S gross profit and gross profit margin for the nine months ended September 30, 2025 were $204.1 million and 18.0%, respectively, compared with $215.7 million and 18.2% for the nine months ended September 30, 2024, respectively. 

Selling, general and administrative expense in the nine months ended September