Company: UIS
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000746838-25-000020
Chunk: 7

Company: UNISYS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 7
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.0 million, respectively. 

For the six months ended June 30, 2025, the company reported an operating profit of $35.4 million compared with an operating profit of $41.3 million for the prior-year period. The decrease was primarily driven by lower gross profit, partially offset by lower selling, general and administrative expense as discussed above.

Interest expense for the six months ended June 30, 2025 was $16.4 million compared with $15.8 million for the six months ended June 30, 2024. 

Other (expense), net was expense of $39.0 million for the six months ended June 30, 2025 compared with expense of $151.5 million for the six months ended June 30, 2024. Other (expense), net for the six months ended June 30, 2025 included a loss on debt extinguishment of $6.8 million related to the repurchase, satisfaction and discharge of the 2027 Notes. Other (expense), net for the six months ended June 30, 2024 included $132.3 million of a U.S. pension plan settlement loss, partially offset by a net gain of approximately $14.9 million related to a favorable judgment received in a Brazilian services tax matter. See Note 5 of the Notes to Consolidated Financial Statements for details of other (expense), net.

Subsequent to June 30, 2025, the company ceased its use of foreign currency forward contracts previously used to reduce its exposure to market risks from changes in foreign currency exchange rates.

The loss before income taxes for the six months ended June 30, 2025 was $20.0 million compared with a loss of $126.0 million for the six months ended June 30, 2024. The loss for the six months ended June 30, 2025 included a loss on debt extinguishment of $6.8 million related to the repurchase, satisfaction and discharge of the 2027 Notes. The loss for the six months ended June 30, 2024 included $132.3 million of a U.S. pension plan settlement loss.

The provision for income taxes was $30.6 million for the six months ended June 30, 2025 compared with a provision of $35.8 million for the six months ended June 30, 2024. The change in the tax provision was driven by the geographic distribution of income. The effective tax rate for the