Form 11-K Unisys Corp.
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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, 2010

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 CORPORATION 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

 

 

 


Table of Contents

REQUIRED INFORMATION

Unisys Corporation Savings Plan

Financial Statements and Supplemental Schedule

Years ended December 31, 2010 and 2009

(With Report of Independent Registered Public Accounting Firm Thereon)

TABLE OF CONTENTS

 

Report of Independent Registered Public Accounting Firm

     3   

Financial Statements:

  

Statements of Net Assets Available for Benefits – December 31, 2010 and 2009

     4   

Statements of Changes in Assets Available for Benefits – Years ended December 31, 2010 and 2009

     5   

Notes to Financial Statements

     6   

Supplemental Schedule:

  

Schedule H, Line 4i - Schedule of Assets (Held at End of Year) – December 31, 2010

     14   

Exhibit Index

     17   


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Report of Independent Registered Public Accounting Firm

The Plan Administrator

Unisys Corporation Savings Plan:

We have audited the accompanying statements of net assets available for benefits of the Unisys Corporation Savings Plan (the Plan) as of December 31, 2010 and 2009, 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 also 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, 2010 and 2009, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

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, 2010 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, Pennsylvania

June 27, 2011

 

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UNISYS CORPORATION SAVINGS PLAN

Statements of Net Assets Available for Benefits

December 31, 2010 and 2009

(In thousands)

 

     2010     2009  

Investments (at fair value):

    

Mutual Funds:

    

Equity

   $ 688,491     $ 757,805  

Balanced

     368,130       369,276  

Bonds

     116,906       131,756  

Money Market

     124,728       147,777  

Common Collective Trusts:

    

Equity

     15,204       15,742  

Debt

     15,268       18,071  

Unisys Common Stock Funds

     59,556       109,714  

Unisys Interest Income Fund

     256,275       285,872  

Notes Receivable from Participants

     9,214       11,020  
                

Net assets available for benefits before adjustment to contract value

     1,653,772       1,847,033  

Adjustment from fair value to contract value for fully benefit-responsive investment contracts

     (4,685     (491
                

Net assets available for benefits

   $ 1,649,087     $ 1,846,542  
                

See accompanying notes to financial statements.

 

4


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UNISYS CORPORATION SAVINGS PLAN

Statements of Changes in Net Assets Available for Benefits

Years ended December 31, 2010 and 2009

(In thousands)

 

     2010     2009  

Additions to net assets attributed to:

    

Investment income:

    

Interest and dividend income

   $ 27,748     $ 31,673  

Net appreciation in fair value of investments

     122,607       405,391  
                

Total investment income

     150,355       437,064  
                

Employee Contributions

     48,496       62,794  
                

Total additions

     198,851       499,858  
                

Deductions from net assets attributed to:

    

Benefits paid to participants

     396,210       210,473  

Administrative and other expenses

     96       124  
                

Total deductions

     396,306       210,597  
                

Net (decrease) increase

     (197,455     289,261  

Net assets available for benefits:

    

Beginning of year

     1,846,542       1,557,281  
                

End of year

   $ 1,649,087     $ 1,846,542  
                

See accompanying notes to financial statements.

 

5


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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

(1) Plan Description

The Unisys Corporation 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, the summary plan description and subsequent summaries of material modifications, 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 eligible rollover plans as defined in the Code. Effective January 1, 2009, the Company elected to suspend the company match. Employees were still eligible to make unmatched pretax and after-tax contributions. Effective January 1, 2011, the Company match was reinstated at a rate equal to 50% of the first 6% of eligible compensation deferred by the participant on a pretax basis (subject to Code limits).

 

  (b) Investment Options

Participants may elect to have their current contributions and existing account balances invested in certain investment options offered by the Unisys Corporation Savings Plan. 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.

 

  (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

Plan participants who were actively employed on January 1, 2000 or later are immediately vested in their account balances at all times.

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

  (e) Notes Receivable from Participants

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. Notes Receivable outstanding at December 31, 2010 bear interest ranging from 4.25% to 10.50% per annum. As of December 31, 2010, note maturity dates ranged from January 2011 to November 2025.

In September 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2010-25, Plan Accounting – Defined Contribution Pension Plans (ASU 962), relating to reporting loans to participants by defined contribution plans. This standard requires that participant loans be classified as notes receivable from participants, which are segregated from plan investments and measured at the unpaid principal balance plus any accrued but unpaid interest. This standard must be applied retrospectively to all prior periods presented and was effective for fiscal years ending after December 15, 2010. The adoption of this standard did not have a material effect on the Plan’s financial position or changes in net assets available for Plan benefits.

 

  (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 roll over 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, 2010, 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.

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

  (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 pools are based on quoted redemption values on the last business day of the plan year. Shares of Unisys Corporation common stock are valued at the closing market price on the last day of the plan year.

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 present 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 that 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, 2010 and 2009 ranged from 0.21% to 1.98% and 0.26% to 2.04% per annum, 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 reset monthly or quarterly. The average yield on the contracts was 1.78% and 2.51% per annum for 2010 and 2009, 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.

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

  (d) Recent Accounting Pronouncements

In January 2010, the FASB issued an 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 applicable 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 adoption of this standard did not have a material effect on the Plan’s fair value disclosures.

 

(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, Commingled Bond Funds

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.

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

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, 2010 (in thousands):

 

     Fair value      Level 1      Level 2      Level 3  

Mutual Funds:

           

Equity

   $ 688,491       $ 688,491       $ —           —     

Balanced

     368,130         368,130         —           —     

Bonds

     116,906         116,906         —           —     

Money Market

     124,728         124,728         —           —     

Common Collective Trusts:

           

Equity

     15,204         —           15,204         —     

Debt

     15,268         —           15,268         —     

Unisys Common Stock Funds

     59,556         59,556         —           —     

Unisys Interest Income Fund

     256,275         —           256,275         —     
                                   
   $ 1,644,558       $ 1,357,811       $ 286,747         —     
                                   

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         —     
                                   

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

(4) Investments

The Plan’s investments at December 31, 2010 and 2009 were held in trust with Fidelity Management Trust Company.

During 2010 and 2009, 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:

 

     2010     2009  
     (In thousands)  

Mutual Funds

   $ 152,940      $ 302,445   

Common Collective Trusts

     3,432        5,343   

Unisys Common Stock Funds

     (33,765     97,603   
                
   $  122,607      $ 405,391   
                

Investments that represent 5% or more of fair value of the Plan’s assets are as follows:

 

     December 31  
     2010      2009  
     (In thousands)  

Unisys Interest Income Fund (stated at contract value)

   $ 251,590       $ 285,381   

Fidelity Magellan Fund

     114,377         120,387   

Fidelity Asset Manager Fund

     102,967         113,364   

Fidelity Contra Fund

     101,427         98,299   

Fidelity Asset Manager Growth Fund

     99,779         108,612   

Fidelity Institutional Money Market Fund

     86,152         110,393   

Unisys Common Stock Fund

     58,169         107,345   

 

(5) Tax Status of the Plan

The Plan has received a determination letter from the Internal Revenue Service (the IRS) 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 IRS, the Plan was amended and restated. On January 31, 2011, the Plan filed for a new IRS determination letter.

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

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

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, 2010, the Plan held 53,385 and 2,226,857 shares of Unisys Common Stock in the Unisys Common Stock Fund and Unisys Stock Fund, respectively. 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. These transactions qualify as party-in-interest transactions and are exempt from the prohibited transaction rules.

 

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UNISYS CORPORATION SAVINGS PLAN

Notes to Financial Statements

December 31, 2010 and 2009

 

(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  
     2010      2009  
     (In thousands)  

Net assets available for benefits per the financial statements

   $ 1,649,087       $ 1,846,542   

Adjustment to fair value from contract value for fully benefit-responsive investment contracts

     4,685         491   
                 

Net assets available for benefits per the Form 5500

   $ 1,653,772       $ 1,847,033   
                 

The following is a reconciliation of investment income for the year ended December 31, 2010, per the financial statements to the Form 5500 (in thousands):

 

Net investment income per the financial statements

   $  150,355   

Adjustment to fair value from contract value for fully benefit-responsive investment contracts

     4,685   

Reversal of prior year adjustment to fair value from contract value for fully benefit-responsive investment contracts

     (491
        

Investment income per the Form 5500

   $ 154,549   
        

 

(9) Subsequent Events Evaluation

Effective January 1, 2011, the board of directors elected to reinstate the company match at a rate equal to 50% of the first 6% of eligible compensation deferred by the participant on a pretax basis (subject to Code limits). On January 13, 2011, the number of investment options (funds) offered under the Plan changed from 73 to 24 funds. Some of the investment options previously offered through the Plan continued, some were eliminated, and new ones were added. Any money in investment options that continued to be offered in the new investment line-up remained in those options. Any money in investment options no longer available after January 12, 2011 was automatically transitioned (mapped) to one of the Fidelity Freedom Funds, based upon the participant’s date of birth. After January 13, 2011, participants could move their money to any of the available funds. On January 31, 2011, the Plan filed for a new IRS determination letter.

Management has evaluated the need for disclosure and/or adjustments resulting from subsequent events from the balance sheet date through June 27, 2011, the date at which the financial statements were available to be issued. The evaluation determined that there were no other subsequent events that necessitated disclosure and/or adjustments.

 

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UNISYS CORPORATION SAVINGS PLAN

EIN: 38-0387840 Plan: 004

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

December 31, 2010

 

Identity of issuer, borrower,

lessor or similar party

  

Description of investment

including maturity date,

number of shares, rate of

interest,

par or no par, maturity

value

   Cost**      Current
value
 

*  Fidelity Funds:

        

Fidelity Fund

   Registered Investment Company    $                        $ 7,932,520  

Puritan Fund

   Registered Investment Company         11,772,680  

Trend Fund

   Registered Investment Company         2,999,715  

GNMA Fund

   Registered Investment Company         10,484,499  

Magellan Fund

   Registered Investment Company         114,377,403  

Contra Fund

   Registered Investment Company         101,427,436  

Equity Income Fund

   Registered Investment Company         13,952,744  

Growth Company Fund

   Registered Investment Company         20,775,876  

Growth & Income Portfolio

   Registered Investment Company         10,432,851  

Capital & Income Fund

   Registered Investment Company         18,750,015  

Value Fund

   Registered Investment Company         30,874,791  

Mortgage Securities Fund

   Registered Investment Company         1,567,691  

Government Securities Fund

   Registered Investment Company         20,706,440  

Independence Fund

   Registered Investment Company         9,722,649  

Over-The-Counter Portfolio Fund

   Registered Investment Company         10,302,127  

Overseas Fund

   Registered Investment Company         4,388,004  

Europe Fund

   Registered Investment Company         4,744,444  

Pacific Fund

   Registered Investment Company         6,780,063  

Real Estate Investment Portfolio Fund

   Registered Investment Company         13,290,033  

Balanced Fund

   Registered Investment Company         28,728,460  

International Growth & Income Fund

   Registered Investment Company         10,247,526  

Capital Appreciation Fund

   Registered Investment Company         9,175,397  

Convertible Securities Fund

   Registered Investment Company         8,712,248  

Canada Fund

   Registered Investment Company         22,513,777  

Utilities Fund

   Registered Investment Company         7,477,678  

Blue Chip Fund

   Registered Investment Company         31,899,562  

Asset Manager Fund

   Registered Investment Company         102,967,448  

Disciplined Equity Fund

   Registered Investment Company         3,120,838  

Low-Priced Fund

   Registered Investment Company         34,310,426  

Worldwide Fund

   Registered Investment Company         4,184,316  

Equity Income II Fund

   Registered Investment Company         14,784,398  

Stock Selector Fund

   Registered Investment Company         4,312,518  

Asset Manager Growth Fund

   Registered Investment Company         99,779,184  

Emerging Markets Fund

   Registered Investment Company         15,135,254  

Aggressive Growth Fund

   Registered Investment Company         11,014,447  

Diversified International Fund

   Registered Investment Company         22,481,902  

Asset Manager Income Fund

   Registered Investment Company         22,588,494  

Dividend Growth Fund

   Registered Investment Company         17,353,700  

New Markets Income Fund

   Registered Investment Company         19,335,349  

Export & Multinational Fund

   Registered Investment Company         7,793,726  

Global Balanced Fund

   Registered Investment Company         3,635,043  

Aggressive International Fund

   Registered Investment Company         1,989,604  

Small Capital Stock Fund

   Registered Investment Company         11,995,784  

Mid-Capital Stock Fund

   Registered Investment Company         20,977,965  

Large-Capital Stock Fund

   Registered Investment Company         4,663,635  

Discovery Fund

   Registered Investment Company         2,146,940  

Europe Capital Appreciation Stock Fund

   Registered Investment Company         3,106,354  

 

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Asset Manager Aggressive Fund

   Registered Investment Company       2,088,882

Latin America Fund

   Registered Investment Company       29,275,845

Japan Fund

   Registered Investment Company       2,343,387

Southeast Asia Fund

   Registered Investment Company       11,912,217

Strategic Income Fund

   Registered Investment Company       13,617,278

Freedom Income Fund

   Registered Investment Company       7,791,693

Freedom 2000 Fund

   Registered Investment Company       1,611,869

Freedom 2010 Fund

   Registered Investment Company       15,030,822

Freedom 2020 Fund

   Registered Investment Company       32,847,819

Freedom 2030 Fund

   Registered Investment Company       22,667,808

Spartan Total Market Index Fund

   Registered Investment Company       9,424,172

Spartan Extended Market Index Fund

   Registered Investment Company       13,994,435

Spartan International Market Index Fund

   Registered Investment Company       3,953,863

*  Fidelity Funds:

        

Fifty Fund

   Registered Investment Company       4,900,128

U.S. Bond Index Fund

   Registered Investment Company       20,783,892

Institutional Short-Intermediate Government Fund

   Registered Investment Company       4,554,010

Inflation Protected Bond Fund

   Registered Investment Company       7,107,130

Freedom 2040 Fund

   Registered Investment Company       7,907,537
          
         1,173,526,741
          

*  Fidelity Institutional Funds:

        

Institutional Money Market Fund

   Registered Investment Company       86,151,949

*  Fidelity Money Market Funds:

        

Retirement Money Market Portfolio Fund

   Registered Investment Company       1,760,808

Retirement Gov’t. Money Market Portfolio Fund

   Registered Investment Company       36,815,623
          
         38,576,431
          

*  Fidelity U.S. Equity Index Commingled

        

Pool

   Commingled Pool       15,203,757

FMTC Short Duration Pool

   Commingled Pool       2,847,394

FMTC Broad Market Duration Pool

   Commingled Pool       5,959,746

FMTC Intermediate Duration Pool

   Commingled Pool       6,460,249
          
         30,471,146
          

Total Fidelity Funds

         1,328,726,267
          

*  Unisys Common Stock Funds:

        

Unisys Common Stock Fund

   53,385 shares of Common Stock Fund    5,294,709    1,386,902

Unisys Stock Fund

   2,226,857 shares of Common Stock Fund    119,956,987    58,168,885
          

Total Unisys Common Stock Funds

         59,555,787
          

*  Unisys Interest Income Fund:

        

Fidelity STIF

   Cash Portfolio; 0.2119%       2,522,642

JPMorgan Chase

   #AUNISYS-2-07; 1.909%       85,919,311

AIG Financial Products

   #944763; 1.984%       40,990,083

Rabobank Nederland

   #UNI040701; 1.984%       63,380,318

State Street

   #107009; 1.859%       63,462,815
          

Total Unisys Interest Income Fund

         256,275,169
          

*  Notes Receivable from Participants

   Interest rates from 4.25% to 10.50% per annum with maturities from 2011 to 2025    —      9,214,354
          

Total assets

         $1,653,771,577
          

 

* Party in interest
** Cost is not applicable for participant-directed investments

See accompanying Report of Independent Registered Public Accounting Firm

 

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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 27, 2011     By:   /s/    SCOTT HURLEY        
        Scott Hurley
        Vice President and
        Corporate Controller

 

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EXHIBIT INDEX

 

Exhibit
Number

  

Description

23    Consent of KPMG LLP, Independent Registered Public Accounting Firm

 

17