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UIS > SEC Filings for UIS > Form 8-K on 11-May-2009All Recent SEC Filings

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Form 8-K for UNISYS CORP


11-May-2009

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events.

Effective January 1, 2009, the company adopted Statement of Financial Accounting Standards No. 160, "Noncontrolling Interests in Consolidated Financial Statements - an amendment of ARB No. 51" ("SFAS No. 160"). SFAS No. 160 describes a noncontrolling interest, sometimes called a minority interest, as the portion of equity in a subsidiary not attributable, directly or indirectly, to a parent. SFAS No. 160 establishes accounting and reporting standards that require, among other items: (a) the ownership interests in subsidiaries held by parties other than the parent be clearly identified, labeled, and presented in the consolidated statement of financial position within equity, but separate from the parent's equity; (b) the amount of consolidated net income (loss) attributable to the parent and the noncontrolling interests be clearly identified and presented on the face of the consolidated statement of income; and (c) entities provide sufficient disclosures that clearly identify and distinguish between the interests of the parent and the interests of the noncontrolling owners. The presentation and disclosure requirements of SFAS No. 160 are required to be applied retrospectively for all periods presented.

The company's consolidated financial statements for each of the years ended December 31, 2008, 2007 and 2006 along with the Reports of Independent Registered Public Accounting Firms, Management's Discussion and Analysis of Financial Condition and Results of Operations, Quarterly financial information and Five-year summary of selected financial data, which were included in the company's Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission (the "SEC") on March 2, 2009 (the "2008 Form 10-K"), have been revised, in each case, to give effect to the retrospective presentation and disclosure requirements of SFAS No. 160. Such revised information is filed as Exhibit 99.1 to this Current Report on Form 8-K. All other information in the 2008 Form 10-K remains unchanged. This Current Report on Form 8-K does not reflect events or developments that occurred after March 2, 2009, and does not modify or update the disclosures therein in any way, other than as required to reflect the adoption of SFAS No. 160 as described above and set forth in the exhibits hereto, which are incorporated herein by reference. Without limiting the foregoing, this filing does not purport to update the Management's Discussion and Analysis of Financial Condition and Results of Operations contained in the 2008 Form 10-K for any information, uncertainties, transactions, risks, events or trends occurring, or known to management. More current information is contained in the company's Quarterly Report on Form 10-Q for the period ended March 31, 2009 (the "Form 10-Q") and other filings with the SEC. The information in this Current Report on Form 8-K should be read in conjunction with the 2008 Form 10-K, the Form 10-Q and other documents filed by the company with the SEC subsequent to March 2, 2009.



Item 9.01 Financial Statements and Exhibits.

(d) The following exhibits are included in this Report:

Exhibit 23.1     Consent of KPMG LLP

Exhibit 23.2     Consent of Ernst & Young LLP

Exhibit 99.1     Revised consolidated financial statements for the years ended
                 December 31, 2008, 2007 and 2006, Management's Discussion and
                 Analysis of Financial Condition and Results of Operations,
                 Quarterly financial information and Five-year summary of selected
                 financial data


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