Unisys Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>Unisys Corp has filed its 2023 annual report on Form 10-K, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

UNISYS CORP (UIS) filed a Annual Report (10-K) with the SEC on February 26, 2024. Unisys Corp filed its 2023 Form 10-K on February 26, 2024. The filing covers the fiscal year ending December 31, 2023. Unisys Corp is classified under SIC code 7373 for Computer Integrated Systems Design. The company was formerly known as Burroughs Corp /DE/. The filing includes financial data for fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking UNISYS CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Unisys Corp's financial health, operational performance, and strategic direction for the past fiscal year, which is crucial for investors and stakeholders to assess the company's current standing and future prospects. As a key regulatory filing, the 10-K offers detailed insights into the company's financial statements, risk factors, and management discussion, enabling a thorough understanding of its business environment and potential challenges.

Risk Assessment

Risk Level: medium — UNISYS CORP shows moderate risk based on this filing. The company's financial performance and strategic positioning in the competitive technology services market present medium-level risks, as indicated by the need for detailed financial reporting and the company's historical data spanning multiple years.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Unisys Corp's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-26 — Filing Date (Date of submission)
• 145 — Public Document Count (Number of documents in the filing)
• 7373 — SIC Code (Industry classification)

Key Players & Entities

• UNISYS CORP (company) — Filer name
• UIS (company) — Ticker symbol
• 2024-02-26 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 7373 (other) — Standard Industrial Classification
• DE (other) — State of incorporation
• BURROUGHS CORP /DE/ (company) — Former company name
• 2159864011 (other) — Business phone number

FAQ

Industry Context

Unisys Corp operates in the Computer Integrated Systems Design industry, providing technology services and solutions.

Regulatory Implications

The filing is a 10-K, an annual report required by the U.S. Securities and Exchange Commission (SEC) for public companies.

What Investors Should Do

1. Review Unisys Corp's detailed financial statements for FY 2023.
2. Analyze the risk factors section for potential business challenges.
3. Compare current year performance with historical data from previous filings.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-26: Filing Date — Date Unisys Corp submitted its 10-K filing.

Year-Over-Year Comparison

This filing is the 2023 annual report, following previous filings which would include prior year financial data and disclosures.

Filing Documents

• uis-20231231.htm (10-K) — 2656KB
• ex103010-k2023.htm (EX-10.30) — 25KB
• ex2110-k2023.htm (EX-21) — 2KB
• ex23110-k2023gtconsent.htm (EX-23.1) — 2KB
• ex23210-k2023pwcconsent.htm (EX-23.2) — 2KB
• ex2410-k2023.htm (EX-24) — 13KB
• ex31110-k2023.htm (EX-31.1) — 8KB
• ex31210-k2023.htm (EX-31.2) — 8KB
• ex32110-k2023.htm (EX-32.1) — 4KB
• ex32210-k2023.htm (EX-32.2) — 4KB
• ex9710-k2023.htm (EX-97) — 31KB
• image2.jpg (GRAPHIC) — 2KB
• image_0.jpg (GRAPHIC) — 6KB
• uis-20231231_g1.jpg (GRAPHIC) — 100KB
• 0000746838-24-000005.txt (&nbsp;) — 17062KB
• uis-20231231.xsd (EX-101.SCH) — 91KB
• uis-20231231_cal.xml (EX-101.CAL) — 159KB
• uis-20231231_def.xml (EX-101.DEF) — 485KB
• uis-20231231_lab.xml (EX-101.LAB) — 1219KB
• uis-20231231_pre.xml (EX-101.PRE) — 855KB
• uis-20231231_htm.xml (XML) — 3567KB

Business 5

Item 1. Business 5 Information About Our Executive Officers 12

Risk Factors 14

Item 1A. Risk Factors 14

Unresolved Staff Comments 23

Item 1B. Unresolved Staff Comments 23 Item 1C. Cybersecurity 23

Properties 25

Item 2. Properties 25

Legal Proceedings 25

Item 3. Legal Proceedings 25

Mine Safety Disclosures 25

Item 4. Mine Safety Disclosures 25 Part II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26

Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures about Market Risk 36

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 36

Financial Statements and Supplementary Data 37

Item 8. Financial Statements and Supplementary Data 37

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 84

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 84

Controls and Procedures 84

Item 9A. Controls and Procedures 84

Other Information 85

Item 9B. Other Information 85

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 85

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 85 Part III

Directors, Executive Officers and Corporate Governance 86

Item 10. Directors, Executive Officers and Corporate Governance 86

Executive Compensation 86

Item 11. Executive Compensation 86

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 86

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 86

Certain Relationships and Related Transactions, and Director Independence 86

Item 13. Certain Relationships and Related Transactions, and Director Independence 86

Principal Accountant Fees and Services 86

Item 14. Principal Accountant Fees and Services 86 Part IV

Exhibits and Financial Statement Schedules 87

Item 15. Exhibits and Financial Statement Schedules 87

Form 10-K Summary 90

Item 16. Form 10-K Summary 90 Signatures 91 3 Information Concerning Forward-Looking Statements Certain statements contained in this Annual Report on Form 10-K, including, without limitation, statements as to management expectations, assumptions and beliefs presented in Part I, Item 1. "Business," Part I, Item 3. "Legal Proceedings," Part II, Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations," Part II, Item 7A. "Quantitative and Qualitative Disclosures About Market Risk," and in the notes to the financial statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "estimates," "expects," "projects," "may," "will," "intends," "plans," "believes," "should" and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management's current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect on us. There can be no assurance that future developments will be in accordance with management's expectations, assumptions or beliefs, or that the effect of future developments on us will be those anticipated by management. Because actual results may differ materially from those expressed or implied by these forward-looking statements, we caution readers not to place undue reliance on these statements. Any forward-looking statement speaks only as of the date on which that statement is made. The company assumes no obligation to update any forward-looking statement to reflect events or circumstances that occur after the date on which the statement is made. The factors that could cause actual results to differ materially from our expectations, assumptions and beliefs, include, but are not limited to those discus

BUSINESS

ITEM 1. BUSINESS General Unisys Corporation, a Delaware corporation (Unisys, we, our, or the company), is a global information technology (IT) solutions company that powers breakthroughs for the world's leading organizations. Our clients rely on us to help solve many of their toughest business and technology challenges in highly complex, regulated and heterogeneous environments. Our solutions and services are provided through global delivery capabilities, which allows us to execute large-scale, rapid technology migration and modernization projects. From our origins dating back to 1873 through the formation of Unisys in 1986, we have built a legacy of innovation and a reputation of trust. In recent decades, enterprise and government interactions with customers, suppliers, employees and citizens have shifted increasingly to digital channels. Cloud computing, artificial intelligence (AI), machine learning and quantum computing have pushed the required pace of innovation and led to a proliferation of data. At the same time, organizations face rising costs and complexity of managing IT infrastructure, data, security and compliance while integrating new technologies. We have a long track record of helping clients navigate technological change and architecting innovative solutions that simplify and accelerate digital transformation. Our Market The markets in which we operate are broad and rapidly evolving, encompassing a wide range of technologies, services and solutions aimed at helping organizations leverage technology to improve their operations and achieve their business objectives. Organizations across the globe are harnessing technology to reimagine their business models and create competitive advantages. In addition to technical proficiency, our clients look to us for industry-specific expertise to help maximize the impact of their technology investments. We believe our portfolio of solutions is aligned with the markets we serve and the secular trends shaping

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View this 10-K filing on SEC EDGAR