EX-12.1 2 d771248dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

SunGard Capital Corp.

Computation of Ratio of Earnings to Fixed Charges (Unaudited)

($ in millions)

 

     Three Months Ended March 31,      Six Months Ended June 30,  
     2013      2014      2013     2014  

Fixed charges

          

Interest expense

   $ 72       $ 68       $ 145      $ 136   

Amortization of debt issuance costs and debt discount

     8         4         24        11   

Portion of rental expense representative of interest

     5         5         10        10   

Undeclared preferred stock dividend of SunGard Capital Corp. II before income taxes (at effective rate)

     95         59         102        118   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total fixed charges

   $ 180       $ 136       $ 281      $ 275   
  

 

 

    

 

 

    

 

 

   

 

 

 

Earnings

          

Income (loss) from continuing operations before income taxes

   $ 10       $ 5       $ (42   $ (419

Fixed charges per above

     180         136         281        275   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total earnings

   $ 190       $ 141       $ 239      $ (144
  

 

 

    

 

 

    

 

 

   

 

 

 

Ratio of earnings to fixed charges

     1.1         1.0                      

 

* Earnings for the six month periods ended June 30, 2013 and 2014 were inadequate to cover fixed charges by $42 million and $419 million, respectively. Earnings for the six months ended June 30, 2014 primarily reflects the pre-tax impact of (i) a $339 million trade name impairment charge, (ii) $12 million of costs for strategic initiatives, and (iii) a $61 million loss on the extinguishment of debt. In periods when income (loss) from continuing operations before income taxes is a loss, the ratio is not meaningful.

SunGard Capital Corp. II

SunGard Data Systems Inc.

Computation of Ratio of Earnings to Fixed Charges (Unaudited)

($ in millions)

 

     Three Months Ended March 31,      Six Months Ended June 30,  
     2013      2014      2013     2014  

Fixed charges

          

Interest expense

   $ 72       $ 68       $ 145      $ 136   

Amortization of debt issuance costs and debt discount

     8         4         24        11   

Portion of rental expense representative of interest

     5         5         10        10   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total fixed charges

   $ 85       $ 77       $ 179      $ 157   
  

 

 

    

 

 

    

 

 

   

 

 

 

Earnings

          

Income (loss) from continuing operations before income taxes

   $ 10       $ 5       $ (42   $ (419

Fixed charges per above

     85         77         179        157   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total earnings

   $ 95       $ 82       $ 137      $ (262
  

 

 

    

 

 

    

 

 

   

 

 

 

Ratio of earnings to fixed charges

     1.1         1.1                      

 

* Earnings for the six month periods ended June 30, 2013 and 2014 were inadequate to cover fixed charges by $42 million and $419 million, respectively. Earnings for the six months ended June 30, 2014 primarily reflects the pre-tax impact of (i) a $339 million trade name impairment charge, (ii) $12 million of costs for strategic initiatives, and (iii) a $61 million loss on the extinguishment of debt. In periods when income (loss) from continuing operations before income taxes is a loss, the ratio is not meaningful.