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 | ||||||||||||
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Total fixed charges | $ | 180 | $ | 136 | $ | 281 | $ | 275 | ||||||||
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Earnings | ||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 10 | $ | 5 | $ | (42 | ) | $ | (419 | ) | ||||||
Fixed charges per above | 180 | 136 | 281 | 275 | ||||||||||||
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Total earnings | $ | 190 | $ | 141 | $ | 239 | $ | (144 | ) | |||||||
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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 | ||||||||||||
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Total fixed charges | $ | 85 | $ | 77 | $ | 179 | $ | 157 | ||||||||
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Earnings | ||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 10 | $ | 5 | $ | (42 | ) | $ | (419 | ) | ||||||
Fixed charges per above | 85 | 77 | 179 | 157 | ||||||||||||
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Total earnings | $ | 95 | $ | 82 | $ | 137 | $ | (262 | ) | |||||||
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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. |