Exhibit 12.1
SunGard Capital Corp.
Computation of Ratio of Earnings to Fixed Charges (Unaudited)
($ in millions)
Three Months Ended March 31, | ||||||||
2013 | 2014 | |||||||
Fixed charges | ||||||||
Interest expense | $ | 74 | $ | 68 | ||||
Amortization of debt issuance costs and debt discount | 16 | 7 | ||||||
Portion of rental expense representative of interest | 5 | 4 | ||||||
Undeclared preferred stock dividend of SunGard Capital Corp. II before income taxes (at effective rate) | 37 | 66 | ||||||
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Total fixed charges | $ | 132 | $ | 145 | ||||
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Earnings | ||||||||
Income (loss) from continuing operations before income taxes | $ | (52 | ) | $ | (424 | ) | ||
Fixed charges per above | 132 | 145 | ||||||
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Total earnings | $ | 80 | $ | (279 | ) | |||
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Ratio of earnings to fixed charges | * | * |
* | For the three month periods ended March 31, 2013 and 2014, fixed charges exceeded earnings by $52 million and $424 million, respectively. Earnings for the three month period ended March 31, 2014 primarily reflects the pre-tax impact of (i) a $339 million trade name impairment charge, (ii) $11 million of costs for strategic initiatives, and (iii) a $61 million loss on the extinguishment of debt. |
SunGard Capital Corp. II
SunGard Data Systems Inc.
Computation of Ratio of Earnings to Fixed Charges (Unaudited)
($ in millions)
Three Months Ended March 31, | ||||||||
2013 | 2014 | |||||||
Fixed charges | ||||||||
Interest expense | $ | 74 | $ | 68 | ||||
Amortization of debt issuance costs and debt discount | 16 | 7 | ||||||
Portion of rental expense representative of interest | 5 | 4 | ||||||
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Total fixed charges | $ | 95 | $ | 79 | ||||
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Earnings | ||||||||
Income (loss) from continuing operations before income taxes | $ | (52 | ) | $ | (424 | ) | ||
Fixed charges per above | 95 | 79 | ||||||
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Total earnings | $ | 43 | $ | (345 | ) | |||
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Ratio of earnings to fixed charges | * | * |
* | For the three month periods ended March 31, 2013 and 2014, fixed charges exceeded earnings by $52 million and $424 million, respectively. Earnings for the three month period ended March 31, 2014 primarily reflects the pre-tax impact of (i) a $339 million trade name impairment charge, (ii) $11 million of costs for strategic initiatives, and (iii) a $61 million loss on the extinguishment of debt. |