EX-12.1 3 ex121ratioofearningstofixe.htm EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES EX 12.1 Ratio of Earnings to Fixed Charges 2013


Exhibit 12.1

NCR Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

 
Year ended December 31, 2013
 
Year ended December 31, 2012
 
Year ended December 31, 2011
 
Year ended December 31, 2010
 
Year ended December 31, 2009
Earnings
 
 
 
 
 
 
 
 
 
Income before income taxes, non-controlling interest, discontinued operations
$
554

 
$
698

 
$
(164
)
 
$
285

 
$
307

Fixed charges
142

 
76

 
46

 
31

 
38

Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges
(4
)
 
(2
)
 
—

 
(3
)
 
(4
)
Earnings
$
692

 
$
772

 
$
(118
)
 
$
313

 
$
341

Fixed Charges

 

 

 

 

Interest expense
$
103

 
$
42

 
$
13

 
$
2

 
$
10

Portion of rental expense representative of the interest factor (1)
39

 
34

 
33

 
29

 
28

Fixed Charges
$
142

 
$
76

 
$
46

 
$
31

 
$
38

Ratio of earnings to fixed charges *
4.87

 
10.16

 
N/A

 
10.10

 
8.97


*
For the year ended December 31, 2011, fixed charges exceeded earnings by $164 million, resulting in a ratio of less than one.

(1) Interest portion of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.