NCR has also further deployed its loaded ticket solution. The innovative system will allow fans to preload their match tickets or memberships cards with a monetary value that can be quickly and effectively redeemed for merchandise, food and beverages at service outlets throughout the stadium. Suncorp Stadium, the premier sports and outdoor concert venue in Queensland, Australia, has deployed NCR's loaded ticket solution in its 52,500-seat stadium while Metricom Stadium has rolled out the system at its 27,500-capacity stadium in Gold Coast, Australia.

In Emerging Industries, NCR continued to advance its self-service technologies across its key verticals. In the Telecom & Technology vertical, in the fourth quarter NCR launched Managed IT Domain Services, an innovative managed service for telecom carriers and technology manufacturers (OEMs) that enables support for remote monitoring and management of enterprise customers' IT domains through cloud-based IT infrastructures. The total service supports applications, cloud, network/WAN, security, storage and virtualization with more than 3,000 products from many leading networking and IT vendors that can be managed.

During the fourth quarter, NCR's global services business continued to expand its global footprint. NCR signed a three-year agreement with SoloHealth to provide on-site repair services for thousands of high-tech, self-service consumer healthcare kiosks set to be installed at retailers nationwide during the first-half of 2013. NCR Services also continued to receive noteworthy third-party recognition. NCR was ranked the global market share leader in retail industry product support for 2011 based on product support revenue by Gartner (Source: Gartner Market Share Analysis: IT Services, Worldwide, 2011, April 26, 2012).

Fourth Quarter 2012 Financial Highlights

Loss from operations was $7 million in the fourth quarter of 2012, which included $164 million of pension expense, $11 million of acquisition-related costs, $9 million of acquisition-related amortization of intangibles and $4 million of legal costs related to the previously-disclosed OFAC and FCPA investigations. The pension expense of $164 million included a one-time settlement charge of $119 million related to the voluntary lump sum payment offered to certain participants in the Company's U.S. qualified pension plan. This compares to $102 million of income from operations in the fourth quarter of 2011, which included $56 million of pension expense, $6 million of acquisition-related costs and $9 million of acquisition-related amortization of intangible assets. Excluding these items, non-GAAP income from operations (2) was $181 million in the fourth quarter of 2012 compared to $173 million in the fourth quarter of 2011.

Net cash provided by operating activities was $100 million during the fourth quarter of 2012 compared to net cash provided by operating activities of $274 million in the prior-year period. Net capital expenditures of $49 million in the fourth quarter of 2012 increased from $35 million in the fourth quarter of 2011. Free cash flow (net cash from operations and discontinued operations, less capital expenditures for property, plant and equipment, and additions to capitalized software) (3) was $22 million in the fourth quarter of 2012, compared to $229 million in the fourth quarter of 2011. Both cash provided by operating activities and free cash flow generated in the fourth quarter of 2012 were negatively impacted by a $100 million discretionary contribution to the U.S. qualified pension plan. Excluding the discretionary contribution, free cash flow was $122 million in the fourth quarter of 2012 compared to free cash flow of $229 million in the fourth quarter of 2011. The decrease was primarily driven by the timing of working capital improvements.

Discontinued operations from operating activities resulted in $29 million of cash outflow in the fourth quarter of 2012 compared to $10 million of cash outflow in the fourth quarter of 2011. The change was primarily driven by increased remediation payments related to the Fox River environmental matter.

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