Form 11-K
Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 11-K

 

 

(Mark one)

 

x Annual Report pursuant to Section 15(d) of the Securities Exchange Act of 1934 for fiscal year ended December 31, 2008.

OR

 

¨ Transition Report pursuant to Section 15(d) of the Securities Exchange Act of 1934.

Commission File Number 001-00395

 

 

 

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

NCR Savings Plan

 

B. Name and issuer of the securities held pursuant to the plan and the address of its principal executive office:

NCR Corporation

1700 South Patterson Boulevard, Dayton, OH 45479

 

 

 


Table of Contents

NCR Savings Plan

Financial Statements and Supplemental Schedule

December 31, 2008 and 2007


Table of Contents

NCR Savings Plan

Index

December 31, 2008 and 2007

 

 

 

     Page(s)

Report of Independent Registered Public Accounting Firm

   1

Financial Statements:

  

Statements of Net Assets Available for Benefits

   2

Statement of Changes in Net Assets Available for Benefits

   3

Notes to Financial Statements

   4-10

Supplemental Schedule:

  

Schedule H, Line 4i—Schedule of Assets Held (At End of Year)*

   12

 

* Other schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.


Table of Contents

Report of Independent Registered Public Accounting Firm

To the Participants and

Administrator of the NCR Savings Plan

In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the NCR Savings Plan (the “Plan”) at December 31, 2008 and December 31, 2007, and the changes in net assets available for benefits for the year ended December 31, 2008 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule, “Schedule of Assets Held at End of Year,” is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

 

/s/ PricewaterhouseCoopers LLP
Dayton, Ohio
June 26, 2009


Table of Contents

NCR Savings Plan

Statements of Net Assets Available for Benefits

December 31, 2008 and 2007

 

 

 

     December 31,
     2008    2007

Assets

     

Total investments at fair value

   $ 982,204,979    $ 1,510,379,424
             

Contributions receivable:

     

Participants

     433,897      1,331,767

Employer

     96,326      667,190

Other receivables

     519,091      814,357
             

Total assets

     983,254,293      1,513,192,738
             

Liabilities

     

Accounts payable

     780,403      498,913

Accrued expenses

     274,946      335,218
             

Total liabilities

     1,055,349      834,131
             

Net assets available for benefits

   $ 982,198,944    $ 1,512,358,607
             

The accompanying notes are an integral part of these financial statements.

 

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Table of Contents

NCR Savings Plan

Statement of Changes in Net Assets Available for Benefits

Year Ended December 31, 2008

 

 

 

     Year Ended
December 31, 2008
 
  

Investment income (loss):

  

Net depreciation in fair value of investments

   $ (481,796,244

Interest

     1,824,392   

Dividends

     16,865,796   
        

Total investment income (loss)

     (463,106,056
        

Contributions:

  

Participant

     39,266,824   

Employer, net of forfeitures

     19,280,836   
        

Total contributions

     58,547,660   
        

Deductions

  

Benefits paid to participants

     (124,485,018

Administrative expenses

     (1,116,249
        

Total deductions

     (125,601,267
        

Net decrease

     (530,159,663

Net assets available for benefits

  

Beginning of year

     1,512,358,607   
        

End of year

   $ 982,198,944   
        

The accompanying notes are an integral part of these financial statements.

 

3


Table of Contents

NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

1. Description of the Plan

General

The NCR Savings Plan (the “Plan”) is a defined contribution plan established on May 1, 1985 by NCR Corporation (“NCR” or the “Company”) to give the Company’s employees more control over, and participation in, the accumulation of capital for their retirement.

The Plan is designed to qualify as a profit-sharing plan with a qualified cash or deferred arrangement under Section 401(k) of the Internal Revenue Code of 1986, as amended. Also subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Plan covers substantially all U.S. employees of the Company (other than certain categories of part-time, temporary and intern employees) and its domestic subsidiaries, except for employees covered by a collective bargaining agreement.

The terms of the Plan described below are applicable to the majority of participants. A small portion of participants are in sub-plan groups due to the merger of legacy 401(k) plans into the Plan. While terms of participants in the sub-plan groups may vary slightly from the terms described below, the sub-plan group participants have substantially the same benefits and requirements of the other Plan participants.

Contributions and Funding

All eligible employees of the Company may defer a portion of their compensation by making tax-deferred contributions, as well as after-tax contributions, to the Plan. Participants may elect to contribute up to twenty percent of their eligible compensation. The maximum contribution percentage limits vary based upon the participant’s base salary. Annual tax-deferred contributions per participant for the 2008 Plan year was limited to $15,500.

For each dollar contributed by a participant up to a maximum six percent of compensation, the Company funds an additional matching amount. Effective September 1, 2005, the NCR Pension Plan (the “Pension Plan”) was discontinued and benefit accruals under the Pension Plan were frozen except for certain grandfathered employees (e.g. employees age 40 and older who were participants in the Pension Plan at August 31, 2004 and made an election to continue to receive benefit accruals under the Pension Plan). Prior to January 1, 2007, for grandfathered Pension Plan participants, the Company’s matching contributions were seventy-five percent of the first three percent of pay contributed by the participant and fifty percent of the next three percent of pay. For all other Plan participants (including non-grandfathered Pension Plan participants), the Company’s matching contributions were one hundred percent of the first four percent of pay contributed by the participant, plus fifty percent of the next two percent of pay.

In September 2006, the Company announced a Plan amendment, effective January 1, 2007, that adjusted the Company matching contribution for all participants to one hundred percent of the first four percent of pay contributed by the participant, plus fifty percent of the next two percent of pay.

Effective June 1, 2002, the Plan was amended in accordance with the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) to allow employees aged 50 and older to elect to make an additional $1,000 catch-up contribution during the 2002 plan year. Catch-up contribution amounts are not eligible for Employer matching contributions and increased by $1,000 each year through 2006. After 2006, the catch-up contribution adjusted for inflation in $500 increments. The maximum catch-up contribution for 2008 was $5,000.

 

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Table of Contents

NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

Participants direct their contributions, as well as the Company’s matching contributions, among various investment strategies, as well as mutual funds, market index funds, and the NCR Unitized Stock Fund, which invests primarily in NCR Common Stock. The investment strategies are comprised of a combination of mutual funds, separately managed accounts and common/collective trusts and are managed to derive returns subject to the associated risk tolerance. The Mutual Fund Window Investments consists of mutual funds (more than 300) which offer a broad range of investment objectives (ranging from conservative to very aggressive and domestic to international) in which participants elect to contribute.

Vesting and Forfeitures

Participants are immediately vested in their contributions plus actual earnings thereon. Company matching contributions vest in increments of one-fifth each year, over a five-year period beginning with the participant’s hire date.

Participants become immediately and fully vested in their account (i) upon attainment of age 65, (ii) upon retirement, (iii) upon termination of employment due to a “reduction in force,” (iv) in the event of death, or (v) in the event of total and permanent disability. Upon termination of employment, participants are entitled to full distribution of their contributions and all vested Company matching contributions; all non-vested Company matching contributions are forfeited. These forfeitures are reallocated and used to reduce future Company matching contributions. During the Plan year, forfeitures used to offset Company matching contributions were immaterial in relation to the Plan taken as a whole.

Participant Accounts

Each participant’s account is credited with the participant’s contributions, and an allocation of Company contributions and Plan earnings. Participants’ accounts are valued on a daily basis. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account balance.

Participants may withdraw any employee tax-deferred contributions during their employment in the case of a “hardship” (as defined by the Plan), and participants may withdraw after-tax employee contributions for any reason. The participants may not withdraw any Company matching contributions or any earnings on Company matching or employee contributions until they terminate employment with the Company.

Participant Loans

Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to $50,000 or 50 percent of their account balance, whichever is less. The loans are collateralized by the balance in the participant’s accounts and bear interest at a fixed rate based on the prime rate (as reported by the Wall Street Journal) in effect on the twentieth business day of the month prior to the month of the transaction. The term of the loan may be between one and five years. Principal and interest is paid ratably through monthly payroll deductions. Upon default, participants are considered to have received a distribution and are subject to income taxes on the distribution amount. Loans at December 31, 2008 bear interest at rates ranging from 5% to 10.5% and are due at various dates through December 31, 2013. Loans are repaid through payable deductions.

Withdrawals and Benefits

Participants may withdraw vested balances upon reaching normal retirement age of 65, or upon a participant’s termination or disability. A participant’s beneficiary shall be eligible to receive a distribution of the participant’s account upon death of the participant. Hardship withdrawals, as defined by the Plan, may be made from all contributions at any time subject to approval by the

 

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Table of Contents

NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

Plan’s Administrator. On termination of service, a participant receives a lump-sum amount equal to the value of the vested portion of their account if it is less than $1,000. Termination participants with more than $1,000 in vested benefits may elect to receive a lump-sum payment, quarterly installment payments, or leave the vested benefits within the plan until reaching the above noted retirement age, death and/or disability.

Termination of the Plan

The Company currently has no plans to terminate the Plan; however, the Company reserves the right to terminate the Plan at any time by action of the Board of Directors. No amendment or termination of the Plan may adversely affect a participant’s accrued benefits on the date of the amendment or termination. No amendment may change the requirement that the assets of the NCR Savings Plan Trust (the “Trust”) must be used for the exclusive benefit of the participants, the former participants and the beneficiaries.

Upon termination of the Plan, the Company may, at its option, continue the Trust in existence or cause the Trust to be liquidated. If the Trust is liquidated, distributions will be made to the various participants, former participants and beneficiaries in a single lump sum promptly after liquidation is effective. If the Trust is not liquidated, distributions will be made to the various participants when they cease employment. For a complete description of the Plan, participants should refer to the Plan Document.

 

2. Summary of Significant Accounting Policies

Basis of Accounting

The financial statements of the Plan are prepared under the accrual basis of accounting.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and changes therein. Actual results could differ from those estimates.

Risk and Uncertainties

The Plan provides for various investment options in several investment securities and instruments. Investment securities are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in risks in the near term could continue to materially affect participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits.

The Plan invests in securities with contractual cash flows, such as assets backed securities, collateralized mortgage obligations and commercial mortgage backed securities, including securities backed by subprime mortgage loans. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, delinquencies or defaults, or both, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

Investment Valuation and Income Recognition

The Plan’s investments are stated at fair value. Investments in mutual funds are valued at the closing net asset values of the funds on the last day of the Plan fiscal year. Investments in common collective trust funds and managed funds are stated at fair value as determined based on the fair

 

6


Table of Contents

NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

value of the underlying assets. NCR Corporation Common Stock is valued at the last quoted sales price on the New York Stock Exchange on the last business day of the Plan fiscal year. Participant loans are valued at their outstanding balances, which approximate fair value.

Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. Interest is recorded on an accrual basis.

The Plan presents in its statement of changes in net assets available for benefits the net appreciation (depreciation) in fair value of investments, which consists of the realized gains and losses as well as the unrealized appreciation (depreciation) on those investments.

Other Receivables and Accounts Payable

Items represented in other receivables and accounts payable are primarily pending security settlements.

Plan Expenses

All initial and ongoing administrative costs of the Plan are paid by the Company, except for a $50 participant loan application fee. Brokerage fees and commissions are included in the cost of investments when purchased and in determining the net proceeds on sales of investments. Investment management fees are paid from the respective assets of the investment option.

Payments to Withdrawing Participants

The Plan records payments to withdrawing participants at the time of disbursement.

Rollover Contributions

Participant rollover contributions from other defined contribution plans are included as participant contributions in the Statement of Changes in Net Assets Available for Benefits.

 

3. Investments

The following presents investments that represent five percent or more of the Plan’s net assets:

 

     December 31,
     2008    2007

NTGI - QM Collective Daily Aggregate Bond Index Fund,
370,052 and 502,951 shares, respectively

   $ 139,962,766    $ 183,127,611

Pyramis Select International Equity Fund
639,514 and 696,479 shares, respectively

   $ 58,470,735    $ 110,461,531

NTGI - QM Collective Daily S & P 500 Equity Index Fund,
26,477 and 24,978 shares, respectively

   $ 66,930,537    $ 101,222,723

The Plan’s assets were also invested in Fidelity Mutual Fund Window investments, the fair value of which was $494,285,389 and $708,308,954 at December 31, 2008 and 2007, respectively. Within the Fidelity Mutual Fund Window, the aggregate fair value of the following investment funds represent five percent or more of the plan’s net assets:

 

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Table of Contents

NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

     December 31,
     2008    2007

*Fidelity Contrafund
1,050,545 shares

     —      $ 76,805,370
     December 31,
     2008    2007

**Fidelity Retirement Money Market Fund

   $ 72,301,696      —  
 
  * Fidelity Contrafund represented 5% or more of the Plan’s net assets in 2007, but not in 2008.
  ** Fidelity Retirement Money Market Fund represented 5% or more of the Plan’s net assets in 2008, but not in 2007.

During 2008, the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) depreciated in value by $(481,796,244) as follows:

 

     Year Ended
December 31, 2008
 

Mutual funds

   $ (238,920,083

Managed accounts common stock

     (108,107,219

Common collective trust funds

     (109,472,570

Employer common stock

     (25,296,372
        
   $ (481,796,244
        

Fair Value Measurements

As of December 1, 2008 the Plan adopted Financial Accounting Standard No. 157 (“SFAS No. 157”), “Fair Value Measurements.” SFAS 157 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under SFAS No. 157 are described below:

Basis of Fair Value Measurement

 

Level 1   Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2   Quoted prices in markets that are not considered to be active or financial instruments for which all significant inputs are observable, either directly or indirectly;

 

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NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

Level 3   Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The following tables set forth by level within the fair value hierarchy the Plan’s investment assets and investment liabilities at fair value, as of December 31, 2008. As required by SFAS No. 157, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

 

     Investment Assets at Fair Value as of December 2008
     Level 1    Level 2    Level 3    Total

Mutual funds

   $ 494,285,389    $ —      $ —      $ 494,285,389

Collective trusts

        338,600,823      —        338,600,823

Managed accounts common stock

     104,635,766            104,635,766

Employer common stock

     33,491,933            33,491,933

Participant loans

        11,191,068         11,191,068
                           

Total investment assets, at fair value

   $ 632,413,088    $ 349,791,891    $ —      $ 982,204,979
                           

 

4. Related Party Transactions

Related party transactions during the year consisted of loans made to participants and investments in NCR Corporation common stock along with investments in funds offered by Pyramis Global Advisors (“Pyramis”), a wholly owned subsidiary of Fidelity Management and Research Company, and by other affiliates of the Plan trustee, Fidelity Management Trust Company. The Plan’s primary investment manager is Fidelity Investments (“Fidelity”). An affiliate of Fidelity serves as the record keeper for the Plan’s participant data. Another affiliate of Fidelity serves as the trustee of the Plan. The cash receipts and cash disbursements from these investments constitute related party transactions. Related party cash receipts and cash disbursements of the Plan for the Fidelity managed funds totaled $26,474,982 and $53,400,309, respectively, for the year ended December 31, 2008. Purchases and sales of investments managed by Pyramis during the year ended December 31, 2008 totaled $26,912,211 and $48,038,150, respectively. The Company also provides certain administrative, accounting and recordkeeping services to the Plan for which it is not compensated. None of these related party transactions are prohibited transactions as defined under ERISA.

 

5. Tax Status

The Company received its latest favorable determination letter, dated April 24, 2009, from the Internal Revenue Service as to the qualified status of the Plan under Section 401(a) of the Internal Revenue Code (the Code). Therefore, the Company believes that the Plan is qualified and the related Trust is exempt from federal income taxes under Section 501(a) of the Code. Accordingly, income taxes are not provided for in the accompanying financial statements. Participant

 

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Table of Contents

NCR Savings Plan

Notes to Financial Statements

Year Ended December 31, 2008

 

 

 

contributions, except for those contributions which participants elect to be tax-deferred under Section 401(k), are taxable to the participants in the year their contributions are made.

Participants are liable for federal income taxes relative to their Section 401(k) contributions, the Company matching contributions and the earnings of the Plan when the contributions are distributed to them.

 

6. Subsequent Events

Effective on the January 16, 2009 paycheck, NCR reduced to 2% the match on employee contributions and will contribute 50 cents for each dollar contributed, up to the first 4% of eligible pay.

Effective April 29, 2009, the RCS, Inc. 401(k) Profit Sharing Plan (the “RCS Plan”), a wholly owned subsidiary of NCR Corporation, merged into the plan and the RCS Plan ceased to exist. The net assets of the RCS, Inc 401(k) Profit Sharing Plan, with total investments of $6,244,373, were transferred into the Plan April 29, 2009.

 

10


Table of Contents

NCR Savings Plan

Supplemental Schedule

 

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Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value

*

   PYRAMIS AGGRESSIVE EQUITY FUND    Common Collective Trust Fund       $ 33,092,898

*

   PYRAMIS SELECT INTERNATIONAL EQUITY FUND    Common Collective Trust Fund         58,470,735
   NTGI-QM COLLECTIVE DAILY AGGREGATE BOND INDEX FUN    Common Collective Trust Fund         139,962,766
   NTGI-QM COLLECTIVE DAILY EAFE INDEX FUND    Common Collective Trust Fund         14,669,294
   NTGI-QM COLLECTIVE DAILY RUSSELL 2000 INDEX FUND    Common Collective Trust Fund         25,474,593
   NTGI-QM COLLECTIVE DAILY S&P 500 EQUITY INDEX FUND    Common Collective Trust Fund         66,930,537
   Total Mutual Fund Window Investments***    Registered Investment Companies         494,285,389

*

   NCR Common Stock    Common stock         33,491,933
   3COM CORP    Common stock         231,876
   3M CO    Common stock         494,844
   ABB LTD (REG) (SWIT)    Common stock         129,979
   ACE LTD    Common stock         127,008
   ADIDAS AG    Common stock         42,302
   ADVANTA CORP CL B    Common stock         35,112
   AEGEAN MARINE PETROLEUM N    Common stock         934,615
   AERCAP HOLDINGS NV    Common stock         352,016
   AEROVIRONMENT INC    Common stock         246,112
   AES CORP    Common stock         1,839,992
   AETNA INC    Common stock         2,077,650
   AGILENT TECHNOLOGIES INC    Common stock         10,941
   AHOLD NV, KONINKLIJKE    Common stock         290,954
   AIR LIQUIDE SA    Common stock         253,208
   ALASKA AIR GROUP INC    Common stock         146,250
   ALLIANCE HEALTHCARE SVCS    Common stock         62,676
   ALLIS-CHALMER ENERGY INC    Common stock         58,850
   ALLSTATE CORPORATION    Common stock         514,332
   ALON USA ENERGY INC    Common stock         82,350
   AMAG PHARMACEUTICALS INC    Common stock         223,166
   AMAZON.COM INC    Common stock         1,297,384
   AMERICA MOVIL SPON ADR SE    Common stock         278,910
   AMERICAN AXLE & MFG HLDGS    Common stock         57,800
   AMERICAN EXPRESS CO    Common stock         389,550
   AMERICAN FINL GROUP OHIO    Common stock         345,488
   AMERICAN GREETINGS CL A    Common stock         143,073
   AMERICAN PUBLIC EDUCATION    Common stock         175,462
   AMERICAN WOODMARK    Common stock         123,964
   AMERISTAR CASINO    Common stock         232,243
   AMGEN INC    Common stock         1,224,300
   AMKOR TECHNOLOGY INC    Common stock         50,576
   AMPCO-PITTSBURG CORP    Common stock         134,540
   ANTHRACITE CAPITAL INC    Common stock         75,151
   ARCH CAPITAL GROUP LTD    Common stock         84,120
   ARCTIC CAT INC    Common stock         102,506
   ARIBA INC    Common stock         290,332
   ARVINMERITOR INC    Common stock         58,710
   ASTORIA FINANCIAL CORP    Common stock         149,968
   ASTRAZENECA PLC (UK)    Common stock         189,347
   AT&T INC    Common stock         330,600
   AVON PRODUCTS INC    Common stock         370,062
   BAE SYSTEMS PLC    Common stock         223,765
   BANCO ITAU HLDG FINCR SPO    Common stock         262,160
   BANK OF AMERICA CORPORATI    Common stock         217,128
   BARRICK GOLD CORP (USD)    Common stock         367,700
   BCE INC    Common stock         254,047
   BELGACOM SA    Common stock         241,161
   BELO CORP SER A    Common stock         26,052

 

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Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value
   BENCHMARK ELECTRONICS INC    Common stock       157,071
   BIOMARIN PHARMACEUTICAL    Common stock       821,025
   BJ’S RESTAURANTS INC    Common stock       351,220
   BLACK BOX CORPORATION    Common stock       169,780
   BLUEPHOENIX SOLUTIONS LTD    Common stock       120,770
   BLYTH INC    Common stock       113,680
   BNP PARIBAS (FRAN)    Common stock       159,953
   BOB EVANS FARMS INC    Common stock       183,870
   BOEING CO    Common stock       245,353
   BORDERS GROUP INC    Common stock       12,280
   BOWNE & CO INC    Common stock       122,304
   BP PLC    Common stock       394,107
   BRIDGESTONE CORP    Common stock       117,013
   BRITISH AMER TOBACCO PLC    Common stock       460,714
   BUFFALO WILD WINGS INC    Common stock       210,176
   C T S CORP    Common stock       129,485
   CA INC    Common stock       1,178,508
   CACI INTL INC CL A    Common stock       288,576
   CALLAWAY GOLF CO    Common stock       183,013
   CAL-MAINE FOODS INC    Common stock       8,610
   CANADIAN IMP BK OF COMMER    Common stock       230,948
   CAPITAL ONE FIN CORP    Common stock       258,309
   CAPSTEAD MORTGAGE CORP    Common stock       65,697
   CARDIOME PHARMA CORP    Common stock       471,193
   CARPENTER TECHNOLOGY CORP    Common stock       205,400
   CARRIZO OIL & GAS INC    Common stock       261,899
   CATHAY GENERAL BANCORP    Common stock       118,750
   CATO CORP CL A    Common stock       191,770
   CBL & ASSOC PPTYS INC    Common stock       27,950
   CELADON GRP INC    Common stock       270,580
   CENTRAL PACIFIC FIN CORP    Common stock       115,460
   CHECK POINT SOFTWARE TECH    Common stock       282,951
   CHESAPEAKE ENERGY CORP    Common stock       203,742
   CHINA CONSTRUCTION BANK H    Common stock       215,506
   CHINA COSCO HLDGS CO H    Common stock       100,493
   CHINA MOBILE LIMITED    Common stock       284,086
   CISCO SYSTEMS INC    Common stock       1,013,860
   CIT GROUP INC    Common stock       258,780
   CITI (BHATRI) C/WT 1 144A    Common stock       208,069
   CITIGROUP INC    Common stock       834,724
   CITIZENS REPUBLIC BANCORP    Common stock       38,901
   CITY BK LYNNWOOD WASH    Common stock       32,760
   CLEAN HARBORS INC    Common stock       198,250
   CLP HLDGS LTD    Common stock       174,421
   CME GROUP INC    Common stock       83,244
   CNOOC LTD    Common stock       115,090
   COLRUYT NV NPV    Common stock       78,808
   COLUMBIA SPORTSWEAR CO    Common stock       198,072
   COMMONWEALTH BK OF AUSTRA    Common stock       233,884
   COMMVAULT SYSTEMS INC    Common stock       220,715
   CON WAY INC    Common stock       228,760
   CONCUR TECHNOLOGIES INC    Common stock       265,842
   CONOCOPHILLIPS    Common stock       310,800
   CONSOLIDATED GRAPHICS INC    Common stock       122,256
   CONVERGYS CORP    Common stock       290,373
   COPA HOLDINGS SA CL A    Common stock       626,260
   CORN PRODUCTS INTL INC    Common stock       72,125
   CORUS BANKSHARES INC    Common stock       21,312
   CRACKER BARREL OLD CTRY S    Common stock       306,791

 

13


Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value
   CRANE CO    Common stock       218,948
   CRH PLC (DO NOT TRADE)    Common stock       39,888
   CSG SYSTEMS INTL INC    Common stock       291,749
   CSL LIMITED    Common stock       403,440
   CSS INDUSTRIES INC    Common stock       164,982
   CUBIST PHARMACEUTICALS    Common stock       210,482
   DE LA RUE PLC    Common stock       41,713
   DECKERS OUTDOOR CORP    Common stock       229,626
   DEERE & CO    Common stock       264,408
   DEL MONTE FOODS CO    Common stock       236,334
   DELHAIZE GROUP    Common stock       77,638
   DELPHI FIN GROUP CL A    Common stock       162,272
   DELUXE CORP    Common stock       239,360
   DEUTSCHE BOERSE AG    Common stock       189,862
   DEUTSCHE TELEKOM AG (REGD    Common stock       217,096
   DIAGEO PLC    Common stock       165,433
   DURECT CORP    Common stock       565,201
   DYCOM INDUSTRIES INC    Common stock       214,542
   EASTMAN KODAK CO    Common stock       911,330
   EBAY INC    Common stock       1,312,240
   ELECTRONIC ARTS INC    Common stock       514,884
   EMC CORP    Common stock       402,048
   ENERGYSOLUTIONS INC    Common stock       235,543
   ENNIS INC    Common stock       147,742
   ENTERTAINMENT PPTYS TR RE    Common stock       95,360
   ESPRIT HOLDINGS LTD    Common stock       70,803
   ETHAN ALLEN INTERIORS INC    Common stock       113,523
   EV3 INC    Common stock       192,845
   EVERCORE PARTNERS CL A    Common stock       191,722
   EXCO RESOURCES INC    Common stock       810,698
   EXELON CORP    Common stock       44,488
   FANUC LTD    Common stock       41,598
   FBL FIN GROUP INC CL A    Common stock       108,150
   FEDERATED INVS CL B NV    Common stock       162,816
   FIDELITY NATL FINL NEW    Common stock       324,381
   FINANCIAL FEDERAL CORP    Common stock       379,301
   FIRST BANCORP P R    Common stock       112,514
   FIRST FINANCIAL BANCORP    Common stock       280,014
   FIRSTFED FIN CORP. DEL.    Common stock       12,950
   FIRSTMERIT CORP    Common stock       212,077
   FLAGSTAR BANCORP INC    Common stock       24,708
   FOMENTO ECONO MEX(FEMSA)S    Common stock       165,715
   FOOT LOCKER INC    Common stock       111,568
   FRANCE TELECOM SA    Common stock       331,608
   FRESH DEL MONTE PRODUCE    Common stock       186,086
   FTI CONSULTING INC    Common stock       294,888
   FULLER H B CO    Common stock       146,692
   GATX CORP    Common stock       195,111
   GDF SUEZ    Common stock       350,932
   GENCO SHIPPING & TRADING    Common stock       59,200
   GENERAL ELECTRIC CO    Common stock       1,138,860
   GIVAUDAN AG    Common stock       114,439
   GLATFELTER    Common stock       239,940
   GMX RESOURCES INC    Common stock       498,905
   GOLDMAN SACHS GROUP INC    Common stock       303,804
   GOODRICH PETRO CORP    Common stock       208,901
   GOOGLE INC A    Common stock       976,789
   GREEN MTN COFFEE ROASTERS    Common stock       243,810
   GREENHILL & CO INC    Common stock       488,390

 

14


Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value
   GREY WOLF INC (DELIST)    Common stock       302,084
   GRIFFON CORP    Common stock       131,553
   GROUP 1 AUTOMOTIVE INC    Common stock       62,466
   HALOZYME THERAPEUTICS INC    Common stock       214,838
   HANSEN MEDICAL INC    Common stock       180,074
   HARLEYSVILLE GROUP INC    Common stock       399,395
   HARTE-HANKS INC    Common stock       118,560
   HERCULES TECH GROWTH CAP    Common stock       110,088
   HERSHA HOSPITALITY TR (RE    Common stock       88,500
   HEWLETT-PACKARD CO    Common stock       1,052,410
   HOLLY CORP    Common stock       204,176
   HOLOGIC INC    Common stock       409,091
   HONDA MOTOR CO LTD    Common stock       136,199
   HONG KONG ELECTRIC HLDGS    Common stock       161,644
   HONG KONG EXCHS & CLEARIN    Common stock       18,993
   HORACE MANN EDUCATORS    Common stock       119,470
   HRPT PROPERTIES TR REIT    Common stock       209,951
   HSBC HLDGS PLC (UK REG)    Common stock       105,299
   HSBC HOLDINGS PLC (HK)    Common stock       230,237
   HUBBELL INC CL B    Common stock       241,832
   HUNTINGTON BANCSHARES INC    Common stock       184,606
   HUSKY ENERGY INC    Common stock       319,686
   ILLUMINA INC    Common stock       358,709
   IMATION CORP    Common stock       128,915
   IMMUCOR INC    Common stock       268,458
   INDEPENDENT BANK CORP    Common stock       44,712
   INDEVUS PHARMACEUTIC (DEL    Common stock       672,579
   INGLES MARKETS INC-CL A    Common stock       195,249
   INNERWORKINGS INC    Common stock       431,868
   INTEGRA BANK CORP    Common stock       3,151
   INTEGRATED DEVICE TECH    Common stock       231,132
   INTL BUS MACH CORP    Common stock       1,152,992
   INTREPID POTASH INC    Common stock       283,594
   IPC HOLDINGS LTD    Common stock       433,550
   IPC THE HOSPITALIST CO    Common stock       389,126
   IRWIN FINANCIAL CORP    Common stock       33,024
   JACKSON HEWITT TAX SVCS    Common stock       134,934
   JAKKS PACIFIC INC    Common stock       156,788
   JARDEN CORP    Common stock       49,105
   JDA SOFTWARE GRP INC    Common stock       253,409
   JER INVESTORS TRUST INC    Common stock       24,087
   JOURNAL COMM INC A    Common stock       150,185
   JPMORGAN CHASE & CO    Common stock       630,600
   KDDI CORP    Common stock       62,993
   KELLY SERVICES INC CL A    Common stock       247,190
   KEMET CORP    Common stock       14,283
   KINDRED HEALTHCARE INC    Common stock       167,958
   KINETIC CONCEPTS INC    Common stock       72,884
   KNIGHT TRANSPORTATION INC    Common stock       507,458
   KPN (KON) NV    Common stock       413,171
   KT & G CORP    Common stock       200,286
   LEAR CORP    Common stock       25,944
   LENNOX INTERNATIONAL INC    Common stock       113,015
   LIFE TIME FITNESS INC    Common stock       263,053
   LINCARE HOLDINGS INC    Common stock       191,203
   LONZA GROUP AG    Common stock       241,955
   MACK CALI REALTY REIT    Common stock       117,600
   MAN GROUP PLC    Common stock       12,758
   MAXIMUS INC    Common stock       217,682

 

15


Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value
   MEDICAL PPTY TR INC    Common stock       143,868
   MEDICIS PHARMACEUTIC CL A    Common stock       97,300
   MENTOR GRAPHICS CORP    Common stock       46,013
   MERCK & CO INC    Common stock       358,720
   MERIX CORPORATION    Common stock       14,460
   MERRILL LYNCH & CO INC    Common stock       888,132
   MESA AIR GROUP INC    Common stock       11,102
   METHODE ELECTRONICS INC    Common stock       139,518
   METTLER-TOLEDO INTL INC    Common stock       215,680
   MICREL INC    Common stock       253,657
   MICROSEMI CORP    Common stock       219,304
   MICROSOFT CORP    Common stock       365,472
   MITSUBISHI UFJ FINL GRP    Common stock       329,258
   MODINE MANUFACTURING CO    Common stock       43,830
   MONTPELIER RE HLDGS LTD    Common stock       327,405
   MSC INDU DIRECT CO CL A    Common stock       219,139
   MUELLER INDUSTRIES INC    Common stock       175,560
   NACCO INDUSTRIES INC CL A    Common stock       115,971
   NASH-FINCH CO    Common stock       251,384
   NELNET INC CL A    Common stock       264,145
   NESTLE SA (REG)    Common stock       515,516
   NETLOGIC MICROSYSTEMS INC    Common stock       542,040
   NEWMARKET CORP    Common stock       129,167
   NEXEN INC    Common stock       236,237
   NINTENDO CO LTD    Common stock       458,400
   NIPPON TELEGRAPH & TELEPH    Common stock       583,152
   NOKIA OYJ    Common stock       170,440
   NORTHWESTERN CORP    Common stock       237,047
   NOVARTIS AG (REG)    Common stock       80,746
   NOVEN PHARMACEUTICALS INC    Common stock       134,200
   NOVO-NORDISK AS CL B    Common stock       257,330
   NUCOR CORP    Common stock       420,420
   NYSE EURONEXT    Common stock       862,470
   OIL STATES INTL INC    Common stock       84,105
   OLD DOMINION FREIGHT LINE    Common stock       276,318
   OM GROUP INC    Common stock       73,885
   OMNITURE INC    Common stock       312,816
   ORBITAL SCIENCES CORP    Common stock       466,767
   ORIENTAL FIN GROUP INC    Common stock       157,905
   OVERSEAS SHIPHOLDING GROU    Common stock       240,027
   PACER INTERNATIONAL INC    Common stock       193,998
   PACIFIC CAP BANCORP NEW    Common stock       38,824
   PAR PHARMACEUTICALS COS    Common stock       199,809
   PENNEY (J.C.) CO INC    Common stock       510,230
   PENNSYLVANIA RE INVSTMENT    Common stock       52,150
   PEPSICO INC    Common stock       43,816
   PETROBRAS SA SPONS ADR    Common stock       313,472
   PETROHAWK ENERGY CORP    Common stock       899,663
   PHASE FORWARD INC    Common stock       210,161
   PHILIP MORRIS INTL INC    Common stock       539,524
   PINNACLE ENTERTAINMENT    Common stock       659,269
   POLARIS INDUSTRIES INC    Common stock       254,985
   PORTLAND GEN ELECTRIC CO    Common stock       239,481
   POZEN INC    Common stock       418,431
   PRESIDENTIAL LIFE CORP    Common stock       173,075
   PROVIDENT BANCSHARES CORP    Common stock       220,248
   PRUDENTIAL FINANCIAL INC    Common stock       24,208
   PSYCHIATRIC SOLUTIONS INC    Common stock       247,865
   QUAKER CHEMICAL CORP    Common stock       231,945

 

16


Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value
   QUANTUM CORP    Common stock       56,808
   QUICKSILVER RES INC    Common stock       810,563
   RADIOSHACK CORP    Common stock       121,788
   RECKITT BENCKISER GROUP P    Common stock       127,911
   RENAISSANCERE HLDGS LTD    Common stock       257,800
   RF MICRO DEVICES INC    Common stock       53,352
   RICHEMONT CIE FINANCIERE    Common stock       19,143
   RIO TINTO LTD    Common stock       257,509
   RLI CORP    Common stock       67,276
   ROCHE HLDGS GENUSSSCHEINE    Common stock       38,081
   ROGERS COMM CL B NON VTG    Common stock       267,651
   ROYAL BANK OF CANADA    Common stock       367,913
   ROYAL DUTCH SHELL PL CL A    Common stock       446,295
   RPM INTERNATIONAL INC    Common stock       229,917
   RUBY TUESDAY INC    Common stock       51,168
   RYDER SYSTEM INC    Common stock       271,460
   SAFETY INSURANCE GROUP    Common stock       205,524
   SAMSUNG ELECTRONICS CO    Common stock       162,474
   SAPIENT CORPORATION    Common stock       430,818
   SCHOLASTIC CORP    Common stock       100,492
   SCHWEITZER-MAUDUIT INTL    Common stock       272,272
   SEACOR HOLDINGS INC    Common stock       386,570
   SEARS HOLDINGS CORP    Common stock       925,106
   SECURITAS AB SER B    Common stock       216,681
   SECURITY BK CORP    Common stock       25,145
   SELECTIVE INSURANCE GROUP    Common stock       442,549
   SHULMAN A INC    Common stock       197,200
   SINCLAIR BROADCAST G CL A    Common stock       42,470
   SKYWORKS SOLUTIONS INC    Common stock       133,514
   SMART BALANCE INC    Common stock       356,490
   SMITH (AO) CORP    Common stock       345,384
   SOUTH FINANCIAL GROUP INC    Common stock       43,200
   SSBK GOVT STIF FUND    Common stock       187,755
   SSBK STIF FUND    Common stock       1,024,513
   SSBK STIF FUND    Common stock       176,377
   SSBK STIF FUND    Common stock       221,122
   STAGE STORES INC    Common stock       131,175
   STAGECOACH GROUP PLC    Common stock       142,671
   STANCORP FINL GROUP INC    Common stock       208,850
   STATE STREET CORP    Common stock       951,786
   STEELCASE INC CLASS A    Common stock       220,866
   STEPAN CO    Common stock       42,291
   SUEZ ENVIRONNEMENT SA    Common stock       106,700
   SUN HUNG KAI PROPERTIES    Common stock       92,558
   SUNOPTA INC    Common stock       172,783
   SUNSTONE HOTEL INVS INC    Common stock       159,083
   SWEDISH MATCH AB    Common stock       209,850
   SWIFT ENERGY CO    Common stock       114,308
   SWITCH & DATA FACILITIS C    Common stock       221,803
   SYNTHES ACCR INVS (SWIT)    Common stock       56,146
   TAIWAN SEMIC MFG CO SP AD    Common stock       82,950
   TALEO CORP CL A    Common stock       210,212
   TCF FINANCIAL CORPORATION    Common stock       277,298
   TECHNITROL INC    Common stock       39,672
   TELSTRA CORP LTD    Common stock       314,223
   TENNECO INC    Common stock       25,665
   TESCO PLC    Common stock       272,656
   TESORO CORP    Common stock       179,112
   TEVA PHARMACEUTICAL IND A    Common stock       587,466

 

17


Table of Contents

NCR Savings Plan

Schedule H, Line 4i – Schedule of Assets Held (at End of Year)**

December 31, 2008

 

 

 

(a)

  

(b) Identity of Issue, Borrower Lender, or Similar Party

  

(c) Description of Investment
including maturity Date, Rate of

Interest, Collateral, Par on

Maturity Date

   (d)
Cost****
   (e) Current
Value
 
   TEXAS INSTRUMENTS INC    Common stock         848,944   
   TEXAS ROADHOUSE INC CL A    Common stock         320,850   
   TIME WARNER INC (OLD)    Common stock         1,277,620   
   TITAN MACHINERY INC    Common stock         272,947   
   TNS INC    Common stock         22,536   
   TOKYO ELECTRIC POWER CO    Common stock         198,402   
   TOTAL SA (FRAN)    Common stock         268,468   
   TRANS WORLD ENTERTAINMENT    Common stock         47,684   
   TRIMERIS INC    Common stock         51,471   
   TRUSTMARK CORP    Common stock         166,243   
   UAL CORP    Common stock         384,047   
   UBS AG (REGD)    Common stock         217,333   
   UCBH HOLDINGS INC    Common stock         372,208   
   ULTIMATE SOFTWARE GROUP    Common stock         317,798   
   UNDER ARMOUR INC CL A    Common stock         183,616   
   UNILEVER NV CVA (BEARER)    Common stock         177,735   
   UNITED ONLINE INC    Common stock         199,703   
   UNITED OVERSEAS BANK (LOC    Common stock         153,326   
   UNITED RENTALS INC    Common stock         63,110   
   UNITED THERAPEUTICS DEL    Common stock         398,756   
   UNITEDHEALTH GROUP INC    Common stock         2,292,920   
   UNITS, FUND SHARES    Common stock         (7,505
   UNIVERSAL HEALTH SVC CL B    Common stock         60,112   
   VALE DO RIO DOCE (CIA)SPO    Common stock         85,981   
   VISHAY INTERTECHNOLOGY    Common stock         91,998   
   VISTAPRINT LIMITED    Common stock         773,897   
   VITRAN CORP INC CL A    Common stock         174,753   
   VODAFONE GROUP PLC    Common stock         252,934   
   WEBSTER FINANCIAL    Common stock         175,006   
   WERNER ENTERPRISES INC    Common stock         161,262   
   WEST COAST BANCORP OREGON    Common stock         102,804   
   WESTAR ENERGY INC    Common stock         207,151   
   WGL HOLDINGS INC    Common stock         333,438   
   WHITNEY HOLDING CORP    Common stock         113,529   
   WIND RIVER SYSTEMS INC    Common stock         569,703   
   WORTHINGTON INDU INC    Common stock         218,196   
   XYRATEX LTD    Common stock         33,335   
   YAHOO INC    Common stock         1,066,280   
   YARA INTERNATIONAL ASA    Common stock         123,380   
   YRC WORLDWIDE INC    Common stock         34,440   
   ZENITH NATIONAL INSURANCE    Common stock         350,427   
   ZURICH FIN SVCS AG    Common stock         24,683   

*

   Participant loans receivable (a)    Participant loans receivable         11,191,068   
                 
            $ 982,204,979   
                 

 

(a) The participant loan interest rates are between 5.0%—10.50%. The loans are due at various dates through December 31, 2013.
* Party-in-interest
** This schedule represents those assets required to be reported under Department of Labor Section 2520.103-11 and Form 5500 Schedule H, Line 4i.
*** This line item represents the aggregate value of participant-directed mutual fund investments held within the Mutual Fund Window at Fidelity, which is a party-in-interest.
**** Per Department of Labor Section 2520.103-11(d), cost may be omitted as all investments are participant directed.

 

18


Table of Contents

Signatures

NCR Savings Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, NCR Corporation, the administrator of the NCR Savings Plan, has duly caused this annual report to be signed by the undersigned thereunto duly authorized.

 

  NCR Savings Plan
  By:  

/s/ Anthony Massetti

    Anthony Massetti
   

Senior Vice President and Chief

Financial Officer

    NCR Corporation

Date: June 26, 2009

   

 

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Table of Contents

Exhibit Index

 

Exhibit No. 23

   Consent of PricewaterhouseCoopers LLP

 

20