What
@tursiops said. It's telling you how long IF you stay at the same depth and IF you continue to breathe the same.
Different manufacturers do things differently.
For Oceanic computers, I think the computer looks at your consumption over the last 90 seconds to determine what your current consumption rate is and then uses that for its calculations.
Also, for Oceanic, the ATR is based on allowing time to get to the surface, including any safety or deco stops. So, if you have your reserve set to 500 psi, and you start your ascent when the ATR gets to 0, then you will arrive at the surface with 500 psi. That is, of course, assuming your breathing stays the same the whole time and that you ascend at precisely 30 feet per minute.
Other computers do ATR differently. I don't remember which brand, but for one that I looked at, when ATR gets to 0, you will be at your reserve pressure at your current depth. I.e. it does not build ascent time into its calculation.
Which means that if your computer displays ATR, you should make sure you read the manual to understand exactly what it is telling you. If it works the second way I described, then you would want to calculate for yourself what tank pressure is where you need to START your ascent and set the computer's reserve setting to that. With the first method I described (i.e. Oceanic), you just need to set the reserve to what you want to END at, on the surface.
And, just to throw it out there, the Perdix AI GTR calculation doesn't work exactly like either of the methods I already described. So, again, if you have AI and you ever look at the ATR/GTR display, read the manual to make sure you know exactly what it is telling you.