XML 25 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Sales $ 4,748 $ 5,288 $ 5,582
Outsourcing, maintenance and rentals 12,951 13,865 13,941
Financing [1] 346 387 483
Total Revenues [1] 18,045 19,540 20,006
Costs and Expenses      
Cost of sales 2,961 3,269 3,550
Cost of outsourcing, maintenance and rentals 9,691 9,885 9,808
Cost of financing 130 140 163
Research, development and engineering expenses 563 577 603
Selling, administrative and general expenses 3,559 3,788 4,073
Restructuring and asset impairment charges 186 128 115
Amortization of intangible assets [2] 310 315 305
Other expenses, net 233 232 146
Total Costs and Expenses 17,633 18,334 18,763
Income Before Income Taxes and Equity Income 412 1,206 1,243
Income tax (benefit) expense (23) 215 253
Equity in net income of unconsolidated affiliates [1] 135 160 169
Income from Continuing Operations 570 1,151 1,159
(Loss) income from discontinued operations, net of tax (78) (115) 20
Net Income 492 1,036 1,179
Less: Net income attributable to noncontrolling interests 18 23 20
Net Income Attributable to Xerox 474 1,013 1,159
Net income from continuing operations $ 552 $ 1,128 $ 1,139
Continuing Operations (in dollars per share) $ 0.50 $ 0.96 $ 0.91
Discontinued operations (in dollars per share) (0.08) (0.10) 0.02
Total Basic Earnings per Share (in dollars per share) 0.42 0.86 0.93
Continuing Operations (in dollars per share) 0.49 0.94 0.89
Discontinued operations (in dollars per share) (0.07) (0.09) 0.02
Total Diluted Earnings per Share (in dollars per share) $ 0.42 $ 0.85 $ 0.91
[1] Asset information on a segment basis is not disclosed as this information is not separately identified and internally reported to our Chief Operating Decision Maker (CODM).
[2] Excludes amounts related to our ITO business, which was reported as a discontinued operation through its date of sale on June 30, 2015. Refer to Note 4 - Divestitures for additional information regarding this sale.