Investment in Affiliates, at Equity

3 Months Ended

Mar. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investment in Affiliates, at Equity

Investment in Affiliates, at Equity

Our equity in net income of unconsolidated affiliates was as follows:

	Three Months Ended March 31,
	2016		2015
Fuji Xerox	$	33	$	31
Other investments	4		3
Total Equity in Net Income of Unconsolidated Affiliates	$	37	$	34

Fuji Xerox

Equity in net income of Fuji Xerox is affected by certain adjustments required to reflect the deferral of profit associated with intercompany sales. These adjustments may result in recorded equity income that is different from that implied by our 25% ownership interest.

Condensed financial data of Fuji Xerox was as follows:

	Three Months Ended March 31,
	2016		2015
Summary of Operations:
Revenues	$	2,678	$	2,731
Costs and expenses	2,464		2,520
Income before income taxes	214		211
Income tax expense	65		66
Net Income	149		145
Less: Net income – noncontrolling interests	2		2
Net Income – Fuji Xerox	$	147	$	143
Weighted Average Exchange Rate(1)	115.08		119.29

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(1) Represents Yen/U.S. Dollar exchange rate used to translate.