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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues    
Sales $ 1,021 $ 1,126
Outsourcing, maintenance and rentals 3,177 3,253
Financing 83 90
Total Revenues 4,281 4,469
Costs and Expenses    
Cost of sales 624 674
Cost of outsourcing, maintenance and rentals 2,344 2,368
Cost of financing 33 33
Research, development and engineering expenses 134 141
Selling, administrative and general expenses 882 915
Restructuring and related costs 126 14
Amortization of intangible assets 89 77
Separation costs [1] 8 0
Other expenses, net 57 46
Total Costs and Expenses 4,297 4,268
(Loss) Income before Income Taxes and Equity Income (16) 201
Income tax (benefit) expense (15) 39
Equity in net income of unconsolidated affiliates 37 34
Income from Continuing Operations 36 196
Income from discontinued operations, net of tax 0 34
Net Income 36 230
Less: Net income attributable to noncontrolling interests 2 5
Net income from continuing operations 34 191
Net Income Attributable to Xerox $ 34 $ 225
Basic Earnings per Share:    
Continuing operations (dollars per share) $ 0.03 $ 0.17
Discontinued operations (dollars per share) 0.00 0.03
Total Basic Earnings per Share 0.03 0.20
Diluted Earnings per Share:    
Continuing operations (dollars per share) 0.03 0.16
Discontinued operations (dollars per share) 0.00 0.03
Total Diluted Earnings per Share $ 0.03 $ 0.19
[1] Separation costs are expenses incurred in connection with Xerox's planned separation into two independent, publicly-traded companies. These costs are primarily for third-party investment banking, accounting, legal, consulting and other similar types of services.