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Consolidated Statements of Income (Loss)
$ in Millions
12 Months Ended
Dec. 31, 2017
USD ($)
$ / shares
Dec. 31, 2016
USD ($)
$ / shares
Dec. 31, 2015
USD ($)
$ / shares
Revenues      
Sales $ 4,073 $ 4,319 $ 4,674
Services, maintenance and rentals 5,898 6,127 6,445
Financing 294 325 346
Total Revenues 10,265 10,771 11,465
Costs and Expenses      
Cost of sales 2,491 2,657 2,922
Cost of services, maintenance and rentals 3,580 3,725 3,831
Cost of financing 133 128 130
Research, development and engineering expenses 446 476 511
Selling, administrative and general expenses 2,631 2,695 2,865
Restructuring and related costs 220 264 27
Amortization of intangible assets 53 58 60
Other expenses, net 141 200 195
Total Costs and Expenses 9,695 10,203 10,541
Income Before Income Taxes and Equity Income 570 568 924
Income tax expense 481 62 193
Equity in net income of unconsolidated affiliates(1) [1] 115 127 109
Income from Continuing Operations 204 633 840
Income (loss) from discontinued operations, net of tax 3 (1,093) (374)
Net Income (Loss) 207 (460) 466
Less: Net income attributable to noncontrolling interests 12 11 18
Net Income (Loss) Attributable to Xerox 195 (471) 448
Net income from continuing operations $ 192 $ 622 $ 822
Basic Earnings (Loss) per Share(2):      
Continuing Operations (in dollars per share) | $ / shares $ 0.70 $ 2.36 [2] $ 3.00 [2]
Discontinued operations (in dollars per share) | $ / shares 0.01 (4.31) [2] (1.41) [2]
Total Basic Earnings (Loss) per Share | $ / shares 0.71 (1.95) [2] 1.59 [2]
Diluted Earnings (Loss) per Share(2):      
Continuing Operations (in dollars per share) | $ / shares 0.70 2.33 [2] 2.97 [2]
Discontinued operations (in dollars per share) | $ / shares 0.01 (4.26) [2] (1.39) [2]
Total Diluted Earnings (Loss) per Share | $ / shares $ 0.71 $ (1.93) [2] $ 1.58 [2]
[1] Equity in net income of unconsolidated affiliates has been revised for all applicable prior periods presented throughout this document. Refer to Note 2 - Correction of Fuji Xerox Misstatement in Prior Period Financial Statements for additional information on this revision.
[2] Reflects our one-for-four reverse stock split that became effective on June 14, 2017. Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies for further information.