Divestitures

Business Process Outsourcing (BPO)

On December 31, 2016, Xerox completed the Separation of its BPO business through the Distribution of all of the issued and outstanding stock of Conduent to Xerox Corporation stockholders. As a result of the Separation and Distribution, the financial position and results of operations of the BPO business are presented as discontinued operations and, as such, have been excluded from continuing operations for all periods presented. The loss from operations in the first quarter 2017 primarily reflected changes in estimates of separation-related costs.

Summarized financial information for our Discontinued Operations is as follows:



	Three Months Ended March 31,
	2018		2017
Loss from operations	$	—	$	8
Loss on disposal	—		—
Net loss before income taxes	—		(8		)
Income tax benefit	—		2
Loss from discontinued operations, net of tax	$	—	$	(6	)