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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Sales $ 933 $ 936
Services, maintenance and rentals 1,431 1,442
Financing 71 76
Total Revenues 2,435 2,454
Costs and Expenses    
Cost of sales 563 565
Cost of services, maintenance and rentals 868 881
Cost of financing 34 33
Research, development and engineering expenses 100 111
Selling, administrative and general expenses 628 634
Restructuring and related costs 28 118
Amortization of intangible assets 12 14
Transaction and related costs 36 0
Other expenses, net 32 114
Total Costs and Expenses 2,301 2,470
Income (loss) before Income Taxes and Equity Income 134 (16)
Income tax expense (benefit) 40 (24)
Equity in net (loss) income of unconsolidated affiliates(1) [1] (68) 40
Income from Continuing Operations 26 48
Loss from discontinued operations, net of tax 0 (6)
Net Income 26 42
Less: Net income attributable to noncontrolling interests 3 2
Net Income Attributable to Xerox 23 40
Net income from continuing operations $ 23 $ 46
Basic Earnings (Loss) per Share:    
Continuing operations (dollars per share) $ 0.08 $ 0.17
Discontinued operations (dollars per share) 0.00 (0.03)
Total Basic Earnings per Share 0.08 0.14
Diluted Earnings (Loss) per Share:    
Continuing operations (dollars per share) 0.08 0.16
Discontinued operations (dollars per share) 0.00 (0.02)
Total Diluted Earnings per Share $ 0.08 $ 0.14
[1] Equity in net income of unconsolidated affiliates has been revised for the prior year period presented throughout this document. Refer to Note 2 - Correction of Fuji Xerox Misstatement in Prior Period Financial Statements for additional information on this revision.