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Shareholders' Equity
 6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
(shares in thousands)
For information related to the Reorganization of Xerox and Xerox Holdings, refer to Note 1 - Basis of Presentation - Corporate Reorganization. The shareholders' equity information presented below reflects the activity of Xerox only.

 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox
Shareholders’
Equity
 
Non-controlling
Interests
 
Total
Equity
Balance at March 31, 2019
$
230

 
$
3,282

 
$
(103
)
 
$
5,270

 
$
(3,652
)
 
$
5,027

 
$
36

 
$
5,063

Comprehensive income, net
—

 
—

 
—

 
181

 
5

 
186

 
3

 
189

Cash dividends declared - common(3)
—

 
—

 
—

 
(57
)
 
—

 
(57
)
 
—

 
(57
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(3
)
 
—

 
(3
)
 
—

 
(3
)
Stock option and incentive plans, net
—

 
6

 
—

 
—

 
—

 
6

 
—

 
6

Payments to acquire treasury stock, including fees
—

 
—

 
(197
)
 
—

 
—

 
(197
)
 
—

 
(197
)
Cancellation of treasury stock
(5
)
 
(164
)
 
169

 
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(9
)
 
(9
)
Balance at June 30, 2019
$
225

 
$
3,124

 
$
(131
)
 
$
5,391

 
$
(3,647
)
 
$
4,962

 
$
30

 
$
4,992


 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox
Shareholders’
Equity
 
Non-
controlling
Interests
 
Total
Equity
Balance at March 31, 2018
$
255

 
$
3,908

 
$
—

 
$
4,927

 
$
(3,537
)
 
$
5,553

 
$
29

 
$
5,582

Cumulative effect of change in accounting principle
—

 
—

 
—

 
3

 
—

 
3

 
—

 
3

Comprehensive income (loss), net
—

 
—

 
—

 
112

 
(235
)
 
(123
)
 
2

 
(121
)
Cash dividends declared - common(3)
—

 
—

 
—

 
(65
)
 
—

 
(65
)
 
—

 
(65
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(3
)
 
—

 
(3
)
 
—

 
(3
)
Stock option and incentive plans, net
—

 
12

 
—

 
—

 
—

 
12

 
—

 
12

Balance at June 30, 2018
$
255

 
$
3,920

 
$
—

 
$
4,974

 
$
(3,772
)
 
$
5,377

 
$
31

 
$
5,408



 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox
Shareholders’
Equity
 
Non-controlling
Interests
 
Total
Equity
Balance at December 31, 2018
$
232

 
$
3,321

 
$
(55
)
 
$
5,072

 
$
(3,565
)
 
$
5,005

 
$
34

 
$
5,039

Cumulative effect of change in accounting principle(2)
—

 
—

 
—

 
127

 
(127
)
 
—

 
—

 
—

Comprehensive income, net
—

 
—

 
—

 
314

 
45

 
359

 
6

 
365

Cash dividends declared - common(3)
—

 
—

 
—

 
(115
)
 
—

 
(115
)
 
—

 
(115
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(7
)
 
—

 
(7
)
 
—

 
(7
)
Stock option and incentive plans, net
—

 
20

 
—

 
—

 
—

 
20

 
—

 
20

Payments to acquire treasury stock, including fees
—

 
—

 
(300
)
 
—

 
—

 
(300
)
 
—

 
(300
)
Cancellation of treasury stock
(7
)
 
(217
)
 
224

 
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(10
)
 
(10
)
Balance at June 30, 2019
$
225

 
$
3,124

 
$
(131
)
 
$
5,391

 
$
(3,647
)
 
$
4,962

 
$
30

 
$
4,992


 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox
Shareholders’
Equity
 
Non-
controlling
Interests
 
Total
Equity
Balance at December 31, 2017
$
255

 
$
3,893

 
$
—

 
$
4,856

 
$
(3,748
)
 
$
5,256

 
$
37

 
$
5,293

Cumulative effect of change in accounting principles
—

 
—

 
—

 
120

 
—

 
120

 
—

 
120

Comprehensive income (loss), net
—

 
—

 
—

 
135

 
(24
)
 
111

 
5

 
116

Cash dividends declared - common(3)
—

 
—

 
—

 
(130
)
 
—

 
(130
)
 
—

 
(130
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(7
)
 
—

 
(7
)
 
—

 
(7
)
Stock option and incentive plans, net
—

 
27

 
—

 
—

 
—

 
27

 
—

 
27

Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(11
)
 
(11
)
Balance at June 30, 2018
$
255

 
$
3,920

 
$
—

 
$
4,974

 
$
(3,772
)
 
$
5,377

 
$
31

 
$
5,408

_____________________________
(1)
Refer to Note 19 - Other Comprehensive Income (Loss) for the components of AOCL.
(2)
Refer to Note 2 - Recent Accounting Pronouncements - Income Taxes, for additional information related to the adoption of ASU 2018-02.
(3)
Cash dividends declared on common stock for the three and six months ended June 30, 2019 and 2018 were $0.25 per share and $0.50 per share, respectively.
(4)
Cash dividends declared on preferred stock for the three and six months ended June 30, 2019 and 2018 were $20.00 per share and $40.00 per share, respectively.
Treasury Stock
The following is a summary of the purchases of common stock during 2019:
 
 
Shares
 
Amount
Balance at December 31, 2018
 
2,067

 
$
55

Purchases(1)
 
9,246

 
300

Cancellations
 
(7,348
)
 
(224
)
Balance at June 30, 2019
 
3,965

 
$
131

_____________________________
(1)
Includes associated fees.