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Shareholders' Equity of Xerox Holdings
 9 Months Ended
Sep. 30, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity of Xerox Holdings Shareholders’ Equity of Xerox Holdings
(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 consolidated activity of Xerox Holdings.
 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox Holdings
Shareholders’
Equity
 
Non-controlling
Interests
 
Total
Equity
Balance at June 30, 2019
$
225

 
$
3,124

 
$
(131
)
 
$
5,391

 
$
(3,647
)
 
$
4,962

 
$
30

 
$
4,992

Comprehensive income (loss), net
—

 
—

 
—

 
221

 
(203
)
 
18

 
2

 
20

Cash dividends declared - common(3)
—

 
—

 
—

 
(56
)
 
—

 
(56
)
 
—

 
(56
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(4
)
 
—

 
(4
)
 
—

 
(4
)
Stock option and incentive plans, net
—

 
3

 
—

 
—

 
—

 
3

 
—

 
3

Payments to acquire treasury stock, including fees
—

 
—

 
(68
)
 
—

 
—

 
(68
)
 
—

 
(68
)
Cancellation of treasury stock
(4
)
 
(127
)
 
131

 
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
(1
)
Balance at September 30, 2019
$
221

 
$
3,000

 
$
(68
)
 
$
5,552

 
$
(3,850
)
 
$
4,855

 
$
31

 
$
4,886


 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox Holdings
Shareholders’
Equity
 
Non-
controlling
Interests
 
Total
Equity
Balance at June 30, 2018
$
255

 
$
3,920

 
$
—

 
$
4,974

 
$
(3,772
)
 
$
5,377

 
$
31

 
$
5,408

Comprehensive income, net
—

 
—

 
—

 
89

 
61

 
150

 
4

 
154

Cash dividends declared - common(3)
—

 
—

 
—

 
(62
)
 
—

 
(62
)
 
—

 
(62
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(4
)
 
—

 
(4
)
 
—

 
(4
)
Stock option and incentive plans, net
1

 
10

 
—

 
—

 
—

 
11

 
—

 
11

Payments to acquire treasury stock, including fees
—

 
—

 
(284
)
 
—

 
—

 
(284
)
 
—

 
(284
)
Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(1
)
 
(1
)
Balance at September 30, 2018
$
256

 
$
3,930

 
$
(284
)
 
$
4,997

 
$
(3,711
)
 
$
5,188

 
$
34

 
$
5,222

 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox Holdings
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 (loss), net
—

 
—

 
—

 
535

 
(158
)
 
377

 
8

 
385

Cash dividends declared - common(3)
—

 
—

 
—

 
(171
)
 
—

 
(171
)
 
—

 
(171
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(11
)
 
—

 
(11
)
 
—

 
(11
)
Stock option and incentive plans, net
—

 
23

 
—

 
—

 
—

 
23

 
—

 
23

Payments to acquire treasury stock, including fees
—

 
—

 
(368
)
 
—

 
—

 
(368
)
 
—

 
(368
)
Cancellation of treasury stock
(11
)
 
(344
)
 
355

 
—

 
—

 
—

 
—

 
—

Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(11
)
 
(11
)
Balance at September 30, 2019
$
221

 
$
3,000

 
$
(68
)
 
$
5,552

 
$
(3,850
)
 
$
4,855

 
$
31

 
$
4,886


 
Common
Stock
 
Additional
Paid-in
Capital
 
Treasury Stock
 
Retained
Earnings
 
AOCL(1)
 
Xerox Holdings
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, net
—

 
—

 
—

 
224

 
37

 
261

 
9

 
270

Cash dividends declared - common(3)
—

 
—

 
—

 
(192
)
 
—

 
(192
)
 
—

 
(192
)
Cash dividends declared - preferred(4)
—

 
—

 
—

 
(11
)
 
—

 
(11
)
 
—

 
(11
)
Stock option and incentive plans, net
1

 
37

 
—

 
—

 
—

 
38

 
—

 
38

Payments to acquire treasury stock, including fees
—

 
—

 
(284
)
 
—

 
—

 
(284
)
 
—

 
(284
)
Distributions to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(12
)
 
(12
)
Balance at September 30, 2018
$
256

 
$
3,930

 
$
(284
)
 
$
4,997

 
$
(3,711
)
 
$
5,188

 
$
34

 
$
5,222

_____________________________
(1)
Refer to Note 20 - Other Comprehensive (Loss) Income 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 nine months ended September 30, 2019 and 2018 were $0.25 per share and $0.75 per share, respectively.
(4)
Cash dividends declared on preferred stock for the three and nine months ended September 30, 2019 and 2018 were $20.00 per share and $60.00 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)
 
11,575

 
368

Cancellations
 
(11,313
)
 
(355
)
Balance at September 30, 2019
 
2,329

 
$
68

_____________________________
(1)
Includes associated fees.