XML 55 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Total Revenues $ 9,066 $ 9,662 $ 9,991
Costs and Expenses      
Cost of financing 131 132 133
Research, development and engineering expenses 373 397 424
Selling, administrative and general expenses 2,085 2,379 2,514
Restructuring and related costs 229 157 216
Amortization of intangible assets 45 48 53
Transaction and related costs, net 12 68 9
Other expenses, net 84 271 330
Total Costs and Expenses 8,244 9,113 9,466
Income before Income Taxes and Equity Income 822 549 525
Income tax expense 179 247 468
Equity in net income of unconsolidated affiliates 8 8 13
Income from Continuing Operations 651 310 70
Income from discontinued operations, net of tax 710 64 137
Net Income 1,361 374 207
Less: Income from continuing operations attributable to noncontrolling interests 3 4 4
Less: Income from discontinued operations attributable to noncontrolling interests 5 9 8
Net Income Attributable to Xerox Holdings 1,353 361 195
Income from continuing operations 648 306 66
Income from discontinued operations $ 705 $ 55 $ 129
Basic Earnings per Share:      
Continuing operations (in dollars per share) $ 2.86 $ 1.17 $ 0.20
Discontinued operations (in dollars per share) 3.17 0.23 0.51
Total Basic Earnings per Share 6.03 1.40 0.71
Diluted Earnings per Share:      
Continuing operations (in dollars per share) 2.78 1.16 0.20
Discontinued operations (in dollars per share) 3.02 0.22 0.51
Diluted Earnings per Share $ 5.80 $ 1.38 $ 0.71
Sales      
Revenues      
Total Revenues [1] $ 3,227 $ 3,454 $ 3,412
Costs and Expenses      
Cost of goods and services sold [1] 2,097 2,188 2,133
Services, maintenance and rentals      
Revenues      
Total Revenues [1] 5,595 5,940 6,285
Costs and Expenses      
Cost of goods and services sold [1] 3,188 3,473 3,654
Financing      
Revenues      
Total Revenues 244 268 294
Xerox Corporation      
Revenues      
Total Revenues 9,066 9,662 9,991
Costs and Expenses      
Cost of financing 131 132 133
Research, development and engineering expenses 373 397 424
Selling, administrative and general expenses 2,085 2,379 2,514
Restructuring and related costs 229 157 216
Amortization of intangible assets 45 48 53
Transaction and related costs, net 12 68 9
Other expenses, net 84 271 330
Total Costs and Expenses 8,244 9,113 9,466
Income before Income Taxes and Equity Income 822 549 525
Income tax expense 179 247 468
Equity in net income of unconsolidated affiliates 8 8 13
Income from Continuing Operations 651 310 70
Income from discontinued operations, net of tax 710 64 137
Net Income 1,361 374 207
Less: Income from continuing operations attributable to noncontrolling interests 3 4 4
Less: Income from discontinued operations attributable to noncontrolling interests 5 9 8
Net Income Attributable to Xerox Holdings 1,353 361 195
Income from continuing operations 648 306 66
Income from discontinued operations 705 55 129
Xerox Corporation | Sales      
Revenues      
Total Revenues [2] 3,227 3,454 3,412
Costs and Expenses      
Cost of goods and services sold [2] 2,097 2,188 2,133
Xerox Corporation | Services, maintenance and rentals      
Revenues      
Total Revenues [2] 5,595 5,940 6,285
Costs and Expenses      
Cost of goods and services sold [2] 3,188 3,473 3,654
Xerox Corporation | Financing      
Revenues      
Total Revenues $ 244 $ 268 $ 294
[1]
Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies for additional information.

[2]
Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies for additional information.