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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Total Revenues $ 1,465 $ 2,263 $ 3,325 $ 4,443
Costs and Expenses        
Cost of financing 30 33 60 65
Research, development and engineering expenses 76 88 160 180
Selling, administrative and general expenses 426 517 967 1,063
Restructuring and related costs 3 37 44 149
Amortization of intangible assets 10 11 21 26
Transaction and related costs, net 7 4 24 4
Other expenses, net 7 38 30 77
Total Costs and Expenses 1,430 2,073 3,295 4,180
Income before Income Taxes and Equity Income 35 190 30 263
Income tax expense 8 50 7 40
Equity in net income of unconsolidated affiliates 0 2 2 4
Income from Continuing Operations 27 142 25 227
Income from discontinued operations, net of tax 0 42 0 93
Net Income 27 184 25 320
Less: Income from continuing operations attributable to noncontrolling interests 0 1 0 2
Less: Income from discontinued operations attributable to noncontrolling interests 0 2 0 4
Net Income Attributable to Xerox 27 181 25 314
Income from continuing operations 27 141 25 225
Income from discontinued operations 0 40 0 89
XEROX CORPORATION        
Revenues        
Total Revenues 1,465 2,263 3,325 4,443
Costs and Expenses        
Cost of financing 30 33 60 65
Research, development and engineering expenses 76 88 160 180
Selling, administrative and general expenses 426 517 967 1,063
Restructuring and related costs 3 37 44 149
Amortization of intangible assets 10 11 21 26
Transaction and related costs, net 7 4 24 4
Other expenses, net 7 38 30 77
Total Costs and Expenses 1,430 2,073 3,295 4,180
Income before Income Taxes and Equity Income 35 190 30 263
Income tax expense 8 50 7 40
Equity in net income of unconsolidated affiliates 0 2 2 4
Income from Continuing Operations 27 142 25 227
Income from discontinued operations, net of tax 0 42 0 93
Net Income 27 184 25 320
Less: Income from continuing operations attributable to noncontrolling interests 0 1 0 2
Less: Income from discontinued operations attributable to noncontrolling interests 0 2 0 4
Net Income Attributable to Xerox 27 181 25 314
Income from continuing operations 27 141 25 225
Income from discontinued operations 0 40 0 89
Sales        
Revenues        
Total Revenues 460 800 1,025 1,524
Costs and Expenses        
Cost of sales and services 338 539 725 989
Sales | XEROX CORPORATION        
Revenues        
Total Revenues 460 800 1,025 1,524
Costs and Expenses        
Cost of sales and services 338 539 725 989
Services, maintenance and rentals        
Revenues        
Total Revenues 949 1,402 2,185 2,795
Costs and Expenses        
Cost of sales and services 533 806 1,264 1,627
Services, maintenance and rentals | XEROX CORPORATION        
Revenues        
Total Revenues 949 1,402 2,185 2,795
Costs and Expenses        
Cost of sales and services 533 806 1,264 1,627
Financing        
Revenues        
Total Revenues 56 61 115 124
Financing | XEROX CORPORATION        
Revenues        
Total Revenues $ 56 $ 61 $ 115 $ 124