Earnings per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings per Share

Earnings per Share

(shares in thousands)

The following table sets forth the computation of basic and diluted earnings per share of common stock of Xerox Holdings:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Basic Earnings per Share
Net Income from Continuing Operations Attributable to Xerox Holdings	$	27	$	141	$	25	$	225
Accrued dividends on preferred stock	(3)		(3)		(7)		(7)
Adjusted Net income from continuing operations available to common shareholders	24		138		18		218
Income from discontinued operations attributable to Xerox Holdings, net of tax	—		40		—		89
Adjusted Net income available to common shareholders	$	24	$	178	$	18	$	307
Weighted average common shares outstanding	212,949		223,606		212,852		226,040
Basic Earnings per Share:
Continuing operations	$	0.11	$	0.62	$	0.08	$	0.97
Discontinued operations	—		0.17		—		0.39
Basic Earnings per Share	$	0.11	$	0.79	$	0.08	$	1.36
Diluted Earnings per Share
Net Income from Continuing Operations Attributable to Xerox Holdings	$	27	$	141	$	25	$	225
Accrued dividends on preferred stock	(3)		—		(7)		(7)
Adjusted Net income from continuing operations available to common shareholders	24		141		18		218
Income from discontinued operations attributable to Xerox Holdings, net of tax	—		40		—		89
Adjusted Net income available to common shareholders	$	24	$	181	$	18	$	307
Weighted average common shares outstanding	212,949		223,606		212,852		226,040
Common shares issuable with respect to:
Stock options	—		65		30		34
Restricted stock and performance shares	2,618		4,866		3,132		4,636
Convertible preferred stock	—		6,742		—		—
Adjusted Weighted average common shares outstanding	215,567		235,279		216,014		230,710
Diluted Earnings per Share:
Continuing operations	$	0.11	$	0.60	$	0.08	$	0.94
Discontinued operations	—		0.17		—		0.38
Diluted Earnings per Share	$	0.11	$	0.77	$	0.08	$	1.32
The following securities were not included in the computation of diluted earnings per share as they were either contingently issuable shares or shares that if included would have been anti-dilutive:
Stock options	845		848		816		879
Restricted stock and performance shares	3,648		2,357		3,134		2,587
Convertible preferred stock	6,742		—		6,742		6,742
Total Anti-Dilutive Securities	11,235		3,205		10,692		10,208
Dividends per Common Share	$	0.25	$	0.25	$	0.50	$	0.50