Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019		Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities
Net Income	$ 90	$ 222		$ 115	$ 542
Income from discontinued operations, net of tax	0	(64)		0	(157)
Income from Continuing Operations	90	158		115	385
Adjustments required to reconcile Net income to Cash flows from operating activities
Depreciation and amortization	90	104		272	332
Provisions	23	16		124	58
Net gain on sales of businesses and assets	(28)	(19)		(29)	(20)
Stock-based compensation	8	11		32	41
Restructuring and asset impairment charges	20	8		47	80
Payments for restructurings	(11)	(17)		(63)	(71)
Defined benefit pension cost	9	21		46	89
Contributions to defined benefit pension plans	(33)	(37)		(97)	(107)
(Increase) decrease in accounts receivable and billed portion of finance receivables	(96)	51		332	60
(Increase) decrease in inventories	(49)	15		(274)	31
Increase in equipment on operating leases	(31)	(41)		(86)	(113)
Decrease in finance receivables	31	5		221	124
Decrease (increase) in other current and long-term assets	17	(14)		2	1
Increase (decrease) in accounts payable	90	22		(69)	(24)
Decrease in accrued compensation	(20)	(16)		(149)	(99)
(Decrease) increase in other current and long-term liabilities	(16)	26		(146)	19
Net change in income tax assets and liabilities	10	41		13	30
Net change in derivative assets and liabilities	1	5		(1)	15
Other operating, net	1	9		23	15
Net cash provided by operating activities of continuing operations	106	348		313	846
Net cash provided by operating activities of discontinued operations	0	8		0	49
Net cash provided by operating activities	106	356		313	895
Cash Flows from Investing Activities
Cost of additions to land, buildings, equipment and software	(18)	(17)		(60)	(48)
Proceeds from sales of businesses and assets	27	20		29	21
Acquisitions, net of cash acquired	0	0		(193)	(42)
Other investing, net	0	1		1	1
Net cash provided by (used in) investing activities	9	4		(223)	(68)
Cash Flows from Financing Activities
Net proceeds from short-term debt	1	0		1	0
Proceeds from issuance of long-term debt	1,849	2		1,854	7
Payments on long-term debt	(773)	0		(1,086)	(406)
Dividends	(61)	(61)		(176)	(183)
Payments to acquire treasury stock, including fees	(150)	(68)		(150)	(368)
Other financing, net	(10)	(10)		(19)	(33)
Net cash provided by (used in) financing activities	856	(137)		424	(983)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	12	(20)		(12)	(13)
Increase (decrease) in cash, cash equivalents and restricted cash	983	203		502	(169)
Cash, cash equivalents and restricted cash at beginning of period	2,314	776		2,795	1,148
Cash, Cash Equivalents and Restricted Cash at End of Period	3,297	979	[1]	3,297	979	[1]
XEROX CORPORATION
Cash Flows from Operating Activities
Net Income	101	222		126	542
Income from discontinued operations, net of tax	0	(64)		0	(157)
Income from Continuing Operations	101	158		126	385
Adjustments required to reconcile Net income to Cash flows from operating activities
Depreciation and amortization	90	104		272	332
Provisions	23	16		124	58
Net gain on sales of businesses and assets	(28)	(19)		(29)	(20)
Stock-based compensation	8	11		32	41
Restructuring and asset impairment charges	20	8		47	80
Payments for restructurings	(11)	(17)		(63)	(71)
Defined benefit pension cost	9	21		46	89
Contributions to defined benefit pension plans	(33)	(37)		(97)	(107)
(Increase) decrease in accounts receivable and billed portion of finance receivables	(96)	51		332	60
(Increase) decrease in inventories	(49)	15		(274)	31
Increase in equipment on operating leases	(31)	(41)		(86)	(113)
Decrease in finance receivables	31	5		221	124
Decrease (increase) in other current and long-term assets	17	(14)		2	1
Increase (decrease) in accounts payable	90	22		(69)	(24)
Decrease in accrued compensation	(20)	(16)		(149)	(99)
(Decrease) increase in other current and long-term liabilities	(27)	26		(157)	19
Net change in income tax assets and liabilities	10	41		13	30
Net change in derivative assets and liabilities	1	5		(1)	15
Other operating, net	1	9		23	15
Net cash provided by operating activities of continuing operations	106	348		313	846
Net cash provided by operating activities of discontinued operations	0	8		0	49
Net cash provided by operating activities	106	356		313	895
Cash Flows from Investing Activities
Cost of additions to land, buildings, equipment and software	(18)	(17)		(60)	(48)
Proceeds from sales of businesses and assets	27	20		29	21
Acquisitions, net of cash acquired	0	0		(193)	(42)
Other investing, net	0	1		1	1
Net cash provided by (used in) investing activities	9	4		(223)	(68)
Cash Flows from Financing Activities
Net proceeds from short-term debt	1	0		1	0
Proceeds from issuance of long-term debt	342	2		347	7
Payments on long-term debt	(762)	0		(1,075)	(406)
Dividends	0	(59)		0	(181)
Payments to acquire treasury stock, including fees	0	0		0	(300)
Contributions from parent	1,494	0		1,494	0
Distributions to parent	(218)	(73)		(343)	(73)
Other financing, net	(1)	(7)		0	(30)
Net cash provided by (used in) financing activities	856	(137)		424	(983)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	12	(20)		(12)	(13)
Increase (decrease) in cash, cash equivalents and restricted cash	983	203		502	(169)
Cash, cash equivalents and restricted cash at beginning of period	2,314	776		2,795	1,148
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 3,297	$ 979	[1]	$ 3,297	$ 979	[1]

[1] Balance at September 30, 2019 includes $1 associated with discontinued operations.