Investment in Affiliates, at Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Total equity in net income of unconsolidated affiliates

Our equity in net income of our unconsolidated affiliates was as follows:

	Year Ended December 31,
	2020		2019		2018
Fuji Xerox(1)	$	—	$	147	$	25
Other	4		8		8
Total Equity in net income of unconsolidated affiliates	$	4	$	155	$	33

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(1)Equity in net income for Fuji Xerox is reported in Income from discontinued operations, net of tax for 2019 and 2018. The equity in net income for Fuji Xerox in 2019 is through the date of sale.

Summarized financial information of Fuji Xerox

Summarized financial information for Fuji Xerox is as follows:

	Through Date of Sale		Year Ended December 31, 2018
Summary of Operations
Revenues	$	7,667	$	9,161
Costs and expenses	6,814		8,880
Income before income taxes	853		281
Income tax expense	258		160
Net Income	595		121
Less: Net income - noncontrolling interests	3		2
Net Income - Fuji Xerox	$	592	$	119

Balance Sheet	At Date of Sale		December 31, 2018
Assets
Current assets	$	4,876	$	4,179
Long-term assets	3,964		4,034
Total Assets	$	8,840	$	8,213
Liabilities and Equity
Short-term debt	$	49	$	130
Other current liabilities	1,932		1,827
Long-term debt	16		24
Other long-term liabilities	514		395
Noncontrolling interests	18		30
Fuji Xerox shareholders' equity	6,311		5,807
Total Liabilities and Equity	$	8,840	$	8,213

Exchange rates used to translate results of equity investments in affiliates

Yen/U.S. Dollar exchange rates used to translate are as follows:

Financial Statement	Exchange Basis	2019	2018
Summary of Operations	Weighted average rate	109.03	110.28
Balance Sheet	Year-end rate	108.83	110.26

Transactions with Fuji Xerox

Transactions with Fuji Xerox were as follows:

	Year Ended December 31,
	2020		2019		2018
Royalty revenue earned	$	88	$	99	$	96
Inventory purchases from Fuji Xerox	1,077		1,337		1,501
Inventory sales to Fuji Xerox	25		33		43
R&D payments received from Fuji Xerox	1		—		1
R&D payments paid to Fuji Xerox	5		4		8