Shareholders' Equity of Xerox

3 Months Ended

Mar. 31, 2021

Shareholders’ Equity of Xerox Holdings

(shares in thousands)

The shareholders' equity information presented below reflects the consolidated activity of Xerox Holdings.


	Common Stock(1)		Additional Paid-in Capital		Treasury Stock		Retained Earnings		AOCL(2)		Xerox Holdings Shareholders’ Equity		Non-controlling Interests		Total Equity
Balance at December 31, 2020	$	198	$	2,445	$	—	$	6,281	$	(3,332)	$	5,592	$	4	$	5,596

Comprehensive income (loss), net	—		—		—		39		(3)		36		—		36
Cash dividends declared - common(3)	—		—		—		(49)		—		(49)		—		(49)
Cash dividends declared - preferred(4)	—		—		—		(4)		—		(4)		—		(4)


Stock option and incentive plans, net	1		11		—		—		—		12		—		12

Payments to acquire treasury stock, including fees	—		—		(162)		—		—		(162)		—		(162)



Balance at March 31, 2021	$	199	$	2,456	$	(162)	$	6,267	$	(3,335)	$	5,425	$	4	$	5,429


	Common Stock(1)		Additional Paid-in Capital		Treasury Stock		Retained Earnings		AOCL(2)		Xerox Holdings Shareholders’ Equity		Non- controlling Interests		Total Equity
Balance at December 31, 2019	$	215	$	2,782	$	(76)	$	6,312	$	(3,646)	$	5,587	$	7	$	5,594

Comprehensive loss, net	—		—		—		(2)		(138)		(140)		—		(140)
Cash dividends declared - common(3)	—		—		—		(54)		—		(54)		—		(54)
Cash dividends declared - preferred(4)	—		—		—		(4)		—		(4)		—		(4)


Stock option and incentive plans, net	—		4		—		—		—		4		—		4


Cancellation of treasury stock	(2)		(74)		76		—		—		—		—		—


Balance at March 31, 2020	$	213	$	2,712	$	—	$	6,252	$	(3,784)	$	5,393	$	7	$	5,400

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(1)Common Stock has a par value of $1 per share.

(2)Refer to Note 17 - Other Comprehensive Income (Loss) for the components of AOCL.

(3)Cash dividends declared on common stock for the three months ended March 31, 2021 and 2020 were $0.25 per share, respectively.

(4)Cash dividends declared on preferred stock for the three months ended March 31, 2021 and 2020 were $20.00 per share, respectively.

Treasury Stock

The following is a summary of the purchases of common stock during 2021:

_____________

(1)Includes associated fees.

Shareholder's Equity of Xerox

The shareholder's equity information presented below reflects the consolidated activity of Xerox.


	Additional Paid-in Capital		Retained Earnings		AOCL(1)		Xerox Shareholder's Equity		Non-controlling Interests		Total Equity
Balance at December 31, 2020	$	4,879	$	5,834	$	(3,332)	$	7,381	$	4	$	7,385

Comprehensive income (loss), net	—		41		(3)		38		—		38


Dividends declared to parent	—		(201)		—		(201)		—		(201)
Intercompany loan capitalization(2)	(1,494)		—		—		(1,494)		—		(1,494)
Transfers to parent	(34)		—		—		(34)		—		(34)









Balance at March 31, 2021	$	3,351	$	5,674	$	(3,335)	$	5,690	$	4	$	5,694


	Additional Paid-in Capital		Retained Earnings		AOCL(1)		Xerox Shareholder's Equity		Non-controlling Interests		Total Equity
Balance at December 31, 2019	$	3,266	$	6,247	$	(3,646)	$	5,867	$	7	$	5,874

Comprehensive loss, net	—		(2)		(138)		(140)		—		(140)


Dividends declared to parent	—		(290)		—		(290)		—		(290)
Transfers from parent	238		—		—		238		—		238








Balance at March 31, 2020	$	3,504	$	5,955	$	(3,784)	$	5,675	$	7	$	5,682

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(1)Refer to Note 17 - Other Comprehensive Income (Loss) for the components of AOCL.

(2)Refer to Note 11- Debt for information regarding capitalization of balance to Intercompany Loan with Xerox Holdings Corporation.