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Shareholders' Equity of Xerox
 6 Months Ended
Jun. 30, 2021
Shareholders' Equity of Xerox 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’ EquityNon-controlling Interests
Total
Equity
Balance at March 31, 2021$199 $2,456 $(162)$6,267 $(3,335)$5,425 $4 $5,429 
Comprehensive income, net— — — 91 70 161 — 161 
Cash dividends declared - common(3)
— — — (47)— (47)— (47)
Cash dividends declared - preferred(4)
— — — (3)— (3)— (3)
Stock option and incentive plans, net— 5 — — — 5 — 5 
Payments to acquire treasury stock, including fees— — (251)— — (251)— (251)
Cancellation of treasury stock(10)(244)254 — — — — — 
Investment from noncontrolling interests(5)
— 1 — — — 1 4 5 
Other— (4)— — — (4)— (4)
Balance at June 30, 2021
$189 $2,214 $(159)$6,308 $(3,265)$5,287 $8 $5,295 
Common
Stock(1)
Additional
Paid-in
Capital
Treasury Stock
Retained
Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon- controlling Interests
Total
Equity
Balance at March 31, 2020$213 $2,712 $— $6,252 $(3,784)$5,393 $7 $5,400 
Comprehensive income, net— — — 27 103 130 — 130 
Cash dividends declared - common(3)
— — — (53)— (53)— (53)
Cash dividends declared - preferred(4)
— — — (3)— (3)— (3)
Stock option and incentive plans, net— 10 — — — 10 — 10 
Distributions to noncontrolling interests— — — — — — (3)(3)
Balance at June 30, 2020
$213 $2,722 $— $6,223 $(3,681)$5,477 $4 $5,481 
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, net— — — 130 67 197 — 197 
Cash dividends declared - common(3)
— — — (96)— (96)— (96)
Cash dividends declared - preferred(4)
— — — (7)— (7)— (7)
Stock option and incentive plans, net1 16 — — — 17 — 17 
Payments to acquire treasury stock, including fees— — (413)— — (413)— (413)
Cancellation of treasury stock(10)(244)254 — — — — — 
Investment from noncontrolling interests(5)
— 1 — — — 1 4 5 
Other— (4)— — — (4)— (4)
Balance at June 30, 2021
$189 $2,214 $(159)$6,308 $(3,265)$5,287 $8 $5,295 
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 income (loss), net— — — 25 (35)(10)— (10)
Cash dividends declared - common(3)
— — — (107)— (107)— (107)
Cash dividends declared - preferred(4)
— — — (7)— (7)— (7)
Stock option and incentive plans, net— 14 — — — 14 — 14 
Cancellation of treasury stock(2)(74)76 — — — — — 
Distributions to noncontrolling interests— — — — — — (3)(3)
Balance at June 30, 2020
$213 $2,722 $— $6,223 $(3,681)$5,477 $4 $5,481 
_____________
(1)Common Stock has a par value of $1 per share.
(2)Refer to Note 18 - Other Comprehensive Income (Loss) for the components of AOCL.
(3)Cash dividends declared on common stock for the three and six months ended June 30, 2021 and 2020 were $0.25 per share, respectively, and $0.50 per share, respectively.
(4)Cash dividends declared on preferred stock for the three and six months ended June 30, 2021 and 2020 were $20.00 per share, respectively, and $40.00 per share, respectively.
(5)Refer to Note 5 - Acquisitions and Investments for additional information regarding this noncontrolling investment.
Treasury Stock
The following is a summary of the purchases of Common Stock during 2021:
SharesAmount
Balance at December 31, 2020— $— 
Purchases(1)
17,067 413 
Cancellations(10,426)(254)
Balance at June 30, 2021
6,641 $159 
_____________
(1)Includes associated fees.
XEROX CORPORATION  
Shareholders' Equity of Xerox Shareholder's Equity of Xerox
The shareholder's equity information presented below reflects the consolidated activity of Xerox.
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's Equity
Non-
controlling
Interests
Total
Equity
Balance at March 31, 2021$3,351 $5,674 $(3,335)$5,690 $4 $5,694 
Comprehensive income, net— 96 70 166 — 166 
Dividends declared to parent— (358)— (358)— (358)
Transfers from parent52 — — 52 — 52 
Investment from noncontrolling interests(2)
1 — — 1 4 5 
Balance at June 30, 2021
$3,404 $5,412 $(3,265)$5,551 $8 $5,559 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at March 31, 2020$3,504 $5,955 $(3,784)$5,675 $7 $5,682 
Comprehensive income, net— 27 103 130 — 130 
Dividends declared to parent— (57)— (57)— (57)
Transfers from parent 11 — — 11 — 11 
Distributions to noncontrolling interests— — — — (3)(3)
Balance at June 30, 2020
$3,515 $5,925 $(3,681)$5,759 $4 $5,763 
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, net— 137 67 204 — 204 
Dividends declared to parent— (559)— (559)— (559)
Intercompany loan capitalization(3)
(1,494)— — (1,494)— (1,494)
Transfers from parent18 — — 18 — 18 
Investment from noncontrolling interests(2)
1 — — 1 4 5 
Balance at June 30, 2021
$3,404 $5,412 $(3,265)$5,551 $8 $5,559 
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 income (loss), net— 25 (35)(10)— (10)
Dividends declared to parent— (347)— (347)— (347)
Transfers from parent249 — — 249 — 249 
Distributions to noncontrolling interests— — — — (3)(3)
Balance at June 30, 2020
$3,515 $5,925 $(3,681)$5,759 $4 $5,763 
_____________
(1)Refer to Note 18 - Other Comprehensive Income (Loss) for the components of AOCL.
(2)Refer to Note 5 - Acquisitions and Investments for additional information regarding this noncontrolling investment.
(3)Refer to Note 12 - Debt for information regarding capitalization of balance to Intercompany Loan with Xerox Holdings Corporation.