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Shareholder's Equity of Xerox (Tables)
 9 Months Ended
Sep. 30, 2021
Shareholder's Equity of Xerox
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 June 30, 2021$189 $2,214 $(159)$6,308 $(3,265)$5,287 $8 $5,295 
Comprehensive income (loss), net— — — 90 (70)20 (1)19 
Cash dividends declared - common(3)
— — — (46)— (46)— (46)
Cash dividends declared - preferred(4)
— — — (4)— (4)— (4)
Stock option and incentive plans, net— 14 — — — 14 — 14 
Payments to acquire treasury stock, including fees— — (87)— — (87)— (87)
Cancellation of treasury stock(7)(152)159 — — — — — 
Other— 4 — — — 4 — 4 
Balance at September 30, 2021
$182 $2,080 $(87)$6,348 $(3,335)$5,188 $7 $5,195 
Common
Stock(1)
Additional
Paid-in
Capital
Treasury Stock
Retained
Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon- controlling Interests
Total
Equity
Balance at June 30, 2020$213 $2,722 $— $6,223 $(3,681)$5,477 $4 $5,481 
Comprehensive income, net— — — 90 88 178 — 178 
Cash dividends declared - common(3)
— — — (51)— (51)— (51)
Cash dividends declared - preferred(4)
— — — (4)— (4)— (4)
Stock option and incentive plans, net1 (3)— — — (2)— (2)
Payments to acquire treasury stock, including fees— — (150)— — (150)— (150)
Balance at September 30, 2020
$214 $2,719 $(150)$6,258 $(3,593)$5,448 $4 $5,452 
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— — — 220 (3)217 (1)216 
Cash dividends declared - common(3)
— — — (142)— (142)— (142)
Cash dividends declared - preferred(4)
— — — (11)— (11)— (11)
Stock option and incentive plans, net1 30 — — — 31 — 31 
Payments to acquire treasury stock, including fees— — (500)— — (500)— (500)
Cancellation of treasury stock(17)(396)413 — — — — — 
Investment from noncontrolling interests(5)
— 1 — — — 1 4 5 
Balance at September 30, 2021
$182 $2,080 $(87)$6,348 $(3,335)$5,188 $7 $5,195 
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, net— — — 115 53 168 — 168 
Cash dividends declared - common(3)
— — — (158)— (158)— (158)
Cash dividends declared - preferred(4)
— — — (11)— (11)— (11)
Stock option and incentive plans, net1 11 — — — 12 — 12 
Payments to acquire treasury stock, including fees— — (150)— — (150)— (150)
Cancellation of treasury stock(2)(74)76 — — — — — 
Distributions to noncontrolling interests— — — — — — (3)(3)
Balance at September 30, 2020
$214 $2,719 $(150)$6,258 $(3,593)$5,448 $4 $5,452 
_____________
(1)Common Stock has a par value of $1 per share.
(2)Refer to Note 18 - Other Comprehensive (Loss) Income for the components of AOCL.
(3)Cash dividends declared on common stock for the three and nine months ended September 30, 2021 and 2020 were $0.25 per share, respectively, and $0.75 per share, respectively.
(4)Cash dividends declared on preferred stock for the three and nine months ended September 30, 2021 and 2020 were $20.00 per share, respectively, and $60.00 per share, respectively.
(5)Refer to Note 5 - Acquisitions and Investments for additional information regarding this noncontrolling investment.
XEROX CORPORATION  
Shareholder's 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 June 30, 2021(2)
$3,413 $5,404 $(3,265)$5,552 $8 $5,560 
Comprehensive income (loss), net— 90 (70)20 (1)19 
Dividends declared to parent— (215)— (215)— (215)
Transfers from parent96 — — 96 — 96 
Balance at September 30, 2021
$3,509 $5,279 $(3,335)$5,453 $7 $5,460 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at June 30, 2020$3,515 $5,925 $(3,681)$5,759 $4 $5,763 
Comprehensive income, net— 90 88 178 — 178 
Dividends declared to parent— (55)— (55)— (55)
Capital contributions from parent(3)
1,494 — — 1,494 — 1,494 
Transfers to parent(150)— — (150)— (150)
Balance at September 30, 2020
$4,859 $5,960 $(3,593)$7,226 $4 $7,230 
Additional
Paid-in
Capital
Retained
Earnings
AOCL(1)
Xerox
Shareholder's
Equity
Non-
controlling
Interests
Total
Equity
Balance at December 31, 2020(2)
$4,888 $5,833 $(3,332)$7,389 $4 $7,393 
Comprehensive income (loss), net— 220 (3)217 (1)216 
Dividends declared to parent— (774)— (774)— (774)
Intercompany loan capitalization(4)
(1,494)— — (1,494)— (1,494)
Transfers from parent114 — — 114 — 114 
Investment from noncontrolling interests(5)
1 — — 1 4 5 
Balance at September 30, 2021
$3,509 $5,279 $(3,335)$5,453 $7 $5,460 
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, net— 115 53 168 — 168 
Dividends declared to parent— (402)— (402)— (402)
Capital contributions from parent(3)
1,494 — — 1,494 — 1,494 
Transfers from parent99 — — 99 — 99 
Distributions to noncontrolling interests— — — — (3)(3)
Balance at September 30, 2020
$4,859 $5,960 $(3,593)$7,226 $4 $7,230 
_____________
(1)Refer to Note 18 - Other Comprehensive (Loss) Income for the components of AOCL.
(2)Amounts adjusted to reflect the transfer of CareAR Holdings, LLC from Xerox Holdings Corporation to Xerox Corporation. Refer to Note 1 - Basis of Presentation for additional information regarding the transfer of ownership.
(3)Primarily represents the contribution of aggregate net debt proceeds received from Senior Note offerings in the third quarter 2020 from Xerox Holdings to Xerox. Refer to Note 12 - Debt for additional information regarding the Senior Note offerings.
(4)Refer to Note 12 - Debt for information regarding capitalization of balance to Intercompany Loan with Xerox Holdings Corporation.
(5)Refer to Note 5 - Acquisitions and Investments for additional information regarding this investment from noncontrolling interests.