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Shareholder's Equity of Xerox
 3 Months Ended
Mar. 31, 2022
Stockholders' Equity Note [Abstract]  
Shareholder's 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’
Equity
Non-controlling
Interests
Total
Equity
Balance at December 31, 2021$168 $1,802 $(177)$5,631 $(2,988)$4,436 $7 $4,443 
Comprehensive loss, net— — — (56)(44)(100)(1)(101)
Cash dividends declared - common(3)
— — — (39)— (39)— (39)
Cash dividends declared - preferred(4)
— — — (4)— (4)— (4)
Stock option and incentive plans, net— 4 — — — 4 — 4 
Payments to acquire treasury stock, including fees— — (113)— — (113)— (113)
Cancellation of treasury stock(12)(246)258 — — — — — 
Distributions to noncontrolling interests— — — — — — (1)(1)
Balance at March 31, 2022
$156 $1,560 $(32)$5,532 $(3,032)$4,184 $5 $4,189 
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, net1 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 
_____________
(1)Common Stock has a par value of $1 per share.
(2)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.
(3)Cash dividends declared on common stock for the three months ended March 31, 2022 and 2021 were $0.25 per share, respectively.
(4)Cash dividends declared on preferred stock for the three months ended March 31, 2022 and 2021 were $20.00 per share, respectively.
Common Stock and Treasury Stock
The following is a summary of the changes in Common and Treasury stock shares:
Common Stock SharesTreasury Stock Shares
Balance at December 31, 2021168,069 8,675 
Stock based compensation plans, net630 — 
Acquisition of Treasury stock— 5,174 
Cancellation of Treasury stock(12,341)(12,341)
Balance at March 31, 2022156,358 1,508 
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 EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2021$3,202 $4,476 $(2,988)$4,690 $7 $4,697 
Comprehensive loss, net— (56)(44)(100)(1)(101)
Dividends declared to parent— (549)— (549)— (549)
Transfers from parent390 — — 390 — 390 
Distributions to noncontrolling interests— — — — (1)(1)
Balance at March 31, 2022
$3,592 $3,871 $(3,032)$4,431 $5 $4,436 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2020$4,888 $5,834 $(3,332)$7,390 $4 $7,394 
Comprehensive income (loss), net— 39 (3)36 — 36 
Dividends declared to parent— (201)— (201)— (201)
Intercompany loan capitalization(1,494)— — (1,494)— (1,494)
Transfers to parent(34)— — (34)— (34)
Balance at March 31, 2021$3,360 $5,672 $(3,335)$5,697 $4 $5,701 
_____________
(1)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.