Debt (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Assets and Liabilities Held by SPE

Below are the assets and liabilities held by the consolidated SPEs, which are included in our Condensed Consolidated Balance Sheets.


	March 31, 2022		December 31, 2021
Assets held by SPEs
Billed portion of finance receivables, net	$	31	$	27
Finance receivables, net	402		299
Finance receivables due after one year, net	597		362
Equipment on operating leases, net	7		8
Restricted cash(1)	37		32
Total Assets	$	1,074	$	728
Liabilities held by SPEs
Current portion of long-term debt, net(2)	$	451	$	350
Long term debt, net(2)	432		210
Total Liabilities	$	883	$	560

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(1)Restricted cash is included in Other current assets in our Condensed Consolidated Balance Sheet.

(2)Net of debt issuance costs of $2 and $1 as of March 31, 2022 and December 31, 2021, respectively.

Schedule of Interest Income and Interest Expense Disclosure

Interest expense and income were as follows:


	Three Months Ended March 31,
		2022		2021
Interest expense(1)(2)		$	53	$	52
Interest income(3)		54		56

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(1)Includes Cost of financing as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of (Loss) Income.

(2)Interest expense of Xerox Corporation included intercompany interest expense associated with the Xerox Holdings Corporation / Xerox Corporation Intercompany Loan of $20 and $20 for the three months ended March 31, 2022 and 2021, respectively.

(3)Includes Financing revenue as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of (Loss) Income.