Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs. 

	March 31, 2022		December 31, 2021
Assets
Foreign exchange contracts - forwards	$	4	$	4
Interest rate cap	3		1
Deferred compensation plan investments in mutual funds	17		18
Total	$	24	$	23
Liabilities
Foreign exchange contracts - forwards	$	32	$	11
Deferred compensation plan liabilities	16		18
Total	$	48	$	29

Schedule of Estimated Fair Values of Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

The estimated fair values of our other financial assets and liabilities were as follows:

	March 31, 2022				December 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	1,681	$	1,681	$	1,840	$	1,840
Accounts receivable, net	807		807		818		818
Short-term debt and current portion of long-term debt	1,450		1,459		650		653
Long-term Debt
Xerox Holdings Corporation	1,495		1,489		1,494		1,579
Xerox Corporation	894		864		1,892		1,987
Xerox - Other Subsidiaries(1)	432		433		210		210
Long-term debt	$	2,821	$	2,786	$	3,596	$	3,776

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(1)Represents subsidiaries of Xerox Corporation