Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Segment Reporting Information

Selected financial information for our reportable segments was as follows:


	Three Months Ended June 30,
	2022									2021
	Print and Other			Financing (FITTLE)			Total			Print and Other			Financing (FITTLE)			Total
External net revenue	$	1,599		$	148		$	1,747		$	1,619		$	174		$	1,793
Intersegment net revenue(1)	34			3			37			53			3			56
Total Segment net revenue	$	1,633		$	151		$	1,784		$	1,672		$	177		$	1,849

Segment profit	$	18		$	17		$	35		$	111		$	15		$	126
Segment margin(2)	1.1		%	11.5		%	2.0		%	6.9		%	8.6		%	7.0		%

Depreciation and amortization	$	28		$	30		$	58		$	29		$	41		$	70


Interest income	—			52			52			—			56			56
Interest expense(3)	—			28			28			—			30			30


	Six Months Ended June 30,
	2022									2021
	Print and Other			Financing (FITTLE)			Total			Print and Other			Financing (FITTLE)			Total
External net revenue	$	3,112		$	303		$	3,415		$	3,152		$	351		$	3,503
Intersegment net revenue(1)	71			6			77			101			6			107
Total Segment net revenue	$	3,183		$	309		$	3,492		$	3,253		$	357		$	3,610

Segment (loss) profit	$	(2)		$	34		$	32		$	182		$	33		$	215
Segment (loss) margin(2)	(0.1)		%	11.2		%	0.9		%	5.8		%	9.4		%	6.1		%

Depreciation and amortization	$	57		$	62		$	119		$	58		$	83		$	141


Interest income	—			105			105			—			111			111
Interest expense(3)	—			54			54			—			60			60

_____________

(1)Intersegment net revenue is primarily commissions and other payments made by the Financing Segment (FITTLE) to the Print and Other Segment for the lease of Xerox Equipment placements.

(2)Segment margin based on External net revenue only.

(3)Interest expense for the Financing Segment includes non-financing interest expense on allocated debt associated with Equipment on operating lease of $2 and $2 for the three months ended June 30, 2022 and 2021, respectively, and $4 and $4 for the six months ended June 30, 2022 and 2021, respectively.

Selected financial information for our reportable segments was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021





Pre-tax (Loss) Income
Total reported segments	$	35	$	126	$	32	$	215
Restructuring and related costs, net	(1)		(12)		(19)		(29)
Amortization of intangible assets	(10)		(14)		(21)		(29)
Accelerated share vesting	(21)		—		(21)		—
Other expenses, net	(8)		(1)		(65)		(5)
Total Pre-tax (loss) income	$	(5)	$	99	$	(94)	$	152

Depreciation and Amortization
Total reported segments	$	58	$	70	$	119	$	141
Amortization of intangible assets	10		14		21		29
Total Depreciation and amortization	$	68	$	84	$	140	$	170

Interest Expense
Total reported segments	$	28	$	30	$	54	$	60
Corporate	21		22		48		44
Total Interest expense	$	49	$	52	$	102	$	104

Interest Income
Total reported segments	$	52	$	56	$	105	$	111
Corporate	3		1		4		2
Total Interest income	$	55	$	57	$	109	$	113