Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Segment Reporting Information

Selected financial information for our reportable segments was as follows:


	Three Months Ended September 30,
	2022									2021
	Print and Other			Financing (FITTLE)			Total			Print and Other			Financing (FITTLE)			Total
External net revenue	$	1,604		$	147		$	1,751		$	1,590		$	168		$	1,758
Intersegment net revenue(1)	37			3			40			46			3			49
Total Segment net revenue	$	1,641		$	150		$	1,791		$	1,636		$	171		$	1,807

Segment profit	$	57		$	8		$	65		$	50		$	24		$	74
Segment margin(2)	3.6		%	5.4		%	3.7		%	3.1		%	14.3		%	4.2		%

Depreciation and amortization	$	28		$	27		$	55		$	28		$	38		$	66


Interest income	—			51			51			—			55			55
Interest expense(3)	—			30			30			—			31			31


	Nine Months Ended September 30,
	2022									2021
	Print and Other			Financing (FITTLE)			Total			Print and Other			Financing (FITTLE)			Total
External net revenue	$	4,716		$	450		$	5,166		$	4,742		$	519		$	5,261
Intersegment net revenue(1)	108			9			117			147			9			156
Total Segment net revenue	$	4,824		$	459		$	5,283		$	4,889		$	528		$	5,417

Segment profit	$	55		$	42		$	97		$	232		$	57		$	289
Segment margin(2)	1.2		%	9.3		%	1.9		%	4.9		%	11.0		%	5.5		%

Depreciation and amortization	$	85		$	89		$	174		$	86		$	121		$	207


Interest income	—			156			156			—			166			166
Interest expense(3)	—			84			84			—			91			91

_____________

(1)Intersegment net revenue is primarily commissions and other payments made by the Financing (FITTLE) Segment 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 (FITTLE) Segment includes non-financing interest expense on allocated debt associated with Equipment on operating lease of $2 and $2 for the three months ended September 30, 2022 and 2021, respectively, and $6 and $6 for the nine months ended September 30, 2022 and 2021, respectively.

Selected financial information for our reportable segments was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021





Pre-tax (Loss) Income
Total reported segments	$	65	$	74	$	97	$	289
Goodwill impairment	(412)		—		(412)		—
Restructuring and related costs, net	(22)		(10)		(41)		(39)
Amortization of intangible assets	(10)		(13)		(31)		(42)
Accelerated share vesting	—		—		(21)		—
Other expenses, net	(1)		33		(66)		28
Total Pre-tax (loss) income	$	(380)	$	84	$	(474)	$	236

Depreciation and Amortization
Total reported segments	$	55	$	66	$	174	$	207
Amortization of intangible assets	10		13		31		42
Total Depreciation and amortization	$	65	$	79	$	205	$	249

Interest Expense
Total reported segments	$	30	$	31	$	84	$	91
Corporate	19		21		67		65
Total Interest expense	$	49	$	52	$	151	$	156

Interest Income
Total reported segments	$	51	$	55	$	156	$	166
Corporate	4		1		8		3
Total Interest income	$	55	$	56	$	164	$	169