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Xerox Corporation Condensed Consolidated Statements of (Loss) Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Total Revenues $ 1,754 $ 1,747 $ 3,469 $ 3,415
Costs and Expenses        
Cost of financing 34 26 70 50
Research, development and engineering expenses 57 84 121 162
Selling, administrative and general expenses 433 459 840 914
Restructuring and related costs 23 1 25 19
Amortization of intangible assets 10 10 21 21
PARC donation 132 0 132 0
Other expenses, net 31 8 51 65
Total Costs and Expenses 1,843 1,752 3,473 3,509
Loss before Income Taxes and Equity Income (89) (5) (4) (94)
Income tax (benefit) expense (28) 1 (14) (30)
Equity in net income of unconsolidated affiliates 1 1 1 2
Net (Loss) Income (60) (5) 11 (62)
Less: Net income (loss) attributable to noncontrolling interests 1 (1) 1 (2)
Net (Loss) Income Attributable to Xerox Holdings (61) (4) 10 (60)
XEROX CORPORATION        
Revenues        
Total Revenues 1,754 1,747 3,469 3,415
Costs and Expenses        
Cost of financing 34 26 70 50
Research, development and engineering expenses 57 84 121 162
Selling, administrative and general expenses 433 459 840 914
Restructuring and related costs 23 1 25 19
Amortization of intangible assets 10 10 21 21
PARC donation 132 0 132 0
Other expenses, net 31 8 51 65
Total Costs and Expenses 1,843 1,752 3,473 3,509
Loss before Income Taxes and Equity Income (89) (5) (4) (94)
Income tax (benefit) expense (28) 1 (14) (30)
Equity in net income of unconsolidated affiliates 1 1 1 2
Net (Loss) Income (60) (5) 11 (62)
Less: Net income (loss) attributable to noncontrolling interests 1 (1) 1 (2)
Net (Loss) Income Attributable to Xerox Holdings (61) (4) 10 (60)
Sales        
Revenues        
Total Revenues 696 667 1,355 1,259
Costs and Expenses        
Cost of sales/services, maintenance and rentals 452 487 877 922
Sales | XEROX CORPORATION        
Revenues        
Total Revenues 696 667 1,355 1,259
Costs and Expenses        
Cost of sales/services, maintenance and rentals 452 487 877 922
Services, maintenance and rentals        
Revenues        
Total Revenues 1,009 1,028 2,013 2,051
Costs and Expenses        
Cost of sales/services, maintenance and rentals 671 677 1,336 1,356
Services, maintenance and rentals | XEROX CORPORATION        
Revenues        
Total Revenues 1,009 1,028 2,013 2,051
Costs and Expenses        
Cost of sales/services, maintenance and rentals 671 677 1,336 1,356
Financing        
Revenues        
Total Revenues 49 52 101 105
Financing | XEROX CORPORATION        
Revenues        
Total Revenues $ 49 $ 52 $ 101 $ 105