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Xerox Holdings Corporation Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Revenues                  
Total Revenues $ 1,652 $ 1,715 $ 1,941 $ 1,751 $ 1,747 $ 1,668 $ 5,121 $ 5,166 $ 7,107
Costs and Expenses                  
Cost of financing 30     28     100 78  
Research, development and engineering expenses 52     73     173 235  
Selling, administrative and general expenses 416     418     1,256 1,332  
Goodwill impairment 0     412     0 412  
Restructuring and related costs, net 10     22     35 41  
Amortization of intangible assets 12     10     33 31  
PARC donation 0     0     132 0  
Other expenses, net (17)     1     34 66  
Total Costs and Expenses 1,589     2,131     5,062 5,640  
Income (Loss) before Income Taxes and Equity Income 63     (380)     59 (474)  
Income tax expense (benefit) 15     3     1 (27)  
Equity in net income of unconsolidated affiliates 1     1     2 3  
Net Income (Loss) 49     (382)     60 (444)  
Less: Net income (loss) attributable to noncontrolling interests 0     1     1 (1)  
Net Income (Loss) Attributable to Xerox Holdings and Xerox $ 49     $ (383)     $ 59 $ (443)  
Basic Earnings (Loss) per Share (in dollars per share) $ 0.29     $ (2.48)     $ 0.31 $ (2.91)  
Diluted Earnings (Loss) per Share (in dollars per share) $ 0.28     $ (2.48)     $ 0.30 $ (2.91)  
Sales                  
Revenues                  
Total Revenues $ 644     $ 690     $ 1,999 $ 1,949  
Costs and Expenses                  
Cost of sales/services, maintenance and rentals 435     508     1,312 1,430  
Services, maintenance and rentals                  
Revenues                  
Total Revenues 962     1,010     2,975 3,061  
Costs and Expenses                  
Cost of sales/services, maintenance and rentals 651     659     1,987 2,015  
Financing                  
Revenues                  
Total Revenues $ 46     $ 51     $ 147 $ 156