XML 62 R49.htm IDEA: XBRL DOCUMENT v3.23.3
Shareholders' Equity of Xerox Holdings (Tables)
 9 Months Ended
Sep. 30, 2023
Stockholders' Equity Note [Abstract]  
Schedule of Shareholder's Equity of Xerox
The shareholders' equity information presented below reflects the consolidated activity of Xerox Holdings.
Common
Stock(1)
Additional Paid-in CapitalTreasury StockRetained Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon-controlling Interests
Total
Equity
Balance at June 30, 2023$157 $1,607 $— $5,057 $(3,437)$3,384 $8 $3,392 
Comprehensive income (loss), net— — — 49 (67)(18)1 (17)
Cash dividends declared - common(3)
— — — (32)— (32)— (32)
Cash dividends declared - preferred(4)
— — — (4)— (4)— (4)
Stock option and incentive plans, net— 12 — — — 12 — 12 
Payments to acquire treasury stock, including fees— — (553)— — (553)— (553)
Balance at September 30, 2023$157 $1,619 $(553)$5,070 $(3,504)$2,789 $9 $2,798 
Common
Stock(1)
Additional Paid-in CapitalTreasury StockRetained Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon- controlling Interests
Total
Equity
Balance at June 30, 2022$155 $1,564 $— $5,484 $(3,330)$3,873 $9 $3,882 
Comprehensive (loss) income, net— — — (383)(217)(600)1 (599)
Cash dividends declared - common(3)
— — — (40)— (40)— (40)
Cash dividends declared - preferred(4)
— — — (4)— (4)— (4)
Stock option and incentive plans, net1 13 — — — 14 — 14 
Investment from noncontrolling interests— — — — — — 1 1 
Balance at September 30, 2022$156 $1,577 $— $5,057 $(3,547)$3,243 $11 $3,254 
Common
Stock(1)
Additional
Paid-in
Capital
Treasury Stock
Retained
Earnings
AOCL(2)
Xerox Holdings
Shareholders’
Equity
Non-controlling
Interests
Total
Equity
Balance at December 31, 2022$156 $1,588 $— $5,136 $(3,537)$3,343 $10 $3,353 
Comprehensive income, net— — — 59 33 92 1 93 
Cash dividends declared - common(3)
— — — (114)— (114)— (114)
Cash dividends declared - preferred(4)
— — — (11)— (11)— (11)
Stock option and incentive plans, net1 31 — — — 32 — 32 
Payments to acquire treasury stock, including fees— — (553)— — (553)— (553)
Distributions to noncontrolling interests— — — — — — (2)(2)
Balance at September 30, 2023
$157 $1,619 $(553)$5,070 $(3,504)$2,789 $9 $2,798 
Common
Stock(1)
Additional
Paid-in
Capital
Treasury Stock
Retained
Earnings
AOCL(2)
Xerox Holdings
Shareholders’
Equity
Non-
controlling
Interests
Total
Equity
Balance at December 31, 2021$168 $1,802 $(177)$5,631 $(2,988)$4,436 $7 $4,443 
Comprehensive loss, net— — — (443)(559)(1,002)(1)(1,003)
Cash dividends declared - common(3)
— — — (120)— (120)— (120)
Cash dividends declared - preferred(4)
— — — (11)— (11)— (11)
Stock option and incentive plans, net2 51 — — — 53 — 53 
Payments to acquire treasury stock, including fees— — (113)— — (113)— (113)
Cancellation of treasury stock(14)(276)290 — — — — — 
Investment from noncontrolling interests— — — — — — 6 6 
Distributions to noncontrolling interests— — — — — — (1)(1)
Balance at September 30, 2022
$156 $1,577 $— $5,057 $(3,547)$3,243 $11 $3,254 
_____________
(1)Common Stock has a par value of $1 per share.
(2)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.
(3)Cash dividends declared on common stock for the three and nine months ended September 30, 2023 and 2022 were $0.25 per share, respectively, and $0.75 per share, respectively.
(4)Cash dividends declared on preferred stock for the three and nine months ended September 30, 2023 and 2022 were $20.00 per share, respectively, and $60.00 per share, respectively.
The shareholder's equity information presented below reflects the consolidated activity of Xerox.
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at June 30, 2023$3,708 $3,351 $(3,437)$3,622 $8 $3,630 
Comprehensive income (loss), net— 49 (67)(18)1 (17)
Dividends declared to parent— (34)— (34)— (34)
Transfers to parent(550)— — (550)— (550)
Balance at September 30, 2023$3,158 $3,366 $(3,504)$3,020 $9 $3,029 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's Equity
Non-
controlling
Interests
Total
Equity
Balance at June 30, 2022$3,630 $3,820 $(3,330)$4,120 $9 $4,129 
Comprehensive (loss) income, net— (383)(217)(600)1 (599)
Dividends declared to parent— (49)— (49)— (49)
Transfers from parent13 — — 13 — 13 
Investment from noncontrolling interests— — — — 1 1 
Balance at September 30, 2022
$3,643 $3,388 $(3,547)$3,484 $11 $3,495 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2022$3,693 $3,427 $(3,537)$3,583 $10 $3,593 
Comprehensive income, net— 59 33 92 1 93 
Dividends declared to parent— (120)— (120)— (120)
Transfers to parent(535)— — (535)— (535)
Distributions to noncontrolling interests— — — — (2)(2)
Balance at September 30, 2023
$3,158 $3,366 $(3,504)$3,020 $9 $3,029 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2021$3,202 $4,476 $(2,988)$4,690 $7 $4,697 
Comprehensive loss, net— (443)(559)(1,002)(1)(1,003)
Dividends declared to parent— (645)— (645)— (645)
Transfers from parent441 — — 441 — 441 
Investment from noncontrolling interests— — — — 6 6 
Distributions to noncontrolling interests— — — — (1)(1)
Balance at September 30, 2022
$3,643 $3,388 $(3,547)$3,484 $11 $3,495 
_____________
(1)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.
Schedule of Treasury Stock Purchases
The following is a summary of the changes in Common and Treasury stock shares:
Common Stock SharesTreasury Stock Shares
Balance at December 31, 2022155,781 — 
Stock based compensation plans, net1,177 — 
Balance at March 31, 2023156,958 — 
Stock based compensation plans, net147 — 
Balance at June 30, 2023157,105 — 
Stock based compensation plans, net46 — 
Acquisition of Treasury stock— 34,245 
Balance at September 30, 2023157,151 34,245