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Xerox Corporation Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Total Revenues $ 1,652 $ 1,751 $ 5,121 $ 5,166
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)
XEROX CORPORATION        
Revenues        
Total Revenues 1,652 1,751 5,121 5,166
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)
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
Sales | XEROX CORPORATION        
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
Services, maintenance and rentals | XEROX CORPORATION        
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
Financing | XEROX CORPORATION        
Revenues        
Total Revenues $ 46 $ 51 $ 147 $ 156