Segment and Geographic Area Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Reporting Information, by Segment

The following provides segment revenues and profit for 2022 and 2021, recast to conform to our new segment measurements:


	Segment Revenues				Segment Profit
	2022		2021		2022		2021
As Reported:
Print and Other	$	6,667	$	6,548	$	238	$	293
FITTLE	610		695		37		82
Intersegment revenue(1)	(170)		(205)		—		—
Total External Revenue	$	7,107	$	7,038	$	275	$	375

Change:
Print and Other	$	137	$	181	$	20	$	18
FITTLE	(217)		(294)		(20)		(18)
Intersegment revenue(1)	80		113		—		—
Total External Revenue	$	—	$	—	$	—	$	—

Recast:
Print and Other	$	6,804	$	6,729	$	258	$	311
FITTLE	393		401		17		64
Intersegment revenue(1)	(90)		(92)		—		—
Total External Revenue	$	7,107	$	7,038	$	275	$	375

_____________

(1)Intersegment revenue is primarily commissions and other payments made by the FITTLE Segment to the Print and Other Segment for the lease of Xerox equipment placements.

Selected financial information for our reportable segments was as follows:


	Year Ended December 31,
	2023									2022(1)									2021(1)
	Print and Other			FITTLE			Total			Print and Other			FITTLE			Total			Print and Other			FITTLE			Total
External revenue	$	6,485		$	401		$	6,886		$	6,714		$	393		$	7,107		$	6,637		$	401		$	7,038
Intersegment revenue(2)	86			—			86			90			—			90			92			—			92
Total Segment revenue	$	6,571		$	401		$	6,972		$	6,804		$	393		$	7,197		$	6,729		$	401		$	7,130

Segment profit	$	360		$	29		$	389		$	258		$	17		$	275		$	311		$	64		$	375
Segment margin(3)	5.6		%	7.2		%	5.6		%	3.8		%	4.3		%	3.9		%	4.7		%	16.0		%	5.3		%

Interest income	$	—		$	191		$	191		$	—		$	207		$	207		$	—		$	221		$	221
Interest expense	—			130			130			—			108			108			—			111			111
Depreciation and amortization	208			—			208			228			—			228			272			—			272

Capital expenditures(4)	37			—			37			57			—			57			68			—			68
Total Assets	7,301			2,707			10,008			8,230			3,313			11,543			9,949			3,274			13,223

_____________

(1)Amounts for 2022 and 2021 have been recast to conform to the current year's reporting presentation. See the Segment Reporting Change section above.

(2)Intersegment revenue is primarily commissions and other payments made by the FITTLE Segment to the Print and Other Segment for the lease of Xerox equipment placements.

(3)Segment margin based on External revenue only.

(4)Capital expenditures are allocated fully to the Print and Other segment since they are primarily managed and controlled through that segment, together, with related long-lived assets.

Selected financial information for our reportable segments was as follows:


	Year Ended December 31,
	2023		2022		2021





Pre-tax (Loss)
Total Segment profit	$	389	$	275	$	375
Goodwill impairment	—		(412)		(781)
Restructuring and related costs, net	(167)		(65)		(38)
Amortization of intangible assets	(43)		(42)		(55)
PARC Donation	(132)		—		—
Accelerated share vesting	—		(21)		—

Other expenses, net	(75)		(60)		27
Total Pre-tax (loss)	$	(28)	$	(325)	$	(472)

Depreciation and Amortization
Total reported segments	$	208	$	228	$	272
Amortization of intangible assets	43		42		55
Total Depreciation and amortization	$	251	$	270	$	327

Interest Expense
Total reported segments	$	130	$	108	$	111
Corporate	68		91		96
Total Interest expense	$	198	$	199	$	207

Interest Income
Total reported segments	$	191	$	207	$	221
Corporate	16		11		4
Total Interest income	$	207	$	218	$	225

Revenue and Long-lived Assets by Geography

Geographic Area Data

Geographic area data is based upon the location of the subsidiary reporting the revenue or long-lived assets and is as follows:


	Revenues						Long-Lived Assets (1)
	Year Ended December 31,						As of December 31,
	2023		2022		2021		2023		2022
United States	$	3,826	$	4,014	$	3,982	$	467	$	537
Europe	1,951		1,935		2,023		241		249
Canada	554		545		398		42		54
Other areas	555		613		635		21		25
Total	$	6,886	$	7,107	$	7,038	$	771	$	865

_____________

(1)Long-lived assets are comprised of (i) Land, buildings and equipment, net, (ii) Equipment on operating leases, net, (iii) Leased right-of-use (ROU) assets, net, (iv) Internal use software, net, and v) Capitalized product software, net.