Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table represents assets and liabilities' fair value measured on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs.

	As of December 31,
	2023		2022
Assets
Derivatives	$	11	$	26
Deferred compensation investments in mutual funds	14		15
Total	$	25	$	41
Liabilities
Derivatives	$	8	$	11
Deferred compensation plan liabilities	13		14
Total	$	21	$	25

Schedule of Estimated Fair Values of Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

The estimated fair values of our other financial assets and liabilities were as follows:

	December 31, 2023				December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	519	$	519	$	1,045	$	1,045
Accounts receivable, net	850		850		857		857
Short-term debt and current portion of long-term debt	567		567		860		861
Long-term debt
Xerox Holdings Corporation	$	1,497	$	1,410	$	1,496	$	1,294
Xerox Corporation	1,096		1,023		894		726
Xerox - Other Subsidiaries(1)	117		117		476		478
Total Long-term debt	$	2,710	$	2,550	$	2,866	$	2,498

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(1)Represents subsidiaries of Xerox Corporation.