Shareholder's Equity of Xerox

3 Months Ended

Mar. 31, 2024

Stockholders' Equity Note [Abstract]

Shareholder's Equity of Xerox

Shareholders’ Equity of Xerox Holdings

(shares in thousands)

The shareholders' equity information presented below reflects the consolidated activity of Xerox Holdings.

	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, 2023	$	123	$	1,114	$	—	$	4,977	$	(3,676)	$	2,538	$	10	$	2,548
Comprehensive (loss) income, net	—		—		—		(113)		3		(110)		—		(110)
Cash dividends declared - common(3)	—		—		—		(32)		—		(32)		—		(32)
Cash dividends declared - preferred(4)	—		—		—		(4)		—		(4)		—		(4)
Purchases of capped calls(5)	—		(17)		—		—		—		(17)		—		(17)
Stock option and incentive plans, net	1		2		—		—		—		3		—		3
Transactions with noncontrolling interests	—		—		—		—		—		—		(6)		(6)
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)
Balance at March 31, 2024	$	124	$	1,099	$	—	$	4,828	$	(3,673)	$	2,378	$	3	$	2,381

	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	—		—		—		71		83		154		—		154
Cash dividends declared - common(3)	—		—		—		(41)		—		(41)		—		(41)
Cash dividends declared - preferred(4)	—		—		—		(4)		—		(4)		—		(4)
Stock option and incentive plans, net	1		6		—		—		—		7		—		7
Transactions with noncontrolling interests	—		—		—		—		—		—		(1)		(1)
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)
Balance at March 31, 2023	$	157	$	1,594	$	—	$	5,162	$	(3,454)	$	3,459	$	8	$	3,467

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(1)Common Stock has a par value of $1 per share.

(2)Refer to Note 19 - Other Comprehensive Income for the components of AOCL.

(3)Cash dividends declared on common stock for the three months ended March 31, 2024 and 2023 were $0.25 per share, respectively.

(4)Cash dividends declared on preferred stock for the three months ended March 31, 2024 and 2023 were $20.00 per share, respectively.

(5)Refer to Note 13 - Debt for additional information related to the purchases of capped calls in connection with the issuance of Xerox Holdings Corporation's $400 of 3.75% Convertible Senior Notes due 2030.

Common Stock and Treasury Stock

The following is a summary of the changes in Common and Treasury stock shares:

	Common Stock Shares	Treasury Stock Shares
Balance at December 31, 2023	123,144	—
Stock based compensation plans, net	1,041	—
Balance at March 31, 2024	124,185	—

Shareholder's Equity of Xerox

The shareholder's equity information presented below reflects the consolidated activity of Xerox.

	Additional Paid-in Capital		Retained Earnings		AOCL(1)		Xerox Shareholder's Equity		Non- controlling Interests		Total Equity
Balance at December 31, 2023	$	3,485	$	2,959	$	(3,676)	$	2,768	$	10	$	2,778
Comprehensive (loss) income, net	—		(113)		3		(110)		—		(110)
Dividends declared to parent	—		(35)		—		(35)		—		(35)
Transfers to parent	(20)		—		—		(20)		—		(20)
Transactions with noncontrolling interests	—		—		—		—		(6)		(6)
Distributions to noncontrolling interests	—		—		—		—		(1)		(1)
Balance at March 31, 2024	$	3,465	$	2,811	$	(3,673)	$	2,603	$	3	$	2,606

	Additional Paid-in Capital		Retained Earnings		AOCL(1)		Xerox Shareholder's Equity		Non- controlling Interests		Total Equity
Balance at December 31, 2022	$	3,693	$	3,427	$	(3,537)	$	3,583	$	10	$	3,593
Comprehensive income, net	—		71		83		154		—		154
Dividends declared to parent	—		(43)		—		(43)		—		(43)
Transfers from parent	2		—		—		2		—		2
Transactions with noncontrolling interests	—		—		—		—		(1)		(1)
Distributions to noncontrolling interests	—		—		—		—		(1)		(1)
Balance at March 31, 2023	$	3,695	$	3,455	$	(3,454)	$	3,696	$	8	$	3,704

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(1)Refer to Note 19 - Other Comprehensive Income for the components of AOCL.