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XEROX HOLDINGS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Total Revenues $ 1,578 $ 1,754 $ 3,080 $ 3,469
Costs and Expenses        
Cost of financing 29 34 56 70
Research, development and engineering expenses 50 57 99 121
Selling, administrative and general expenses 393 433 790 840
Restructuring and related costs, net 12 23 51 25
Amortization of intangible assets 10 10 20 21
Divestitures (3) 0 51 0
PARC Donation 0 132 0 132
Other expenses, net 33 31 77 51
Total Costs and Expenses 1,553 1,843 3,205 3,473
Income (Loss) before Income Taxes 25 (89) (125) (4)
Income tax expense (benefit) 7 (28) (30) (14)
Net Income (Loss) 18 (61) (95) 10
Less: Preferred stock dividends, net (3) (3) (7) (7)
Net Income (Loss) Attributable to Common Shareholders $ 15 $ (64) $ (102) $ 3
Basic Earnings (Loss) per Share (in dollars per share) $ 0.12 $ (0.41) $ (0.83) $ 0.02
Diluted Earnings (Loss) per Share (in dollars per share) $ 0.11 $ (0.41) $ (0.83) $ 0.02
Sales        
Revenues        
Total Revenues $ 611 $ 696 $ 1,134 $ 1,355
Costs and Expenses        
Cost of sales/services, maintenance and rentals 387 452 727 877
Services, maintenance and rentals        
Revenues        
Total Revenues 929 1,009 1,866 2,013
Costs and Expenses        
Cost of sales/services, maintenance and rentals 642 671 1,334 1,336
Financing        
Revenues        
Total Revenues $ 38 $ 49 $ 80 $ 101