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Shareholder's Equity of Xerox (Tables)
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Schedule of Shareholder's Equity of Xerox
The shareholders' equity information presented below reflects the consolidated activity of Xerox Holdings.
Common
Stock(1)
Additional Paid-in CapitalTreasury StockRetained Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon-controlling Interests
Total
Equity
Balance at March 31, 2024$124 $1,099 $— $4,828 $(3,673)$2,378 $3 $2,381 
Comprehensive income (loss), net— — — 18 (14)4 — 4 
Cash dividends declared - common(3)
— — — (33)— (33)— (33)
Cash dividends declared - preferred(4)
— — — (3)— (3)— (3)
Stock option and incentive plans, net— 15 — — — 15 — 15 
Transactions with noncontrolling interests— — — — — — 1 1 
Balance at June 30, 2024$124 $1,114 $— $4,810 $(3,687)$2,361 $4 $2,365 

Common
Stock(1)
Additional Paid-in CapitalTreasury StockRetained Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon- controlling Interests
Total
Equity
Balance at March 31, 2023$157 $1,594 $— $5,162 $(3,454)$3,459 $8 $3,467 
Comprehensive (loss) income, net— — — (61)17 (44)— (44)
Cash dividends declared - common(3)
— — — (41)— (41)— (41)
Cash dividends declared - preferred(4)
— — — (3)— (3)— (3)
Stock option and incentive plans, net— 13 — — — 13 — 13 
Transactions with noncontrolling interests— — — — — — 1 1 
Distributions to noncontrolling interests— — — — — — (1)(1)
Balance at June 30, 2023$157 $1,607 $— $5,057 $(3,437)$3,384 $8 $3,392 
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, net— — — (95)(11)(106)— (106)
Cash dividends declared - common(3)
— — — (65)— (65)— (65)
Cash dividends declared - preferred(4)
— — — (7)— (7)— (7)
Purchases of capped calls(5)
— (17)— — — (17)— (17)
Stock option and incentive plans, net1 17 — — — 18 — 18 
Transactions with noncontrolling interests— — — — — — (5)(5)
Distributions to noncontrolling interests— — — — — — (1)(1)
Balance at June 30, 2024
$124 $1,114 $— $4,810 $(3,687)$2,361 $4 $2,365 
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— — — 10 100 110 — 110 
Cash dividends declared - common(3)
— — — (82)— (82)— (82)
Cash dividends declared - preferred(4)
— — — (7)— (7)— (7)
Stock option and incentive plans, net1 19 — — — 20 — 20 
Distributions to noncontrolling interests— — — — — — (2)(2)
Balance at June 30, 2023
$157 $1,607 $— $5,057 $(3,437)$3,384 $8 $3,392 
_____________
(1)Common Stock has a par value of $1 per share.
(2)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.
(3)Cash dividends declared on common stock for the three and six months ended June 30, 2024 and 2023 were $0.25 per share, respectively, and $0.50 per share, respectively.
(4)Cash dividends declared on preferred stock for the three and six months ended June 30, 2024 and 2023 were $20.00 per share, respectively, and $40.00 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.
The shareholder's equity information presented below reflects the consolidated activity of Xerox.
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at March 31, 2024$3,465 $2,811 $(3,673)$2,603 $3 $2,606 
Comprehensive income (loss), net— 19 (14)5 — 5 
Dividends declared to parent— (34)— (34)— (34)
Transfers from parent8 — — 8 — 8 
Transactions with noncontrolling interests— — — — 1 1 
Balance at June 30, 2024$3,473 $2,796 $(3,687)$2,582 $4 $2,586 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's Equity
Non-
controlling
Interests
Total
Equity
Balance at March 31, 2023$3,695 $3,455 $(3,454)$3,696 $8 $3,704 
Comprehensive (loss) income, net— (61)17 (44)— (44)
Dividends declared to parent— (43)— (43)— (43)
Transfers from parent13 — — 13 — 13 
Balance at June 30, 2023
$3,708 $3,351 $(3,437)$3,622 $8 $3,630 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2023$3,485 $2,959 $(3,676)$2,768 $10 $2,778 
Comprehensive loss, net— (94)(11)(105)— (105)
Dividends declared to parent— (69)— (69)— (69)
Transfers to parent(12)— — (12)— (12)
Transactions with noncontrolling interests— — — — (5)(5)
Distributions to noncontrolling interests— — — — (1)(1)
Balance at June 30, 2024
$3,473 $2,796 $(3,687)$2,582 $4 $2,586 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2022$3,693 $3,427 $(3,537)$3,583 $10 $3,593 
Comprehensive income, net— 10 100 110 — 110 
Dividends declared to parent— (86)— (86)— (86)
Transfers from parent15 — — 15 — 15 
Distributions to noncontrolling interests— — — — (2)(2)
Balance at June 30, 2023
$3,708 $3,351 $(3,437)$3,622 $8 $3,630 
_____________
(1)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.