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XEROX HOLDINGS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net (Loss) Income $ (95) $ 10
Adjustments to reconcile Net (loss) income to Net cash provided by operating activities    
Depreciation and amortization 118 126
Provisions 79 21
Net gain on sales of businesses and assets (1) (2)
Divestitures 51 0
PARC donation 0 132
Stock-based compensation 29 28
Restructuring and asset impairment charges 34 14
Payments for restructurings (47) (14)
Non-service retirement-related costs 49 10
Contributions to retirement plans (58) (32)
Increase in accounts receivable and billed portion of finance receivables (32) (36)
(Increase) decrease in inventories (148) 12
Increase in equipment on operating leases (50) (77)
Decrease in finance receivables 399 407
Decrease in other current and long-term assets 14 15
Decrease in accounts payable (88) (290)
Decrease in accrued compensation (93) (7)
Decrease in other current and long-term liabilities (52) (139)
Net change in income tax assets and liabilities (64) (17)
Net change in derivative assets and liabilities 6 22
Other operating, net (7) (10)
Net cash provided by operating activities 44 173
Cash Flows from Investing Activities    
Cost of additions to land, buildings, equipment and software (18) (15)
Proceeds from sales of businesses and assets 19 3
Acquisitions, net of cash acquired 0 (7)
Other investing, net (20) (3)
Net cash used in investing activities (19) (22)
Cash Flows from Financing Activities    
Net proceeds from short-term debt 0 200
Proceeds from issuance of long-term debt 906 0
Payments on long-term debt (871) (826)
Purchases of capped calls (23) 0
Dividends (71) (88)
Payments to acquire treasury stock, including fees (3) 0
Other financing, net (13) (11)
Net cash used in financing activities (75) (725)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (16) 4
Decrease in cash, cash equivalents and restricted cash (66) (570)
Cash, cash equivalents and restricted cash at beginning of period 617 1,139
Cash, Cash Equivalents and Restricted Cash at End of Period $ 551 $ 569