Investment in Affiliates, at Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Investments in corporate joint ventures and other companies in which we generally have a 20% to 50% ownership interest were as follows:



	December 31,
	2019		2018
Fuji Xerox⁽¹⁾	$	—	$	1,360
Other⁽²⁾	46		43
Investments in affiliates, at equity	$	46	$	1,403

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(1)	Balance at December 31, 2018 reported in Other long-term assets of discontinued operations.

(2)

Balance at December 31, 2019 and 2018, respectively, reported in Other long-term assets.

Total equity in net income of unconsolidated affiliates

Our equity in net income of our unconsolidated affiliates was as follows:



	Year Ended December 31,
	2019		2018		2017
Fuji Xerox⁽¹⁾	$	147	$	25	$	102
Other	8		8		13
Total Equity in net income of unconsolidated affiliates	$	155	$	33	$	115

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(1)

Equity in net income for Fuji Xerox is reported in Income from discontinued operations, net of tax for all years. The equity in net income for Fuji Xerox in 2019 is through the date of sale.

Summarized financial information of equity investment [Table Text Block]

Summarized financial information for Fuji Xerox is as follows:



	Through Date of Sale		Year Ended December 31,
	2019		2018		2017
Summary of Operations
Revenues	$	7,667	$	9,161	$	9,638
Costs and expenses	6,814		8,880		9,072
Income before income taxes	853		281		566
Income tax expense	258		160		144
Net Income	595		121		422
Less: Net income - noncontrolling interests	3		2		5
Net Income - Fuji Xerox	$	592	$	119	$	417

Balance Sheet	At Date of Sale		December 31, 2018		December 31, 2017
Assets
Current assets	$	4,876	$	4,179	$	4,315
Long-term assets	3,964		4,034		4,488
Total Assets	$	8,840	$	8,213	$	8,803
Liabilities and Equity
Short-term debt	$	49	$	130	$	428
Other current liabilities	1,932		1,827		2,079
Long-term debt	16		24		76
Other long-term liabilities	514		395		369
Noncontrolling interests	18		30		33
Fuji Xerox shareholders' equity	6,311		5,807		5,818
Total Liabilities and Equity	$	8,840	$	8,213	$	8,803

Exchange rates used to translate results of equity investments in affiliates

Yen/U.S. Dollar exchange rates used to translate are as follows:



Financial Statement	Exchange Basis	2019	2018	2017
Summary of Operations	Weighted average rate	109.03	110.28	112.14
Balance Sheet	Year-end rate	108.83	110.26	112.87

Transactions with Fuji Xerox

Transactions with Fuji Xerox were as follows:



	Year Ended December 31,
	2019		2018		2017
Royalty revenue earned	$	99	$	96	$	103
Inventory purchases from Fuji Xerox	1,337		1,501		1,585
Inventory sales to Fuji Xerox	33		43		58
R&D payments received from Fuji Xerox	—		1		1
R&D payments paid to Fuji Xerox	4		8		14