Segment and Geographic Area Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Segment Reporting Information, by Segment

Selected financial information for our reportable segments was as follows:


	Year Ended December 31,
	2022									2021									2020
	Print and Other			Financing (FITTLE)			Total			Print and Other			Financing (FITTLE)			Total			Print and Other			Financing (FITTLE)			Total
External revenue	$	6,509		$	598		$	7,107		$	6,355		$	683		$	7,038		$	6,290		$	732		$	7,022
Intersegment revenue(1)	158			12			170			193			12			205			199			12			211
Total Segment revenue	$	6,667		$	610		$	7,277		$	6,548		$	695		$	7,243		$	6,489		$	744		$	7,233

Segment profit	$	238		$	37		$	275		$	293		$	82		$	375		$	461		$	3		$	464
Segment margin(2)	3.7		%	6.2		%	3.9		%	4.6		%	12.0		%	5.3		%	7.3		%	0.4		%	6.6		%

Interest income	$	—		$	207		$	207		$	—		$	221		$	221		$	—		$	226		$	226
Interest expense(3)	—			116			116			—			121			121			—			133			133
Depreciation and amortization	113			115			228			117			155			272			129			183			312

Capital expenditures(4)	57			—			57			68			—			68			74			—			74
Total Assets	8,004			3,539			11,543			9,690			3,533			13,223

_____________

(1)Intersegment revenue is primarily commissions and other payments made by the Financing (FITTLE) Segment to the Print and Other Segment for the lease of Xerox equipment placements.

(2)Segment margin based on External revenue only.

(3)Interest expense for the Financing (FITTLE) Segment includes non-financing interest expense on allocated debt associated with Equipment on operating lease of $8, $10 and $12 for the three years ended December 31, 2022, 2021 and 2020, respectively.

(4)Capital expenditures are allocated fully to the Print and Other segment since primarily managed and controlled through that segment together with related assets.

Selected financial information for our reportable segments was as follows:


	Year Ended December 31,
	2022		2021		2020





Pre-tax (Loss) Income
Total Segment profit	$	275	$	375	$	464
Goodwill impairment	(412)		(781)		—
Restructuring and related costs, net	(65)		(38)		(93)
Amortization of intangible assets	(42)		(55)		(56)
Accelerated share vesting	(21)		—		—
Transaction and related costs, net	—		—		(18)
Other expenses, net	(63)		24		(45)
Total Pre-tax (loss) income	$	(328)	$	(475)	$	252

Depreciation and Amortization
Total reported segments	$	228	$	272	$	312
Amortization of intangible assets	42		55		56
Total Depreciation and amortization	$	270	$	327	$	368

Interest Expense
Total reported segments	$	116	$	121	$	133
Corporate	83		86		82
Total Interest expense	$	199	$	207	$	215

Interest Income
Total reported segments	$	207	$	221	$	226
Corporate	11		4		14
Total Interest income	$	218	$	225	$	240

Revenue and Long-lived Assets by Geography

Geographic Area Data

Geographic area data is based upon the location of the subsidiary reporting the revenue or long-lived assets and is as follows:


	Revenues						Long-Lived Assets (1)
	Year Ended December 31,						As of December 31,
	2022		2021		2020		2022		2021
United States	$	4,014	$	3,982	$	4,186	$	537	$	638
Europe	1,935		2,023		1,883		249		258
Canada	545		398		393		54		68
Other areas	613		635		560		25		32
Total	$	7,107	$	7,038	$	7,022	$	865	$	996

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(1)Long-lived assets are comprised of (i) Land, buildings and equipment, net, (ii) Equipment on operating leases, net, (iii) Leased right-of-use (ROU) assets, net, (iv) Internal use software, net, and v) Capitalized product software, net.