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XEROX HOLDINGS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total Revenues $ 1,528 $ 1,652 $ 4,608 $ 5,121
Costs and Expenses        
Cost of financing 26 30 82 100
Research, development and engineering expenses 45 52 144 173
Selling, administrative and general expenses 370 416 1,160 1,256
Goodwill impairment 1,058 0 1,058 0
Restructuring and related costs, net 56 10 107 35
Amortization of intangible assets 10 12 30 33
Divestitures 0 0 51 0
PARC Donation 0 0 0 132
Other expenses, net 43 (18) 120 33
Total Costs and Expenses 2,615 1,588 5,820 5,061
(Loss) Income before Income Taxes (1,087) 64 (1,212) 60
Income tax expense 118 15 88 1
Net (Loss) Income (1,205) 49 (1,300) 59
Less: Preferred stock dividends, net (4) (4) (11) (11)
Net (Loss) Income Attributable to Common Shareholders $ (1,209) $ 45 $ (1,311) $ 48
Basic (Loss) Earnings per Share (in dollars per share) $ (9.71) $ 0.29 $ (10.55) $ 0.31
Diluted (Loss) Earnings per Share (in dollars per share) $ (9.71) $ 0.28 $ (10.55) $ 0.30
Sales        
Revenues        
Total Revenues $ 588 $ 644 $ 1,722 $ 1,999
Costs and Expenses        
Cost of sales/services, maintenance and rentals 390 435 1,117 1,312
Services, maintenance and rentals        
Revenues        
Total Revenues 902 962 2,768 2,975
Costs and Expenses        
Cost of sales/services, maintenance and rentals 617 651 1,951 1,987
Financing        
Revenues        
Total Revenues $ 38 $ 46 $ 118 $ 147