-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LlrXYl1UIrixF8i3V/b0X+P0GftnvyVlBJnHWCF1/KSy9OaaGpIqREtWlqCPlLUf SH1ucUlBTnM787XzX11wXA== 0001193125-07-104590.txt : 20070508 0001193125-07-104590.hdr.sgml : 20070508 20070507190152 ACCESSION NUMBER: 0001193125-07-104590 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20070427 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070508 DATE AS OF CHANGE: 20070507 FILER: COMPANY DATA: COMPANY CONFORMED NAME: XEROX CORP CENTRAL INDEX KEY: 0000108772 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 160468020 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04471 FILM NUMBER: 07825391 BUSINESS ADDRESS: STREET 1: 800 LONG RIDGE RD STREET 2: P O BOX 1600 CITY: STAMFORD STATE: CT ZIP: 06904-1600 BUSINESS PHONE: 2039683000 MAIL ADDRESS: STREET 1: 800 LONG RIDGE ROAD STREET 2: PO BOX 1600 CITY: STAMFORD STATE: CT ZIP: 06904 FORMER COMPANY: FORMER CONFORMED NAME: HALOID XEROX INC DATE OF NAME CHANGE: 19730813 8-K 1 d8k.htm FORM 8-K Form 8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (date of earliest event reported): April 27, 2007

 

XEROX CORPORATION

(Exact name of registrant as specified in its charter)

 

 

New York   1-4471   16-0468020

(State or other Jurisdiction

of incorporation)

   (Commission File Number)  

(IRS Employer

Identification No.)

800 Long Ridge Road

P. O. Box 1600

Stamford, Connecticut 06904-1600

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (203) 968-3000

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 8.01. Other Events.

Attached as Exhibit 100 to this report are documents that contain information from Xerox Corporation’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, filed with the Securities and Exchange Commission on April 27, 2007, formatted in XBRL (Extensible Business Reporting Language). Users of this data are advised pursuant to Rule 401 of Regulation S-T that the financial and other information contained in the XBRL documents is unaudited and that these are not the official publicly filed financial statements of Xerox Corporation. The purpose of submitting these XBRL formatted documents is to test the related format and technology and, as a result, investors should continue to rely on the official filed version of the furnished documents and not rely on the information in this Current Report on Form 8-K, including Exhibit 100, in making investment decisions.

In accordance with Rule 402 of Regulation S-T, the information in this Current Report on Form 8-K, including Exhibit 100, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit No.

  

Description

EX-100.LAB

   XBRL Taxonomy Label Linkbase Document

EX-100.PRE

   XBRL Taxonomy Presentation Linkbase Document

EX-100.INS

   XBRL Taxonomy Instance Document

EX-100.SCH

   XBRL Taxonomy Extension Schema Document

EX-100.CAL

   XBRL Taxonomy Calculation Linkbase Document

Forward Looking Statements

This Current Report on Form 8-K and any exhibits to this Report may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements reflect management’s current beliefs, assumptions and expectations and are subject to a number of factors that may cause actual results to differ materially. These factors include but are not limited to: the outcome of litigation and regulatory proceedings to which we may be a party; actions of competitors; changes and developments affecting our industry; quarterly or cyclical variations in financial results; development of new products and services; interest rates and cost of borrowing; our ability to maintain and improve cost efficiency of operations; changes in foreign currency exchange rates; changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters in the foreign countries in which we do business; reliance on third parties for manufacturing of products and provision of services; our ability to successfully integrate Global Imaging Systems, Inc. into our operations and other risks that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management’s Discussion and Analysis of Results of Operations and Financial Condition” section and other sections of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, as well as in our 2006 Form 10-K filed with the Securities and Exchange Commission (“SEC”). The company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly authorized this Report to be signed on its behalf by the undersigned duly authorized.

 

XEROX CORPORATION

By:

  

/s/ Gary R. Kabureck

 

Gary R. Kabureck

Vice President and Chief Accounting Officer

Date: May 7, 2007

EXHIBIT INDEX

 

Exhibit No.

  

Description

EX-100.LAB

   XBRL Taxonomy Label Linkbase Document

EX-100.PRE

   XBRL Taxonomy Presentation Linkbase Document

EX-100.INS

   XBRL Taxonomy Instance Document

EX-100.SCH

   XBRL Taxonomy Extension Schema Document

EX-100.CAL

   XBRL Taxonomy Calculation Linkbase Document
 EX-100.INS 2 xrx-20070331.xml XBRL INSTANCE DOCUMENT 225000000 3487000000 68000000 208000000 983000000 1816000000 1666000000 0 47000000 3695000000 200000000 76000000 213000000 39000000 0.2 1060000000 1075000000 0.2 16000000 55000000 -155000000 -7000000 11000000 -2000000 45000000 93000000 11000000 147000000 11000000 62000000 56000000 88000000 12000000 13000000 32000000 31000000 -37000000 0 34000000 2000000 155000000 200000000 672000000 1598000000 1322000000 238000000 334000000 100000000 2000000 138000000 49000000 22000000 14000000 276000000 11000000 -68000000 0 67000000 -73000000 80000000 273000000 2649000000 2199000000 141000000 1133000000 874000000 624000000 481000000 -8363000 8754000000 7080000000 137000000 4202000000 1527000000 1336000000 1490000000 821000000 1417000000 934000000 1051000000 -1647000000 5660000000 21709000000 14629000000 1163000000 2024000000 286000000 4922000000 663000000 1790000000 1485000000 4698000000 4666000000 946205000 954568000 1536000000 1399000000 21709000000 218000000 3507000000 57000000 329000000 954000000 1924000000 1707000000 -2000000 102000000 3836000000 233000000 78000000 205000000 6000000 0.24 1118000000 1084000000 0.25 2000000 69000000 -138000000 -12000000 17000000 0 18000000 90000000 18000000 187000000 6000000 -390000000 16000000 -21000000 94000000 29000000 28000000 52000000 -5000000 -2000000 36000000 4000000 152000000 233000000 -13000000 1218000000 1399000000 225000000 230000000 0 4000000 0 34000000 32000000 0 -181000000 27000000 -32000000 4000000 138000000 -84000000 74000000 282000000 2588000000 2218000000 218000000 1177000000 838000000 624000000 492000000 -12577000 8576000000 7140000000 65000000 4433000000 1525000000 1384000000 1494000000 794000000 1338000000 915000000 1045000000 -1651000000 5436000000 21391000000 14251000000 1290000000 2026000000 278000000 4858000000 486000000 1753000000 1518000000 4519000000 4576000000 937346000 949923000 1283000000 1218000000 21391000000 Note 3-Restructuring Programs Information related to restructuring program activity during the three months ended March 31, 2007 is outlined below. Lease Cancellation Severance and and Other Asset Restructuring Activity Related Costs Costs Impairments Total Ending Balance December 31, 2006 $ 293 $ 44 $ - $ 337 Restructuring Provision 8 - 1 9 Reversals of prior accruals (10) (1) - (11) Net current period charges(1) (2) (1) 1 (2) Charges against reserve and currency (69) (4) (1) (74) Ending Balance March 31, 2007 $ 222 $ 39 $ - $ 261 (1) Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown. Reconciliation to the Condensed Consolidated Statements of Cash Flows Three Months Ended March 31, 2007 2006 Charges to reserve, all programs $ (74) $ (77) Asset impairments 1 - Effects of foreign currency and other non-cash (1) (3) Cash payments for restructurings $ (74) $ (80) The following table summarizes the total amount of costs incurred in connection with these restructuring programs by segment: Three Months Ended March 31, 2007 2006 Production $ (3) $ (3) Office 1 (2) DMO 1 4 Other (1) 1 Total net charges $ (2) $ - We expect to incur additional restructuring charges in 2007 of approximately $7 related to initiatives identified to date that have not yet been recognized in the Consolidated Financial Statements as well as expected interest accretion on the reserve. Note 4-Inventories The following is a summary of Inventories by major category: March 31, December 31, 2007 2006 Finished goods $ 1,063 $ 967 Work-in-process 74 67 Raw materials 153 129 Total Inventories $ 1,290 $ 1,163 Note 7-Segment Reporting Our reportable segments are consistent with how we manage the business and view the markets we serve. Our reportable segments are Production, Office, Developing Markets Operations ("DMO") and Other. The Production and Office segments are centered around strategic product groups which share common technology, manufacturing and product platforms, as well as classes of customers. The Production segment includes black-and-white products which operate at speeds over 90 pages per minute ("ppm") excluding 95 ppm with an embedded controller and color products which operate at speeds over 40 ppm excluding 50 and 60 ppm products with an embedded controller. Products include the Xerox iGen3(R) digital color production press, Nuvera(tm), DocuTech(R), DocuPrint(R), Xerox 2101 and DocuColor(R) families, as well as older technology light-lens products. These products are sold predominantly through direct sales channels in North America and Europe to Fortune 1000, graphic arts, government, education and other public sector customers. The Office segment includes black-and-white products which operate at speeds up to 90 ppm as well as 95 ppm with an embedded controller and color products up to 40 ppm as well as 50 and 60 ppm products with an embedded controller. Products include the suite of CopyCentre(R), WorkCentre(R), and WorkCentre Pro digital multifunction systems, DocuColor color multifunction products, color laser, solid ink color printers and multifunction devices, monochrome laser desktop printers, digital and light-lens copiers and facsimile products. These products are sold through direct and indirect sales channels in North America and Europe to global, national and mid-size commercial customers as well as government, education and other public sector customers. The DMO segment includes our operations in Latin America, Brazil, the Middle East, India, Eurasia, Central and Eastern Europe and Africa. This segment's sales consist of office and production products including a large proportion of office devices and printers which operate at speeds of 11-40 ppm. Management serves and evaluates these markets on an aggregate geographic basis, rather than on a product basis. The segment classified as Other includes several units, none of which met the thresholds for separate segment reporting. This group primarily includes Xerox Supplies Business Group (predominantly paper), value-added services, Wide Format Systems, Xerox Technology Enterprises, royalty and licensing revenues, equity net income and non-allocated Corporate items. Value-added services includes the results of our July 2006 acquisition of Amici LLC (now Xerox Litigation Services). Other segment profit (loss) includes the operating results from these entities, other less significant businesses, our equity income from Fuji Xerox, and certain costs which have not been allocated to the Production, Office and DMO segments, including non-financing interest as well as other items included in Other expenses, net. Operating segment revenues and profitability for the three months ended March 31, 2007 and 2006 were as follows (in millions): Production Office DMO Other Total 2007 Total Segment revenues $ 1,085 $ 1,846 $ 458 $ 447 $ 3,836 Segment profit $ 100 $ 232 $ 16 $ 14 $ 362 2006 Total Segment revenues $ 1,035 $ 1,804 $ 436 $ 420 $ 3,695 Segment profit $ 67 $ 160 $ 17 $ 3 $ 247 The following is a reconciliation to pre-tax income: Three Months Ended March 31, 2007 2006 Total Segment profit $ 362 $ 247 Reconciling items: Restructuring and asset impairment charges 2 - Restructuring charges of Fuji Xerox (23) - Miscellaneous expenses (6) - Equity in net income of unconsolidated affiliates (6) (39) Pre-tax income $ 329 $ 208 0000108772 2006-01-01 2006-03-31 0000108772 2006-03-31 0000108772 2006-01-01 2006-03-31 0000108772 2006-12-31 0000108772 2007-01-01 2007-03-31 0000108772 2007-03-31 0000108772 2007-01-01 2007-03-31 0000108772 2007-03-31 iso4217:USD shares pure EX-100.SCH 3 xrx-20070331.xsd XBRL TAXONOMY EXTENSION SCHEMA link:calculationLink link:presentationLink link:presentationLink link:calculationLink link:presentationLink link:calculationLink link:presentationLink EX-100.CAL 4 xrx-20070331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-100.LAB 5 xrx-20070331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-100.PRE 6 xrx-20070331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE -----END PRIVACY-ENHANCED MESSAGE-----