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Shareholder's Equity of Xerox
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholder's Equity of Xerox Shareholders’ Equity of Xerox Holdings
(shares in thousands)
The shareholders' equity information presented below reflects the consolidated activity of Xerox Holdings.
Common
Stock(1)
Additional
Paid-in
Capital
Retained
Earnings
AOCL(2)
Xerox Holdings
Shareholders’
Equity
Non-controlling
Interests
Total
Equity
Balance at March 31, 2025$126 $1,141 $3,403 $(3,617)$1,053 $4 $1,057 
Comprehensive (loss) income, net— — (106)169 63 — 63 
Cash dividends declared - common(3)
— — (4)— (4)— (4)
Cash dividends declared - preferred(4)
— — (3)— (3)— (3)
Stock option and incentive plans, net— 13 — — 13 — 13 
Transactions with noncontrolling interests— — — — — 1 1 
Balance at June 30, 2025$126 $1,154 $3,290 $(3,448)$1,122 $5 $1,127 
Common
Stock(1)
Additional
Paid-in
Capital
Retained
Earnings
AOCL(2)
Xerox Holdings
Shareholders’
Equity
Non-
controlling
Interests
Total
Equity
Balance at March 31, 2024$124 $1,099 $4,828 $(3,673)$2,378 $3 $2,381 
Comprehensive income (loss) , net— — 18 (14)4 — 4 
Cash dividends declared - common(3)
— — (33)— (33)— (33)
Cash dividends declared - preferred(4)
— — (3)— (3)— (3)
Stock option and incentive plans, net— 15 — — 15 — 15 
Transactions with noncontrolling interests— — — — — 1 1 
Balance at June 30, 2024$124 $1,114 $4,810 $(3,687)$2,361 $4 $2,365 
Common
Stock(1)
Additional Paid-in CapitalRetained Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon-controlling Interests
Total
Equity
Balance at December 31, 2024$124 $1,137 $3,514 $(3,699)$1,076 $4 $1,080 
Comprehensive (loss) income, net— — (196)251 55 — 55 
Cash dividends declared - common(3)
— — (21)— (21)— (21)
Cash dividends declared - preferred(4)
— — (7)— (7)— (7)
Stock option and incentive plans, net2 17 — — 19 — 19 
Transactions with noncontrolling interests— — — — — 2 2 
Distributions to noncontrolling interests— — — — — (1)(1)
Balance at June 30, 2025$126 $1,154 $3,290 $(3,448)$1,122 $5 $1,127 
Common
Stock(1)
Additional Paid-in CapitalRetained Earnings
AOCL(2)
Xerox Holdings Shareholders’ EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2023$123 $1,114 $4,977 $(3,676)$2,538 $10 $2,548 
Comprehensive loss, net— — (95)(11)(106)— (106)
Cash dividends declared - common(3)
— — (65)— (65)— (65)
Cash dividends declared - preferred(4)
— — (7)— (7)— (7)
Purchases of capped calls— (17)— — (17)— (17)
Stock option and incentive plans, net1 17 — — 18 — 18 
Transactions with noncontrolling interests— — — — — (5)(5)
Distributions to noncontrolling interests— — — — — (1)(1)
Balance at June 30, 2024$124 $1,114 $4,810 $(3,687)$2,361 $4 $2,365 
_____________
(1)Common Stock has a par value of $1 per share.
(2)Refer to Note 18 - Other Comprehensive Income (Loss) for the components of AOCL.
(3)During the first quarter of 2025, the annual dividend on Common Shares was reduced to $0.50 per share from $1.00 per share. In the second quarter of 2025, the annual dividend on Common Shares was further reduced to $0.10 per share from $0.50 per share. Cash dividends declared on common stock for the three months ended June 30, 2025 and 2024 were $0.025 per share and $0.25 per share, respectively, and $0.15 per share and $0.50 per share for the six months ended June 30, 2025 and 2024, respectively.
(4)Cash dividends declared on preferred stock for the three and six months ended June 30, 2025 and 2024 were $20.00 per share, respectively, and $40.00 per share, respectively.
Common Stock
The following is a summary of the changes in Common stock shares:
Common Stock Shares
Balance at December 31, 2024124,435 
Stock based compensation plans, net1,345 
Balance at March 31, 2025125,780 
Stock based compensation plans, net26 
Balance at June 30, 2025125,806 
Shareholder's Equity of Xerox
The shareholder's equity information presented below reflects the consolidated activity of Xerox.
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at March 31, 2025$3,474 $1,397 $(3,617)$1,254 $4 $1,258 
Comprehensive (loss) income, net— (104)169 65 — 65 
Dividends declared to parent— (6)— (6)— (6)
Transfers to parent(6)— — (6)— (6)
Transactions with noncontrolling interests— — — — 1 1 
Balance at June 30, 2025
$3,468 $1,287 $(3,448)$1,307 $5 $1,312 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at March 31, 2024$3,465 $2,811 $(3,673)$2,603 $3 $2,606 
Comprehensive income (loss), net— 19 (14)5 — 5 
Dividends declared to parent— (34)— (34)— (34)
Transfers from parent8 — — 8 — 8 
Transactions with noncontrolling interests— — — — 1 1 
Balance at June 30, 2024
$3,473 $2,796 $(3,687)$2,582 $4 $2,586 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's EquityNon- controlling Interests
Total
Equity
Balance at December 31, 2024$3,487 $1,504 $(3,699)$1,292 $4 $1,296 
Comprehensive (loss) income, net— (191)251 60 — 60 
Dividends declared to parent— (26)— (26)— (26)
Transfers to parent(19)— — (19)— (19)
Transactions with noncontrolling interests— — — — 2 2 
Distributions to noncontrolling interests— — — — (1)(1)
Balance at June 30, 2025$3,468 $1,287 $(3,448)$1,307 $5 $1,312 
Additional Paid-in CapitalRetained Earnings
AOCL(1)
Xerox Shareholder's Equity
Non-
controlling
Interests
Total
Equity
Balance at December 31, 2023$3,485 $2,959 $(3,676)$2,768 $10 $2,778 
Comprehensive loss, net— (94)(11)(105)— (105)
Dividends declared to parent— (69)— (69)— (69)
Transfers to parent(12)— — (12)— (12)
Transactions with noncontrolling interests— — — — (5)(5)
Distributions to noncontrolling interests— — — — (1)(1)
Balance at June 30, 2024
$3,473 $2,796 $(3,687)$2,582 $4 $2,586 
_____________
(1)Refer to Note 18 - Other Comprehensive Income (Loss) for the components of AOCL.