Shareholders' Equity of Xerox

3 Months Ended

Mar. 31, 2020

Shareholders’ Equity of Xerox Holdings

(shares in thousands)

The shareholders' equity information presented below reflects the consolidated activity of Xerox Holdings.


	Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		AOCL⁽¹⁾		Xerox Holdings Shareholders’ Equity		Non-controlling Interests		Total Equity
Balance at December 31, 2019	$	215	$	2,782	$	(76)	$	6,312	$	(3,646)	$	5,587	$	7	$	5,594

Comprehensive loss, net	—		—		—		(2)		(138)		(140)		—		(140)
Cash dividends declared - common⁽²⁾	—		—		—		(54)		—		(54)		—		(54)
Cash dividends declared - preferred⁽³⁾	—		—		—		(4)		—		(4)		—		(4)


Stock option and incentive plans, net	—		4		—		—		—		4		—		4


Cancellation of treasury stock	(2)		(74)		76		—		—		—		—		—


Balance at March 31, 2020	$	213	$	2,712	$	—	$	6,252	$	(3,784)	$	5,393	$	7	$	5,400


	Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		AOCL⁽¹⁾		Xerox Holdings Shareholders’ Equity		Non- controlling Interests		Total Equity
Balance at December 31, 2018	$	232	$	3,321	$	(55)	$	5,072	$	(3,565)	$	5,005	$	34	$	5,039
Cumulative effect of change in accounting principle	—		—		—		127		(127)		—		—		—
Comprehensive income, net	—		—		—		133		40		173		3		176
Cash dividends declared - common⁽²⁾	—		—		—		(58)		—		(58)		—		(58)
Cash dividends declared - preferred⁽³⁾	—		—		—		(4)		—		(4)		—		(4)


Stock option and incentive plans, net	—		14		—		—		—		14		—		14

Payments to acquire treasury stock, including fees	—		—		(103)		—		—		(103)		—		(103)
Cancellation of treasury stock	(2)		(53)		55		—		—		—		—		—
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)

Balance at March 31, 2019	$	230	$	3,282	$	(103)	$	5,270	$	(3,652)	$	5,027	$	36	$	5,063

_____________

(1)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.

(2)Cash dividends declared on common stock for the three months ended March 31, 2020 and 2019 were $0.25 per share.

(3)Cash dividends declared on preferred stock for the three months ended March 31, 2020 and 2019 were $20.00 per share.

Treasury Stock

The following is a summary of the purchases of common stock during 2020:

_____________

(1)Includes associated fees.

Shareholders’ Equity of Xerox

(shares in thousands)

The shareholders' equity information presented below reflects the consolidated activity of Xerox.


	Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		AOCL⁽¹⁾		Xerox Shareholders’ Equity		Non-controlling Interests		Total Equity
Balance at December 31, 2019	$	—	$	3,266	$	—	$	6,247	$	(3,646)	$	5,867	$	7	$	5,874

Comprehensive loss, net	—		—		—		(2)		(138)		(140)		—		(140)


Dividends declared to parent	—		—		—		(290)		—		(290)		—		(290)
Transfers from parent	—		238		—		—		—		238		—		238









Balance at March 31, 2020	$	—	$	3,504	$	—	$	5,955	$	(3,784)	$	5,675	$	7	$	5,682


	Common Stock		Additional Paid-in Capital		Treasury Stock		Retained Earnings		AOCL⁽¹⁾		Xerox Shareholders’ Equity		Non- controlling Interests		Total Equity
Balance at December 31, 2018	$	232	$	3,321	$	(55)	$	5,072	$	(3,565)	$	5,005	$	34	$	5,039
Cumulative effect of change in accounting principle	—		—		—		127		(127)		—		—		—
Comprehensive income, net	—		—		—		133		40		173		3		176
Cash dividends declared - common	—		—		—		(58)		—		(58)		—		(58)
Cash dividends declared - preferred	—		—		—		(4)		—		(4)		—		(4)


Stock option and incentive plans, net	—		14		—		—		—		14		—		14

Payments to acquire treasury stock, including fees	—		—		(103)		—		—		(103)		—		(103)
Cancellation of treasury stock	(2)		(53)		55		—		—		—		—		—
Distributions to noncontrolling interests	—		—		—		—		—		—		(1)		(1)

Balance at March 31, 2019	$	230	$	3,282	$	(103)	$	5,270	$	(3,652)	$	5,027	$	36	$	5,063

_____________

(1)Refer to Note 19 - Other Comprehensive (Loss) Income for the components of AOCL.