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XEROX HOLDINGS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total Revenues $ 1,576 $ 1,578 $ 3,033 $ 3,080
Costs and Expenses        
Research, development and engineering expenses 43 50 85 99
Selling, administrative and general expenses 368 393 746 790
Restructuring and related costs, net 10 12 9 51
Amortization of intangible assets 10 10 20 20
Divestitures 0 (3) (4) 51
Other expenses, net 80 33 148 77
Total Costs and Expenses 1,636 1,553 3,160 3,205
(Loss) Income before Income Taxes (60) 25 (127) (125)
Income tax expense (benefit) 46 7 69 (30)
Net (Loss) Income (106) 18 (196) (95)
Less: Preferred stock dividends, net (3) (3) (7) (7)
Net (Loss) Income attributable to Common Shareholders $ (109) $ 15 $ (203) $ (102)
Basic (Loss) Income per Share (in dollars per share) $ (0.87) $ 0.12 $ (1.62) $ (0.83)
Diluted (Loss) Income per Share (in dollars per share) $ (0.87) $ 0.11 $ (1.62) $ (0.83)
Sales        
Revenues        
Total Revenues $ 665 $ 611 $ 1,222 $ 1,134
Costs and Expenses        
Cost of sales/services, maintenance and rentals 480 387 862 727
Services, maintenance, rentals and other        
Revenues        
Total Revenues [1] 911 967 1,811 1,946
Costs and Expenses        
Cost of sales/services, maintenance and rentals [1] $ 645 $ 671 $ 1,294 $ 1,390
[1] In 2025, certain reclassifications were made within the Condensed Consolidated Statement of (Loss) Income to the prior periods in order to conform to the current period reporting. Refer to the Segments section of Note 1 - Basis of Presentation for additional information.