Xerox Holdings Corp
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
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Xerox Holdings Corporation Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
| (in millions, except share data in thousands) | March 31,2024 | December 31,2023 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $685 | $519 |
| Accounts receivable (net of allowance of $65 and $64, respectively) | 846 | 850 |
| Billed portion of finance receivables (net of allowance of $3 and $4, respectively) | 67 | 71 |
| Finance receivables, net | 783 | 842 |
| Inventories | 736 | 661 |
| Other current assets | 231 | 234 |
| Total current assets | 3,348 | 3,177 |
| Finance receivables due after one year (net of allowance of $85 and $88, respectively) | 1,408 | 1,597 |
| Equipment on operating leases, net | 257 | 265 |
| Land, buildings and equipment, net | 245 | 266 |
| Intangible assets, net | 165 | 177 |
| Goodwill, net | 2,720 | 2,747 |
| Deferred tax assets | 749 | 745 |
| Other long-term assets | 1,052 | 1,034 |
| Total Assets | $9,944 | $10,008 |
| Liabilities and Equity | ||
| Short-term debt and current portion of long-term debt | $405 | $567 |
| Accounts payable | 1,046 | 1,044 |
| Accrued compensation and benefits costs | 213 | 306 |
| Accrued expenses and other current liabilities | 774 | 862 |
| Total current liabilities | 2,438 | 2,779 |
| Long-term debt | 3,199 | 2,710 |
| Pension and other benefit liabilities | 1,183 | 1,216 |
| Post-retirement medical benefits | 167 | 171 |
| Other long-term liabilities | 352 | 360 |
| Total Liabilities | 7,339 | 7,236 |
| Commitments and Contingencies (See Note 21) | ||
| Noncontrolling Interests | 10 | 10 |
| Convertible Preferred Stock | 214 | 214 |
| Common stock | 124 | 123 |
| Additional paid-in capital | 1,099 | 1,114 |
| Retained earnings | 4,828 | 4,977 |
| Accumulated other comprehensive loss | (3,673) | (3,676) |
| Xerox Holdings shareholders’ equity | 2,378 | 2,538 |
| Noncontrolling interests | 3 | 10 |
| Total Equity | 2,381 | 2,548 |
| Total Liabilities and Equity | $9,944 | $10,008 |
| Shares of Common Stock Issued and Outstanding | 124,185 | 123,144 |
Xerox 2024 Form 10-Q 5
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