2019 Q1 Form 10-Q Financial Statement

#000168856819000008 Filed on February 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2017 Q4
Revenue $5.280B $5.178B $5.460B
YoY Change -5.44% -5.16% 184.82%
Cost Of Revenue $3.836B $3.725B $4.521B
YoY Change -6.14% -17.61% 235.63%
Gross Profit $1.444B $1.453B $939.0M
YoY Change -3.54% 54.74% 64.74%
Gross Profit Margin 27.35% 28.06% 17.2%
Selling, General & Admin $363.0M $491.0M $447.0M
YoY Change 13.44% 9.84% 34.23%
% of Gross Profit 25.14% 33.79% 47.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $509.0M $512.0M $483.0M
YoY Change -18.82% 6.0% 194.51%
% of Gross Profit 35.25% 35.24% 51.44%
Operating Expenses $944.0M $4.709B $5.119B
YoY Change 28.09% -8.01% 174.18%
Operating Profit $500.0M $840.0M $797.0M
YoY Change -34.21% 5.4% 352.84%
Interest Expense -$3.000M $81.00M $73.00M
YoY Change -102.54% 10.96% 121.21%
% of Operating Profit -0.6% 9.64% 9.16%
Other Income/Expense, Net
YoY Change
Pretax Income $354.0M $469.0M $341.0M
YoY Change -39.8% 37.54% 582.0%
Income Tax $82.00M $3.000M -$365.0M
% Of Pretax Income 23.16% 0.64% -107.04%
Net Earnings $274.0M $462.0M $776.0M
YoY Change -51.07% -40.46% 2403.23%
Net Earnings / Revenue 5.19% 8.92% 14.21%
Basic Earnings Per Share $1.68 $2.72
Diluted Earnings Per Share $1.009M $1.66 $2.68
COMMON SHARES
Basic Shares Outstanding 268.3M shares 275.7M shares 285.4M shares
Diluted Shares Outstanding 279.0M shares 289.8M shares

Balance Sheet

Concept 2019 Q1 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.899B $2.475B $2.926B
YoY Change 11.8% -15.41% 163.37%
Cash & Equivalents $2.899B $2.475B $2.926B
Short-Term Investments
Other Short-Term Assets $359.0M $325.0M $444.0M
YoY Change -23.45% -26.8% -72.02%
Inventory
Prepaid Expenses $627.0M $626.0M $540.0M
Receivables $5.181B $5.096B $5.611B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.066B $8.522B $9.521B
YoY Change -5.76% -10.49% 80.97%
LONG-TERM ASSETS
Property, Plant & Equipment $3.179B $3.186B $3.812B
YoY Change -5.47% -16.42% -3.18%
Goodwill $7.606B $7.593B $9.320B
YoY Change -0.17% -18.53%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.429B $2.393B $2.544B
YoY Change 6.92% -5.94% 41.33%
Total Long-Term Assets $20.51B $20.35B $24.06B
YoY Change -15.61% -15.43% 304.59%
TOTAL ASSETS
Total Short-Term Assets $9.066B $8.522B $9.521B
Total Long-Term Assets $20.51B $20.35B $24.06B
Total Assets $29.57B $28.87B $33.58B
YoY Change -12.82% -14.03% 199.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.666B $1.345B $1.510B
YoY Change 10.11% -10.93% 61.84%
Accrued Expenses $3.355B $3.228B $3.403B
YoY Change 7.53% -5.14% 215.09%
Deferred Revenue $1.630B $1.542B
YoY Change -0.67%
Short-Term Debt $694.0M $800.0M $1.321B
YoY Change -19.58% -39.44% 112.38%
Long-Term Debt Due $766.0M $240.0M $128.0M
YoY Change 74.49% 87.5% 12700.0%
Total Short-Term Liabilities $9.453B $8.522B $9.638B
YoY Change -4.05% -11.58% 92.99%
LONG-TERM LIABILITIES
Long-Term Debt $5.470B $5.980B $6.367B
YoY Change -10.21% -6.08% 1524.23%
Other Long-Term Liabilities $696.0M $1.569B $1.996B
YoY Change -17.54% -21.39% 377.51%
Total Long-Term Liabilities $6.166B $1.569B $1.996B
YoY Change -11.1% -21.39% 146.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.453B $8.522B $9.638B
Total Long-Term Liabilities $6.166B $1.569B $1.996B
Total Liabilities $17.85B $17.52B $20.38B
YoY Change -11.13% -14.06% 251.14%
SHAREHOLDERS EQUITY
Retained Earnings $478.0M $274.0M $834.0M
YoY Change -63.26% -67.15%
Common Stock $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $136.0M $134.0M $83.00M
YoY Change 60.0% 61.45%
Treasury Stock Shares 1.789M shares 1.755M shares 1.001M shares
Shareholders Equity $11.40B $11.02B $12.84B
YoY Change
Total Liabilities & Shareholders Equity $29.57B $28.87B $33.58B
YoY Change -12.82% -14.03% 199.63%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $274.0M $462.0M $776.0M
YoY Change -51.07% -40.46% 2403.23%
Depreciation, Depletion And Amortization $509.0M $512.0M $483.0M
YoY Change -18.82% 6.0% 194.51%
Cash From Operating Activities $748.0M $186.0M $500.0M
YoY Change 34.29% -62.8% -11.19%
INVESTING ACTIVITIES
Capital Expenditures -$256.0M -$255.0M -$206.0M
YoY Change 48.84% 23.79% 83.93%
Acquisitions
YoY Change
Other Investing Activities $365.0M $263.0M $480.0M
YoY Change 201.65% -45.21% 5900.0%
Cash From Investing Activities $109.0M $8.000M $274.0M
YoY Change -313.73% -97.08% -363.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -480.0M -497.0M -515.0M
YoY Change -36.34% -3.5% 69.41%
NET CHANGE
Cash From Operating Activities 748.0M 186.0M 500.0M
Cash From Investing Activities 109.0M 8.000M 274.0M
Cash From Financing Activities -480.0M -497.0M -515.0M
Net Change In Cash 377.0M -303.0M 259.0M
YoY Change -252.02% -216.99% 67.1%
FREE CASH FLOW
Cash From Operating Activities $748.0M $186.0M $500.0M
Capital Expenditures -$256.0M -$255.0M -$206.0M
Free Cash Flow $1.004B $441.0M $706.0M
YoY Change 37.72% -37.54% 4.59%

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600000000 USD
CY2018Q3 dxc Transfersof Financial Assets Accountedforas Sale Securitization Facility
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250000000 USD
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438000000 USD
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14000000 USD
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3120000000 USD
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3654000000 USD
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CY2018Q1 us-gaap Additional Paid In Capital
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CY2018Q4 us-gaap Additional Paid In Capital
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17000000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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74000000 USD
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17000000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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57000000 USD
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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40000000 USD
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57000000 USD
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261000000 USD
us-gaap Amortization Of Intangible Assets
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740000000 USD
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288000000 USD
us-gaap Amortization Of Intangible Assets
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871000000 USD
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0 USD
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
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41000000 USD
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us-gaap Business Combination Integration Related Costs
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305000000 USD
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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540000000 USD
us-gaap Capital Lease Obligations Incurred
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510000000 USD
us-gaap Capital Lease Obligations Incurred
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548000000 USD
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us-gaap Cash Acquired From Acquisition
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2702000000 USD
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2729000000 USD
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750000000 shares
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us-gaap Cost Of Goods Sold Excluding Depreciation Depletion And Amortization
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11110000000 USD
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us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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4050000000 USD
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us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Impairment Loss
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
us-gaap Impairment Of Long Lived Assets Held For Use
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0 USD
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0 USD
us-gaap Impairment Of Long Lived Assets Held For Use
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341000000 USD
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716000000 USD
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469000000 USD
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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198000000 USD
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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198000000 USD
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Taxes Paid Net
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120000000 USD
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CY2018Q4 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
12452514 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
17680437.000000 shares
CY2017Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
19000000 USD
CY2017Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
47000000 USD
CY2017Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
66000000 USD
CY2018Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
324000000 USD
CY2018Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
127000000 USD
CY2018Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
797000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1248000000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
13487000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
11022000000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2166000000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12507000000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13202000000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13837000000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11837000000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11356000000 USD
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
-1668000000 USD
CY2017Q4 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2018Q4 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2017Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
77.39
CY2017Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
78.20
CY2017Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.00
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
77.96
CY2018Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
85.86
CY2018Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
87.16
CY2018Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
63.96
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
70.58
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1016947 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1754722 shares
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
85000000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
134000000 USD
CY2017Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
22000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
83000000 USD
CY2018Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
29000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
49000000 USD
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4390000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4830000 shares
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3330000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4230000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
289770000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
289530000 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
278990000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
284700000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
285380000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
284700000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
275660000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
280470000 shares
dxc Expiration Of Financial Guarantees And Standby Letters Of Credit Outstanding
ExpirationOfFinancialGuaranteesAndStandbyLettersOfCreditOutstanding
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The following table summarizes the expiration of the Company&#8217;s financial guarantees and stand-by letters of credit outstanding as of </font><font style="font-family:Arial;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:Arial;font-size:10pt;">:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="17" rowspan="1"></td></tr><tr><td style="width:40%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">(in millions)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#160;Fiscal 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Fiscal 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Fiscal 2021 and Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Totals</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Surety bonds </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">334</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">101</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">455</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Letters of credit </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">102</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">106</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">327</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">535</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Stand-by letters of credit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">23</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">45</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">94</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">162</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Totals</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">145</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">485</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">522</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">1,152</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP, requires the Company's management to make estimates and assumptions that affect amounts reported in the financial statements. The Company bases its estimates on assumptions regarding historical experience, currently available information and anticipated developments that it believes are reasonable and appropriate. However, because the use of estimates involves an inherent degree of uncertainty, actual results could differ from those estimates. In the opinion of the Company's management, the accompanying financial statements of DXC contain all adjustments, including normal recurring adjustments, necessary to present fairly the Company's financial statements. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2019 ("fiscal 2019"). </font></div></div>

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