$XRX
Xerox Holdings Corp

2024 Q2 Form 10-Q Financial Statement

#000177045024000031 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $1.578B $1.502B $1.715B
YoY Change -10.03% -12.42% 2.82%
Cost Of Revenue $1.058B $1.059B $1.126B
YoY Change -8.56% -5.95% -1.05%
Gross Profit $520.0M $443.0M $589.0M
YoY Change -12.9% -24.79% 11.13%
Gross Profit Margin 32.95% 29.49% 34.34%
Selling, General & Admin $393.0M $397.0M $407.0M
YoY Change -9.24% -2.46% -10.55%
% of Gross Profit 75.58% 89.62% 69.1%
Research & Development $50.00M $49.00M $64.00M
YoY Change -12.28% -23.44% -17.95%
% of Gross Profit 9.62% 11.06% 10.87%
Depreciation & Amortization $59.00M $59.00M $64.00M
YoY Change -4.84% -7.81% -11.11%
% of Gross Profit 11.35% 13.32% 10.87%
Operating Expenses $453.0M $456.0M $407.0M
YoY Change 4.62% 12.04% -10.55%
Operating Profit $67.00M -$13.00M $182.0M
YoY Change -59.15% -107.14% 142.67%
Interest Expense -$29.00M -$34.00M $50.00M
YoY Change -163.04% -168.0% -5.66%
% of Operating Profit -43.28% 27.47%
Other Income/Expense, Net -$27.00M -$18.00M $0.00
YoY Change -81.63% -100.0%
Pretax Income $25.00M -$150.0M $85.00M
YoY Change -128.09% -276.47% -195.51%
Income Tax $7.000M -$37.00M $14.00M
% Of Pretax Income 28.0% 16.47%
Net Earnings $15.00M -$117.0M $71.00M
YoY Change -124.59% -264.79% -226.79%
Net Earnings / Revenue 0.95% -7.79% 4.14%
Basic Earnings Per Share $0.12 -$0.94 $0.43
Diluted Earnings Per Share $0.12 -$0.94 $0.43
COMMON SHARES
Basic Shares Outstanding 124.2M shares 124.2M shares 156.4M shares
Diluted Shares Outstanding 124.2M shares 123.9M shares 156.7M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $485.0M $685.0M $591.0M
YoY Change 1.68% 15.91% -64.84%
Cash & Equivalents $485.0M $685.0M $591.0M
Short-Term Investments
Other Short-Term Assets $199.0M $231.0M $252.0M
YoY Change -8.72% -8.33% 7.69%
Inventory $737.0M $736.0M $863.0M
Prepaid Expenses
Receivables $917.0M $913.0M $818.0M
Other Receivables $713.0M $783.0M $1.022B
Total Short-Term Assets $3.051B $3.348B $3.640B
YoY Change -10.0% -8.02% -20.28%
LONG-TERM ASSETS
Property, Plant & Equipment $480.0M $502.0M $250.0M
YoY Change 85.33% 100.8% -1.57%
Goodwill $2.719B $2.720B $2.850B
YoY Change -1.16% -4.56% -13.64%
Intangibles $155.0M $165.0M $202.0M
YoY Change -20.1% -18.32% -15.83%
Long-Term Investments
YoY Change
Other Assets $1.809B $1.801B $1.331B
YoY Change 31.37% 35.31% -31.78%
Total Long-Term Assets $6.440B $6.596B $7.406B
YoY Change -10.29% -10.94% -13.03%
TOTAL ASSETS
Total Short-Term Assets $3.051B $3.348B $3.640B
Total Long-Term Assets $6.440B $6.596B $7.406B
Total Assets $9.491B $9.944B $11.05B
YoY Change -10.2% -9.98% -15.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $936.0M $1.046B $1.301B
YoY Change -10.09% -19.6% 9.97%
Accrued Expenses $981.0M $987.0M $304.0M
YoY Change 220.59% 224.67% -9.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $129.0M $405.0M $553.0M
YoY Change -85.52% -26.76% -61.86%
Total Short-Term Liabilities $2.046B $2.438B $2.879B
YoY Change -30.62% -15.32% -23.61%
LONG-TERM LIABILITIES
Long-Term Debt $3.174B $3.199B $2.726B
YoY Change 42.65% 17.35% -3.37%
Other Long-Term Liabilities $1.682B $1.702B $400.0M
YoY Change 326.9% 325.5% -15.43%
Total Long-Term Liabilities $4.856B $4.901B $400.0M
YoY Change 1132.49% 1125.25% -15.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.046B $2.438B $2.879B
Total Long-Term Liabilities $4.856B $4.901B $400.0M
Total Liabilities $6.916B $7.352B $7.355B
YoY Change -0.53% -0.04% -15.16%
SHAREHOLDERS EQUITY
Retained Earnings $4.810B $4.828B $5.162B
YoY Change -4.88% -6.47% -6.69%
Common Stock $1.238B $1.223B $1.751B
YoY Change -29.82% -30.15% 2.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.575B $2.592B $3.459B
YoY Change
Total Liabilities & Shareholders Equity $9.491B $9.944B $11.05B
YoY Change -10.2% -9.98% -15.56%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $15.00M -$117.0M $71.00M
YoY Change -124.59% -264.79% -226.79%
Depreciation, Depletion And Amortization $59.00M $59.00M $64.00M
YoY Change -4.84% -7.81% -11.11%
Cash From Operating Activities $123.0M -$79.00M $78.00M
YoY Change 29.47% -201.28% 18.18%
INVESTING ACTIVITIES
Capital Expenditures $8.000M $10.00M $6.000M
YoY Change 14.29% 66.67% -50.0%
Acquisitions $0.00 $7.000M
YoY Change -100.0% -87.04%
Other Investing Activities $6.000M -$7.000M $3.000M
YoY Change 200.0% -333.33% -40.0%
Cash From Investing Activities -$2.000M -$17.00M -$17.00M
YoY Change -60.0% 0.0% -77.33%
FINANCING ACTIVITIES
Cash Dividend Paid $37.00M $45.00M
YoY Change -17.78% -2.17%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $570.0M $452.0M
YoY Change 26.11% -30.03%
Cash From Financing Activities -336.0M 261.0M -$505.0M
YoY Change 52.73% -151.68% 238.93%
NET CHANGE
Cash From Operating Activities 123.0M -79.00M $78.00M
Cash From Investing Activities -2.000M -17.00M -$17.00M
Cash From Financing Activities -336.0M 261.0M -$505.0M
Net Change In Cash -215.0M 165.0M -$442.0M
YoY Change 65.38% -137.33% 198.65%
FREE CASH FLOW
Cash From Operating Activities $123.0M -$79.00M $78.00M
Capital Expenditures $8.000M $10.00M $6.000M
Free Cash Flow $115.0M -$89.00M $72.00M
YoY Change 30.68% -223.61% 33.33%

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