Xerox 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document and Entity Information [Abstract]
Entity Registrant Name	Xerox Corporation
Entity Central Index Key	108,772
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	1,013,303,609

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues
Sales		$ 1,145	$ 1,224	$ 2,166	$ 2,350
Outsourcing, maintenance and rentals		3,158	3,279	6,335	6,532
Financing		82	87	165	177
Total Revenues		4,385	4,590	8,666	9,059
Costs and Expenses
Cost of sales		707	776	1,331	1,450
Cost of outsourcing, maintenance and rentals		2,279	2,356	4,623	4,724
Cost of financing		32	32	65	65
Research, development and engineering expenses		128	142	262	283
Selling, administrative and general expenses		862	906	1,744	1,821
Restructuring and related costs		71	157	197	171
Amortization of intangible assets		78	79	167	156
Separation costs	[1]	28	0	36	0
Other expenses, net		55	68	112	114
Total Costs and Expenses		4,240	4,516	8,537	8,784
Income before Income Taxes and Equity Income		145	74	129	275
Income tax expense (benefit)		9	(9)	(6)	30
Equity in net income of unconsolidated affiliates		22	29	59	63
Income from Continuing Operations		158	112	194	308
Loss from discontinued operations, net of tax		0	(95)	0	(61)
Net Income		158	17	194	247
Less: Net income attributable to noncontrolling interests		3	5	5	10
Net income from continuing operations		155	107	189	298
Net Income Attributable to Xerox		$ 155	$ 12	$ 189	$ 237
Basic Earnings per Share:
Continuing operations (dollars per share)		$ 0.15	$ 0.09	$ 0.17	$ 0.26
Discontinued operations (dollars per share)		0	(0.08)	0	(0.06)
Total Basic Earnings per Share		0.15	0.01	0.17	0.20
Diluted Earnings per Share:
Continuing operations (dollars per share)		0.15	0.09	0.17	0.26
Discontinued operations (dollars per share)		0	(0.08)	0	(0.06)
Total Diluted Earnings per Share		$ 0.15	$ 0.01	$ 0.17	$ 0.20
[1]	Separation costs are expenses incurred in connection with Xerox's planned separation into two independent, publicly-traded companies. These costs are primarily for third-party investment banking, accounting, legal, consulting and other similar types of services. Refer to Note 1 - Basis of Presentation for additional information regarding Xerox's planned separation.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income		$ 158	$ 17	$ 194	$ 247
Less: Net income attributable to noncontrolling interests		3	5	5	10
Net Income Attributable to Xerox		155	12	189	237
Other Comprehensive Income (Loss), Net:
Translation adjustments, net	[1]	(77)	194	114	(315)
Unrealized gains (losses), net	[1]	24	(19)	33	10
Changes in defined benefit plans, net	[1]	20	67	(92)	165
Other Comprehensive (Loss) Income, Net	[1]	(33)	242	55	(140)
Less: Other comprehensive (loss) income, net attributable to noncontrolling interests		(1)	1	(1)	0
Other Comprehensive (Loss) Income, Net Attributable to Xerox		(32)	241	56	(140)
Comprehensive Income (Loss), Net
Comprehensive Income, Net		125	259	249	107
Less: Comprehensive income, net attributable to noncontrolling interests		2	6	4	10
Comprehensive Income, Net Attributable to Xerox		$ 123	$ 253	$ 245	$ 97
[1]	Refer to Note 15 - Other Comprehensive (Loss) Income for gross components of Other Comprehensive (Loss) Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets, Current [Abstract]
Cash and cash equivalents	$ 1,203	$ 1,368
Accounts receivable, net	2,477	2,319
Billed portion of finance receivables, net	98	97
Finance receivables, net	1,295	1,315
Inventories	1,017	942
Other current assets	761	644
Total current assets	6,851	6,685
Finance receivables due after one year, net	2,508	2,576
Equipment on operating leases, net	484	495
Land, buildings and equipment, net	973	996
Investments in affiliates, at equity	1,471	1,389
Intangible assets, net	1,605	1,765
Goodwill	8,726	8,823
Other long-term assets	2,023	2,060
Total Assets	24,641	24,789
Liabilities, Current [Abstract]
Short-term debt and current portion of long-term debt	2,029	985
Accounts payable	1,379	1,614
Accrued compensation and benefits costs	646	651
Unearned income	404	428
Other current liabilities	1,437	1,576
Total current liabilities	5,895	5,254
Long-term debt	5,355	6,354
Pension and other benefit liabilities	2,680	2,513
Post-retirement medical benefits	752	785
Other long-term liabilities	394	417
Total Liabilities	15,076	15,323
Commitments and Contingencies
Series A Convertible Preferred Stock	349	349
Common stock	1,013	1,013
Additional paid-in capital	3,047	3,017
Retained earnings	9,704	9,686
Accumulated other comprehensive loss	(4,586)	(4,642)
Xerox shareholders’ equity	9,178	9,074
Noncontrolling interests	38	43
Total Equity	9,216	9,117
Total Liabilities and Equity	$ 24,641	$ 24,789
Shares of common stock issued and outstanding	1,013,304	1,012,836

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income	$ 158	$ 17	$ 194	$ 247
Adjustments required to reconcile net income to cash flows from operating activities:
Depreciation and amortization	278	297	568	593
Provision for receivables	12	14	27	32
Provision for inventory	6	10	15	16
Net loss (gain) on sales of businesses and assets	4	74	(16)	62
Undistributed equity in net income of unconsolidated affiliates	9	(3)	(28)	(34)
Stock-based compensation	13	23	27	45
Restructuring and asset impairment charges	63	157	186	171
Payments for restructurings	(37)	(30)	(65)	(61)
Defined benefit pension cost	33	32	76	73
Contributions to defined benefit pension plans	(35)	(57)	(71)	(98)
Increase in accounts receivable and billed portion of finance receivables	(83)	(6)	(268)	(245)
Collections of deferred proceeds from sales of receivables	74	62	133	134
Decrease (increase) in inventories	7	(67)	(92)	(193)
Increase in equipment on operating leases	(68)	(69)	(130)	(139)
Decrease in finance receivables	21	6	85	78
Collections on beneficial interest from sales of finance receivables	7	12	15	27
(Increase) decrease in other current and long-term assets	(1)	11	(60)	(60)
Decrease in accounts payable and accrued compensation	(158)	(53)	(305)	(111)
Decrease in other current and long-term liabilities	(119)	(57)	(186)	(83)
Net change in income tax assets and liabilities	(27)	17	(74)	49
Net change in derivative assets and liabilities	(66)	14	(49)	2
Other operating, net	86	(55)	170	(43)
Net cash provided by operating activities	177	349	152	462
Cash Flows from Investing Activities:
Cost of additions to land, buildings and equipment	(51)	(77)	(101)	(152)
Proceeds from sales of land, buildings and equipment	1	0	20	16
Cost of additions to internal use software	(22)	(25)	(44)	(45)
Proceeds from (payments for) Businesses and Interest in Affiliates	3	930	(53)	933
Acquisitions, net of cash acquired	0	(20)	(18)	(48)
Other investing, net	2	23	4	29
Net cash (used in) provided by investing activities	(67)	831	(192)	733
Cash Flows from Financing Activities:
Net proceeds on short-term debt	249	310	998	514
Proceeds from issuance of long-term debt	5	10	9	673
Payments on long-term debt	(257)	(267)	(965)	(1,284)
Common stock dividends	(78)	(77)	(149)	(147)
Preferred stock dividends	(6)	(6)	(12)	(12)
Proceeds from issuances of common stock	2	4	3	14
Excess tax benefits from stock-based compensation	0	1	0	3
Payments to acquire treasury stock, including fees	0	(395)	0	(611)
Repurchases related to stock-based compensation	0	0	0	(1)
Distributions to noncontrolling interests	(1)	(2)	(12)	(56)
Other financing	(1)	(1)	(1)	(1)
Net cash used in financing activities	(87)	(423)	(129)	(908)
Effect of exchange rate changes on cash and cash equivalents	(9)	12	4	(57)
Increase (decrease) in cash and cash equivalents	14	769	(165)	230
Cash and cash equivalents at beginning of period	1,189	872	1,368	1,411
Cash and Cash Equivalents at End of Period	$ 1,203	$ 1,641	$ 1,203	$ 1,641

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation References herein to “we,” “us,” “our,” the “Company” and “Xerox” refer to Xerox Corporation and its consolidated subsidiaries unless the context suggests otherwise. We have prepared the accompanying unaudited Condensed Consolidated Financial Statements in accordance with the accounting policies described in our 2015 Annual Report on Form 10-K (2015 Annual Report), and the interim reporting requirements of Form 10-Q. Accordingly, certain information and note disclosures normally included in our annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. You should read these Condensed Consolidated Financial Statements in conjunction with the Consolidated Financial Statements included in our 2015 Annual Report. In our opinion, all adjustments which are necessary for a fair statement of financial position, operating results and cash flows for the interim periods presented have been made. These adjustments consist of normal recurring items. Interim results of operations are not necessarily indicative of the results of the full year. For convenience and ease of reference, we refer to the financial statement caption “Income before Income Taxes and Equity Income” as “pre-tax income.” Planned Company Separation On January 29, 2016, Xerox announced plans for the complete legal and structural separation of the Company's Business Process Outsourcing (BPO) business from its Document Technology and Document Outsourcing (DT/DO) business. Each of the businesses will operate as an independent, publicly-traded company. The transaction is intended to be tax-free for Xerox shareholders for federal income tax purposes. During second quarter 2016, we announced that the new BPO company will be named Conduent Incorporated (Conduent) and that the DT/DO company will retain the Xerox Corporation name. In addition, the CEO for each of the two new companies was announced, and an initial Form 10 registration statement for Conduent was filed with the U.S. Securities and Exchange Commission (SEC) on June 30, 2016. As part of the SEC's standard review process, we expect to receive comments from the SEC and file amendments to this filing to address SEC comments and to provide further information about the new company. Xerox has begun the process to separate and is finalizing the transaction structure, which is predicated on a spin-off of the BPO business. To effect the separation, Xerox will first undertake a series of internal transactions, following which Conduent Incorporated will hold, directly or through its subsidiaries, the BPO business. The separation will be completed by way of a pro rata distribution of Conduent Incorporated shares held by Xerox to Xerox's shareholders. Our objective is to complete the separation by year-end 2016, subject to customary regulatory approvals, the effectiveness of a Form 10 registration statement with the SEC, tax considerations, securing any necessary financing and final approval of the Xerox Board of Directors. Until the separation is complete, we will continue to operate and report as a single company, and it will continue to be business as usual for our customers and employees. In conjunction with the separation, Xerox also began a three -year strategic transformation program targeting a cumulative $ 2.4 billion of savings across all segments. The program is inclusive of ongoing activities and $600 of incremental transformation initiatives. Refer to Note 9- Restructuring Programs for additional information.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Revenue Recognition In May 2014, the FASB issued ASU 2014-09 , Revenue from Contracts with Customers (Topic 606) , to supersede nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing U.S. GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU 2014-09 is effective for our fiscal year beginning January 1, 2018, with early adoption permitted for fiscal years beginning January 1, 2017. Subsequent to the issuance of ASU 2014-09, the FASB issued the following ASU’s which amend or provide additional guidance on topics addressed in ASU 2014-09. In March 2016, the FASB issued ASU 2016-08, Revenue Recognition - Principal versus Agent (reporting revenue gross versus net). In April 2016, the FASB issued ASU 2016-10, Revenue Recognition - Identifying Performance Obligations and Licenses. In May 2016, the FASB issued ASU 2016-12, Revenue Recognition - Narrow Scope Improvements and Practical Expedients. We will adopt this standard beginning January 1, 2018, and we will use the cumulative catch-up transition method. We continue to evaluate the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements. Leases In February 2016, the FASB issued ASU 2016-02 , Leases . This update requires the recognition of leased assets and lease obligations by lessees for those leases currently classified as operating leases under existing lease guidance. Short term leases with a term of 12 months or less are not required to be recognized. The update also requires disclosure of key information about leasing arrangements to increase transparency and comparability among organizations. The accounting for lessors does not fundamentally change except for changes to conform and align guidance to the lessee guidance as well as to the new revenue recognition guidance in ASU 2014-09. This update is effective for our fiscal year beginning January 1, 2019. We are currently evaluating the impact of the adoption of ASU 2016-02 on our consolidated financial statements. Stock Compensation In March 2016, the FASB issued ASU 2016-09 , Compensation - Stock Compensation, Improvements to Employee Share-Based payment Accounting (Topic 718). This update is intended to provide simplification of the accounting for share based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This update is effective for our fiscal year beginning January 1, 2017. We are currently evaluating the impact of the adoption of ASU 2016-09 on our consolidated financial statements. Financial Instruments - Credit Losses In June 2016, the FASB issued ASU 2016-13 Financial Instruments Credit Losses - Measurement of Credit Losses on Financial Instruments, which requires measurement and recognition of expected credit losses for financial assets. The update impacts financial assets and net investment in leases that are not accounted for at fair value through net income. This update is effective for our fiscal year beginning January 1, 2020, with early adoption permitted as of January 1, 2019. We are currently evaluating the impact of the adoption of ASU 2016-13 on our consolidated financial statements. Equity Method Accounting In March 2016, the FASB issued ASU 2016-07 , Investments - Equity Method and Joint Ventures (Topic 323), Simplifying the Transition to the Equity Method of Accounting . This update eliminates the requirement that when an existing cost method investment qualifies for use of the equity method, an investor must restate its historical financial statements, as if the equity method had been used during all previous periods. Under the new guidance, at the point an investment qualifies for the equity method, any unrealized gain or loss in accumulated other comprehensive income/(loss) ("AOCI") will be recognized through earnings. This update is effective for our fiscal year beginning January 1, 2017, with early adoption permitted. The adoption of this update is not expected to have a material impact on our financial condition, results of operations or cash flows. Accounting for Income Taxes: Balance Sheet Presentation of Deferred Taxes In November 2015, the FASB issued ASU 2015-17 , Income Taxes: Balance Sheet Classification of Deferred Taxes. This update, which simplifies the presentation of deferred income taxes, requires that deferred tax liabilities and assets be classified as non-current in a classified statement of financial position. As allowed by the update, we early adopted ASU 2015-17 effective December 31, 2015 on a prospective basis. Adoption of this update resulted in a reclassification of our net current deferred tax asset and liabilities to the net non-current deferred tax asset and liabilities in our Consolidated Balance Sheet as of December 31, 2015. Prior periods were not retrospectively adjusted. The current requirement that deferred tax liabilities and assets of a tax-paying component (jurisdiction) of an entity be offset and presented as a single amount is not affected by this update. Interest In April 2015, the FASB issued ASU 2015-03 , Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15 , which indicated that the SEC staff would not object to an entity deferring and presenting debt issuance costs associated with a line-of-credit arrangement as an asset and subsequently amortizing those costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings. All of our debt issuance costs were reported as deferred charges in Other long-term assets and were $ 32 at December 31, 2015, $4 of which is related to our credit agreement. Upon adoption of this update effective January 1, 2016, we reclassified $ 28 of debt issuance costs to long-term debt. Prior periods were retroactively revised. The costs associated with our credit agreement will continue to be reported as a deferred charge in Other long-term assets. The adoption of this standard is not expected to have any effect on our financial condition, results of operations or cash flows. Other Updates In 2016 and 2015, the FASB also issued the following Accounting Standards Updates which are not expected to have a material impact on our financial condition, results of operations or cash flows when adopted in future periods. Those updates are as follows: • Financial Instruments - Classification and Measurement: ASU 2016-01 , Financial Instruments - Recognition and Measurement of Financial Instruments and Financial Liabilities. This update is effective for our fiscal year beginning January 1, 2018. • Derivatives and Hedging: ASU 2016-06 , Contingent Put and Call Options in Debt Instruments, which is effective for our fiscal year beginning January 1, 2017 with early adoption permitted. • Derivatives and Hedging: ASU 2016-05 , Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships, which is effective for our fiscal year beginning January 1, 2017 with early adoption permitted. • Business Combinations: ASU 2015-16 , Accounting for Measurement Period Adjustments in a Business Combination , which was effective for our fiscal year beginning January 1, 2016. • Inventory: ASU 2015-11 , Simplifying the Subsequent Measurement of Inventory, which is effective for our fiscal year beginning January 1, 2017. • Intangibles - Goodwill and Other - Internal Use Software: ASU 2015-05 , Intangibles-Goodwill and Other-Internal Use Software - Customer's Accounting for Fees Paid in a Cloud Computing Arrangement, which was effective for our fiscal year beginning January 1, 2016. • Consolidation: ASU 2015-02 , Consolidation (Topic 810): Amendments to the Consolidation Analysis, which was effective for our fiscal year beginning January 1, 2016. • Derivatives and Hedging: ASU 2014-16 , Derivatives and Hedging (Topic 815) - Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity, which was effective for our fiscal year beginning January 1, 2016. • Disclosures of Going Concern Uncertainties: ASU 2014-15 , Presentation of Financial Statements - Going Concern (Subtopic 205-40); Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern , which is effective for our fiscal year ending December 31, 2016. • Stock Compensation: ASU 2014-12 , Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period, which was effective for our fiscal year beginning January 1, 2016.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our reportable segments are aligned with how we manage the business and view the markets we serve. We report our financial performance based on the following two primary reportable segments – Services and Document Technology . Our Services segment operations involve delivery of business process and document outsourcing services for a broad range of customers from small businesses to large global enterprises. Our Document Technology segment includes the sale and support of a broad range of document systems from entry level to high-end. In the first quarter of 2016, we revised our segment reporting to reflect the following changes: • The transfer of the Education/Student Loan business from the Services segment to Other as a result of the expected continued run-off of this business. The business does not meet the threshold for separate segment reporting. • The exclusion of the non-service elements of our defined-benefit pension and retiree-health plan costs from Segment profit. Prior year amounts were accordingly revised to reflect these changes. The Services segment is comprised of two outsourcing service offerings: • Business Process Outsourcing (BPO) • Document Outsourcing (which includes Managed Print Services) (DO) Business process outsourcing services include service arrangements where we manage a customer’s business activity or process. We provide multi-industry offerings such as customer care, transaction processing, finance and accounting, and human resources, as well as industry-focused offerings in areas such as healthcare, transportation, financial services, retail and telecommunications. Document outsourcing services include service arrangements that allow customers to streamline, simplify and digitize their document-intensive business processes through automation and deployment of software applications and tools and the management of their printing needs. Document outsourcing also includes revenues from our partner print services offerings. Our Document Technology segment includes the sale of document systems and supplies, provision of technical service and financing of products. Our products groupings range from: • “Entry,” which includes A4 devices and desktop printers; to • “Mid-range,” which includes A3 devices that generally serve workgroup environments in mid to large enterprises and includes products that fall into the following market categories: Color 41+ ppm priced at less than $100K and Light Production 91+ ppm priced at less than $100K; to • “High-end,” which includes production printing and publishing systems that generally serve the graphic communications marketplace and large enterprises. Customers range from small and mid-sized businesses to large enterprises. Customers also include graphic communication enterprises as well as channel partners including distributors and resellers. Segment revenues reflect the sale of document systems and supplies, technical services and product financing. Other includes several units, none of which meet the thresholds for separate segment reporting. This group includes paper sales in our developing market countries, Wide Format Systems, licensing revenues, Global Imaging Systems (GIS) network integration solutions, Education/Student Loan business, electronic presentation systems and non-allocated corporate items including non-financing interest and other items included in Other expenses, net. Operating segment revenues and profitability were as follows: Three Months Ended Six Months Ended Segment Revenue Segment Profit (Loss) Segment Revenue Segment Profit(Loss) 2016 Services $ 2,470 $ 236 $ 4,952 $ 426 Document Technology 1,752 221 3,391 388 Other 163 (80 ) 323 (146 ) Total $ 4,385 $ 377 $ 8,666 $ 668 2015 Services $ 2,526 $ 181 $ 4,993 $ 368 Document Technology 1,880 235 3,710 467 Other 184 (62 ) 356 (109 ) Total $ 4,590 $ 354 $ 9,059 $ 726 Three Months Ended Six Months Ended Reconciliation to Pre-tax Income 2016 2015 2016 2015 Segment Profit $ 377 $ 354 $ 668 $ 726 Reconciling items: Restructuring and related costs (71 ) (157 ) (197 ) (171 ) Restructuring charges of Fuji Xerox (1 ) (1 ) (1 ) (2 ) Business transformation costs (1) — (3 ) (1 ) (7 ) Amortization of intangible assets (78 ) (79 ) (167 ) (156 ) Non-service retirement-related costs (2) (32 ) (10 ) (78 ) (52 ) Equity in net income of unconsolidated affiliates (22 ) (29 ) (59 ) (63 ) Separation costs (3) (28 ) — (36 ) — Other — (1 ) — — Pre-tax Income $ 145 $ 74 $ 129 $ 275 __________________________ (1) Business transformation costs represent incremental costs incurred directly in support of our business transformation and restructuring initiatives such as compensation costs for overlapping staff, consulting costs and training costs. (2) Represents the non-service elements of our defined-benefit pension and retiree-health plan costs. Refer to Note 13 - Employee Benefit Plans for details regarding these elements. (3) Separation costs are expenses incurred in connection with Xerox's planned separation into two independent, publicly-traded companies. These costs are primarily for third-party investment banking, accounting, legal, consulting and other similar types of services. Refer to Note 1 - Basis of Presentation for additional information regarding Xerox's planned separation.

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Information Technology Outsourcing (ITO) In 2014, we announced an agreement to sell our ITO business to Atos SE (Atos). As a result of this agreement, we reported the ITO business as held for sale and a discontinued operation up through its date of sale, which was completed on June 30, 2015. In February 2016, we reached an agreement with Atos on the final adjustments to the closing balance of net assets sold as well as the settlement of certain indemnifications and recorded an additional pre-tax loss on the disposal in 2015 of $24 ( $14 after-tax). This additional loss was recorded in the 2015 financial statements because the agreement with Atos was reached before the financial statements had been issued, accordingly no adjustment was required in 2016. In the first quarter 2016, we paid Atos approximately $52 , representing a $28 adjustment to the final sales price as a result of this agreement and a payment of $24 due from closing. The payment is reflected in Investing cash flows as an adjustment of the sales proceeds. Other Discontinued Operations There were no Discontinued Operations as of June 30, 2016 . Summarized financial information for our Discontinued Operations is as follows: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 ITO Other Total ITO Other Total Revenues $ 308 $ — $ 308 $ 619 $ — $ 619 Income from operations (1) 43 — 43 104 — 104 Loss on disposal (68 ) — (68 ) (72 ) — (72 ) Net (loss) income before income taxes $ (25 ) $ — $ (25 ) $ 32 $ — $ 32 Income tax expense (70 ) — (70 ) (93 ) — (93 ) Loss from discontinued operations, net of tax $ (95 ) $ — $ (95 ) $ (61 ) $ — $ (61 ) (1) ITO Income from operations excludes depreciation and amortization expenses of approximately $41 and $80 (including $7 and $14 of intangible amortization) for the three and six months ended June 30, 2015, respectively, since the business was held for sale.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net were as follows: June 30, 2016 December 31, 2015 Amounts billed or billable $ 2,209 $ 2,110 Unbilled amounts 345 289 Allowance for doubtful accounts (77 ) (80 ) Accounts Receivable, Net $ 2,477 $ 2,319 Unbilled receivables include receivables associated with percentage-of-completion accounting and other earned revenues not currently billable due to contractual provisions. Amounts to be invoiced in the subsequent month for current services provided are included in amounts billable, and at June 30, 2016 and December 31, 2015 were approximately $826 and $849 , respectively. We perform ongoing credit evaluations of our customers and adjust credit limits based upon customer payment history and current creditworthiness. The allowance for uncollectible accounts receivable is determined principally on the basis of past collection experience, as well as consideration of current economic conditions and changes in our customer collection trends. Accounts Receivable Sales Arrangements Accounts receivable sales arrangements are utilized in the normal course of business as part of our cash and liquidity management. We have facilities in the U.S., Canada and several countries in Europe that enable us to sell to third parties certain accounts receivable without recourse. The accounts receivable sold are generally short-term trade receivables with payment due dates of less than 60 days. All of our arrangements involve the sale of our entire interest in groups of accounts receivable for cash. In most instances, a portion of the sales proceeds is held back by the purchaser and payment is deferred until collection of the related receivables sold. Such holdbacks are not considered legal securities nor are they certificated. We report collections on such receivables as operating cash flows in the Condensed Consolidated Statements of Cash Flows because such receivables are the result of an operating activity and the associated interest rate risk is de minimis due to its short-term nature. Our risk of loss following the sales of accounts receivable is limited to the outstanding deferred purchase price receivable. These receivables are included in Other current assets in the accompanying Condensed Consolidated Balance Sheets and were $59 and $61 at June 30, 2016 and December 31, 2015 , respectively. Under most of the arrangements, we continue to service the sold accounts receivable. When applicable, a servicing liability is recorded for the estimated fair value of the servicing. The amounts associated with the servicing liability were not material. Of the accounts receivable sold and derecognized from our balance sheet, $603 and $660 remained uncollected as of June 30, 2016 and December 31, 2015 , respectively. Accounts receivable sales were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Accounts receivable sales $ 648 $ 586 $ 1,328 $ 1,188 Deferred proceeds 59 57 130 119 Loss on sales of accounts receivable 4 3 8 6 Estimated decrease to operating cash flows (1) (34 ) (27 ) (57 ) (10 ) __________________________ (1) Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and, (iii) currency. Finance Receivables, Net Sale of Finance Receivables In 2013 and 2012 , we transferred our entire interest in certain groups of lease finance receivables to third-party entities for cash proceeds and beneficial interests. The transfers were accounted for as sales with derecognition of the associated lease receivables. There have been no transfers of finance receivables since the year ended December 31, 2013 . We continue to service the sold receivables and record servicing fee income over the expected life of the associated receivables. The following is a summary of our prior sales activity. Year Ended December 31, 2013 2012 Net carrying value (NCV) sold $ 676 $ 682 Allowance included in NCV 17 18 Cash proceeds received 635 630 Beneficial interests received 86 101 The principal value of finance receivables derecognized from our balance sheet was $163 and $238 (sales value of approximately $154 and $256 ) at June 30, 2016 and December 31, 2015 , respectively. Summary The lease portfolios transferred and sold were from our Document Technology segment. The ultimate purchaser has no recourse to our other assets for the failure of customers to pay principal and interest when due beyond our beneficial interests, which were $26 and $38 at June 30, 2016 and December 31, 2015 , respectively, and are included in Other current assets and Other long-term assets in the accompanying Condensed Consolidated Balance Sheets. Beneficial interests of $17 and $30 at June 30, 2016 and December 31, 2015 , respectively, are held by bankruptcy-remote subsidiaries and therefore are not available to satisfy any of our creditor obligations. We report collections on the beneficial interests as operating cash flows in the Condensed Consolidated Statements of Cash Flows because such beneficial interests are the result of an operating activity, and the associated interest rate risk is de minimis considering their weighted average lives of less than 2 years. The net impact from the sales of finance receivables on operating cash flows is summarized below: Three Months Ended Six Months Ended 2016 2015 2016 2015 Impact from prior sales of finance receivables (1) $ (51 ) $ (89 ) $ (110 ) $ (194 ) Collections on beneficial interest 8 15 18 33 Estimated decrease to operating cash flows $ (43 ) $ (74 ) $ (92 ) $ (161 ) ____________________________ (1) Represents cash that would have been collected had we not sold finance receivables. Finance Receivables – Allowance for Credit Losses and Credit Quality Finance receivables include sales-type leases, direct financing leases and installment loans. Our finance receivable portfolios are primarily in the U.S., Canada and Europe. We generally establish customer credit limits and estimate the allowance for credit losses on a country or geographic basis. Our policy and methodology used to establish our allowance for doubtful accounts has been consistently applied over all periods presented. The following table is a rollforward of the allowance for doubtful finance receivables as well as the related investment in finance receivables: Allowance for Credit Losses: United States Canada Europe Other (2) Total Balance at December 31, 2015 (1) $ 54 $ 17 $ 45 $ 2 $ 118 Provision 4 1 5 — 10 Charge-offs (2 ) (2 ) (2 ) — (6 ) Recoveries and other (3) 1 2 1 — 4 Balance at March 31, 2016 $ 57 $ 18 $ 49 $ 2 $ 126 Provision — 1 7 8 Charge-offs (3 ) (2 ) (3 ) — (8 ) Recoveries and other (3) — 1 (2 ) — (1 ) Balance at June 30, 2016 $ 54 $ 18 $ 51 $ 2 $ 125 Finance receivables as of June 30, 2016 collectively evaluated for impairment (4) $ 2,149 $ 389 $ 1,424 $ 64 $ 4,026 Balance at December 31, 2014 (1) $ 51 $ 20 $ 58 $ 2 $ 131 Provision 4 1 5 1 11 Charge-offs — (3 ) (1 ) (1 ) (5 ) Recoveries and other (3) — — (6 ) — (6 ) Balance at March 31, 2015 $ 55 $ 18 $ 56 $ 2 $ 131 Provision 3 1 6 — 10 Charge-offs (3 ) (2 ) (5 ) — (10 ) Recoveries and other (3) (1 ) 1 3 — 3 Balance at June 30, 2015 $ 54 $ 18 $ 60 $ 2 $ 134 Finance receivables as of June 30, 2015 collectively evaluated for impairment (1),(4) $ 2,074 $ 397 $ 1,619 $ 66 $ 4,156 __________________ (1) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been revised to conform to current year presentation. (2) Includes developing market countries and smaller units. (3) Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (4) Total Finance receivables exclude the allowance for credit losses of $125 and $134 at June 30, 2016 and 2015 , respectively. We evaluate our customers based on the following credit quality indicators: • Investment grade: This rating includes accounts with excellent to good business credit, asset quality and the capacity to meet financial obligations. These customers are less susceptible to adverse effects due to shifts in economic conditions or changes in circumstance. The rating generally equates to a Standard & Poors (S&P) rating of BBB- or better. Loss rates in this category are normally minimal at less than 1% . • Non-investment grade: This rating includes accounts with average credit risk that are more susceptible to loss in the event of adverse business or economic conditions. This rating generally equates to a BB S&P rating. Although we experience higher loss rates associated with this customer class, we believe the risk is somewhat mitigated by the fact that our leases are fairly well dispersed across a large and diverse customer base. In addition, the higher loss rates are largely offset by the higher rates of return we obtain on such leases. Loss rates in this category are generally in the range of 2% to 4% . • Substandard: This rating includes accounts that have marginal credit risk such that the customer’s ability to make repayment is impaired or may likely become impaired. We use numerous strategies to mitigate risk including higher rates of interest, prepayments, personal guarantees, etc. Accounts in this category include customers who were downgraded during the term of the lease from investment and non-investment grade status when the lease was originated. Accordingly, there is a distinct possibility for a loss of principal and interest or customer default. The loss rates in this category are approximately 10% . Credit quality indicators are updated at least annually and the credit quality of any given customer can change during the life of the portfolio. Details about our finance receivables portfolio based on industry and credit quality indicators are as follows: June 30, 2016 December 31, 2015 (4) Investment Grade Non-investment Grade Substandard Total Finance Receivables Investment Grade Non-investment Grade Substandard Total Finance Receivables Finance and other services $ 183 $ 327 $ 93 $ 603 $ 195 $ 285 $ 91 $ 571 Government and education 554 54 6 614 575 48 7 630 Graphic arts 137 108 107 352 145 92 127 364 Industrial 85 71 24 180 89 62 22 173 Healthcare 82 48 16 146 90 46 19 155 Other 97 104 53 254 121 107 53 281 Total United States 1,138 712 299 2,149 1,215 640 319 2,174 Finance and other services 60 41 9 110 55 35 9 99 Government and education 58 7 1 66 59 7 2 68 Graphic arts 44 39 22 105 45 35 21 101 Industrial 24 13 4 41 23 12 3 38 Other 37 26 4 67 33 23 3 59 Total Canada 223 126 40 389 215 112 38 365 France 191 245 66 502 203 207 101 511 U.K./Ireland 198 83 2 283 235 91 3 329 Central (1) 207 165 23 395 206 186 25 417 Southern (2) 40 133 14 187 36 138 17 191 Nordics (3) 31 24 2 57 24 35 2 61 Total Europe 667 650 107 1,424 704 657 148 1,509 Other 41 20 3 64 41 16 1 58 Total $ 2,069 $ 1,508 $ 449 $ 4,026 $ 2,175 $ 1,425 $ 506 $ 4,106 _____________________________ (1) Switzerland, Germany, Austria, Belgium and Holland. (2) Italy, Greece, Spain and Portugal. (3) Sweden, Norway, Denmark and Finland. (4) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation. The aging of our billed finance receivables is based upon the number of days an invoice is past due and is as follows: June 30, 2016 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 9 $ 4 $ 2 $ 15 $ 588 $ 603 $ 12 Government and education 13 4 4 21 593 614 25 Graphic arts 13 1 — 14 338 352 6 Industrial 3 2 1 6 174 180 5 Healthcare 3 2 1 6 140 146 5 Other 9 2 1 12 242 254 6 Total United States 50 15 9 74 2,075 2,149 59 Canada 3 — — 3 386 389 10 France 4 — — 4 498 502 29 U.K./Ireland 2 1 — 3 280 283 1 Central (1) 3 1 1 5 390 395 8 Southern (2) 7 2 2 11 176 187 7 Nordics (3) 1 — — 1 56 57 2 Total Europe 17 4 3 24 1,400 1,424 47 Other 3 — — 3 61 64 — Total $ 73 $ 19 $ 12 $ 104 $ 3,922 $ 4,026 $ 116 December 31, 2015 (4) Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 10 $ 2 $ 2 $ 14 $ 557 $ 571 $ 14 Government and education 12 1 4 17 613 630 37 Graphic arts 12 2 1 15 349 364 8 Industrial 5 1 1 7 166 173 7 Healthcare 4 1 1 6 149 155 9 Other 14 2 2 18 263 281 7 Total United States 57 9 11 77 2,097 2,174 82 Canada 3 — — 3 362 365 9 France — — — — 511 511 25 U.K./Ireland 1 — — 1 328 329 1 Central (1) 3 1 1 5 412 417 7 Southern (2) 8 2 3 13 178 191 10 Nordics (3) 1 — — 1 60 61 4 Total Europe 13 3 4 20 1,489 1,509 47 Other 1 1 — 2 56 58 — Total $ 74 $ 13 $ 15 $ 102 $ 4,004 $ 4,106 $ 138 _____________________________ (1) Switzerland, Germany, Austria, Belgium and Holland. (2) Italy, Greece, Spain and Portugal. (3) Sweden, Norway, Denmark and Finland. (4) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.

Finance Receivables, Net

Finance Receivables, Net	6 Months Ended
	Jun. 30, 2016
Financing Receivable, Net [Abstract]
Finance Receivables, Net	Accounts Receivable, Net Accounts receivable, net were as follows: June 30, 2016 December 31, 2015 Amounts billed or billable $ 2,209 $ 2,110 Unbilled amounts 345 289 Allowance for doubtful accounts (77 ) (80 ) Accounts Receivable, Net $ 2,477 $ 2,319 Unbilled receivables include receivables associated with percentage-of-completion accounting and other earned revenues not currently billable due to contractual provisions. Amounts to be invoiced in the subsequent month for current services provided are included in amounts billable, and at June 30, 2016 and December 31, 2015 were approximately $826 and $849 , respectively. We perform ongoing credit evaluations of our customers and adjust credit limits based upon customer payment history and current creditworthiness. The allowance for uncollectible accounts receivable is determined principally on the basis of past collection experience, as well as consideration of current economic conditions and changes in our customer collection trends. Accounts Receivable Sales Arrangements Accounts receivable sales arrangements are utilized in the normal course of business as part of our cash and liquidity management. We have facilities in the U.S., Canada and several countries in Europe that enable us to sell to third parties certain accounts receivable without recourse. The accounts receivable sold are generally short-term trade receivables with payment due dates of less than 60 days. All of our arrangements involve the sale of our entire interest in groups of accounts receivable for cash. In most instances, a portion of the sales proceeds is held back by the purchaser and payment is deferred until collection of the related receivables sold. Such holdbacks are not considered legal securities nor are they certificated. We report collections on such receivables as operating cash flows in the Condensed Consolidated Statements of Cash Flows because such receivables are the result of an operating activity and the associated interest rate risk is de minimis due to its short-term nature. Our risk of loss following the sales of accounts receivable is limited to the outstanding deferred purchase price receivable. These receivables are included in Other current assets in the accompanying Condensed Consolidated Balance Sheets and were $59 and $61 at June 30, 2016 and December 31, 2015 , respectively. Under most of the arrangements, we continue to service the sold accounts receivable. When applicable, a servicing liability is recorded for the estimated fair value of the servicing. The amounts associated with the servicing liability were not material. Of the accounts receivable sold and derecognized from our balance sheet, $603 and $660 remained uncollected as of June 30, 2016 and December 31, 2015 , respectively. Accounts receivable sales were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Accounts receivable sales $ 648 $ 586 $ 1,328 $ 1,188 Deferred proceeds 59 57 130 119 Loss on sales of accounts receivable 4 3 8 6 Estimated decrease to operating cash flows (1) (34 ) (27 ) (57 ) (10 ) __________________________ (1) Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and, (iii) currency. Finance Receivables, Net Sale of Finance Receivables In 2013 and 2012 , we transferred our entire interest in certain groups of lease finance receivables to third-party entities for cash proceeds and beneficial interests. The transfers were accounted for as sales with derecognition of the associated lease receivables. There have been no transfers of finance receivables since the year ended December 31, 2013 . We continue to service the sold receivables and record servicing fee income over the expected life of the associated receivables. The following is a summary of our prior sales activity. Year Ended December 31, 2013 2012 Net carrying value (NCV) sold $ 676 $ 682 Allowance included in NCV 17 18 Cash proceeds received 635 630 Beneficial interests received 86 101 The principal value of finance receivables derecognized from our balance sheet was $163 and $238 (sales value of approximately $154 and $256 ) at June 30, 2016 and December 31, 2015 , respectively. Summary The lease portfolios transferred and sold were from our Document Technology segment. The ultimate purchaser has no recourse to our other assets for the failure of customers to pay principal and interest when due beyond our beneficial interests, which were $26 and $38 at June 30, 2016 and December 31, 2015 , respectively, and are included in Other current assets and Other long-term assets in the accompanying Condensed Consolidated Balance Sheets. Beneficial interests of $17 and $30 at June 30, 2016 and December 31, 2015 , respectively, are held by bankruptcy-remote subsidiaries and therefore are not available to satisfy any of our creditor obligations. We report collections on the beneficial interests as operating cash flows in the Condensed Consolidated Statements of Cash Flows because such beneficial interests are the result of an operating activity, and the associated interest rate risk is de minimis considering their weighted average lives of less than 2 years. The net impact from the sales of finance receivables on operating cash flows is summarized below: Three Months Ended Six Months Ended 2016 2015 2016 2015 Impact from prior sales of finance receivables (1) $ (51 ) $ (89 ) $ (110 ) $ (194 ) Collections on beneficial interest 8 15 18 33 Estimated decrease to operating cash flows $ (43 ) $ (74 ) $ (92 ) $ (161 ) ____________________________ (1) Represents cash that would have been collected had we not sold finance receivables. Finance Receivables – Allowance for Credit Losses and Credit Quality Finance receivables include sales-type leases, direct financing leases and installment loans. Our finance receivable portfolios are primarily in the U.S., Canada and Europe. We generally establish customer credit limits and estimate the allowance for credit losses on a country or geographic basis. Our policy and methodology used to establish our allowance for doubtful accounts has been consistently applied over all periods presented. The following table is a rollforward of the allowance for doubtful finance receivables as well as the related investment in finance receivables: Allowance for Credit Losses: United States Canada Europe Other (2) Total Balance at December 31, 2015 (1) $ 54 $ 17 $ 45 $ 2 $ 118 Provision 4 1 5 — 10 Charge-offs (2 ) (2 ) (2 ) — (6 ) Recoveries and other (3) 1 2 1 — 4 Balance at March 31, 2016 $ 57 $ 18 $ 49 $ 2 $ 126 Provision — 1 7 8 Charge-offs (3 ) (2 ) (3 ) — (8 ) Recoveries and other (3) — 1 (2 ) — (1 ) Balance at June 30, 2016 $ 54 $ 18 $ 51 $ 2 $ 125 Finance receivables as of June 30, 2016 collectively evaluated for impairment (4) $ 2,149 $ 389 $ 1,424 $ 64 $ 4,026 Balance at December 31, 2014 (1) $ 51 $ 20 $ 58 $ 2 $ 131 Provision 4 1 5 1 11 Charge-offs — (3 ) (1 ) (1 ) (5 ) Recoveries and other (3) — — (6 ) — (6 ) Balance at March 31, 2015 $ 55 $ 18 $ 56 $ 2 $ 131 Provision 3 1 6 — 10 Charge-offs (3 ) (2 ) (5 ) — (10 ) Recoveries and other (3) (1 ) 1 3 — 3 Balance at June 30, 2015 $ 54 $ 18 $ 60 $ 2 $ 134 Finance receivables as of June 30, 2015 collectively evaluated for impairment (1),(4) $ 2,074 $ 397 $ 1,619 $ 66 $ 4,156 __________________ (1) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been revised to conform to current year presentation. (2) Includes developing market countries and smaller units. (3) Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (4) Total Finance receivables exclude the allowance for credit losses of $125 and $134 at June 30, 2016 and 2015 , respectively. We evaluate our customers based on the following credit quality indicators: • Investment grade: This rating includes accounts with excellent to good business credit, asset quality and the capacity to meet financial obligations. These customers are less susceptible to adverse effects due to shifts in economic conditions or changes in circumstance. The rating generally equates to a Standard & Poors (S&P) rating of BBB- or better. Loss rates in this category are normally minimal at less than 1% . • Non-investment grade: This rating includes accounts with average credit risk that are more susceptible to loss in the event of adverse business or economic conditions. This rating generally equates to a BB S&P rating. Although we experience higher loss rates associated with this customer class, we believe the risk is somewhat mitigated by the fact that our leases are fairly well dispersed across a large and diverse customer base. In addition, the higher loss rates are largely offset by the higher rates of return we obtain on such leases. Loss rates in this category are generally in the range of 2% to 4% . • Substandard: This rating includes accounts that have marginal credit risk such that the customer’s ability to make repayment is impaired or may likely become impaired. We use numerous strategies to mitigate risk including higher rates of interest, prepayments, personal guarantees, etc. Accounts in this category include customers who were downgraded during the term of the lease from investment and non-investment grade status when the lease was originated. Accordingly, there is a distinct possibility for a loss of principal and interest or customer default. The loss rates in this category are approximately 10% . Credit quality indicators are updated at least annually and the credit quality of any given customer can change during the life of the portfolio. Details about our finance receivables portfolio based on industry and credit quality indicators are as follows: June 30, 2016 December 31, 2015 (4) Investment Grade Non-investment Grade Substandard Total Finance Receivables Investment Grade Non-investment Grade Substandard Total Finance Receivables Finance and other services $ 183 $ 327 $ 93 $ 603 $ 195 $ 285 $ 91 $ 571 Government and education 554 54 6 614 575 48 7 630 Graphic arts 137 108 107 352 145 92 127 364 Industrial 85 71 24 180 89 62 22 173 Healthcare 82 48 16 146 90 46 19 155 Other 97 104 53 254 121 107 53 281 Total United States 1,138 712 299 2,149 1,215 640 319 2,174 Finance and other services 60 41 9 110 55 35 9 99 Government and education 58 7 1 66 59 7 2 68 Graphic arts 44 39 22 105 45 35 21 101 Industrial 24 13 4 41 23 12 3 38 Other 37 26 4 67 33 23 3 59 Total Canada 223 126 40 389 215 112 38 365 France 191 245 66 502 203 207 101 511 U.K./Ireland 198 83 2 283 235 91 3 329 Central (1) 207 165 23 395 206 186 25 417 Southern (2) 40 133 14 187 36 138 17 191 Nordics (3) 31 24 2 57 24 35 2 61 Total Europe 667 650 107 1,424 704 657 148 1,509 Other 41 20 3 64 41 16 1 58 Total $ 2,069 $ 1,508 $ 449 $ 4,026 $ 2,175 $ 1,425 $ 506 $ 4,106 _____________________________ (1) Switzerland, Germany, Austria, Belgium and Holland. (2) Italy, Greece, Spain and Portugal. (3) Sweden, Norway, Denmark and Finland. (4) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation. The aging of our billed finance receivables is based upon the number of days an invoice is past due and is as follows: June 30, 2016 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 9 $ 4 $ 2 $ 15 $ 588 $ 603 $ 12 Government and education 13 4 4 21 593 614 25 Graphic arts 13 1 — 14 338 352 6 Industrial 3 2 1 6 174 180 5 Healthcare 3 2 1 6 140 146 5 Other 9 2 1 12 242 254 6 Total United States 50 15 9 74 2,075 2,149 59 Canada 3 — — 3 386 389 10 France 4 — — 4 498 502 29 U.K./Ireland 2 1 — 3 280 283 1 Central (1) 3 1 1 5 390 395 8 Southern (2) 7 2 2 11 176 187 7 Nordics (3) 1 — — 1 56 57 2 Total Europe 17 4 3 24 1,400 1,424 47 Other 3 — — 3 61 64 — Total $ 73 $ 19 $ 12 $ 104 $ 3,922 $ 4,026 $ 116 December 31, 2015 (4) Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 10 $ 2 $ 2 $ 14 $ 557 $ 571 $ 14 Government and education 12 1 4 17 613 630 37 Graphic arts 12 2 1 15 349 364 8 Industrial 5 1 1 7 166 173 7 Healthcare 4 1 1 6 149 155 9 Other 14 2 2 18 263 281 7 Total United States 57 9 11 77 2,097 2,174 82 Canada 3 — — 3 362 365 9 France — — — — 511 511 25 U.K./Ireland 1 — — 1 328 329 1 Central (1) 3 1 1 5 412 417 7 Southern (2) 8 2 3 13 178 191 10 Nordics (3) 1 — — 1 60 61 4 Total Europe 13 3 4 20 1,489 1,509 47 Other 1 1 — 2 56 58 — Total $ 74 $ 13 $ 15 $ 102 $ 4,004 $ 4,106 $ 138 _____________________________ (1) Switzerland, Germany, Austria, Belgium and Holland. (2) Italy, Greece, Spain and Portugal. (3) Sweden, Norway, Denmark and Finland. (4) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories The following is a summary of Inventories by major category: June 30, 2016 December 31, 2015 Finished goods $ 855 $ 792 Work-in-process 65 51 Raw materials 97 99 Total Inventories $ 1,017 $ 942

Investment in Affiliates, at Eq

Investment in Affiliates, at Equity	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Affiliates, at Equity	Investment in Affiliates, at Equity Our equity in net income of unconsolidated affiliates was as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Fuji Xerox $ 19 $ 25 $ 52 $ 56 Other investments 3 4 7 7 Total Equity in Net Income of Unconsolidated Affiliates $ 22 $ 29 $ 59 $ 63 Fuji Xerox Equity in net income of Fuji Xerox is affected by certain adjustments required to reflect the deferral of profit associated with intercompany sales. These adjustments may result in recorded equity income that is different from that implied by our 25% ownership interest. Condensed financial data of Fuji Xerox was as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Summary of Operations: Revenues $ 2,450 $ 2,389 $ 5,128 $ 5,120 Costs and expenses 2,329 2,211 4,793 4,731 Income before income taxes 121 178 335 389 Income tax expense 44 63 109 129 Net Income 77 115 226 260 Less: Net income – noncontrolling interests 1 2 3 4 Net Income – Fuji Xerox $ 76 $ 113 $ 223 $ 256 Weighted Average Exchange Rate (1) 107.84 121.39 111.62 120.27 _____________________________ (1) Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs

Restructuring Programs	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring Programs	Restructuring Programs During the six months ended June 30, 2016 , we recorded net restructuring and asset impairment charges of $186 , which included approximately $197 of severance costs related to headcount reductions of approximately 6,100 employees worldwide, $4 of lease cancellation costs and $2 of asset impairments. These costs were offset by $12 of net reversals, primarily resulting from changes in estimated reserves from prior period initiatives, as well as a gain of $5 from the sale of real estate impaired in prior periods. We also recorded $11 of costs during the six months ended June 30, 2016 , primarily related to professional support services associated with the implementation of the strategic transformation program. Information related to restructuring program activity during the six months ended June 30, 2016 is outlined below: Severance and Related Costs Lease Cancellation and Other Costs Asset Impairments (2) Total Balance at December 31, 2015 $ 22 $ 2 $ — $ 24 Provision 197 4 2 203 Reversals (12 ) — (5 ) (17 ) Net Current Period Charges (1) 185 4 (3 ) 186 Charges against reserve and currency (64 ) (5 ) 3 (66 ) Balance at June 30, 2016 $ 143 $ 1 $ — $ 144 _____________________________ (1) Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairments charges. (2) Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision. Reconciliation to the Condensed Consolidated Statements of Cash Flows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Charges against reserve $ (39 ) $ (175 ) $ (66 ) $ (212 ) Asset impairments 2 146 2 146 Effects of foreign currency and other non-cash items — (1 ) (1 ) 5 Restructuring Cash Payments $ (37 ) $ (30 ) $ (65 ) $ (61 ) The following table summarizes the total amount of costs incurred in connection with these restructuring programs by segment: Three Months Ended Six Months Ended 2016 2015 2016 2015 Services (1) $ 25 $ 149 $ 62 $ 154 Document Technology 42 8 128 17 Other (4 ) — (4 ) — Total Net Restructuring Charges $ 63 $ 157 $ 186 $ 171 _____________________________ (1) The three and six months ended June 30, 2015 includes $146 of software asset impairment charges.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt Term Loan Facility On March 4, 2016, Xerox Corporation entered into a $1.0 billion senior unsecured term facility. The facility was fully drawn by April 1, 2016 ( $750 was drawn on March 11, 2016 and $ 250 on April 1, 2016) and must be repaid on the earlier of 364 days or upon receipt of financing related to the separation of Xerox into two independent publicly traded companies. Refer to Note 1- Basis of Presentation for information regarding the planned Company separation. Borrowings under the facility currently bear interest at a rate of LIBOR plus 1.50% and current interest rates vary between 2.13% and 2.16% . The proceeds of the facility were used to repay maturing debt of $ 950 ($ 700 of 6.40% Senior Notes on March 15, 2016 and $ 250 of 7.20% Notes on April 1, 2016). Interest Expense and Income Interest expense and interest income were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Interest expense (1) $ 81 $ 88 $ 169 $ 177 Interest income (2) 84 89 169 181 ____________ (1) Includes Equipment financing interest as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of Income. (2) Includes Finance income as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of Income.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments Interest Rate Risk Management We use interest rate swap agreements to manage our interest rate exposure and to achieve a desired proportion of variable and fixed rate debt. These derivatives may be designated as fair value hedges or cash flow hedges depending on the nature of the risk being hedged. Fair Value Hedges As of June 30, 2016 , pay variable/receive fixed interest rate swaps with notional amounts of $300 and net asset fair value of $18 were designated and accounted for as fair value hedges. The swaps were structured to hedge the fair value of related debt by converting them from fixed rate instruments to variable rate instruments. The following is a summary of our fair value hedges at June 30, 2016 : Debt Instrument Year First Designated Notional Amount Net Fair Value Weighted Average Interest Rate Paid Interest Rate Received Basis Maturity Senior Note 2021 2014 $ 300 $ 18 2.52 % 4.5 % Libor 2021 Foreign Exchange Risk Management We are a global company that is exposed to foreign currency exchange rate fluctuations in the normal course of our business. As a part of our foreign exchange risk management strategy, we use derivative instruments, primarily forward contracts and purchased option contracts, to hedge the following foreign currency exposures, thereby reducing volatility of earnings or protecting fair values of assets and liabilities: • Foreign currency-denominated assets and liabilities • Forecasted purchases and sales in foreign currency At June 30, 2016 and December 31, 2015, we had outstanding forward exchange and purchased option contracts with gross notional values of $2,843 and $3,212 respectively, with terms less than 12 months. The associated currency exposures being hedged at June 30, 2016 were consistent with year-end, and there has not been any material change in our hedging strategy. Foreign Currency Cash Flow Hedges We designate a portion of our foreign currency derivative contracts as cash flow hedges of our foreign currency-denominated expenses. The net asset/(liability) fair value of these contracts were $37 and $(1) as of June 30, 2016 and December 31, 2015 , respectively. Summary of Derivative Instruments Fair Value The following table provides a summary of the fair value amounts of our derivative instruments: Designation of Derivatives Balance Sheet Location June 30, 2016 December 31, 2015 Derivatives Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 39 $ 4 Other current liabilities (2 ) (4 ) Foreign currency options Other current liabilities — (1 ) Interest rate swaps Other long-term assets 18 7 Net Designated Derivative Asset $ 55 $ 6 Derivatives NOT Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 115 $ 51 Other current liabilities (12 ) (8 ) Net Undesignated Derivative Asset $ 103 $ 43 Summary of Derivatives Total Derivative Assets $ 172 $ 62 Total Derivative Liabilities (14 ) (13 ) Net Derivative Asset $ 158 $ 49 Summary of Derivative Instruments Gains (Losses) Derivative gains (losses) affect the income statement based on whether such derivatives are designated as hedges of underlying exposures. The following is a summary of derivative gains (losses). Designated Derivative Instruments Gains (Losses) The following table provides a summary of gains (losses) on derivative instruments: Three Months Ended Six Months Ended Gain (Loss) on Derivative Instruments 2016 2015 2016 2015 Fair Value Hedges - Interest rate contracts Derivative gain (loss) recognized in interest expense $ 2 $ (4 ) $ 11 $ — Hedged item (loss) gain recognized in interest expense (2 ) 4 (11 ) — Cash Flow Hedges - Foreign exchange forward contracts and options Derivative gain (loss) recognized in OCI (effective portion) $ 41 $ (24 ) $ 57 $ 7 Derivative gain (loss) reclassified from AOCI to income - Cost of sales (effective portion) 8 — 7 (10 ) During the three and six months ended June 30, 2016 and 2015, no amount of ineffectiveness was recorded in earnings for these designated cash flow hedges and all components of each derivative’s gain (loss) was included in the assessment of hedge effectiveness. In addition, no amount was recorded for an underlying exposure that did not occur or was not expected to occur. At June 30, 2016 , a net after-tax gain of $33 was recorded in accumulated other comprehensive loss associated with our cash flow hedging activity. The entire balance is expected to be reclassified into net income within the next 12 months, providing an offsetting economic impact against the underlying anticipated transactions. Non-Designated Derivative Instruments Gains (Losses) Non-designated derivative instruments are primarily instruments used to hedge foreign currency-denominated assets and liabilities. They are not designated as hedges since there is a natural offset for the re-measurement of the underlying foreign currency-denominated asset or liability. The following table provides a summary of gains on non-designated derivative instruments: Derivatives NOT Designated as Hedging Instruments Three Months Ended Six Months Ended Location of Derivative Gain (Loss) 2016 2015 2016 2015 Foreign exchange contracts – forwards Other expense – Currency gains (loss), net $ 78 $ (50 ) $ 149 $ (35 ) Net currency gains and losses are included in Other expenses, net and include the mark-to-market adjustments of the derivatives not designated as hedging instruments and the related cost of those derivatives as well as the re-measurement of foreign currency-denominated assets and liabilities. For the three and six months ended June 30, 2016 , currency gains (losses), net were $3 and $(1) , respectively. For the three and six months ended June 30, 2015 , currency gains (losses), net were $5 and $(1) , respectively.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	Fair Value of Financial Assets and Liabilities The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs. June 30, 2016 December 31, 2015 Assets: Foreign exchange contracts - forwards $ 154 $ 55 Interest rate swaps 18 7 Deferred compensation investments in cash surrender life insurance 94 92 Deferred compensation investments in mutual funds 35 33 Total $ 301 $ 187 Liabilities: Foreign exchange contracts - forwards $ 14 $ 12 Foreign currency options — 1 Deferred compensation plan liabilities 127 125 Total $ 141 $ 138 We utilize the income approach to measure the fair value for our derivative assets and liabilities. The income approach uses pricing models that rely on market observable inputs such as yield curves, currency exchange rates and forward prices, and therefore are classified as Level 2. Fair value for our deferred compensation plan investments in Company-owned life insurance is reflected at cash surrender value. Fair value for our deferred compensation plan investments in mutual funds is based on quoted market prices for actively traded investments similar to those held by the plan. Fair value for deferred compensation plan liabilities is based on the fair value of investments corresponding to employees’ investment selections, based on quoted prices for similar assets in actively traded markets. Summary of Other Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis The estimated fair values of our other financial assets and liabilities not measured at fair value on a recurring basis were as follows: June 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents $ 1,203 $ 1,203 $ 1,368 $ 1,368 Accounts receivable, net 2,477 2,477 2,319 2,319 Short-term debt 2,029 2,048 985 976 Long-term debt 5,355 5,394 6,354 6,395 The fair value amounts for Cash and cash equivalents and Accounts receivable, net, approximate carrying amounts due to the short maturities of these instruments. The fair value of Short and Long-term debt was estimated based on the current rates offered to us for debt of similar maturities (Level 2). The difference between the fair value and the carrying value represents the theoretical net premium or discount we would pay or receive to retire all debt at such date.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The components of Net periodic benefit cost and other changes in plan assets and benefit obligations were as follows: Three Months Ended June 30, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health Components of Net Periodic Benefit Costs: 2016 2015 2016 2015 2016 2015 Service cost $ 1 $ 1 $ 10 $ 9 $ 2 $ 2 Interest cost 35 38 53 53 8 8 Expected return on plan assets (36 ) (38 ) (69 ) (74 ) — — Recognized net actuarial loss 7 6 17 21 — 1 Amortization of prior service credit (1 ) — (1 ) (2 ) (1 ) (8 ) Recognized settlement loss 17 18 — — — — Recognized curtailment gain — — — — — (22 ) Defined Benefit Plans 23 25 10 7 9 (19 ) Defined contribution plans 15 15 10 11 n/a n/a Net Periodic Benefit Cost 38 40 20 18 9 (19 ) Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income): Net actuarial loss (gain) (2) 134 (140 ) — (2 ) (34 ) (58 ) Amortization of prior service credit 1 — 1 2 1 8 Amortization of net actuarial loss (24 ) (24 ) (17 ) (21 ) — (1 ) Curtailment gain - recognition of net prior service credit — — — — — 22 Total Recognized in Other Comprehensive Loss (Income) (3) 111 (164 ) (16 ) (21 ) (33 ) (29 ) Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income) $ 149 $ (124 ) $ 4 $ (3 ) $ (24 ) $ (48 ) Six Months Ended June 30, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health Components of Net Periodic Benefit Costs: 2016 2015 2016 2015 2016 2015 Service cost $ 2 $ 2 $ 16 $ 17 $ 3 $ 4 Interest cost 73 76 105 106 16 17 Expected return on plan assets (76 ) (76 ) (133 ) (147 ) — — Recognized net actuarial loss 12 13 34 40 1 1 Amortization of prior service credit (1 ) (1 ) (2 ) (2 ) (2 ) (15 ) Recognized settlement loss 46 45 — — — — Recognized curtailment gain — — — — — (22 ) Defined Benefit Plans 56 59 20 14 18 (15 ) Defined contribution plans (1) 29 31 20 20 n/a n/a Net Periodic Benefit Cost 85 90 40 34 18 (15 ) Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income): Net actuarial loss (gain) (2) 257 (52 ) — (2 ) (34 ) (58 ) Amortization of prior service credit 1 1 2 2 2 15 Amortization of net actuarial loss (58 ) (58 ) (34 ) (40 ) (1 ) (1 ) Curtailment gain - recognition of net prior service credit — — — — — 22 Total Recognized in Other Comprehensive Loss (Income) (3) 200 (109 ) (32 ) (40 ) (33 ) (22 ) Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income) $ 285 $ (19 ) $ 8 $ (6 ) $ (15 ) $ (37 ) _____________________________ (1) The six months ended June 30, 2015 excludes defined contribution expense of $4 related to our ITO business, which was reported as a discontinued operation up to its sale on June 30, 2015. Refer to Note 4 - Divestitures for additional information regarding this sale. (2) The net actuarial loss (gain) for U.S. Plans primarily reflects (i) the remeasurement of our primary U.S. pension plans as a result of the payment of periodic settlements; and (ii) adjustments for the actuarial valuation results based on January 1 st plan census data. (3) Amounts represent the pre-tax effect included within Other comprehensive loss. Refer to Note 15 - Other Comprehensive (Loss) Income for related tax effects and the after-tax amounts. Contributions The following table summarizes cash contributions to our defined benefit pension plans and retiree health benefit plans. Six Months Ended June 30, Year Ended December 31, 2016 2015 Est. 2016 (1) 2015 U.S. Plans $ 13 $ 13 $ 25 $ 177 Non-U.S. Plans 58 85 115 132 Total $ 71 $ 98 $ 140 $ 309 Retiree Health $ 30 $ 29 $ 65 $ 63 ___________ (1) These full year estimates are based on current expectations that we will make additional 2016 cash contributions of $69 ( $12 U.S. and $57 Non-U.S) to our defined benefit pension plans and $35 to our retiree health benefit plans. The 2016 expected pension plan contributions do not include any planned contributions for our domestic tax-qualified defined benefit plans because none are required to meet the minimum funding requirements. However, the desirability of making additional contributions will continue to be assessed, and we may voluntarily decide to contribute to these plans later in 2016. Plan Amendments In June 2015, we amended our U.S. Retiree Health Plan to eliminate future benefit accruals for active salaried employees effective December 31, 2015. There was no change in benefits for union employees or existing retirees or employees that retire before December 31, 2015. As a result of this plan amendment, we recognized a pre-tax curtailment gain of $ 22 in the second quarter 2015. The gain represents the recognition of deferred gains from other prior-year amendments (“prior service credits”) as a result of the discontinuation of the future benefit or service accrual period for active salaried employees.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Common Stock Additional Paid-in Capital Retained Earnings AOCL (3) Xerox Shareholders’ Equity Non-controlling Interests Total Equity Balance at December 31, 2015 $ 1,013 $ 3,017 $ 9,686 $ (4,642 ) $ 9,074 $ 43 $ 9,117 Comprehensive income, net — — 189 56 245 4 249 Cash dividends declared - common (1) — — (159 ) — (159 ) — (159 ) Cash dividends declared - preferred (2) — — (12 ) — (12 ) — (12 ) Stock option and incentive plans, net — 30 — — 30 — 30 Distributions to noncontrolling interests — — — — — (9 ) (9 ) Balance at June 30, 2016 $ 1,013 $ 3,047 $ 9,704 $ (4,586 ) $ 9,178 $ 38 $ 9,216 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (3) Xerox Shareholders’ Equity Non- controlling Interests Total Equity Balance at December 31, 2014 $ 1,124 $ 4,283 $ (105 ) $ 9,535 $ (4,159 ) $ 10,678 $ 75 $ 10,753 Comprehensive income (loss), net — — — 237 (140 ) 97 10 107 Cash dividends declared - common (1) — — — (155 ) — (155 ) — (155 ) Cash dividends declared - preferred (2) — — — (12 ) — (12 ) — (12 ) Stock option and incentive plans, net 3 54 — — — 57 — 57 Payments to acquire treasury stock, including fees — — (611 ) — — (611 ) — (611 ) Cancellation of treasury stock (30 ) (370 ) 400 — — — — — Distributions to noncontrolling interests — — — — — — (42 ) (42 ) Balance at June 30, 2015 $ 1,097 $ 3,967 $ (316 ) $ 9,605 $ (4,299 ) $ 10,054 $ 43 $ 10,097 _____________________________ (1) Cash dividends declared on common stock of $0.0775 per share in each quarter of 2016 and $0.07 per share in each quarter of 2015 . (2) Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2016 and 2015 . (3) Refer to Note 15 - Other Comprehensive (Loss) Income for components of AOCL. Treasury Stock There were no repurchases of Xerox Common Stock pursuant to Board authorized share repurchase programs during the second quarter 2016.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income (Loss) [Abstract]
Other Comprehensive (Loss) Income	Other Comprehensive (Loss) Income Other Comprehensive (Loss) Income is comprised of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Translation Adjustments (Losses) Gains $ (75 ) $ (77 ) $ 191 $ 194 $ 118 $ 114 $ (315 ) $ (315 ) Unrealized Gains (Losses): Changes in fair value of cash flow hedges - gains (losses) 41 30 (24 ) (18 ) 57 39 7 7 Changes in cash flow hedges reclassed to earnings (1) (8 ) (5 ) — (1 ) (7 ) (5 ) 10 4 Other (losses) gains (1 ) (1 ) 1 — (1 ) (1 ) — (1 ) Net Unrealized Gains (Losses) 32 24 (23 ) (19 ) 49 33 17 10 Defined Benefit Plans (Losses) Gains: Net actuarial (losses) gains (100 ) (62 ) 200 123 (223 ) (138 ) 112 69 Prior service amortization (2) (3 ) (2 ) (32 ) (19 ) (5 ) (3 ) (40 ) (24 ) Actuarial loss amortization/settlement (2) 41 28 46 32 93 63 99 67 Fuji Xerox changes in defined benefit plans, net (3) (25 ) (25 ) 8 8 (100 ) (100 ) 27 27 Other gains (losses) (4) 81 81 (76 ) (77 ) 86 86 27 26 Changes in Defined Benefit Plans (Losses) Gains (6 ) 20 146 67 (149 ) (92 ) 225 165 Other Comprehensive (Loss) Income (49 ) (33 ) 314 242 18 55 (73 ) (140 ) Less: Other comprehensive (loss) income attributable to noncontrolling interests (1 ) (1 ) 1 1 (1 ) (1 ) — — Other Comprehensive (Loss) Income Attributable to Xerox $ (48 ) $ (32 ) $ 313 $ 241 $ 19 $ 56 $ (73 ) $ (140 ) _____________________________ (1) Reclassified to Cost of sales - refer to Note 11 - Financial Instruments for additional information regarding our cash flow hedges. (2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information. (3) Represents our share of Fuji Xerox's benefit plan changes. (4) Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits in AOCL. Accumulated Other Comprehensive Loss (AOCL) AOCL is comprised of the following: June 30, 2016 December 31, 2015 Cumulative translation adjustments $ (2,287 ) $ (2,402 ) Other unrealized gains, net 34 1 Benefit plans net actuarial losses and prior service credits (1) (2,333 ) (2,241 ) Total Accumulated Other Comprehensive Loss Attributable to Xerox $ (4,586 ) $ (4,642 ) _____________________________ (1) Includes our share of Fuji Xerox.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following table sets forth the computation of basic and diluted earnings per share of common stock (shares in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Basic Earnings per Share: Net income from continuing operations attributable to Xerox $ 155 $ 107 $ 189 $ 298 Accrued dividends on preferred stock (6 ) (6 ) (12 ) (12 ) Net Income From Continuing Operations Available to Common Shareholders 149 101 177 286 Net loss from discontinued operations attributable to Xerox — (95 ) — (61 ) Net Income Available to Common Shareholders $ 149 $ 6 $ 177 $ 225 Weighted average common shares outstanding 1,013,284 1,087,720 1,013,164 1,098,370 Basic Earnings per Share: Continuing operations $ 0.15 $ 0.09 $ 0.17 $ 0.26 Discontinued operations — (0.08 ) — (0.06 ) Total $ 0.15 $ 0.01 $ 0.17 $ 0.20 Diluted Earnings per Share: Net income from continuing operations attributable to Xerox $ 155 $ 107 $ 189 $ 298 Accrued dividends on preferred stock (6 ) (6 ) (12 ) (12 ) Net Income From Continuing Operations Available to Common Shareholders $ 149 $ 101 $ 177 $ 286 Net loss from discontinued operations attributable to Xerox — (95 ) — (61 ) Net Income Available to Common Shareholders $ 149 $ 6 $ 177 $ 225 Weighted average common shares outstanding - Basic 1,013,284 1,087,720 1,013,164 1,098,370 Common shares issuable with respect to: Stock options 822 1,409 837 1,615 Restricted stock and performance shares 7,915 16,140 7,156 15,300 Convertible preferred stock — — — — Weighted Average Common Shares Outstanding - Diluted 1,022,021 1,105,269 1,021,157 1,115,285 Diluted Earnings per Share: Continuing operations $ 0.15 $ 0.09 $ 0.17 $ 0.26 Discontinued operations — (0.08 ) — (0.06 ) Total $ 0.15 $ 0.01 $ 0.17 $ 0.20 The following securities were not included in the computation of diluted earnings per share as they were either contingently issuable shares or shares that if included would have been anti-dilutive: Stock options 1,944 2,590 1,930 2,384 Restricted stock and performance shares 15,909 13,981 16,669 14,820 Convertible preferred stock 26,966 26,966 26,966 26,966 Total Anti-Dilutive Securities 44,819 43,537 45,565 44,170 Dividends per Common Share $ 0.0775 $ 0.0700 $ 0.1550 $ 0.1400

Contingencies and Litigation

Contingencies and Litigation	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Contingencies and Litigation Legal Matters We are involved in a variety of claims, lawsuits, investigations and proceedings concerning securities law, intellectual property law, environmental law, employment law, commercial and contracts law, the Employee Retirement Income Security Act (ERISA) and regulatory matters. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs. Brazil Tax and Labor Contingencies Our Brazilian operations are involved in various litigation matters and have received, or been the subject of, numerous governmental assessments related to indirect and other taxes, as well as disputes associated with former employees and contract labor. The tax matters, which comprise a significant portion of the total contingencies, principally relate to claims for taxes on the internal transfer of inventory, municipal service taxes on rentals, gross revenue taxes and import taxes and duties. We are disputing these tax matters and intend to vigorously defend our position. Based on the opinion of legal counsel and current reserves for those matters deemed probable of loss, we do not believe that the ultimate resolution of these matters will materially impact our results of operations, financial position or cash flows. The labor matters principally relate to claims made by former employees and contract labor for the equivalent payment of all social security and other related labor benefits, as well as consequential tax claims, as if they were regular employees. As of June 30, 2016 , the total amounts related to the unreserved portion of the tax and labor contingencies, inclusive of any related interest, amounted to approximately $751 , with the increase from December 31, 2015 balance of approximately $577 primarily related to currency and interest. With respect to the unreserved balance of $751 , the majority has been assessed by management as being remote as to the likelihood of ultimately resulting in a loss to the Company. In connection with the above proceedings, customary local regulations may require us to make escrow cash deposits or post other security of up to half of the total amount in dispute. As of June 30, 2016 , we had $87 of escrow cash deposits for matters we are disputing, and there are liens on certain Brazilian assets with a net book value of $18 , and additional letters of credit and surety bonds of approximately $143 and $88 , respectively, which include associated indexation. Generally, any escrowed amounts would be refundable and any liens would be removed to the extent the matters are resolved in our favor. We routinely assess all these matters as to probability of ultimately incurring a liability against our Brazilian operations and record our best estimate of the ultimate loss in situations where we assess the likelihood of an ultimate loss as probable. Litigation Against the Company State of Texas v. Xerox Corporation, Xerox State Healthcare, LLC, and ACS State Healthcare, LLC: On May 9, 2014, the State of Texas, via the Texas Office of Attorney General (the “State”), filed a lawsuit in the 53rd Judicial District Court of Travis County, Texas. The lawsuit alleges that Xerox Corporation, Xerox State Healthcare, LLC and ACS State Healthcare (collectively, the "Xerox Defendants") violated the Texas Medicaid Fraud Prevention Act in the administration of its contract with the Texas Department of Health and Human Services (“HHSC”). The State alleges that the Xerox Defendants made false representations of material facts regarding the processes, procedures, implementation and results regarding the prior authorization of orthodontic claims. The State seeks recovery of actual damages, two times the amount of any overpayments made as a result of unlawful acts, civil penalties, pre- and post-judgment interest and all costs and attorneys’ fees. The State references the amount in controversy as exceeding hundreds of millions of dollars. The Xerox Defendants filed their Answer in June, 2014 denying all allegations. The Xerox Defendants will continue to vigorously defend themselves in this matter. We do not believe it is probable that we will incur a material loss in excess of the amount accrued for this matter. In the course of litigation, we periodically engage in discussions with plaintiff’s counsel for possible resolution of the matter. Should developments cause a change in our determination as to an unfavorable outcome, or result in a final adverse judgment or settlement for a significant amount, there could be a material adverse effect on our results of operations, cash flows and financial position in the period in which such change in determination, judgment or settlement occurs. Other Matters On January 5, 2016, the Consumer Financial Protection Bureau (CFPB) notified Xerox Education Services, Inc. (XES) that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise (NORA) process, the CFPB’s Office of Enforcement is considering recommending that the CFPB take legal action against XES, alleging that XES violated the Consumer Financial Protection Act’s prohibition of unfair practices. Should the CFPB commence an action, it may seek restitution, civil monetary penalties, injunctive relief or other corrective action. The purpose of a NORA letter is to provide a party being investigated an opportunity to present its position to the CFPB before an enforcement action is recommended or commenced. This notice stems from an inquiry that commenced in 2014 when the Company, through XES, received and responded to a Civil Investigative Demand containing a broad request for information. During this process, XES self-disclosed to the Department of Education and the CFPB certain adjustments it had become aware that had not been timely made relating to its servicing of a small percentage of third-party student loans under outsourcing arrangements for various financial institutions. The CFPB and the Department of Education, as well as certain states' attorney general offices and other regulatory agencies, began similar reviews. The Company has cooperated and continues to fully cooperate with all regulatory agencies, and XES has submitted its NORA response. The Company cannot provide assurance that the CFPB or another party will not ultimately commence a legal action against XES in this matter nor is the Company able to predict the likely outcome of the investigations into this matter. Other Contingencies We have issued or provided the following guarantees as of June 30, 2016 : • $367 for letters of credit issued to (i) guarantee our performance under certain services contracts; (ii) support certain insurance programs; and (iii) support our obligations related to the Brazil tax and labor contingencies. • $783 for outstanding surety bonds. Certain contracts, primarily those involving public sector customers, require us to provide a surety bond as a guarantee of our performance of contractual obligations. In general, we would only be liable for the amount of these guarantees in the event of default in our performance of our obligations under each contract; the probability of which we believe is remote. We believe that our capacity in the surety markets as well as under various credit arrangements (including our Credit Facility) is sufficient to allow us to respond to future requests for proposals that require such credit support. We have service arrangements where we service third party student loans in the Federal Family Education Loan program (FFEL) on behalf of various financial institutions. We service these loans for investors under outsourcing arrangements and do not acquire any servicing rights that are transferable by us to a third party. At June 30, 2016 , we serviced a FFEL portfolio of approximately 1.7 million loans with an outstanding principal balance of approximately $25.5 billion. Some servicing agreements contain provisions that, under certain circumstances, require us to purchase the loans from the investor if the loan guaranty has been permanently terminated as a result of a loan default caused by our servicing error. If defaults caused by us are cured during an initial period, any obligation we may have to purchase these loans expires. Loans that we purchase may be subsequently cured, the guaranty reinstated and the loans repackaged for sale to third parties. We evaluate our exposure under our purchase obligations on defaulted loans and establish a reserve for potential losses, or default liability reserve, through a charge to the provision for loss on defaulted loans purchased. The reserve is evaluated periodically and adjusted based upon management’s analysis of the historical performance of the defaulted loans. As of June 30, 2016 , other current liabilities included reserves of approximately $4 for losses on defaulted loans purchased. In addition to potential purchase obligations arising from servicing errors, various laws and regulations applicable to student loan borrowers could give rise to fines, penalties and other liabilities associated with loan servicing errors. Indemnifications We have indemnified, subject to certain deductibles and limits, the purchasers of businesses or divested assets for the occurrence of specified events under certain of our divestiture agreements. Where appropriate, an obligation for such indemnifications is recorded as a liability. Since the obligated amounts of these types of indemnifications are often not explicitly stated and/or are contingent on the occurrence of future events, the overall maximum amount of the obligation under such indemnifications cannot be reasonably estimated. Other than obligations recorded as liabilities at the time of divestiture, we have not historically made significant payments for these indemnifications. Additionally, under certain of our acquisition agreements, we have provided for additional consideration to be paid to the sellers if established financial targets are achieved post-closing. We have recognized liabilities for these contingent obligations based on an estimate of the fair value of these contingencies at the time of acquisition. Contingent obligations related to indemnifications arising from our divestitures and contingent consideration provided for by our acquisitions are not expected to be material to our financial position, results of operations or cash flows.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Operating segment revenues and profitability	Operating segment revenues and profitability were as follows: Three Months Ended Six Months Ended Segment Revenue Segment Profit (Loss) Segment Revenue Segment Profit(Loss) 2016 Services $ 2,470 $ 236 $ 4,952 $ 426 Document Technology 1,752 221 3,391 388 Other 163 (80 ) 323 (146 ) Total $ 4,385 $ 377 $ 8,666 $ 668 2015 Services $ 2,526 $ 181 $ 4,993 $ 368 Document Technology 1,880 235 3,710 467 Other 184 (62 ) 356 (109 ) Total $ 4,590 $ 354 $ 9,059 $ 726
Reconciliation to pre-tax income (loss)	Three Months Ended Six Months Ended Reconciliation to Pre-tax Income 2016 2015 2016 2015 Segment Profit $ 377 $ 354 $ 668 $ 726 Reconciling items: Restructuring and related costs (71 ) (157 ) (197 ) (171 ) Restructuring charges of Fuji Xerox (1 ) (1 ) (1 ) (2 ) Business transformation costs (1) — (3 ) (1 ) (7 ) Amortization of intangible assets (78 ) (79 ) (167 ) (156 ) Non-service retirement-related costs (2) (32 ) (10 ) (78 ) (52 ) Equity in net income of unconsolidated affiliates (22 ) (29 ) (59 ) (63 ) Separation costs (3) (28 ) — (36 ) — Other — (1 ) — — Pre-tax Income $ 145 $ 74 $ 129 $ 275 __________________________ (1) Business transformation costs represent incremental costs incurred directly in support of our business transformation and restructuring initiatives such as compensation costs for overlapping staff, consulting costs and training costs. (2) Represents the non-service elements of our defined-benefit pension and retiree-health plan costs. Refer to Note 13 - Employee Benefit Plans for details regarding these elements. (3) Separation costs are expenses incurred in connection with Xerox's planned separation into two independent, publicly-traded companies. These costs are primarily for third-party investment banking, accounting, legal, consulting and other similar types of services. Refer to Note 1 - Basis of Presentation for additional information regarding Xerox's planned separation.

Divestitures (Tables)

Divestitures (Tables)	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Summarized Financial Information - Discontinued Operations	Summarized financial information for our Discontinued Operations is as follows: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 ITO Other Total ITO Other Total Revenues $ 308 $ — $ 308 $ 619 $ — $ 619 Income from operations (1) 43 — 43 104 — 104 Loss on disposal (68 ) — (68 ) (72 ) — (72 ) Net (loss) income before income taxes $ (25 ) $ — $ (25 ) $ 32 $ — $ 32 Income tax expense (70 ) — (70 ) (93 ) — (93 ) Loss from discontinued operations, net of tax $ (95 ) $ — $ (95 ) $ (61 ) $ — $ (61 ) (1) ITO Income from operations excludes depreciation and amortization expenses of approximately $41 and $80 (including $7 and $14 of intangible amortization) for the three and six months ended June 30, 2015, respectively, since the business was held for sale.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Schedule of accounts receivable, net	Accounts receivable, net were as follows: June 30, 2016 December 31, 2015 Amounts billed or billable $ 2,209 $ 2,110 Unbilled amounts 345 289 Allowance for doubtful accounts (77 ) (80 ) Accounts Receivable, Net $ 2,477 $ 2,319
Schedule of accounts receivables sales	Accounts receivable sales were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Accounts receivable sales $ 648 $ 586 $ 1,328 $ 1,188 Deferred proceeds 59 57 130 119 Loss on sales of accounts receivable 4 3 8 6 Estimated decrease to operating cash flows (1) (34 ) (27 ) (57 ) (10 ) __________________________ (1) Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and, (iii) currency.

Finance Receivables, Net (Table

Finance Receivables, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Financing Receivable, Net [Abstract]
Finance Receivables Sales Activity	The following is a summary of our prior sales activity. Year Ended December 31, 2013 2012 Net carrying value (NCV) sold $ 676 $ 682 Allowance included in NCV 17 18 Cash proceeds received 635 630 Beneficial interests received 86 101
Finance Receivables Sales Impact on Operating Cash Flows	The net impact from the sales of finance receivables on operating cash flows is summarized below: Three Months Ended Six Months Ended 2016 2015 2016 2015 Impact from prior sales of finance receivables (1) $ (51 ) $ (89 ) $ (110 ) $ (194 ) Collections on beneficial interest 8 15 18 33 Estimated decrease to operating cash flows $ (43 ) $ (74 ) $ (92 ) $ (161 ) ____________________________ (1) Represents cash that would have been collected had we not sold finance receivables.
Allowance for Credit Losses on Financing Receivables	The following table is a rollforward of the allowance for doubtful finance receivables as well as the related investment in finance receivables: Allowance for Credit Losses: United States Canada Europe Other (2) Total Balance at December 31, 2015 (1) $ 54 $ 17 $ 45 $ 2 $ 118 Provision 4 1 5 — 10 Charge-offs (2 ) (2 ) (2 ) — (6 ) Recoveries and other (3) 1 2 1 — 4 Balance at March 31, 2016 $ 57 $ 18 $ 49 $ 2 $ 126 Provision — 1 7 8 Charge-offs (3 ) (2 ) (3 ) — (8 ) Recoveries and other (3) — 1 (2 ) — (1 ) Balance at June 30, 2016 $ 54 $ 18 $ 51 $ 2 $ 125 Finance receivables as of June 30, 2016 collectively evaluated for impairment (4) $ 2,149 $ 389 $ 1,424 $ 64 $ 4,026 Balance at December 31, 2014 (1) $ 51 $ 20 $ 58 $ 2 $ 131 Provision 4 1 5 1 11 Charge-offs — (3 ) (1 ) (1 ) (5 ) Recoveries and other (3) — — (6 ) — (6 ) Balance at March 31, 2015 $ 55 $ 18 $ 56 $ 2 $ 131 Provision 3 1 6 — 10 Charge-offs (3 ) (2 ) (5 ) — (10 ) Recoveries and other (3) (1 ) 1 3 — 3 Balance at June 30, 2015 $ 54 $ 18 $ 60 $ 2 $ 134 Finance receivables as of June 30, 2015 collectively evaluated for impairment (1),(4) $ 2,074 $ 397 $ 1,619 $ 66 $ 4,156 __________________ (1) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been revised to conform to current year presentation. (2) Includes developing market countries and smaller units. (3) Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (4) Total Finance receivables exclude the allowance for credit losses of $125 and $134 at June 30, 2016 and 2015 , respectively.
Financing Receivable Credit Quality Indicators	Details about our finance receivables portfolio based on industry and credit quality indicators are as follows: June 30, 2016 December 31, 2015 (4) Investment Grade Non-investment Grade Substandard Total Finance Receivables Investment Grade Non-investment Grade Substandard Total Finance Receivables Finance and other services $ 183 $ 327 $ 93 $ 603 $ 195 $ 285 $ 91 $ 571 Government and education 554 54 6 614 575 48 7 630 Graphic arts 137 108 107 352 145 92 127 364 Industrial 85 71 24 180 89 62 22 173 Healthcare 82 48 16 146 90 46 19 155 Other 97 104 53 254 121 107 53 281 Total United States 1,138 712 299 2,149 1,215 640 319 2,174 Finance and other services 60 41 9 110 55 35 9 99 Government and education 58 7 1 66 59 7 2 68 Graphic arts 44 39 22 105 45 35 21 101 Industrial 24 13 4 41 23 12 3 38 Other 37 26 4 67 33 23 3 59 Total Canada 223 126 40 389 215 112 38 365 France 191 245 66 502 203 207 101 511 U.K./Ireland 198 83 2 283 235 91 3 329 Central (1) 207 165 23 395 206 186 25 417 Southern (2) 40 133 14 187 36 138 17 191 Nordics (3) 31 24 2 57 24 35 2 61 Total Europe 667 650 107 1,424 704 657 148 1,509 Other 41 20 3 64 41 16 1 58 Total $ 2,069 $ 1,508 $ 449 $ 4,026 $ 2,175 $ 1,425 $ 506 $ 4,106 _____________________________ (1) Switzerland, Germany, Austria, Belgium and Holland. (2) Italy, Greece, Spain and Portugal. (3) Sweden, Norway, Denmark and Finland. (4) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.
Finance Receivables Aging	The aging of our billed finance receivables is based upon the number of days an invoice is past due and is as follows: June 30, 2016 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 9 $ 4 $ 2 $ 15 $ 588 $ 603 $ 12 Government and education 13 4 4 21 593 614 25 Graphic arts 13 1 — 14 338 352 6 Industrial 3 2 1 6 174 180 5 Healthcare 3 2 1 6 140 146 5 Other 9 2 1 12 242 254 6 Total United States 50 15 9 74 2,075 2,149 59 Canada 3 — — 3 386 389 10 France 4 — — 4 498 502 29 U.K./Ireland 2 1 — 3 280 283 1 Central (1) 3 1 1 5 390 395 8 Southern (2) 7 2 2 11 176 187 7 Nordics (3) 1 — — 1 56 57 2 Total Europe 17 4 3 24 1,400 1,424 47 Other 3 — — 3 61 64 — Total $ 73 $ 19 $ 12 $ 104 $ 3,922 $ 4,026 $ 116 December 31, 2015 (4) Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 10 $ 2 $ 2 $ 14 $ 557 $ 571 $ 14 Government and education 12 1 4 17 613 630 37 Graphic arts 12 2 1 15 349 364 8 Industrial 5 1 1 7 166 173 7 Healthcare 4 1 1 6 149 155 9 Other 14 2 2 18 263 281 7 Total United States 57 9 11 77 2,097 2,174 82 Canada 3 — — 3 362 365 9 France — — — — 511 511 25 U.K./Ireland 1 — — 1 328 329 1 Central (1) 3 1 1 5 412 417 7 Southern (2) 8 2 3 13 178 191 10 Nordics (3) 1 — — 1 60 61 4 Total Europe 13 3 4 20 1,489 1,509 47 Other 1 1 — 2 56 58 — Total $ 74 $ 13 $ 15 $ 102 $ 4,004 $ 4,106 $ 138 _____________________________ (1) Switzerland, Germany, Austria, Belgium and Holland. (2) Italy, Greece, Spain and Portugal. (3) Sweden, Norway, Denmark and Finland. (4) In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories	The following is a summary of Inventories by major category: June 30, 2016 December 31, 2015 Finished goods $ 855 $ 792 Work-in-process 65 51 Raw materials 97 99 Total Inventories $ 1,017 $ 942

Investment in Affiliates, at 28

Investment in Affiliates, at Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity in net income of unconsolidated affiliates	Our equity in net income of unconsolidated affiliates was as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Fuji Xerox $ 19 $ 25 $ 52 $ 56 Other investments 3 4 7 7 Total Equity in Net Income of Unconsolidated Affiliates $ 22 $ 29 $ 59 $ 63
Condensed Financial Information Of Equity Investment - Fuji Xerox	Condensed financial data of Fuji Xerox was as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Summary of Operations: Revenues $ 2,450 $ 2,389 $ 5,128 $ 5,120 Costs and expenses 2,329 2,211 4,793 4,731 Income before income taxes 121 178 335 389 Income tax expense 44 63 109 129 Net Income 77 115 226 260 Less: Net income – noncontrolling interests 1 2 3 4 Net Income – Fuji Xerox $ 76 $ 113 $ 223 $ 256 Weighted Average Exchange Rate (1) 107.84 121.39 111.62 120.27 _____________________________ (1) Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs (Tables)

Restructuring Programs (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring Program Activity	Information related to restructuring program activity during the six months ended June 30, 2016 is outlined below: Severance and Related Costs Lease Cancellation and Other Costs Asset Impairments (2) Total Balance at December 31, 2015 $ 22 $ 2 $ — $ 24 Provision 197 4 2 203 Reversals (12 ) — (5 ) (17 ) Net Current Period Charges (1) 185 4 (3 ) 186 Charges against reserve and currency (64 ) (5 ) 3 (66 ) Balance at June 30, 2016 $ 143 $ 1 $ — $ 144 _____________________________ (1) Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairments charges. (2) Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision.
Reconciliation to the Condensed Consolidated Statements Of Cash Flows	Reconciliation to the Condensed Consolidated Statements of Cash Flows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Charges against reserve $ (39 ) $ (175 ) $ (66 ) $ (212 ) Asset impairments 2 146 2 146 Effects of foreign currency and other non-cash items — (1 ) (1 ) 5 Restructuring Cash Payments $ (37 ) $ (30 ) $ (65 ) $ (61 )
Total Costs incurred with Restructuring programs, by segment	The following table summarizes the total amount of costs incurred in connection with these restructuring programs by segment: Three Months Ended Six Months Ended 2016 2015 2016 2015 Services (1) $ 25 $ 149 $ 62 $ 154 Document Technology 42 8 128 17 Other (4 ) — (4 ) — Total Net Restructuring Charges $ 63 $ 157 $ 186 $ 171 _____________________________ (1) The three and six months ended June 30, 2015 includes $146 of software asset impairment charges.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule Of Interest Expense And Interest Income	Interest expense and interest income were as follows: Three Months Ended Six Months Ended 2016 2015 2016 2015 Interest expense (1) $ 81 $ 88 $ 169 $ 177 Interest income (2) 84 89 169 181 ____________ (1) Includes Equipment financing interest as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of Income. (2) Includes Finance income as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of Income.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following is a summary of our fair value hedges at June 30, 2016 : Debt Instrument Year First Designated Notional Amount Net Fair Value Weighted Average Interest Rate Paid Interest Rate Received Basis Maturity Senior Note 2021 2014 $ 300 $ 18 2.52 % 4.5 % Libor 2021
Summary of Derivative Instruments Fair Value	Summary of Derivative Instruments Fair Value The following table provides a summary of the fair value amounts of our derivative instruments: Designation of Derivatives Balance Sheet Location June 30, 2016 December 31, 2015 Derivatives Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 39 $ 4 Other current liabilities (2 ) (4 ) Foreign currency options Other current liabilities — (1 ) Interest rate swaps Other long-term assets 18 7 Net Designated Derivative Asset $ 55 $ 6 Derivatives NOT Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 115 $ 51 Other current liabilities (12 ) (8 ) Net Undesignated Derivative Asset $ 103 $ 43 Summary of Derivatives Total Derivative Assets $ 172 $ 62 Total Derivative Liabilities (14 ) (13 ) Net Derivative Asset $ 158 $ 49
Derivative Instruments, Gain (Loss)	The following table provides a summary of gains (losses) on derivative instruments: Three Months Ended Six Months Ended Gain (Loss) on Derivative Instruments 2016 2015 2016 2015 Fair Value Hedges - Interest rate contracts Derivative gain (loss) recognized in interest expense $ 2 $ (4 ) $ 11 $ — Hedged item (loss) gain recognized in interest expense (2 ) 4 (11 ) — Cash Flow Hedges - Foreign exchange forward contracts and options Derivative gain (loss) recognized in OCI (effective portion) $ 41 $ (24 ) $ 57 $ 7 Derivative gain (loss) reclassified from AOCI to income - Cost of sales (effective portion) 8 — 7 (10 )
Summary of Derivatives Not Designated as Hedging Instruments Gains (Losses)	The following table provides a summary of gains on non-designated derivative instruments: Derivatives NOT Designated as Hedging Instruments Three Months Ended Six Months Ended Location of Derivative Gain (Loss) 2016 2015 2016 2015 Foreign exchange contracts – forwards Other expense – Currency gains (loss), net $ 78 $ (50 ) $ 149 $ (35 ) Net currency gains and losses are included in Other expenses, net and include the mark-to-market adjustments of the derivatives not designated as hedging instruments and the related cost of those derivatives as well as the re-measurement of foreign currency-denominated assets and liabilities. For the three and six months ended June 30, 2016 , currency gains (losses), net were $3 and $(1) , respectively. For the three and six months ended June 30, 2015 , currency gains (losses), net were $5 and $(1) , respectively.

Fair Value of Financial Asset32

Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value of financial assets and liabilities	The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs. June 30, 2016 December 31, 2015 Assets: Foreign exchange contracts - forwards $ 154 $ 55 Interest rate swaps 18 7 Deferred compensation investments in cash surrender life insurance 94 92 Deferred compensation investments in mutual funds 35 33 Total $ 301 $ 187 Liabilities: Foreign exchange contracts - forwards $ 14 $ 12 Foreign currency options — 1 Deferred compensation plan liabilities 127 125 Total $ 141 $ 138
Estimated fair values of financial assets and liabilities not measured at fair value on a recurring basis	The estimated fair values of our other financial assets and liabilities not measured at fair value on a recurring basis were as follows: June 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents $ 1,203 $ 1,203 $ 1,368 $ 1,368 Accounts receivable, net 2,477 2,477 2,319 2,319 Short-term debt 2,029 2,048 985 976 Long-term debt 5,355 5,394 6,354 6,395

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Defined Benefit and Retiree Health Pension Plans, actual and expected cash contributions	Contributions The following table summarizes cash contributions to our defined benefit pension plans and retiree health benefit plans. Six Months Ended June 30, Year Ended December 31, 2016 2015 Est. 2016 (1) 2015 U.S. Plans $ 13 $ 13 $ 25 $ 177 Non-U.S. Plans 58 85 115 132 Total $ 71 $ 98 $ 140 $ 309 Retiree Health $ 30 $ 29 $ 65 $ 63 ___________ (1) These full year estimates are based on current expectations that we will make additional 2016 cash contributions of $69 ( $12 U.S. and $57 Non-U.S) to our defined benefit pension plans and $35 to our retiree health benefit plans.
Components of net periodic benefit cost and other changes in plan assets and benefit obligations	The components of Net periodic benefit cost and other changes in plan assets and benefit obligations were as follows: Three Months Ended June 30, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health Components of Net Periodic Benefit Costs: 2016 2015 2016 2015 2016 2015 Service cost $ 1 $ 1 $ 10 $ 9 $ 2 $ 2 Interest cost 35 38 53 53 8 8 Expected return on plan assets (36 ) (38 ) (69 ) (74 ) — — Recognized net actuarial loss 7 6 17 21 — 1 Amortization of prior service credit (1 ) — (1 ) (2 ) (1 ) (8 ) Recognized settlement loss 17 18 — — — — Recognized curtailment gain — — — — — (22 ) Defined Benefit Plans 23 25 10 7 9 (19 ) Defined contribution plans 15 15 10 11 n/a n/a Net Periodic Benefit Cost 38 40 20 18 9 (19 ) Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income): Net actuarial loss (gain) (2) 134 (140 ) — (2 ) (34 ) (58 ) Amortization of prior service credit 1 — 1 2 1 8 Amortization of net actuarial loss (24 ) (24 ) (17 ) (21 ) — (1 ) Curtailment gain - recognition of net prior service credit — — — — — 22 Total Recognized in Other Comprehensive Loss (Income) (3) 111 (164 ) (16 ) (21 ) (33 ) (29 ) Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income) $ 149 $ (124 ) $ 4 $ (3 ) $ (24 ) $ (48 ) Six Months Ended June 30, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health Components of Net Periodic Benefit Costs: 2016 2015 2016 2015 2016 2015 Service cost $ 2 $ 2 $ 16 $ 17 $ 3 $ 4 Interest cost 73 76 105 106 16 17 Expected return on plan assets (76 ) (76 ) (133 ) (147 ) — — Recognized net actuarial loss 12 13 34 40 1 1 Amortization of prior service credit (1 ) (1 ) (2 ) (2 ) (2 ) (15 ) Recognized settlement loss 46 45 — — — — Recognized curtailment gain — — — — — (22 ) Defined Benefit Plans 56 59 20 14 18 (15 ) Defined contribution plans (1) 29 31 20 20 n/a n/a Net Periodic Benefit Cost 85 90 40 34 18 (15 ) Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income): Net actuarial loss (gain) (2) 257 (52 ) — (2 ) (34 ) (58 ) Amortization of prior service credit 1 1 2 2 2 15 Amortization of net actuarial loss (58 ) (58 ) (34 ) (40 ) (1 ) (1 ) Curtailment gain - recognition of net prior service credit — — — — — 22 Total Recognized in Other Comprehensive Loss (Income) (3) 200 (109 ) (32 ) (40 ) (33 ) (22 ) Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income) $ 285 $ (19 ) $ 8 $ (6 ) $ (15 ) $ (37 ) _____________________________ (1) The six months ended June 30, 2015 excludes defined contribution expense of $4 related to our ITO business, which was reported as a discontinued operation up to its sale on June 30, 2015. Refer to Note 4 - Divestitures for additional information regarding this sale. (2) The net actuarial loss (gain) for U.S. Plans primarily reflects (i) the remeasurement of our primary U.S. pension plans as a result of the payment of periodic settlements; and (ii) adjustments for the actuarial valuation results based on January 1 st plan census data. (3) Amounts represent the pre-tax effect included within Other comprehensive loss. Refer to Note 15 - Other Comprehensive (Loss) Income for related tax effects and the after-tax amounts.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Common Stock Additional Paid-in Capital Retained Earnings AOCL (3) Xerox Shareholders’ Equity Non-controlling Interests Total Equity Balance at December 31, 2015 $ 1,013 $ 3,017 $ 9,686 $ (4,642 ) $ 9,074 $ 43 $ 9,117 Comprehensive income, net — — 189 56 245 4 249 Cash dividends declared - common (1) — — (159 ) — (159 ) — (159 ) Cash dividends declared - preferred (2) — — (12 ) — (12 ) — (12 ) Stock option and incentive plans, net — 30 — — 30 — 30 Distributions to noncontrolling interests — — — — — (9 ) (9 ) Balance at June 30, 2016 $ 1,013 $ 3,047 $ 9,704 $ (4,586 ) $ 9,178 $ 38 $ 9,216 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (3) Xerox Shareholders’ Equity Non- controlling Interests Total Equity Balance at December 31, 2014 $ 1,124 $ 4,283 $ (105 ) $ 9,535 $ (4,159 ) $ 10,678 $ 75 $ 10,753 Comprehensive income (loss), net — — — 237 (140 ) 97 10 107 Cash dividends declared - common (1) — — — (155 ) — (155 ) — (155 ) Cash dividends declared - preferred (2) — — — (12 ) — (12 ) — (12 ) Stock option and incentive plans, net 3 54 — — — 57 — 57 Payments to acquire treasury stock, including fees — — (611 ) — — (611 ) — (611 ) Cancellation of treasury stock (30 ) (370 ) 400 — — — — — Distributions to noncontrolling interests — — — — — — (42 ) (42 ) Balance at June 30, 2015 $ 1,097 $ 3,967 $ (316 ) $ 9,605 $ (4,299 ) $ 10,054 $ 43 $ 10,097 _____________________________ (1) Cash dividends declared on common stock of $0.0775 per share in each quarter of 2016 and $0.07 per share in each quarter of 2015 . (2) Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2016 and 2015 . (3) Refer to Note 15 - Other Comprehensive (Loss) Income for components of AOCL.

Other Comprehensive Income (L35

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income (Loss) [Abstract]
Schedule of Comprehensive Income (Loss)	Other Comprehensive (Loss) Income is comprised of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Translation Adjustments (Losses) Gains $ (75 ) $ (77 ) $ 191 $ 194 $ 118 $ 114 $ (315 ) $ (315 ) Unrealized Gains (Losses): Changes in fair value of cash flow hedges - gains (losses) 41 30 (24 ) (18 ) 57 39 7 7 Changes in cash flow hedges reclassed to earnings (1) (8 ) (5 ) — (1 ) (7 ) (5 ) 10 4 Other (losses) gains (1 ) (1 ) 1 — (1 ) (1 ) — (1 ) Net Unrealized Gains (Losses) 32 24 (23 ) (19 ) 49 33 17 10 Defined Benefit Plans (Losses) Gains: Net actuarial (losses) gains (100 ) (62 ) 200 123 (223 ) (138 ) 112 69 Prior service amortization (2) (3 ) (2 ) (32 ) (19 ) (5 ) (3 ) (40 ) (24 ) Actuarial loss amortization/settlement (2) 41 28 46 32 93 63 99 67 Fuji Xerox changes in defined benefit plans, net (3) (25 ) (25 ) 8 8 (100 ) (100 ) 27 27 Other gains (losses) (4) 81 81 (76 ) (77 ) 86 86 27 26 Changes in Defined Benefit Plans (Losses) Gains (6 ) 20 146 67 (149 ) (92 ) 225 165 Other Comprehensive (Loss) Income (49 ) (33 ) 314 242 18 55 (73 ) (140 ) Less: Other comprehensive (loss) income attributable to noncontrolling interests (1 ) (1 ) 1 1 (1 ) (1 ) — — Other Comprehensive (Loss) Income Attributable to Xerox $ (48 ) $ (32 ) $ 313 $ 241 $ 19 $ 56 $ (73 ) $ (140 ) _____________________________ (1) Reclassified to Cost of sales - refer to Note 11 - Financial Instruments for additional information regarding our cash flow hedges. (2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information. (3) Represents our share of Fuji Xerox's benefit plan changes. (4) Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits in AOCL.
Schedule of Accumulated Other Comprehensive Loss	AOCL is comprised of the following: June 30, 2016 December 31, 2015 Cumulative translation adjustments $ (2,287 ) $ (2,402 ) Other unrealized gains, net 34 1 Benefit plans net actuarial losses and prior service credits (1) (2,333 ) (2,241 ) Total Accumulated Other Comprehensive Loss Attributable to Xerox $ (4,586 ) $ (4,642 ) _____________________________ (1) Includes our share of Fuji Xerox.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Basic and Diluted Earnings per Share	The following table sets forth the computation of basic and diluted earnings per share of common stock (shares in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Basic Earnings per Share: Net income from continuing operations attributable to Xerox $ 155 $ 107 $ 189 $ 298 Accrued dividends on preferred stock (6 ) (6 ) (12 ) (12 ) Net Income From Continuing Operations Available to Common Shareholders 149 101 177 286 Net loss from discontinued operations attributable to Xerox — (95 ) — (61 ) Net Income Available to Common Shareholders $ 149 $ 6 $ 177 $ 225 Weighted average common shares outstanding 1,013,284 1,087,720 1,013,164 1,098,370 Basic Earnings per Share: Continuing operations $ 0.15 $ 0.09 $ 0.17 $ 0.26 Discontinued operations — (0.08 ) — (0.06 ) Total $ 0.15 $ 0.01 $ 0.17 $ 0.20 Diluted Earnings per Share: Net income from continuing operations attributable to Xerox $ 155 $ 107 $ 189 $ 298 Accrued dividends on preferred stock (6 ) (6 ) (12 ) (12 ) Net Income From Continuing Operations Available to Common Shareholders $ 149 $ 101 $ 177 $ 286 Net loss from discontinued operations attributable to Xerox — (95 ) — (61 ) Net Income Available to Common Shareholders $ 149 $ 6 $ 177 $ 225 Weighted average common shares outstanding - Basic 1,013,284 1,087,720 1,013,164 1,098,370 Common shares issuable with respect to: Stock options 822 1,409 837 1,615 Restricted stock and performance shares 7,915 16,140 7,156 15,300 Convertible preferred stock — — — — Weighted Average Common Shares Outstanding - Diluted 1,022,021 1,105,269 1,021,157 1,115,285 Diluted Earnings per Share: Continuing operations $ 0.15 $ 0.09 $ 0.17 $ 0.26 Discontinued operations — (0.08 ) — (0.06 ) Total $ 0.15 $ 0.01 $ 0.17 $ 0.20 The following securities were not included in the computation of diluted earnings per share as they were either contingently issuable shares or shares that if included would have been anti-dilutive: Stock options 1,944 2,590 1,930 2,384 Restricted stock and performance shares 15,909 13,981 16,669 14,820 Convertible preferred stock 26,966 26,966 26,966 26,966 Total Anti-Dilutive Securities 44,819 43,537 45,565 44,170 Dividends per Common Share $ 0.0775 $ 0.0700 $ 0.1550 $ 0.1400

Basis of Presentation - Planned

Basis of Presentation - Planned Company Separation (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Publicly Traded Companies - post separation	2
Three-year strategic cost transformation program	3 years
Total Company Incremental Savings from three-year cost transformation program	$ 600
Strategic transformation program, three-year cumulative cost reduction	$ 2,400

Recent Accounting Pronounceme38

Recent Accounting Pronouncements (Details) - Adjustments for New Accounting Principle, Early Adoption [Member] $ in Millions	Dec. 31, 2015USD ($)
Long-term Debt [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Finance Costs, Net	$ 28
Other Noncurrent Assets [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Finance Costs, Net	32
Line of Credit [Member] | Other Noncurrent Assets [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Finance Costs, Net	$ 4

Segment Reporting - Segment Rev

Segment Reporting - Segment Revenue and Segment Profit (Loss) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)service_offeringprimaryreportablesegment	Jun. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Primary Reportable Segments, Number | primaryreportablesegment			2
Segment Revenue	$ 4,385	$ 4,590	$ 8,666	$ 9,059
Segment Profit (Loss)	377	354	668	726
Services [Member]
Segment Reporting Information [Line Items]
Segment Revenue	2,470	2,526	4,952	4,993
Segment Profit (Loss)	236	181	426	368
Document Technology [Member]
Segment Reporting Information [Line Items]
Segment Revenue	1,752	1,880	3,391	3,710
Segment Profit (Loss)	221	235	388	467
Other [Member]
Segment Reporting Information [Line Items]
Segment Revenue	163	184	323	356
Segment Profit (Loss)	$ (80)	$ (62)	$ (146)	$ (109)
Outsourcing Offerings [Member] | Services [Member]
Segment Reporting Information [Line Items]
Outsourcing Service Offerings, Number | service_offering			2

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation Of Operating Profit Loss (Details) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Segment Reporting [Abstract]
Number of Publicly Traded Companies - post separation		2		2
Segment Profit		$ 377	$ 354	$ 668	$ 726
Reconciling items:
Restructuring and related costs		(71)	(157)	(197)	(171)
Restructuring charges of Fuji Xerox		(1)	(1)	(1)	(2)
Business transformation costs	[1]	0	(3)	(1)	(7)
Amortization of intangible assets		(78)	(79)	(167)	(156)
Non-service retirement-related costs	[2]	(32)	(10)	(78)	(52)
Equity in net income of unconsolidated affiliates		(22)	(29)	(59)	(63)
Separation costs	[3]	(28)	0	(36)	0
Other		0	(1)	0	0
Income before Income Taxes and Equity Income		$ 145	$ 74	$ 129	$ 275
[1]	Business transformation costs represent incremental costs incurred directly in support of our business transformation and restructuring initiatives such as compensation costs for overlapping staff, consulting costs and training costs.
[2]	Represents the non-service elements of our defined-benefit pension and retiree-health plan costs. Refer to Note 13 - Employee Benefit Plans for details regarding these elements.
[3]	Separation costs are expenses incurred in connection with Xerox's planned separation into two independent, publicly-traded companies. These costs are primarily for third-party investment banking, accounting, legal, consulting and other similar types of services. Refer to Note 1 - Basis of Presentation for additional information regarding Xerox's planned separation.

Divestitures (Details)

Divestitures (Details) - USD ($) $ in Millions		Jun. 30, 2015	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues					$ 308		$ 619
Income from operations (1)	[1]				43		104
Loss on disposal					(68)		(72)
Net (loss) income before income taxes					(25)		32
Income tax expense					(70)		(93)
Loss from discontinued operations, net of tax			$ 0		(95)	$ 0	(61)
ITO [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional pre-tax loss on disposal								$ 24
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax								$ (14)
Payment for adjustment to sales price				$ 52
Payment/adjustment to sales price				$ 28
Payment due from closing		$ 24
Revenues					308		619
Income from operations (1)	[1]				43		104
Loss on disposal					(68)		(72)
Net (loss) income before income taxes					(25)		32
Income tax expense					(70)		(93)
Loss from discontinued operations, net of tax					(95)		(61)
Disposal Group, Including Discontinued Operation, Depreciation and Amortization					41		80
Disposal Group, Including Discontinued Operations, Amortization					7		14
All Other Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues					0		0
Income from operations (1)					0		0
Loss on disposal					0		0
Net (loss) income before income taxes					0		0
Income tax expense					0		0
Loss from discontinued operations, net of tax					$ 0		$ 0
[1]	) ITO Income from operations excludes depreciation and amortization expenses of approximately $41 and $80 (including $7 and $14 of intangible amortization) for the three and six months ended June 30, 2015, respectively, since the business was held for sale.

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Receivables [Abstract]
Amounts billed or billable		$ 2,209		$ 2,209		$ 2,110
Unbilled amounts		345		345		289
Allowance for doubtful accounts		(77)		(77)		(80)
Accounts Receivable, Net		2,477		2,477		2,319
Billable contracts receivable to be invoiced in the subsequent month		826		826		849
Accounts Receivable Sales Arrangements [Abstract]
Remaining account receivable sold and derecognized		603		603		660
Accounts, Notes, Loans and Financing Receivable [Line Items]
Estimated decrease to operating cash flows		(43)	$ (74)	(92)	$ (161)
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable sales		648	586	1,328	1,188
Deferred proceeds		59	57	130	119
Loss on sales of accounts receivable		4	3	8	6
Estimated decrease to operating cash flows	[1]	(34)	$ (27)	(57)	$ (10)
Other Current Assets [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred proceeds receivables from sales of accounts receivables		$ 59		$ 59		$ 61
[1]	Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and, (iii) currency.

Finance Receivables, Net - Sale

Finance Receivables, Net - Sale of Finance Receivables (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net carrying value (NCV) sold						$ 676	$ 682
Allowance included in NCV						17	18
Cash proceeds received						635	630
Beneficial interests received						$ 86	$ 101
Finance receivables sold and derecognized principal value		$ 163		$ 163				$ 238
Finance receivables sold and derecognized sales value		154		$ 154				256
Finance Receivable Beneficial Interest Weighted Average Life				2 years
Impact from prior sales of finance receivables	[1]	(51)	$ (89)	$ (110)	$ (194)
Collections on beneficial interest		7	12	15	27
Estimated decrease to operating cash flows		(43)	(74)	(92)	(161)
Financing Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collections on beneficial interest		8	$ 15	18	$ 33
Other Current Assets [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beneficial Interest, Interest in Other Current Assets		26		26				38
Other Noncurrent Assets [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beneficial interest from sale of finance receivables		$ 17		$ 17				$ 30
[1]	Represents cash that would have been collected had we not sold finance receivables.

Finance Receivables, Net (Detai

Finance Receivables, Net (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2016	Mar. 31, 2016		Jun. 30, 2015		Mar. 31, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance		$ 126	$ 118	[1]	$ 131		$ 131	[1]
Provision		8	10		10		11
Charge-offs		(8)	(6)		(10)		(5)
Recoveries and other	[2]	(1)	4		3		(6)
Ending Balance		125	126		134		131
Financing Receivable, Collectively Evaluated for Impairment	[3]	4,026			4,156	[1]
Allowance for credit losses not included in the impairment evaluation		125			134
United States
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance		57	54	[1]	55		51	[1]
Provision		0	4		3		4
Charge-offs		(3)	(2)		(3)		0
Recoveries and other	[2]	0	1		(1)		0
Ending Balance		54	57		54		55
Financing Receivable, Collectively Evaluated for Impairment	[3]	2,149			2,074	[1]
Canada
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance		18	17	[1]	18		20	[1]
Provision		1	1		1		1
Charge-offs		(2)	(2)		(2)		(3)
Recoveries and other	[2]	1	2		1		0
Ending Balance		18	18		18		18
Financing Receivable, Collectively Evaluated for Impairment	[3]	389			397	[1]
Europe
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance		49	45	[1]	56		58	[1]
Provision		7	5		6		5
Charge-offs		(3)	(2)		(5)		(1)
Recoveries and other	[2]	(2)	1		3		(6)
Ending Balance		51	49		60		56
Financing Receivable, Collectively Evaluated for Impairment	[3]	1,424			1,619	[1]
Other
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning Balance	[4]	2	2	[1]	2		2	[1]
Provision	[4]		0		0		1
Charge-offs	[4]	0	0		0		(1)
Recoveries and other	[2],[4]	0	0		0		0
Ending Balance	[4]	2	$ 2		2		$ 2
Financing Receivable, Collectively Evaluated for Impairment	[3],[4]	$ 64			$ 66	[1]
[1]	In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been revised to conform to current year presentation.
[2]	Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.
[3]	Total Finance receivables exclude the allowance for credit losses of $125 and $134 at June 30, 2016 and 2015, respectively.
[4]	Includes developing market countries and smaller units.

Finance Receivables, Net - Cred

Finance Receivables, Net - Credit Quality Indicators (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2016	Dec. 31, 2015	[1]
Financing Receivable, Recorded Investment [Line Items]
Loss Rates Of Customers With Investment Grade Credit Quality		1.00%
Loss Rates Of Customers With Non Investment Grade Credit Quality Low Range		2.00%
Loss Rates Of Customers With Non Investment Grade Credit Quality High Range		4.00%
Loss Rates Of Customers With Substandard Doubtful Credit Quality		10.00%
Financing Receivable, Net		$ 4,026	$ 4,106
United States
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		2,149	2,174
United States | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		603	571
United States | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		614	630
United States | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		352	364
United States | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		180	173
United States | Healthcare
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		146	155
United States | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		254	281
Canada
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		389	365
Canada | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		110	99
Canada | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		66	68
Canada | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		105	101
Canada | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		41	38
Canada | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		67	59
Europe
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		1,424	1,509
France
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		502	511
U.K./Ireland
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		283	329
Central
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[2]	395	417
Southern
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[3]	187	191
Nordics
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[4]	57	61
Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		64	58	[5]
Investment Grade
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		2,069	2,175
Investment Grade | United States
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		1,138	1,215
Investment Grade | United States | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		183	195
Investment Grade | United States | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		554	575
Investment Grade | United States | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		137	145
Investment Grade | United States | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		85	89
Investment Grade | United States | Healthcare
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		82	90
Investment Grade | United States | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		97	121
Investment Grade | Canada
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		223	215
Investment Grade | Canada | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		60	55
Investment Grade | Canada | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		58	59
Investment Grade | Canada | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		44	45
Investment Grade | Canada | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		24	23
Investment Grade | Canada | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		37	33
Investment Grade | Europe
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		667	704
Investment Grade | France
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		191	203
Investment Grade | U.K./Ireland
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		198	235
Investment Grade | Central
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[2]	207	206
Investment Grade | Southern
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[3]	40	36
Investment Grade | Nordics
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[4]	31	24
Investment Grade | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		41	41	[5]
Non-investment Grade
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		1,508	1,425
Non-investment Grade | United States
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		712	640
Non-investment Grade | United States | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		327	285
Non-investment Grade | United States | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		54	48
Non-investment Grade | United States | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		108	92
Non-investment Grade | United States | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		71	62
Non-investment Grade | United States | Healthcare
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		48	46
Non-investment Grade | United States | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		104	107
Non-investment Grade | Canada
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		126	112
Non-investment Grade | Canada | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		41	35
Non-investment Grade | Canada | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		7	7
Non-investment Grade | Canada | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		39	35
Non-investment Grade | Canada | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		13	12
Non-investment Grade | Canada | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		26	23
Non-investment Grade | Europe
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		650	657
Non-investment Grade | France
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		245	207
Non-investment Grade | U.K./Ireland
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		83	91
Non-investment Grade | Central
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[2]	165	186
Non-investment Grade | Southern
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[3]	133	138
Non-investment Grade | Nordics
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[4]	24	35
Non-investment Grade | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		20	16	[5]
Substandard
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		449	506
Substandard | United States
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		299	319
Substandard | United States | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		93	91
Substandard | United States | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		6	7
Substandard | United States | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		107	127
Substandard | United States | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		24	22
Substandard | United States | Healthcare
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		16	19
Substandard | United States | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		53	53
Substandard | Canada
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		40	38
Substandard | Canada | Finance and other services
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		9	9
Substandard | Canada | Government and education
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		1	2
Substandard | Canada | Graphic arts
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		22	21
Substandard | Canada | Industrial
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		4	3
Substandard | Canada | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		4	3
Substandard | Europe
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		107	148
Substandard | France
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		66	101
Substandard | U.K./Ireland
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		2	3
Substandard | Central
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[2]	23	25
Substandard | Southern
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[3]	14	17
Substandard | Nordics
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net	[4]	2	2
Substandard | Other
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable, Net		$ 3	$ 1	[5]
[1]	In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.
[2]	Switzerland, Germany, Austria, Belgium and Holland.
[3]	Italy, Greece, Spain and Portugal.
[4]	Sweden, Norway, Denmark and Finland.
[5]	In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.

Finance Receivables, Net - Agin

Finance Receivables, Net - Aging (Details) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		$ 4,026	$ 4,106	[1]
Total Billed		2,209	2,110
Total Finance Receivables		4,026	4,106	[1]
Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		104	102	[1]
Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		3,922	4,004	[1]
United States
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		2,149	2,174	[1]
Total Finance Receivables		2,149	2,174	[1]
United States | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		74	77	[1]
United States | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		2,075	2,097	[1]
United States | Finance and other services
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		603	571	[1]
Total Finance Receivables		603	571	[1]
United States | Finance and other services | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		15	14	[1]
United States | Finance and other services | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		588	557	[1]
United States | Government and education
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		614	630	[1]
Total Finance Receivables		614	630	[1]
United States | Government and education | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		21	17	[1]
United States | Government and education | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		593	613	[1]
United States | Graphic arts
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		352	364	[1]
Total Finance Receivables		352	364	[1]
United States | Graphic arts | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		14	15	[1]
United States | Graphic arts | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		338	349	[1]
United States | Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		180	173	[1]
Total Finance Receivables		180	173	[1]
United States | Industrial | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		6	7	[1]
United States | Industrial | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		174	166	[1]
United States | Healthcare
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		146	155	[1]
Total Finance Receivables		146	155	[1]
United States | Healthcare | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		6	6	[1]
United States | Healthcare | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		140	149	[1]
United States | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		254	281	[1]
Total Finance Receivables		254	281	[1]
United States | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		12	18	[1]
United States | Other | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		242	263	[1]
Canada
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		389	365	[1]
Total Finance Receivables		389	365	[1]
Canada | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		3	3	[1]
Canada | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		386	362	[1]
Canada | Finance and other services
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		110	99	[1]
Canada | Government and education
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		66	68	[1]
Canada | Graphic arts
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		105	101	[1]
Canada | Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		41	38	[1]
Canada | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		67	59	[1]
Europe
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1,424	1,509	[1]
Total Finance Receivables		1,424	1,509	[1]
Europe | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		24	20	[1]
Europe | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		1,400	1,489	[1]
France
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		502	511	[1]
Total Finance Receivables		502	511	[1]
France | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		4	0	[1]
France | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		498	511	[1]
U.K./Ireland
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		283	329	[1]
Total Finance Receivables		283	329	[1]
U.K./Ireland | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		3	1	[1]
U.K./Ireland | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		280	328	[1]
Central
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[2]	395	417	[1]
Total Finance Receivables	[3]	395	417	[4]
Central | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed	[3]	5	5	[4]
Central | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled	[3]	390	412	[4]
Southern
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[5]	187	191	[1]
Total Finance Receivables	[5]	187	191	[4]
Southern | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed	[5]	11	13	[4]
Southern | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled	[5]	176	178	[4]
Nordics
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[6]	57	61	[1]
Total Finance Receivables	[6]	57	61	[4]
Nordics | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed	[6]	1	1	[4]
Nordics | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled	[6]	56	60	[4]
Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		64	58	[1],[4]
Total Finance Receivables		64	58	[1]
Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Billed		3	2	[1]
Other | Unbilled Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Unbilled		61	56	[1]
Current | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		73	74	[1]
Current | United States | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		50	57	[1]
Current | United States | Finance and other services | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		9	10	[1]
Current | United States | Government and education | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		13	12	[1]
Current | United States | Graphic arts | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		13	12	[1]
Current | United States | Industrial | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		3	5	[1]
Current | United States | Healthcare | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		3	4	[1]
Current | United States | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		9	14	[1]
Current | Canada | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		3	3	[1]
Current | Europe | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		17	13	[1]
Current | France | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		4	0	[1]
Current | U.K./Ireland | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		2	1	[1]
Current | Central | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[3]	3	3	[4]
Current | Southern | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[5]	7	8	[4]
Current | Nordics | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[6]	1	1	[4]
Current | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		3	1	[1]
31-90 Days Past Due | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		19	13	[1]
31-90 Days Past Due | United States | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		15	9	[1]
31-90 Days Past Due | United States | Finance and other services | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		4	2	[1]
31-90 Days Past Due | United States | Government and education | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		4	1	[1]
31-90 Days Past Due | United States | Graphic arts | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1	2	[1]
31-90 Days Past Due | United States | Industrial | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		2	1	[1]
31-90 Days Past Due | United States | Healthcare | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		2	1	[1]
31-90 Days Past Due | United States | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		2	2	[1]
31-90 Days Past Due | Canada | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
31-90 Days Past Due | Europe | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		4	3	[1]
31-90 Days Past Due | France | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
31-90 Days Past Due | U.K./Ireland | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1	0	[1]
31-90 Days Past Due | Central | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[3]	1	1	[4]
31-90 Days Past Due | Southern | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[5]	2	2	[4]
31-90 Days Past Due | Nordics | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[6]	0	0	[4]
31-90 Days Past Due | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	1	[1]
90 Days Past Due | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		12	15	[1]
90 Days Past Due | United States | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		9	11	[1]
90 Days Past Due | United States | Finance and other services | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		2	2	[1]
90 Days Past Due | United States | Government and education | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		4	4	[1]
90 Days Past Due | United States | Graphic arts | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	1	[1]
90 Days Past Due | United States | Industrial | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1	1	[1]
90 Days Past Due | United States | Healthcare | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1	1	[1]
90 Days Past Due | United States | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1	2	[1]
90 Days Past Due | Canada | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
90 Days Past Due | Europe | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		3	4	[1]
90 Days Past Due | France | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
90 Days Past Due | U.K./Ireland | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
90 Days Past Due | Central | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[3]	1	1	[4]
90 Days Past Due | Southern | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[5]	2	3	[4]
90 Days Past Due | Nordics | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[6]	0	0	[4]
90 Days Past Due | Other | Billed Revenues
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
90 Days and Accruing
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		116	138	[1]
90 Days and Accruing | United States
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		59	82	[1]
90 Days and Accruing | United States | Finance and other services
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		12	14	[1]
90 Days and Accruing | United States | Government and education
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		25	37	[1]
90 Days and Accruing | United States | Graphic arts
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		6	8	[1]
90 Days and Accruing | United States | Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		5	7	[1]
90 Days and Accruing | United States | Healthcare
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		5	9	[1]
90 Days and Accruing | United States | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		6	7	[1]
90 Days and Accruing | Canada
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		10	9	[1]
90 Days and Accruing | Europe
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		47	47	[1]
90 Days and Accruing | France
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		29	25	[1]
90 Days and Accruing | U.K./Ireland
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		1	1	[1]
90 Days and Accruing | Central
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[3]	8	7	[4]
90 Days and Accruing | Southern
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[5]	7	10	[4]
90 Days and Accruing | Nordics
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables	[6]	2	4	[4]
90 Days and Accruing | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Finance Receivables		$ 0	$ 0	[1]
[1]	In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.
[2]	Switzerland, Germany, Austria, Belgium and Holland.
[3]	Switzerland, Germany, Austria, Belgium and Holland.
[4]	In the first quarter 2016, as a result of an internal reorganization, a U.S. leasing unit previously classified in Other was reclassified to the U.S. Prior year amounts have been reclassified to conform to current year presentation.
[5]	Italy, Greece, Spain and Portugal.
[6]	Sweden, Norway, Denmark and Finland.

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Inventories, net [Abstract]
Finished goods	$ 855	$ 792
Work-in-process	65	51
Raw materials	97	99
Total Inventories	$ 1,017	$ 942

Investment in Affiliates, at 48

Investment in Affiliates, at Equity (Details) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Total Equity in Net Income of Unconsolidated Affiliates		$ 22	$ 29	$ 59	$ 63
Fuji Xerox
Schedule of Equity Method Investments [Line Items]
Total Equity in Net Income of Unconsolidated Affiliates		$ 19	25	$ 52	56
Ownership percentage		25.00%		25.00%
Summary of Operations:
Revenues		$ 2,450	2,389	$ 5,128	5,120
Costs and expenses		2,329	2,211	4,793	4,731
Income before income taxes		121	178	335	389
Income tax expense		44	63	109	129
Net Income		77	115	226	260
Less: Net income – noncontrolling interests		1	2	3	4
Net Income – Fuji Xerox		$ 76	$ 113	$ 223	$ 256
Weighted Average Exchange Rate	[1]	107.84	121.39	111.62	120.27
Other investments
Schedule of Equity Method Investments [Line Items]
Total Equity in Net Income of Unconsolidated Affiliates		$ 3	$ 4	$ 7	$ 7
[1]	Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs (Details

Restructuring Programs (Details) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)		Jun. 30, 2016USD ($)Employees		Jun. 30, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related costs		$ 71	$ 157		$ 197		$ 171
Restructuring and Related Cost, Expected Number of Positions Eliminated (approximately) | Employees					6,100
Three-Year Strategic Transformation Program - Professional Support Services					$ 11
Restructuring Reserve [Roll Forward]
Balance at beginning of period					24
Provision					203
Reversals					(17)
Net Current Period Charges		63	157		186	[1]	171
Charges against reserve		(39)	(175)		(66)		(212)
Balance at end of period		144			144
Reconciliation To Consolidated Statements Of Cash Flows [Abstract]
Charges against reserve		(39)	(175)		(66)		(212)
Asset impairments		2	146		2		146
Effects of foreign currency and other non-cash items		0	(1)		(1)		5
Restructuring Cash Payments		(37)	(30)		(65)		(61)
Services [Member]
Restructuring Reserve [Roll Forward]
Net Current Period Charges		25	149	[2]	62		154	[2]
Technology Segment [Member]
Restructuring Reserve [Roll Forward]
Net Current Period Charges		42	8		128		17
Other [Member]
Restructuring Reserve [Roll Forward]
Net Current Period Charges		(4)	$ 0		(4)		$ 0
Severance and Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					197
Restructuring Reserve [Roll Forward]
Balance at beginning of period					22
Provision					197
Reversals					(12)
Net Current Period Charges	[1]				185
Charges against reserve					(64)
Balance at end of period		143			143
Reconciliation To Consolidated Statements Of Cash Flows [Abstract]
Charges against reserve					(64)
Lease Cancellation and Other Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					4
Restructuring Reserve [Roll Forward]
Balance at beginning of period					2
Provision					4
Reversals					0
Net Current Period Charges	[1]				4
Charges against reserve					(5)
Balance at end of period		1			1
Reconciliation To Consolidated Statements Of Cash Flows [Abstract]
Charges against reserve					(5)
Asset Impairments [Member]
Restructuring Reserve [Roll Forward]
Balance at beginning of period					0
Provision	[3]				2
Reversals	[3]				(5)
Net Current Period Charges	[1],[3]				(3)
Charges against reserve	[3]				3
Balance at end of period		$ 0			0
Reconciliation To Consolidated Statements Of Cash Flows [Abstract]
Charges against reserve	[3]				$ 3
[1]	Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairments charges.
[2]	(1)The three and six months ended June 30, 2015 includes $146 of software asset impairment charges.
[3]	Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision.

Debt - Debt Issuances (Details)

Debt - Debt Issuances (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016InterestDays	Apr. 01, 2016USD ($)	Mar. 15, 2016USD ($)	Mar. 11, 2016USD ($)	Mar. 04, 2016USD ($)
Debt Instrument [Line Items]
Number of publicly traded companies, upon completion of Xerox's Planned Company Separation | Interest	2
Senior Notes due 2016 6.40% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.40%
Notes due 2016 7.20% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.20%
Senior Debt Obligations [Member]
Debt Instrument [Line Items]
Unsecured Debt		$ 250		$ 750	$ 1,000
Debt Instrument, Maturity | Days	364
Senior Debt Obligations [Member] | Interest rate - Libor plus 1.50% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		1.50%
Minimum [Member] | Senior Debt Obligations [Member] | Interest rate - Libor plus 1.50% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		2.13%
Maximum [Member] | Senior Debt Obligations [Member] | Interest rate - Libor plus 1.50% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		2.16%
Senior Notes due 2016 and Notes due 2016 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 950
Senior Notes due 2016 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 700
Notes Due 2016 [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 0

Debt - Interest Income and Expe

Debt - Interest Income and Expense (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Disclosure [Abstract]
Interest expense	[1]	$ 81	$ 88	$ 169	$ 177
Interest income	[2]	$ 84	$ 89	$ 169	$ 181
[1]	Includes Equipment financing interest as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of Income.
[2]	Includes Finance income as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of Income.

Financial Instruments - Fair Va

Financial Instruments - Fair Value Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative, Notional Amount	$ 2,843	$ 3,212
Senior Notes Due 2021 [Member]
Derivative [Line Items]
Notional Amount	300
Derivative Asset, Fair Value, Gross Asset	$ 18
Weighted Average Interest Rate Paid	2.52%
Interest Rate Received	4.50%

Financial Instruments - Summary

Financial Instruments - Summary of Derivative Instruments Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative Asset (Liability)	$ 158	$ 49
Other current assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	172	62
Liabilities [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Liabilities	(14)	(13)
Senior Notes Due 2021 [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	18
Derivatives Designated as Hedging Instruments [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative Asset (Liability)	37	(1)
Derivatives Designated as Hedging Instruments [Member] | Other Assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative Asset (Liability)	55	6
Derivatives Designated as Hedging Instruments [Member] | Foreign exchange contracts - forwards [Member] | Other current assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	39	4
Derivatives Designated as Hedging Instruments [Member] | Foreign exchange contracts - forwards [Member] | Other current liabilities [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Liabilities	(2)	(4)
Derivatives Designated as Hedging Instruments [Member] | Currency options [Member] | Other current liabilities [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Liabilities	0	(1)
Derivatives Designated as Hedging Instruments [Member] | Interest rate swap [Member] | Other long-term assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	18	7
Not Designated as Hedging Instrument [Member] | Foreign exchange contracts - forwards [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative Asset (Liability)	103	43
Not Designated as Hedging Instrument [Member] | Foreign exchange contracts - forwards [Member] | Other current assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	115	51
Not Designated as Hedging Instrument [Member] | Foreign exchange contracts - forwards [Member] | Other current liabilities [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Liabilities	$ (12)	$ (8)

Financial Instruments - Summa54

Financial Instruments - Summary of Derivative Instruments Gain (Losses) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Summary of Derivative Instruments Gains (Losses) [Abstract]
Net losses recorded in AOCL expected to be reclassified to net income in the future			$ 33,000,000
Foreign Currency Transaction Gain (Loss), before Tax	$ 3,000,000	$ 5,000,000	(1,000,000)	$ (1,000,000)
Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) recognized in OCI (effective portion)	41,000,000	(24,000,000)	57,000,000	7,000,000
Interest Expense [Member] | Fair Value Hedging [Member] | Interest Rate Contract [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) recognized in interest expense	2,000,000	(4,000,000)	11,000,000	0
Hedged item (loss) gain recognized in interest expense	(2,000,000)	4,000,000	(11,000,000)	0
Cost of Sales [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) reclassified from AOCI to income - Cost of sales (effective portion)	8,000,000	0	7,000,000	(10,000,000)
Derivative gain (loss) reclassified from AOCI to income - Cost of sales (effective portion)	0			0
Underlying, Derivative	0
Foreign Currency Gain (Loss) [Member] | Foreign Exchange Forward [Member] | Derivatives Not Designated as Hedging Instruments [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 78,000,000	$ (50,000,000)	$ 149,000,000	$ (35,000,000)

Fair Value of Financial Asset55

Fair Value of Financial Assets and Liabilities - Recurring (Details) - Fair Value, Measurements, Recurring [Member] - Significant Other Observable Inputs (Level 2) [Member] - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets:
Interest rate swaps	$ 18	$ 7
Deferred compensation investments in cash surrender life insurance	94	92
Deferred compensation investments in mutual funds	35	33
Total	301	187
Liabilities:
Deferred compensation plan liabilities	127	125
Total	141	138
Foreign Exchange Forward [Member]
Assets:
Foreign exchange contracts	154	55
Liabilities:
Foreign derivative contracts	14	12
Currency options [Member]
Liabilities:
Foreign derivative contracts	$ 0	$ 1

Fair Value of Financial Asset56

Fair Value of Financial Assets and Liabilities - Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 1,203	$ 1,368
Accounts receivable, net	2,477	2,319
Short-term debt	2,029	985
Long-term debt	5,355	6,354
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1,203	1,368
Accounts receivable, net	2,477	2,319
Short-term debt	2,048	976
Long-term debt	$ 5,394	$ 6,395

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions		3 Months Ended				6 Months Ended			12 Months Ended
		Jun. 30, 2016		Jun. 30, 2015		Jun. 30, 2016	Jun. 30, 2015		Dec. 31, 2016	Dec. 31, 2015
Components of Net Periodic Benefit Costs:
Recognized curtailment gain				$ (22)
Defined Benefit Plans		$ 33		32		$ 76	$ 73
Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income):
Net actuarial loss (gain)		(100)		200		(223)	112
Amortization of prior service credit	[1]	(3)		(32)		(5)	(40)
Amortization of net actuarial loss	[1]	41		46		93	99
Pension Plan [Member]
Contributions [Abstract]
Defined Benefit Plan, Contributions by Employer						71	98			$ 309
U.S. Plans [Member]
Components of Net Periodic Benefit Costs:
Service cost		1		1		2	2
Interest cost		35		38		73	76
Expected return on plan assets		(36)		(38)		(76)	(76)
Recognized net actuarial loss		7		6		12	13
Amortization of prior service credit		(1)		0		(1)	(1)
Recognized settlement loss		17		18		46	45
Recognized curtailment gain		0		0		0	0
Defined Benefit Plans		23		25		56	59
Defined contribution plans		15		15		29	31	[2]
Net Periodic Benefit Cost		38		40		85	90
Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income):
Net actuarial loss (gain)		134	[3]	(140)	[3]	257	(52)
Amortization of prior service credit		1		0		1	1
Amortization of net actuarial loss		(24)		(24)		(58)	(58)
Total Recognized in Other Comprehensive Loss (Income)	[4]	111		(164)		200	(109)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income)		149		(124)		285	(19)
Contributions [Abstract]
Defined Benefit Plan, Contributions by Employer						13	13			177
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, before Tax		0		0		0	0
Non-U.S. Plans [Member]
Components of Net Periodic Benefit Costs:
Service cost		10		9		16	17
Interest cost		53		53		105	106
Expected return on plan assets		(69)		(74)		(133)	(147)
Recognized net actuarial loss		17		21		34	40
Amortization of prior service credit		(1)		(2)		(2)	(2)
Recognized settlement loss		0		0		0	0
Recognized curtailment gain		0		0		0	0
Defined Benefit Plans		10		7		20	14
Defined contribution plans		10		11		20	20	[2]
Net Periodic Benefit Cost		20		18		40	34
Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income):
Net actuarial loss (gain)		0	[3]	(2)	[3]	0	(2)
Amortization of prior service credit		1		2		2	2
Amortization of net actuarial loss		(17)		(21)		(34)	(40)
Total Recognized in Other Comprehensive Loss (Income)	[4]	(16)		(21)		(32)	(40)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income)		4		(3)		8	(6)
Contributions [Abstract]
Defined Benefit Plan, Contributions by Employer						58	85			132
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, before Tax		0		0		0	0
Retiree Health [Member]
Components of Net Periodic Benefit Costs:
Service cost		2		2		3	4
Interest cost		8		8		16	17
Expected return on plan assets		0		0		0	0
Recognized net actuarial loss		0		1		1	1
Amortization of prior service credit		(1)		(8)		(2)	(15)
Recognized settlement loss		0		0		0	0
Recognized curtailment gain		0		(22)		0	(22)
Defined Benefit Plans		9		(19)		18	(15)
Net Periodic Benefit Cost		9		(19)		18	(15)
Other changes in plan assets and benefit obligations recognized in Other Comprehensive Loss (Income):
Net actuarial loss (gain)		(34)	[3]	(58)	[3]	(34)	(58)
Amortization of prior service credit		1		8		2	15
Amortization of net actuarial loss		0		(1)		(1)	(1)
Total Recognized in Other Comprehensive Loss (Income)	[4]	(33)		(29)		(33)	(22)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Loss (Income)		(24)		(48)		(15)	(37)
Contributions [Abstract]
Defined Benefit Plan, Contributions by Employer						30	29			$ 63
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, before Tax		$ 0		$ 22		$ 0	22
Forerecast | Pension Plan [Member]
Schedule of Defined Benefit Plans Disclosures [Line Items]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year									$ 69
Contributions [Abstract]
Anticipated total cash contributions to defined benefit and post retirement plans in the current year	[5]								140
Forerecast | U.S. Plans [Member]
Schedule of Defined Benefit Plans Disclosures [Line Items]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year									12
Contributions [Abstract]
Anticipated total cash contributions to defined benefit and post retirement plans in the current year	[5]								25
Forerecast | Non-U.S. Plans [Member]
Schedule of Defined Benefit Plans Disclosures [Line Items]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year									57
Contributions [Abstract]
Anticipated total cash contributions to defined benefit and post retirement plans in the current year	[5]								115
Forerecast | Retiree Health [Member]
Schedule of Defined Benefit Plans Disclosures [Line Items]
Defined Benefit Plans, Estimated Future Employer Contributions in Current Fiscal Year									35
Contributions [Abstract]
Anticipated total cash contributions to defined benefit and post retirement plans in the current year	[5]								$ 65
ITO [Member]
Components of Net Periodic Benefit Costs:
Defined contribution plans							$ 4
[1]	Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information.
[2]	The six months ended June 30, 2015 excludes defined contribution expense of $4 related to our ITO business, which was reported as a discontinued operation up to its sale on June 30, 2015. Refer to Note 4 - Divestitures for additional information regarding this sale.
[3]	The net actuarial loss (gain) for U.S. Plans primarily reflects (i) the remeasurement of our primary U.S. pension plans as a result of the payment of periodic settlements; and (ii) adjustments for the actuarial valuation results based on January 1st plan census data.
[4]	Amounts represent the pre-tax effect included within Other comprehensive loss. Refer to Note 15 - Other Comprehensive (Loss) Income for related tax effects and the after-tax amounts.
[5]	These full year estimates are based on current expectations that we will make additional 2016 cash contributions of $69 ($12 U.S. and $57 Non-U.S) to our defined benefit pension plans and $35 to our retiree health benefit plans.

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended					6 Months Ended
		Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 9,074				$ 9,074
Noncontrolling Interests, Beginning Balance			43				43
Total Equity, Beginning Balance			$ 9,117		$ 10,097		9,117	$ 10,753
Comprehensive income (loss), net attributable to Xerox		$ 123				$ 253	245	97
Comprehensive income, net attributable to noncontrolling interests		2				6	4	10
Comprehensive income (loss), net including portion attributable to noncontrolling interests		125				259	249	107
Cash dividends declared - common	[1]						(159)	(155)
Cash dividends declared - preferred	[2]						(12)	(12)
Stock option and incentive plans, net							30	57
Payments to acquire treasury stock, including fees								(611)
Cancellation of treasury stock								0
Distributions to noncontrolling interests							(9)	(42)
Ending Balance		9,178		$ 9,074			9,178
Noncontrolling Interests, Ending Balance		38		43			38
Total Equity, Ending Balance		$ 9,216		$ 9,117		$ 10,097	$ 9,216	$ 10,097
Dividends per common share (in dollars per share)		$ 0.0775	$ 0.0775			$ 0.07	$ 0.1550	$ 0.14
Dividends per preferred share (in dollars per share)		$ 20	$ 20	$ 20	$ 20	$ 20
Treasury Stock, Shares, Retired		0
Xerox Shareholders’ Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 9,074		$ 10,054		$ 9,074	$ 10,678
Comprehensive income (loss), net attributable to Xerox							245	97
Cash dividends declared - common	[1]						(159)	(155)
Cash dividends declared - preferred	[2]						(12)	(12)
Stock option and incentive plans, net							30	57
Payments to acquire treasury stock, including fees								(611)
Cancellation of treasury stock								0
Distributions to noncontrolling interests							0	0
Ending Balance		$ 9,178		$ 9,074		$ 10,054	9,178	10,054
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			1,013		1,097		1,013	1,124
Comprehensive income (loss), net attributable to Xerox							0	0
Cash dividends declared - common	[1]						0	0
Cash dividends declared - preferred	[2]						0	0
Stock option and incentive plans, net							0	3
Payments to acquire treasury stock, including fees								0
Cancellation of treasury stock								(30)
Distributions to noncontrolling interests							0	0
Ending Balance		1,013		1,013		1,097	1,013	1,097
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			3,017		3,967		3,017	4,283
Comprehensive income (loss), net attributable to Xerox							0	0
Cash dividends declared - common	[1]						0	0
Cash dividends declared - preferred	[2]						0	0
Stock option and incentive plans, net							30	54
Payments to acquire treasury stock, including fees								0
Cancellation of treasury stock								(370)
Distributions to noncontrolling interests							0	0
Ending Balance		3,047		3,017		3,967	3,047	3,967
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance					(316)			(105)
Comprehensive income (loss), net attributable to Xerox								0
Cash dividends declared - common	[1]							0
Cash dividends declared - preferred	[2]							0
Stock option and incentive plans, net								0
Payments to acquire treasury stock, including fees								(611)
Cancellation of treasury stock								400
Distributions to noncontrolling interests								0
Ending Balance						(316)		(316)
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			9,686		9,605		9,686	9,535
Comprehensive income (loss), net attributable to Xerox							189	237
Cash dividends declared - common	[1]						(159)	(155)
Cash dividends declared - preferred	[2]						(12)	(12)
Stock option and incentive plans, net							0	0
Payments to acquire treasury stock, including fees								0
Cancellation of treasury stock								0
Distributions to noncontrolling interests							0	0
Ending Balance		9,704		9,686		9,605	9,704	9,605
AOCL
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	[3]		(4,642)		(4,299)		(4,642)	(4,159)
Comprehensive income (loss), net attributable to Xerox	[3]						56	(140)
Cash dividends declared - common	[1],[3]						0	0
Cash dividends declared - preferred	[2],[3]						0	0
Stock option and incentive plans, net	[3]						0	0
Payments to acquire treasury stock, including fees	[3]							0
Cancellation of treasury stock	[3]							0
Distributions to noncontrolling interests	[3]						0	0
Ending Balance	[3]	(4,586)		(4,642)		(4,299)	(4,586)	(4,299)
Non-controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interests, Beginning Balance			$ 43		$ 43		43	75
Comprehensive income, net attributable to noncontrolling interests							4	10
Cash dividends declared - common	[1]						0	0
Cash dividends declared - preferred	[2]						0	0
Stock option and incentive plans, net							0	0
Payments to acquire treasury stock, including fees								0
Cancellation of treasury stock								0
Distributions to noncontrolling interests							(9)	(42)
Noncontrolling Interests, Ending Balance		$ 38		$ 43		$ 43	$ 38	$ 43
[1]	Cash dividends declared on common stock of $0.0775 per share in each quarter of 2016 and $0.07 per share in each quarter of 2015.
[2]	Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2016 and 2015.
[3]	Refer to Note 15 - Other Comprehensive (Loss) Income for components of AOCL.

Other Comprehensive Income (L59

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Other Comprehensive Income (Loss) [Abstract]
Translation Adjustments (Losses) Gains, pre-tax		$ (75)	$ 191	$ 118	$ (315)
Translation Adjustments (Losses) Gains, net of Tax	[1]	(77)	194	114	(315)
Changes in fair value of cash flow hedges - gains (losses), pre-tax		41	(24)	57	7
Changes in fair value of cash flow hedges - gains (losses), net of tax		30	(18)	39	7
Changes in cash flow hedges reclassed to earnings, pre-tax	[2]	(8)	0	(7)	10
Changes in cash flow hedges reclassed to earnings, net of tax	[2]	(5)	(1)	(5)	4
Other (losses) gains, pre-tax		(1)	1	(1)	0
Other (losses) gains, net of tax		(1)	0	(1)	(1)
Net Unrealized Gains (Losses), pre-tax		32	(23)	49	17
Net Unrealized Gains (Losses), net of tax	[1]	24	(19)	33	10
Net actuarial (losses) gains, pre-tax		(100)	200	(223)	112
Net actuarial (losses) gains, net of tax		(62)	123	(138)	69
Prior service amortization, pre-tax	[3]	(3)	(32)	(5)	(40)
Prior service amortization, net of tax	[3]	(2)	(19)	(3)	(24)
Actuarial loss amortization/settlement, pre-tax	[3]	41	46	93	99
Actuarial loss amortization/settlement, net of tax	[3]	28	32	63	67
Fuji Xerox changes in defined benefit plans, net	[4]	(25)	8	(100)	27
Fuji Xerox changes in defined benefit plans, net, net of tax	[4]	(25)	8	(100)	27
Other gains (losses), pre-tax	[5]	81	(76)	86	27
Other gains (losses), net of tax	[5]	81	(77)	86	26
Change in Defined Benefit Plans (Losses) Gains, Pre-tax		(6)	146	(149)	225
Change in Defined Benefit Plans (Losses) Gains, Net of Tax	[1]	20	67	(92)	165
Other Comprehensive (Loss) Income, pre-tax		(49)	314	18	(73)
Other Comprehensive (Loss) Income, net of tax	[1]	(33)	242	55	(140)
Other comprehensive (loss) income attributable to noncontrolling interest, pre-tax		(1)	1	(1)	0
Other comprehensive (loss) income attributable to noncontrolling interest, net of tax		(1)	1	(1)	0
Other Comprehensive (Loss) Income Attributable to Xerox, pre-tax		(48)	313	19	(73)
Other Comprehensive (Loss) Income, Attributable to Xerox, net of tax		(32)	$ 241	56	$ (140)
Cumulative translation adjustments		(2,287)		(2,287)		$ (2,402)
Other unrealized gains, net		34		34		1
Benefit plans net actuarial losses and prior service credits	[6]	(2,333)		(2,333)		(2,241)
Total Accumulated Other Comprehensive Loss Attributable to Xerox		$ (4,586)		$ (4,586)		$ (4,642)
[1]	Refer to Note 15 - Other Comprehensive (Loss) Income for gross components of Other Comprehensive (Loss) Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.
[2]	Reclassified to Cost of sales - refer to Note 11 - Financial Instruments for additional information regarding our cash flow hedges.
[3]	Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information.
[4]	Represents our share of Fuji Xerox's benefit plan changes.
[5]	Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits in AOCL.
[6]	Includes our share of Fuji Xerox.

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic Earnings per Share:
Net income from continuing operations attributable to Xerox	$ 155	$ 107	$ 189	$ 298
Net Income From Continuing Operations Available to Common Shareholders	149	101	177	286
Net loss from discontinued operations attributable to Xerox	0	(95)	0	(61)
Net Income Available to Common Shareholders	$ 149	$ 6	$ 177	$ 225
Weighted average common shares outstanding	1,013,284	1,087,720	1,013,164	1,098,370
Continuing operations (dollars per share)	$ 0.15	$ 0.09	$ 0.17	$ 0.26
Discontinued operations (dollars per share)	0	(0.08)	0	(0.06)
Total Basic Earnings per Share	$ 0.15	$ 0.01	$ 0.17	$ 0.20
Diluted Earnings per Share:
Net income from continuing operations attributable to Xerox	$ 155	$ 107	$ 189	$ 298
Net Income From Continuing Operations Available to Common Shareholders	149	101	177	286
Net loss from discontinued operations attributable to Xerox	0	(95)	0	(61)
Net Income Available to Common Shareholders	$ 149	$ 6	$ 177	$ 225
Weighted average common shares outstanding	1,013,284	1,087,720	1,013,164	1,098,370
Common shares issuable with respect to:
Weighted Average Common Shares Outstanding - Diluted	1,022,021	1,105,269	1,021,157	1,115,285
Continuing operations (dollars per share)	$ 0.15	$ 0.09	$ 0.17	$ 0.26
Discontinued operations (dollars per share)	0	(0.08)	0	(0.06)
Total Diluted Earnings per Share	$ 0.15	$ 0.01	$ 0.17	$ 0.20
Stock options [Member]
Common shares issuable with respect to:
Stock options and Restricted stock and performance shares (in shares)	822	1,409	837	1,615
Restricted Stock and Performance Shares [Member]
Common shares issuable with respect to:
Stock options and Restricted stock and performance shares (in shares)	7,915	16,140	7,156	15,300
Convertible Preferred Stock [Member]
Common shares issuable with respect to:
Convertible preferred stock	0	0	0	0
Earnings (loss) per share, basic [Member]
Basic Earnings per Share:
Accrued dividends on preferred stock	$ (6)	$ (6)	$ (12)	$ (12)
Earnings (loss) per share, diluted [Member]
Basic Earnings per Share:
Accrued dividends on preferred stock	$ (6)	$ (6)	$ (12)	$ (12)

Earnings per Share - Anti Dilut

Earnings per Share - Anti Dilutive Securities (Details) - $ / shares shares in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	44,819		43,537	45,565	44,170
Dividends per common share (in dollars per share)	$ 0.0775	$ 0.0775	$ 0.07	$ 0.1550	$ 0.14
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	1,944		2,590	1,930	2,384
Restricted Stock and Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	15,909		13,981	16,669	14,820
Convertible preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	26,966		26,966	26,966	26,966

Contingencies and Litigation (D

Contingencies and Litigation (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Letters of Credit and Surety Bonds Outstanding, Amount	$ 88
Brazil Tax And Labor Contingencies [Member]
Loss Contingencies [Line Items]
Unreserved tax and labor contingencies	751	$ 577
Escrow cash deposits	87
Net book value of assets with liens	18
Letters of Credit Outstanding, Amount	$ 143

Contingencies and Litigation -

Contingencies and Litigation - Other Contingencies (Details) loans in Millions, $ in Millions	Jun. 30, 2016USD ($)loans
Letter of Credit [Member]
Guarantor Obligations [Line Items]
Maximum exposure, undiscounted	$ 367
Surety Bond [Member]
Guarantor Obligations [Line Items]
Maximum exposure, undiscounted	$ 783
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member]
Guarantor Obligations [Line Items]
Outstanding Student Loan Portfolio, Loans | loans	1.7
Outstanding Principal Balance - Student Loan Portfolio	$ 25,500
Reserves for losses on defaulted loans	$ 4