Xerox 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	XEROX CORP
Entity Central Index Key	0000108772
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		221,283,933
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	XRX
Security Exchange Name	NYSE
Entity File Number	001-04471
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	16-0468020
Entity Address, Address Line One	P.O. Box 4505, 201 Merritt 7
Entity Address, City or Town	Norwalk
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06851-1056
City Area Code	203
Local Phone Number	968-3000
Document Quarterly Report	true
Document Transition Report	false
XEROX HOLDINGS CORPORATION
Entity Information [Line Items]
Entity Registrant Name	Xerox Holdings Corp
Entity Central Index Key	0001770450
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-39013
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	83-3933743
Entity Address, Address Line One	P.O. Box 4505, 201 Merritt 7
Entity Address, City or Town	Norwalk
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06851-1056
City Area Code	203
Local Phone Number	968-3000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Total Revenues	[1],[2]	$ 2,289	$ 2,510	$ 4,495	$ 4,945
Costs and Expenses
Cost of financing		33	33	65	67
Research, development and engineering expenses		88	101	180	201
Selling, administrative and general expenses		519	624	1,067	1,252
Restructuring and related costs		37	34	149	62
Amortization of intangible assets		11	12	26	24
Transaction and related costs, net		4	58	4	96
Other expenses, net		38	39	77	69
Total Costs and Expenses		2,089	2,377	4,212	4,678
Income before Income Taxes and Equity Income		200	133	283	267
Income tax expense		50	38	42	78
Equity in net income (loss) of unconsolidated affiliates		34	19	79	(49)
Net Income		184	114	320	140
Less: Net income attributable to noncontrolling interests		3	2	6	5
Net Income Attributable to Xerox		$ 181	$ 112	$ 314	$ 135
Basic Earnings per Share:
Basic Earnings per Share (in dollars per share)		$ 0.79	$ 0.42	$ 1.36	$ 0.50
Diluted Earnings per Share:
Diluted Earnings per Share (in dollars per share)		$ 0.77	$ 0.42	$ 1.32	$ 0.50
Sales
Revenues
Total Revenues	[1]	$ 825	$ 927	$ 1,575	$ 1,772
Costs and Expenses
Cost of sales and services	[1]	552	593	1,016	1,125
Services, maintenance and rentals
Revenues
Total Revenues	[1]	1,403	1,515	2,796	3,034
Costs and Expenses
Cost of sales and services	[1]	807	883	1,628	1,782
Financing
Revenues
Total Revenues		$ 61	$ 68	$ 124	$ 139
[1]	Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation for additional information.
[2]	Geographic area data is based upon the location of the subsidiary reporting the revenue.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income		$ 184	$ 114	$ 320	$ 140
Less: Net income attributable to noncontrolling interests		3	2	6	5
Net Income Attributable to Xerox		181	112	314	135
Other Comprehensive (Loss) Income, Net
Translation adjustments, net	[1]	(4)	(322)	33	(146)
Unrealized (losses) gains, net	[1]	0		2
Unrealized (losses) gains, net	[1]		(3)		14
Changes in defined benefit plans, net	[1]	9	90	10	108
Other Comprehensive Income (Loss), Net Attributable to Xerox	[1]	5	(235)	45	(24)
Comprehensive Income (Loss), Net
Comprehensive Income (Loss), Net		189	(121)	365	116
Less: Comprehensive income, net attributable to noncontrolling interests		3	2	6	5
Comprehensive Income (Loss), Net Attributable to Xerox		$ 186	$ (123)	$ 359	$ 111
[1]	Refer to Note 19 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income (Loss), reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)		Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents		$ 712,000,000	$ 1,084,000,000
Accounts receivable, net		1,256,000,000	1,276,000,000
Billed portion of finance receivables, net		108,000,000	105,000,000
Finance receivables, net		1,177,000,000	1,218,000,000
Inventories		788,000,000	818,000,000
Other current assets		196,000,000	194,000,000
Total current assets		4,237,000,000	4,695,000,000
Finance receivables due after one year, net		2,064,000,000	2,149,000,000
Equipment on operating leases, net		399,000,000	442,000,000
Land, buildings and equipment, net		455,000,000	499,000,000
Investments in affiliates, at equity		1,472,000,000	1,403,000,000
Intangible assets, net		212,000,000	220,000,000
Goodwill		3,887,000,000	3,867,000,000
Deferred tax assets		739,000,000	740,000,000
Other long-term assets		1,219,000,000	859,000,000
Total Assets		14,684,000,000	14,874,000,000
Liabilities and Equity
Short-term debt and current portion of long-term debt		866,000,000	961,000,000
Accounts payable		1,052,000,000	1,091,000,000
Accrued compensation and benefits costs		312,000,000	349,000,000
Accrued expenses and other current liabilities		946,000,000	850,000,000
Total current liabilities		3,176,000,000	3,251,000,000
Long-term debt		3,962,000,000	4,269,000,000
Pension and other benefit liabilities		1,502,000,000	1,482,000,000
Post-retirement medical benefits		348,000,000	350,000,000
Other long-term liabilities		490,000,000	269,000,000
Total Liabilities		9,478,000,000	9,621,000,000
Commitments and Contingencies (See Note 21)
Convertible Preferred Stock		214,000,000	214,000,000
Common stock		225,000,000	232,000,000
Additional paid-in capital		3,124,000,000	3,321,000,000
Treasury stock, at cost		(131,000,000)	(55,000,000)
Retained earnings		5,391,000,000	5,072,000,000
Accumulated other comprehensive loss		(3,647,000,000)	(3,565,000,000)
Xerox shareholders’ equity		4,962,000,000	5,005,000,000
Noncontrolling interests		30,000,000	34,000,000
Total Equity		4,992,000,000	5,039,000,000
Total Liabilities and Equity		$ 14,684,000,000	$ 14,874,000,000
Shares of common stock issued (in shares)		224,752,000	231,690,000
Treasury stock (in shares)		(3,965,000)	(2,067,000)
Shares of Common Stock Outstanding (in shares)		220,787,000	229,623,000
XEROX HOLDINGS CORPORATION
Liabilities and Equity
Common stock		$ 100
Common stock shares receivable	[1]	(100)
Total Equity		$ 0
Shares of Common Stock Outstanding (in shares)		100
Common stock par value (in dollars per share)		$ 1
[1]	Shares of Xerox Holdings Corporation common stock have a par value of $1.00 per share. Refer to Note 1 - Basis of Presentation - Corporate Reorganization, for additional information.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities
Net Income	$ 184	$ 114	$ 320	$ 140
Adjustments required to reconcile Net income to Cash flows from operating activities
Depreciation and amortization	110	138	228	276
Provisions	20	23	42	40
Net gain on sales of businesses and assets	0	(16)	(1)	(32)
Undistributed equity in net income of unconsolidated affiliates	(1)	(16)	(43)	52
Stock-based compensation	15	13	30	29
Restructuring and asset impairment charges	18	34	72	62
Payments for restructurings	(21)	(37)	(54)	(91)
Defined benefit pension cost	32	26	68	53
Contributions to defined benefit pension plans	(36)	(37)	(70)	(75)
(Increase) decrease in accounts receivable and billed portion of finance receivables	(28)	(10)	11	36
Decrease (increase) in inventories	67	16	17	(71)
Increase in equipment on operating leases	(42)	(63)	(72)	(119)
Decrease in finance receivables	38	57	119	142
Decrease in other current and long-term assets	17	38	15	21
(Decrease) increase in accounts payable	(21)	(1)	(55)	43
Decrease in accrued compensation	(11)	(69)	(84)	(101)
Decrease in other current and long-term liabilities	(54)	(5)	(8)	(4)
Net change in income tax assets and liabilities	8	28	(13)	41
Net change in derivative assets and liabilities	2	(17)	10	(23)
Other operating, net	16	19	7	32
Net cash provided by operating activities	313	235	539	451
Cash Flows from Investing Activities
Cost of additions to land, buildings, equipment and software	(16)	(32)	(31)	(50)
Proceeds from sales of businesses and assets	0	16	1	32
Acquisitions, net of cash acquired	(38)	0	(42)	0
Other investing, net	0	1	0	1
Net cash used in investing activities	(54)	(15)	(72)	(17)
Cash Flows from Financing Activities
Net payments on short-term debt	(2)	0	0	(1)
Proceeds from issuance of long-term debt	3	3	5	5
Payments on long-term debt	0	(272)	(406)	(310)
Dividends	(60)	(68)	(122)	(135)
Payments to acquire treasury stock, including fees	(197)	0	(300)	0
Other financing, net	(21)	(2)	(23)	(15)
Net cash used in financing activities	(277)	(339)	(846)	(456)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	8	(28)	7	(19)
Decrease in cash, cash equivalents and restricted cash	(10)	(147)	(372)	(41)
Cash, cash equivalents and restricted cash at beginning of period	786	1,474	1,148	1,368
Cash, Cash Equivalents and Restricted Cash at End of Period	$ 776	$ 1,327	$ 776	$ 1,327

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
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 2018 Annual Report on Form 10-K ("2018 Annual Report") except as noted herein, 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 2018 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.” Corporate Reorganization On March 6, 2019, the Xerox Board of Directors approved a reorganization (the “Reorganization”) of the Company's corporate structure into a holding company structure. The Reorganization was subject to the approval of shareholders, which was obtained at the annual shareholders meeting held May 21, 2019. On July 31, 2019, Xerox completed the Reorganization, pursuant to which Xerox became a direct, wholly-owned subsidiary of Xerox Holdings Corporation ("Xerox Holdings"). The business operations, directors and executive officers of the Company did not change as a result of the Reorganization. In this Reorganization, shareholders of Xerox (the predecessor publicly held parent company) became shareholders of Xerox Holdings on a one-for-one basis; maintaining the same number of shares and ownership percentage as held in Xerox immediately prior to the Reorganization. In addition, the individual holder of the shares of Xerox’s Series B Preferred Stock exchanged those shares for the same number of shares of Xerox Holdings Series A Preferred Stock. Each share of Xerox Holdings Series A Preferred Stock has the same designations, rights, powers and preferences, and the same qualifications, limitations and restrictions as the shares of Xerox Series B Preferred Stock, with the addition of certain voting rights. In connection with the Reorganization, Xerox Holdings assumed each of the Xerox stock plans, all unexercised and unexpired options to purchase Xerox common stock and each right to acquire or vest in a share of Xerox common stock, including restricted stock unit awards, performance share awards and deferred stock units that are outstanding under the Xerox stock plans. In addition, Xerox Holdings became a guarantor of Xerox’s existing Credit Facility. The Reorganization was accounted for as a transaction among entities under common control and is expected to be a tax-free transaction for U.S. federal income tax purposes. Shares of Xerox Holdings common stock will trade on the New York Stock Exchange under the current ticker symbol “XRX”, formerly used by Xerox. Subsequent to the Reorganization, Xerox Holdings contributed the Xerox Series B Preferred Stock it held to Xerox in exchange for additional capital and Xerox subsequently extinguished the Series B Preferred Stock. The contribution and extinguishment were recorded at carrying value. In addition, the capital structure of Xerox was modified such that its issued and outstanding common shares now held by Xerox Holdings were exchanged for 1,000 shares of Xerox $1 par value common stock. Accordingly, we reclassified approximately $221 from Xerox’s Common stock to Additional paid-in capital. Since the Reorganization was completed after the end of the second quarter 2019, or June 30, 2019, the accompanying financial statements presented in this filing for both Xerox and Xerox Holdings reflect their ownership structure and consolidated results prior to the Reorganization, or as of June 30, 2019. Xerox Holdings was formed on March 8, 2019. There was no income statement activity for Xerox Holdings since formation through the period ended June 30, 2019 and thus, no income statement is provided. Shared Services Arrangement with HCL Technologies In March 2019, as part of Project Own It, we entered into a shared services arrangement with HCL Technologies (HCL) pursuant to which we are outsourcing certain global administrative and support functions, including, among others, selected information technology and finance functions (excluding accounting). The transition of these functions to HCL is expected to take up to 18 months. HCL is expected to make certain up-front and ongoing investments in software, tools and other technology to consolidate, optimize and automate the transferred functions with the goal of providing improved service levels and significant cost savings. The shared services arrangement with HCL includes a total aggregate spending commitment by us of approximately $1.3 billion over the next 7 years. However, we can terminate the arrangement at any time at our discretion, subject to payment of termination fees that decline over the term or for cause. The spending commitment excludes restructuring and related costs we are expected to incur in connection with the transition of the contemplated functions - refer to Note 12 - Restructuring Programs for additional information. The transfer of employees associated with the HCL arrangement in certain countries is subject to compliance with works council and other employment regulatory requirements in those countries, which may delay the transfer as well as the expected savings from the arrangement. During the second quarter 2019, we incurred net charges of approximately $30 associated with this arrangement, which only reflects the cost associated with the employees transferred to date. The cost has been allocated to the various functional expense lines in the Condensed Consolidated Income Statement based on an assessment of the nature and amount of the costs incurred for the various transferred functions prior to their transfer to HCL. Change in Presentation During first quarter 2019, we realigned portions of our business to support our new revenue strategy. This realignment included the combination and consolidation of certain sales units to better service customers consistently across the company. In connection with that realignment, we changed the classification of revenues and related costs from certain service arrangements to consistently conform the presentation of those amounts among our various business units. Prior year amounts were also revised as follows to conform to the 2019 presentation. Three Months Ended June 30, 2018 As Reported Change As Revised Sales $ 1,017 $ (90 ) $ 927 Services, maintenance and rentals 1,425 90 1,515 Cost of sales $ 622 $ (29 ) $ 593 Cost of services, maintenance and rentals 854 29 883 Six Months Ended June 30, 2018 As Reported Change As Revised Sales $ 1,950 $ (178 ) $ 1,772 Services, maintenance and rentals 2,856 178 3,034 Cost of sales $ 1,185 $ (60 ) $ 1,125 Cost of services, maintenance and rentals 1,722 60 1,782

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standard Updates to be Adopted: Financial Instruments - Credit Losses In June 2016, the FASB issued ASU 2016-13 , Financial Instruments Credit Losses - Measurement of Credit Losses on Financial Instruments, with additional updates being issued in 2018 and 2019. This update 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. We are currently evaluating the impact of the adoption of ASU 2016-13 on our Condensed Consolidated Financial Statements. Intangibles - Internal-Use Software In August 2018, the FASB issued ASU 2018-15 , Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. This update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The update provides criteria for determining which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The capitalized implementation costs are required to be expensed over the term of the hosting arrangement. The update also clarifies the presentation requirements for reporting such costs in the entity’s financial statements. This update is effective for our fiscal year beginning January 1, 2020. We are currently evaluating the impact of the adoption of ASU 2018-15 on our Condensed Consolidated Financial Statements. Accounting Standard Updates Adopted in 2019: Leases On January 1, 2019, we adopted ASU 2016-02 , Leases (ASC Topic 842). This update, as well as additional amendments and targeted improvements issued in 2018 and early 2019, supersedes existing lease accounting guidance found under ASC 840, Leases (“ASC 840”) and requires the recognition of right-to-use assets and lease obligations by lessees for those leases originally classified as operating leases under prior lease guidance. Effective with the adoption, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. Short term leases with a term of 12 months or less are not required to be recognized. The update also requires qualitative and quantitative disclosure of key information regarding the amount, timing and uncertainty of cash flows arising from leasing arrangements to increase transparency and comparability among companies. The accounting for lessors does not fundamentally change with this update except for changes to conform and align guidance to the lessee guidance, as well as to the revenue recognition guidance in ASU 2014-09. Some of these conforming changes, such as those related to the definition of lease term and minimum lease payments, resulted in certain lease arrangements, that would have been previously accounted for as operating leases, to be classified and accounted for as sales-type leases with a corresponding up-front recognition of equipment sales revenue. Upon adoption we applied the transition option, whereby prior comparative periods are not retrospectively presented in the Condensed Consolidated Financial Statements. We also elected the package of practical expedients not to reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs and the lessee practical expedient to combine lease and non-lease components for certain asset classes (real estate lease arrangements for offices and warehouses). Additionally, we made a policy election to not recognize right-of-use assets and lease liabilities for short-term leases for all asset classes. We elected the package of practical expedients from both the Lessee and Lessor prospective, to the extent applicable. Lessee accounting - the adoption of this update resulted in an increase to assets and related liabilities of approximately $385 (approximately $440 undiscounted) primarily related to leases of facilities. Lessor accounting - the adoption of this update resulted in an increase to equipment sales of approximately $11 in 2019 as compared to 2018. Refer to Note 3 - Adoption of New Leasing Standard - Xerox as a Lessee and Note 4 - Adoption of New Leasing Standard - Xerox as a Lessor for additional transitional disclosures related to the adoption of this standard. Financial Instruments - Derivatives In August 2017, the FASB issued ASU 2017-12 , Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The amendments in this update expand and refine hedge accounting for both financial and non-financial risk components, align the recognition and presentation of the effects of hedging instruments with the same income statement line item that the hedged item is reported and include certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. We adopted ASU 2017-12 effective for our fiscal year beginning January 1, 2019, and it did not have a material impact on our financial condition, results of operations or cash flows. Income Taxes In February 2018, the FASB issued ASU 2018-02 , Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . We adopted ASU 2018-02 effective for our fiscal year beginning January 1, 2019 and upon adoption reclassified $127 from Accumulated other comprehensive loss (AOCL) to Retained earnings related to the stranded tax effects resulting from the Tax Cuts and Jobs Act ("Tax Act") enacted in December 2017. The reclassification was primarily related to the stranded tax effects associated with amounts in AOCL from our retirement-related benefit plans. Accordingly, the adoption of this update eliminated the stranded tax effects resulting from the Tax Act. However, because the update only relates to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in Income from continuing operations is not affected. Other Updates In 2018 , the FASB also issued the following Accounting Standards Updates, which did not have or are not expected to have a material impact on our financial condition, results of operations or cash flows upon adoption. Those updates are as follows: • Collaborative Arrangements: ASU 2018-18 , (Topic 808) Clarifying the Interaction between Topic 808 and Topic 606. This update is effective for our fiscal year beginning January 1, 2020. • Compensation - Retirement Benefits - Defined Benefit Plans - General: ASU 2018-14 , (Topic 715-20) Changes to the Disclosure Requirements for Defined Benefit Plans. This update is effective for our fiscal year beginning January 1, 2020. • Fair Value Measurement: ASU 2018-13 , (Topic 820) Disclosure Framework. This update is effective for our fiscal year beginning January 1, 2020. • Investments - Debt Securities and Regulated Operations: ASU 2018-04

Adoption of New Leasing Standar

Adoption of New Leasing Standard - Xerox as a Lessee	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Adoption of New Leasing Standard - Xerox as a Lessee	Adoption of New Leasing Standard - Xerox as a Lessee Refer to Note 2 - Recent Accounting Pronouncements - Leases, for additional information related to the adoption of ASU 2016-02 , Leases (ASC Topic 842). Lessee Summary: We determine at inception whether an arrangement is a lease. Our leases do not include assets of a specialized nature, or the transfer of ownership at the end of the lease, and the exercise of end-of-lease purchase options, which are primarily in our equipment leases, is not reasonably assured at lease inception. Accordingly, the two primary criteria we use to classify transactions as operating or finance leases are: (i) a review of the lease term to determine if it is equal to or greater than 75% of the economic life of the asset, and (ii) a review of the present value of the minimum lease payments to determine if they are equal to or greater than 90% of the fair market value of the asset at the inception of the lease. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. We also assess arrangements for goods or services to determine if the arrangement contains a lease at its inception. This assessment first considers whether there is an implicitly or explicitly identified asset in the arrangement and then whether there is a right to control the use of the asset. If there is an embedded lease within a contract, the company determines the classification of the lease at the lease inception date consistent with standalone leases of assets. Operating leases are included in Other long-term assets, Accrued expenses and other current liabilities, and Other long-term liabilities in our Condensed Consolidated Balance Sheets. Finance leases are included in Land, buildings and equipment, net, Accrued expenses and other current liabilities, and Other long-term liabilities in our Condensed Consolidated Balance Sheets. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since the implicit rate for most of our leases is not readily determinable, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that we would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. The rate is dependent on several factors, including the lease term and currency of the lease payments. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as we do not have reasonable certainty at lease inception that these options will be exercised. We generally consider the economic life of our operating lease ROU assets to be comparable to the useful life of similar owned assets. We have elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Our leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components. These components are accounted for separately for vehicle and equipment leases. We account for the lease and non-lease components as a single lease component for real estate leases of offices and warehouses. We review the impairment of our ROU assets consistent with the approach applied for our other long-lived assets. We review the recoverability of our long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. We have elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows. Operating Leases We have operating leases for real estate and vehicles in our domestic and international operations and for certain equipment in our domestic operations. Additionally, we have identified embedded operating leases within certain supply chain contracts for warehouses, primarily within our domestic operations. Our leases have remaining terms of up to ten years and a variety of renewal and/or termination options. The components of lease expense are as follows: Three Months Ended Six Months Ended June 30, 2019 Operating lease expense $ 33 $ 66 Short-term lease expense 5 10 Variable lease expense (1) 12 25 Sublease income (1 ) (1 ) Total Lease expense $ 49 $ 100 _____________ (1) Variable lease expense is related to our leased real estate for offices and warehouses and primarily includes labor and operational costs as well as taxes and insurance. Operating leases ROU assets, net and operating lease liabilities were reported in the Condensed Consolidated Balance Sheets as follows: June 30, Other long-term assets $ 319 Accrued expenses and other current liabilities $ 92 Other long-term liabilities 254 Total Operating lease liabilities $ 346 Supplemental information related to operating leases is as follows: Three Months Ended Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows $ 32 $ 64 Right-of-use assets obtained in exchange for new lease liabilities (1) $ 14 $ 23 Weighted-average remaining lease term 4 years Weighted-average discount rate 5.63 % _____________ (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases. Maturities and additional information related to operating lease liabilities are as follows: June 30, 2019 (1) $ 61 2020 103 2021 80 2022 66 2023 49 Thereafter 36 Total Lease payments 395 Less: Imputed interest 49 Total Operating lease liabilities $ 346 _____________ (1) Represents the future minimum operating lease payments expected to be made over the remaining balance of the year. Finance Leases Xerox has one finance lease for equipment and related infrastructure within an outsourced warehouse supply arrangement in the U.S. The lease expires in December 2023 and has a remaining lease obligation of $7 as of June 30, 2019 based on a discount rate of 4.07% . The Right-of-use asset balance associated with this finance lease of $8 is included in Land, buildings and equipment, net in the Condensed Consolidated Balance Sheet. Prior Period Disclosures under ASC 840 For the years ended December 31, 2018 and 2017, operating lease expense, net of sublease income, were $147 and $161 , respectively. Future minimum operating lease commitments that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 were as follows: December 31, 2019 $ 114 2020 88 2021 64 2022 50 2023 36 Thereafter 27 Total Operating lease commitments $ 379
Adoption of New Leasing Standard - Xerox as a Lessee	Adoption of New Leasing Standard - Xerox as a Lessee Refer to Note 2 - Recent Accounting Pronouncements - Leases, for additional information related to the adoption of ASU 2016-02 , Leases (ASC Topic 842). Lessee Summary: We determine at inception whether an arrangement is a lease. Our leases do not include assets of a specialized nature, or the transfer of ownership at the end of the lease, and the exercise of end-of-lease purchase options, which are primarily in our equipment leases, is not reasonably assured at lease inception. Accordingly, the two primary criteria we use to classify transactions as operating or finance leases are: (i) a review of the lease term to determine if it is equal to or greater than 75% of the economic life of the asset, and (ii) a review of the present value of the minimum lease payments to determine if they are equal to or greater than 90% of the fair market value of the asset at the inception of the lease. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. We also assess arrangements for goods or services to determine if the arrangement contains a lease at its inception. This assessment first considers whether there is an implicitly or explicitly identified asset in the arrangement and then whether there is a right to control the use of the asset. If there is an embedded lease within a contract, the company determines the classification of the lease at the lease inception date consistent with standalone leases of assets. Operating leases are included in Other long-term assets, Accrued expenses and other current liabilities, and Other long-term liabilities in our Condensed Consolidated Balance Sheets. Finance leases are included in Land, buildings and equipment, net, Accrued expenses and other current liabilities, and Other long-term liabilities in our Condensed Consolidated Balance Sheets. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since the implicit rate for most of our leases is not readily determinable, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that we would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. The rate is dependent on several factors, including the lease term and currency of the lease payments. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as we do not have reasonable certainty at lease inception that these options will be exercised. We generally consider the economic life of our operating lease ROU assets to be comparable to the useful life of similar owned assets. We have elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Our leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components. These components are accounted for separately for vehicle and equipment leases. We account for the lease and non-lease components as a single lease component for real estate leases of offices and warehouses. We review the impairment of our ROU assets consistent with the approach applied for our other long-lived assets. We review the recoverability of our long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. We have elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows. Operating Leases We have operating leases for real estate and vehicles in our domestic and international operations and for certain equipment in our domestic operations. Additionally, we have identified embedded operating leases within certain supply chain contracts for warehouses, primarily within our domestic operations. Our leases have remaining terms of up to ten years and a variety of renewal and/or termination options. The components of lease expense are as follows: Three Months Ended Six Months Ended June 30, 2019 Operating lease expense $ 33 $ 66 Short-term lease expense 5 10 Variable lease expense (1) 12 25 Sublease income (1 ) (1 ) Total Lease expense $ 49 $ 100 _____________ (1) Variable lease expense is related to our leased real estate for offices and warehouses and primarily includes labor and operational costs as well as taxes and insurance. Operating leases ROU assets, net and operating lease liabilities were reported in the Condensed Consolidated Balance Sheets as follows: June 30, Other long-term assets $ 319 Accrued expenses and other current liabilities $ 92 Other long-term liabilities 254 Total Operating lease liabilities $ 346 Supplemental information related to operating leases is as follows: Three Months Ended Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows $ 32 $ 64 Right-of-use assets obtained in exchange for new lease liabilities (1) $ 14 $ 23 Weighted-average remaining lease term 4 years Weighted-average discount rate 5.63 % _____________ (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases. Maturities and additional information related to operating lease liabilities are as follows: June 30, 2019 (1) $ 61 2020 103 2021 80 2022 66 2023 49 Thereafter 36 Total Lease payments 395 Less: Imputed interest 49 Total Operating lease liabilities $ 346 _____________ (1) Represents the future minimum operating lease payments expected to be made over the remaining balance of the year. Finance Leases Xerox has one finance lease for equipment and related infrastructure within an outsourced warehouse supply arrangement in the U.S. The lease expires in December 2023 and has a remaining lease obligation of $7 as of June 30, 2019 based on a discount rate of 4.07% . The Right-of-use asset balance associated with this finance lease of $8 is included in Land, buildings and equipment, net in the Condensed Consolidated Balance Sheet. Prior Period Disclosures under ASC 840 For the years ended December 31, 2018 and 2017, operating lease expense, net of sublease income, were $147 and $161 , respectively. Future minimum operating lease commitments that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 were as follows: December 31, 2019 $ 114 2020 88 2021 64 2022 50 2023 36 Thereafter 27 Total Operating lease commitments $ 379

Adoption of New Leasing Stand_2

Adoption of New Leasing Standard - Xerox as a Lessor	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Adoption of New Leasing Standard - Xerox as a Lessor	Adoption of New Leasing Standard - Xerox as a Lessor Refer to Note 2 - Recent Accounting Pronouncements - Leases, for additional information related to the adoption of ASU 2016-02 , Leases (ASC Topic 842). Lessor Summary: The following represent updated disclosures to our Revenue Recognition policies as a result of the adoption of ASC Topic 842. Bundled Lease Arrangements: A portion of our direct sales of equipment to end customers are made through bundled lease arrangements which typically include equipment, services (maintenance and managed services) and financing components where the customer pays a single negotiated fixed minimum monthly payment for all elements over the contractual lease term. These arrangements also typically include an incremental, variable component for page volumes in excess of the contractual page volume minimums, which are often expressed in terms of price-per-image or page. Revenues under these bundled lease arrangements are allocated considering the relative standalone selling prices of the lease and non-lease deliverables included in the bundled arrangement. Lease deliverables include the equipment and financing, while the non-lease deliverables generally consist of the services, which include supplies. Consistent with the guidance in ASC 842 and ASC 606, regarding the allocation of fixed and variable consideration, we only consider the fixed payments for purposes of allocation to the lease elements of the contract. The fixed minimum monthly payments are multiplied by the number of months in the contract term to arrive at the total fixed lease payments that the customer is obligated to make over the lease term. Amounts allocated to the equipment and financing elements are then subjected to the accounting estimates noted below under Leases to ensure the values reflect standalone selling prices. The remainder of any fixed payments, as well as the variable payments, are allocated to non-lease elements because the variable consideration for incremental page volume or usage is considered attributable to the delivery of those elements. The consideration for the non-lease elements is not dependent on the consideration for equipment and vice versa and the consideration for the equipment and services is priced at the appropriate standalone values; therefore, the relative standalone selling price allocation method is not necessary. The revenue associated with the non-lease elements are normally accounted for as a single performance obligation being delivered in a series with delivery being measured as the usage billed to the customer. Accordingly, revenue from these agreements is recognized in a manner consistent with the guidance for Maintenance and Services agreements. Leases: The two primary accounting provisions we use to classify transactions as sales-type or operating leases are: (i) a review of the lease term to determine if it is for the major part of the economic life of the underlying equipment (defined as greater than 75% ); and (ii) a review of the present value of the lease payments to determine if they are equal to or greater than substantially all of the fair market value of the equipment at the inception of the lease (defined as greater than 90% ). Equipment placements included in arrangements meeting these conditions are accounted for as sales-type leases and revenue is recognized in a manner consistent with Equipment. Equipment placements included in arrangements that do not meet these conditions are accounted for as operating leases and revenue is recognized over the term of the lease. We consider the economic life of most of our products to be five years , since this represents the most frequent contractual lease term for our principal products and only a small percentage of our leases are for original terms longer than five years . There is no significant after-market for our used equipment. We believe five years is representative of the period during which the equipment is expected to be economically usable, with normal service, for the purpose for which it is intended. We perform an analysis of the stand-alone selling price of equipment based on cash selling prices during the applicable period. The cash selling prices are compared to the range of values determined for our leases. The range of cash selling prices must be reasonably consistent with the lease selling prices in order for us to determine that such lease prices reflects stand-alone value. Our lease pricing interest rates, which are used in determining customer payments in a bundled lease arrangement, are developed based upon a variety of factors including local prevailing rates in the marketplace and the customer’s credit history, industry and credit class. We reassess our pricing interest rates quarterly based on changes in the local prevailing rates in the marketplace. The pricing interest rates generally equal the implicit rates within the leases, as corroborated by our comparisons of cash to lease selling prices noted above. Additional Lease Payments: Certain leases may require the customer to pay property taxes and insurance on the equipment. In these instances, the amounts for property taxes and insurance that we invoice to customers and pay to third parties are considered variable payments and are recorded as other revenues and other cost of revenues, respectively. Amounts related to property taxes and insurance are not material. We exclude from variable payments all lessor costs that are explicitly required to be paid directly by a lessee on behalf of the lessor to a third party. Presentation: Revenue from sales-type leases is presented on a gross basis when the company enters into a lease to realize value from a product that it would otherwise sell in its ordinary course of business, whereas in transactions where the company enters into a lease for the purpose of generating revenue by providing financing, the profit or loss, if any, is presented on a net basis. In addition, we have elected to account for sales tax and other similar taxes collected from a lessee as lessee costs and therefore we exclude these costs from contract consideration and variable consideration and present revenue net of these costs. The components of lease income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lease income - sales type $ 150 $ 172 $ 284 $ 332 Interest income on lease receivables 61 68 124 139 Lease income - operating leases (1) 100 109 204 222 Variable lease income 28 31 55 61 Total Lease income $ 339 $ 380 $ 667 $ 754 _____________ (1) Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28 , respectively, which were reported in operating lease income for the three months ended March 31, 2019 and 2018. Profit at lease commencement on sales type leases was estimated to be approximately $55 and $70 for the three months ended June 30, 2019 and 2018 , respectively, and approximately $120 and $145 for the six months ended June 30, 2019 and 2018 , respectively.
Adoption of New Leasing Standard - Xerox as a Lessor	Adoption of New Leasing Standard - Xerox as a Lessor Refer to Note 2 - Recent Accounting Pronouncements - Leases, for additional information related to the adoption of ASU 2016-02 , Leases (ASC Topic 842). Lessor Summary: The following represent updated disclosures to our Revenue Recognition policies as a result of the adoption of ASC Topic 842. Bundled Lease Arrangements: A portion of our direct sales of equipment to end customers are made through bundled lease arrangements which typically include equipment, services (maintenance and managed services) and financing components where the customer pays a single negotiated fixed minimum monthly payment for all elements over the contractual lease term. These arrangements also typically include an incremental, variable component for page volumes in excess of the contractual page volume minimums, which are often expressed in terms of price-per-image or page. Revenues under these bundled lease arrangements are allocated considering the relative standalone selling prices of the lease and non-lease deliverables included in the bundled arrangement. Lease deliverables include the equipment and financing, while the non-lease deliverables generally consist of the services, which include supplies. Consistent with the guidance in ASC 842 and ASC 606, regarding the allocation of fixed and variable consideration, we only consider the fixed payments for purposes of allocation to the lease elements of the contract. The fixed minimum monthly payments are multiplied by the number of months in the contract term to arrive at the total fixed lease payments that the customer is obligated to make over the lease term. Amounts allocated to the equipment and financing elements are then subjected to the accounting estimates noted below under Leases to ensure the values reflect standalone selling prices. The remainder of any fixed payments, as well as the variable payments, are allocated to non-lease elements because the variable consideration for incremental page volume or usage is considered attributable to the delivery of those elements. The consideration for the non-lease elements is not dependent on the consideration for equipment and vice versa and the consideration for the equipment and services is priced at the appropriate standalone values; therefore, the relative standalone selling price allocation method is not necessary. The revenue associated with the non-lease elements are normally accounted for as a single performance obligation being delivered in a series with delivery being measured as the usage billed to the customer. Accordingly, revenue from these agreements is recognized in a manner consistent with the guidance for Maintenance and Services agreements. Leases: The two primary accounting provisions we use to classify transactions as sales-type or operating leases are: (i) a review of the lease term to determine if it is for the major part of the economic life of the underlying equipment (defined as greater than 75% ); and (ii) a review of the present value of the lease payments to determine if they are equal to or greater than substantially all of the fair market value of the equipment at the inception of the lease (defined as greater than 90% ). Equipment placements included in arrangements meeting these conditions are accounted for as sales-type leases and revenue is recognized in a manner consistent with Equipment. Equipment placements included in arrangements that do not meet these conditions are accounted for as operating leases and revenue is recognized over the term of the lease. We consider the economic life of most of our products to be five years , since this represents the most frequent contractual lease term for our principal products and only a small percentage of our leases are for original terms longer than five years . There is no significant after-market for our used equipment. We believe five years is representative of the period during which the equipment is expected to be economically usable, with normal service, for the purpose for which it is intended. We perform an analysis of the stand-alone selling price of equipment based on cash selling prices during the applicable period. The cash selling prices are compared to the range of values determined for our leases. The range of cash selling prices must be reasonably consistent with the lease selling prices in order for us to determine that such lease prices reflects stand-alone value. Our lease pricing interest rates, which are used in determining customer payments in a bundled lease arrangement, are developed based upon a variety of factors including local prevailing rates in the marketplace and the customer’s credit history, industry and credit class. We reassess our pricing interest rates quarterly based on changes in the local prevailing rates in the marketplace. The pricing interest rates generally equal the implicit rates within the leases, as corroborated by our comparisons of cash to lease selling prices noted above. Additional Lease Payments: Certain leases may require the customer to pay property taxes and insurance on the equipment. In these instances, the amounts for property taxes and insurance that we invoice to customers and pay to third parties are considered variable payments and are recorded as other revenues and other cost of revenues, respectively. Amounts related to property taxes and insurance are not material. We exclude from variable payments all lessor costs that are explicitly required to be paid directly by a lessee on behalf of the lessor to a third party. Presentation: Revenue from sales-type leases is presented on a gross basis when the company enters into a lease to realize value from a product that it would otherwise sell in its ordinary course of business, whereas in transactions where the company enters into a lease for the purpose of generating revenue by providing financing, the profit or loss, if any, is presented on a net basis. In addition, we have elected to account for sales tax and other similar taxes collected from a lessee as lessee costs and therefore we exclude these costs from contract consideration and variable consideration and present revenue net of these costs. The components of lease income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lease income - sales type $ 150 $ 172 $ 284 $ 332 Interest income on lease receivables 61 68 124 139 Lease income - operating leases (1) 100 109 204 222 Variable lease income 28 31 55 61 Total Lease income $ 339 $ 380 $ 667 $ 754 _____________ (1) Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28 , respectively, which were reported in operating lease income for the three months ended March 31, 2019 and 2018. Profit at lease commencement on sales type leases was estimated to be approximately $55 and $70 for the three months ended June 30, 2019 and 2018 , respectively, and approximately $120 and $145 for the six months ended June 30, 2019 and 2018 , respectively.
Adoption of New Leasing Standard - Xerox as a Lessor	Adoption of New Leasing Standard - Xerox as a Lessor Refer to Note 2 - Recent Accounting Pronouncements - Leases, for additional information related to the adoption of ASU 2016-02 , Leases (ASC Topic 842). Lessor Summary: The following represent updated disclosures to our Revenue Recognition policies as a result of the adoption of ASC Topic 842. Bundled Lease Arrangements: A portion of our direct sales of equipment to end customers are made through bundled lease arrangements which typically include equipment, services (maintenance and managed services) and financing components where the customer pays a single negotiated fixed minimum monthly payment for all elements over the contractual lease term. These arrangements also typically include an incremental, variable component for page volumes in excess of the contractual page volume minimums, which are often expressed in terms of price-per-image or page. Revenues under these bundled lease arrangements are allocated considering the relative standalone selling prices of the lease and non-lease deliverables included in the bundled arrangement. Lease deliverables include the equipment and financing, while the non-lease deliverables generally consist of the services, which include supplies. Consistent with the guidance in ASC 842 and ASC 606, regarding the allocation of fixed and variable consideration, we only consider the fixed payments for purposes of allocation to the lease elements of the contract. The fixed minimum monthly payments are multiplied by the number of months in the contract term to arrive at the total fixed lease payments that the customer is obligated to make over the lease term. Amounts allocated to the equipment and financing elements are then subjected to the accounting estimates noted below under Leases to ensure the values reflect standalone selling prices. The remainder of any fixed payments, as well as the variable payments, are allocated to non-lease elements because the variable consideration for incremental page volume or usage is considered attributable to the delivery of those elements. The consideration for the non-lease elements is not dependent on the consideration for equipment and vice versa and the consideration for the equipment and services is priced at the appropriate standalone values; therefore, the relative standalone selling price allocation method is not necessary. The revenue associated with the non-lease elements are normally accounted for as a single performance obligation being delivered in a series with delivery being measured as the usage billed to the customer. Accordingly, revenue from these agreements is recognized in a manner consistent with the guidance for Maintenance and Services agreements. Leases: The two primary accounting provisions we use to classify transactions as sales-type or operating leases are: (i) a review of the lease term to determine if it is for the major part of the economic life of the underlying equipment (defined as greater than 75% ); and (ii) a review of the present value of the lease payments to determine if they are equal to or greater than substantially all of the fair market value of the equipment at the inception of the lease (defined as greater than 90% ). Equipment placements included in arrangements meeting these conditions are accounted for as sales-type leases and revenue is recognized in a manner consistent with Equipment. Equipment placements included in arrangements that do not meet these conditions are accounted for as operating leases and revenue is recognized over the term of the lease. We consider the economic life of most of our products to be five years , since this represents the most frequent contractual lease term for our principal products and only a small percentage of our leases are for original terms longer than five years . There is no significant after-market for our used equipment. We believe five years is representative of the period during which the equipment is expected to be economically usable, with normal service, for the purpose for which it is intended. We perform an analysis of the stand-alone selling price of equipment based on cash selling prices during the applicable period. The cash selling prices are compared to the range of values determined for our leases. The range of cash selling prices must be reasonably consistent with the lease selling prices in order for us to determine that such lease prices reflects stand-alone value. Our lease pricing interest rates, which are used in determining customer payments in a bundled lease arrangement, are developed based upon a variety of factors including local prevailing rates in the marketplace and the customer’s credit history, industry and credit class. We reassess our pricing interest rates quarterly based on changes in the local prevailing rates in the marketplace. The pricing interest rates generally equal the implicit rates within the leases, as corroborated by our comparisons of cash to lease selling prices noted above. Additional Lease Payments: Certain leases may require the customer to pay property taxes and insurance on the equipment. In these instances, the amounts for property taxes and insurance that we invoice to customers and pay to third parties are considered variable payments and are recorded as other revenues and other cost of revenues, respectively. Amounts related to property taxes and insurance are not material. We exclude from variable payments all lessor costs that are explicitly required to be paid directly by a lessee on behalf of the lessor to a third party. Presentation: Revenue from sales-type leases is presented on a gross basis when the company enters into a lease to realize value from a product that it would otherwise sell in its ordinary course of business, whereas in transactions where the company enters into a lease for the purpose of generating revenue by providing financing, the profit or loss, if any, is presented on a net basis. In addition, we have elected to account for sales tax and other similar taxes collected from a lessee as lessee costs and therefore we exclude these costs from contract consideration and variable consideration and present revenue net of these costs. The components of lease income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lease income - sales type $ 150 $ 172 $ 284 $ 332 Interest income on lease receivables 61 68 124 139 Lease income - operating leases (1) 100 109 204 222 Variable lease income 28 31 55 61 Total Lease income $ 339 $ 380 $ 667 $ 754 _____________ (1) Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28 , respectively, which were reported in operating lease income for the three months ended March 31, 2019 and 2018. Profit at lease commencement on sales type leases was estimated to be approximately $55 and $70 for the three months ended June 30, 2019 and 2018 , respectively, and approximately $120 and $145 for the six months ended June 30, 2019 and 2018 , respectively.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenues disaggregated by primary geographic markets, major product lines, and sales channels are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Primary geographical markets (1) : United States $ 1,370 $ 1,479 $ 2,664 $ 2,893 Europe 584 660 1,184 1,336 Canada 130 147 254 291 Other 205 224 393 425 Total Revenues $ 2,289 $ 2,510 $ 4,495 $ 4,945 Major product and services lines: Equipment $ 504 $ 561 $ 952 $ 1,060 Supplies, paper and other sales 321 366 623 712 Maintenance agreements (2) 609 671 1,207 1,340 Service arrangements (3) 637 676 1,272 1,358 Rental and other 157 168 317 336 Financing 61 68 124 139 Total Revenues (4) $ 2,289 $ 2,510 $ 4,495 $ 4,945 Sales channels: Direct equipment lease (5) $ 150 $ 172 $ 284 $ 332 Distributors & resellers (6) 333 357 648 701 Customer direct 342 398 643 739 Total Sales (4) $ 825 $ 927 $ 1,575 $ 1,772 _____________ (1) Geographic area data is based upon the location of the subsidiary reporting the revenue. (2) Includes revenues from maintenance agreements on sold equipment as well as revenues associated with service agreements sold through our channel partners as Xerox Partner Print Services (XPPS). (3) Primarily includes revenues from our Managed Services offerings (formerly our Managed Document Services arrangements). Also includes revenues from embedded operating leases, which were not significant. (4) Certain prior year amounts have been revised to conform to the current year presentation. Refer to Note 1 - Basis of Presentation - Change in Presentation, for additional information. (5) Primarily reflects direct sales through bundled lease arrangements. (6) Primarily reflects sales through our two-tier distribution channels. Contract Assets and Liabilities: We normally do not have contract assets, which are primarily unbilled accounts receivable that are conditional on something other than the passage of time. Our contract liabilities, which represent billings in excess of revenue recognized, are primarily related to advanced billings for maintenance and other services to be performed and were approximately $134 and $116 at June 30, 2019 and December 31, 2018 , respectively. The majority of the balance at June 30, 2019 will be amortized to revenue over approximately the next 30 months . Contract Costs: Incremental direct costs of obtaining a contract primarily include sales commissions paid to sales people and agents in connection with the placement of equipment with associated post sale services arrangements. These costs are deferred and amortized on the straight-line basis over the estimated contract term , which is currently estimated to be approximately four years . We pay commensurate sales commissions upon customer renewals, therefore our amortization period is aligned to our initial contract term. Incremental direct costs are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Incremental direct costs of obtaining a contract $ 18 $ 23 $ 36 $ 40 Amortization of incremental direct costs 20 23 43 47 The balance of deferred incremental direct costs net of accumulated amortization at June 30, 2019 and December 31, 2018 was $165 and $172 , respectively. This amount is expected to be amortized over its estimated period of benefit, which we currently estimate to be approximately four years . We may also incur costs associated with our services arrangements to generate or enhance resources and assets that will be used to satisfy our future performance obligations included in these arrangements. These costs are considered contract fulfillment costs and are amortized over the contractual service period of the arrangement to cost of services. In addition, we also provide inducements to certain customers in various forms, including contractual credits, which are capitalized and amortized as a reduction of revenue over the term of the contract. As of June 30, 2019 and December 31, 2018 amounts deferred associated with contract fulfillment costs and inducements were $12 and $12 , respectively. The related amortization for the three months ended June 30, 2019 and 2018 was $2 and $2 , respective and $3 and $3 for the six months ended June 30, 2019 and 2018 , respectively.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions Xerox is focused on increasing its Small and Mid-sized (SMB) coverage through resellers and partners (including multi-brand dealers) and continued distribution acquisitions. During the second quarter of 2019, acquisitions totaled $38 and included Rabbit Copiers, Inc. (Rabbit Office Automation (ROA)), a San Francisco Bay area dealer, and Heritage Business Systems, Inc. (HBS), a Delaware Valley dealer. Both dealers expand our distribution and increase the number of resources in these geographies and provide office technology sales, services and supplies in those markets. The operating results of these acquisitions are not material to our financial statements and are included within our results from the acquisition date. The purchase prices were all cash for 100%

Supplementary Financial Informa

Supplementary Financial Information	6 Months Ended
	Jun. 30, 2019
Supplemental Financial Information [Abstract]
Supplementary Financial Information	Supplementary Financial Information Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash amounts were as follows: June 30, December 31, Cash and cash equivalents $ 712 $ 1,084 Restricted cash Litigation deposits in Brazil 64 61 Other restricted cash — 3 Total Restricted cash 64 64 Cash, cash equivalents and restricted cash $ 776 $ 1,148 Restricted cash primarily relates to escrow cash deposits made in Brazil associated with ongoing litigation. As more fully discussed in Note 21 - Contingencies and Litigation, various litigation matters in Brazil require us to make cash deposits to escrow as a condition of continuing the litigation. Restricted cash amounts are classified in our Condensed Consolidated Balance Sheets based on when the cash is expected to be contractually or judicially released. Restricted cash was reported in the Condensed Consolidated Balance Sheets as follows: June 30, December 31, Other current assets $ — $ 1 Other long-term assets 64 63 Total Restricted cash $ 64 $ 64 Supplemental Cash Flow Information Summarized cash flow information is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Provision for receivables $ 13 $ 13 $ 27 $ 26 Provision for inventory 7 10 15 14 Provision for product warranty 3 3 7 7 Depreciation of buildings and equipment 26 44 53 88 Depreciation and obsolescence of equipment on operating leases 57 63 116 127 Amortization of internal use software 16 19 33 37 Amortization of acquired intangible assets 11 12 26 24 Amortization of customer contract costs (1) 22 25 46 50 Cost of additions to land, buildings and equipment 10 17 19 26 Cost of additions to internal use software 6 15 12 24 Common stock dividends 57 64 115 128 Preferred stock dividends 3 4 7 7 Payments to noncontrolling interests 12 1 13 13 Repurchases related to stock-based compensation 9 1 10 2 _____________ (1) Amortization of customer contract costs are reported in Decrease in other current and long-term assets in the Condensed Consolidated Statements of Cash Flows. Refer to Note 5 - Revenue for additional information on contract costs.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net were as follows: June 30, December 31, Invoiced $ 992 $ 999 Accrued 320 333 Allowance for doubtful accounts (56 ) (56 ) Accounts receivable, net $ 1,256 $ 1,276 Amounts to be invoiced in the subsequent quarter for current services provided are included in amounts accrued. 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. The accounts receivable sold are generally short-term trade receivables with payment due dates of less than 60 days. We have one facility in Europe that enables us to sell accounts receivable associated with our distributor network on an ongoing basis, without recourse. Under this arrangement, we sell our entire interest in the related accounts receivable for cash and no portion of the payment is held back or deferred by the purchaser. Of the accounts receivable sold and derecognized from our balance sheet, $131 and $131 remained uncollected as of June 30, 2019 and December 31, 2018 , respectively. Accounts receivable sales were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Accounts receivable sales (1) $ 110 $ 128 $ 198 $ 231 Loss on sales of accounts receivable — — 1 1 __________________________ (1) Customers may also enter into structured-payable arrangements that require us to sell our receivables from that customer to a third-party financial institution, which then makes payments to us to settle the customer's receivable. In these instances, we ensure the sale of the receivables are bankruptcy-remote and the payment made to us is without recourse. The activity associated with these arrangements is not reflected in this disclosure, as payments under these arrangements have not been material and these are customer directed arrangements. Finance receivables include sales-type leases and installment loans arising from the marketing of our equipment. These receivables are typically collateralized by a security interest in the underlying assets. Amounts disclosed below at December 31, 2018 were accounted for under ASC 840, Leases, which was superseded by ASC 842, Leases, adopted on January 1, 2019. Differences upon adoption were not material. Refer to Note 2 - Recent Accounting Pronouncements for additional information. Finance receivables, net were as follows: June 30, December 31, Gross receivables $ 3,860 $ 4,003 Unearned income (418 ) (439 ) Subtotal 3,442 3,564 Residual values — — Allowance for doubtful accounts (93 ) (92 ) Finance receivables, net 3,349 3,472 Less: Billed portion of finance receivables, net 108 105 Less: Current portion of finance receivables not billed, net 1,177 1,218 Finance receivables due after one year, net $ 2,064 $ 2,149 A summary of future contractual maturities of our gross finance receivables, including those previously billed is as follows: June 30, December 31, 12 Months (1) $ 1,514 $ 1,543 24 Months 1,057 1,108 36 Months 715 755 48 Months 405 425 60 Months 151 158 Thereafter 18 14 Total $ 3,860 $ 4,003 __________________ (1) Includes amounts previously billed of $112 and $107 as of June 30, 2019 and December 31, 2018 , respectively. Finance Receivables – Allowance for Credit Losses and Credit Quality Finance receivables include sales-type leases, direct financing leases and installment loans arising from the marketing of our equipment. 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 allowance for doubtful finance receivables as well as the related investment in finance receivables were as follows: Allowance for Credit Losses: United States Canada Europe Other (1) Total Balance at December 31, 2018 $ 53 $ 12 $ 25 $ 2 $ 92 Provision 4 1 4 — 9 Charge-offs (4 ) (1 ) (3 ) — (8 ) Recoveries and other (2) — — — — — Balance at March 31, 2019 $ 53 $ 12 $ 26 $ 2 $ 93 Provision 4 1 3 — 8 Charge-offs (5 ) (3 ) (3 ) — (11 ) Recoveries and other (2) 1 2 — — 3 Balance at June 30, 2019 $ 53 $ 12 $ 26 $ 2 $ 93 Finance receivables as of June 30, 2019 collectively evaluated for impairment (3) $ 1,885 $ 329 $ 1,185 $ 43 $ 3,442 Balance at December 31, 2017 $ 56 $ 15 $ 35 $ 2 $ 108 Provision 5 — 4 — 9 Charge-offs (5 ) (1 ) (4 ) — (10 ) Recoveries and other (2) — — 1 — 1 Balance at March 31, 2018 $ 56 $ 14 $ 36 $ 2 $ 108 Provision 4 1 4 — 9 Charge-offs (4 ) (1 ) (3 ) — (8 ) Recoveries and other (2) — — (2 ) — (2 ) Balance at June 30, 2018 $ 56 $ 14 $ 35 $ 2 $ 107 Finance receivables as of June 30, 2018 collectively evaluated for impairment (3)(4) $ 1,973 $ 356 $ 1,256 $ 45 $ 3,630 __________________ (1) Includes developing market countries and smaller units. (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 $93 and $107 at June 30, 2019 and 2018 , respectively. (4) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. 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 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 & Poor's (S&P) rating of BBB- or better. Loss rates in this category are normally 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 with such leases. Loss rates in this category are generally in the range of 2% to 5% . • 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 evaluation 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 generally in the range of 7% to 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, 2019 December 31, 2018 Investment Grade Non-investment Grade Substandard Total Finance Receivables Investment Grade Non-investment Grade Substandard Total Finance Receivables Finance and other services $ 168 $ 336 $ 93 $ 597 $ 177 $ 334 $ 88 $ 599 Government and education 424 58 18 500 453 63 9 525 Graphic arts 72 121 86 279 82 131 87 300 Industrial 81 83 18 182 86 82 16 184 Healthcare 57 62 17 136 86 48 9 143 Other 57 102 32 191 63 90 42 195 Total United States (1) 859 762 264 1,885 947 748 251 1,946 Finance and other services 59 32 18 109 52 33 20 105 Government and education 37 4 3 44 38 3 4 45 Graphic arts 21 26 27 74 22 30 26 78 Industrial 18 11 11 40 16 12 9 37 Other 30 19 13 62 34 21 15 70 Total Canada 165 92 72 329 162 99 74 335 France 212 149 26 387 232 157 29 418 U.K./Ireland 146 81 6 233 150 87 7 244 Central (2) 182 121 9 312 196 123 8 327 Southern (3) 58 135 13 206 52 136 17 205 Nordics (4) 28 18 1 47 28 15 2 45 Total Europe (5) 626 504 55 1,185 658 518 63 1,239 Other (1) 29 13 1 43 31 13 — 44 Total $ 1,679 $ 1,371 $ 392 $ 3,442 $ 1,798 $ 1,378 $ 388 $ 3,564 _____________________________ (1) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. (2) Switzerland, Germany, Austria, Belgium and Holland. (3) Italy, Greece, Spain and Portugal. (4) Sweden, Norway, Denmark and Finland. (5) Prior year amounts have been recasted to conform to the 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, 2019 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 16 $ 4 $ 2 $ 22 $ 575 $ 597 $ 11 Government and education 17 3 3 23 477 500 21 Graphic arts 12 1 1 14 265 279 5 Industrial 6 2 1 9 173 182 6 Healthcare 4 2 1 7 129 136 4 Other 5 1 1 7 184 191 3 Total United States 60 13 9 82 1,803 1,885 50 Canada 9 2 1 12 317 329 21 France 5 — — 5 382 387 12 U.K./Ireland 2 — — 2 231 233 — Central (2) 2 1 1 4 308 312 3 Southern (3) 2 1 1 4 202 206 7 Nordics (4) — — — — 47 47 — Total Europe 11 2 2 15 1,170 1,185 22 Other 3 — — 3 40 43 — Total $ 83 $ 17 $ 12 $ 112 $ 3,330 $ 3,442 $ 93 December 31, 2018 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 15 $ 4 $ 2 $ 21 $ 578 $ 599 $ 11 Government and education 17 4 3 24 501 525 24 Graphic arts 10 1 1 12 288 300 5 Industrial 5 2 1 8 176 184 5 Healthcare 4 2 1 7 136 143 5 Other 5 2 1 8 187 195 4 Total United States (1) 56 15 9 80 1,866 1,946 54 Canada 7 2 1 10 325 335 22 France 5 — — 5 413 418 14 U.K./Ireland 2 — — 2 242 244 — Central (2) 1 1 1 3 324 327 6 Southern (3) 3 1 1 5 200 205 6 Nordics (4) — — — — 45 45 — Total Europe 11 2 2 15 1,224 1,239 26 Other (1) 2 — — 2 42 44 — Total $ 76 $ 19 $ 12 $ 107 $ 3,457 $ 3,564 $ 102 _____________________________ (1) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. (2) Switzerland, Germany, Austria, Belgium and Holland. (3) Italy, Greece, Spain and Portugal. (4) Sweden, Norway, Denmark and Finland.

Finance Receivables, Net

Finance Receivables, Net	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Finance Receivables, Net	Accounts Receivable, Net Accounts receivable, net were as follows: June 30, December 31, Invoiced $ 992 $ 999 Accrued 320 333 Allowance for doubtful accounts (56 ) (56 ) Accounts receivable, net $ 1,256 $ 1,276 Amounts to be invoiced in the subsequent quarter for current services provided are included in amounts accrued. 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. The accounts receivable sold are generally short-term trade receivables with payment due dates of less than 60 days. We have one facility in Europe that enables us to sell accounts receivable associated with our distributor network on an ongoing basis, without recourse. Under this arrangement, we sell our entire interest in the related accounts receivable for cash and no portion of the payment is held back or deferred by the purchaser. Of the accounts receivable sold and derecognized from our balance sheet, $131 and $131 remained uncollected as of June 30, 2019 and December 31, 2018 , respectively. Accounts receivable sales were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Accounts receivable sales (1) $ 110 $ 128 $ 198 $ 231 Loss on sales of accounts receivable — — 1 1 __________________________ (1) Customers may also enter into structured-payable arrangements that require us to sell our receivables from that customer to a third-party financial institution, which then makes payments to us to settle the customer's receivable. In these instances, we ensure the sale of the receivables are bankruptcy-remote and the payment made to us is without recourse. The activity associated with these arrangements is not reflected in this disclosure, as payments under these arrangements have not been material and these are customer directed arrangements. Finance receivables include sales-type leases and installment loans arising from the marketing of our equipment. These receivables are typically collateralized by a security interest in the underlying assets. Amounts disclosed below at December 31, 2018 were accounted for under ASC 840, Leases, which was superseded by ASC 842, Leases, adopted on January 1, 2019. Differences upon adoption were not material. Refer to Note 2 - Recent Accounting Pronouncements for additional information. Finance receivables, net were as follows: June 30, December 31, Gross receivables $ 3,860 $ 4,003 Unearned income (418 ) (439 ) Subtotal 3,442 3,564 Residual values — — Allowance for doubtful accounts (93 ) (92 ) Finance receivables, net 3,349 3,472 Less: Billed portion of finance receivables, net 108 105 Less: Current portion of finance receivables not billed, net 1,177 1,218 Finance receivables due after one year, net $ 2,064 $ 2,149 A summary of future contractual maturities of our gross finance receivables, including those previously billed is as follows: June 30, December 31, 12 Months (1) $ 1,514 $ 1,543 24 Months 1,057 1,108 36 Months 715 755 48 Months 405 425 60 Months 151 158 Thereafter 18 14 Total $ 3,860 $ 4,003 __________________ (1) Includes amounts previously billed of $112 and $107 as of June 30, 2019 and December 31, 2018 , respectively. Finance Receivables – Allowance for Credit Losses and Credit Quality Finance receivables include sales-type leases, direct financing leases and installment loans arising from the marketing of our equipment. 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 allowance for doubtful finance receivables as well as the related investment in finance receivables were as follows: Allowance for Credit Losses: United States Canada Europe Other (1) Total Balance at December 31, 2018 $ 53 $ 12 $ 25 $ 2 $ 92 Provision 4 1 4 — 9 Charge-offs (4 ) (1 ) (3 ) — (8 ) Recoveries and other (2) — — — — — Balance at March 31, 2019 $ 53 $ 12 $ 26 $ 2 $ 93 Provision 4 1 3 — 8 Charge-offs (5 ) (3 ) (3 ) — (11 ) Recoveries and other (2) 1 2 — — 3 Balance at June 30, 2019 $ 53 $ 12 $ 26 $ 2 $ 93 Finance receivables as of June 30, 2019 collectively evaluated for impairment (3) $ 1,885 $ 329 $ 1,185 $ 43 $ 3,442 Balance at December 31, 2017 $ 56 $ 15 $ 35 $ 2 $ 108 Provision 5 — 4 — 9 Charge-offs (5 ) (1 ) (4 ) — (10 ) Recoveries and other (2) — — 1 — 1 Balance at March 31, 2018 $ 56 $ 14 $ 36 $ 2 $ 108 Provision 4 1 4 — 9 Charge-offs (4 ) (1 ) (3 ) — (8 ) Recoveries and other (2) — — (2 ) — (2 ) Balance at June 30, 2018 $ 56 $ 14 $ 35 $ 2 $ 107 Finance receivables as of June 30, 2018 collectively evaluated for impairment (3)(4) $ 1,973 $ 356 $ 1,256 $ 45 $ 3,630 __________________ (1) Includes developing market countries and smaller units. (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 $93 and $107 at June 30, 2019 and 2018 , respectively. (4) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. 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 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 & Poor's (S&P) rating of BBB- or better. Loss rates in this category are normally 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 with such leases. Loss rates in this category are generally in the range of 2% to 5% . • 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 evaluation 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 generally in the range of 7% to 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, 2019 December 31, 2018 Investment Grade Non-investment Grade Substandard Total Finance Receivables Investment Grade Non-investment Grade Substandard Total Finance Receivables Finance and other services $ 168 $ 336 $ 93 $ 597 $ 177 $ 334 $ 88 $ 599 Government and education 424 58 18 500 453 63 9 525 Graphic arts 72 121 86 279 82 131 87 300 Industrial 81 83 18 182 86 82 16 184 Healthcare 57 62 17 136 86 48 9 143 Other 57 102 32 191 63 90 42 195 Total United States (1) 859 762 264 1,885 947 748 251 1,946 Finance and other services 59 32 18 109 52 33 20 105 Government and education 37 4 3 44 38 3 4 45 Graphic arts 21 26 27 74 22 30 26 78 Industrial 18 11 11 40 16 12 9 37 Other 30 19 13 62 34 21 15 70 Total Canada 165 92 72 329 162 99 74 335 France 212 149 26 387 232 157 29 418 U.K./Ireland 146 81 6 233 150 87 7 244 Central (2) 182 121 9 312 196 123 8 327 Southern (3) 58 135 13 206 52 136 17 205 Nordics (4) 28 18 1 47 28 15 2 45 Total Europe (5) 626 504 55 1,185 658 518 63 1,239 Other (1) 29 13 1 43 31 13 — 44 Total $ 1,679 $ 1,371 $ 392 $ 3,442 $ 1,798 $ 1,378 $ 388 $ 3,564 _____________________________ (1) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. (2) Switzerland, Germany, Austria, Belgium and Holland. (3) Italy, Greece, Spain and Portugal. (4) Sweden, Norway, Denmark and Finland. (5) Prior year amounts have been recasted to conform to the 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, 2019 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 16 $ 4 $ 2 $ 22 $ 575 $ 597 $ 11 Government and education 17 3 3 23 477 500 21 Graphic arts 12 1 1 14 265 279 5 Industrial 6 2 1 9 173 182 6 Healthcare 4 2 1 7 129 136 4 Other 5 1 1 7 184 191 3 Total United States 60 13 9 82 1,803 1,885 50 Canada 9 2 1 12 317 329 21 France 5 — — 5 382 387 12 U.K./Ireland 2 — — 2 231 233 — Central (2) 2 1 1 4 308 312 3 Southern (3) 2 1 1 4 202 206 7 Nordics (4) — — — — 47 47 — Total Europe 11 2 2 15 1,170 1,185 22 Other 3 — — 3 40 43 — Total $ 83 $ 17 $ 12 $ 112 $ 3,330 $ 3,442 $ 93 December 31, 2018 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 15 $ 4 $ 2 $ 21 $ 578 $ 599 $ 11 Government and education 17 4 3 24 501 525 24 Graphic arts 10 1 1 12 288 300 5 Industrial 5 2 1 8 176 184 5 Healthcare 4 2 1 7 136 143 5 Other 5 2 1 8 187 195 4 Total United States (1) 56 15 9 80 1,866 1,946 54 Canada 7 2 1 10 325 335 22 France 5 — — 5 413 418 14 U.K./Ireland 2 — — 2 242 244 — Central (2) 1 1 1 3 324 327 6 Southern (3) 3 1 1 5 200 205 6 Nordics (4) — — — — 45 45 — Total Europe 11 2 2 15 1,224 1,239 26 Other (1) 2 — — 2 42 44 — Total $ 76 $ 19 $ 12 $ 107 $ 3,457 $ 3,564 $ 102 _____________________________ (1) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. (2) Switzerland, Germany, Austria, Belgium and Holland. (3) Italy, Greece, Spain and Portugal. (4) Sweden, Norway, Denmark and Finland.

Inventories and Equipment on Op

Inventories and Equipment on Operating Leases, Net	6 Months Ended
	Jun. 30, 2019
Inventories and Equipment on Operating Leases, Net [Abstract]
Inventories and Equipment on Operating Leases, Net	Inventories and Equipment on Operating Leases, Net The following is a summary of Inventories by major category: June 30, December 31, Finished goods $ 659 $ 699 Work-in-process 55 49 Raw materials 74 70 Total Inventories $ 788 $ 818 The transfer of equipment from our inventories to equipment subject to an operating lease is presented in our Consolidated Statements of Cash Flows in the operating activities section. Equipment on operating leases and similar arrangements consists of our equipment rented to customers and depreciated to estimated salvage value at the end of the lease term. Amounts disclosed below at December 31, 2018 were accounted for under ASC 840, Leases, which was superseded by ASC 842, Leases, adopted on January 1, 2019. Differences upon adoption were not material. Refer to Note 2 - Recent Accounting Pronouncements for additional information. Equipment on operating leases and the related accumulated depreciation were as follows: June 30, December 31, Equipment on operating leases $ 1,495 $ 1,519 Accumulated depreciation (1,096 ) (1,077 ) Equipment on operating leases, net $ 399 $ 442 Estimated minimum future revenues associated with Equipment on operating leases are as follows: June 30, December 31, 2019 (1) $ 128 $ 260 2020 216 178 2021 132 111 2022 73 61 2023 31 21 Thereafter 6 2 Total $ 586 $ 633 _____________ (1) 2019 amount represents the future minimum revenues expected to be earned over the remaining balance of the year. Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum contracted amounts, were $28 and $31 for the three months ended June 30, 2019 and 2018 , respectively, and $55 and $61 for the six months ended June 30, 2019 and 2018

Investment in Affiliates, at Eq

Investment in Affiliates, at Equity	6 Months Ended
	Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Investment in Affiliates, at Equity	Investment in Affiliates, at Equity Our Equity in net income (loss) of unconsolidated affiliates was as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Fuji Xerox $ 32 $ 17 $ 75 $ (53 ) Other 2 2 4 4 Total Equity in net income (loss) of unconsolidated affiliates $ 34 $ 19 $ 79 $ (49 ) Fuji Xerox Equity in net income (loss) 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 (loss) that is different from that implied by our 25% ownership interest. In addition, the Equity in net income (loss) of Fuji Xerox for the three months ended June 30, 2019 and 2018 included after-tax restructuring and other charges of $7 and $4 , respectively, and $19 and $83 for the six months ended June 30, 2019 and 2018 , respectively. Fuji Xerox recorded a cumulative charge of JPY 12 billion (approximately $110 based on the Yen/U.S. Dollar average exchange rate for the quarter ended March 31, 2018 of 108.07 ) in their net loss for the quarter ended March 31, 2018 (our first quarter 2018) related to the correction of certain out-of-period adjustments and misstatements. Our recognition of 25% of Fuji Xerox’s net loss for Xerox’s first quarter 2018 included an approximately $28 charge related to these adjustments and misstatements. Summarized financial information for Fuji Xerox was as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Summary of Operations Revenues $ 2,145 $ 2,226 $ 4,606 $ 4,691 Costs and expenses 1,948 2,098 4,152 4,869 Income (Loss) before Income Taxes 197 128 454 (178 ) Income tax expense 65 50 150 11 Net Income (Loss) 132 78 304 (189 ) Less: Net income attributable to noncontrolling interests — 1 1 1 Net Income (Loss) – Fuji Xerox $ 132 $ 77 $ 303 $ (190 ) Weighted Average Exchange Rate (1) 109.80 109.05 110.08 108.54 _____________________________ (1) Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs

Restructuring Programs	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Programs	Restructuring Programs We engage in restructuring actions, including Project Own It, as well as other transformation efforts in order to reduce our cost structure and realign it to the changing nature of our business and to achieve operating efficiencies through a number of opportunities including reduction of our real estate footprint. During the six months ended June 30, 2019 , we recorded net restructuring and asset impairment charges of $72 , which included $25 of severance costs related to headcount reductions of approximately 300 employees worldwide, $17 of other contractual termination costs and $46 of asset impairment charges. These costs were partially offset by $16 of net reversals, primarily resulting from changes in estimated reserves from prior period initiatives as well as $2 in favorable adjustments from the early termination of prior period impaired leases. Information related to restructuring program activity is outlined below: Severance and Related Costs Other Contractual Termination Costs (2) Asset Impairments (3) Total Balance at December 31, 2018 $ 94 $ 1 $ — $ 95 Provision 12 14 36 62 Reversals (8 ) — — (8 ) Net current period charges (1) 4 14 36 54 Charges against reserve and currency (32 ) (1 ) (36 ) (69 ) Balance at March 31, 2019 $ 66 $ 14 $ — $ 80 Provision 13 3 10 26 Reversals (6 ) — (2 ) (8 ) Net current period charges (1) 7 3 8 18 Charges against reserve and currency (17 ) (4 ) (8 ) (29 ) Balance at June 30, 2019 $ 56 $ 13 $ — $ 69 ____________________________ (1) Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairment charges. (2) Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs. (3) Primarily related to the exit and abandonment of leased and owned facilities. The charge includes the accelerated write-off of $34 for leased right-of-use asset balances and $12 for owned asset balances upon exit from the facility net of any potential sublease income or other recovery amounts . The following table summarizes the reconciliation to the Condensed Consolidated Statements of Cash Flows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Charges against reserve and currency $ (29 ) $ (40 ) $ (98 ) $ (92 ) Effects of foreign currency and other non-cash items 8 3 44 1 Restructuring cash payments $ (21 ) $ (37 ) $ (54 ) $ (91 ) In connection with our restructuring programs, we also incurred certain related costs as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2019 Retention related severance/bonuses (1) $ 11 $ 20 Contractual severance costs (2) — 38 Consulting and other costs (3) 8 19 Total $ 19 $ 77 ____________________________ (1) Includes retention related severance and bonuses for employees expected to continue working beyond their minimum notification period before termination. (2) Reflects estimated severance costs we are contractually required to pay on employees transferred (approximately 2,200 ) as part of the shared service arrangement entered into with HCL Technologies. (3) Represents professional support services associated with our business transformation initiatives.

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Interest Expense and Income Interest expense and income were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Interest expense (1) $ 59 $ 60 $ 118 $ 123 Interest income (2) 64 72 131 146 ____________ (1) Includes Cost of financing 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, 2019
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, 2019 , pay variable/receive fixed interest rate swaps with notional amounts of $200 and net asset fair value of $2 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. No ineffective portion was recorded to earnings for the six months ended June 30, 2019 . The following is a summary of our fair value hedges at June 30, 2019 : Debt Instrument Year First Designated Notional Amount Net Fair Value Weighted Average Interest Rate Paid Interest Rate Received Basis Maturity Senior Note 2021 2014 $ 200 $ 2 3.26 % 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, 2019 and December 31, 2018 , we had outstanding forward exchange and purchased option contracts with gross notional values of $1,272 and $1,103 respectively, with terms of less than 12 months. Approximately 82% of the contracts at June 30, 2019 mature within three months, 9% mature in three to six months and 9% in six to twelve months. The associated currency exposures being hedged at June 30, 2019 were materially consistent with our year-end currency exposures. 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 inventory purchases, sales and expenses. The net asset fair value of these contracts were $5 and $8 as of June 30, 2019 and December 31, 2018 , 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, December 31, Derivatives Designated as Hedging Instruments Foreign exchange contracts - forwards Other current assets $ 6 $ 7 Accrued expenses and other current liabilities (1 ) — Foreign currency options Other current assets — 1 Interest rate swaps Other long-term assets 2 — Other long-term liabilities — (3 ) Net designated derivative asset $ 7 $ 5 Derivatives NOT Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 2 $ 7 Accrued expenses and other current liabilities (2 ) (1 ) Net undesignated derivative asset $ — $ 6 Summary of Derivatives Total Derivative assets $ 10 $ 15 Total Derivative liabilities (3 ) (4 ) Net Derivative asset $ 7 $ 11 Summary of Derivative Instruments Gains (Losses) Derivative gains and (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 2019 2018 2019 2018 Fair Value Hedges - Interest Rate Contracts Derivative gain (loss) recognized in interest expense $ 3 $ (1 ) $ 5 $ (6 ) Hedged item (loss) gain recognized in interest expense (3 ) 1 (5 ) 6 Cash Flow Hedges - Foreign Exchange Forward Contracts and Options Derivative gain (loss) recognized in OCI (effective portion) $ 3 $ (2 ) $ 6 $ 10 Derivative gain (loss) reclassified from AOCL to income - Cost of sales (effective portion) 2 — 3 (12 ) During the three and six months ended June 30, 2019 and 2018 , no amount of ineffectiveness was recorded in the Condensed Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or (loss) were 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. As of June 30, 2019 , a net after-tax gain of $6 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 remeasurement of the underlying foreign currency-denominated asset or liability. The following table provides a summary of gains (losses) on non-designated derivative instruments: Derivatives NOT Designated as Hedging Instruments Three Months Ended Six Months Ended Location of Derivative Gain (Loss) 2019 2018 2019 2018 Foreign exchange contracts – forwards Other expense – Currency (loss) gain, net $ 6 $ 18 $ 1 $ 18 For the three and six months ended June 30, 2019 currency (losses) gains, net were $0 and $(2) , respectively, and for the three and six months ended June 30, 2018 were $(1) and $1 , respectively. Net currency gains and losses 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 remeasurement of foreign currency-denominated assets and liabilities and are included in Other expenses, net.

Fair Value of Financial Assets

Fair Value of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2019
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, December 31, Assets Foreign exchange contracts - forwards $ 8 $ 14 Foreign currency options — 1 Interest rate swaps 2 — Deferred compensation investments in mutual funds 18 16 Total $ 28 $ 31 Liabilities Foreign exchange contracts - forwards $ 3 $ 1 Interest rate swaps — 3 Deferred compensation plan liabilities 17 16 Total $ 20 $ 20 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 mutual funds is based on quoted market prices for those funds. Fair value for deferred compensation plan liabilities is based on the fair value of investments corresponding to employees’ investment selections. Summary of Other Financial Assets and Liabilities The estimated fair values of our other financial assets and liabilities were as follows: June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents $ 712 $ 712 $ 1,084 $ 1,084 Accounts receivable, net 1,256 1,256 1,276 1,276 Short-term debt and current portion of long-term debt 866 870 961 966 Long-term debt 3,962 3,995 4,269 3,922 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-term debt, including the current portion of long-term debt, 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, 2019
Retirement Benefits [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: 2019 2018 2019 2018 2019 2018 Service cost $ 1 $ — $ 5 $ 7 $ 1 $ 1 Interest cost 28 34 38 38 4 7 Expected return on plan assets (25 ) (36 ) (58 ) (62 ) — — Recognized net actuarial loss (gain) 6 6 12 15 (1 ) — Amortization of prior service credit (1 ) (1 ) (1 ) (1 ) (19 ) (1 ) Recognized settlement loss 27 26 — — — — Defined benefit plans 36 29 (4 ) (3 ) (15 ) 7 Defined contribution plans (1) 5 10 6 7 n/a n/a Net Periodic Benefit Cost (Credit) 41 39 2 4 (15 ) 7 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (2) 21 12 — — — 10 Amortization of net actuarial (loss) benefit (33 ) (32 ) (12 ) (15 ) 1 — Amortization of prior service credit 1 1 1 1 19 1 Total Recognized in Other Comprehensive Income (Loss) (3) (11 ) (19 ) (11 ) (14 ) 20 11 Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) $ 30 $ 20 $ (9 ) $ (10 ) $ 5 $ 18 Six Months Ended June 30, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health Components of Net Periodic Benefit Costs: 2019 2018 2019 2018 2019 2018 Service cost $ 1 $ 1 $ 12 $ 13 $ 1 $ 2 Interest cost 58 67 77 77 8 13 Expected return on plan assets (51 ) (70 ) (118 ) (125 ) — — Recognized net actuarial loss (gain) 11 12 22 30 (2 ) — Amortization of prior service credit (1 ) (1 ) (1 ) (2 ) (38 ) (2 ) Recognized settlement loss 58 51 — — — — Defined benefit plans 76 60 (8 ) (7 ) (31 ) 13 Defined contribution plans (1) 13 19 12 14 n/a n/a Net Periodic Benefit Cost (Credit) 89 79 4 7 (31 ) 13 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (gain) (2) 36 (46 ) — — — 10 Amortization of net actuarial loss (69 ) (63 ) (22 ) (30 ) 2 — Amortization of prior service credit 1 1 1 2 38 2 Total Recognized in Other Comprehensive Income (Loss) (3) (32 ) (108 ) (21 ) (28 ) 40 12 Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) $ 57 $ (29 ) $ (17 ) $ (21 ) $ 9 $ 25 __________________________ (1) Prior year amounts have been revised to reflect additional cost for previously excluded plans. (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 1st plan census data. (3) Amounts represent the pre-tax effect included within Other Comprehensive Income. Refer to Note 19 - Other Comprehensive Income (Loss) 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, 2019 2018 Estimated 2019 2018 U.S. plans $ 13 $ 14 $ 25 $ 27 Non-U.S. plans 57 61 110 117 Total Pension $ 70 $ 75 $ 135 $ 144 Retiree Health $ 16 $ 29 $ 35 $ 57 There are no mandatory contributions required in 2019 for our U.S. tax-qualified defined benefit plans to meet the minimum funding requirements.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity (shares in thousands) For information related to the Reorganization of Xerox and Xerox Holdings, refer to Note 1 - Basis of Presentation - Corporate Reorganization. The shareholders' equity information presented below reflects the activity of Xerox only. Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non-controlling Interests Total Equity Balance at March 31, 2019 $ 230 $ 3,282 $ (103 ) $ 5,270 $ (3,652 ) $ 5,027 $ 36 $ 5,063 Comprehensive income, net — — — 181 5 186 3 189 Cash dividends declared - common (3) — — — (57 ) — (57 ) — (57 ) Cash dividends declared - preferred (4) — — — (3 ) — (3 ) — (3 ) Stock option and incentive plans, net — 6 — — — 6 — 6 Payments to acquire treasury stock, including fees — — (197 ) — — (197 ) — (197 ) Cancellation of treasury stock (5 ) (164 ) 169 — — — — — Distributions to noncontrolling interests — — — — — — (9 ) (9 ) Balance at June 30, 2019 $ 225 $ 3,124 $ (131 ) $ 5,391 $ (3,647 ) $ 4,962 $ 30 $ 4,992 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non- controlling Interests Total Equity Balance at March 31, 2018 $ 255 $ 3,908 $ — $ 4,927 $ (3,537 ) $ 5,553 $ 29 $ 5,582 Cumulative effect of change in accounting principle — — — 3 — 3 — 3 Comprehensive income (loss), net — — — 112 (235 ) (123 ) 2 (121 ) Cash dividends declared - common (3) — — — (65 ) — (65 ) — (65 ) Cash dividends declared - preferred (4) — — — (3 ) — (3 ) — (3 ) Stock option and incentive plans, net — 12 — — — 12 — 12 Balance at June 30, 2018 $ 255 $ 3,920 $ — $ 4,974 $ (3,772 ) $ 5,377 $ 31 $ 5,408 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non-controlling Interests Total Equity Balance at December 31, 2018 $ 232 $ 3,321 $ (55 ) $ 5,072 $ (3,565 ) $ 5,005 $ 34 $ 5,039 Cumulative effect of change in accounting principle (2) — — — 127 (127 ) — — — Comprehensive income, net — — — 314 45 359 6 365 Cash dividends declared - common (3) — — — (115 ) — (115 ) — (115 ) Cash dividends declared - preferred (4) — — — (7 ) — (7 ) — (7 ) Stock option and incentive plans, net — 20 — — — 20 — 20 Payments to acquire treasury stock, including fees — — (300 ) — — (300 ) — (300 ) Cancellation of treasury stock (7 ) (217 ) 224 — — — — — Distributions to noncontrolling interests — — — — — — (10 ) (10 ) Balance at June 30, 2019 $ 225 $ 3,124 $ (131 ) $ 5,391 $ (3,647 ) $ 4,962 $ 30 $ 4,992 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non- controlling Interests Total Equity Balance at December 31, 2017 $ 255 $ 3,893 $ — $ 4,856 $ (3,748 ) $ 5,256 $ 37 $ 5,293 Cumulative effect of change in accounting principles — — — 120 — 120 — 120 Comprehensive income (loss), net — — — 135 (24 ) 111 5 116 Cash dividends declared - common (3) — — — (130 ) — (130 ) — (130 ) Cash dividends declared - preferred (4) — — — (7 ) — (7 ) — (7 ) Stock option and incentive plans, net — 27 — — — 27 — 27 Distributions to noncontrolling interests — — — — — — (11 ) (11 ) Balance at June 30, 2018 $ 255 $ 3,920 $ — $ 4,974 $ (3,772 ) $ 5,377 $ 31 $ 5,408 _____________________________ (1) Refer to Note 19 - Other Comprehensive Income (Loss) for the components of AOCL. (2) Refer to Note 2 - Recent Accounting Pronouncements - Income Taxes, for additional information related to the adoption of ASU 2018-02. (3) Cash dividends declared on common stock for the three and six months ended June 30, 2019 and 2018 were $0.25 per share and $0.50 per share, respectively. (4) Cash dividends declared on preferred stock for the three and six months ended June 30, 2019 and 2018 were $20.00 per share and $40.00 per share, respectively. Treasury Stock The following is a summary of the purchases of common stock during 2019 : Shares Amount Balance at December 31, 2018 2,067 $ 55 Purchases (1) 9,246 300 Cancellations (7,348 ) (224 ) Balance at June 30, 2019 3,965 $ 131 _____________________________ (1) Includes associated fees.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation (shares in thousands) We have a long-term incentive plan whereby eligible employees may be granted restricted stock units (RSUs), performance shares (PSs) and stock options (SOs). We grant stock-based compensation awards in order to continue to attract and retain qualified employees and to better align employees' interests with those of our shareholders. Each of these awards is subject to settlement with newly issued shares of our common stock. Stock-based compensation expense was as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Stock-based compensation expense, pre-tax $ 15 $ 13 $ 30 $ 29 Income tax benefit recognized in earnings 3 3 7 7 The board of directors (the "Board") recently approved a change in the timing of our annual grant of awards from April to January to fully align the grant date with the underlying performance period related to PSs. The following is a summary of the program design and performance metrics effective for our January 2019 grant and grants thereafter, as approved by the Board. Stock options were not awarded under the 2019 grant. Restricted Stock Units Compensation expense for RSUs is based upon the grant date market price and is recognized on a straight-line basis over the vesting period, based on management's estimate of the number of shares expected to vest. RSUs vest on a graded schedule as follows: 25% after one year of service, 25% after two years of service, and 50% after three years of service from the date of grant. Shares awarded to employees who are retirement-eligible at the date of grant, become retirement-eligible during the vesting period, or are terminated not-for-cause (e.g. as part of a restructuring initiative), vest based on service provided from the date of grant to the date of separation. Shares granted through June 30, 2019 under this program were 1,265 , with a corresponding weighted average grant date fair value of $22.49 per share. Performance Shares In connection with the January 2019 grant, the Board approved a change to the PSs performance goals replacing the Total Shareholder Return (TSR) metric with an Absolute Share Price metric focusing on stock price appreciation. The Board retained the Revenue and Free Cash Flow metrics as performance goals as well as the three -year performance period for all measures. The performance metrics are weighted as follows: 25% Revenue, 25% Free Cash Flow and 50% Absolute Share Price. Each PS grant is one-half performance based (Revenue and Free Cash Flow) and one-half market-based (Absolute Share Price). The performance goals are independent of each other and depending on the achievement of these metrics, a recipient of a PS award is entitled to receive a number of shares equal to a percentage, ranging from 0% to 200% of the PS award granted. PSs retain the three -year cliff vesting from the date of grant. Performance-Based Component PSs vest contingent upon meeting pre-determined cumulative performance metrics. The fair value of our PSs is based upon the grant-date market price. Compensation expense is recognized on a straight-line basis over the vesting period, based on management's estimate of the number of shares expected to vest. If the cumulative three -year actual results exceed the stated targets, all plan participants have the potential to earn additional shares of common stock up to a maximum overachievement of 100% of the original grant. If the stated targets are not met, any recognized compensation cost would be reversed. Shares granted through June 30, 2019 under this program were 708 , with a corresponding weighted average grant date fair value of $22.49 per share. Market-Based Component The Absolute Share Price metric is based on Xerox's average closing price for the last 20 trading days of the performance period, inclusive of dividends during the three -year performance period. Payout for this portion of the PS will be determined based on total return targets approved by the compensation committee of the Board. Since this portion of the PS award represents a market condition, a Monte Carlo simulation was used to determine the grant-date fair value. A summary of the key valuation input assumptions used in the Monte Carlo simulation relative to PS awards granted were as follows: Program to Date June 30, 2019 Term 3 years Risk-free interest rate (1) 2.51 % Dividend yield (2) 3.97 % Xerox’s blended volatility (3) 32.95 % Weighted average fair value (4) $ 16.16 ____________ (1) The risk-free interest rate was based on the zero-coupon U.S. Treasury yield curve on the valuation date, with a maturity matched to the performance period . (2) The dividend yield was calculated as the expected quarterly dividend divided by Xerox’s three-month average stock price as of the valuation date, annualized and continuously compounded. (3) Xerox’s volatility is calculated using a blended volatility approach, with 50% weight on Xerox's historical volatility calculated from daily stock returns over a three -year look-back term from the valuation date, and 50% weight on Xerox's implied volatility. (4) The weighted average of fair values used to record compensation expense as determined by the Monte Carlo simulation. The Absolute Share Price is compared against total return targets to determine the payout as follows: Total Return Targets (1) Payout Percentages $40.00 and above 200 % $35.00 100 % $30.00 50 % Below $30.00 0 % ____________ (1) For performance between the levels described above, the degree of vesting is interpolated on a linear basis. Compensation expense is recognized on a straight-line basis over the vesting period based on the fair value determined by the Monte Carlo simulation and, except in cases of employee forfeiture, cannot be reversed regardless of performance. Shares granted through June 30, 2019 under this program were 708 . Note: Management’s estimate of the number of shares expected to vest at the time of grant reflects an estimate for forfeitures based on our historical forfeiture rate to date. Should actual forfeitures differ from management’s estimate, the activity will be reflected in a subsequent period.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) Other Comprehensive Income (Loss) is comprised of the following: Three Months Ended Six Months Ended 2019 2018 2019 2018 Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Translation adjustments (losses) gains $ (5 ) $ (4 ) $ (335 ) $ (322 ) $ 32 $ 33 $ (151 ) $ (146 ) Unrealized gains (losses) Changes in fair value of cash flow hedges gains (losses) 3 1 (2 ) (1 ) 6 4 10 7 Changes in cash flow hedges reclassed to earnings (1) (2 ) (1 ) — — (3 ) (2 ) 12 10 Other losses — — (2 ) (2 ) — — (3 ) (3 ) Net Unrealized gains (losses) 1 — (4 ) (3 ) 3 2 19 14 Defined benefit plans (losses) gains Net actuarial/prior service (losses) gains (21 ) (15 ) (22 ) (16 ) (36 ) (27 ) 36 27 Prior service amortization (2) (21 ) (16 ) (3 ) (3 ) (40 ) (30 ) (5 ) (4 ) Actuarial loss amortization/settlement (2) 44 33 47 35 89 67 93 70 Fuji Xerox changes in defined benefit plans, net (3) (7 ) (7 ) (3 ) (3 ) 2 2 (24 ) (24 ) Other gains (losses) (4) 14 14 77 77 (2 ) (2 ) 39 39 Changes in defined benefit plans gains 9 9 96 90 13 10 139 108 Other Comprehensive Income (Loss) Attributable to Xerox $ 5 $ 5 $ (243 ) $ (235 ) $ 48 $ 45 $ 7 $ (24 ) _____________________________ (1) Reclassified to Cost of sales - refer to Note 14 - Financial Instruments for additional information regarding our cash flow hedges. (2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 16 - 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, December 31, Cumulative translation adjustments $ (1,990 ) $ (2,023 ) Other unrealized gains, net 6 4 Benefit plans net actuarial losses and prior service credits (1)(2) (1,663 ) (1,546 ) Total Accumulated other comprehensive loss attributable to Xerox $ (3,647 ) $ (3,565 ) _____________________________ (1) Includes our share of Fuji Xerox. (2) The change from December 31, 2018 includes $(127) related to the adoption of ASU 2018-02 and the reclassification of stranded tax effects resulting from the Tax Act - refer to Note 2 - Recent Accounting Pronouncements - Income Taxes for additional information.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share (shares in thousands) The following table sets forth the computation of basic and diluted earnings per share of common stock: Three Months Ended Six Months Ended 2019 2018 2019 2018 Basic Earnings per Share Net Income Attributable to Xerox $ 181 $ 112 $ 314 $ 135 Accrued dividends on preferred stock (3 ) (3 ) (7 ) (7 ) Adjusted Net income available to common shareholders $ 178 $ 109 $ 307 $ 128 Weighted average common shares outstanding 223,606 254,895 226,040 254,791 Basic Earnings per Share $ 0.79 $ 0.42 $ 1.36 $ 0.50 Diluted Earnings per Share Net Income Attributable to Xerox $ 181 $ 112 $ 314 $ 135 Accrued dividends on preferred stock — (3 ) — (7 ) Adjusted Net income available to common shareholders $ 181 $ 109 $ 314 $ 128 Weighted average common shares outstanding 223,606 254,895 226,040 254,791 Common shares issuable with respect to: Stock options 65 — 34 — Restricted stock and performance shares 4,866 3,052 4,637 2,931 Convertible preferred stock 6,742 — 6,742 — Adjusted Weighted average common shares outstanding 235,279 257,947 237,453 257,722 Diluted Earnings per Share $ 0.77 $ 0.42 $ 1.32 $ 0.50 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 848 1,097 879 1,097 Restricted stock and performance shares 2,357 4,329 2,587 4,450 Convertible preferred stock — 6,742 — 6,742 Total Anti-Dilutive Securities 3,205 12,168 3,466 12,289 Dividends per Common Share $ 0.25 $ 0.25 $ 0.50 $ 0.50

Contingencies and Litigation

Contingencies and Litigation	6 Months Ended
	Jun. 30, 2019
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; governmental entity contracting; servicing and procurement law; intellectual property law; environmental law; employment law; the Employee Retirement Income Security Act (ERISA); and other laws and regulations. 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 Contingencies Our Brazilian operations have received or been the subject of numerous governmental assessments related to indirect and other taxes. The tax matters principally relate to claims for taxes on the internal transfer of inventory, municipal service taxes on rentals and gross revenue taxes. We are disputing these tax matters and intend to vigorously defend our positions. 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. Below is a summary of our Brazilian tax contingencies: June 30, December 31, Tax contingency - unreserved $ 465 $ 500 Escrow cash deposits 59 58 Surety bonds 107 106 Letters of credit 93 104 Liens on Brazilian assets — — The decrease in the unreserved portion of the tax contingency, inclusive of any related interest, was primarily related to closed cases, partially offset by currency and interest. With respect to the unreserved tax contingency, 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 well as, additional surety bonds and letters of credit, which include associated indexation. Generally, any escrowed amounts would be refundable and any liens on assets would be removed to the extent the matters are resolved in our favor. We are also involved in certain disputes with contract and former employees. Exposures related to labor matters are not material to the financial statements as of June 30, 2019 and December 31, 2018. We routinely assess all these matters as to the 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 Pending Litigation Relating to the Fuji Transaction: 1. Deason v. Fujifilm Holdings Corp., et al.; Deason v. Xerox Corp., et al.; In re Xerox Corporation Consolidated Shareholder Litigation: In February 2018, five complaints (the "Fuji Transaction Shareholder Lawsuits"), including four putative class actions (which have been consolidated), were filed by Xerox shareholders in the Supreme Court of the State of New York, County of New York (the "Court") in connection with the proposed transaction to combine Xerox and Fuji Xerox (the “Fuji Transaction”). All of the complaints name as defendants Xerox, its directors, and FUJIFILM Holdings Corporation (“Fujifilm”). The complaint in one of the actions also names as a defendant Ursula M. Burns, the former Chief Executive Officer of Xerox. The plaintiffs allege, among other things, that Xerox's directors breached their fiduciary duties in negotiating, approving, and purportedly making false and misleading disclosures about the Fuji Transaction, and that Fujifilm aided and abetted those breaches. The complaint in one of the actions further alleges that Xerox and the director defendants engaged in common law fraud by purportedly failing to disclose information about the joint venture agreements between Xerox and Fujifilm. The Fuji Transaction Shareholder Lawsuits seek injunctive relief preventing the previously proposed transactions, and/or additional disclosures by Xerox’s directors, unspecified damages from Xerox’s directors, costs and attorneys’ fees, as well as other relief. One of the Fuji Transaction Shareholder Lawsuits was brought by Darwin Deason, a Xerox shareholder ("Deason I"). Another complaint was filed by Mr. Deason against Xerox and its directors in the same Court on March 2, 2018 ("Deason II") alleging that defendants breached their fiduciary duties by refusing Mr. Deason’s request for a waiver of the deadline for nomination of a new slate of Xerox directors. In Deason II, Mr. Deason sought to enjoin Xerox and its directors from enforcing Xerox’s advance notice by-laws, thereby allowing Mr. Deason to proceed with the nominations, as well as costs, fees, and other relief. On April 27, 2018, the Court issued decisions and orders granting plaintiffs’ preliminary injunction motions, which (i) enjoined Xerox from “taking any further action to consummate the change of control transaction between Xerox and Fuji that was announced on January 31, 2018 pending a final determination of the claims asserted in the underlying action;” (ii) enjoined Xerox from enforcing its advance notice bylaw provision requiring shareholders to nominate directors for election at the 2018 annual shareholder meeting by December 11, 2017; and (iii) required Xerox to waive such advance notice bylaw provision to permit the noticing of a slate of director nominees for election at the 2018 annual shareholder meeting, and denying defendants’ motions to dismiss. On May 1, 2018, Xerox entered into a Director Appointment, Nomination and Settlement Agreement (the “Initial Settlement Agreement”) with Mr. Deason and Carl C. Icahn and certain of his affiliates who were also Xerox shareholders (the "Icahn Group"), among others, that would have resolved Deason I, Deason II and the pending proxy contest in connection with Xerox’s 2018 Annual Meeting of Shareholders. The Initial Settlement Agreement expired by its terms on May 3, 2018 without becoming effective. On May 7, 2018, defendants filed with the Supreme Court of the State of New York, Appellate Division, First Judicial Department, notices of appeal of, and motions to stay pending appeal, the lower Court’s decision and order. Defendants also moved the appellate court for interim relief ordering that the appeal be heard on an expedited basis. At a hearing before the appellate court on May 7, 2018, the appellate court ruled that the appeals would be heard on an expedited basis and granted a partial interim stay allowing Xerox and Fujifilm to take steps to seek regulatory approvals related to the Fuji Transaction pending a ruling from the appellate court on defendants’ motions to stay pending appeal. On May 13, 2018, a second Director Appointment, Nomination and Settlement Agreement (the "Final Settlement Agreement") with respect to Deason I, Deason II and the pending proxy contest in connection with Xerox's 2018 Annual Meeting of Shareholders that was initiated by the Icahn Group was signed on behalf of Mr. Deason, the Icahn Group and all defendants except Fujifilm, and a memorandum of understanding regarding settlement of the putative class case was signed by all defendants except Fujifilm. Pursuant to the settlements, the settling defendants withdrew their appeal and motion to stay in Deason I and Deason II. The settling defendants also withdrew their motion to stay in the putative class case. The Court entered a stipulation of discontinuance as to the settling parties in Deason II on May 14, 2018, and agreed on June 22, 2018 to do the same in Deason I. On June 14, 2018, Fujifilm filed answers in Deason I and the putative class case, along with cross-claims against the members of the Xerox Board (as constituted before May 13, 2018) and a third-party complaint against Xerox director Jonathan Christodoro, seeking contribution for any potential award against Fujifilm for aiding and abetting purported breaches of fiduciary duties. On June 19, 2018, the putative class plaintiffs filed a motion for preliminary approval of a stipulation of settlement that would resolve the claims asserted by the plaintiffs in the putative class case against all defendants, other than Fujifilm. Carmen Ribbe, the plaintiff in the below derivative action, and Fujifilm filed oppositions to the motion on July 10, 2018. On June 22, 2018, the Court entered an order denying a joint motion by the putative class plaintiffs and the settling defendants to dissolve the injunction in the putative class case as against the settling defendants, and entered an order denying Fujifilm’s motion to dissolve the injunctions in the putative class case and Deason I in their entirety. On July 16, 2018, the Court held a hearing concerning the putative class plaintiffs’ motion for preliminary approval of the settlement in the putative class case. The Court indicated that it was not inclined to consider motions for approval of the settlement prior to considering whether the putative class should be certified. On August 2, 2018, the Appellate Division entered orders recognizing the Xerox defendants’ withdrawal of their appeal in the Deason cases and denying all appellants’ motions to stay pending determination of appeals in the Deason and putative class cases. On August 2, 2018, the Appellate Division entered orders (i) at their request, deeming withdrawn the Xerox defendants’ appeal and motion to stay in the Deason cases; (ii) upon their request, deeming withdrawn the Xerox defendants’ motion to stay, pending determination of appeal, the putative class case; and (iii) denying Fujifilm’s motion to stay pending determination of its appeals in the Deason and putative case cases. On September 21, 2018, putative class plaintiffs filed a motion for certification of a settlement class and a motion to transmit notice of the proposed settlement to the proposed class. On October 17, 2018, derivative plaintiff Carmen Ribbe and Fujifilm filed oppositions to the putative class plaintiffs’ motion to transmit notice to the proposed class. The class has not yet been certified, and preliminary approval has not been granted. The Appellate Division heard oral argument on September 25, 2018 on Fujifilm’s appeal of the Court’s decision. On October 16, 2018, the Appellate Division entered a decision and order reversing the Court’s rulings, ordering that the claims brought against Fujifilm in the cases by Mr. Deason and the purported class be dismissed, and further ordering that the preliminary injunction of the proposed Fuji Transaction be dissolved (the “Appellate Decision and Order”). On November 15, 2018, the putative class plaintiffs filed with the Appellate Division a motion seeking the opportunity to reargue Fujifilm’s appeal or, in the alternative, for leave to appeal the Appellate Decision and Order to the New York State Court of Appeals. On December 6, 2018, pursuant to the Appellate Decision and Order, the Court entered a judgment dismissing the complaints against Fujifilm in Deason I and the putative class case. The Court further issued orders denying the putative class plaintiffs’ motion for class certification, without prejudice to renewing the motion after the outcome of any appeals of the Appellate Decision and Order. On January 8, 2019, the Court entered an order staying all further proceedings in Deason I and the putative class case until thirty days after exhaustion of appeals, including any appeals to the New York State Court of Appeals, of the Appellate Decision and Order. On January 9, 2019, the Court entered an order denying the putative class plaintiffs’ motion to transmit notice to the proposed class, without prejudice to renewal of their motion at a later time. On October 31, 2018 and January 3, 2019, respectively, Xerox and the Xerox director defendants in the putative class case filed with the Appellate Division a request and motion seeking an extension, until after any decision regarding approval of settlement of the putative class action, of the deadline by which to perfect their appeal of the Court’s April 27, 2018 decision and order. On May 16, 2019, the Appellate Division entered an order granting the motion and extended the deadline until the October 2019 Term. On February 21, 2019, the Appellate Division issued an order denying the putative class plaintiffs’ motion seeking to reargue Fujifilm’s appeal or, in the alternative, for leave to appeal the Appellate Decision and Order to the New York State Court of Appeals. No further notice of appeal was filed, and the Appellate Decision and Order became final and unappealable on March 26, 2019. On May 3, 2019, putative class plaintiffs filed a renewed motion for approval of the form of a notice to putative class members. On May 6, 2019, putative class plaintiffs filed a renewed motion for class certification and notice of motion to approve class settlement and proposed final approval order. On May 24, 2019, the Court entered an order approving the form notice and proposed manner of its dissemination. On June 6, 2019, the Court entered an order pursuant to which plaintiffs submitted their motion to approve attorneys’ fees and expenses on July 19, 2019; requiring filing of any objections to or opt-outs from the proposed putative class settlement by August 9, 2019; and setting September 6, 2019 for its hearing on putative class plaintiffs’ motion for class certification and settlement approval. Xerox will vigorously defend these lawsuits to the extent that the proceedings continue as to Xerox. At this time, however, it is premature to make any conclusion regarding the probability of incurring material losses in these lawsuits. Should developments cause a change in our determination as to an unfavorable outcome, or result in a final adverse judgment or settlement, 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. 2. Ribbe v. Jacobson, et al.: On April 11, 2019, Carmen Ribbe filed a putative derivative and class action stockholder complaint in the Supreme Court of the State of New York for New York County, naming as defendants Xerox, current Board members Gregory Q. Brown, Joseph J. Echevarria, Cheryl Gordon Krongard, Sara Martinez Tucker, Keith Cozza, Giovanni G. Visentin, Jonathan Christodoro, Nicholas Graziano, and A. Scott Letier, and former Board members Jeffrey Jacobson, William Curt Hunter, Robert J. Keegan, Charles Prince, Ann N. Reese, and Stephen H. Rusckowski. Plaintiff previously filed a putative shareholder derivative lawsuit on May 24, 2018 against certain of these defendants, as well as others, in the same court; that lawsuit was dismissed without prejudice on December 6, 2018. The new complaint includes putative derivative claims on behalf of Xerox for breach of fiduciary duty against the members of the Xerox Board who approved Xerox’s entry into agreements to settle the Deason and In re Xerox Corporation Consolidated Shareholder Litigation (“XCCSL”) actions (described above). Plaintiff alleges that the settlements ceded control of the Board and the Company to Darwin Deason and Carl C. Icahn without a vote by, or compensation to, other Xerox stockholders; improperly provided certain benefits and releases to the resigning and continuing directors; and subjected Xerox to potential breach of contract damages in an action by Fuji relating to Xerox’s termination of the proposed Fuji Transaction. Plaintiff also alleges that the current Board members breached their fiduciary duties by allegedly rejecting plaintiff’s January 14, 2019 shareholder demand on the Board to remedy harms arising from entry into the Deason and XCCSL settlements. The new complaint further includes direct claims for breach of fiduciary duty on behalf of a putative class of current Xerox stockholders other than Mr. Deason, Mr. Icahn, and their affiliated entities (the “Ribbe Class”) against the defendants for causing Xerox to enter into the Deason and XCCSL settlements, which plaintiff alleges perpetuated control of Xerox by Mr. Icahn and Mr. Deason and denied the voting franchise of Xerox shareholders. Among other things, plaintiff seeks damages in an unspecified amount for the alleged fiduciary breaches in favor of Xerox against defendants jointly and severally; rescission or reformation of the Deason and XCCSL settlements; restitution of funds paid to the resigning directors under the Deason settlement; an injunction against defendants’ engaging in the alleged wrongful practices and equitable relief affording the putative Ribbe Class the ability to determine the composition of the Board; costs and attorneys’ fees; and other further relief as the Court may deem proper. Defendants accepted service of the complaint as of May 16, 2019. On June 4, 2019, the Court entered an order setting a briefing schedule for defendants’ motions to dismiss the complaint. On July 12, 2019, plaintiff filed a motion to preclude defendants from referencing in their motions to dismiss the formation of, or work by, the committee of the Board established to investigate plaintiff’s shareholder demand. On July 18, 2019, the Court denied plaintiff’s motion and adjourned sine die the deadline by which defendants must file any motions to dismiss the complaint. Xerox will vigorously defend against this matter. At this time, it is premature to make any conclusion regarding the probability of incurring material losses in this litigation. Should developments cause a change in our determination as to an unfavorable outcome, or result in a final adverse judgment or settlement, 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. 3. Fujifilm Holdings Corp. v. Xerox Corporation: On June 18, 2018, Fujifilm filed a complaint against Xerox in the U.S. District Court for the Southern District of New York, relating to the Fuji Transaction agreements. The complaint alleges that Xerox: (1) willfully breached the Fuji Transaction agreements by purporting to terminate them to appease Messrs. Icahn and Deason and using as a pretext issues with Fujifilm’s untimely submitted financials, and by settling Deason I and Deason II without notice to or consent by Fujifilm; (2) willfully breached the implied covenant of good faith and fair dealing by failing to support and use best efforts to conclude the Fuji Transaction, thus depriving Fujifilm of the benefit of its bargain; and (3) effected a change in Xerox’s recommendation regarding the Fuji Transaction, entitling Fujifilm to terminate the Fuji Transaction agreements and to receive from Xerox a $183 termination fee. Fujifilm seeks a judgment for damages to be determined at trial in an amount in excess of $1.0 billion plus punitive damages; a declaration regarding the alleged change in recommendation such that Fujifilm may terminate the transaction and Xerox must pay the $183 termination fee and other remedies; costs and attorneys’ fees; and other relief the court may deem appropriate. At a conference on September 24, 2018, the Court stayed all discovery pending resolution of Xerox’s motion to dismiss. Xerox filed its motion to dismiss on October 1, 2018. On February 22, 2019, following oral argument, the Court denied the motion to dismiss. On March 12, 2019, the Court entered a scheduling order setting various case deadlines. Xerox filed its answer denying the claims on March 15, 2019. Discovery has commenced and is ongoing. On June 24, 2019, the Court entered a stipulated revised scheduling order extending certain case deadlines. Xerox believes the lawsuit is meritless and will vigorously defend it. At this time, however, it is premature to make any conclusion regarding the probability of incurring material losses in this litigation. Should developments cause a change in our determination as to an unfavorable outcome, or result in a final adverse judgment or settlement, 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. All Other Pending Litigation: 1. 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 alleged that Xerox Corporation, Xerox State Healthcare, LLC and ACS State Healthcare (collectively “the Defendants”) violated the Texas Medicaid Fraud Prevention Act in the administration of ACS State Healthcare’s contract with the Texas Department of Health and Human Services (“HHSC”). Xerox Corporation provided a guaranty of contractual performance with respect to the ACS State Healthcare contract. The State alleged that the Defendants made false representations of material facts regarding the processes, procedures, implementation and results regarding the prior authorization of orthodontic claims. The State sought recovery of actual damages, two times the amount of any overpayments made as a result of alleged unlawful acts, civil penalties, pre- and post-judgment interest and all costs and attorneys’ fees. The State referenced the amount in controversy as exceeding hundreds of millions of dollars. The Defendants filed their Answer in June 2014 denying all allegations. In August 2017, the State of Texas filed a Second Amended Petition, which made substantially similar allegations and sought similar remedies as the original lawsuit. On October 23, 2017, Xerox Corporation filed a Motion for Summary Judgment seeking judgment in Xerox's favor on all claims against it. On July 2, 2018, the Court denied the State of Texas’ motion for a determination of the adequacy of its pleadings as to Xerox or in the alternative, seeking leave to amend its petition to bring additional claims against Xerox. On February 15, 2019, The State filed, without opposition, its Third Amended Petition against Conduent Business Services, LLC (f/k/a Xerox Business Services, LLC), Conduent State Healthcare, LLC (f/k/a Xerox State Healthcare, LLC, f/k/a ACS State Healthcare, LLC) and Conduent Incorporated (collectively, the “Conduent Entities”) and Xerox Corporation to add claims for breach of contract and negligence. On February 18, 2019, Xerox and the Conduent Entities entered into a Settlement Agreement and Release (“Agreement”) with the State and the HHSC to settle all claims arising from alleged failures by the defendants or Texas Medicaid & Healthcare Partnership to comply with obligations under two contracts between Conduent State Healthcare, LLC and the HHSC entered into in 2003 and 2010. Xerox is not required to make any payment under the Agreement. Pursuant to the terms of the Agreement, the Conduent Entities will pay the State $235.9 payable in installments through no later than July 31, 2021. Also pursuant to the Agreement, all proceedings in the lawsuit are suspended, as confirmed by an order issued by the Court on February 19, 2019, and the State and the HHSC will dismiss the lawsuit with prejudice and release all of the defendants from all of the State’s claims after the settlement amount has been paid in full. No defendant made any admission of liability or wrongdoing in entering into the Agreement. At Conduent’s request, the parties executed an amendment to the Agreement providing for accelerated payment terms and for one or more Conduent letters of credit to facilitate earlier dismissal of the case. This matter is a “Conduent Liability”, as defined in the Separation and Distribution Agreement dated as of December 31, 2016 between Xerox Corporation and Conduent Incorporated, for which Conduent is required to indemnify Xerox. Conduent is entitled to direct the defense of this matter. 2. Oklahoma Firefighters Pension and Retirement System v. Xerox Corporation, Ursula M. Burns, Luca Maestri, Kathryn A. Mikells, Lynn R. Blodgett, Robert K. Zapfel, David H. Bywater and Mary Scanlon: On October 21, 2016, the Oklahoma Firefighters Pension and Retirement System (“plaintiff”) filed a purported securities class action complaint against Xerox Corporation, Ursula Burns, Luca Maestri, Kathryn Mikells, Lynn Blodgett and Robert Zapfel (collectively, “defendants”) in the U.S. District Court for the Southern District of New York on behalf of the plaintiff and certain purchasers or acquirers of Xerox common stock. The complaint alleged that defendants made false and misleading statements, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act and SEC Rule 10b-5, relating to the operations and prospects of Xerox’s Health Enterprise business. Plaintiff sought, among other things, unspecified monetary damages and attorneys’ fees. Other, similar lawsuits may follow. On December 28, 2016, the Court entered a stipulated order setting out a schedule for amendment of the complaint and for defendants’ response to that complaint following the Court’s appointment of lead plaintiff under the Private Securities Litigation Reform Act. On February 28, 2017, the Court issued an opinion and order appointing the Arkansas Public Employees Retirement System ("APERS") as lead plaintiff. On May 1, 2017, APERS filed an amended complaint, alleging substantially similar claims and seeking substantially similar relief, but adding David Bywater and Mary Scanlon as defendants. On June 30, 2017, defendants moved to dismiss the amended complaint, and the motions were fully briefed on October 13, 2017. On March 20, 2018, the Court entered an opinion and order granting the motions, and on March 23, 2018, the Court entered a judgment of dismissal and closed the case. On April 20, 2018, plaintiffs filed a notice of appeal in the U.S. Court of Appeals for the Second Circuit, and the appeal was fully briefed as of November 28, 2018. The Second Circuit heard oral argument on May 31, 2019. On June 6, 2019, the Second Circuit entered a summary order affirming the district court’s judgment dismissing the complaint. Guarantees We have issued or provided approximately $314 of guarantees as of June 30, 2019 in the form of letters of credit or surety bonds issued to i) support certain insurance programs; ii) support our obligations related to the Brazil contingencies; and iii) support certain contracts, primarily with public sector customers, which 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 we defaulted in performing 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. 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.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Accounting Standard Updates to be Adopted and Accounting Standard Updates Adopted	Accounting Standard Updates to be Adopted: Financial Instruments - Credit Losses In June 2016, the FASB issued ASU 2016-13 , Financial Instruments Credit Losses - Measurement of Credit Losses on Financial Instruments, with additional updates being issued in 2018 and 2019. This update 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. We are currently evaluating the impact of the adoption of ASU 2016-13 on our Condensed Consolidated Financial Statements. Intangibles - Internal-Use Software In August 2018, the FASB issued ASU 2018-15 , Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40), Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. This update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The update provides criteria for determining which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The capitalized implementation costs are required to be expensed over the term of the hosting arrangement. The update also clarifies the presentation requirements for reporting such costs in the entity’s financial statements. This update is effective for our fiscal year beginning January 1, 2020. We are currently evaluating the impact of the adoption of ASU 2018-15 on our Condensed Consolidated Financial Statements. Accounting Standard Updates Adopted in 2019: Leases On January 1, 2019, we adopted ASU 2016-02 , Leases (ASC Topic 842). This update, as well as additional amendments and targeted improvements issued in 2018 and early 2019, supersedes existing lease accounting guidance found under ASC 840, Leases (“ASC 840”) and requires the recognition of right-to-use assets and lease obligations by lessees for those leases originally classified as operating leases under prior lease guidance. Effective with the adoption, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. Short term leases with a term of 12 months or less are not required to be recognized. The update also requires qualitative and quantitative disclosure of key information regarding the amount, timing and uncertainty of cash flows arising from leasing arrangements to increase transparency and comparability among companies. The accounting for lessors does not fundamentally change with this update except for changes to conform and align guidance to the lessee guidance, as well as to the revenue recognition guidance in ASU 2014-09. Some of these conforming changes, such as those related to the definition of lease term and minimum lease payments, resulted in certain lease arrangements, that would have been previously accounted for as operating leases, to be classified and accounted for as sales-type leases with a corresponding up-front recognition of equipment sales revenue. Upon adoption we applied the transition option, whereby prior comparative periods are not retrospectively presented in the Condensed Consolidated Financial Statements. We also elected the package of practical expedients not to reassess prior conclusions related to contracts containing leases, lease classification and initial direct costs and the lessee practical expedient to combine lease and non-lease components for certain asset classes (real estate lease arrangements for offices and warehouses). Additionally, we made a policy election to not recognize right-of-use assets and lease liabilities for short-term leases for all asset classes. We elected the package of practical expedients from both the Lessee and Lessor prospective, to the extent applicable. Lessee accounting - the adoption of this update resulted in an increase to assets and related liabilities of approximately $385 (approximately $440 undiscounted) primarily related to leases of facilities. Lessor accounting - the adoption of this update resulted in an increase to equipment sales of approximately $11 in 2019 as compared to 2018. Refer to Note 3 - Adoption of New Leasing Standard - Xerox as a Lessee and Note 4 - Adoption of New Leasing Standard - Xerox as a Lessor for additional transitional disclosures related to the adoption of this standard. Financial Instruments - Derivatives In August 2017, the FASB issued ASU 2017-12 , Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The amendments in this update expand and refine hedge accounting for both financial and non-financial risk components, align the recognition and presentation of the effects of hedging instruments with the same income statement line item that the hedged item is reported and include certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. We adopted ASU 2017-12 effective for our fiscal year beginning January 1, 2019, and it did not have a material impact on our financial condition, results of operations or cash flows. Income Taxes In February 2018, the FASB issued ASU 2018-02 , Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . We adopted ASU 2018-02 effective for our fiscal year beginning January 1, 2019 and upon adoption reclassified $127 from Accumulated other comprehensive loss (AOCL) to Retained earnings related to the stranded tax effects resulting from the Tax Cuts and Jobs Act ("Tax Act") enacted in December 2017. The reclassification was primarily related to the stranded tax effects associated with amounts in AOCL from our retirement-related benefit plans. Accordingly, the adoption of this update eliminated the stranded tax effects resulting from the Tax Act. However, because the update only relates to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in Income from continuing operations is not affected. Other Updates In 2018 , the FASB also issued the following Accounting Standards Updates, which did not have or are not expected to have a material impact on our financial condition, results of operations or cash flows upon adoption. Those updates are as follows: • Collaborative Arrangements: ASU 2018-18 , (Topic 808) Clarifying the Interaction between Topic 808 and Topic 606. This update is effective for our fiscal year beginning January 1, 2020. • Compensation - Retirement Benefits - Defined Benefit Plans - General: ASU 2018-14 , (Topic 715-20) Changes to the Disclosure Requirements for Defined Benefit Plans. This update is effective for our fiscal year beginning January 1, 2020. • Fair Value Measurement: ASU 2018-13 , (Topic 820) Disclosure Framework. This update is effective for our fiscal year beginning January 1, 2020. • Investments - Debt Securities and Regulated Operations: ASU 2018-04
Lessee, Leases	Lessee Summary: We determine at inception whether an arrangement is a lease. Our leases do not include assets of a specialized nature, or the transfer of ownership at the end of the lease, and the exercise of end-of-lease purchase options, which are primarily in our equipment leases, is not reasonably assured at lease inception. Accordingly, the two primary criteria we use to classify transactions as operating or finance leases are: (i) a review of the lease term to determine if it is equal to or greater than 75% of the economic life of the asset, and (ii) a review of the present value of the minimum lease payments to determine if they are equal to or greater than 90% of the fair market value of the asset at the inception of the lease. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. We also assess arrangements for goods or services to determine if the arrangement contains a lease at its inception. This assessment first considers whether there is an implicitly or explicitly identified asset in the arrangement and then whether there is a right to control the use of the asset. If there is an embedded lease within a contract, the company determines the classification of the lease at the lease inception date consistent with standalone leases of assets. Operating leases are included in Other long-term assets, Accrued expenses and other current liabilities, and Other long-term liabilities in our Condensed Consolidated Balance Sheets. Finance leases are included in Land, buildings and equipment, net, Accrued expenses and other current liabilities, and Other long-term liabilities in our Condensed Consolidated Balance Sheets. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since the implicit rate for most of our leases is not readily determinable, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that we would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. The rate is dependent on several factors, including the lease term and currency of the lease payments. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as we do not have reasonable certainty at lease inception that these options will be exercised. We generally consider the economic life of our operating lease ROU assets to be comparable to the useful life of similar owned assets. We have elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Our leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components. These components are accounted for separately for vehicle and equipment leases. We account for the lease and non-lease components as a single lease component for real estate leases of offices and warehouses. We review the impairment of our ROU assets consistent with the approach applied for our other long-lived assets. We review the recoverability of our long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. We have elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows. Operating Leases We have operating leases for real estate and vehicles in our domestic and international operations and for certain equipment in our domestic operations. Additionally, we have identified embedded operating leases within certain supply chain contracts for warehouses, primarily within our domestic operations. Our leases have remaining terms of up to ten years
Revenue Recognition, Leases	Lessor Summary: The following represent updated disclosures to our Revenue Recognition policies as a result of the adoption of ASC Topic 842. Bundled Lease Arrangements: A portion of our direct sales of equipment to end customers are made through bundled lease arrangements which typically include equipment, services (maintenance and managed services) and financing components where the customer pays a single negotiated fixed minimum monthly payment for all elements over the contractual lease term. These arrangements also typically include an incremental, variable component for page volumes in excess of the contractual page volume minimums, which are often expressed in terms of price-per-image or page. Revenues under these bundled lease arrangements are allocated considering the relative standalone selling prices of the lease and non-lease deliverables included in the bundled arrangement. Lease deliverables include the equipment and financing, while the non-lease deliverables generally consist of the services, which include supplies. Consistent with the guidance in ASC 842 and ASC 606, regarding the allocation of fixed and variable consideration, we only consider the fixed payments for purposes of allocation to the lease elements of the contract. The fixed minimum monthly payments are multiplied by the number of months in the contract term to arrive at the total fixed lease payments that the customer is obligated to make over the lease term. Amounts allocated to the equipment and financing elements are then subjected to the accounting estimates noted below under Leases to ensure the values reflect standalone selling prices. The remainder of any fixed payments, as well as the variable payments, are allocated to non-lease elements because the variable consideration for incremental page volume or usage is considered attributable to the delivery of those elements. The consideration for the non-lease elements is not dependent on the consideration for equipment and vice versa and the consideration for the equipment and services is priced at the appropriate standalone values; therefore, the relative standalone selling price allocation method is not necessary. The revenue associated with the non-lease elements are normally accounted for as a single performance obligation being delivered in a series with delivery being measured as the usage billed to the customer. Accordingly, revenue from these agreements is recognized in a manner consistent with the guidance for Maintenance and Services agreements. Leases: The two primary accounting provisions we use to classify transactions as sales-type or operating leases are: (i) a review of the lease term to determine if it is for the major part of the economic life of the underlying equipment (defined as greater than 75% ); and (ii) a review of the present value of the lease payments to determine if they are equal to or greater than substantially all of the fair market value of the equipment at the inception of the lease (defined as greater than 90% ). Equipment placements included in arrangements meeting these conditions are accounted for as sales-type leases and revenue is recognized in a manner consistent with Equipment. Equipment placements included in arrangements that do not meet these conditions are accounted for as operating leases and revenue is recognized over the term of the lease. We consider the economic life of most of our products to be five years , since this represents the most frequent contractual lease term for our principal products and only a small percentage of our leases are for original terms longer than five years . There is no significant after-market for our used equipment. We believe five years is representative of the period during which the equipment is expected to be economically usable, with normal service, for the purpose for which it is intended. We perform an analysis of the stand-alone selling price of equipment based on cash selling prices during the applicable period. The cash selling prices are compared to the range of values determined for our leases. The range of cash selling prices must be reasonably consistent with the lease selling prices in order for us to determine that such lease prices reflects stand-alone value. Our lease pricing interest rates, which are used in determining customer payments in a bundled lease arrangement, are developed based upon a variety of factors including local prevailing rates in the marketplace and the customer’s credit history, industry and credit class. We reassess our pricing interest rates quarterly based on changes in the local prevailing rates in the marketplace. The pricing interest rates generally equal the implicit rates within the leases, as corroborated by our comparisons of cash to lease selling prices noted above. Additional Lease Payments: Certain leases may require the customer to pay property taxes and insurance on the equipment. In these instances, the amounts for property taxes and insurance that we invoice to customers and pay to third parties are considered variable payments and are recorded as other revenues and other cost of revenues, respectively. Amounts related to property taxes and insurance are not material. We exclude from variable payments all lessor costs that are explicitly required to be paid directly by a lessee on behalf of the lessor to a third party. Presentation: Revenue from sales-type leases is presented on a gross basis when the company enters into a lease to realize value from a product that it would otherwise sell in its ordinary course of business, whereas in transactions where the company enters into a lease for the purpose of generating revenue by providing financing, the profit or loss, if any, is presented on a net basis. In addition, we have elected to account for sales tax and other similar taxes collected from a lessee as lessee costs and therefore we exclude these costs from contract consideration and variable consideration and present revenue net of these costs.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Change in Presentation	Prior year amounts were also revised as follows to conform to the 2019 presentation. Three Months Ended June 30, 2018 As Reported Change As Revised Sales $ 1,017 $ (90 ) $ 927 Services, maintenance and rentals 1,425 90 1,515 Cost of sales $ 622 $ (29 ) $ 593 Cost of services, maintenance and rentals 854 29 883 Six Months Ended June 30, 2018 As Reported Change As Revised Sales $ 1,950 $ (178 ) $ 1,772 Services, maintenance and rentals 2,856 178 3,034 Cost of sales $ 1,185 $ (60 ) $ 1,125 Cost of services, maintenance and rentals 1,722 60 1,782

Adoption of New Leasing Stand_3

Adoption of New Leasing Standard - Xerox as a Lessee (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense are as follows: Three Months Ended Six Months Ended June 30, 2019 Operating lease expense $ 33 $ 66 Short-term lease expense 5 10 Variable lease expense (1) 12 25 Sublease income (1 ) (1 ) Total Lease expense $ 49 $ 100 _____________ (1) Variable lease expense is related to our leased real estate for offices and warehouses and primarily includes labor and operational costs as well as taxes and insurance.
Schedule of operating leases assets and liabilities	Operating leases ROU assets, net and operating lease liabilities were reported in the Condensed Consolidated Balance Sheets as follows: June 30, Other long-term assets $ 319 Accrued expenses and other current liabilities $ 92 Other long-term liabilities 254 Total Operating lease liabilities $ 346
Schedule of supplemental information related to operating leases	Supplemental information related to operating leases is as follows: Three Months Ended Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows $ 32 $ 64 Right-of-use assets obtained in exchange for new lease liabilities (1) $ 14 $ 23 Weighted-average remaining lease term 4 years Weighted-average discount rate 5.63 % _____________ (1) Includes the impact of new leases as well as remeasurements and modifications to existing leases.
Schedule of maturities and additional information related to operating lease liabilities	Maturities and additional information related to operating lease liabilities are as follows: June 30, 2019 (1) $ 61 2020 103 2021 80 2022 66 2023 49 Thereafter 36 Total Lease payments 395 Less: Imputed interest 49 Total Operating lease liabilities $ 346 _____________ (1) Represents the future minimum operating lease payments expected to be made over the remaining balance of the year.
Schedule of future minimum rental payments for operating leases	Future minimum operating lease commitments that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 were as follows: December 31, 2019 $ 114 2020 88 2021 64 2022 50 2023 36 Thereafter 27 Total Operating lease commitments $ 379

Adoption of New Leasing Stand_4

Adoption of New Leasing Standard - Xerox as a Lessor (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of lease income	The components of lease income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lease income - sales type $ 150 $ 172 $ 284 $ 332 Interest income on lease receivables 61 68 124 139 Lease income - operating leases (1) 100 109 204 222 Variable lease income 28 31 55 61 Total Lease income $ 339 $ 380 $ 667 $ 754 _____________ (1) Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28
Components of lease income	The components of lease income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lease income - sales type $ 150 $ 172 $ 284 $ 332 Interest income on lease receivables 61 68 124 139 Lease income - operating leases (1) 100 109 204 222 Variable lease income 28 31 55 61 Total Lease income $ 339 $ 380 $ 667 $ 754 _____________ (1) Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28
Components of lease income	The components of lease income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lease income - sales type $ 150 $ 172 $ 284 $ 332 Interest income on lease receivables 61 68 124 139 Lease income - operating leases (1) 100 109 204 222 Variable lease income 28 31 55 61 Total Lease income $ 339 $ 380 $ 667 $ 754 _____________ (1) Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues Disaggregated by Primary Geographic Markets, Major Products Lines, and Sales Channels	Revenues disaggregated by primary geographic markets, major product lines, and sales channels are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Primary geographical markets (1) : United States $ 1,370 $ 1,479 $ 2,664 $ 2,893 Europe 584 660 1,184 1,336 Canada 130 147 254 291 Other 205 224 393 425 Total Revenues $ 2,289 $ 2,510 $ 4,495 $ 4,945 Major product and services lines: Equipment $ 504 $ 561 $ 952 $ 1,060 Supplies, paper and other sales 321 366 623 712 Maintenance agreements (2) 609 671 1,207 1,340 Service arrangements (3) 637 676 1,272 1,358 Rental and other 157 168 317 336 Financing 61 68 124 139 Total Revenues (4) $ 2,289 $ 2,510 $ 4,495 $ 4,945 Sales channels: Direct equipment lease (5) $ 150 $ 172 $ 284 $ 332 Distributors & resellers (6) 333 357 648 701 Customer direct 342 398 643 739 Total Sales (4) $ 825 $ 927 $ 1,575 $ 1,772 _____________ (1) Geographic area data is based upon the location of the subsidiary reporting the revenue. (2) Includes revenues from maintenance agreements on sold equipment as well as revenues associated with service agreements sold through our channel partners as Xerox Partner Print Services (XPPS). (3) Primarily includes revenues from our Managed Services offerings (formerly our Managed Document Services arrangements). Also includes revenues from embedded operating leases, which were not significant. (4) Certain prior year amounts have been revised to conform to the current year presentation. Refer to Note 1 - Basis of Presentation - Change in Presentation, for additional information. (5) Primarily reflects direct sales through bundled lease arrangements. (6) Primarily reflects sales through our two-tier distribution channels.
Incremental Direct Costs of Obtaining a Contract	Incremental direct costs are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Incremental direct costs of obtaining a contract $ 18 $ 23 $ 36 $ 40 Amortization of incremental direct costs 20 23 43 47

Supplementary Financial Infor_2

Supplementary Financial Information (Tables)	6 Months Ended
	Jun. 30, 2019
Supplemental Financial Information [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash amounts were as follows: June 30, December 31, Cash and cash equivalents $ 712 $ 1,084 Restricted cash Litigation deposits in Brazil 64 61 Other restricted cash — 3 Total Restricted cash 64 64 Cash, cash equivalents and restricted cash $ 776 $ 1,148
Cash, Cash Equivalents and Restricted Cash	Cash, cash equivalents and restricted cash amounts were as follows: June 30, December 31, Cash and cash equivalents $ 712 $ 1,084 Restricted cash Litigation deposits in Brazil 64 61 Other restricted cash — 3 Total Restricted cash 64 64 Cash, cash equivalents and restricted cash $ 776 $ 1,148
Restricted Cash Balance Sheet Location	Restricted cash was reported in the Condensed Consolidated Balance Sheets as follows: June 30, December 31, Other current assets $ — $ 1 Other long-term assets 64 63 Total Restricted cash $ 64 $ 64
Supplemental Cash Flow Information	Supplemental Cash Flow Information Summarized cash flow information is as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Provision for receivables $ 13 $ 13 $ 27 $ 26 Provision for inventory 7 10 15 14 Provision for product warranty 3 3 7 7 Depreciation of buildings and equipment 26 44 53 88 Depreciation and obsolescence of equipment on operating leases 57 63 116 127 Amortization of internal use software 16 19 33 37 Amortization of acquired intangible assets 11 12 26 24 Amortization of customer contract costs (1) 22 25 46 50 Cost of additions to land, buildings and equipment 10 17 19 26 Cost of additions to internal use software 6 15 12 24 Common stock dividends 57 64 115 128 Preferred stock dividends 3 4 7 7 Payments to noncontrolling interests 12 1 13 13 Repurchases related to stock-based compensation 9 1 10 2 _____________ (1) Amortization of customer contract costs are reported in Decrease in other current and long-term assets in the Condensed Consolidated Statements of Cash Flows. Refer to Note 5 - Revenue for additional information on contract costs.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule of accounts receivable, net	Accounts receivable, net were as follows: June 30, December 31, Invoiced $ 992 $ 999 Accrued 320 333 Allowance for doubtful accounts (56 ) (56 ) Accounts receivable, net $ 1,256 $ 1,276
Schedule of accounts receivables sales	Accounts receivable sales were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Accounts receivable sales (1) $ 110 $ 128 $ 198 $ 231 Loss on sales of accounts receivable — — 1 1 __________________________ (1) Customers may also enter into structured-payable arrangements that require us to sell our receivables from that customer to a third-party financial institution, which then makes payments to us to settle the customer's receivable. In these instances, we ensure the sale of the receivables are bankruptcy-remote and the payment made to us is without recourse. The activity associated with these arrangements is not reflected in this disclosure, as payments under these arrangements have not been material and these are customer directed arrangements.

Finance Receivables, Net (Table

Finance Receivables, Net (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Finance Receivables	Finance receivables, net were as follows: June 30, December 31, Gross receivables $ 3,860 $ 4,003 Unearned income (418 ) (439 ) Subtotal 3,442 3,564 Residual values — — Allowance for doubtful accounts (93 ) (92 ) Finance receivables, net 3,349 3,472 Less: Billed portion of finance receivables, net 108 105 Less: Current portion of finance receivables not billed, net 1,177 1,218 Finance receivables due after one year, net $ 2,064 $ 2,149
Schedule of Financing Receivables, Minimum Payments	A summary of future contractual maturities of our gross finance receivables, including those previously billed is as follows: June 30, December 31, 12 Months (1) $ 1,514 $ 1,543 24 Months 1,057 1,108 36 Months 715 755 48 Months 405 425 60 Months 151 158 Thereafter 18 14 Total $ 3,860 $ 4,003 __________________ (1) Includes amounts previously billed of $112 and $107 as of June 30, 2019 and December 31, 2018 , respectively.
Allowance for Credit Losses on Financing Receivables	The allowance for doubtful finance receivables as well as the related investment in finance receivables were as follows: Allowance for Credit Losses: United States Canada Europe Other (1) Total Balance at December 31, 2018 $ 53 $ 12 $ 25 $ 2 $ 92 Provision 4 1 4 — 9 Charge-offs (4 ) (1 ) (3 ) — (8 ) Recoveries and other (2) — — — — — Balance at March 31, 2019 $ 53 $ 12 $ 26 $ 2 $ 93 Provision 4 1 3 — 8 Charge-offs (5 ) (3 ) (3 ) — (11 ) Recoveries and other (2) 1 2 — — 3 Balance at June 30, 2019 $ 53 $ 12 $ 26 $ 2 $ 93 Finance receivables as of June 30, 2019 collectively evaluated for impairment (3) $ 1,885 $ 329 $ 1,185 $ 43 $ 3,442 Balance at December 31, 2017 $ 56 $ 15 $ 35 $ 2 $ 108 Provision 5 — 4 — 9 Charge-offs (5 ) (1 ) (4 ) — (10 ) Recoveries and other (2) — — 1 — 1 Balance at March 31, 2018 $ 56 $ 14 $ 36 $ 2 $ 108 Provision 4 1 4 — 9 Charge-offs (4 ) (1 ) (3 ) — (8 ) Recoveries and other (2) — — (2 ) — (2 ) Balance at June 30, 2018 $ 56 $ 14 $ 35 $ 2 $ 107 Finance receivables as of June 30, 2018 collectively evaluated for impairment (3)(4) $ 1,973 $ 356 $ 1,256 $ 45 $ 3,630 __________________ (1) Includes developing market countries and smaller units. (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 $93 and $107 at June 30, 2019 and 2018 , respectively. (4) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation.
Financing Receivable Credit Quality Indicators	Details about our finance receivables portfolio based on industry and credit quality indicators are as follows: June 30, 2019 December 31, 2018 Investment Grade Non-investment Grade Substandard Total Finance Receivables Investment Grade Non-investment Grade Substandard Total Finance Receivables Finance and other services $ 168 $ 336 $ 93 $ 597 $ 177 $ 334 $ 88 $ 599 Government and education 424 58 18 500 453 63 9 525 Graphic arts 72 121 86 279 82 131 87 300 Industrial 81 83 18 182 86 82 16 184 Healthcare 57 62 17 136 86 48 9 143 Other 57 102 32 191 63 90 42 195 Total United States (1) 859 762 264 1,885 947 748 251 1,946 Finance and other services 59 32 18 109 52 33 20 105 Government and education 37 4 3 44 38 3 4 45 Graphic arts 21 26 27 74 22 30 26 78 Industrial 18 11 11 40 16 12 9 37 Other 30 19 13 62 34 21 15 70 Total Canada 165 92 72 329 162 99 74 335 France 212 149 26 387 232 157 29 418 U.K./Ireland 146 81 6 233 150 87 7 244 Central (2) 182 121 9 312 196 123 8 327 Southern (3) 58 135 13 206 52 136 17 205 Nordics (4) 28 18 1 47 28 15 2 45 Total Europe (5) 626 504 55 1,185 658 518 63 1,239 Other (1) 29 13 1 43 31 13 — 44 Total $ 1,679 $ 1,371 $ 392 $ 3,442 $ 1,798 $ 1,378 $ 388 $ 3,564 _____________________________ (1) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. (2) Switzerland, Germany, Austria, Belgium and Holland. (3) Italy, Greece, Spain and Portugal. (4) Sweden, Norway, Denmark and Finland. (5) Prior year amounts have been recasted to conform to the 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, 2019 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 16 $ 4 $ 2 $ 22 $ 575 $ 597 $ 11 Government and education 17 3 3 23 477 500 21 Graphic arts 12 1 1 14 265 279 5 Industrial 6 2 1 9 173 182 6 Healthcare 4 2 1 7 129 136 4 Other 5 1 1 7 184 191 3 Total United States 60 13 9 82 1,803 1,885 50 Canada 9 2 1 12 317 329 21 France 5 — — 5 382 387 12 U.K./Ireland 2 — — 2 231 233 — Central (2) 2 1 1 4 308 312 3 Southern (3) 2 1 1 4 202 206 7 Nordics (4) — — — — 47 47 — Total Europe 11 2 2 15 1,170 1,185 22 Other 3 — — 3 40 43 — Total $ 83 $ 17 $ 12 $ 112 $ 3,330 $ 3,442 $ 93 December 31, 2018 Current 31-90 Days Past Due >90 Days Past Due Total Billed Unbilled Total Finance Receivables >90 Days and Accruing Finance and other services $ 15 $ 4 $ 2 $ 21 $ 578 $ 599 $ 11 Government and education 17 4 3 24 501 525 24 Graphic arts 10 1 1 12 288 300 5 Industrial 5 2 1 8 176 184 5 Healthcare 4 2 1 7 136 143 5 Other 5 2 1 8 187 195 4 Total United States (1) 56 15 9 80 1,866 1,946 54 Canada 7 2 1 10 325 335 22 France 5 — — 5 413 418 14 U.K./Ireland 2 — — 2 242 244 — Central (2) 1 1 1 3 324 327 6 Southern (3) 3 1 1 5 200 205 6 Nordics (4) — — — — 45 45 — Total Europe 11 2 2 15 1,224 1,239 26 Other (1) 2 — — 2 42 44 — Total $ 76 $ 19 $ 12 $ 107 $ 3,457 $ 3,564 $ 102 _____________________________ (1) As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation. (2) Switzerland, Germany, Austria, Belgium and Holland. (3) Italy, Greece, Spain and Portugal. (4) Sweden, Norway, Denmark and Finland.

Inventories and Equipment on _2

Inventories and Equipment on Operating Leases, Net (Tables)	6 Months Ended
	Jun. 30, 2019
Inventories and Equipment on Operating Leases, Net [Abstract]
Inventories	The following is a summary of Inventories by major category: June 30, December 31, Finished goods $ 659 $ 699 Work-in-process 55 49 Raw materials 74 70 Total Inventories $ 788 $ 818
Equipment on Operating Leases, Net	Equipment on operating leases and the related accumulated depreciation were as follows: June 30, December 31, Equipment on operating leases $ 1,495 $ 1,519 Accumulated depreciation (1,096 ) (1,077 ) Equipment on operating leases, net $ 399 $ 442
Lessor, Operating Lease, Payments to be Received, Maturity	Estimated minimum future revenues associated with Equipment on operating leases are as follows: June 30, December 31, 2019 (1) $ 128 $ 260 2020 216 178 2021 132 111 2022 73 61 2023 31 21 Thereafter 6 2 Total $ 586 $ 633 _____________ (1) 2019 amount represents the future minimum revenues expected to be earned over the remaining balance of the year.

Investment in Affiliates, at _2

Investment in Affiliates, at Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Schedule of equity in net income (loss) of unconsolidated affiliates	Our Equity in net income (loss) of unconsolidated affiliates was as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Fuji Xerox $ 32 $ 17 $ 75 $ (53 ) Other 2 2 4 4 Total Equity in net income (loss) of unconsolidated affiliates $ 34 $ 19 $ 79 $ (49 )
Schedule of financial information for Fuji Xerox	Summarized financial information for Fuji Xerox was as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Summary of Operations Revenues $ 2,145 $ 2,226 $ 4,606 $ 4,691 Costs and expenses 1,948 2,098 4,152 4,869 Income (Loss) before Income Taxes 197 128 454 (178 ) Income tax expense 65 50 150 11 Net Income (Loss) 132 78 304 (189 ) Less: Net income attributable to noncontrolling interests — 1 1 1 Net Income (Loss) – Fuji Xerox $ 132 $ 77 $ 303 $ (190 ) Weighted Average Exchange Rate (1) 109.80 109.05 110.08 108.54 _____________________________ (1) Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs (Tables)

Restructuring Programs (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Program Activity	Information related to restructuring program activity is outlined below: Severance and Related Costs Other Contractual Termination Costs (2) Asset Impairments (3) Total Balance at December 31, 2018 $ 94 $ 1 $ — $ 95 Provision 12 14 36 62 Reversals (8 ) — — (8 ) Net current period charges (1) 4 14 36 54 Charges against reserve and currency (32 ) (1 ) (36 ) (69 ) Balance at March 31, 2019 $ 66 $ 14 $ — $ 80 Provision 13 3 10 26 Reversals (6 ) — (2 ) (8 ) Net current period charges (1) 7 3 8 18 Charges against reserve and currency (17 ) (4 ) (8 ) (29 ) Balance at June 30, 2019 $ 56 $ 13 $ — $ 69 ____________________________ (1) Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairment charges. (2) Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs. (3) Primarily related to the exit and abandonment of leased and owned facilities. The charge includes the accelerated write-off of $34 for leased right-of-use asset balances and $12 for owned asset balances upon exit from the facility net of any potential sublease income or other recovery amounts .
Reconciliation to the Condensed Consolidated Statements Of Cash Flows	The following table summarizes the reconciliation to the Condensed Consolidated Statements of Cash Flows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Charges against reserve and currency $ (29 ) $ (40 ) $ (98 ) $ (92 ) Effects of foreign currency and other non-cash items 8 3 44 1 Restructuring cash payments $ (21 ) $ (37 ) $ (54 ) $ (91 )
Related Restructuring Costs	In connection with our restructuring programs, we also incurred certain related costs as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2019 Retention related severance/bonuses (1) $ 11 $ 20 Contractual severance costs (2) — 38 Consulting and other costs (3) 8 19 Total $ 19 $ 77 ____________________________ (1) Includes retention related severance and bonuses for employees expected to continue working beyond their minimum notification period before termination. (2) Reflects estimated severance costs we are contractually required to pay on employees transferred (approximately 2,200 ) as part of the shared service arrangement entered into with HCL Technologies. (3) Represents professional support services associated with our business transformation initiatives.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule Of Interest Expense And Income	Interest expense and income were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Interest expense (1) $ 59 $ 60 $ 118 $ 123 Interest income (2) 64 72 131 146 ____________ (1) Includes Cost of financing 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, 2019
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, 2019 : Debt Instrument Year First Designated Notional Amount Net Fair Value Weighted Average Interest Rate Paid Interest Rate Received Basis Maturity Senior Note 2021 2014 $ 200 $ 2 3.26 % 4.5 % Libor 2021
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, December 31, Derivatives Designated as Hedging Instruments Foreign exchange contracts - forwards Other current assets $ 6 $ 7 Accrued expenses and other current liabilities (1 ) — Foreign currency options Other current assets — 1 Interest rate swaps Other long-term assets 2 — Other long-term liabilities — (3 ) Net designated derivative asset $ 7 $ 5 Derivatives NOT Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 2 $ 7 Accrued expenses and other current liabilities (2 ) (1 ) Net undesignated derivative asset $ — $ 6 Summary of Derivatives Total Derivative assets $ 10 $ 15 Total Derivative liabilities (3 ) (4 ) Net Derivative asset $ 7 $ 11
Summary of Gains (Losses) on Derivative Instruments	The following table provides a summary of gains (losses) on derivative instruments: Three Months Ended Six Months Ended Gain (Loss) on Derivative Instruments 2019 2018 2019 2018 Fair Value Hedges - Interest Rate Contracts Derivative gain (loss) recognized in interest expense $ 3 $ (1 ) $ 5 $ (6 ) Hedged item (loss) gain recognized in interest expense (3 ) 1 (5 ) 6 Cash Flow Hedges - Foreign Exchange Forward Contracts and Options Derivative gain (loss) recognized in OCI (effective portion) $ 3 $ (2 ) $ 6 $ 10 Derivative gain (loss) reclassified from AOCL to income - Cost of sales (effective portion) 2 — 3 (12 )
Summary of Derivatives Not Designated as Hedging Instruments Gains (Losses)	The following table provides a summary of gains (losses) on non-designated derivative instruments: Derivatives NOT Designated as Hedging Instruments Three Months Ended Six Months Ended Location of Derivative Gain (Loss) 2019 2018 2019 2018 Foreign exchange contracts – forwards Other expense – Currency (loss) gain, net $ 6 $ 18 $ 1 $ 18

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
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, December 31, Assets Foreign exchange contracts - forwards $ 8 $ 14 Foreign currency options — 1 Interest rate swaps 2 — Deferred compensation investments in mutual funds 18 16 Total $ 28 $ 31 Liabilities Foreign exchange contracts - forwards $ 3 $ 1 Interest rate swaps — 3 Deferred compensation plan liabilities 17 16 Total $ 20 $ 20
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 were as follows: June 30, 2019 December 31, 2018 Carrying Amount Fair Value Carrying Amount Fair Value Cash and cash equivalents $ 712 $ 712 $ 1,084 $ 1,084 Accounts receivable, net 1,256 1,256 1,276 1,276 Short-term debt and current portion of long-term debt 866 870 961 966 Long-term debt 3,962 3,995 4,269 3,922

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
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: 2019 2018 2019 2018 2019 2018 Service cost $ 1 $ — $ 5 $ 7 $ 1 $ 1 Interest cost 28 34 38 38 4 7 Expected return on plan assets (25 ) (36 ) (58 ) (62 ) — — Recognized net actuarial loss (gain) 6 6 12 15 (1 ) — Amortization of prior service credit (1 ) (1 ) (1 ) (1 ) (19 ) (1 ) Recognized settlement loss 27 26 — — — — Defined benefit plans 36 29 (4 ) (3 ) (15 ) 7 Defined contribution plans (1) 5 10 6 7 n/a n/a Net Periodic Benefit Cost (Credit) 41 39 2 4 (15 ) 7 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (2) 21 12 — — — 10 Amortization of net actuarial (loss) benefit (33 ) (32 ) (12 ) (15 ) 1 — Amortization of prior service credit 1 1 1 1 19 1 Total Recognized in Other Comprehensive Income (Loss) (3) (11 ) (19 ) (11 ) (14 ) 20 11 Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) $ 30 $ 20 $ (9 ) $ (10 ) $ 5 $ 18 Six Months Ended June 30, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health Components of Net Periodic Benefit Costs: 2019 2018 2019 2018 2019 2018 Service cost $ 1 $ 1 $ 12 $ 13 $ 1 $ 2 Interest cost 58 67 77 77 8 13 Expected return on plan assets (51 ) (70 ) (118 ) (125 ) — — Recognized net actuarial loss (gain) 11 12 22 30 (2 ) — Amortization of prior service credit (1 ) (1 ) (1 ) (2 ) (38 ) (2 ) Recognized settlement loss 58 51 — — — — Defined benefit plans 76 60 (8 ) (7 ) (31 ) 13 Defined contribution plans (1) 13 19 12 14 n/a n/a Net Periodic Benefit Cost (Credit) 89 79 4 7 (31 ) 13 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (gain) (2) 36 (46 ) — — — 10 Amortization of net actuarial loss (69 ) (63 ) (22 ) (30 ) 2 — Amortization of prior service credit 1 1 1 2 38 2 Total Recognized in Other Comprehensive Income (Loss) (3) (32 ) (108 ) (21 ) (28 ) 40 12 Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) $ 57 $ (29 ) $ (17 ) $ (21 ) $ 9 $ 25 __________________________ (1) Prior year amounts have been revised to reflect additional cost for previously excluded plans. (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 1st plan census data. (3) Amounts represent the pre-tax effect included within Other Comprehensive Income. Refer to Note 19 - Other Comprehensive Income (Loss) for related tax effects and the after-tax amounts.
Defined Benefit and Retiree Health Pension Plans, actual and expected cash 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, 2019 2018 Estimated 2019 2018 U.S. plans $ 13 $ 14 $ 25 $ 27 Non-U.S. plans 57 61 110 117 Total Pension $ 70 $ 75 $ 135 $ 144 Retiree Health $ 16 $ 29 $ 35 $ 57

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	For information related to the Reorganization of Xerox and Xerox Holdings, refer to Note 1 - Basis of Presentation - Corporate Reorganization. The shareholders' equity information presented below reflects the activity of Xerox only. Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non-controlling Interests Total Equity Balance at March 31, 2019 $ 230 $ 3,282 $ (103 ) $ 5,270 $ (3,652 ) $ 5,027 $ 36 $ 5,063 Comprehensive income, net — — — 181 5 186 3 189 Cash dividends declared - common (3) — — — (57 ) — (57 ) — (57 ) Cash dividends declared - preferred (4) — — — (3 ) — (3 ) — (3 ) Stock option and incentive plans, net — 6 — — — 6 — 6 Payments to acquire treasury stock, including fees — — (197 ) — — (197 ) — (197 ) Cancellation of treasury stock (5 ) (164 ) 169 — — — — — Distributions to noncontrolling interests — — — — — — (9 ) (9 ) Balance at June 30, 2019 $ 225 $ 3,124 $ (131 ) $ 5,391 $ (3,647 ) $ 4,962 $ 30 $ 4,992 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non- controlling Interests Total Equity Balance at March 31, 2018 $ 255 $ 3,908 $ — $ 4,927 $ (3,537 ) $ 5,553 $ 29 $ 5,582 Cumulative effect of change in accounting principle — — — 3 — 3 — 3 Comprehensive income (loss), net — — — 112 (235 ) (123 ) 2 (121 ) Cash dividends declared - common (3) — — — (65 ) — (65 ) — (65 ) Cash dividends declared - preferred (4) — — — (3 ) — (3 ) — (3 ) Stock option and incentive plans, net — 12 — — — 12 — 12 Balance at June 30, 2018 $ 255 $ 3,920 $ — $ 4,974 $ (3,772 ) $ 5,377 $ 31 $ 5,408 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non-controlling Interests Total Equity Balance at December 31, 2018 $ 232 $ 3,321 $ (55 ) $ 5,072 $ (3,565 ) $ 5,005 $ 34 $ 5,039 Cumulative effect of change in accounting principle (2) — — — 127 (127 ) — — — Comprehensive income, net — — — 314 45 359 6 365 Cash dividends declared - common (3) — — — (115 ) — (115 ) — (115 ) Cash dividends declared - preferred (4) — — — (7 ) — (7 ) — (7 ) Stock option and incentive plans, net — 20 — — — 20 — 20 Payments to acquire treasury stock, including fees — — (300 ) — — (300 ) — (300 ) Cancellation of treasury stock (7 ) (217 ) 224 — — — — — Distributions to noncontrolling interests — — — — — — (10 ) (10 ) Balance at June 30, 2019 $ 225 $ 3,124 $ (131 ) $ 5,391 $ (3,647 ) $ 4,962 $ 30 $ 4,992 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings AOCL (1) Xerox Shareholders’ Equity Non- controlling Interests Total Equity Balance at December 31, 2017 $ 255 $ 3,893 $ — $ 4,856 $ (3,748 ) $ 5,256 $ 37 $ 5,293 Cumulative effect of change in accounting principles — — — 120 — 120 — 120 Comprehensive income (loss), net — — — 135 (24 ) 111 5 116 Cash dividends declared - common (3) — — — (130 ) — (130 ) — (130 ) Cash dividends declared - preferred (4) — — — (7 ) — (7 ) — (7 ) Stock option and incentive plans, net — 27 — — — 27 — 27 Distributions to noncontrolling interests — — — — — — (11 ) (11 ) Balance at June 30, 2018 $ 255 $ 3,920 $ — $ 4,974 $ (3,772 ) $ 5,377 $ 31 $ 5,408 _____________________________ (1) Refer to Note 19 - Other Comprehensive Income (Loss) for the components of AOCL. (2) Refer to Note 2 - Recent Accounting Pronouncements - Income Taxes, for additional information related to the adoption of ASU 2018-02. (3) Cash dividends declared on common stock for the three and six months ended June 30, 2019 and 2018 were $0.25 per share and $0.50 per share, respectively. (4) Cash dividends declared on preferred stock for the three and six months ended June 30, 2019 and 2018 were $20.00 per share and $40.00 per share, respectively.
Summary of Treasury Stock Purchases	The following is a summary of the purchases of common stock during 2019 : Shares Amount Balance at December 31, 2018 2,067 $ 55 Purchases (1) 9,246 300 Cancellations (7,348 ) (224 ) Balance at June 30, 2019 3,965 $ 131 _____________________________ (1) Includes associated fees.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based compensation expense	Stock-based compensation expense was as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Stock-based compensation expense, pre-tax $ 15 $ 13 $ 30 $ 29 Income tax benefit recognized in earnings 3 3 7 7
Schedule of key valuation input assumptions	A summary of the key valuation input assumptions used in the Monte Carlo simulation relative to PS awards granted were as follows: Program to Date June 30, 2019 Term 3 years Risk-free interest rate (1) 2.51 % Dividend yield (2) 3.97 % Xerox’s blended volatility (3) 32.95 % Weighted average fair value (4) $ 16.16 ____________ (1) The risk-free interest rate was based on the zero-coupon U.S. Treasury yield curve on the valuation date, with a maturity matched to the performance period . (2) The dividend yield was calculated as the expected quarterly dividend divided by Xerox’s three-month average stock price as of the valuation date, annualized and continuously compounded. (3) Xerox’s volatility is calculated using a blended volatility approach, with 50% weight on Xerox's historical volatility calculated from daily stock returns over a three -year look-back term from the valuation date, and 50% weight on Xerox's implied volatility. (4) The weighted average of fair values used to record compensation expense as determined by the Monte Carlo simulation.
Schedule of absolute TSR payout as a percentage	The Absolute Share Price is compared against total return targets to determine the payout as follows: Total Return Targets (1) Payout Percentages $40.00 and above 200 % $35.00 100 % $30.00 50 % Below $30.00 0 % ____________ (1) For performance between the levels described above, the degree of vesting is interpolated on a linear basis.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of Other Comprehensive Income	Other Comprehensive Income (Loss) is comprised of the following: Three Months Ended Six Months Ended 2019 2018 2019 2018 Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Translation adjustments (losses) gains $ (5 ) $ (4 ) $ (335 ) $ (322 ) $ 32 $ 33 $ (151 ) $ (146 ) Unrealized gains (losses) Changes in fair value of cash flow hedges gains (losses) 3 1 (2 ) (1 ) 6 4 10 7 Changes in cash flow hedges reclassed to earnings (1) (2 ) (1 ) — — (3 ) (2 ) 12 10 Other losses — — (2 ) (2 ) — — (3 ) (3 ) Net Unrealized gains (losses) 1 — (4 ) (3 ) 3 2 19 14 Defined benefit plans (losses) gains Net actuarial/prior service (losses) gains (21 ) (15 ) (22 ) (16 ) (36 ) (27 ) 36 27 Prior service amortization (2) (21 ) (16 ) (3 ) (3 ) (40 ) (30 ) (5 ) (4 ) Actuarial loss amortization/settlement (2) 44 33 47 35 89 67 93 70 Fuji Xerox changes in defined benefit plans, net (3) (7 ) (7 ) (3 ) (3 ) 2 2 (24 ) (24 ) Other gains (losses) (4) 14 14 77 77 (2 ) (2 ) 39 39 Changes in defined benefit plans gains 9 9 96 90 13 10 139 108 Other Comprehensive Income (Loss) Attributable to Xerox $ 5 $ 5 $ (243 ) $ (235 ) $ 48 $ 45 $ 7 $ (24 ) _____________________________ (1) Reclassified to Cost of sales - refer to Note 14 - Financial Instruments for additional information regarding our cash flow hedges. (2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 16 - 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, December 31, Cumulative translation adjustments $ (1,990 ) $ (2,023 ) Other unrealized gains, net 6 4 Benefit plans net actuarial losses and prior service credits (1)(2) (1,663 ) (1,546 ) Total Accumulated other comprehensive loss attributable to Xerox $ (3,647 ) $ (3,565 ) _____________________________ (1) Includes our share of Fuji Xerox. (2) The change from December 31, 2018 includes $(127) related to the adoption of ASU 2018-02 and the reclassification of stranded tax effects resulting from the Tax Act - refer to Note 2 - Recent Accounting Pronouncements - Income Taxes for additional information.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2019
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: Three Months Ended Six Months Ended 2019 2018 2019 2018 Basic Earnings per Share Net Income Attributable to Xerox $ 181 $ 112 $ 314 $ 135 Accrued dividends on preferred stock (3 ) (3 ) (7 ) (7 ) Adjusted Net income available to common shareholders $ 178 $ 109 $ 307 $ 128 Weighted average common shares outstanding 223,606 254,895 226,040 254,791 Basic Earnings per Share $ 0.79 $ 0.42 $ 1.36 $ 0.50 Diluted Earnings per Share Net Income Attributable to Xerox $ 181 $ 112 $ 314 $ 135 Accrued dividends on preferred stock — (3 ) — (7 ) Adjusted Net income available to common shareholders $ 181 $ 109 $ 314 $ 128 Weighted average common shares outstanding 223,606 254,895 226,040 254,791 Common shares issuable with respect to: Stock options 65 — 34 — Restricted stock and performance shares 4,866 3,052 4,637 2,931 Convertible preferred stock 6,742 — 6,742 — Adjusted Weighted average common shares outstanding 235,279 257,947 237,453 257,722 Diluted Earnings per Share $ 0.77 $ 0.42 $ 1.32 $ 0.50 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 848 1,097 879 1,097 Restricted stock and performance shares 2,357 4,329 2,587 4,450 Convertible preferred stock — 6,742 — 6,742 Total Anti-Dilutive Securities 3,205 12,168 3,466 12,289 Dividends per Common Share $ 0.25 $ 0.25 $ 0.50 $ 0.50

Contingencies and Litigation (T

Contingencies and Litigation (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Brazil Tax Contingencies	Below is a summary of our Brazilian tax contingencies: June 30, December 31, Tax contingency - unreserved $ 465 $ 500 Escrow cash deposits 59 58 Surety bonds 107 106 Letters of credit 93 104 Liens on Brazilian assets — —

Basis of Presentation - Corpor

Basis of Presentation - Corporate Reorganization (Details) - Subsequent Event $ / shares in Units, $ in Millions	Aug. 06, 2019USD ($)$ / sharesshares
Conversion of Stock [Line Items]
Number of shares exchanged for common stock (in shares) | shares	1,000
Par value (in dollars per share) | $ / shares	$ 1
Common Stock
Conversion of Stock [Line Items]
Shares exchanged for common stock	$ (221)
Additional Paid-in Capital
Conversion of Stock [Line Items]
Shares exchanged for common stock	$ 221

Basis of Presentation - Shared

Basis of Presentation - Shared Services Arrangement (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Long-term Purchase Commitment [Line Items]
Shares services arrangement, commitment amount	$ 1,300
Shared services arrangement, period	7 years
Shared Services Arrangement with HCL Technologies | Employee Transfers
Long-term Purchase Commitment [Line Items]
Restructuring and related cost incurred	$ 30

Basis of Presentation - Change

Basis of Presentation - Change in Presentation (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Sales and services	[1],[2]	$ 2,289	$ 2,510	$ 4,495	$ 4,945
Sales
Sales and services	[1]	825	927	1,575	1,772
Cost of sales and services	[1]	552	593	1,016	1,125
Services, maintenance and rentals
Sales and services	[1]	1,403	1,515	2,796	3,034
Cost of sales and services	[1]	$ 807	883	$ 1,628	1,782
As Reported | Sales
Sales and services			1,017		1,950
Cost of sales and services			622		1,185
As Reported | Services, maintenance and rentals
Sales and services			1,425		2,856
Cost of sales and services			854		1,722
Change | Sales
Sales and services			(90)		(178)
Cost of sales and services			(29)		(60)
Change | Services, maintenance and rentals
Sales and services			90		178
Cost of sales and services			$ 29		$ 60
[1]	Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation for additional information.
[2]	Geographic area data is based upon the location of the subsidiary reporting the revenue.

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets		$ 14,684		$ 14,684		$ 14,874
Liabilities		(9,478)		(9,478)		$ (9,621)
Equipment sales	[1],[2]	2,289	$ 2,510	4,495	$ 4,945
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets		385		385
Assets, undiscounted		440		440
Liabilities		(385)		(385)
Liabilities, undiscounted		(440)		(440)
Retained Earnings | ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle				127
AOCL | ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of change in accounting principle				(127)
Equipment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equipment sales		$ 504	$ 561	952	$ 1,060
Equipment | ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equipment sales				$ 11
[1]	Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation for additional information.
[2]	Geographic area data is based upon the location of the subsidiary reporting the revenue.

Adoption of New Leasing Stand_5

Adoption of New Leasing Standard - Xerox as a Lessee - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Remaining terms of leases	10 years	10 years
Remaining lease obligation	$ 7	$ 7
Finance leases, discount rate	4.07%	4.07%
Finance lease, right-of-use asset	$ 8	$ 8
Operating lease expense	$ 33	$ 66	$ 147
Net of sublease income				$ 161

Adoption of New Leasing Stand_6

Adoption of New Leasing Standard - Xerox as a Lessee - Components of Lease Expense (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended	12 Months Ended
		Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease expense		$ 33	$ 66	$ 147
Short-term lease expense		5	10
Variable lease expense	[1]	12	25
Sublease income		(1)	(1)
Total Lease expense		$ 49	$ 100
[1]	Variable lease expense is related to our leased real estate for offices and warehouses and primarily includes labor and operational costs as well as taxes and insurance.

Adoption of New Leasing Stand_7

Adoption of New Leasing Standard - Xerox as a Lessee - Operating Lease ROU Asset, Net and Operating Lease Liabilities (Details) $ in Millions	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating lease, Other long-term assets	$ 319
Operating lease, Accrued expenses and other current liabilities	92
Operating lease, Other long-term liabilities	254
Total Operating lease liabilities	$ 346

Adoption of New Leasing Stand_8

Adoption of New Leasing Standard - Xerox as a Lessee - Supplemental Information Related to Operating Leases (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)		Jun. 30, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows	$ 32		$ 64
Right-of-use assets obtained in exchange for new lease liabilities	$ 14	[1]	$ 23	[1]
Weighted-average remaining lease term	4 years		4 years
Weighted-average discount rate	5.63%		5.63%
[1]	Includes the impact of new leases as well as remeasurements and modifications to existing leases.

Adoption of New Leasing Stand_9

Adoption of New Leasing Standard - Xerox as a Lessee - Maturities and Additional Information Related to Operating Lease Liabilities (Details) $ in Millions	Jun. 30, 2019USD ($)
Leases [Abstract]
2019	$ 61	[1]
2020	103
2021	80
2022	66
2023	49
Thereafter	36
Total Lease payments	395
Less: Imputed interest	49
Total Operating lease liabilities	$ 346
[1]	Represents the future minimum operating lease payments expected to be made over the remaining balance of the year.

Adoption of New Leasing Stan_10

Adoption of New Leasing Standard - Xerox as a Lessee - Future Minimum Operating Lease Commitments (Details) $ in Millions	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 114
2020	88
2021	64
2022	50
2023	36
Thereafter	27
Total Operating lease commitments	$ 379

Adoption of New Leasing Stan_11

Adoption of New Leasing Standard - Xerox as a Lessor - Components of Lease Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lessor, Lease, Description [Line Items]
Economic life of leased product				5 years
Lease income - sales type		$ 150	$ 172	$ 284	$ 332
Interest income on lease receivables		61	68	124	139
Lease income - operating leases	[1]	100	109	204	222
Variable lease income		28	31	55	61
Total Lease income		339	380	667	754
Total Revenues	[2],[3]	2,289	2,510	4,495	4,945
Profit at lease commencement, sales type leases		55		120
Profit at lease commencement, sales type leases			70		145
Services
Lessor, Lease, Description [Line Items]
Total Revenues	[2]	$ 1,403	$ 1,515	2,796	3,034
Services | ASU 2016-02
Lessor, Lease, Description [Line Items]
Total Revenues				$ 30	$ 28
[1]	Operating lease income for the six months ended June 30, 2019 and 2018 exclude service revenues of $30 and $28
[2]	Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation for additional information.
[3]	Geographic area data is based upon the location of the subsidiary reporting the revenue.

Revenue - Disaggregation of Re

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenues	[1],[2]	$ 2,289	$ 2,510	$ 4,495		$ 4,945
Equipment
Disaggregation of Revenue [Line Items]
Total Revenues		504	561	952		1,060
Supplies, paper and other sales
Disaggregation of Revenue [Line Items]
Total Revenues		321	366	623		712
Maintenance agreements
Disaggregation of Revenue [Line Items]
Total Revenues	[3]	609	671	1,207	[4]	1,340	[4]
Service arrangements
Disaggregation of Revenue [Line Items]
Total Revenues	[5]	637	676	1,272	[4]	1,358	[4]
Rental and other
Disaggregation of Revenue [Line Items]
Total Revenues		157	168	317	[4]	336	[4]
Financing
Disaggregation of Revenue [Line Items]
Total Revenues		61	68	124		139
Sales
Disaggregation of Revenue [Line Items]
Total Revenues	[1]	825	927	1,575		1,772
Sales | Direct Equipment Lease
Disaggregation of Revenue [Line Items]
Total Revenues	[6]	150	172	284		332
Sales | Distributors & resellers
Disaggregation of Revenue [Line Items]
Total Revenues	[7]	333	357	648		701
Sales | Customer direct
Disaggregation of Revenue [Line Items]
Total Revenues		342	398	643		739
United States
Disaggregation of Revenue [Line Items]
Total Revenues	[2]	1,370	1,479	2,664		2,893
Europe
Disaggregation of Revenue [Line Items]
Total Revenues	[2]	584	660	1,184		1,336
Canada
Disaggregation of Revenue [Line Items]
Total Revenues	[2]	130	147	254		291
Other
Disaggregation of Revenue [Line Items]
Total Revenues	[2]	$ 205	$ 224	$ 393		$ 425
[1]	Certain prior year amounts have been conformed to the current year presentation. Refer to Note 1 - Basis of Presentation for additional information.
[2]	Geographic area data is based upon the location of the subsidiary reporting the revenue.
[3]	Includes revenues from maintenance agreements on sold equipment as well as revenues associated with service agreements sold through our channel partners as Xerox Partner Print Services (XPPS).
[4]	Certain prior year amounts have been revised to conform to the current year presentation. Refer to Note 1 - Basis of Presentation - Change in Presentation, for additional information.
[5]	Primarily includes revenues from our Managed Services offerings (formerly our Managed Document Services arrangements). Also includes revenues from embedded operating leases, which were not significant.
[6]	Primarily reflects direct sales through bundled lease arrangements.
[7]	Primarily reflects sales through our two-tier distribution channels.

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Revenue, Contract Assets, Liabilities and Costs[Line Items]
Contract liabilities	$ 134		$ 134		$ 116
Contract liability amortization period			30 months
Deferred incremental direct costs, amortization period	4 years		4 years
Deferred incremental direct costs net of accumulated amortization	$ 165		$ 165		172
Contract Fulfillment Costs and Inducements
Revenue, Contract Assets, Liabilities and Costs[Line Items]
Capitalized contract costs, amounts deferred	12		12		$ 12
Capitalized contract costs, amortization	$ 2	$ 2	$ 3	$ 3

Revenue - Incremental Direct C

Revenue - Incremental Direct Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Incremental direct costs of obtaining a contract	$ 18	$ 23	$ 36	$ 40
Amortization of incremental direct costs	$ 20	$ 23	$ 43	$ 47

Acquisitions - Additional Info

Acquisitions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Acquisitions	$ 38	$ 0	$ 42	$ 0
Rabbit Copiers, Inc. and Heritage Business Systems, Inc.
Business Acquisition [Line Items]
Acquisitions	$ 38
Percentage of ownership acquired	100.00%		100.00%

Supplementary Financial Infor_3

Supplementary Financial Information - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Supplemental Financial Information [Abstract]
Cash and cash equivalents	$ 712		$ 1,084
Litigation deposits in Brazil	64		61
Other restricted cash	0		3
Total Restricted cash	64		64
Cash, cash equivalents and restricted cash	$ 776	$ 786	$ 1,148	$ 1,327	$ 1,474	$ 1,368

Supplementary Financial Infor_4

Supplementary Financial Information - Restricted Cash Balance Sheet Location (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Total Restricted cash	$ 64	$ 64
Other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Total Restricted cash	0	1
Other long-term assets
Restricted Cash and Cash Equivalents Items [Line Items]
Total Restricted cash	$ 64	$ 63

Supplementary Financial Infor_5

Supplementary Financial Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Supplemental Financial Information [Abstract]
Provision for receivables		$ 13	$ 13	$ 27	$ 26
Provision for inventory		7	10	15	14
Provision for product warranty		3	3	7	7
Depreciation of buildings and equipment		26	44	53	88
Depreciation and obsolescence of equipment on operating leases		57	63	116	127
Amortization of internal use software		16	19	33	37
Amortization of acquired intangible assets		11	12	26	24
Amortization of customer contract costs	[1]	22	25	46	50
Cost of additions to land, buildings and equipment		10	17	19	26
Cost of additions to internal use software		6	15	12	24
Common stock dividends		57	64	115	128
Preferred stock dividends		3	4	7	7
Payments to noncontrolling interests		12	1	13	13
Repurchases related to stock-based compensation		$ 9	$ 1	$ 10	$ 2
[1]	__________ (1) Amortization of customer contract costs are reported in Decrease in other current and long-term assets in the Condensed Consolidated Statements of Cash Flows. Refer to Note 5 - Revenue for additional information on contract costs.

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	$ 1,256	$ 1,276
Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Invoiced	992	999
Accrued	320	333
Allowance for doubtful accounts	(56)	(56)
Accounts receivable, net	$ 1,256	$ 1,276

Accounts Receivable, Net - Acc

Accounts Receivable, Net - Accounts Receivable Sales Arrangements (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Accounts Receivable Sales Arrangements [Abstract]
Uncollected accounts receivable sold and derecognized		$ 131		$ 131		$ 131
Accounts Receivable
Accounts Receivable Sales Arrangements [Abstract]
Accounts receivable sales	[1]	110	$ 128	198	$ 231
Loss on sales of accounts receivable		$ 0	$ 0	$ 1	$ 1
[1]	Customers may also enter into structured-payable arrangements that require us to sell our receivables from that customer to a third-party financial institution, which then makes payments to us to settle the customer's receivable. In these instances, we ensure the sale of the receivables are bankruptcy-remote and the payment made to us is without recourse. The activity associated with these arrangements is not reflected in this disclosure, as payments under these arrangements have not been material and these are customer directed arrangements.

Finance Receivables, Net (Detai

Finance Receivables, Net (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Gross receivables	$ 3,860		$ 4,003
Unearned income	(418)		(439)
Subtotal	3,442		3,564
Residual values	0		0
Allowance for doubtful accounts	(93)	$ (93)	(92)	$ (107)	$ (108)	$ (108)
Finance receivables, net	3,349		3,472
Less: Billed portion of finance receivables, net	108		105
Less: Current portion of finance receivables not billed, net	1,177		1,218
Finance receivables due after one year, net	$ 2,064		$ 2,149

Finance Receivables, Net - Sum

Finance Receivables, Net - Summary of Future Contractual Maturities of Gross Finance Receivables (Details) - USD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
12 Months	[1]	$ 1,514	$ 1,543
24 Months		1,057	1,108
36 Months		715	755
48 Months		405	425
60 Months		151	158
Thereafter		18	14
Total		3,860	4,003
Amounts previously billed		$ 112	$ 107
[1]	Includes amounts previously billed of $112 and $107 as of June 30, 2019 and December 31, 2018 , respectively.

Finance Receivables, Net - Al

Finance Receivables, Net - Allowance for Credit Losses (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		$ 93	$ 92	$ 108	$ 108
Provision		8	9	9	9
Charge-offs		(11)	(8)	(8)	(10)
Recoveries and other	[1]	3	0	(2)	1
Ending Balance		93	93	107	108
Financing Receivable, Collectively Evaluated for Impairment	[2]					$ 3,442	$ 3,630	[3]
Allowance for doubtful accounts		93	92	108	108	93	107
United States
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		53	53	56	56
Provision		4	4	4	5
Charge-offs		(5)	(4)	(4)	(5)
Recoveries and other	[1]	1	0	0	0
Ending Balance		53	53	56	56
Financing Receivable, Collectively Evaluated for Impairment	[2]					1,885	1,973	[3]
Allowance for doubtful accounts		53	53	56	56	53	56
Canada
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		12	12	14	15
Provision		1	1	1	0
Charge-offs		(3)	(1)	(1)	(1)
Recoveries and other	[1]	2	0	0	0
Ending Balance		12	12	14	14
Financing Receivable, Collectively Evaluated for Impairment	[2]					329	356	[3]
Allowance for doubtful accounts		12	12	14	15	12	14
Europe
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		26	25	36	35
Provision		3	4	4	4
Charge-offs		(3)	(3)	(3)	(4)
Recoveries and other	[1]	0	0	(2)	1
Ending Balance		26	26	35	36
Financing Receivable, Collectively Evaluated for Impairment	[2]					1,185	1,256	[3]
Allowance for doubtful accounts		26	25	36	35	26	35
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	[4]	2	2	2	2
Provision	[4]	0	0	0	0
Charge-offs	[4]	0	0	0	0
Recoveries and other	[1],[4]	0	0	0	0
Ending Balance	[4]	2	2	2	2
Financing Receivable, Collectively Evaluated for Impairment	[2],[4]					43	45	[3]
Allowance for doubtful accounts	[4]	$ 2	$ 2	$ 2	$ 2	$ 2	$ 2
[1]	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.
[2]	Total Finance receivables exclude the allowance for credit losses of $93 and $107 at June 30, 2019 and 2018
[3]	As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation.
[4]	Includes developing market countries and smaller units.

Finance Receivables, Net - Cre

Finance Receivables, Net - Credit Quality Indicators (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2019	Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [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		5.00%
Loss rates of customers with substandard doubtful credit quality - low		7.00%
Loss rates of customers with substandard doubtful credit quality - high		10.00%
Subtotal		$ 3,442	$ 3,564
United States
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	1,885	1,946
United States | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		597	599
United States | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		500	525
United States | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		279	300
United States | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		182	184
United States | Healthcare
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		136	143
United States | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		191	195
Canada
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		329	335
Canada | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		109	105
Canada | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		44	45
Canada | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		74	78
Canada | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		40	37
Canada | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		62	70
Europe
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[2]	1,185	1,239
France
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		387	418
U.K./Ireland
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		233	244
Central
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[3],[4]	312	327
Southern
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[5]	206	205
Nordics
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[6]	47	45
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	43	44
Investment Grade
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		1,679	1,798
Investment Grade | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	859	947
Investment Grade | United States | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		168	177
Investment Grade | United States | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		424	453
Investment Grade | United States | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		72	82
Investment Grade | United States | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		81	86
Investment Grade | United States | Healthcare
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		57	86
Investment Grade | United States | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		57	63
Investment Grade | Canada
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		165	162
Investment Grade | Canada | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		59	52
Investment Grade | Canada | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		37	38
Investment Grade | Canada | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		21	22
Investment Grade | Canada | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		18	16
Investment Grade | Canada | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		30	34
Investment Grade | Europe
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[2]	626	658
Investment Grade | France
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		212	232
Investment Grade | U.K./Ireland
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		146	150
Investment Grade | Central
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[3]	182	196
Investment Grade | Southern
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[5]	58	52
Investment Grade | Nordics
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[6]	28	28
Investment Grade | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	29	31
Non-investment Grade
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		1,371	1,378
Non-investment Grade | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	762	748
Non-investment Grade | United States | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		336	334
Non-investment Grade | United States | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		58	63
Non-investment Grade | United States | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		121	131
Non-investment Grade | United States | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		83	82
Non-investment Grade | United States | Healthcare
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		62	48
Non-investment Grade | United States | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		102	90
Non-investment Grade | Canada
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		92	99
Non-investment Grade | Canada | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		32	33
Non-investment Grade | Canada | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		4	3
Non-investment Grade | Canada | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		26	30
Non-investment Grade | Canada | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		11	12
Non-investment Grade | Canada | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		19	21
Non-investment Grade | Europe
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[2]	504	518
Non-investment Grade | France
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		149	157
Non-investment Grade | U.K./Ireland
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		81	87
Non-investment Grade | Central
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[3]	121	123
Non-investment Grade | Southern
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[5]	135	136
Non-investment Grade | Nordics
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[6]	18	15
Non-investment Grade | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	13	13
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		392	388
Substandard | United States
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	264	251
Substandard | United States | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		93	88
Substandard | United States | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		18	9
Substandard | United States | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		86	87
Substandard | United States | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		18	16
Substandard | United States | Healthcare
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		17	9
Substandard | United States | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		32	42
Substandard | Canada
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		72	74
Substandard | Canada | Finance and other services
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		18	20
Substandard | Canada | Government and education
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		3	4
Substandard | Canada | Graphic arts
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		27	26
Substandard | Canada | Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		11	9
Substandard | Canada | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		13	15
Substandard | Europe
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[2]	55	63
Substandard | France
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		26	29
Substandard | U.K./Ireland
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal		6	7
Substandard | Central
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[3]	9	8
Substandard | Southern
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[5]	13	17
Substandard | Nordics
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[6]	1	2
Substandard | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Subtotal	[1]	$ 1	$ 0
[1]	As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation.
[2]	Prior year amounts have been recasted to conform to the current year presentation.
[3]	Switzerland, Germany, Austria, Belgium and Holland.
[4]	Switzerland, Germany, Austria, Belgium and Holland
[5]	Italy, Greece, Spain and Portugal.
[6]	Sweden, Norway, Denmark and Finland.

Finance Receivables, Net - Agi

Finance Receivables, Net - Aging of Billed Finance Receivables (Details) - USD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		$ 3,442	$ 3,564
Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		112	107
Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		3,330	3,457
Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		83	76
31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		17	19
90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		12	12
90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		93	102
United States
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[1]	1,885	1,946
United States | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		82	80	[1]
United States | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1,803	1,866	[1]
United States | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		60	56	[1]
United States | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		13	15	[1]
United States | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		9	9	[1]
United States | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		50	54	[1]
United States | Finance and other services
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		597	599
United States | Finance and other services | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		22	21
United States | Finance and other services | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		575	578
United States | Finance and other services | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		16	15
United States | Finance and other services | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		4	4
United States | Finance and other services | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
United States | Finance and other services | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		11	11
United States | Government and education
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		500	525
United States | Government and education | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		23	24
United States | Government and education | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		477	501
United States | Government and education | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		17	17
United States | Government and education | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		3	4
United States | Government and education | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		3	3
United States | Government and education | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		21	24
United States | Graphic arts
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		279	300
United States | Graphic arts | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		14	12
United States | Graphic arts | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		265	288
United States | Graphic arts | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		12	10
United States | Graphic arts | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	1
United States | Graphic arts | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	1
United States | Graphic arts | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		5	5
United States | Industrial
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		182	184
United States | Industrial | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		9	8
United States | Industrial | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		173	176
United States | Industrial | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		6	5
United States | Industrial | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
United States | Industrial | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	1
United States | Industrial | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		6	5
United States | Healthcare
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		136	143
United States | Healthcare | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		7	7
United States | Healthcare | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		129	136
United States | Healthcare | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		4	4
United States | Healthcare | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
United States | Healthcare | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	1
United States | Healthcare | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		4	5
United States | Other
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		191	195
United States | Other | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		7	8
United States | Other | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		184	187
United States | Other | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		5	5
United States | Other | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	2
United States | Other | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	1
United States | Other | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		3	4
Canada
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		329	335
Canada | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		12	10
Canada | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		317	325
Canada | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		9	7
Canada | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
Canada | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1	1
Canada | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		21	22
Canada | Finance and other services
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		109	105
Canada | Government and education
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		44	45
Canada | Graphic arts
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		74	78
Canada | Industrial
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		40	37
Canada | Other
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		62	70
Europe
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[2]	1,185	1,239
Europe | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		15	15
Europe | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		1,170	1,224
Europe | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		11	11
Europe | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
Europe | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
Europe | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		22	26
France
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		387	418
France | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		5	5
France | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		382	413
France | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		5	5
France | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		0	0
France | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		0	0
France | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		12	14
U.K./Ireland
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		233	244
U.K./Ireland | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
U.K./Ireland | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		231	242
U.K./Ireland | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		2	2
U.K./Ireland | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		0	0
U.K./Ireland | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		0	0
U.K./Ireland | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		0	0
Central
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[3],[4]	312	327
Central | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[4]	4	3
Central | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[4]	308	324
Central | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[4]	2	1
Central | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[4]	1	1
Central | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[4]	1	1
Central | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing	[4]	3	6
Southern
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[5]	206	205
Southern | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[5]	4	5
Southern | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[5]	202	200
Southern | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[5]	2	3
Southern | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[5]	1	1
Southern | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[5]	1	1
Southern | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing	[5]	7	6
Nordics
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[6]	47	45
Nordics | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[6]	0	0
Nordics | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[6]	47	45
Nordics | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[6]	0	0
Nordics | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[6]	0	0
Nordics | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[6]	0	0
Nordics | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing	[6]	0	0
Other
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	[1]	43	44
Other | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		3	2	[1]
Other | Unbilled Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		40	42	[1]
Other | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		3	2	[1]
Other | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
Other | 90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables		0	0	[1]
Other | 90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Finance Receivables, 90 Days Past Due and Accruing		$ 0	$ 0	[1]
[1]	As a result of an internal reorganization, XBS amounts, previously classified as Other, were reclassified to the U.S. in first quarter 2019. Prior year amounts have also been reclassified to conform to the current year presentation.
[2]	Prior year amounts have been recasted to conform to the current year presentation.
[3]	Switzerland, Germany, Austria, Belgium and Holland.
[4]	Switzerland, Germany, Austria, Belgium and Holland
[5]	Italy, Greece, Spain and Portugal.
[6]	Sweden, Norway, Denmark and Finland.

Inventories and Equipment on _3

Inventories and Equipment on Operating Leases, Net - Summary of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Inventories, net [Abstract]
Finished goods	$ 659	$ 699
Work-in-process	55	49
Raw materials	74	70
Total Inventories	$ 788	$ 818

Inventories and Equipment on _4

Inventories and Equipment on Operating Leases, Net - Equipment on Operating Leases and Accumulated Depreciation (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Equipment on operating leases, net	$ 455	$ 499
Equipment on Operating Leases, Net [Abstract]
Equipment on operating leases		1,519
Accumulated depreciation		(1,077)
Equipment on operating leases, net	399	$ 442
Equipment on Operating Leases
Property, Plant and Equipment [Line Items]
Equipment on operating leases	1,495
Accumulated depreciation	(1,096)
Equipment on operating leases, net	$ 399

Inventories and Equipment on _5

Inventories and Equipment on Operating Leases, Net - Estimated Minimum Future Revenues Associated with Equipment on Operating Leases (Details) - USD ($) $ in Millions		Jun. 30, 2019	Dec. 31, 2018
Estimated Minimum Future Revenues Associated With Equipment on Operating Leases [Abstract]
2019	[1]	$ 128
2020		216
2021		132
2022		73
2023		31
Thereafter		6
Total		$ 586
Operating Leases, Future Minimum Payments Receivable [Abstract]
2019			$ 260
2020			178
2021			111
2022			61
2023			21
Thereafter			2
Total			$ 633
[1]	2019 amount represents the future minimum revenues expected to be earned over the remaining balance of the year.

Inventories and Equipment on _6

Inventories and Equipment on Operating Leases, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Inventories and Equipment on Operating Leases, Net [Abstract]
Contingent rentals on operating lease, total	$ 28		$ 55
Contingent rentals on operating lease, total		$ 31		$ 61

Investment in Affiliates, at _3

Investment in Affiliates, at Equity - Equity in Net Income (Loss) of Unconsolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Equity Method Investments [Line Items]
Total Equity in net income (loss) of unconsolidated affiliates	$ 34	$ 19	$ 79	$ (49)
Fuji Xerox
Schedule of Equity Method Investments [Line Items]
Total Equity in net income (loss) of unconsolidated affiliates	32	17	75	(53)
Other
Schedule of Equity Method Investments [Line Items]
Total Equity in net income (loss) of unconsolidated affiliates	$ 2	$ 2	$ 4	$ 4

Investment in Affiliates, at _4

Investment in Affiliates, at Equity - Additional Information (Details) - Fuji Xerox $ in Millions, ¥ in Billions		3 Months Ended				6 Months Ended
		Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2018JPY (¥)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Ownership percentage		25.00%		25.00%	25.00%	25.00%
After-tax restructuring and other charges		$ 7	$ 4			$ 19	$ 83
Weighted Average Exchange Rate	[1]	109.80	109.05	108.07	108.07	110.08	108.54
Parent Company - Fujifilm Holdings Corporation | Restatement Adjustment
Schedule of Equity Method Investments [Line Items]
Out-of-period adjustment - Fuji Xerox				$ 110	¥ 12
Non Parent Equity Investment Owner - Xerox Corporation | Restatement Adjustment
Schedule of Equity Method Investments [Line Items]
Out-of-period adjustment - Fuji Xerox				$ 28
[1]	Represents Yen/U.S. Dollar exchange rate used to translate.

Investment in Affiliates, at _5

Investment in Affiliates, at Equity - Summary of Fuji Xerox (Details) - Fuji Xerox $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
Summary of Operations:
Revenues		$ 2,145	$ 2,226		$ 4,606	$ 4,691
Costs and expenses		1,948	2,098		4,152	4,869
Income (Loss) before Income Taxes		197	128		454	(178)
Income tax expense		65	50		150	11
Net Income (Loss)		132	78		304	(189)
Less: Net income attributable to noncontrolling interests		0	1		1	1
Net Income (Loss) – Fuji Xerox		$ 132	$ 77		$ 303	$ (190)
Weighted Average Exchange Rate	[1]	109.80	109.05	108.07	110.08	108.54
[1]	Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs - Addit

Restructuring Programs - Additional Information (Details) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2019USD ($)		Mar. 31, 2019USD ($)		Jun. 30, 2019USD ($)Employees
Restructuring Cost and Reserve [Line Items]
Net restructuring and asset impairment charges	[1]	$ 18		$ 54		$ 72
Restructuring charges		26		62
Headcount reductions, number of employees | Employees						300
Restructuring charges, net reversals		8		8		$ 16
Early termination of prior period impaired leases						2
Severance and Related Costs
Restructuring Cost and Reserve [Line Items]
Net restructuring and asset impairment charges	[1]	7		4
Restructuring charges		13		12		25
Restructuring charges, net reversals		6		8
Other Contractual Termination Costs
Restructuring Cost and Reserve [Line Items]
Net restructuring and asset impairment charges	[1],[2]	3		14
Restructuring charges		3	[2]	14	[2]	17
Restructuring charges, net reversals	[2]	0		0
Asset Impairments
Restructuring Cost and Reserve [Line Items]
Net restructuring and asset impairment charges	[1]	8	[2]	36	[3]
Restructuring charges		10	[2]	36	[3]	$ 46	[3]
Restructuring charges, net reversals		$ 2	[2]	$ 0	[3]
[1]	Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairment charges.
[2]	Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs.
[3]	Primarily related to the exit and abandonment of leased and owned facilities. The charge includes the accelerated write-off of $34 for leased right-of-use asset balances and $12 for owned asset balances upon exit from the facility net of any potential sublease income or other recovery amounts .

Restructuring Programs - Infor

Restructuring Programs - Information Related to Restructuring Program Activity (Details) - USD ($) $ in Millions		3 Months Ended					6 Months Ended
		Jun. 30, 2019		Mar. 31, 2019		Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Restructuring Reserve [Roll Forward]
Balance at beginning of period		$ 80		$ 95			$ 95
Provision		26		62
Reversals		(8)		(8)			(16)
Net current period charges	[1]	18		54			72
Charges against reserve and currency		(29)		(69)		$ (40)	(98)		$ (92)
Balance at end of period		69		80			69
Leased right-of-use asset write-off	[2]						34
Owned asset write-off	[2]						12
Severance and Related Costs
Restructuring Reserve [Roll Forward]
Balance at beginning of period		66		94			94
Provision		13		12			25
Reversals		(6)		(8)
Net current period charges	[1]	7		4
Charges against reserve and currency		(17)		(32)
Balance at end of period		56		66			56
Other Contractual Termination Costs
Restructuring Reserve [Roll Forward]
Balance at beginning of period	[3]	14		1			1
Provision		3	[3]	14	[3]		17
Reversals	[3]	0		0
Net current period charges	[1],[3]	3		14
Charges against reserve and currency	[3]	(4)		(1)
Balance at end of period	[3]	13		14			13
Asset Impairments
Restructuring Reserve [Roll Forward]
Balance at beginning of period	[2]	0		0			0
Provision		10	[3]	36	[2]		46	[2]
Reversals		(2)	[3]	0	[2]
Net current period charges	[1]	8	[3]	36	[2]
Charges against reserve and currency		(8)	[3]	(36)	[2]
Balance at end of period		$ 0	[3]	$ 0	[2]		$ 0	[3]
[1]	Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown for restructuring and asset impairment charges.
[2]	Primarily related to the exit and abandonment of leased and owned facilities. The charge includes the accelerated write-off of $34 for leased right-of-use asset balances and $12 for owned asset balances upon exit from the facility net of any potential sublease income or other recovery amounts .
[3]	Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs.

Restructuring Programs - Summa

Restructuring Programs - Summary Of Reconciliation to Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Charges against reserve and currency	$ (29)	$ (69)	$ (40)	$ (98)	$ (92)
Effects of foreign currency and other non-cash items	8		3	44	1
Restructuring cash payments	$ (21)		$ (37)	$ (54)	$ (91)

Restructuring Programs - Certa

Restructuring Programs - Certain Related Costs Incurred in Connection with Restructuring Programs (Details) $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)employee
Restructuring Cost and Reserve [Line Items]
Related restructuring costs		$ 19	$ 77
Related restructuring costs, number of employees transferred | employee			2,200
Retention related severance/bonuses
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	[1]	11	$ 20
Contractual severance costs
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	[2]	0	38
Consulting and other costs
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	[3]	$ 8	$ 19
[1]	Includes retention related severance and bonuses for employees expected to continue working beyond their minimum notification period before termination.
[2]	Reflects estimated severance costs we are contractually required to pay on employees transferred (approximately 2,200 ) as part of the shared service arrangement entered into with HCL Technologies.
[3]	Represents professional support services associated with our business transformation initiatives.

Debt - Interest Expense and In

Debt - Interest Expense and Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Disclosure [Abstract]
Interest expense	[1]	$ 59	$ 60	$ 118	$ 123
Interest income	[2]	$ 64	$ 72	$ 131	$ 146
[1]	Includes Cost of financing 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 - Additi

Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Derivative [Line Items]
Derivative, Notional Amount	$ 1,272		$ 1,272		$ 1,103
Average Maturity of Foreign Exchange Hedging Contracts - within Three Months	82.00%		82.00%
Average Maturity of Foreign Exchange Hedging Contracts - within Three and Six Months	9.00%		9.00%
Average Maturity of Foreign Exchange Hedging Contracts - within Six and Twelve Months	9.00%		9.00%
Net asset fair value	$ (7)		$ (7)		(11)
Net gain recorded in AOCL expected to be reclassified to net income in the future			6
Foreign currency transaction (losses) gains, before tax	0	$ (1)	(2)	$ 1
Senior Note 2021
Derivative [Line Items]
Notional Amount	200		200
Net Fair Value	2		2
Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Net asset fair value	(7)		(7)		(5)
Cash Flow Hedging | Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Net asset fair value	$ 5		$ 5		$ 8

Financial Instruments - Fair V

Financial Instruments - Fair Value Hedges (Details) - Senior Note 2021 $ in Millions	Jun. 30, 2019USD ($)
Derivative [Line Items]
Notional Amount	$ 200
Net Fair Value	$ 2
Weighted Average Interest Rate Paid	3.26%
Interest Rate Received	4.50%

Financial Instruments - Summar

Financial Instruments - Summary of Derivative Instruments Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative asset	$ 7	$ 11
Total Derivative assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Assets	10	15
Total Derivative liabilities
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Liabilities	(3)	(4)
Derivatives Designated as Hedging Instruments
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative asset	7	5
Derivatives Designated as Hedging Instruments | Other current assets | Foreign exchange contracts - forwards
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Assets	6	7
Derivatives Designated as Hedging Instruments | Other current assets | Foreign currency options
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Assets	0	1
Derivatives Designated as Hedging Instruments | Accrued expenses and other current liabilities | Foreign exchange contracts - forwards
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Liabilities	(1)	0
Derivatives Designated as Hedging Instruments | Other long-term assets | Interest rate swaps
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Assets	2	0
Derivatives Designated as Hedging Instruments | Other long-term liabilities | Interest rate swaps
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Liabilities	0	(3)
Not Designated as Hedging Instrument | Foreign exchange contracts - forwards
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative asset	0	6
Not Designated as Hedging Instrument | Other current assets | Foreign exchange contracts - forwards
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Assets	2	7
Not Designated as Hedging Instrument | Accrued expenses and other current liabilities | Foreign exchange contracts - forwards
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative Liabilities	$ (2)	$ (1)

Financial Instruments - Summ_2

Financial Instruments - Summary of Derivative Instruments Gain (Losses) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) recognized in OCI (effective portion)		$ 3		$ 6
Derivative gain (loss) recognized in OCI (effective portion)			$ (2)		$ 10
Derivative gain (loss) reclassified from AOCL to income - Cost of sales (effective portion)	[1]	2		3
Interest Rate Contract | Fair Value Hedges | Interest Expense
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) recognized in interest expense		3	(1)	5	(6)
Hedged item (loss) gain recognized in interest expense		(3)	1	(5)	6
Foreign exchange contracts - forwards | Cash Flow Hedges
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) recognized in OCI (effective portion)		3		6
Derivative gain (loss) recognized in OCI (effective portion)			(2)		10
Foreign exchange contracts - forwards | Cash Flow Hedges | Cost of Sales
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative gain (loss) reclassified from AOCL to income - Cost of sales (effective portion)		2		3
Derivative gain (loss) reclassified from AOCL to income - Cost of sales (effective portion)			0		(12)
During the three and six months ended June 30, 2019 and 2018, no amount of ineffectiveness was recorded in the Condensed Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or (loss) were included in the assessment of hedge effectiveness		0		0
During the three and six months ended June 30, 2019 and 2018, no amount of ineffectiveness was recorded in the Condensed Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or (loss) were included in the assessment of hedge effectiveness			0		0
Derivative, underlying exposure		$ 0	$ 0	$ 0	$ 0
[1]	Reclassified to Cost of sales - refer to Note 14 - Financial Instruments for additional information regarding our cash flow hedges.

Financial Instruments - Summ_3

Financial Instruments - Summary of Gains (Losses) Non-designated Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Foreign exchange contracts - forwards | Foreign Currency Gain (Loss | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on non-designated derivative instruments	$ 6	$ 18	$ 1	$ 18

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Recurring (Details) - Recurring - Level 2 - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Assets
Deferred compensation investments in mutual funds	$ 18	$ 16
Total	28	31
Liabilities
Deferred compensation plan liabilities	17	16
Total	20	20
Foreign exchange contracts - forwards
Assets
Foreign currency contracts - assets	8	14
Liabilities
Foreign currency contracts - liabilities	3	1
Foreign currency options
Assets
Foreign currency contracts - assets	0	1
Interest rate swaps
Assets
Interest rate swaps	2	0
Liabilities
Interest rate swaps	$ 0	$ 3

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Nonrecurring (Details) - Nonrecurring - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 712	$ 1,084
Accounts receivable, net	1,256	1,276
Short-term debt and current portion of long-term debt	866	961
Long-term debt	3,962	4,269
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	712	1,084
Accounts receivable, net	1,256	1,276
Short-term debt and current portion of long-term debt	870	966
Long-term debt	$ 3,995	$ 3,922

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2019
Components of Net Periodic Benefit Costs:
Defined benefit plans		$ 32,000,000	$ 26,000,000	$ 68,000,000	$ 53,000,000
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss		21,000,000	22,000,000	36,000,000	(36,000,000)
Amortization of net actuarial (loss) benefit	[1]	(44,000,000)	(47,000,000)	(89,000,000)	(93,000,000)
Amortization of prior service credit	[1]	21,000,000	3,000,000	40,000,000	5,000,000
Pension Plan
Contributions [Abstract]
Defined benefit plan, contributions by employer				70,000,000	75,000,000	$ 144,000,000
Pension Plan | Forecast
Contributions [Abstract]
Defined benefit plan, expected future employer contributions							$ 135,000,000
Pension Plan | U.S.
Components of Net Periodic Benefit Costs:
Service cost		1,000,000	0	1,000,000	1,000,000
Interest cost		28,000,000	34,000,000	58,000,000	67,000,000
Expected return on plan assets		(25,000,000)	(36,000,000)	(51,000,000)	(70,000,000)
Recognized net actuarial loss (gain)		6,000,000	6,000,000	11,000,000	12,000,000
Amortization of prior service credit		(1,000,000)	(1,000,000)	(1,000,000)	(1,000,000)
Recognized settlement loss		27,000,000	26,000,000	58,000,000	51,000,000
Defined benefit plans		36,000,000	29,000,000	76,000,000	60,000,000
Defined contribution plans	[2]	5,000,000	10,000,000	13,000,000	19,000,000
Net Periodic Benefit Cost (Credit)		41,000,000	39,000,000	89,000,000	79,000,000
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss	[3]	21,000,000	12,000,000	36,000,000	(46,000,000)
Amortization of net actuarial (loss) benefit		(33,000,000)	(32,000,000)	(69,000,000)	(63,000,000)
Amortization of prior service credit		1,000,000	1,000,000	1,000,000	1,000,000
Total Recognized in Other Comprehensive Income	[4]	(11,000,000)	(19,000,000)	(32,000,000)	(108,000,000)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)		30,000,000	20,000,000	57,000,000	(29,000,000)
Contributions [Abstract]
Defined benefit plan, contributions by employer				13,000,000	14,000,000	27,000,000
Pension Plan | U.S. | Forecast
Contributions [Abstract]
Defined benefit plan, expected future employer contributions							25,000,000
Pension Plan | U.S. | Qualified Plan
Contributions [Abstract]
Defined benefit plan, contributions by employer				0
Pension Plan | Non-U.S.
Components of Net Periodic Benefit Costs:
Service cost		5,000,000	7,000,000	12,000,000	13,000,000
Interest cost		38,000,000	38,000,000	77,000,000	77,000,000
Expected return on plan assets		(58,000,000)	(62,000,000)	(118,000,000)	(125,000,000)
Recognized net actuarial loss (gain)		12,000,000	15,000,000	22,000,000	30,000,000
Amortization of prior service credit		(1,000,000)	(1,000,000)	(1,000,000)	(2,000,000)
Recognized settlement loss		0	0	0	0
Defined benefit plans		(4,000,000)	(3,000,000)	(8,000,000)	(7,000,000)
Defined contribution plans	[2]	6,000,000	7,000,000	12,000,000	14,000,000
Net Periodic Benefit Cost (Credit)		2,000,000	4,000,000	4,000,000	7,000,000
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss	[3]	0	0	0	0
Amortization of net actuarial (loss) benefit		(12,000,000)	(15,000,000)	(22,000,000)	(30,000,000)
Amortization of prior service credit		1,000,000	1,000,000	1,000,000	2,000,000
Total Recognized in Other Comprehensive Income	[4]	(11,000,000)	(14,000,000)	(21,000,000)	(28,000,000)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)		(9,000,000)	(10,000,000)	(17,000,000)	(21,000,000)
Contributions [Abstract]
Defined benefit plan, contributions by employer				57,000,000	61,000,000	117,000,000
Pension Plan | Non-U.S. | Forecast
Contributions [Abstract]
Defined benefit plan, expected future employer contributions							110,000,000
Retiree Health
Components of Net Periodic Benefit Costs:
Service cost		1,000,000	1,000,000	1,000,000	2,000,000
Interest cost		4,000,000	7,000,000	8,000,000	13,000,000
Expected return on plan assets		0	0	0	0
Recognized net actuarial loss (gain)		(1,000,000)	0	(2,000,000)	0
Amortization of prior service credit		(19,000,000)	(1,000,000)	(38,000,000)	(2,000,000)
Recognized settlement loss		0	0	0	0
Defined benefit plans		(15,000,000)	7,000,000	(31,000,000)	13,000,000
Net Periodic Benefit Cost (Credit)		(15,000,000)	7,000,000	(31,000,000)	13,000,000
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss	[3]	0	10,000,000	0	10,000,000
Amortization of net actuarial (loss) benefit		1,000,000	0	2,000,000	0
Amortization of prior service credit		19,000,000	1,000,000	38,000,000	2,000,000
Total Recognized in Other Comprehensive Income	[4]	20,000,000	11,000,000	40,000,000	12,000,000
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)		$ 5,000,000	$ 18,000,000	9,000,000	25,000,000
Contributions [Abstract]
Defined benefit plan, contributions by employer				$ 16,000,000	$ 29,000,000	$ 57,000,000
Retiree Health | Forecast
Contributions [Abstract]
Defined benefit plan, expected future employer contributions							$ 35,000,000
[1]	Reclassified to Total Net Periodic Benefit Cost - refer to Note 16 - Employee Benefit Plans for additional information.
[2]	Prior year amounts have been revised to reflect additional cost for previously excluded plans.
[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 Income. Refer to Note 19 - Other Comprehensive Income (Loss) for related tax effects and the after-tax amounts.

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		$ 5,063	$ 5,582	$ 5,039		$ 5,293
Cumulative effect of change in accounting principle			3			120
Comprehensive income (loss), net		189	(121)	365		116
Cash dividends declared - common	[1]	(57)	(65)	(115)		(130)
Stock option and incentive plans, net		6	12	20		27
Payments to acquire treasury stock, including fees		(197)		(300)	[2]
Cancellation of treasury stock				(224)
Distributions to noncontrolling interests		(9)		10		11
Balance at end of period		$ 4,992	$ 5,408	$ 4,992		$ 5,408
Dividends per common share (in dollars per share)		$ 0.25	$ 0.25	$ 0.50		$ 0.50
Dividends per preferred share (in dollars per share)		$ 20	$ 20	$ 40		$ 40
Series B Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared - preferred	[3]	$ (3)	$ (3)	$ (7)		$ (7)
Xerox Shareholders’ Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		5,027	5,553	5,005		5,256
Cumulative effect of change in accounting principle			3			120
Comprehensive income (loss), net		186	(123)	359		111
Cash dividends declared - common	[1]	(57)	(65)	(115)		(130)
Stock option and incentive plans, net		6	12	20		27
Payments to acquire treasury stock, including fees		(197)		(300)
Balance at end of period		4,962	5,377	4,962		5,377
Xerox Shareholders’ Equity | Series B Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared - preferred	[3]	(3)	(3)	(7)		(7)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		230	255	232		255
Cancellation of treasury stock		(5)		(7)
Balance at end of period		225	255	225		255
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		3,282	3,908	3,321		3,893
Stock option and incentive plans, net		6	12	20		27
Cancellation of treasury stock		(164)		(217)
Balance at end of period		3,124	3,920	3,124		3,920
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		(103)	0	(55)		0
Payments to acquire treasury stock, including fees		(197)		(300)
Cancellation of treasury stock		169		224
Balance at end of period		(131)	0	(131)		0
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		5,270	4,927	5,072		4,856
Cumulative effect of change in accounting principle			3	127	[4]	120
Comprehensive income (loss), net		181	112	314		135
Cash dividends declared - common	[1]	(57)	(65)	(115)		(130)
Balance at end of period		5,391	4,974	5,391		4,974
Retained Earnings | Series B Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared - preferred	[3]	(3)	(3)	(7)		(7)
AOCL
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	[5]	(3,652)	(3,537)	(3,565)		(3,748)
Cumulative effect of change in accounting principle	[4],[5]			(127)
Comprehensive income (loss), net	[5]	5	(235)	45		(24)
Balance at end of period	[5]	(3,647)	(3,772)	(3,647)		(3,772)
Non-controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		36	29	34		37
Comprehensive income (loss), net		3	2	6		5
Distributions to noncontrolling interests		(9)		10		11
Balance at end of period		$ 30	$ 31	$ 30		$ 31
[1]	Cash dividends declared on common stock for the three and six months ended June 30, 2019 and 2018 were $0.25 per share and $0.50 per share, respectively.
[2]	Includes associated fees.
[3]	Cash dividends declared on preferred stock for the three and six months ended June 30, 2019 and 2018 were $20.00 per share and $40.00 per share, respectively.
[4]	Refer to Note 2 - Recent Accounting Pronouncements - Income Taxes, for additional information related to the adoption of ASU 2018-02.
[5]	Refer to Note 19 - Other Comprehensive Income (Loss) for the components of AOCL.

Shareholders' Equity - Treasury

Shareholders' Equity - Treasury Stock (Details) - USD ($) shares in Thousands, $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2019	Jun. 30, 2019
Increase (Decrease) In Treasury Stock [Roll Forward]
Balance at December 31, 2018 (in shares)			2,067
Balance at December 31, 2018			$ 55
Purchases (in shares)	[1]		9,246
Purchases		$ 197	$ 300	[1]
Cancellations (in shares)			(7,348)
Cancellation of treasury stock			$ (224)
Balance at June 30, 2019 (in shares)		3,965	3,965
Balance at June 30, 2019		$ 131	$ 131
[1]	Includes associated fees.

Stock-Based Compensation - Com

Stock-Based Compensation - Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense, pre-tax	$ 15	$ 13	$ 30	$ 29
Income tax benefit recognized in earnings	$ 3	$ 3	$ 7	$ 7

Stock-Based Compensation - Ad

Stock-Based Compensation - Additional Information (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2019trading_day$ / sharesshares
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares entitlement of original award grant	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares entitlement of original award grant	200.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares) | shares	1,265
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 22.49
Restricted Stock Units (RSUs) | Graded vesting after year one of service period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units vest on a granted schedule	25.00%
Restricted Stock Units (RSUs) | Graded vesting after year two of service period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units vest on a granted schedule	25.00%
Restricted Stock Units (RSUs) | Graded vesting after year three of service period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units vest on a granted schedule	50.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	3 years
Performance Shares | Total Revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metrics, weighted performance in share	25.00%
Performance Shares | Free Cash Flow
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metrics, weighted performance in share	25.00%
Performance Shares | Absolute Share Price
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metrics, weighted performance in share	50.00%
Performance Shares | Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares) | shares	708
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 22.49
Performance metrics, weighted performance in share	50.00%
Vesting term	3 years
Performance share maximum overachievement	100.00%
Performance Shares | Market-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares) | shares	708
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 16.16	[1]
Performance metrics, weighted performance in share	50.00%
Vesting term	3 years
Total number of trading days of performance period | trading_day	20
[1]	The weighted average of fair values used to record compensation expense as determined by the Monte Carlo simulation.

Stock-Based Compensation - Sum

Stock-Based Compensation - Summary of Key Valuation Input Assumptions (Details) - Performance Shares	6 Months Ended
	Jun. 30, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	3 years
Market-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term	3 years
Risk-free interest rate	2.51%	[1]
Dividend yield	3.97%	[2]
Blended volatility	32.95%	[3]
Weighted average fair value (in dollars per share)	$ 16.16	[4]
Historical volatility look back	3 years
Daily Stock Returns | Market-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Blended volatility	50.00%
Implied Volatility | Market-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Blended volatility	50.00%
[1]	The risk-free interest rate was based on the zero-coupon U.S. Treasury yield curve on the valuation date, with a maturity matched to the performance period .
[2]	The dividend yield was calculated as the expected quarterly dividend divided by Xerox’s three-month average stock price as of the valuation date, annualized and continuously compounded.
[3]	Xerox’s volatility is calculated using a blended volatility approach, with 50% weight on Xerox's historical volatility calculated from daily stock returns over a three -year look-back term from the valuation date, and 50% weight on Xerox's implied volatility.
[4]	The weighted average of fair values used to record compensation expense as determined by the Monte Carlo simulation.

Stock-Based Compensation - Abs

Stock-Based Compensation - Absolute Share Price Compared Against Total Return Targets (Details) - Market-Based - Performance Shares	6 Months Ended
	Jun. 30, 2019	[1]
$40.00 and above
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a percentage of total return target	200.00%
$35.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a percentage of total return target	100.00%
$30.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a percentage of total return target	50.00%
Below $30.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a percentage of total return target	0.00%
[1]	For performance between the levels described above, the degree of vesting is interpolated on a linear basis.

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Translation adjustments (losses) gains, Pre-tax		$ (5)	$ (335)	$ 32	$ (151)
Translation adjustments (losses) gains, Net of Tax	[1]	(4)	(322)	33	(146)
Unrealized gains (losses), Pre-tax
Changes in fair value of cash flow hedges gains (losses)		3		6
Changes in fair value of cash flow hedges gains (losses)			(2)		10
Changes in cash flow hedges reclassed to earnings	[2]	(2)		(3)
Changes in cash flow hedges reclassed to earnings	[2]		0		12
Other losses		0	(2)	0	(3)
Net Unrealized gains (losses)		1		3
Net Unrealized gains (losses)			(4)		19
Unrealized gains (losses), Net of Tax
Changes in fair value of cash flow hedges gains (losses)			(1)		7
Changes in fair value of cash flow hedges gains (losses)		1		4
Changes in cash flow hedges reclassed to earnings	[2]	(1)		(2)
Changes in cash flow hedges reclassed to earnings	[2]		0		10
Other losses		0	(2)	0	(3)
Net Unrealized gains (losses)	[1]	0		2
Net Unrealized gains (losses)	[1]		(3)		14
Defined benefit plans (losses) gains
Net actuarial/prior service (losses) gains		(21)	(22)	(36)	36
Prior service amortization	[3]	(21)	(3)	(40)	(5)
Actuarial loss amortization/settlement	[3]	44	47	89	93
Fuji Xerox changes in defined benefit plans, net	[4]	(7)	(3)	2	(24)
Other gains (losses)	[5]	14	77	(2)	39
Changes in defined benefit plans gains, Pre-tax		9	96	13	139
Defined benefit plans (losses) gains
Net actuarial/prior service (losses) gains		(15)	(16)	(27)	27
Prior service amortization	[3]	(16)	(3)	(30)	(4)
Actuarial loss amortization/settlement	[3]	33	35	67	70
Fuji Xerox changes in defined benefit plans, net	[4]	(7)	(3)	2	(24)
Other gains (losses)	[5]	14	77	(2)	39
Changes in defined benefit plans gains	[1]	9	90	10	108
Other Comprehensive Income (Loss) Attributable to Xerox, Pre-tax		5	(243)	48	7
Other Comprehensive Income (Loss), Net Attributable to Xerox	[1]	$ 5	$ (235)	$ 45	$ (24)
[1]	Refer to Note 19 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income (Loss), reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.
[2]	Reclassified to Cost of sales - refer to Note 14 - Financial Instruments for additional information regarding our cash flow hedges.
[3]	Reclassified to Total Net Periodic Benefit Cost - refer to Note 16 - 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.

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Loss (AOCL) (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
		Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Cumulative translation adjustments			$ (1,990)		$ (2,023)
Other unrealized gains, net			6
Other unrealized gains, net					4
Benefit plans net actuarial losses and prior service credits	[1],[2]		(1,663)		(1,546)
Total Accumulated other comprehensive loss attributable to Xerox			(3,647)		$ (3,565)
Adjustment to AOCL		$ 3		$ 120
AOCL
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Adjustment to AOCL	[3],[4]		(127)
ASU 2018-02 | AOCL
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Adjustment to AOCL			$ (127)
[1]	Includes our share of Fuji Xerox.
[2]	The change from December 31, 2018 includes $(127) related to the adoption of ASU 2018-02 and the reclassification of stranded tax effects resulting from the Tax Act - refer to Note 2 - Recent Accounting Pronouncements - Income Taxes for additional information.
[3]	Refer to Note 19 - Other Comprehensive Income (Loss) for the components of AOCL.
[4]	Refer to Note 2 - Recent Accounting Pronouncements - Income Taxes, for additional information related to the adoption of ASU 2018-02.

Earnings per Share - Computati

Earnings per Share - Computation of Basic and Diluted Earnings (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic Earnings per Share
Net Income Attributable to Xerox	$ 181	$ 112	$ 314	$ 135
Accrued dividends on preferred stock	(3)	(3)	(7)	(7)
Adjusted Net income available to common shareholders	$ 178	$ 109	$ 307	$ 128
Weighted average common shares outstanding (in shares)	223,606	254,895	226,040	254,791
Basic Earnings per Share (in dollars per share)	$ 0.79	$ 0.42	$ 1.36	$ 0.50
Diluted Earnings per Share
Net Income Attributable to Xerox	$ 181	$ 112	$ 314	$ 135
Accrued dividends on preferred stock	0	(3)	0	(7)
Adjusted Net income available to common shareholders	$ 181	$ 109	$ 314	$ 128
Weighted average common shares outstanding (in shares)	223,606	254,895	226,040	254,791
Common shares issuable with respect to:
Adjusted Weighted average common shares outstanding (in shares)	235,279	257,947	237,453	257,722
Diluted Earnings per Share (in dollars per share)	$ 0.77	$ 0.42	$ 1.32	$ 0.50
Stock options
Common shares issuable with respect to:
Common shares attributable to dilutive effect of share-based payments (in shares)	65	0	34	0
Restricted stock and performance shares
Common shares issuable with respect to:
Common shares attributable to dilutive effect of share-based payments (in shares)	4,866	3,052	4,637	2,931
Convertible preferred stock
Common shares issuable with respect to:
Common shares attributable to dilutive effect of share-based payments (in shares)	6,742	0	6,742	0

Earnings per Share - Anti-Dilu

Earnings per Share - Anti-Dilutive Securities (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	3,205	12,168	3,466	12,289
Dividends per common share (in dollars per share)	$ 0.25	$ 0.25	$ 0.50	$ 0.50
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	848	1,097	879	1,097
Restricted stock and performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	2,357	4,329	2,587	4,450
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	0	6,742	0	6,742

Contingencies and Litigation -

Contingencies and Litigation - Brazilian Tax Contingencies (Details) - Brazil Tax and Labor Contingencies - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Tax contingency - unreserved	$ 465	$ 500
Escrow cash deposits	59	58
Surety bonds	107	106
Letters of credit	93	104
Liens on Brazilian assets	$ 0	$ 0

Contingencies and Litigation _2

Contingencies and Litigation - Litigation Against Company (Details) - Pending Litigation - Transactions To Combine Xerox And Fuji Xerox $ in Millions	Jun. 18, 2018USD ($)	Feb. 28, 2018complaintclass_action
Loss Contingencies [Line Items]
Number of complaints | complaint		5
Number of putative class actions | class_action		4
Termination fee	$ 183
Loss contingency, damages sought	$ 1,000

Contingencies and Litigation _3

Contingencies and Litigation - Other Pending Litigation (Details) $ in Millions	Feb. 15, 2019USD ($)	May 09, 2014	Jun. 30, 2019USD ($)
Loss Contingencies [Line Items]
Loss contingency, multiplier of overpayment amounts		2
Conduent Entities
Loss Contingencies [Line Items]
Litigation settlement	$ 235.9
Performance Guarantee
Guarantor Obligations [Line Items]
Maximum exposure, undiscounted			$ 314