Xerox 10-K 23 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Jan. 31, 2022	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	XEROX HOLDINGS CORPORATION
Entity Incorporation, State or Country Code	NY
Entity File Number	001-39013
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	849-5216
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	XRX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4,279,321,992
Entity Common Stock, Shares Outstanding		156,354,571
Documents Incorporated by Reference	Document Part of Form 10-K in which Incorporated Xerox Holdings Corporation Notice of 2022 Annual Meeting of Shareholders and Proxy Statement (to be filed no later than 120 days after the close of the fiscal year covered by this report on Form 10-K) III
Entity Central Index Key	0001770450
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Xerox Corporation
Entity Information [Line Items]
Entity Registrant Name	XEROX CORPORATION
Entity Incorporation, State or Country Code	NY
Entity File Number	001-04471
Entity Tax Identification Number	16-0468020
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Central Index Key	0000108772

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor [Line Items]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Stamford, Connecticut
Auditor Firm ID	238
Xerox Corporation
Auditor [Line Items]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Stamford, Connecticut
Auditor Firm ID	238

Consolidated Statements of (Los

Consolidated Statements of (Loss) Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total Revenues	$ 7,038	$ 7,022	$ 9,066
Costs and Expenses
Cost of financing	111	121	131
Research, development and engineering expenses	310	311	373
Selling, administrative and general expenses	1,718	1,851	2,085
Goodwill impairment	781	0	0
Restructuring and related costs, net	38	93	229
Amortization of acquired intangible assets	55	56	45
Transaction and related costs, net	0	18	12
Other expenses, net	(24)	45	84
Total Costs and Expenses	7,513	6,770	8,244
Income before Income Taxes and Equity (Loss) Income	(475)	252	822
Income tax (benefit) expense	(17)	64	179
Equity in net income of unconsolidated affiliates	3	4	8
(Loss) Income from Continuing Operations	(455)	192	651
Income from discontinued operations, net of tax	0	0	710
Net (Loss) Income	(455)	192	1,361
Less: Income from continuing operations attributable to noncontrolling interests	0	0	3
Less: Income from discontinued operations attributable to noncontrolling interests	0	0	5
Net (Loss) Income Attributable to Xerox Holdings	(455)	192	1,353
(Loss) Income from continuing operations	(455)	192	648
Income from discontinued operations	$ 0	$ 0	$ 705
Basic (Loss) Earnings per Share:
Continuing operations (in dollars per share)	$ (2.56)	$ 0.85	$ 2.86
Discontinued operations (in dollars per share)	0	0	3.17
Total Basic (Loss) Earnings Per Share (in dollars per share)	(2.56)	0.85	6.03
Diluted (Loss) Earnings per Share:
Continuing operations (in dollars per share)	(2.56)	0.84	2.78
Discontinued operations (in dollars per share)	0	0	3.02
Total Diluted (Loss) Earnings per Share (in dollars per share)	$ (2.56)	$ 0.84	$ 5.80
Sales
Revenues
Total Revenues	$ 2,582	$ 2,449	$ 3,227
Costs and Expenses
Cost of goods and services sold	1,862	1,742	2,097
Services, maintenance and rentals
Revenues
Total Revenues	4,235	4,347	5,595
Costs and Expenses
Cost of goods and services sold	2,662	2,533	3,188
Financing
Revenues
Total Revenues	$ 221	$ 226	$ 244

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net (Loss) Income		$ (455)	$ 192	$ 1,361
Less: Income from continuing operations attributable to noncontrolling interests		0	0	3
Less: Income from discontinued operations attributable to noncontrolling interests		0	0	5
Net (Loss) Income Attributable to Xerox Holdings		(455)	192	1,353
Translation adjustments, net	[1]	(141)	241	62
Unrealized (losses) gains, net	[1]	(4)	4	(6)
Changes in defined benefit plans, net	[1]	489	69	(10)
Other Comprehensive Income , Net Attributable Xerox Holdings	[1]	344	314	46
Comprehensive (loss) income, net		(111)	506	1,407
Less: Comprehensive income, net from continuing operations attributable to noncontrolling interests		0	0	3
Less: Comprehensive income, net from discontinued operations attributable to noncontrolling interests		0	0	5
Comprehensive (Loss) Income, Net Attributable to Xerox Holdings		$ (111)	$ 506	$ 1,399
[1]	Refer to Note 25 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 1,840	$ 2,625
Accounts receivable (net of allowance of $58 and $69, respectively)	818	883
Billed portion of finance receivables (net of allowance of $4 and $4, respectively)	94	99
Finance receivables, net	1,042	1,082
Inventories	696	843
Other current assets	211	251
Total current assets	4,701	5,783
Finance receivables due after one year (net of allowance of $114 and $129, respectively)	1,934	1,984
Equipment on operating leases, net	253	296
Land, buildings and equipment, net	358	407
Intangible assets, net	211	237
Goodwill	3,287	4,071
Deferred tax assets	519	508
Other long-term assets	1,960	1,455
Total Assets	13,223	14,741
Liabilities and Equity
Short-term debt and current portion of long-term debt	650	394
Accounts payable	1,069	983
Accrued compensation and benefits costs	239	261
Accrued expenses and other current liabilities	871	840
Total current liabilities	2,829	2,478
Long-term debt	3,596	4,050
Pension and other benefit liabilities	1,373	1,566
Post-retirement medical benefits	277	340
Other long-term liabilities	481	497
Total Liabilities	8,556	8,931
Commitments and Contingencies (See Note 21)
Noncontrolling Interests (See Note 5)	10	0
Convertible Preferred Stock	214	214
Common stock	168	198
Additional paid-in capital	1,802	2,445
Treasury stock, at cost	(177)	0
Retained earnings	5,631	6,281
Accumulated other comprehensive loss	(2,988)	(3,332)
Xerox Holdings shareholders’ equity	4,436	5,592
Noncontrolling interests	7	4
Total Equity	4,443	5,596
Total Liabilities and Equity	$ 13,223	$ 14,741
Shares of common stock issued (in shares)	168,069	198,386
Treasury stock (in shares)	(8,675)	0
Shares of common stock outstanding (in shares)	159,394	198,386

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for billed portions of finance receivables	$ 4	$ 4
Allowance for finance receivables due after one year	114	129
Accounts Receivable
Allowance for accounts receivable	$ 58	$ 69	$ 55

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities
Net (loss) income	$ (455)	$ 192	$ 1,361
Income from discontinued operations, net of tax	0	0	(710)
(Loss) income from continuing operations	(455)	192	651
Adjustments required to reconcile Net (loss) income to Cash flows from operating activities
Depreciation and amortization	327	368	430
Provisions	46	147	73
Deferred tax (benefit) expense	(89)	34	124
Net gain on sales of businesses and assets	(40)	(30)	(21)
Goodwill impairment	781	0	0
Stock-based compensation	54	42	50
Restructuring and asset impairment charges	27	87	127
Payments for restructurings	(72)	(81)	(93)
Defined benefit pension cost	(10)	58	109
Contributions to defined benefit pension plans	(135)	(139)	(141)
Decrease in accounts receivable and billed portion of finance receivables	41	369	10
Decrease (increase) in inventories	88	(134)	109
Increase in equipment on operating leases	(129)	(118)	(153)
Decrease in finance receivables	20	183	101
Decrease (increase) in other current and long-term assets	68	8	(14)
Increase (decrease) in accounts payable	118	(123)	(47)
Decrease in accrued compensation	(95)	(189)	(94)
Increase (decrease) in other current and long-term liabilities	89	(165)	40
Net change in income tax assets and liabilities	10	(2)	(34)
Net change in derivative assets and liabilities	2	1	11
Other operating, net	(17)	40	6
Net cash provided by operating activities of continuing operations	629	548	1,244
Net cash provided by operating activities of discontinued operations	0	0	89
Net cash provided by operating activities	629	548	1,333
Cash Flows from Investing Activities
Cost of additions to land, buildings, equipment and software	(68)	(74)	(65)
Proceeds from sales of businesses and assets	44	30	21
Acquisitions, net of cash acquired	(53)	(203)	(42)
Other investing, net	(8)	1	1
Net cash used in investing activities of continuing operations	(85)	(246)	(85)
Net cash provided by investing activities of discontinued operations	0	0	2,233
Net cash (used in) provided by investing activities	(85)	(246)	2,148
Cash Flows from Financing Activities
Proceeds from issuance of long-term debt	311	2,359	10
Payments on long-term debt	(519)	(2,226)	(960)
Dividends	(206)	(230)	(243)
Payments to acquire treasury stock, including fees	(888)	(300)	(600)
Other financing, net	(8)	(19)	(41)
Net cash used in financing activities	(1,310)	(416)	(1,834)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(16)	10	0
(Decrease) increase in cash, cash equivalents and restricted cash	(782)	(104)	1,647
Cash, cash equivalents and restricted cash at beginning of year	2,691	2,795	1,148
Cash, cash equivalents and restricted cash at end of year	$ 1,909	$ 2,691	$ 2,795

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions		Total	Cumulative effect of change in accounting principle	Xerox Holdings Shareholders' Equity	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Retained EarningsCumulative effect of change in accounting principle	Other Comprehensive Income (Loss) Attributable to Xerox Holdings/Xerox		Other Comprehensive Income (Loss) Attributable to Xerox Holdings/XeroxCumulative effect of change in accounting principle	[1]	Noncontrolling Interest
Beginning balance at Dec. 31, 2018				$ 5,005	$ 232	$ 3,321	$ (55)	$ 5,072	$ 127	$ (3,565)	[1]	$ (127)
Noncontrolling interests beginning balance at Dec. 31, 2018														$ 34
Total equity beginning balance at Dec. 31, 2018		$ 5,039	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net attributable to Xerox Holding/Xerox		1,399		1,399				1,353		46	[1]
Comprehensive (loss) income, net														8
Comprehensive (loss) income, net		1,407
Cash dividends declared-common	[2]	(226)		(226)				(226)
Cash dividends declared-preferred	[3]	(14)		(14)				(14)
Stock option and incentive plans, net		23		23	1	22
Payments to acquire treasury stock, including fees		(600)		(600)			(600)
Cancellation of treasury stock		0			(18)	(561)	579
Distributions to noncontrolling interests		(3)												(3)
Divestiture	[4]	(32)												(32)
Ending balance at Dec. 31, 2019				5,587	215	2,782	(76)	6,312		(3,646)	[1]
Noncontrolling interests ending balance at Dec. 31, 2019														7
Total equity ending balance at Dec. 31, 2019		5,594								(3,646)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net attributable to Xerox Holding/Xerox		506		506				192		314	[1]
Comprehensive (loss) income, net		506
Cash dividends declared-common	[2]	(209)		(209)				(209)
Cash dividends declared-preferred	[3]	(14)		(14)				(14)
Stock option and incentive plans, net		22		22	1	21
Payments to acquire treasury stock, including fees		(300)		(300)			(300)
Cancellation of treasury stock		0			(18)	(358)	376
Distributions to noncontrolling interests		(3)												(3)
Ending balance at Dec. 31, 2020		5,592		5,592	198	2,445	0	6,281		(3,332)	[1]
Noncontrolling interests ending balance at Dec. 31, 2020		4												4
Total equity ending balance at Dec. 31, 2020		5,596								(3,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net attributable to Xerox Holding/Xerox		(111)		(111)				(455)		344	[1]
Comprehensive (loss) income, net		(111)
Cash dividends declared-common	[2]	(181)		(181)				(181)
Cash dividends declared-preferred	[3]	(14)		(14)				(14)
Stock option and incentive plans, net		37		37	2	35
Payments to acquire treasury stock, including fees		(888)		(888)			(888)
Cancellation of treasury stock		0			(32)	(679)	711
Investment form noncontrolling interests	[5]	5		1		1								4
Distributions to noncontrolling interests		(1)												(1)
Ending balance at Dec. 31, 2021		4,436		$ 4,436	$ 168	$ 1,802	$ (177)	$ 5,631		(2,988)	[1]
Noncontrolling interests ending balance at Dec. 31, 2021		7												$ 7
Total equity ending balance at Dec. 31, 2021		$ 4,443								$ (2,988)
[1]	AOCL - Accumulated other comprehensive loss.
[2]	Cash dividends declared on common stock for 2021, 2020 and 2019 were $0.25 per share on a quarterly basis and $1.00 per share on an annual basis.
[3]	Cash dividends declared on preferred stock for 2021, 2020 and 2019 were $20 per share on a quarterly basis and $80 per share on an annual basis.
[4]	Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies and Note 6 - Divestitures for additional information regarding divestitures.
[5]	Refer to Note 5 - Acquisitions and Investments for additional information regarding this noncontrolling interests.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in dollars per share)	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 1	$ 1	$ 1
Dividends per preferred share (in dollars per share)	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 20	$ 80	$ 80	$ 80

Consolidated Statements of (L_2

Consolidated Statements of (Loss) Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Total Revenues	$ 7,038	$ 7,022	$ 9,066
Costs and Expenses
Cost of financing	111	121	131
Research, development and engineering expenses	310	311	373
Selling, administrative and general expenses	1,718	1,851	2,085
Goodwill impairment	781	0	0
Restructuring and related costs, net	38	93	229
Amortization of acquired intangible assets	55	56	45
Transaction and related costs, net	0	18	12
Other expenses, net	24	(45)	(84)
Total Costs and Expenses	7,513	6,770	8,244
Income before Income Taxes and Equity (Loss) Income	(475)	252	822
Income tax (benefit) expense	(17)	64	179
Equity in net income of unconsolidated affiliates	3	4	8
(Loss) Income from Continuing Operations	(455)	192	651
Income from discontinued operations, net of tax	0	0	710
Net (Loss) Income	(455)	192	1,361
Less: Income from continuing operations attributable to noncontrolling interests	0	0	3
Less: Income from discontinued operations attributable to noncontrolling interests	0	0	5
Net (Loss) Income Attributable to Xerox Holdings	(455)	192	1,353
(Loss) Income from continuing operations	(455)	192	648
Income from discontinued operations	0	0	705
Sales
Revenues
Total Revenues	2,582	2,449	3,227
Costs and Expenses
Cost of goods and services sold	1,862	1,742	2,097
Services, maintenance and rentals
Revenues
Total Revenues	4,235	4,347	5,595
Costs and Expenses
Cost of goods and services sold	2,662	2,533	3,188
Financing
Revenues
Total Revenues	221	226	244
Xerox Corporation
Revenues
Total Revenues	7,038	7,022	9,066
Costs and Expenses
Cost of financing	111	121	131
Research, development and engineering expenses	310	311	373
Selling, administrative and general expenses	1,718	1,851	2,085
Goodwill impairment	781	0	0
Restructuring and related costs, net	38	93	229
Amortization of acquired intangible assets	55	56	45
Transaction and related costs, net	0	18	12
Other expenses, net	(24)	45	84
Total Costs and Expenses	7,513	6,770	8,244
Income before Income Taxes and Equity (Loss) Income	(475)	252	822
Income tax (benefit) expense	(17)	64	179
Equity in net income of unconsolidated affiliates	3	4	8
(Loss) Income from Continuing Operations	(455)	192	651
Income from discontinued operations, net of tax	0	0	710
Net (Loss) Income	(455)	192	1,361
Less: Income from continuing operations attributable to noncontrolling interests	0	0	3
Less: Income from discontinued operations attributable to noncontrolling interests	0	0	5
Net (Loss) Income Attributable to Xerox Holdings	(455)	192	1,353
(Loss) Income from continuing operations	(455)	192	648
Income from discontinued operations	0	0	705
Xerox Corporation | Sales
Revenues
Total Revenues	2,582	2,449	3,227
Costs and Expenses
Cost of goods and services sold	1,862	1,742	2,097
Xerox Corporation | Services, maintenance and rentals
Revenues
Total Revenues	4,235	4,347	5,595
Costs and Expenses
Cost of goods and services sold	2,662	2,533	3,188
Xerox Corporation | Financing
Revenues
Total Revenues	$ 221	$ 226	$ 244

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net (Loss) Income		$ (455)	$ 192	$ 1,361
Less: Income from continuing operations attributable to noncontrolling interests		0	0	3
Less: Income from discontinued operations attributable to noncontrolling interests		0	0	5
Net (Loss) Income Attributable to Xerox Holdings		(455)	192	1,353
Translation adjustments, net	[1]	(141)	241	62
Unrealized (losses) gains, net	[1]	(4)	4	(6)
Changes in defined benefit plans, net	[1]	489	69	(10)
Other Comprehensive Income , Net Attributable Xerox Holdings	[1]	344	314	46
Comprehensive (loss) income, net		(111)	506	1,407
Less: Comprehensive income, net from continuing operations attributable to noncontrolling interests		0	0	3
Less: Comprehensive income, net from discontinued operations attributable to noncontrolling interests		0	0	5
Comprehensive (Loss) Income, Net Attributable to Xerox Holdings		(111)	506	1,399
Xerox Corporation
Net (Loss) Income		(455)	192	1,361
Less: Income from continuing operations attributable to noncontrolling interests		0	0	3
Less: Income from discontinued operations attributable to noncontrolling interests		0	0	5
Net (Loss) Income Attributable to Xerox Holdings		(455)	192	1,353
Translation adjustments, net	[2]	(141)	241	62
Unrealized (losses) gains, net	[2]	(4)	4	(6)
Changes in defined benefit plans, net	[2]	489	69	(10)
Other Comprehensive Income , Net Attributable Xerox Holdings	[2]	344	314	46
Comprehensive (loss) income, net		(111)	506	1,407
Less: Comprehensive income, net from continuing operations attributable to noncontrolling interests		0	0	3
Less: Comprehensive income, net from discontinued operations attributable to noncontrolling interests		0	0	5
Comprehensive (Loss) Income, Net Attributable to Xerox Holdings		$ (111)	$ 506	$ 1,399
[1]	Refer to Note 25 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.
[2]	Refer to Note 25 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.

Consolidated Balance Sheets_2

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 1,840	$ 2,625
Accounts receivable (net of allowance of $58 and $69, respectively)	818	883
Billed portion of finance receivables (net of allowance of $4 and $4, respectively)	94	99
Finance receivables, net	1,042	1,082
Inventories	696	843
Other current assets	211	251
Total current assets	4,701	5,783
Finance receivables due after one year (net of allowance of $114 and $129, respectively)	1,934	1,984
Equipment on operating leases, net	253	296
Land, buildings and equipment, net	358	407
Intangible assets, net	211	237
Goodwill	3,287	4,071
Deferred tax assets	519	508
Other long-term assets	1,960	1,455
Total Assets	13,223	14,741
Liabilities and Equity
Short-term debt and current portion of long-term debt	650	394
Accounts payable	1,069	983
Accrued compensation and benefits costs	239	261
Accrued expenses and other current liabilities	871	840
Total current liabilities	2,829	2,478
Long-term debt	3,596	4,050
Pension and other benefit liabilities	1,373	1,566
Post-retirement medical benefits	277	340
Other long-term liabilities	481	497
Total Liabilities	8,556	8,931
Commitments and Contingencies (See Note 21)
Noncontrolling Interests (See Note 5)	10	0
Additional paid-in capital	1,802	2,445
Retained earnings	5,631	6,281
Accumulated other comprehensive loss	(2,988)	(3,332)
Xerox Holdings shareholders’ equity	4,436	5,592
Noncontrolling interests	7	4
Total Equity	4,443	5,596
Total Liabilities and Equity	13,223	14,741
Xerox Corporation
Assets
Cash and cash equivalents	1,840	2,625
Accounts receivable (net of allowance of $58 and $69, respectively)	818	883
Billed portion of finance receivables (net of allowance of $4 and $4, respectively)	94	99
Finance receivables, net	1,042	1,082
Inventories	696	843
Other current assets	211	251
Total current assets	4,701	5,783
Finance receivables due after one year (net of allowance of $114 and $129, respectively)	1,934	1,984
Equipment on operating leases, net	253	296
Land, buildings and equipment, net	358	407
Intangible assets, net	211	237
Goodwill	3,287	4,071
Deferred tax assets	519	508
Other long-term assets	1,952	1,455
Total Assets	13,215	14,741
Liabilities and Equity
Short-term debt and current portion of long-term debt	650	394
Accounts payable	1,069	983
Accrued compensation and benefits costs	239	261
Accrued expenses and other current liabilities	823	749
Total current liabilities	2,781	2,387
Long-term debt	2,102	2,557
Related party debt	1,494	0
Pension and other benefit liabilities	1,373	1,566
Post-retirement medical benefits	277	340
Other long-term liabilities	481	497
Total Liabilities	8,508	7,347
Commitments and Contingencies (See Note 21)
Noncontrolling Interests (See Note 5)	10	0
Additional paid-in capital	3,202	4,888
Retained earnings	4,476	5,834
Accumulated other comprehensive loss	(2,988)	(3,332)
Xerox Holdings shareholders’ equity	4,690	7,390
Noncontrolling interests	7	4
Total Equity	4,697	7,394
Total Liabilities and Equity	$ 13,215	$ 14,741

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Allowance for billed portions of finance receivables	$ 4	$ 4
Allowance for finance receivables due after one year	114	129
Accounts Receivable
Allowance for accounts receivable	58	69
Xerox Corporation
Allowance for billed portions of finance receivables	4	4
Allowance for finance receivables due after one year	114	129
Xerox Corporation | Accounts Receivable
Allowance for accounts receivable	$ 58	$ 69

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities
Net (loss) income	$ (455)	$ 192	$ 1,361
Income from discontinued operations, net of tax	0	0	(710)
(Loss) income from continuing operations	(455)	192	651
Adjustments required to reconcile Net (loss) income to Cash flows from operating activities
Depreciation and amortization	327	368	430
Provisions	46	147	73
Deferred tax (benefit) expense	(89)	34	124
Net gain on sales of businesses and assets	(40)	(30)	(21)
Stock-based compensation	54	42	50
Restructuring and asset impairment charges	27	87	127
Payments for restructurings	(72)	(81)	(93)
Defined benefit pension cost	(10)	58	109
Contributions to defined benefit pension plans	(135)	(139)	(141)
Decrease in accounts receivable and billed portion of finance receivables	41	369	10
Decrease (increase) in inventories	88	(134)	109
Increase in equipment on operating leases	(129)	(118)	(153)
Decrease in finance receivables	20	183	101
Decrease (increase) in other current and long-term assets	68	8	(14)
Increase (decrease) in accounts payable	118	(123)	(47)
Decrease in accrued compensation	(95)	(189)	(94)
Increase (decrease) in other current and long-term liabilities	89	(165)	40
Net change in income tax assets and liabilities	10	(2)	(34)
Net change in derivative assets and liabilities	2	1	11
Other operating, net	(17)	40	6
Net cash provided by operating activities of continuing operations	629	548	1,244
Net cash provided by operating activities of discontinued operations	0	0	89
Net cash provided by operating activities	629	548	1,333
Cash Flows from Investing Activities
Cost of additions to land, buildings, equipment and software	(68)	(74)	(65)
Proceeds from sales of businesses and assets	44	30	21
Acquisitions, net of cash acquired	(53)	(203)	(42)
Other investing, net	(8)	1	1
Net cash used in investing activities of continuing operations	(85)	(246)	(85)
Net cash provided by investing activities of discontinued operations	0	0	2,233
Net cash (used in) provided by investing activities	(85)	(246)	2,148
Cash Flows from Financing Activities
Proceeds from issuance of long-term debt	311	2,359	10
Payments on long-term debt	(519)	(2,226)	(960)
Dividends	(206)	(230)	(243)
Payments to acquire treasury stock, including fees	(888)	(300)	(600)
Other financing, net	(8)	(19)	(41)
Net cash used in financing activities	(1,310)	(416)	(1,834)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(16)	10	0
(Decrease) increase in cash, cash equivalents and restricted cash	(782)	(104)	1,647
Cash, cash equivalents and restricted cash at beginning of year	2,691	2,795	1,148
Cash, cash equivalents and restricted cash at end of year	1,909	2,691	2,795
Xerox Corporation
Cash Flows from Operating Activities
Net (loss) income	(455)	192	1,361
Income from discontinued operations, net of tax	0	0	(710)
(Loss) income from continuing operations	(455)	192	651
Adjustments required to reconcile Net (loss) income to Cash flows from operating activities
Depreciation and amortization	327	368	430
Provisions	46	147	73
Deferred tax (benefit) expense	(89)	34	124
Net gain on sales of businesses and assets	(40)	(30)	(21)
Stock-based compensation	54	42	50
Restructuring and asset impairment charges	27	87	127
Payments for restructurings	(72)	(81)	(93)
Defined benefit pension cost	(10)	58	109
Contributions to defined benefit pension plans	(135)	(139)	(141)
Decrease in accounts receivable and billed portion of finance receivables	41	369	10
Decrease (increase) in inventories	88	(134)	109
Increase in equipment on operating leases	(129)	(118)	(153)
Decrease in finance receivables	20	183	101
Decrease (increase) in other current and long-term assets	68	8	(14)
Increase (decrease) in accounts payable	118	(123)	(47)
Decrease in accrued compensation	(95)	(189)	(94)
Increase (decrease) in other current and long-term liabilities	89	(165)	40
Net change in income tax assets and liabilities	10	(2)	(34)
Net change in derivative assets and liabilities	2	1	11
Other operating, net	(17)	40	6
Net cash provided by operating activities of continuing operations	629	548	1,244
Net cash provided by operating activities of discontinued operations	0	0	89
Net cash provided by operating activities	629	548	1,333
Cash Flows from Investing Activities
Cost of additions to land, buildings, equipment and software	(68)	(74)	(65)
Proceeds from sales of businesses and assets	44	30	21
Acquisitions, net of cash acquired	(53)	(203)	(42)
Other investing, net	0	1	1
Net cash used in investing activities of continuing operations	(77)	(246)	(85)
Net cash provided by investing activities of discontinued operations	0	0	2,233
Net cash (used in) provided by investing activities	(77)	(246)	2,148
Cash Flows from Financing Activities
Proceeds from issuance of long-term debt	311	852	10
Payments on long-term debt	(519)	(2,213)	(960)
Dividends	0	0	(181)
Payments to acquire treasury stock, including fees	0	0	(300)
Contributions from parent	0	1,494	0
Distributions to parent	(1,120)	(549)	(373)
Other financing, net	10	0	(30)
Net cash used in financing activities	(1,318)	(416)	(1,834)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(16)	10	0
(Decrease) increase in cash, cash equivalents and restricted cash	(782)	(104)	1,647
Cash, cash equivalents and restricted cash at beginning of year	2,691	2,795	1,148
Cash, cash equivalents and restricted cash at end of year	$ 1,909	$ 2,691	$ 2,795

Consolidated Statements of Sh_3

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions		Total		Cumulative effect of change in accounting principle	Xerox Holdings Shareholders' Equity		Common Stock	Additional Paid-in Capital		Treasury Stock	Retained Earnings	Retained EarningsCumulative effect of change in accounting principle	Other Comprehensive Income (Loss) Attributable to Xerox Holdings/Xerox		Other Comprehensive Income (Loss) Attributable to Xerox Holdings/XeroxCumulative effect of change in accounting principle	[1]	Noncontrolling Interest		Xerox Corporation		Xerox CorporationCumulative effect of change in accounting principle	Xerox CorporationXerox Holdings Shareholders' Equity		Xerox CorporationCommon Stock	Xerox CorporationAdditional Paid-in Capital		Xerox CorporationTreasury Stock	Xerox CorporationRetained Earnings		Xerox CorporationRetained EarningsCumulative effect of change in accounting principle	Xerox CorporationOther Comprehensive Income (Loss) Attributable to Xerox Holdings/Xerox	[2]	Xerox CorporationOther Comprehensive Income (Loss) Attributable to Xerox Holdings/XeroxCumulative effect of change in accounting principle	Xerox CorporationNoncontrolling Interest
Beginning balance at Dec. 31, 2018					$ 5,005		$ 232	$ 3,321		$ (55)	$ 5,072	$ 127	$ (3,565)	[1]	$ (127)							$ 5,005		$ 232	$ 3,321		$ (55)	$ 5,072		$ 127	$ (3,565)		$ (127)
Noncontrolling interests beginning balance at Dec. 31, 2018																	$ 34																	$ 34
Total equity beginning balance at Dec. 31, 2018		$ 5,039		$ 0															$ 5,039		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net attributable to Xerox Holding/Xerox		1,399			1,399						1,353		46	[1]					1,399			1,399						1,353			46
Comprehensive (loss) income, net																	8																	8
Comprehensive (loss) income, net		1,407																	1,407
Cash dividends declared-common	[3]	(226)			(226)						(226)								(115)			(115)						(115)
Cash dividends declared-preferred	[4]	(14)			(14)						(14)								(7)			(7)						(7)
Dividends declared to parent																			(183)			(183)						(183)
Transfers (to) from parent																			(175)			(175)			(175)
Stock option and incentive plans, net		23			23		1	22											18			18		0	18
Payments to acquire treasury stock, including fees		(600)			(600)					(600)									(300)			(300)					(300)
Cancellation of treasury stock		0					(18)	(561)		579									0					(11)	(344)		355
Distributions to noncontrolling interests		(3)															(3)		(3)															(3)
Reorganization																			225			225		(221)	446
Divestiture	[5]	(32)															(32)
Ending balance at Dec. 31, 2019					5,587		215	2,782		(76)	6,312		(3,646)	[1]								5,867		0	3,266		0	6,247			(3,646)
Noncontrolling interests ending balance at Dec. 31, 2019																	7																	7
Total equity ending balance at Dec. 31, 2019		5,594											(3,646)						5,874
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net attributable to Xerox Holding/Xerox		506			506						192		314	[1]					506			506						192			314
Comprehensive (loss) income, net		506																	506
Cash dividends declared-common	[3]	(209)			(209)						(209)
Cash dividends declared-preferred	[4]	(14)			(14)						(14)
Dividends declared to parent																			(605)			(605)						(605)
Intercompany loan capitalization	[6]																		1,494			1,494			1,494
Transfers (to) from parent																			128			128			128
Stock option and incentive plans, net		22			22		1	21
Payments to acquire treasury stock, including fees		(300)			(300)					(300)
Cancellation of treasury stock		0					(18)	(358)		376
Distributions to noncontrolling interests		(3)															(3)		(3)															(3)
Ending balance at Dec. 31, 2020		5,592			5,592		198	2,445		0	6,281		(3,332)	[1]					7,390			7,390		0	4,888		0	5,834			(3,332)
Noncontrolling interests ending balance at Dec. 31, 2020		4															4		4															4
Total equity ending balance at Dec. 31, 2020		5,596											(3,332)						7,394
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss), net attributable to Xerox Holding/Xerox		(111)			(111)						(455)		344	[1]					(111)			(111)						(455)			344
Comprehensive (loss) income, net		(111)																	(111)
Cash dividends declared-common	[3]	(181)			(181)						(181)
Cash dividends declared-preferred	[4]	(14)			(14)						(14)
Dividends declared to parent																			(903)			(903)						(903)	[4]
Intercompany loan capitalization	[7]																		(1,494)			(1,494)			(1,494)
Transfers (to) from parent																			(193)			(193)			(193)
Stock option and incentive plans, net		37			37		2	35
Payments to acquire treasury stock, including fees		(888)			(888)					(888)
Cancellation of treasury stock		0					(32)	(679)		711
Distributions to noncontrolling interests		(1)															(1)		(1)															(1)
Investment form noncontrolling interests		5	[8]		1	[8]		1	[8]								4	[8]	5	[9]		1	[9]		1	[9]								4	[9]
Ending balance at Dec. 31, 2021		4,436			$ 4,436		$ 168	$ 1,802		$ (177)	$ 5,631		(2,988)	[1]					4,690			$ 4,690		$ 0	$ 3,202		$ 0	$ 4,476			$ (2,988)
Noncontrolling interests ending balance at Dec. 31, 2021		7															$ 7		7															$ 7
Total equity ending balance at Dec. 31, 2021		$ 4,443											$ (2,988)						$ 4,697
[1]	AOCL - Accumulated other comprehensive loss.
[2]	AOCL - Accumulated other comprehensive loss.
[3]	Cash dividends declared on common stock for 2021, 2020 and 2019 were $0.25 per share on a quarterly basis and $1.00 per share on an annual basis.
[4]	Cash dividends declared on preferred stock for 2021, 2020 and 2019 were $20 per share on a quarterly basis and $80 per share on an annual basis.
[5]	Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies and Note 6 - Divestitures for additional information regarding divestitures.
[6]	Primarily represents the contribution by Xerox Holdings Corporation of aggregate net debt proceeds received from its Senior Notes offerings in the third quarter of 2020 to Xerox Corporation. Refer to Note 16 - Debt for additional information regarding the Senior Notes offerings.
[7]	Refer to Note 16 - Debt for information regarding capitalization of balance to Intercompany Loan with Xerox Holdings Corporation.
[8]	Refer to Note 5 - Acquisitions and Investments for additional information regarding this noncontrolling interests.
[9]	Refer to Note 5 - Acquisitions and Investments for additional information regarding this investment from noncontrolling interests.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies References to “Xerox Holdings” refer to Xerox Holdings Corporation and its consolidated subsidiaries while references to “Xerox” refer to Xerox Corporation and its consolidated subsidiaries. References herein to “we,” “us,” “our,” the “Company” refer collectively to both Xerox Holdings and Xerox unless the context suggests otherwise. References to “Xerox Holdings Corporation” refer to the stand-alone parent company and do not include its subsidiaries. References to “Xerox Corporation” refer to the stand-alone company and do not include its subsidiaries. The accompanying Consolidated Financial Statements and footnotes represent the respective consolidated results and financial results of Xerox Holdings and Xerox and all respective companies that each registrant directly or indirectly controls, either through majority ownership or otherwise. This is a combined report of Xerox Holdings and Xerox, which includes separate Consolidated Financial Statements for each registrant. The accompanying Consolidated Financial Statements of both Xerox Holdings and Xerox have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Notes to the Consolidated Financial Statements reflect the activity for both Xerox Holdings and Xerox for all periods presented, unless otherwise noted. Description of Business Currently, Xerox Holdings' primary direct operating subsidiary is Xerox and therefore Xerox represents nearly all of Xerox Holdings' operations. Xerox is a global enterprise for document management solutions. We provide advanced document technology, services, software and genuine Xerox supplies for a range of customers including small and mid-size businesses, large enterprises, governments and graphic communications providers, and for our partners who serve them. We operate in approximately 160 countries worldwide. Xerox Holdings' other direct subsidiary is Xerox Ventures LLC, which was established in 2021 solely to invest in startups and early/mid-stage growth companies aligned with the Company’s innovation focus areas and targeted adjacencies. Xerox Ventures LLC had investments of approximately $8 at December 31, 2021. Basis of Consolidation All significant intercompany accounts and transactions have been eliminated. Investments in business entities in which we do not have control, but we have the ability to exercise significant influence over operating and financial policies (generally 20% to 50% ownership) are accounted for using the equity method of accounting. Operating results of acquired businesses are included in the Consolidated Statements of (Loss) Income from the date of acquisition. We consolidate variable interest entities if we are deemed to be the primary beneficiary of the entity. Operating results for variable interest entities in which we are determined to be the primary beneficiary are included in the Consolidated Statements of (Loss) Income from the date such determination is made. For convenience and ease of reference, we refer to the financial statement caption “Income before Income Taxes and Equity Income” as “pre-tax (loss) income” throughout the Notes to the Consolidated Financial Statements. Transfer of CareAR Holdings LLC to Xerox In August 2021, in connection with Xerox Holdings Corporation's announcement of the formation of the CareAR software business, the ownership of CareAR Holdings LLC was transferred from Xerox Holdings Corporation to Xerox Corporation. The transfer was accounted for as a transfer of an entity under common control with retrospective adjustment of Xerox's prior period financial statements to reflect the ownership of the business from its acquisition in the fourth quarter 2020. The impact of this retrospective adjustment was not material to Xerox as the acquisition value was $9 and the entity incurred approximately $1 of expenses in 2020. Discontinued Operations In November 2019, Xerox Holdings completed a series of transactions to restructure its relationship with FUJIFILM Holdings Corporation (FH), including the sale of its indirect 25% equity interest in Fuji Xerox (now known as FUJIFILM Business Innovation Corp.) as well as the sale of its indirect 51% partnership interest in Xerox International Partners (XIP) (collectively the Sales). As a result of the Sales of FX and XIP and the related strategic shift in our business, the historical financial results of our equity method investment in FX and our XIP business (which was consolidated) for 2019 are reflected as a discontinued operation and as such, their impact is excluded from continuing operations for 2019. The historical statements of Comprehensive Income and Shareholders' Equity have not been revised to reflect the Sales and instead reflect the Sales as an adjustment to the balances at December 31, 2019. Refer to Note 6 - Divestitures for additional information regarding discontinued operations. Use of Estimates The preparation of our Consolidated Financial Statements requires that we make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Future events and their effects cannot be predicted with certainty; accordingly, our accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of our Consolidated Financial Statements will change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. Our estimates are based on management's best available information including current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. As a result, actual results may be different from these estimates. In the ordinary course of accounting for the items discussed above, we make changes in estimates as appropriate and as we become aware of new or revised circumstances surrounding those estimates. Such changes and refinements in estimation methodologies are reflected in reported results of operations in the period in which the changes are made and, if material, their effects are disclosed in the Notes to the Consolidated Financial Statements and in Management's Discussion and Analysis of Financial Condition and Results of Operations. As of December 31, 2021, the impact of the COVID-19 pandemic continues to have varying and divergent impacts across various regions and countries in which we operate and a degree of economic uncertainty still remains. We expect the pandemic's effects will likely continue to impact our financial results into at least the first half of 2022. Accordingly, many of our estimates and assumptions continue to require a greater degree of judgment and may change in the future as events continue to evolve and additional information becomes available. New Accounting Standards and Accounting Changes Except for the Accounting Standard Updates (ASUs) discussed below, the new ASUs issued by the FASB during the last two years did not have any significant impact on the Company. Accounting Standard Updates to be Adopted: Government Assistance In November 2021, the FASB issued ASU 2021-10 , Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance. The update increases the transparency surrounding government assistance by requiring disclosure of 1) the types of assistance received, 2) an entity’s accounting for the assistance, and 3) the effect of the assistance on the entity’s financial statements. We expect to adopt this update effective for our fiscal year beginning January 1, 2022. We are currently evaluating the impact of the adoption of this update on our Consolidated Financial Statements, which will largely depend on the amounts of government assistance expected to be received in the future. However, prior to the COVID pandemic, the amounts of government assistance the Company received were not material and since the update is limited to increased disclosures, we do not expect the adoption to have a material impact on our financial condition, results of operations, and cash flows. Business Combinations In October 2021, the FASB issued ASU 2021-08 , Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The new guidance requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC Topic 606, Revenue from Contracts with Customers , as if the acquirer had originated the contracts. This approach differs from the current requirement to measure contract assets and contract liabilities acquired in a business combination at fair value. This update is effective for our fiscal year beginning January 1, 2023, with early adoption permitted. The impact of adopting the new standard will depend on the magnitude of future acquisitions. The standard will not impact contract assets or liabilities acquired in business combinations that occurred prior to the adoption date. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04 , Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (LIBOR) or by another reference rate expected to be discontinued. In January 2021, the FASB issued ASU 2021-01 , Reference Rate Reform (Topic 848), Scope, which provided clarification to ASU 2020-04. These ASUs were effective commencing with our quarter ended March 31, 2020 and will continue through December 31, 2022. There has been no impact to date as a result of adopting ASU 2020-04 or ASU 2021-01 and subsequent amendments on reference rate reform. However, we continue to evaluate potential future impacts that may result from the discontinuation of LIBOR or other reference rates as well as the accounting provided in this update on our financial condition, results of operations, and cash flows. Accounting Standard Updates Recently Adopted: Debt In August 2020, the FASB issued ASU 2020-06 , Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). This update simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. This update also amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions and requires the application of the if-converted method for calculating diluted earnings per share. We adopted this update effective for our fiscal year beginning January 1, 2022. The adoption of this standard did not have a material impact on our Consolidated Financial Statements and related disclosures. Income Taxes In December 2019, the FASB issued ASU 2019-12 , Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which was intended to simplify various aspects related to accounting for income taxes . ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We adopted this update effective for our fiscal year beginning January 1, 2021. The adoption did not have a material impact on our results of operations, financial position, cash flows or disclosures. Leases In April 2020, the FASB staff issued a question and answer (Q&A) document on the application of lease accounting guidance related to lease concessions provided as a result of the economic disruption caused by the COVID-19 pandemic (Topic 842 Q&A). Topic 842 Q&A provides interpretive guidance allowing companies the option to account for lease concessions related to the COVID-19 pandemic consistent with how those concessions would be accounted for under ASU 2016-02, Leases (Topic 842), discussed below, as though enforceable rights and obligations for those concessions existed at the beginning of the contract (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract). This interpretive guidance was issued in order to reduce the costs and complexities of applying lease modification accounting under Topic 842 to leases impacted by the effects of the COVID-19 pandemic. This election is available for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We have elected to apply the interpretive guidance provided in Topic 842 Q&A to rent concessions related to the COVID-19 pandemic provided as a Lessor to our customers and as received as a Lessee. Through September 30, 2020 we provided rent deferrals as a Lessor that were primarily offered to customers with sales type lease receivables. This special program was discontinued in the fourth quarter of 2020. We elected to account for the deferrals in the timing of lease payments as if there were no changes in the lease contracts. Under this approach, assuming that collectibility of future lease payments is still probable, the classification of the leases was not updated and we retained the balance of the deferral as a receivable and will settle that receivable at the revised payment date or dates. Through September 30, 2020, we approved payment deferrals of up to 3 months for approximately $33 or approximately 1% of our total finance receivable portfolio. Rent abatements to the extent provided were not material and were accounted for as write-offs as part of our normal bad debt reserve assessment. With respect to rent deferrals and abatements received as a Lessee, we elected to account for the deferrals and abatements as a resolution of a contingency within the lease. Under this approach, we follow the resolution of a contingency model in ASC 842 without reclassifying the lease or updating the discount rate. We remeasure the remaining consideration in the contract, reallocate it to the lease and non-lease components as applicable, and remeasure the lease liability with an adjustment to the right-of-use asset for the same amount. If the total lease payments remain exactly the same, the lease cost remains unchanged. The impact of this election was not material to our financial condition, results of operations or cash flows, as rent concessions provided to Xerox in 2021 or 2020 were not material, individually or in the aggregate. 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 such 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 in order 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 instead 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 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. Refer to Note 11 - Lessee for additional information related to our lessee accounting. Lessor accounting - the adoption of this update resulted in an increase to equipment sales by approximately $30 in 2019 as compared to 2018. Refer to Note 4 - Lessor for additional information related to our lessor accounting. Financial Instruments - Credit Losses On January 1, 2020, we adopted ASU 2016-13 , Financial Instruments Credit Losses - Measurement of Credit Losses on Financial Instruments. This update was issued by the FASB in June 2016, with additional updates and amendments being issued in 2018, 2019 and 2020 and requires measurement and recognition of expected credit losses for financial assets on an expected loss model rather than an incurred loss model. The update impacted financial assets including net investment in leases that are not accounted for at fair value through Net Income. The adoption of ASU 2016-13 primarily impacted the estimation of our Allowance for doubtful accounts for Accounts Receivable and Finance Receivables. The impact recorded on our initial adoption of ASU 2016-13 was not material as our previous methodology for assessing the adequacy of our Allowance for doubtful accounts for Finance Receivables, the larger component of our receivable reserves, incorporated an expected loss model and the methodology for both allowances included an assessment of current economic conditions. However, as previously disclosed, the future impact from this update is highly dependent on future economic conditions. Refer to Note 7 - Accounts Receivable, Net and Note 8 - Finance Receivables, Net for additional discussion regarding the impacts from the adoption of this update during the first quarter 2020. Intangibles - Internal-Use Software On January 1, 2020, we adopted 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 was issued by the FASB in August 2018 and 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. The adoption of ASU 2018-15 did not have a material impact on our financial condition, results of operations or cash flows as we had previously capitalized these implementation costs and such amounts were not material. Other Updates The FASB also issued the following Accounting Standards Updates, which have not had, and are not expected to have, a material impact on our financial condition, results of operations or cash flows upon adoption. • Equity Instruments: ASU 2021-04 , Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options). This update is effective for our fiscal year beginning January 1, 2022. • Leases: ASU 2021-05 , Leases - Certain Lease Payments with Variable Lease Payments (ASC 842). This update is effective for our fiscal year beginning January 1, 2022. • Investments: ASU 2020-01 , Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) . This update was effective for our fiscal year beginning January 1, 2021. • Compensation - Stock Compensation and Revenue from Contracts with Customers: ASU 2019-08 , (Topic 718) and (Topic 606) Codification Improvements - Share-Based Consideration Payable to a Customer. This update was effective for our fiscal year beginning January 1, 2020. Summary of Accounting Policies Revenue Recognition We generate revenue through the sale of equipment and supplies and by providing maintenance and printing services. Revenue is measured based on the consideration specified in a contract with a customer and is recognized when we satisfy a performance obligation by transferring control of a product to a customer or in the period the customer benefits from the service. With the exception of our sales-type lease arrangements, our invoices to the customer, which normally have short-term payment terms, are typically aligned to the transfer of goods or as services are rendered to our customers and therefore in most cases we recognize revenue based on our right to invoice customers. As a result of the application of this practical expedient for the substantial portion of our revenue, the disclosure of the value of unsatisfied performance obligations for our services is not required. Significant judgments primarily include the identification of performance obligations in our Document management services arrangements as well the pattern of delivery for those services. More specifically, revenue related to our products and services is generally recognized as follows: Equipment: Revenues from the sale of equipment directly to end-user customers, including those from sales-type leases (see below), are recognized when obligations under the terms of a contract with our customer are satisfied and control has been transferred to the customer. For equipment placements that require us to install the product at the customer location, revenue is normally recognized when the equipment has been delivered and installed at the customer location. Sales of customer installable products are recognized upon shipment or receipt by the customer according to the customer's shipping terms. Revenue from the equipment performance obligation also includes certain analyst training services performed in connection with the installation or delivery of the equipment . Maintenance services: We provide maintenance agreements on our equipment that include service and supplies for which the customer may pay a base minimum plus a price-per-page charge for usage. In arrangements that include minimums, those minimums are normally set below the customer’s estimated page volumes and are not considered substantive. These agreements are sold as part of a bundled lease arrangement or through distributors and resellers. We normally account for these maintenance agreements as a single performance obligation for printing services being delivered in a series with delivery being measured by usage as billed to the customer. Accordingly, revenue on these types of agreements is normally recognized as billed to the customer over the term of the agreements based on page volumes. A substantial portion of our products are sold with full service maintenance agreements, accordingly, other than the product warranty obligations associated with certain of our entry level products, we do not have any significant warranty obligations, including any obligations under customer satisfaction programs. Document management services: Revenues associated with our document management services are generally recognized as printing services are rendered, which is generally on the basis of the number of images produced. Revenues on unit-price contracts are recognized at the contractual selling prices as work is completed by the customer. We account for these arrangements as a single performance obligation for printing services being delivered in a series with delivery being measured by usage as billed to the customer . Our services contracts may also include the sale or lease of equipment and software. In these instances, we follow the policies noted for Equipment or Software Revenues and separately report the revenue associated with these performance obligations. Certain document management services arrangements may also include an embedded lease of equipment. In these instances, the revenues associated with the lease are recognized in accordance with the requirements for lease accounting. Sales to distributors and resellers: We utilize distributors and resellers to sell our equipment, supplies and maintenance services to end-user customers. We refer to our distributor and reseller network as our two-tier distribution model. Revenues on sales to distributors and resellers are generally recognized when products are shipped to such distributors and resellers. However, revenue is only recognized when the distributor or reseller has economic substance apart from the Company such that collectability is probable and we have no further obligations related to bringing about the resale, delivery or installation of the product that would impact transfer of control. Revenues associated with maintenance agreements sold through distributors and resellers to end-user customers are recognized in a consistent manner for maintenance services. Revenue that may be subject to a reversal of revenue due to contractual terms or uncertainties is not recorded as revenue until the contractual provisions lapse or the uncertainties are resolved. Distributors and resellers participate in various rebate, price-protection, cooperative marketing and other programs. We estimate the variable consideration associated with these programs and record those amounts as a reduction to revenue when sales occur. Similarly, we account for our estimates of sales returns and other allowances when sales occur based on our historical experience. In certain instances, we may provide lease financing to end-user customers who purchased equipment we sold to distributors or resellers. We are not obligated to provide financing and we compete with other third-party leasing companies with respect to the lease financing provided to these end-user customers. Software: Most of our equipment has both software and non-software components that function together to deliver the equipment's essential functionality and therefore they are accounted for together as part of Equipment sales revenues. Software accessories sold in connection with our Equipment sales, as well as free-standing software sales, are accounted for as separate performance obligations if determined to be material in relation to the overall arrangement. Revenue from software is not a significant component of our Total revenues. Supplies: Supplies revenue is recognized upon transfer of control to the customer, generally upon utilization or shipment to the customer in accordance with the sales contract terms. Financing: Finance income attributable to sales-type leases, direct financing leases and installment loans is recognized on the accrual basis using the effective interest method. Bundled Lease Arrangements: A portion of our direct sales of equipment to end-user 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 sales. 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 as well as other methodologies including a margin analysis during the applicable period. With respect to the analysis of cash sales, cash selling prices are compared to the range of values determined for our leases. The range of cash selling prices must be reasonably consisten

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenues disaggregated by primary geographic markets, major product lines, and sales channels are as follows: Year Ended December 31, 2021 2020 2019 Primary geographical markets (1) United States $ 3,982 $ 4,186 $ 5,429 Europe 2,023 1,883 2,326 Canada 398 393 518 Other 635 560 793 Total Revenues $ 7,038 $ 7,022 $ 9,066 Major product and services lines Equipment $ 1,581 $ 1,564 $ 2,062 Supplies, paper and other sales 1,001 885 1,165 Maintenance agreements (2) 1,787 1,803 2,372 Service arrangements (3) 1,991 2,014 2,517 Rental and other 457 530 706 Financing 221 226 244 Total Revenues $ 7,038 $ 7,022 $ 9,066 Sales channels: Direct equipment lease (4) $ 664 $ 573 $ 672 Distributors & resellers (5) 1,130 910 1,343 Customer direct 788 966 1,212 Total Sales $ 2,582 $ 2,449 $ 3,227 _____________ (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 arrangements. Also includes revenues from embedded operating leases in our Managed Services arrangements, which were not significant. (4) Primarily reflects sales through bundled lease arrangements. (5) 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 $144 and $130 at December 31, 2021 and 2020, respectively. The majority of the balance at December 31, 2021 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: Year Ended December 31, 2021 2020 2019 Incremental direct costs of obtaining a contract $ 61 $ 62 $ 78 Amortization of incremental direct costs 73 81 88 The balance of deferred incremental direct costs net of accumulated amortization at December 31, 2021 and 2020 was $132 and $145, 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. Amounts deferred associated with contract fulfillment costs and inducements were $15 and $13 at December 31, 2021 and 2020, respectively, and related amortization was $6, $4 and $5 for the three years ended December 31, 2021, 2020 and 2019, respectively. Equipment and software used in the fulfillment of service arrangements, and where the Company retains control, are capitalized and depreciated over the shorter of their useful life or the term of the contract if an asset is contract specific.

Segment and Geographic Area Rep

Segment and Geographic Area Reporting	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment and Geographic Area Reporting	Segment and Geographic Area Reporting Segment Discussion We manage our operations on a geographic basis and are primarily organized from a sales perspective on the basis of “go-to-market” sales channels. These sales channels are structured to serve a range of customers for our products and services. As a result of this structure, we concluded that for 2021 we had one operating and reportable segment - the design, development and sale of document management systems and solutions. Our chief executive officer was identified as the chief operating decision maker (CODM). All of the company’s activities are interrelated, and each activity is dependent upon and supportive of the other, including product development, supply chain and back-office support services. In addition, all significant operating decisions made by management and the Board, are largely based upon the analysis of Xerox Holdings and Xerox on a total company basis, including assessments related to our incentive compensation plans. Geographic Area Data Geographic area data is based upon the location of the subsidiary reporting the revenue or long-lived assets and is as follows: Revenues Long-Lived Assets (1) Year Ended December 31, As of December 31, 2021 2020 2019 2021 2020 United States $ 3,982 $ 4,186 $ 5,429 $ 638 $ 692 Europe 2,023 1,883 2,326 258 312 Canada 398 393 518 68 84 Other areas 635 560 793 32 43 Total $ 7,038 $ 7,022 $ 9,066 $ 996 $ 1,131 _____________

Lessor

Lessor	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Lessor	Lessor 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: Location in Statements of (Loss) Income Year Ended December 31, 2021 2020 2019 Revenue from sales type leases Sales $ 664 $ 573 $ 672 Interest income on lease receivables Financing 221 226 244 Lease income - operating leases Services, maintenance and rentals 246 313 396 Variable lease income Services, maintenance and rentals 62 66 107 Total Lease income $ 1,193 $ 1,178 $ 1,419 Profit at lease commencement on sales type leases was estimated to be approximately $221, $207 and $276 for the three years ended December 31, 2021, 2020 and 2019, respectively.
Lessor	Lessor 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: Location in Statements of (Loss) Income Year Ended December 31, 2021 2020 2019 Revenue from sales type leases Sales $ 664 $ 573 $ 672 Interest income on lease receivables Financing 221 226 244 Lease income - operating leases Services, maintenance and rentals 246 313 396 Variable lease income Services, maintenance and rentals 62 66 107 Total Lease income $ 1,193 $ 1,178 $ 1,419 Profit at lease commencement on sales type leases was estimated to be approximately $221, $207 and $276 for the three years ended December 31, 2021, 2020 and 2019, respectively.
Lessor	Lessor 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: Location in Statements of (Loss) Income Year Ended December 31, 2021 2020 2019 Revenue from sales type leases Sales $ 664 $ 573 $ 672 Interest income on lease receivables Financing 221 226 244 Lease income - operating leases Services, maintenance and rentals 246 313 396 Variable lease income Services, maintenance and rentals 62 66 107 Total Lease income $ 1,193 $ 1,178 $ 1,419 Profit at lease commencement on sales type leases was estimated to be approximately $221, $207 and $276 for the three years ended December 31, 2021, 2020 and 2019, respectively.

Acquisitions and Investments

Acquisitions and Investments	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Investments	Acquisitions and Investments The following table summarizes the purchase price allocations for our acquisitions as of the acquisition dates: Year Ended December 31, 2021 Year Ended December 31, 2020 Weighted-Average Life Acquisitions Weighted-Average Life Acquisitions Accounts/finance receivables $ 5 $ 20 Intangible assets: Customer relationships 9 years 27 9 years 69 Trademarks 5 years 3 9 years 9 Technology 3 years 1 3 years 9 Goodwill 25 111 Other assets 4 44 Total Assets acquired 65 262 Liabilities assumed (12) (59) Total Purchase Price $ 53 $ 203 2021 Acquisitions In 2021, Xerox continued its strategy of focusing on further penetrating the small-to-medium sized business (SMB) market through acquisitions of local area resellers and partners, including multi-brand dealers as well as companies with an adjacent or sole IT services business. During 2021, we acquired businesses associated with this initiative that totaled $50, net of cash acquired, which included an office equipment dealer in Canada for approximately $31, as well as two acquisitions in the U.S. for approximately $19. 2021 also included smaller acquisitions totaling approximately $3. All of our 2021 acquisitions resulted in 100% ownership of the acquired companies. The operating results of these acquisitions are not material to our financial statements and are included within our results from the respective acquisition dates. The purchase prices were all cash and were primarily allocated to Intangible assets, net and Goodwill, of which, none is expected to be deductible for tax purposes. 2020 Acquisitions Business acquisitions in 2020 totaled $194, net of cash acquired, and included three acquisitions in the U.K. for $172 (GBP 133 million) - Arena Group, Altodigital Networks and ITEC Connect, as well as an acquisition in Canada for approximately $22 (CAD 29 million). These acquisitions are expected to expand our presence in the SMB market in both Western Europe and Canada. 2020 also included the acquisition of CareAR for $9. All of our 2020 acquisitions resulted in 100% ownership of the acquired companies. The operating results of these acquisitions are not material to our financial statements and are included within our results from the respective acquisition dates. The purchase prices were all cash and were primarily allocated to Intangible assets, net and Goodwill, of which, none is expected to be deductible for tax purposes. 2019 Acquisitions Business acquisitions in 2019 totaled $38 and included Rabbit Office Automation (ROA), a San Francisco Bay area dealer, and Heritage Business Systems, Inc. (HBS), a Delaware Valley dealer. The acquisition of these dealers in 2019 expanded our distribution capabilities of office technology sales, services and supplies to SMB customers in these markets. 2019 acquisitions also include $4 related to an acquisition of assets. All of our 2019 acquisitions resulted in 100% ownership of the acquired companies. The operating results of the 2019 acquisitions are not material to our financial statements and were included within our results from the respective acquisition dates. The purchase prices for these acquisitions were all cash and were primarily allocated to Intangible assets, net and Goodwill. Revenue Summary Our acquisitions contributed aggregate revenues from their respective acquisition dates as follows: Year Ended December 31, Acquisition Year 2021 2020 2019 2021 $ 19 $ — $ — 2020 137 99 — 2019 17 21 18 Total Contributed Aggregate Revenue $ 173 $ 120 $ 18 Joint Venture Formation In May 2021, Xerox and the Victorian Government (AU) (VicGov) partnered to launch Eloque, a venture to commercialize new technology that will remotely monitor the structural health of critical infrastructure assets, such as road and railway bridges. Under the terms of the agreement, Xerox contributed approximately $5 in cash, along with technology and intellectual property for a controlling interest in the entity, whereas VicGov contributed approximately $5 in cash, along with technology and intellectual property for a noncontrolling interest in the entity. As a result of Xerox’s controlling interest in the newly formed entity, beginning with the second quarter 2021, Xerox consolidated the new entity and the VicGov investment was reported as a noncontrolling interest. The revenues and expenses of the new entity post formation did not materially impact the Company’s reported results for the year ended December 31, 2021. ServiceNow Inc. Investment in CareAR In August 2021, in connection with Xerox Holdings Corporation's formation of the CareAR software business, ServiceNow, Inc. acquired a noncontrolling interest in CareAR Holdings LLC for $10. CareAR Holdings LLC is a direct operating subsidiary of Xerox Corporation and includes Xerox’s XMPie, Inc., DocuShare LLC and CareAR, Inc. business units. ServiceNow’s investment includes a fair value redemption right, which is contingent on the non-occurrence of a future liquidity event (e.g., sale, public offering, spin-off, etc.) within 6 years of the closing of the investment. As a result of this contingent redemption right, we classified ServiceNow’s noncontrolling interest in CareAR Holdings LLC as temporary equity within Xerox’s Consolidated Balance Sheet.

Divestitures

Divestitures	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Discontinued Operations Sales of Ownership Interests in Fuji Xerox Co., Ltd. and Xerox International Partners In November 2019, Xerox Holdings completed a series of transactions to restructure its relationship with FUJIFILM Holdings Corporation (FH), including the sale of its indirect 25% equity interest in Fuji Xerox (now known as FUJIFILM Business Innovation Corp.) for approximately $2.2 billion as well as the sale of its indirect 51% partnership interest in Xerox International Partners (XIP) for approximately $23 (collectively the Sales). As a result of the Sales and the related strategic shift in our business, the financial results of our equity method investment in Fuji Xerox and our XIP business (which was consolidated) are reflected as a discontinued operation and as such, their impact is excluded from continuing operations for 2019. The Sales resulted in a pre-tax gain of $629 ($539 after-tax), and included a reclassification from Accumulated other comprehensive loss of $165 (Refer to Note 25 - Other Comprehensive Income (Loss)) as well as approximately $9 of transaction costs and $9 of allocated goodwill associated with our XIP business (Refer to Note 13 - Goodwill and Intangible Assets, Net). The XIP allocated goodwill was based on the relative fair value of our XIP business, as evidenced by the sales price, as compared to the total estimated fair value of Xerox. No Goodwill was allocated for our investment in Fuji Xerox based on consideration of the guidance in ASC 350-20-40-2 and the fact that an equity investment is not considered a business in accordance with ASC 805-10-55, as Fuji Xerox was not controlled by Xerox. The transactions with FH also included an OEM license agreement by and between Fuji Xerox and Xerox, granting Fuji Xerox the right to use specific Xerox Intellectual Property (IP) in providing certain named original equipment manufacturers (OEM’s) with products (such as printer engines) in exchange for a one-time upfront license fee of $77. The license fee is recorded within Rental and other revenues for 2019. Our Technology Agreement (TA) with Fuji Xerox expired on March 31, 2021. The TA included a provision that allowed Fuji Xerox continued use of the Xerox brand trademark for two years after the date of termination of the TA as it transitions to a new brand in exchange for an upfront prepaid fixed royalty of $100. Fuji Xerox elected to continue its use of the Xerox brand trademark over the two year period and, therefore, in April 2021, made the $100 upfront payment due under the TA, which is included in Operating cash flows for the year ended December 31, 2021. We are recognizing the revenue associated with this extended brand license ratably over the two year transition period in Service, maintenance and rental revenues. Accordingly, any potential entry by Xerox for Xerographic products into the Fuji Xerox territory under the Xerox brand will be deferred to at least April 1, 2023. The product supply agreements with Fuji Xerox will continue to be effective despite the termination of the TA, and Fuji Xerox and Xerox will continue to operate as each other’s product supplier under existing purchase/supply agreements. Prior to the sale of our investment in Fuji Xerox, pricing of the transactions under these arrangements were based on terms the Company believed to be negotiated at arm's length. Our purchase commitments with Fuji Xerox are in the normal course of business and typically have a lead time of three months. In addition, we pay Fuji Xerox and they pay us for unique research and development costs. There were no discontinued operations in 2021 or 2020, nor were there any adjustments to the 2019 Discontinued Operation. Summarized financial information for our Discontinued Operations is as follows: Year Ended December 31, 2019 Revenue $ 79 Income from operations $ 176 Gain on disposal 629 Income before income taxes 805 Income tax expense 95 Income from discontinued operations, net of tax 710 Income from discontinued operations attributable to noncontrolling interests, net of tax 5 Income from discontinued operations, attributable to Xerox, net of tax $ 705 The following is a summary of selected financial information for our Discontinued Operations: Year Ended December 31, 2019 Cost and Expenses: Cost of revenues $ 44 Other expenses 6 Total Costs and Expenses $ 50 Selected amounts included in Costs and Expenses: Depreciation and amortization $ — Restructuring and related costs, net — Other: Equity in net income of FX $ 147 Net income attributable to noncontrolling interest - XIP 5 Capital expenditures — Refer to Note 12 - Investments in Affiliates, at Equity for additional information regarding Fuji Xerox, including summarized financial information of Fuji Xerox.

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable, net were as follows: December 31, 2021 2020 Invoiced $ 660 $ 735 Accrued (1) 216 217 Allowance for doubtful accounts (58) (69) Accounts receivable, net $ 818 $ 883 ____________ (1) Accrued receivables includes amounts to be invoiced in the subsequent quarter for current services provided. The allowance for doubtful accounts was as follows: Balance at December 31, 2019 $ 55 Provision 35 Charge-offs (22) Recoveries and other (1) 1 Balance at December 31, 2020 $ 69 Provision 8 Charge-offs (18) Recoveries and other (1) (1) Balance at December 31, 2021 $ 58 _____________ (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. The allowance for doubtful accounts as a percentage of gross receivables was 6.6% at December 31, 2021 and 7.2% at December 31, 2020. The allowance for doubtful accounts as a percent of gross accounts receivable remains at an elevated level as compared to historical levels primarily as a result of the macroeconomic and market disruption caused by the COVID-19 pandemic. Accounts Receivable Sale Arrangements Accounts receivable sale 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, $102 and $136 remained uncollected as of December 31, 2021 and 2020, respectively. Accounts receivable sales activity was as follows: Year Ended December 31, 2021 2020 2019 Accounts receivable sales (1) $ 478 $ 333 $ 393 _____________ (1) Losses on sales were not material. 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 equipment. Finance receivables, net were as follows: December 31, 2021 2020 Gross receivables $ 3,568 $ 3,691 Unearned income (380) (393) Subtotal 3,188 3,298 Residual values — — Allowance for doubtful accounts (118) (133) Finance Receivables, Net 3,070 3,165 Less: Billed portion of finance receivables, net 94 99 Less: Current portion of finance receivables not billed, net 1,042 1,082 Finance Receivables Due After One Year, Net $ 1,934 $ 1,984 A summary of our gross finance receivables' future contractual maturities, including those previously billed, is as follows: December 31, 2021 2020 12 Months $ 1,357 $ 1,426 24 Months 972 1,006 36 Months 668 697 48 Months 396 395 60 Months 157 152 Thereafter 18 15 Total $ 3,568 $ 3,691 Finance Receivables - Allowance for Credit Losses and Credit Quality Our finance receivable portfolios are primarily in the U.S., Canada and EMEA. We generally establish customer credit limits and estimate the allowance for credit losses on a country or geographic basis. Customer credit limits are based upon an initial evaluation of the customer's credit quality and we adjust that limit accordingly based upon ongoing credit assessments of the customer, including payment history and changes in credit quality. The allowance for doubtful credit losses as a percentage of gross financial receivables (net of unearned income) was 3.7% at December 31, 2021 and 4.0% at December 31, 2020. In determining the level of reserve required, we critically assessed current and forecasted economic conditions in light of the COVID-19 pandemic to ensure we objectively included those expected impacts in the determination of our reserve. Our assessment also included a review of current portfolio credit metrics and the level of write-offs incurred over the past year of the COVID-19 pandemic. Our allowance for doubtful finance receivables is effectively determined by geography. The risk characteristics in our finance receivable portfolio segments are generally consistent with the risk factors associated with the economies of the countries/regions included in those geographies. Since EMEA is comprised of various countries and regional economies, the risk profile within that portfolio segment is somewhat more diversified due to the varying economic conditions among and within the countries. The bad debt provision of $(1) for the year ended December 31, 2021 included a reserve reduction of approximately $31 reflecting improvements in the macroeconomic environment as well as lower write-offs as a result of the COVID-19 pandemic. This compares to a bad debt provision of $81 for the year ended December 31, 2020, which included a first quarter 2020 charge of approximately $60 to initially record expected losses from the COVID-19 pandemic. Actual write-offs incurred to date have lagged expectations but we believe estimates of additional losses are in line with current and future economic conditions including the estimated impacts from the on-going COVID-19 pandemic. Despite improvement in the global economy, local economies continue to recover from the impacts of the COVID-19 pandemic including the cessation of government support as well as labor, interest rate and inflation risks and the potential for higher taxes. As a result of these uncertainties, we continue to also consider these various adverse macroeconomic impacts in our models. Accordingly, although our reserves as a percent of receivables have declined from the prior year, they remain elevated as compared to pre-pandemic levels. The allowance for doubtful accounts as well as the related investment in finance receivables were as follows: Allowance for Credit Losses: United States Canada (1) Europe (1)(2) Total Balance at December 31, 2019 $ 59 $ 10 $ 20 $ 89 Provision 41 8 32 81 Charge-offs (23) (5) (14) (42) Recoveries and other (3) — 2 3 5 Balance at December 31, 2020 $ 77 $ 15 $ 41 $ 133 Provision 5 (3) (3) (1) Charge-offs (7) (3) (6) (16) Recoveries and other (3) 2 2 (2) 2 Balance at December 31, 2021 $ 77 $ 11 $ 30 $ 118 Finance Receivables Collectively Evaluated for Impairment: December 31, 2020 (4) $ 1,823 $ 297 $ 1,178 $ 3,298 December 31, 2021 (4) $ 1,876 $ 251 $ 1,061 $ 3,188 _____________ (1) 2019 amounts have been recast to include the Other geographic region, which was previously disclosed as a separate grouping, conforming to the current year's presentation . (2) Includes developing market countries. (3) Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (4) Total Finance receivables exclude the allowance for credit losses of $118 and $133 at December 31, 2021 and 2020, respectively. In the U.S., customers are further evaluated by class based on the type of lease origination. The primary categories are direct, which primarily includes leases originated directly with end-user customers through bundled lease arrangements, and indirect, which primarily includes leases originated through our XBS sales channel that utilizes a combination of internal and third-party leasing in its lease arrangements with end-user customers. Indirect also includes lease financing to end-user customers who purchased equipment we sold to distributors or resellers. We evaluate our customers based on the following credit quality indicators: • Low Credit Risk: 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 in the normal course are generally less than 1%. • Average Credit Risk: 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 in the normal course are generally in the range of 2% to 5%. • High Credit Risk: 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 low and average credit risk 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 in the normal course are generally in the range of 7% to 10%. Credit quality indicators are updated at least annually, or more frequently to the extent required by economic conditions, and the credit quality of any given customer can change during the life of the portfolio. Details about our finance receivables portfolio based on geography, origination year and credit quality indicators are as follows: December 31, 2021 2021 2020 2019 2018 2017 Prior Total United States (Direct): Low Credit Risk $ 148 $ 121 $ 98 $ 68 $ 21 $ 3 $ 459 Average Credit Risk 60 40 57 23 8 2 190 High Credit Risk 91 73 31 16 6 1 218 Total 299 234 186 107 35 6 867 United States (Indirect): Low Credit Risk 235 145 100 43 11 — 534 Average Credit Risk 201 103 74 35 10 — 423 High Credit Risk 24 15 8 4 1 — 52 Total 460 263 182 82 22 — 1,009 Canada Low Credit Risk 32 27 22 13 3 1 98 Average Credit Risk 34 34 27 15 6 1 117 High Credit Risk 8 12 7 5 4 — 36 Total 74 73 56 33 13 2 251 EMEA (1) Low Credit Risk 229 143 121 71 22 6 592 Average Credit Risk 156 109 84 45 15 3 412 High Credit Risk 18 15 13 8 3 — 57 Total 403 267 218 124 40 9 1,061 Total Finance Receivables Low Credit Risk 644 436 341 195 57 10 1,683 Average Credit Risk 451 286 242 118 39 6 1,142 High Credit Risk 141 115 59 33 14 1 363 Total $ 1,236 $ 837 $ 642 $ 346 $ 110 $ 17 $ 3,188 December 31, 2020 2020 2019 2018 2017 2016 Prior Total United States (Direct): Low Credit Risk $ 164 $ 151 $ 128 $ 71 $ 32 $ 4 $ 550 Average Credit Risk 54 95 52 26 8 2 237 High Credit Risk 90 42 27 13 5 3 180 Total 308 288 207 110 45 9 967 United States (Indirect): Low Credit Risk 193 140 79 33 7 — 452 Average Credit Risk 129 124 71 31 8 — 363 High Credit Risk 19 9 9 3 1 — 41 Total 341 273 159 67 16 — 856 Canada Low Credit Risk 37 34 24 10 5 1 111 Average Credit Risk 46 39 26 17 6 1 135 High Credit Risk 18 10 10 10 3 — 51 Total 101 83 60 37 14 2 297 — EMEA (1) Low Credit Risk 197 177 131 62 20 4 591 Average Credit Risk 170 160 108 51 17 4 510 High Credit Risk 23 24 15 10 4 1 77 Total 390 361 254 123 41 9 1,178 Total Finance Receivables Low Credit Risk 591 502 362 176 64 9 1,704 Average Credit Risk 399 418 257 125 39 7 1,245 High Credit Risk 150 85 61 36 13 4 349 Total $ 1,140 $ 1,005 $ 680 $ 337 $ 116 $ 20 $ 3,298 _____________ (1) Includes developing market countries. The aging of our receivables portfolio is based upon the number of days an invoice is past due. Receivables that are more than 90 days past due are considered delinquent. Receivable losses are charged against the allowance when management believes the uncollectibility of the receivable is confirmed and is generally based on individual credit evaluations, results of collection efforts and specific circumstances of the customer. Subsequent recoveries, if any, are credited to the allowance. We generally continue to maintain equipment on lease and provide services to customers that have invoices for finance receivables that are 90 days or more past due and, as a result of the bundled nature of billings, we also continue to accrue interest on those receivables. However, interest revenue for such billings is only recognized if collectability is deemed reasonably assured. The aging of our billed finance receivables is as follows: December 31, 2021 Current 31-90 >90 Days Total Billed Unbilled Total >90 Days Direct $ 28 $ 7 $ 7 $ 42 $ 825 $ 867 $ 61 Indirect 28 5 4 37 972 1,009 — Total United States 56 12 11 79 1,797 1,876 61 Canada 6 1 — 7 244 251 9 EMEA (1) 9 2 1 12 1,049 1,061 13 Total $ 71 $ 15 $ 12 $ 98 $ 3,090 $ 3,188 $ 83 December 31, 2020 Current 31-90 >90 Days Total Billed Unbilled Total >90 Days Direct $ 33 $ 6 $ 9 $ 48 $ 919 $ 967 $ 74 Indirect 21 4 3 28 828 856 — Total United States 54 10 12 76 1,747 1,823 74 Canada 8 2 — 10 287 297 12 EMEA (1) 12 3 2 17 1,161 1,178 23 Total $ 74 $ 15 $ 14 $ 103 $ 3,195 $ 3,298 $ 109 _____________ (1) Includes developing market countries. Secured Borrowings and Collateral In September 2021, we sold $331 of U.S. based finance receivables to a consolidated special purpose entity (SPE). At December 31, 2021 the SPE holds $308 of total Finance receivables, net, which are included in our Consolidated Balance Sheet as collateral for the secured loan. In December 2020, we sold $610 of U.S. based finance receivables to a consolidated SPE. As of December 31, 2021 the SPE holds $380 of total Finance receivables, net, which are included in our Consolidated Balance Sheet as collateral for the secured loan. Refer to Note 16 - Debt, for additional information related to these arrangements including the related secured loan agreement.

Finance Receivables, Net

Finance Receivables, Net	12 Months Ended
	Dec. 31, 2021
Financing Receivable, after Allowance for Credit Loss [Abstract]
Finance Receivables, Net	Accounts Receivable, Net Accounts receivable, net were as follows: December 31, 2021 2020 Invoiced $ 660 $ 735 Accrued (1) 216 217 Allowance for doubtful accounts (58) (69) Accounts receivable, net $ 818 $ 883 ____________ (1) Accrued receivables includes amounts to be invoiced in the subsequent quarter for current services provided. The allowance for doubtful accounts was as follows: Balance at December 31, 2019 $ 55 Provision 35 Charge-offs (22) Recoveries and other (1) 1 Balance at December 31, 2020 $ 69 Provision 8 Charge-offs (18) Recoveries and other (1) (1) Balance at December 31, 2021 $ 58 _____________ (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. The allowance for doubtful accounts as a percentage of gross receivables was 6.6% at December 31, 2021 and 7.2% at December 31, 2020. The allowance for doubtful accounts as a percent of gross accounts receivable remains at an elevated level as compared to historical levels primarily as a result of the macroeconomic and market disruption caused by the COVID-19 pandemic. Accounts Receivable Sale Arrangements Accounts receivable sale 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, $102 and $136 remained uncollected as of December 31, 2021 and 2020, respectively. Accounts receivable sales activity was as follows: Year Ended December 31, 2021 2020 2019 Accounts receivable sales (1) $ 478 $ 333 $ 393 _____________ (1) Losses on sales were not material. 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 equipment. Finance receivables, net were as follows: December 31, 2021 2020 Gross receivables $ 3,568 $ 3,691 Unearned income (380) (393) Subtotal 3,188 3,298 Residual values — — Allowance for doubtful accounts (118) (133) Finance Receivables, Net 3,070 3,165 Less: Billed portion of finance receivables, net 94 99 Less: Current portion of finance receivables not billed, net 1,042 1,082 Finance Receivables Due After One Year, Net $ 1,934 $ 1,984 A summary of our gross finance receivables' future contractual maturities, including those previously billed, is as follows: December 31, 2021 2020 12 Months $ 1,357 $ 1,426 24 Months 972 1,006 36 Months 668 697 48 Months 396 395 60 Months 157 152 Thereafter 18 15 Total $ 3,568 $ 3,691 Finance Receivables - Allowance for Credit Losses and Credit Quality Our finance receivable portfolios are primarily in the U.S., Canada and EMEA. We generally establish customer credit limits and estimate the allowance for credit losses on a country or geographic basis. Customer credit limits are based upon an initial evaluation of the customer's credit quality and we adjust that limit accordingly based upon ongoing credit assessments of the customer, including payment history and changes in credit quality. The allowance for doubtful credit losses as a percentage of gross financial receivables (net of unearned income) was 3.7% at December 31, 2021 and 4.0% at December 31, 2020. In determining the level of reserve required, we critically assessed current and forecasted economic conditions in light of the COVID-19 pandemic to ensure we objectively included those expected impacts in the determination of our reserve. Our assessment also included a review of current portfolio credit metrics and the level of write-offs incurred over the past year of the COVID-19 pandemic. Our allowance for doubtful finance receivables is effectively determined by geography. The risk characteristics in our finance receivable portfolio segments are generally consistent with the risk factors associated with the economies of the countries/regions included in those geographies. Since EMEA is comprised of various countries and regional economies, the risk profile within that portfolio segment is somewhat more diversified due to the varying economic conditions among and within the countries. The bad debt provision of $(1) for the year ended December 31, 2021 included a reserve reduction of approximately $31 reflecting improvements in the macroeconomic environment as well as lower write-offs as a result of the COVID-19 pandemic. This compares to a bad debt provision of $81 for the year ended December 31, 2020, which included a first quarter 2020 charge of approximately $60 to initially record expected losses from the COVID-19 pandemic. Actual write-offs incurred to date have lagged expectations but we believe estimates of additional losses are in line with current and future economic conditions including the estimated impacts from the on-going COVID-19 pandemic. Despite improvement in the global economy, local economies continue to recover from the impacts of the COVID-19 pandemic including the cessation of government support as well as labor, interest rate and inflation risks and the potential for higher taxes. As a result of these uncertainties, we continue to also consider these various adverse macroeconomic impacts in our models. Accordingly, although our reserves as a percent of receivables have declined from the prior year, they remain elevated as compared to pre-pandemic levels. The allowance for doubtful accounts as well as the related investment in finance receivables were as follows: Allowance for Credit Losses: United States Canada (1) Europe (1)(2) Total Balance at December 31, 2019 $ 59 $ 10 $ 20 $ 89 Provision 41 8 32 81 Charge-offs (23) (5) (14) (42) Recoveries and other (3) — 2 3 5 Balance at December 31, 2020 $ 77 $ 15 $ 41 $ 133 Provision 5 (3) (3) (1) Charge-offs (7) (3) (6) (16) Recoveries and other (3) 2 2 (2) 2 Balance at December 31, 2021 $ 77 $ 11 $ 30 $ 118 Finance Receivables Collectively Evaluated for Impairment: December 31, 2020 (4) $ 1,823 $ 297 $ 1,178 $ 3,298 December 31, 2021 (4) $ 1,876 $ 251 $ 1,061 $ 3,188 _____________ (1) 2019 amounts have been recast to include the Other geographic region, which was previously disclosed as a separate grouping, conforming to the current year's presentation . (2) Includes developing market countries. (3) Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (4) Total Finance receivables exclude the allowance for credit losses of $118 and $133 at December 31, 2021 and 2020, respectively. In the U.S., customers are further evaluated by class based on the type of lease origination. The primary categories are direct, which primarily includes leases originated directly with end-user customers through bundled lease arrangements, and indirect, which primarily includes leases originated through our XBS sales channel that utilizes a combination of internal and third-party leasing in its lease arrangements with end-user customers. Indirect also includes lease financing to end-user customers who purchased equipment we sold to distributors or resellers. We evaluate our customers based on the following credit quality indicators: • Low Credit Risk: 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 in the normal course are generally less than 1%. • Average Credit Risk: 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 in the normal course are generally in the range of 2% to 5%. • High Credit Risk: 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 low and average credit risk 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 in the normal course are generally in the range of 7% to 10%. Credit quality indicators are updated at least annually, or more frequently to the extent required by economic conditions, and the credit quality of any given customer can change during the life of the portfolio. Details about our finance receivables portfolio based on geography, origination year and credit quality indicators are as follows: December 31, 2021 2021 2020 2019 2018 2017 Prior Total United States (Direct): Low Credit Risk $ 148 $ 121 $ 98 $ 68 $ 21 $ 3 $ 459 Average Credit Risk 60 40 57 23 8 2 190 High Credit Risk 91 73 31 16 6 1 218 Total 299 234 186 107 35 6 867 United States (Indirect): Low Credit Risk 235 145 100 43 11 — 534 Average Credit Risk 201 103 74 35 10 — 423 High Credit Risk 24 15 8 4 1 — 52 Total 460 263 182 82 22 — 1,009 Canada Low Credit Risk 32 27 22 13 3 1 98 Average Credit Risk 34 34 27 15 6 1 117 High Credit Risk 8 12 7 5 4 — 36 Total 74 73 56 33 13 2 251 EMEA (1) Low Credit Risk 229 143 121 71 22 6 592 Average Credit Risk 156 109 84 45 15 3 412 High Credit Risk 18 15 13 8 3 — 57 Total 403 267 218 124 40 9 1,061 Total Finance Receivables Low Credit Risk 644 436 341 195 57 10 1,683 Average Credit Risk 451 286 242 118 39 6 1,142 High Credit Risk 141 115 59 33 14 1 363 Total $ 1,236 $ 837 $ 642 $ 346 $ 110 $ 17 $ 3,188 December 31, 2020 2020 2019 2018 2017 2016 Prior Total United States (Direct): Low Credit Risk $ 164 $ 151 $ 128 $ 71 $ 32 $ 4 $ 550 Average Credit Risk 54 95 52 26 8 2 237 High Credit Risk 90 42 27 13 5 3 180 Total 308 288 207 110 45 9 967 United States (Indirect): Low Credit Risk 193 140 79 33 7 — 452 Average Credit Risk 129 124 71 31 8 — 363 High Credit Risk 19 9 9 3 1 — 41 Total 341 273 159 67 16 — 856 Canada Low Credit Risk 37 34 24 10 5 1 111 Average Credit Risk 46 39 26 17 6 1 135 High Credit Risk 18 10 10 10 3 — 51 Total 101 83 60 37 14 2 297 — EMEA (1) Low Credit Risk 197 177 131 62 20 4 591 Average Credit Risk 170 160 108 51 17 4 510 High Credit Risk 23 24 15 10 4 1 77 Total 390 361 254 123 41 9 1,178 Total Finance Receivables Low Credit Risk 591 502 362 176 64 9 1,704 Average Credit Risk 399 418 257 125 39 7 1,245 High Credit Risk 150 85 61 36 13 4 349 Total $ 1,140 $ 1,005 $ 680 $ 337 $ 116 $ 20 $ 3,298 _____________ (1) Includes developing market countries. The aging of our receivables portfolio is based upon the number of days an invoice is past due. Receivables that are more than 90 days past due are considered delinquent. Receivable losses are charged against the allowance when management believes the uncollectibility of the receivable is confirmed and is generally based on individual credit evaluations, results of collection efforts and specific circumstances of the customer. Subsequent recoveries, if any, are credited to the allowance. We generally continue to maintain equipment on lease and provide services to customers that have invoices for finance receivables that are 90 days or more past due and, as a result of the bundled nature of billings, we also continue to accrue interest on those receivables. However, interest revenue for such billings is only recognized if collectability is deemed reasonably assured. The aging of our billed finance receivables is as follows: December 31, 2021 Current 31-90 >90 Days Total Billed Unbilled Total >90 Days Direct $ 28 $ 7 $ 7 $ 42 $ 825 $ 867 $ 61 Indirect 28 5 4 37 972 1,009 — Total United States 56 12 11 79 1,797 1,876 61 Canada 6 1 — 7 244 251 9 EMEA (1) 9 2 1 12 1,049 1,061 13 Total $ 71 $ 15 $ 12 $ 98 $ 3,090 $ 3,188 $ 83 December 31, 2020 Current 31-90 >90 Days Total Billed Unbilled Total >90 Days Direct $ 33 $ 6 $ 9 $ 48 $ 919 $ 967 $ 74 Indirect 21 4 3 28 828 856 — Total United States 54 10 12 76 1,747 1,823 74 Canada 8 2 — 10 287 297 12 EMEA (1) 12 3 2 17 1,161 1,178 23 Total $ 74 $ 15 $ 14 $ 103 $ 3,195 $ 3,298 $ 109 _____________ (1) Includes developing market countries. Secured Borrowings and Collateral In September 2021, we sold $331 of U.S. based finance receivables to a consolidated special purpose entity (SPE). At December 31, 2021 the SPE holds $308 of total Finance receivables, net, which are included in our Consolidated Balance Sheet as collateral for the secured loan. In December 2020, we sold $610 of U.S. based finance receivables to a consolidated SPE. As of December 31, 2021 the SPE holds $380 of total Finance receivables, net, which are included in our Consolidated Balance Sheet as collateral for the secured loan. Refer to Note 16 - Debt, for additional information related to these arrangements including the related secured loan agreement.

Inventories and Equipment on Op

Inventories and Equipment on Operating Leases, Net	12 Months Ended
	Dec. 31, 2021
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: December 31, 2021 2020 Finished goods $ 568 $ 707 Work-in-process 43 43 Raw materials 85 93 Total Inventories $ 696 $ 843 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. Equipment on operating leases and the related accumulated depreciation were as follows: December 31, 2021 2020 Equipment on operating leases $ 1,266 $ 1,376 Accumulated depreciation (1,013) (1,080) Equipment on operating leases, net $ 253 $ 296 Depreciable lives generally vary from four December 31, 2021 2020 12 months $ 202 $ 215 24 months 110 129 36 months 61 74 48 months 32 32 60 months 10 12 Thereafter 2 1 Total $ 417 $ 463 Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum contracted amounts, for the years ended December 31, 2021, 2020 and 2019 amounted to $62, $66 and $107, respectively. The decrease in contingent rentals for the year ended December 31, 2020 is primarily the result of lower equipment usage during 2020 as a result of business closures related to the COVID-19 pandemic. Secured Borrowings and Collateral In September 2021, we sold the rights to payments under operating leases with an equipment net book value of $9 to a consolidated SPE, which funded the purchase through a secured loan agreement with a financial institution. As of December 31, 2021 the SPE holds $8 of Equipment on operating leases, net, which are included in our Consolidated Balance Sheet as collateral for the secured loan agreement.

Land, Buildings, Equipment and

Land, Buildings, Equipment and Software, Net	12 Months Ended
	Dec. 31, 2021
Land, Buildings and Equipment, Net [Abstract]
Land, Buildings, Equipment and Software, Net	Land, Buildings, Equipment and Software, Net Land, buildings and equipment, net were as follows: December 31, Estimated Useful Lives (Years) 2021 2020 Land $ 9 $ 13 Building and building equipment 25 to 50 777 814 Leasehold improvements 1 to 12 112 124 Plant machinery 5 to 12 1,098 1,149 Office furniture and equipment 3 to 15 475 476 Finance leases (1) 1 to 12 13 13 Other (1) 4 to 20 44 32 Construction in progress 17 17 Subtotal 2,545 2,638 Accumulated depreciation (2,187) (2,231) Land, buildings and equipment, net $ 358 $ 407 _____________ (1) Prior year amounts have been recast to conform to the current year's presentation to separately report finance lease ROU assets. Depreciation expense was $76, $87 and $101 for the three years ended December 31, 2021, 2020 and 2019, respectively. We lease buildings and equipment, substantially all of which are accounted for as operating leases. Finance leased assets were $9 and $10 at December 31, 2021 and 2020, respectively. Refer to Note 11 - Lessee for additional information regarding leased assets. Internal Use Software three

Lessee

Lessee	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Lessee	Lessee 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 eleven years and a variety of renewal and/or termination options. The components of lease expense are as follows: Year Ended December 31, 2021 2020 2019 Operating lease expense $ 104 $ 113 $ 125 Short-term lease expense 20 20 21 Variable lease expense (1) 48 47 48 Sublease income (4) (2) (1) Total Lease expense $ 168 $ 178 $ 193 _____________ (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. As of December 31, 2021, we had no additional operating leases that had not yet commenced. Operating leases ROU assets, net and operating lease liabilities were reported in the Consolidated Balance Sheets as follows: December 31, 2021 2020 Other long-term assets $ 264 $ 310 Accrued expenses and other current liabilities $ 79 $ 83 Other long-term liabilities 204 250 Total Operating lease liabilities $ 283 $ 333 Supplemental information related to operating leases is as follows: Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows $ 109 $ 119 $ 126 Right-of-use assets obtained in exchange for new lease liabilities (1) 41 76 75 Weighted-average remaining lease term 5 years 5 years 4 years Weighted-average discount rate 4.67 % 5.03 % 5.47 % _____________ (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: December 31, 2021 2020 12 months $ 98 $ 104 24 months 78 88 36 months 45 68 48 months 31 37 60 months 26 25 Thereafter 35 52 Total Lease payments 313 374 Less: Imputed interest 30 41 Total Operating lease liabilities $ 283 $ 333 Finance Leases Land, buildings and equipment, net
Lessee	Lessee 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 eleven years and a variety of renewal and/or termination options. The components of lease expense are as follows: Year Ended December 31, 2021 2020 2019 Operating lease expense $ 104 $ 113 $ 125 Short-term lease expense 20 20 21 Variable lease expense (1) 48 47 48 Sublease income (4) (2) (1) Total Lease expense $ 168 $ 178 $ 193 _____________ (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. As of December 31, 2021, we had no additional operating leases that had not yet commenced. Operating leases ROU assets, net and operating lease liabilities were reported in the Consolidated Balance Sheets as follows: December 31, 2021 2020 Other long-term assets $ 264 $ 310 Accrued expenses and other current liabilities $ 79 $ 83 Other long-term liabilities 204 250 Total Operating lease liabilities $ 283 $ 333 Supplemental information related to operating leases is as follows: Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows $ 109 $ 119 $ 126 Right-of-use assets obtained in exchange for new lease liabilities (1) 41 76 75 Weighted-average remaining lease term 5 years 5 years 4 years Weighted-average discount rate 4.67 % 5.03 % 5.47 % _____________ (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: December 31, 2021 2020 12 months $ 98 $ 104 24 months 78 88 36 months 45 68 48 months 31 37 60 months 26 25 Thereafter 35 52 Total Lease payments 313 374 Less: Imputed interest 30 41 Total Operating lease liabilities $ 283 $ 333 Finance Leases Land, buildings and equipment, net

Investment in Affiliates, at Eq

Investment in Affiliates, at Equity	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investment in Affiliates, at Equity	Investment in Affiliates, at Equity As disclosed in Note 6 - Divestitures, in November 2019 Xerox Holdings sold its remaining indirect 25% equity interest in Fuji Xerox (now known as FUJIFILM Business Innovation Corp.), which had been previously accounted for as an equity method investment. Accordingly, our remaining Investment in Affiliates, at Equity largely consists of several minor investments in entities in the Middle East region. Investments in corporate joint ventures and other companies in which we generally have a 20% to 50% ownership interest were $45 and $47 at December 31, 2021 and 2020, respectively. Our equity in net income of our unconsolidated affiliates is as follows: Year Ended December 31, 2021 2020 2019 Fuji Xerox (1) $ — $ — $ 147 Other 3 4 8 Total Equity in net income of unconsolidated affiliates $ 3 $ 4 $ 155 _____________ (1) Equity in net income for Fuji Xerox is reported in Income from discontinued operations, net of tax for 2019 and is through the date of sale. Fuji Xerox We received dividends of $69 from Fuji Xerox for the year ended December 31, 2019, which was reflected as a reduction in our investment upon receipt. No dividends were received from Fuji Xerox in 2021 or 2020 due to the Sale of our equity interest in Fuji Xerox in 2019. Summarized financial information for Fuji Xerox was as follows: Through Date of Sale Summary of Operations Revenues $ 7,667 Costs and expenses 6,814 Income before income taxes 853 Income tax expense 258 Net Income 595 Less: Net income - noncontrolling interests 3 Net Income - Fuji Xerox $ 592 Yen/U.S. Dollar exchange rate used to translate was as follows: Financial Statement Exchange Basis 2019 Summary of Operations Weighted average rate 109.03

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill The following table presents the changes in the carrying amount of Goodwill: Total Balance at December 31, 2018 $ 3,858 Foreign currency translation 28 Acquisitions 14 Balance at December 31, 2019 $ 3,900 Foreign currency translation 60 Acquisitions: U.K. Acquisitions 98 Canada Acquisition 10 Other 3 Balance at December 31, 2020 (1) $ 4,071 Foreign currency translation (23) Acquisitions: U.S. Acquisitions 9 Canada Acquisition 16 Goodwill impairment (2) (781) Other (5) Balance at December 31, 2021 $ 3,287 _____________ (1) CareAR Holdings, LLC was transferred from Xerox Holdings to Xerox in 2021. Accordingly, the balance at December 31, 2020 reflects the balance for both Xerox Holdings and Xerox. (2) Non-cash, pre-tax Goodwill impairment charge of $781 ($750 after-tax). After completing our annual impairment test in the fourth quarter of 2021, we concluded that the estimated fair value of the Company had declined below its carrying value. As a result, we recognized an after-tax non-cash impairment charge of $750 ($781 pre-tax) related to our Goodwill for the year ended December 31, 2021. Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies for additional information related to the Goodwill impairment. Intangible Assets, Net Intangible assets, net were $211 at December 31, 2021. Intangible assets were comprised of the following: December 31, 2021 December 31, 2020 Weighted Average Gross Accumulated Net Gross Accumulated Net Amount (1) Customer relationships 10 years $ 211 $ 95 $ 116 $ 185 $ 74 $ 111 Distribution network 25 years 123 108 15 123 103 20 Trademarks 19 years 237 164 73 235 138 97 Technology and non-compete 3 years 15 8 7 29 20 9 Total Intangible Assets $ 586 $ 375 $ 211 $ 572 $ 335 $ 237 _____________ (1) CareAR Holdings, LLC was transferred from Xerox Holdings to Xerox in 2021. Accordingly, the balances at December 31, 2020 reflect the balances for both Xerox Holdings and Xerox.

Restructuring Programs

Restructuring Programs	12 Months Ended
	Dec. 31, 2021
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. As part of our efforts to reduce costs, our restructuring actions may also include the off-shoring and/or outsourcing of certain operations, services and other functions, as well as reducing our real estate footprint. Restructuring costs include employee severance and related costs, other contractual termination costs and asset impairments that may result from employee reductions, migration of facilities from higher-cost to lower-cost countries, and the consolidation of facilities within countries. In those geographies where we have either a formal severance plan or a history of consistently providing severance benefits representing a substantive plan (on-going benefit arrangements), we recognize employee severance and related costs when they are both probable and reasonably estimable. In the event employees are required to perform future service beyond their minimum retention period, we record severance charges ratably over the remaining service period of those employees. Severance payments made under a one-time benefit arrangement are recorded upon communication to the affected employees. Contractual termination costs, including facility exit costs, are generally recognized when it has been determined that a liability has been incurred. Restructuring activities may include the disposal or abandonment of assets, including leased right-of-use assets, that require an acceleration of depreciation or an impairment charge reflecting the excess of an asset's book value over fair value or other recoveries. The recognition of restructuring costs requires that we make certain judgments and estimates regarding the nature, timing and amount of costs associated with planned initiatives. To the extent our actual results differ from our estimates and assumptions, we may be required to revise the estimated liabilities, requiring the recognition of additional restructuring costs or the reduction of liabilities already recognized. At the end of each reporting period, we evaluate the remaining accrued balances to ensure they are properly stated and the utilization of the reserves are for their intended purpose in accordance with developed exit plans. A summary of our restructuring program activity for the three years ended December 31, 2021, 2020 and 2019 is as follows: Severance and Other Contractual Termination Costs (2) Asset Impairments (3)(4) Total Balance at December 31, 2018 $ 94 $ 1 $ — $ 95 Restructuring provision 81 19 61 161 Reversals of prior charges (24) (5) (5) (34) Net Current Period Charges (1) 57 14 56 127 Charges against reserve and currency (85) (11) (56) (152) Balance at December 31, 2019 $ 66 $ 4 $ — $ 70 Restructuring provision 107 3 6 116 Reversals of prior charges (21) (2) (6) (29) Net Current Period Charges (1) 86 1 — 87 Charges against reserve and currency (74) (1) — (75) Balance at December 31, 2020 $ 78 $ 4 $ — $ 82 Restructuring provision 30 3 15 48 Reversals of prior charges (13) (6) (2) (21) Net Current Period Charges (1) 17 (3) 13 27 Charges against reserve and currency (70) 1 (13) (82) Balance at December 31, 2021 $ 25 $ 2 $ — $ 27 _____________ (1) Represents net amount recognized within the Consolidated Statements of (Loss) Income for the years shown for restructuring and asset impairment charges. Reversals of prior charges primarily includes net changes in estimated reserves from prior period initiatives. Net reversals for 2021 also include a $4 gain on the sale of surplus land. (2) Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs. (3) Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision. (4) Amounts primarily relate to the exit and abandonment of leased and owned facilities. For the year ended December 31, 2021, 2020 and 2019, the charge includes the accelerated write-off of $3, $4 and $39, respectively, for leased right-of-use assets and $12, $2 and $22, respectively, for owned assets. Impairments are net of any potential sublease income or other recovery amounts . The following table summarizes the reconciliation to the Consolidated Statements of Cash Flows: Year Ended December 31, 2021 2020 2019 Charges against reserve and currency $ (82) $ (75) $ (152) Asset impairments 13 — 56 Effects of foreign currency and other non-cash items (3) (6) 3 Restructuring Cash Payments $ (72) $ (81) $ (93) In connection with our restructuring programs, we also incurred certain related costs as follows: Year Ended December 31, 2021 2020 2019 Retention related severance/bonuses (1) $ 6 $ 4 $ 39 Contractual severance costs (2) 1 (2) 43 Consulting and other costs (3) 4 4 20 $ 11 $ 6 $ 102 _____________ (1) Includes retention related severance and bonuses for employees expected to continue working beyond their minimum retention period before termination. (2) 2019 costs include approximately $38 for estimated severance and other related costs we were contractually required to pay in connection with 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.

Supplementary Financial Informa

Supplementary Financial Information	12 Months Ended
	Dec. 31, 2021
Supplemental Financial Information [Abstract]
Supplementary Financial Information	Supplementary Financial Information The components of Other assets and liabilities are as follows: December 31, 2021 2020 Other Current Assets Income taxes receivable $ 11 $ 29 Royalties, license fees and software maintenance 23 21 Restricted cash 33 23 Prepaid expenses 30 31 Advances and deposits 32 34 Other 82 113 Total Other Current Assets $ 211 $ 251 Other Long-term Assets Income taxes receivable $ 8 $ 7 Prepaid pension costs 1,211 617 Internal use software, net 120 118 Restricted cash 36 43 Customer contract costs, net 147 158 Operating lease right-of-use assets 264 310 Deferred compensation plan investments 18 18 Investments in affiliates, at equity (1) 45 47 Investments at cost - Xerox Holdings 8 — Other 103 137 Total Other Long-term Assets (2) $ 1,960 $ 1,455 Accrued Expenses and Other Current Liabilities Income taxes payable $ 30 $ 7 Other taxes payable 69 68 Operating lease obligations 79 83 Financing lease obligations 2 2 Interest payable 53 56 Restructuring reserves 26 82 Restructuring related costs 18 21 Product warranties 5 5 Dividends payable (3) 48 59 Distributor and reseller rebates/commissions 112 123 Unearned income and other revenue deferrals 194 140 Administration and overhead 57 52 Other 178 142 Total Accrued Expenses and Other Current Liabilities (4) $ 871 $ 840 Other Long-term Liabilities Deferred taxes $ 108 $ 35 Income taxes payable 40 57 Operating lease obligations 204 250 Finance lease obligations 5 7 Environmental reserves 9 9 Restructuring reserves 1 2 Other 114 137 Total Other Long-term Liabilities $ 481 $ 497 _____________ (1) Refer to Note 12 - Investments in Affiliates, at Equity for additional information. (2) Xerox's balance of 1,952 at December 31, 2021 excludes Investments at cost. (3) Represents dividends payable by Xerox Holdings Corporation on Common and Preferred Stock. (4) Xerox's balance of $823 at December 31, 2021 excludes Dividends Payable of $48. Xerox's balance of $749 at December 31, 2020 excludes Interest Payable of $32 and Dividends Payable of $59. Cash, Cash Equivalents and Restricted Cash Restricted cash primarily relates to escrow cash deposits made in Brazil associated with ongoing litigation as well as cash collections on finance receivables that were pledged for secured borrowings. 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 Consolidated Balance Sheets based on when the cash will be contractually or judicially released. Cash, cash equivalents and restricted cash amounts are as follows: December 31, 2021 2020 Cash and cash equivalents $ 1,840 $ 2,625 Restricted cash Litigation deposits in Brazil 34 42 Escrow and cash collections related to secured borrowing arrangements (1) 32 22 Other restricted cash 3 2 Total Restricted Cash 69 66 Cash, cash equivalents and restricted cash $ 1,909 $ 2,691 __________________________ (1) Represents collections on finance receivables pledged for secured borrowings that will be remitted to lenders in the following month. Restricted cash is reported in the Consolidated Balance Sheets as follows: December 31, 2021 2020 Other current assets $ 33 $ 23 Other long-term assets 36 43 Total Restricted cash $ 69 $ 66 Pension and Other Benefit Liabilities December 31, 2021 2020 Pension liabilities (1) $ 1,285 $ 1,474 Accrued compensation liabilities 66 70 Deferred compensation liabilities (2) 22 22 Pension and other benefit liabilities $ 1,373 $ 1,566 __________________________ (1) Refer to Note 19 - Employee Benefit Plans for additional information regarding pension liabilities. (2) Includes amounts measured at fair value on a recurring basis at December 31, 2021 and 2020 of $18 and $17, respectively. Refer to Note 18 - Fair Value of Financial Assets and Liabilities for additional information regarding deferred compensation liabilities. Summarized Cash Flow Information Summarized cash flow information is as follows: Year Ended December 31, 2021 2020 2019 Provision for receivables $ 12 $ 116 $ 49 Provision for inventories 34 31 24 Provision for product warranties 8 8 12 Depreciation of buildings and equipment 76 87 101 Depreciation and obsolescence of equipment on operating leases 155 183 225 Amortization of internal use software 41 42 59 Amortization of acquired intangible assets 55 56 45 Amortization of customer contract costs (1) 79 85 93 Cost of additions to land, buildings and equipment 29 44 41 Cost of additions to internal use software 39 30 24 Common stock dividends - Xerox Holdings 192 216 229 Preferred stock dividends - Xerox Holdings 14 14 14 Payments to noncontrolling interests 1 3 14 Repurchases related to stock-based compensation - Xerox Holdings 18 19 28 Investments from noncontrolling interests 15 — — __________________________ (1) Amortization of customer contract costs is reported in Decrease (increase) in other current and long-term assets on the Consolidated Statements of Cash Flows. Refer to Note 2 - Revenue - Contract Costs for additional information.

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Short-term borrowings were as follows: December 31, 2021 2020 Short-term debt and current portion of long-term debt Xerox Holdings Corporation $ — $ — Xerox Corporation 300 — Xerox - Other Subsidiaries (1) 350 394 Total $ 650 $ 394 _____________ (1) Represents subsidiaries of Xerox Corporation. We classify our debt based on the contractual maturity dates of the underlying debt instruments or as of the earliest put date available to the debt holders. We defer costs associated with debt issuance over the applicable term, or to the first put date in the case of convertible debt or debt with a put feature. These costs are amortized as interest expense in our Consolidated Statements of (Loss) Income. Long-term debt was as follows: December 31, Stated Rate Weighted Average Interest Rates at December 31, 2021 (1) 2021 2020 Xerox Holdings Corporation Senior Notes due 2025 5.00 % 4.95 % $ 750 $ 750 Senior Notes due 2028 5.50 % 5.40 % 750 750 Subtotal - Xerox Holdings Corporation $ 1,500 $ 1,500 Xerox Corporation Senior Notes due 2022 4.07 % 4.07 % $ 300 $ 300 Senior Notes due 2023 (2) 4.38 % 3.68 % 1,000 1,000 Senior Notes due 2024 3.80 % 3.84 % 300 300 Senior Notes due 2035 4.80 % 4.84 % 250 250 Senior Notes due 2039 6.75 % 6.78 % 350 350 Subtotal - Xerox Corporation $ 2,200 $ 2,200 Xerox - Other Subsidiaries (3) Secured Borrowing - July 2020 1.76 % — % $ — $ 267 Secured Borrowing - December 2020 1.74 % 1.74 % 268 500 Secured Borrowing - September 2021 1.40 % 1.40 % 293 — Subtotal - Xerox - Other Subsidiaries $ 561 $ 767 Principal debt balance $ 4,261 $ 4,467 Xerox Holdings Corporation - Debt issuance costs (11) (13) Xerox Corporation - Debt issuance costs (6) (11) Xerox - Other subsidiaries - Debt issuance costs (1) (3) Subtotal - Debt issuance costs (18) (27) Unamortized premium 3 3 Fair value adjustments (4) Terminated swaps — 1 Current swaps — — Less: current maturities (650) (394) Total Long-term Debt $ 3,596 $ 4,050 _____________ (1) Represents the weighted average effective interest rate, which includes the effect of discounts and premiums on issued debt. (2) As a result of the downgrade of our debt ratings in August 2020, the coupon rate of 4.125% increased by 0.25% to 4.375% effective September 15, 2020. (3) The rates disclosed for Other Subsidiaries of Xerox Corporation are variable interest rates. Refer to the Secured Borrowings and Collateral section below for additional information. (4) Fair value adjustments include the following: (i) fair value adjustments to debt associated with terminated interest rate swaps, which are being amortized to interest expense over the remaining term of the related notes; and (ii) changes in fair value of hedged debt obligations attributable to movements in benchmark interest rates. Hedge accounting requires hedged debt instruments to be reported inclusive of any fair value adjustment. Scheduled principal payments due on our long-term debt for the next five years and thereafter are as follows: 2022 (1) 2023 2024 2025 2026 Thereafter Total Xerox Holdings Corporation $ — $ — $ — $ 750 $ — $ 750 $ 1,500 Xerox Corporation 300 1,000 300 — — 600 2,200 Xerox - Other Subsidiaries (2) 351 185 25 — — — 561 Total $ 651 $ 1,185 $ 325 $ 750 $ — $ 1,350 $ 4,261 _____________ (1) Current portion of long-term debt maturities for 2022 are $396, $92, $85 and $78 for the first, second, third and fourth quarters, respectively. (2) Represents subsidiaries of Xerox Corporation. Xerox Holdings Corporation/Xerox Corporation Intercompany Loan In August 2020, Xerox Holdings Corporation issued $550 of 5.00% Senior Notes due August 2025 (the "2025 Senior Notes") at par and $550 of 5.50% Senior Notes due August 2028 (the "2028 Senior Notes") at par resulting in aggregate net proceeds (after fees and expenses) of approximately $1,089. On August 24, 2020, Xerox Holdings Corporation issued an additional $200 of the 2025 Senior Notes at 100.75% of par and an additional $200 of the 2028 Senior Notes at 102.50% of par resulting in additional aggregate net proceeds (after premium, fees and expenses) of approximately $405 for total aggregate net proceeds from both issuances of approximately $1,494. In 2020, the net debt proceeds were contributed by Xerox Holdings Corporation to Xerox Corporation and recorded as Additional paid-in capital by Xerox Corporation. In February 2021, Xerox Holdings Corporation and Xerox Corporation entered into an Intercompany Loan agreement for the net proceeds of $1,494 contributed by Xerox Holdings Corporation to Xerox Corporation in 2020. The intercompany loan, which did not involve the exchange of cash in the current period, resulted in capitalization of the amount as Related Party Debt for Xerox Corporation. The amount was originally recorded as Additional paid-in capital in 2020 when the cash was contributed by Xerox Holdings Corporation. The intercompany loan was established to mirror the terms of Xerox Holdings Corporation’s 2025 and 2028 Senior Notes, including interest rates and payment dates. The intercompany interest expense also includes a ratable amount to reimburse Xerox Holdings Corporation for its debt issuance costs and premium. At December 31, 2021, the balance of the Intercompany Loan reported in Xerox Corporation’s Consolidated Balance Sheet was $1,495, which is net of related debt issuance costs, and the intercompany interest payable was $30. Xerox Corporation’s interest expense included interest expense associated with this Intercompany Loan of $80 and $32 for the years ended December 31, 2021 and 2020, respectively. Credit Facility We have a $1.8 billion unsecured revolving Credit Facility with a group of lenders, that matures in August 2022. The Credit Facility includes a $250 letter of credit sub-facility. Proceeds from any borrowings under the Credit Facility can be used to provide working capital for the Company and its subsidiaries and for general corporate purposes. The Credit Facility is available, without sublimit, to certain of our qualifying subsidiaries. Our obligations under the Credit Facility are unsecured and are not currently guaranteed by any of our subsidiaries. Any borrowings under the Credit Facility by Xerox Corporation will be guaranteed by Xerox Holdings Corporation. Any domestic subsidiary that guarantees more than $100 of Xerox Corporation debt must also guaranty Xerox Corporation's obligations under the Credit Facility. In the event that any of our subsidiaries borrows under the Credit Facility, its borrowings thereunder would be guaranteed by us. At December 31, 2021 and 2020, we had no outstanding borrowings or letters of credit under the amended and restated Credit Facility. On July 31, 2020, Xerox and Xerox Holdings entered into Amendment No. 3 to the Credit Facility, which modified the facility's financial covenants. During a specified covenant modification period, which began on the effective date of July 31, 2020 and ended effective and inclusive of December 31, 2021 (the Covenant Modification Period), Xerox was required to maintain unrestricted cash (as defined in the Amendment) in an amount not less than $1.0 billion. Further, the Amendment modified the financial maintenance leverage covenant in the Credit Agreement by requiring that, during the Covenant Modification Period, Xerox was required to maintain a ratio of net debt for borrowed money to consolidated EBITDA of not greater than 4.25x (with a cap on cash netting of $1.75 billion), in lieu of the 4.25x total debt for borrowed money to consolidated EBITDA ratio requirement applicable prior to the Amendment. The Covenant Modification Period ended effective and inclusive of December 31, 2021. Accordingly, for the quarter ended March 31, 2022, the financial maintenance covenants return to the covenants in effect prior to the July 31, 2020 amendment to the Credit Facility. Borrowings under the Credit Facility bear interest at our choice, at either (a) a Base Rate as defined in the Credit Facility agreement, plus a spread that varies between 0.000% and 0.700% depending on our credit rating at the time of borrowing, or (b) LIBOR plus an all-in spread that varies between 1.000% and 1.700% depending on our credit rating at the time of borrowing. Based on our credit rating as of December 31, 2021, the applicable all-in spreads for the Base Rate and LIBOR borrowing were 0.375% and 1.375%, respectively. Effective December 31, 2021 the Credit Facility was modified to acknowledge certain LIBOR currencies and tenors would cease to be available as of January 1, 2022, and therefore, the Company agreed to suspend rights to request borrowings under those currencies and tenors for the remainder of the term of the Credit Facility. An annual facility fee is payable to each lender in the Credit Facility at a rate that varies between 0.125% and 0.300% depending on our credit rating. Based on our credit rating as of December 31, 2021 the applicable rate is 0.25%. The Credit Facility contains various conditions to borrowing and affirmative, negative and financial maintenance covenants. Certain of the more significant covenants are summarized below: (a) Minimum Unrestricted Cash during the Covenant Modification Period, at all times, maintain Unrestricted Cash (as defined in the amended and restated Credit Facility) in an amount not less than $1.0 billion. This covenant expired December 31, 2021. (b) Maximum leverage ratio during the Covenant Modification Period (a quarterly test that is calculated as net debt for borrowed money divided by consolidated EBITDA, both as defined in the amended and restated Credit Facility - with a cap on cash netting of $1.75 billion) of 4.25x. This ratio had temporarily replaced the pre-amendment maximum leverage ratio (a quarterly test that is calculated as debt for borrowed money divided by consolidated EBITDA, both as defined in the amended and restated Credit Facility) of 4.25x, which is effective for the quarter ended March 31, 2022. (c) Minimum interest coverage ratio (a quarterly test that is calculated as consolidated EBITDA divided by consolidated interest expense, both as defined in the amended and restated Credit Facility) may not be less than 3.00x. (d) Limitations on (i) liens securing debt, (ii) mergers, consolidations and liquidations, (iii) limitations on debt incurred by certain subsidiaries, (iv) sale of all or substantially all our assets, (v) payment restrictions affecting subsidiaries, (vi) non-arm's length transactions with affiliates, (vii) change in nature of business, (viii) actions that may violate OFAC and anti-corruption laws. The Credit Facility contains various events of default, the occurrence of which could result in termination of the lenders' commitments to lend and the acceleration of all our obligations under the amended and restated Credit Facility. These events of default include, without limitation: (i) payment defaults, (ii) breaches of covenants under the amended and restated Credit Facility (certain of which breaches do not have any grace period), (iii) cross-defaults and acceleration to certain of our other obligations and (iv) a change of control of Xerox Holdings. Secured Borrowings and Collateral In September 2021, we entered into a secured loan agreement with a financial institution where we sold $331 of U.S. based finance receivables and the rights to payments under operating leases with an equipment net book value of $9 to a special purpose entity (SPE). The purchase by the SPE was funded through a $311 amortizing secured loan to the SPE from the financial institution. The secured loan was an amendment of the July 2020 secured borrowing with the same financial institution, which had a remaining balance of $136, and we received the incremental net cash. The transaction was accounted for as an extinguishment of debt and the issuance of new debt and associated collateral. The new loan has a variable interest rate based on LIBOR plus a spread (current rate of 1.40% at December 31, 2021) and an expected life of approximately 2.5 years with half projected to be repaid within the first year based on collections of the underlying portfolio of receivables. In October 2021, we entered into an interest rate hedge agreement to cap LIBOR over the life of the loan. In December 2020, we entered into a secured loan agreement with a financial institution where we sold $610 of U.S. based finance receivables to an SPE. The purchase by the SPE was funded through an amortizing secured loan to the SPE from the financial institution of $500. The debt has a variable interest rate based on the financial institution's cost of funds plus a spread (current rate of 1.74% at December 31, 2021). Refer to Note 27 - Subsequent Events for additional information related to this arrangement. The sales of the receivables to the SPEs were structured as "true sales at law," and we have received opinions to that effect from outside legal counsel. However, the transactions were accounted for as secured borrowings as we consolidate the SPEs since we have both the power to direct the activities that most significantly impact the SPEs' economic performance through our role as servicer of all the receivables held by the SPEs, and the obligation through variable interests in the SPEs to absorb losses or receive benefits that could potentially be significant to the SPEs. As a result, the assets of the SPEs are not available to satisfy any of our other obligations. Conversely, the credit holders of these SPEs do not have legal recourse to the Company’s general credit. Below are the assets and liabilities held by the consolidated SPEs, which are included in our Consolidated Balance Sheet: December 31, December 31, Assets held by SPEs Billed portion of finance receivables, net $ 27 $ 28 Finance receivables, net 299 350 Finance receivables due after one year, net 362 510 Equipment on operating leases, net 8 8 Restricted cash (1) 32 22 Total Assets $ 728 $ 918 Liabilities held by SPEs Current portion of long-term debt, net (2) $ 350 $ 394 Long term debt, net 210 370 Total Liabilities $ 560 $ 764 ____________ _ (1) Restricted cash is included in Other current assets in our Consolidated Balance Sheet. (2) Amounts net of unamortized debt issuance costs of $1. Interest Interest paid on our short-term and long-term debt amounted to $203, $181 and $221 for the years ended December 31, 2021, 2020 and 2019, respectively. Interest expense and interest income was as follows: Year Ended December 31, 2021 2020 2019 Interest expense (1) (2) $ 207 $ 215 $ 236 Interest income (3) 225 240 260 _____________ (1) Includes Equipment financing interest as well as non-financing interest expense included in Other expenses, net in the Consolidated Statements of (Loss) Income. (2) Interest expense of Xerox Corporation included intercompany expense associated with the Xerox Holdings Corporation/Xerox Corporation Intercompany Loan of $80 and $32 for the years ended December 31, 2021 and 2020, respectively. (3) Includes Finance income, as well as other interest income that is included in Other expenses, net in the Consolidated Statements of (Loss) Income.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments We are exposed to market risk from changes in foreign currency exchange rates and interest rates, which could affect operating results, financial position and cash flows. We manage our exposure to these market risks through our regular operating and financing activities and, when appropriate, through the use of derivative financial instruments. These derivative financial instruments are utilized to hedge economic exposures, as well as to reduce earnings and cash flow volatility resulting from shifts in market rates. We enter into limited types of derivative contracts, including interest rate swap agreements, interest rate caps, foreign currency spot, forward and swap contracts and net purchased foreign currency options to manage interest rate and foreign currency exposures. Our primary foreign currency market exposures include the Japanese Yen, Euro and U.K. Pound Sterling. The fair market values of all our derivative contracts change with fluctuations in interest rates and/or currency exchange rates and are designed so that any changes in their values are offset by changes in the values of the underlying exposures. Derivative financial instruments are held solely as risk management tools and not for trading or speculative purposes. The related cash flow impacts of all of our derivative activities are reflected as cash flows from operating activities. We do not believe there is significant risk of loss in the event of non-performance by the counterparties associated with our derivative instruments because these transactions are executed with a diversified group of major financial institutions. Further, our policy is to deal only with counterparties having a minimum investment grade or better credit rating. Credit risk is managed through the continuous monitoring of exposures to such counterparties. Interest Rate Risk Management We use interest rate swap and interest rate cap 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. At December 31, 2021, there was one interest rate cap contract outstanding. Fair Value Hedges In 2020 we terminated our remaining pay variable/receive fixed interest rate swaps with the notional amount of $200 and net asset fair value of $4 prior to termination. In 2019, we terminated an interest rate swap with a notional amount of $100 and an immaterial net asset fair value. In both instances, the swaps had been designated and accounted for as fair value hedges prior to termination. The swaps were structured to hedge the fair value of related debt by converting them from fixed rate instruments to variable rate instruments. Prior to termination no ineffective portion was recorded to earnings for the years ended December 31, 2020 and 2019. The corresponding net fair value adjustment to the hedged debt of ($4) is being recognized in earnings concurrently with the remaining term of the related debt, which may include early extinguishment. The remaining unamortized debt fair value adjustment associated with all terminated swaps was $0 and $1 at December 31, 2021 and 2020, respectively. In 2021, 2020 and 2019, the amortization of these fair value adjustments reduced interest expense by $1, $2 and $1, respectively, and the loss on early extinguishment of debt in 2020 by $2. Foreign Exchange Risk Management We are a global company and we are 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 December 31, 2021, we had outstanding forward exchange and purchased option contracts with gross notional values of $1,113, with terms of less than 12 months. At December 31, 2021, approximately 84% of these contracts mature within three months, 7% in three to six months and 9% in six to twelve months. The associated exposures being hedged at December 31, 2021 were lower by 4.1%, as compared to December 31, 2020. There has not been any material changes in our hedging strategy during 2021. The following is a summary of the primary hedging positions and corresponding fair values as of December 31, 2021: Currencies Hedged (Buy/Sell) Gross Fair Value Asset (1) Japanese Yen/U.S. Dollar $ 262 $ (6) Euro/U.K. Pound Sterling 197 (2) Japanese Yen/Euro 169 (1) Euro/U.S. Dollar 145 1 U.S. Dollar/Euro 118 1 U.S. Dollar/Canadian Dollar 50 1 Euro/Danish Krone 34 — Euro/Canadian Dollar 28 — U.K. Pound Sterling/Euro 23 — U.S. Dollar/Russian Ruble 10 — U.S. Dollar/Brazilian Real 10 — U.S. Dollar/Israeli Shekel 8 — Russian Ruble/U.S. Dollar 8 — All Other 51 (1) Total Foreign exchange hedging $ 1,113 $ (7) ____________ (1) Represents the net receivable (payable) amount included in the Consolidated Balance Sheet at December 31, 2021. 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. No amount of ineffectiveness was recorded in the Consolidated Statements of (Loss) 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. The net (liability) asset fair value of these contracts were $(3) and $2 as of December 31, 2021 and 2020, respectively. Summary of Derivative Instruments Fair Value The following table provides a summary of the fair value amounts of our derivative instruments: December 31, Designation of Derivatives Balance Sheet Location 2021 2020 Derivatives Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 3 $ 3 Accrued expenses and other current liabilities (6) (2) Foreign currency options Other current assets — 1 Interest rate cap Other long-term assets 1 — Net Designated Derivative (Liability) Asset $ (2) $ 2 Derivatives NOT Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 1 $ 3 Accrued expenses and other current liabilities (5) (3) Net Undesignated Derivative Liability $ (4) $ — Summary of Derivatives Total Derivative Assets $ 5 $ 7 Total Derivative Liabilities (11) (5) Net Derivative (Liability) Asset $ (6) $ 2 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 and (losses). Designated Derivative Instruments Gains (Losses) The following tables provide a summary of gains (losses) on derivative instruments: Derivative (Loss) Gain Recognized in Income Hedged Item Gain (Loss) Recognized in Income Derivatives in Fair Value Location of Gain (Loss) Year Ended December 31, 2021 2020 2019 2021 2020 2019 Interest rate contracts Interest expense $ — $ (1) $ 4 $ — $ 1 $ (4) Derivative (Loss) Gain Recognized in OCI (Effective Portion) (Loss) Gain Reclassified from AOCI to Income (Effective Portion) Derivatives in Cash Flow Year Ended December 31, Location of Derivative Year Ended December 31, 2021 2020 2019 2021 2020 2019 Foreign exchange contracts – forwards/options $ (12) $ 4 $ 2 Cost of sales $ (7) $ (1) $ 9 For the three years ended December 31, 2021, 2020 and 2019 no amount of ineffectiveness was recorded in the Consolidated Statements of (Loss) Income for these designated cash flow hedges. 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. At December 31, 2021, a net after-tax loss of $2 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: Year Ended December 31, Derivatives NOT Designated as Hedging Instruments Location of Derivative (Loss) Gain 2021 2020 2019 Foreign exchange contracts – forwards Other expense – Currency (losses) gains, net $ (26) $ 14 $ (6) For the three years ended December 31, 2021, 2020 and 2019, we recorded Currency losses, net of $7, $3 and $7, 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	12 Months Ended
	Dec. 31, 2021
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' fair value measured on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs. As of December 31, 2021 2020 Assets Foreign exchange contracts - forwards $ 4 $ 6 Foreign currency options — 1 Interest rate cap 1 — Deferred compensation investments in mutual funds 18 18 Total $ 23 $ 25 Liabilities Foreign exchange contracts - forwards $ 11 $ 5 Deferred compensation plan liabilities 18 17 Total $ 29 $ 22 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: December 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Cash and cash equivalents $ 1,840 $ 1,840 $ 2,625 $ 2,625 Accounts receivable, net 818 818 883 883 Short-term debt and current portion of long-term debt 650 653 394 396 Long-term debt Xerox Holdings Corporation $ 1,494 $ 1,579 $ 1,493 $ 1,596 Xerox Corporation 1,892 1,987 2,187 2,298 Xerox - Other Subsidiaries (1) 210 210 370 372 Total Long-term debt $ 3,596 $ 3,776 $ 4,050 $ 4,266 _____________ (1) Represents subsidiaries of Xerox Corporation.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	Employee Benefit Plans We sponsor numerous defined benefit and defined contribution pension and other post-retirement benefit plans, primarily retiree health care, in our domestic and international operations. December 31 is the measurement date for all of our post-retirement benefit plans. Where legally possible, we have amended our major defined benefit pension plans to freeze current benefits and eliminate benefit accruals for future service, including our primary U.S. defined benefit plan for salaried employees, the Canadian Salary Pension Plan and the U.K. Final Salary Pension Plan. In certain Non-U.S. plans, we are required to continue to consider salary increases and inflation in determining the benefit obligation related to prior service. Our pension plan in the Netherlands was changed to a Collective Defined Contribution (CDC) plan. From a Company risk perspective, this plan operates just like a defined contribution plan as the company is only responsible for a contribution for annual benefit accruals under 5-year agreements. Although the Company's risk has been mitigated, under U.S. GAAP this plan doesn’t meet the definition of a defined contribution plan and therefore is accounted for as a defined benefit plan. Prior to the freeze of current benefits, most of our defined benefit pension plans generally provided employees a benefit, depending on eligibility, calculated under a highest average pay and years of service formula. Our primary domestic defined benefit pension plans provided a benefit at the greater of (i) the highest average pay and years of service formula, (ii) the benefit calculated under a formula that provides for the accumulation of salary and interest credits during an employee's work life or (iii) the individual account balance from the Company's prior defined contribution plan (Transitional Retirement Account or TRA). Pension plan assets consist of both defined benefit plan assets and assets legally restricted to the TRA accounts. The combined investment results for our primary domestic plans, along with the results for our other defined benefit plans, are shown below in the “actual return on plan assets” caption. To the extent that investment results relate to TRA assets, such results are charged directly to these accounts as a component of interest cost. Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health 2021 2020 2021 2020 2021 2020 Change in Benefit Obligation: Benefit obligation, January 1 $ 3,747 $ 3,598 $ 7,159 $ 6,492 $ 370 $ 385 Service cost 2 2 20 20 2 2 Interest cost 80 196 88 113 8 12 Plan participants' contributions — — 3 3 8 10 Actuarial (gain) loss (86) 240 (233) 439 (1) 4 Currency exchange rate changes — — (193) 374 — 3 Plan Amendments/Curtailments — — (4) 2 (50) (11) Benefits paid/settlements (371) (289) (297) (284) (34) (35) Other — — — — — — Benefit Obligation, December 31 $ 3,372 $ 3,747 $ 6,543 $ 7,159 $ 303 $ 370 Change in Plan Assets: Fair value of plan assets, January 1 $ 2,802 $ 2,493 $ 7,199 $ 6,385 $ — $ — Actual return on plan assets 89 563 415 637 — — Employer contributions 24 35 111 104 25 25 Plan participants' contributions — — 3 3 8 10 Currency exchange rate changes — — (178) 354 — — Benefits paid/settlements (371) (289) (297) (284) (33) (35) Other — — (1) — — — Fair Value of Plan Assets, December 31 $ 2,544 $ 2,802 $ 7,252 $ 7,199 $ — $ — Net Funded Status at December 31 (1) $ (828) $ (945) $ 709 $ 40 $ (303) $ (370) Amounts Recognized in the Consolidated Balance Sheets: Other long-term assets $ — $ — $ 1,211 $ 617 $ — $ — Accrued compensation and benefit costs (24) (24) (21) (24) (26) (30) Pension and other benefit liabilities (804) (921) (481) (553) — — Post-retirement medical benefits — — — — (277) (340) Net Amounts Recognized $ (828) $ (945) $ 709 $ 40 $ (303) $ (370) Accumulated Benefit Obligation $ 3,372 $ 3,747 $ 6,412 $ 7,018 _____________ (1) Includes under-funded and unfunded plans. Benefit plans pre-tax amounts recognized in AOCL at December 31st: Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health 2021 2020 2021 2020 2021 2020 Net actuarial loss (gain) $ 745 $ 874 $ 939 $ 1,471 $ (25) $ (23) Prior service (credit) cost — (1) 29 27 (83) (99) Total Pre-tax loss (gain) $ 745 $ 873 $ 968 $ 1,498 $ (108) $ (122) Aggregate information for pension plans with an Accumulated benefit obligation in excess of plan assets is presented below. Information for Retiree Health plans with an accumulated post-retirement benefit obligation in excess of plan assets has been disclosed in the preceding table on Benefit obligations and Net funded status as all Retiree Health plans are unfunded. December 31, 2021 December 31, 2020 Accumulated Benefit Obligation Fair Value of Plan Assets Accumulated Benefit Obligation Fair Value of Plan Assets Underfunded Plans: U.S. $ 3,056 $ 2,544 $ 3,408 $ 2,802 Non U.S. 181 144 921 873 Unfunded Plans: U.S. $ 316 $ — $ 339 $ — Non U.S. 440 — 502 — Total Underfunded and Unfunded Plans: U.S. $ 3,372 $ 2,544 $ 3,747 $ 2,802 Non U.S. 621 144 1,423 873 Total $ 3,993 $ 2,688 $ 5,170 $ 3,675 Aggregate information for pension plans with a benefit obligation in excess of plan assets is presented below: December 31, 2021 December 31, 2020 Benefit Obligation Fair Value of Plan Assets Benefit Obligation Fair Value of Plan Assets Underfunded Plans: U.S. $ 3,056 $ 2,544 $ 3,408 $ 2,802 Non U.S. 810 751 942 873 Unfunded Plans: U.S. $ 316 $ — $ 339 $ — Non U.S. 447 — 512 — Total Underfunded and Unfunded Plans: U.S. $ 3,372 $ 2,544 $ 3,747 $ 2,802 Non U.S. 1,257 751 1,454 873 Total $ 4,629 $ 3,295 $ 5,201 $ 3,675 Pension plan assets and benefit obligations by country were as follows: December 31, 2021 December 31, 2020 Fair Value of Pension Plan Assets Pension Benefit Obligations Net Funded Status Fair Value of Pension Plan Assets Pension Benefit Obligations Net Funded Status U.S. funded $ 2,544 $ 3,056 $ (512) $ 2,802 $ 3,408 $ (606) U.S. unfunded — 316 (316) — 339 (339) Total U.S. 2,544 3,372 (828) 2,802 3,747 (945) U.K. 4,914 3,870 1,044 4,707 4,218 489 Netherlands 1,174 1,145 29 1,266 1,226 40 Canada 746 747 (1) 794 797 (3) Germany — 346 (346) — 395 (395) Other 418 435 (17) 432 523 (91) Total $ 9,796 $ 9,915 $ (119) $ 10,001 $ 10,906 $ (905) The components of Net periodic benefit cost and other changes in plan assets and benefit obligations were as follows: Year Ended December 31, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health 2021 2020 2019 2021 2020 2019 2021 2020 2019 Components of Net Periodic Benefit Costs: Service cost $ 2 $ 2 $ 2 $ 20 $ 20 $ 22 $ 2 $ 2 $ 2 Interest cost (1) 80 196 218 88 113 153 8 12 15 Expected return on plan assets (2) (117) (217) (210) (208) (191) (233) — — — Recognized net actuarial loss (gain) 17 27 24 59 58 43 1 (1) (5) Amortization of prior service credit (1) (2) (2) (1) (1) (2) (66) (76) (77) Recognized settlement loss 54 53 93 1 1 1 — — — Recognized curtailment gain — — — (4) (1) — — — — Defined Benefit Plans 35 59 125 (45) (1) (16) (55) (63) (65) Defined contribution plans — 1 26 18 18 23 n/a n/a n/a Net Periodic Benefit Cost (Credit) 35 60 151 (27) 17 7 (55) (63) (65) Other changes in plan assets and benefit obligations recognized in Other Comprehensive Income (Loss): Net actuarial (gain) loss (57) (105) 243 (425) (9) 24 (1) 4 8 Prior service (credit) cost — — — (4) 4 — (50) (11) — Amortization of net actuarial (loss) gain (71) (80) (117) (60) (59) (44) (1) 1 5 Amortization of net prior service credit 1 2 2 1 1 2 66 76 77 Curtailment gain — — — 4 1 — — — — Total Recognized in Other Comprehensive Income (Loss) (3) (127) (183) 128 (484) (62) (18) 14 70 90 Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) $ (92) $ (123) $ 279 $ (511) $ (45) $ (11) $ (41) $ 7 $ 25 _____________ (1) Interest cost for Pension Benefits includes interest expense on non-TRA obligations of $150, $184 and $243 and interest expense (income) directly allocated to TRA participant accounts of $18, $125 and $128 for the years ended December 31, 2021, 2020 and 2019, respectively. (2) Expected return on plan assets includes expected investment income on non-TRA assets of $307, $283 and $315 and actual investment income (loss) on TRA assets of $18, $125 and $128 for the years ended December 31, 2021, 2020 and 2019, respectively. (3) Amounts represent the pre-tax effect included in Other comprehensive income. Refer to Note 25 - Other Comprehensive Income (Loss) for the related tax effects and the net of tax amounts. Plan Amendments Pension: In October 2018, the High Court of Justice in the United Kingdom (the High Court) ruled that Lloyds Bank PLC was required to equalize benefits payable to men and women under its U.K. defined benefit pension plans by amending those plans to increase the pension benefits payable to participants that accrued such benefits during the period from 1990 to 1997. The inequalities arose from statutory differences in the retirement ages and rates of accrual of benefits for men and women related to Guaranteed Minimum Pension (GMP) benefits that are included in U.K. defined benefit pension plans. Based on the above ruling, we estimated the cost of equalization under the minimum cost approach permitted by the High Court’s ruling to be approximately 1.2% of our U.K. defined benefit plan obligation at December 31, 2018 or approximately GBP 33 million (approximately USD $42). This increase in the benefit obligation was recorded as a plan amendment in 2018. In November 2020, the High Court made another ruling in this matter related to benefit transfers out of the plan prior to the date of the 2018 ruling, which increased our estimated cost of equalization by a further GBP 3 million (approximately USD $4). Consistent with our approach to the estimate in 2018, the increase in the benefit obligation was recorded as a plan amendment in 2020 and together with the 2018 adjustment will be amortized to future net periodic benefit costs as a prior service cost (total approximately USD $2 per year covering both adjustments). At December 31, 2021, the aggregate cost for this matter is estimated to be approximately 0.8% of the U.K. defined benefit plan obligation before equalization or approximately GBP 23 million (approximately USD $31) a reduction of approximately GBP 13 million (approximately USD $18) from prior estimates, which was accounted for as an actuarial gain. This latest estimate reflects a more recent analysis completed by the Plan Actuary. However, several significant uncertainties remain and therefore our estimate is subject to future change and adjustment. In particular, the cost is very sensitive to i) the method of GMP equalization; ii) actuarial assumptions and market conditions; iii) the benefit structure of our plan and operational practices; and iv) the demographic profile of our plan. In addition, we are continuing to evaluate the acceptable methodologies that the High Court has determined, and we still need to agree upon the appropriate methodology with our plan trustees. Retiree Health Plans: In December 2021, we amended our U.S. Retiree Health Plan to reduce certain benefits for existing union retirees through the reduction or elimination of coverage or cost-sharing subsidies for retiree health care and life insurance costs. This negative plan amendment resulted in a reduction of $50 in the postretirement benefit obligation. The amount for the plan amendment will be amortized to future net periodic benefit costs as a prior service credit beginning in 2022. In October 2020, we reduced the level of Company cost sharing for retiree health care benefits provided to certain existing non-union retirees. This change to our U.S. Retiree Health Plan was effective January 1, 2021. The change in cost sharing is considered a negative plan amendment resulting in a reduction in the postretirement benefit obligation of $11. The amount for the plan amendment will be amortized to future net periodic benefit costs as a prior service credit. Plan Assets Current Allocation As of the 2021 and 2020 measurement dates, the global pension plan assets were $9,796 and $10,001, respectively. These assets were invested among several asset classes. The following tables present the defined benefit plans assets measured at fair value and the basis for that measurement. December 31, 2021 U.S. Plans Non-U.S. Plans Asset Class Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Cash and cash equivalents $ 3 $ — $ — $ — $ 3 $ 477 $ — $ — $ — $ 477 Equity Securities: U.S. 148 — — — 148 35 36 — — 71 International 161 — — 230 391 699 339 — 37 1,075 Fixed Income Securities: U.S. treasury securities — 214 — — 214 — 61 — — 61 Debt security issued by government agency — 119 — — 119 — 2,181 — — 2,181 Corporate bonds — 1,134 — — 1,134 — 985 — — 985 Derivatives — 5 — — 5 — 300 — — 300 Real estate — — 51 10 61 — — 164 112 276 Private equity/venture capital — — — 239 239 — — 4 1,684 1,688 Guaranteed insurance contracts — — — — — — — 75 — 75 Other (2)(3) 95 — — 135 230 22 41 — — 63 Total Fair Value of Plan Assets $ 407 $ 1,472 $ 51 $ 614 $ 2,544 $ 1,233 $ 3,943 $ 243 $ 1,833 $ 7,252 _____________ (1) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. (2) Other NAV includes mutual funds of $75 (measured at NAV) which are invested approximately 75% in fixed income securities and approximately 25% in equity securities. (3) Other Level 1 includes mutual funds of $93, which are invested in equity securities, and net non-financial assets of $2 U.S. and $22 Non-U.S., respectively, such as due to/from broker, interest receivables and accrued expenses. December 31, 2020 U.S. Plans Non-U.S. Plans Asset Class Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Cash and cash equivalents $ 17 $ — $ — $ — $ 17 $ 401 $ — $ — $ — $ 401 Equity Securities: U.S. 224 — — 39 263 178 56 — — 234 International 243 — — 204 447 559 321 — 151 1,031 Fixed Income Securities: U.S. treasury securities — 325 — — 325 — 77 — — 77 Debt security issued by government agency — 78 — — 78 — 2,026 — — 2,026 Corporate bonds — 1,252 — — 1,252 — 921 — — 921 Derivatives — 11 — — 11 — 488 — — 488 Real estate — — 31 10 41 — — 208 108 316 Private equity/venture capital — — — 209 209 — — 3 1,557 1,560 Guaranteed insurance contracts — — — — — — — 86 — 86 Other (2)(3) 7 — — 152 159 21 38 — — 59 Total Fair Value of Plan Assets $ 491 $ 1,666 $ 31 $ 614 $ 2,802 $ 1,159 $ 3,927 $ 297 $ 1,816 $ 7,199 _____________ (1) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. (2) Other NAV includes mutual funds of $73 (measured at NAV) which are invested approximately 70% in fixed income securities and approximately 30% in equity securities. (3) Other Level 1 includes net non-financial (liabilities) assets of $7 U.S. and $21 Non-U.S., respectively, such as due to/from broker, interest receivables and accrued expenses. The following tables represents a roll-forward of the defined benefit plans assets measured at fair value using significant unobservable inputs (Level 3 assets): U.S. Non-U.S. Real Estate Real Estate Private Equity/Venture Capital Guaranteed Insurance Contracts Total Balance at December 31, 2019 $ 5 $ 219 $ 5 $ 90 $ 314 Purchases 27 — 3 — 3 Sales — (15) — (4) (19) Unrealized losses (1) (8) (4) (8) (20) Currency translation — 12 (1) 8 19 Balance at December 31, 2020 $ 31 $ 208 $ 3 $ 86 $ 297 Purchases 15 10 — — 10 Sales — (33) — (5) (38) Unrealized gains (losses) 5 (12) 1 1 (10) Currency translation — (9) — (7) (16) Balance at December 31, 2021 $ 51 $ 164 $ 4 $ 75 $ 243 Level 3 Valuation Method Our primary Level 3 assets are Real Estate and Private Equity/Venture Capital investments. The fair value of our real estate investment funds is based on the Net Asset Value (NAV) of our ownership interest in the funds. NAV information is received from the investment advisers and is primarily derived from third-party real estate appraisals for the properties owned. The fair value for our private equity/venture capital partnership investments are based on our share of the estimated fair values of the underlying investments held by these partnerships as reported (or expected to be reported) in their audited financial statements. The valuation techniques and inputs for our Level 3 assets have been consistently applied for all periods presented. Investment Strategy The target asset allocations for our worldwide defined benefit pension plans were: 2021 2020 U.S. Non-U.S. U.S. Non-U.S. Equity investments (1) 24% 15% 23% 15% Fixed income investments 60% 44% 61% 44% Real estate 6% 4% 6% 4% Private equity/venture capital 8% 24% 8% 22% Other 2% 13% 2% 15% Total Investment Strategy 100% 100% 100% 100% _____________ (1) Target allows for an additional allocation to synthetic equity which is offset by cash. We employ a total return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets for a prudent level of risk. The intent of this strategy is to minimize plan expenses by exceeding the interest growth in long-term plan liabilities. Risk tolerance is established through careful consideration of plan liabilities, plan funded status and corporate financial condition. This consideration involves the use of long-term measures that address both return and risk. The investment portfolio contains a diversified blend of equity and fixed income investments. Furthermore, equity investments are diversified across U.S. and non-U.S. stocks, as well as growth, value and small and large capitalizations. Other assets such as real estate, private equity, and hedge funds are used to improve portfolio diversification. Derivatives may be used to hedge market exposure in an efficient, timely and cost-effective manner; however, derivatives may not be used to speculate or leverage the portfolio beyond the market value of the underlying investments. Investment risks and returns are measured and monitored on an ongoing basis through annual liability measurements and quarterly investment portfolio reviews. Expected Long-term Rate of Return We employ a “building block” approach in determining the long-term rate of return for plan assets. Historical markets are studied and long-term relationships between equities and fixed income are assessed. Current market factors such as inflation and interest rates are evaluated before long-term capital market assumptions are determined. The long-term portfolio return is established giving consideration to investment diversification and rebalancing. Peer data and historical returns are reviewed periodically to assess reasonableness and appropriateness. Contributions The following table summarizes cash contributions to our defined benefit pension plans and retiree health benefit plans. Year Ended December 31, 2021 Estimated 2022 U.S. Plans $ 24 $ 25 Non-U.S. Plans 111 110 Total $ 135 $ 135 Retiree Health $ 25 $ 25 The 2021 U.S. Defined benefit plans contributions did not include any contributions for our domestic tax-qualified defined benefit plans because none were required to meet the minimum funding requirements. There are no contributions required in 2022 for our U.S. tax-qualified defined benefit plans to meet the minimum funding requirements. Estimated Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the following years: Pension Benefits U.S. Non-U.S. Total Retiree Health 2022 $ 349 $ 284 $ 633 $ 25 2023 301 291 592 25 2024 287 301 588 24 2025 276 304 580 22 2026 263 313 576 21 Years 2027-2031 1,095 1,681 2,776 87 Assumptions Weighted-average assumptions used to determine benefit obligations at the plan measurement dates: Pension Benefits 2021 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 2.7 % 1.8 % 2.2 % 1.3 % 3.1 % 1.8 % Rate of compensation increase 0.1 % 2.8 % 0.1 % 2.6 % 0.2 % 2.6 % Interest crediting rate 2.8 % 1.5 % 2.8 % 1.5 % 2.8 % 1.5 % Retiree Health 2021 2020 2019 Discount rate 2.7 % 2.2 % 3.0 % Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31: Pension Benefits 2022 2021 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 2.7 % 1.8 % 2.2 % 1.3 % 3.1 % 1.8 % 4.2 % 2.6 % Expected return on plan assets 5.9 % 3.2 % 5.9 % 3.1 % 6.0 % 3.3 % 6.0 % 4.0 % Rate of compensation increase 0.1 % 2.8 % 0.1 % 2.6 % 0.2 % 2.6 % 0.2 % 2.6 % Interest crediting rate 2.5 % 1.5 % 2.8 % 1.5 % 2.8 % 1.5 % 2.8 % 1.5 % Retiree Health 2022 2021 2020 2019 Discount rate 2.7 % 2.2 % 3.0 % 4.1 % _____________ Note: Expected return on plan assets is not applicable to retiree health benefits as these plans are not funded. Rate of compensation increase is not applicable to retiree health benefits as compensation levels do not impact earned benefits. Assumed health care cost trend rates were as follows: December 31, 2021 2020 Health care cost trend rate assumed for next year 5.3 % 5.7 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.3 % 4.3 % Year that the rate reaches the ultimate trend rate 2026 2025 Defined Contribution Plans We have post-retirement savings and investment plans in several countries, including the U.S., the U.K. and Canada. In many instances, employees who participated in the defined benefit pension plans that have been amended to freeze future service accruals were transitioned to an enhanced defined contribution plan. In these plans, employees are allowed to contribute a portion of their salaries and bonuses to the plans, and we match a portion of the employee contributions. We recorded charges related to our defined contribution plans of $18 in 2021, $19 in 2020 and $49 in 2019.

Income and Other Taxes

Income and Other Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income and Other Taxes	Income and Other Taxes (Loss) income before income taxes and equity income (pre-tax (loss) income) from continuing operations was as follows: Year Ended December 31, 2021 2020 2019 Domestic (loss) income $ (343) $ 353 $ 679 Foreign (loss) income (132) (101) 143 (Loss) Income before Income Taxes and Equity Income $ (475) $ 252 $ 822 The components of Income tax (benefit) expense from continuing operations were as follows: Year Ended December 31, 2021 2020 2019 Federal Income Taxes Current $ 33 $ 3 $ (3) Deferred (61) 58 98 Foreign Income Taxes Current 29 19 43 Deferred (20) (34) 5 State Income Taxes Current 10 8 15 Deferred (8) 10 21 Income Tax (Benefit) Expense $ (17) $ 64 $ 179 A reconciliation of the U.S. federal statutory income tax rate to the consolidated effective income tax rate was as follows: Year Ended December 31, 2021 2020 2019 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % Nondeductible expenses (1.9) % 4.1 % 1.3 % Effect of tax law changes 3.1 % (10.5) % (4.6) % Change in valuation allowance for deferred tax assets 2.0 % 9.9 % 2.0 % State taxes, net of federal benefit (0.6) % 5.5 % 3.5 % Audit and other tax return adjustments 5.6 % 1.4 % 0.6 % Tax-exempt income, credits and incentives 4.5 % (5.9) % (2.1) % Foreign rate differential adjusted for U.S. taxation of foreign profits (1) (0.9) % (2.6) % 0.1 % Stock-based compensation (0.2) % 2.3 % (0.3) % Goodwill impairment (29.1) % — % — % Other 0.1 % 0.2 % 0.3 % Effective Income Tax Rate 3.6 % 25.4 % 21.8 % _____________ (1) The “U.S. taxation of foreign profits” represents the U.S. tax, net of foreign tax credits, associated with actual and deemed repatriations of earnings from our non-U.S. subsidiaries. On a consolidated basis, including discontinued operations, we paid a total of $61, $32 and $94 in income taxes to federal, foreign and state jurisdictions during the three years ended December 31, 2021, 2020 and 2019, respectively. Total income tax expense (benefit) was allocated to the following items: Year Ended December 31, 2021 2020 2019 Pre-tax (loss) income $ (17) $ 64 $ 179 Discontinued operations (1) — — 95 Common shareholders' equity: Changes in defined benefit plans 143 43 (55) Cash flow hedges (1) 1 (1) Translation adjustments (4) (3) 8 Retained Earnings — — — Total Income Tax Expense $ 121 $ 105 $ 226 _____________ (1) Refer to Note 6 - Divestitures for additional information regarding discontinued operations. Unrecognized Tax Benefits and Audit Resolutions We recognize tax liabilities when, despite our belief that our tax return positions are supportable, we believe that certain positions may not be fully sustained upon review by tax authorities. Each period, we assess uncertain tax positions for recognition, measurement and effective settlement. Benefits from uncertain tax positions are measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement - the more-likely-than-not recognition threshold. Where we have determined that our tax return filing position does not satisfy the more-likely-than-not recognition threshold, we have recorded no tax benefits. These assessments require the use of considerable estimates and judgments and can increase or decrease our effective tax rate, as well as impact our operating results. A difference in the ultimate resolution of uncertain tax positions from what is currently estimated could have a material impact on our results of operations and financial condition. The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in a variety of jurisdictions. We are also subject to ongoing tax examinations in numerous jurisdictions due to the extensive geographical scope of our operations. As a result, we have received, and may in the future receive, proposed tax adjustments and tax assessments in multiple jurisdictions. We regularly assess the likelihood of the outcomes resulting from these ongoing tax examinations as part of our continuing assessment of uncertain tax positions to determine our provision for income taxes. The specific timing of when the resolution of each tax position will be reached is uncertain. As of December 31, 2021, we do not believe that there are any positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2021 2020 2019 Balance at January 1 $ 115 $ 127 $ 108 Additions related to current year 7 3 42 Additions related to prior years positions — 8 17 Reductions related to prior years positions (14) (10) (36) Settlements with taxing authorities (1) 7 (8) (1) Reductions related to lapse of statute of limitations (7) (7) (3) Currency (1) 2 — Balance at December 31 $ 107 $ 115 $ 127 _____________ (1) The majority of settlements did not result in the utilization of cash. Included in the balances at December 31, 2021, 2020 and 2019 are $1, $8 and $3, respectively, of tax positions that are highly certain of realizability but for which there is uncertainty about the timing or that they may be reduced through an indirect benefit from other taxing jurisdictions. Because of the impact of deferred tax accounting, other than for the possible incurrence of interest and penalties, the disallowance of these positions would not affect the annual effective tax rate. Within income tax expense, we recognize interest and penalties accrued on unrecognized tax benefits, as well as interest received from favorable settlements. We had $1, $4 and $2 accrued for the payment of interest and penalties associated with unrecognized tax benefits at December 31, 2021, 2020 and 2019, respectively. In the U.S., we are no longer subject to U.S. federal income tax examinations for years before 2017. With respect to our major foreign jurisdictions, we are no longer subject to tax examinations by tax authorities for years before 2011. Deferred Income Taxes At December 31, 2021 we have not provided deferred taxes on our undistributed pre-1987 E&P of approximately $330, as such undistributed earnings have been determined to be indefinitely reinvested and we currently do not plan to initiate any action that would precipitate a deferred tax impact. The decrease from the amount at December 31, 2020 of $350 is due to foreign currency translation adjustments. Additionally, we have also not provided deferred taxes on the outside basis differences in our investments in foreign subsidiaries that are unrelated to undistributed earnings. These basis differences are also indefinitely reinvested. A determination of the unrecognized deferred taxes related to these components is not practicable. The tax effects of temporary differences that give rise to significant portions of the deferred taxes were as follows: December 31, 2021 2020 Deferred Tax Assets Research and development $ 185 $ 150 Post-retirement medical benefits 78 94 Net operating losses 363 377 Operating reserves, accruals and deferrals 133 124 Tax credit carryforwards 143 249 Deferred and share-based compensation 24 13 Pension 7 211 Depreciation 31 35 Operating lease liabilities 62 82 Other 36 44 Subtotal 1,062 1,379 Valuation allowance (357) (396) Total $ 705 $ 983 Deferred Tax Liabilities Finance lease and installment sales $ 61 $ 247 Intangibles and goodwill 122 140 Unremitted earnings of foreign subsidiaries 31 31 Operating lease ROU assets 58 76 Other 22 16 Total $ 294 $ 510 Total Deferred Taxes, Net $ 411 $ 473 Reconciliation to the Consolidated Balance Sheets Deferred tax assets $ 519 $ 508 Deferred tax liabilities (1) (108) (35) Total Deferred Taxes, Net $ 411 $ 473 _____________ (1) Represents the deferred tax liabilities recorded in Other long-term liabilities - refer to Note 15 - Supplementary Financial Information. We record the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and the amounts reported, as well as net operating loss and tax credit carryforwards. Deferred tax assets are assessed for realizability and, where applicable, a valuation allowance is recorded to reduce the total deferred tax asset to an amount that will, more-likely-than-not, be realized in the future. We apply judgment in assessing the realizability of these deferred tax assets and the need for any valuation allowances. In determining the amount of deferred tax assets that are more-likely-than-not to be realized, we considered historical profitability, projected future taxable income, the expected timing of the reversals of existing temporary differences and tax planning strategies. The deferred tax assets requiring significant judgment are U.S. tax credit carryforwards with a limited life. The net change in the total valuation allowance for the years ended December 31, 2021, 2020 and 2019 was a decrease of $39, a decrease of $3 and an increase of $2, respectively. The valuation allowance relates primarily to certain net operating loss carryforwards, tax credit carryforwards and deductible temporary differences for which we have concluded it is more-likely-than-not that these items will not be realized in the ordinary course of operations. Although realization is not assured, we have concluded that it is more-likely-than-not that the deferred tax assets, for which a valuation allowance was determined to be unnecessary, will be realized in the ordinary course of operations based on the available positive and negative evidence, including scheduling of deferred tax liabilities and projected income from operating activities. The amount of the net deferred tax assets considered realizable, however, could change in the near term if future income or income tax rates are higher or lower than currently estimated, or if there are differences in the timing or amount of future reversals of existing taxable or deductible temporary differences. At December 31, 2021, we had tax credit carryforwards of $143 available to offset future income taxes, of which $2 are available to carryforward indefinitely while the remaining $141 will expire 2022 through 2042 if not utilized. We also had net operating loss carryforwards for income tax purposes of $496 that will expire 2022 through 2042, if not utilized, and $1.6 billion available to offset future taxable income indefinitely.

Contingencies and Litigation

Contingencies and Litigation	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Litigation	Contingencies and Litigation As more fully discussed below, 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. Additionally, guarantees, indemnifications and claims may arise during the ordinary course of business from relationships with suppliers, customers and nonconsolidated affiliates, as well as through divestitures and sales of businesses, when the Company undertakes an obligation to guarantee the performance of others if specified triggering events occur. Nonperformance under a contract could trigger an obligation of the Company. These potential claims include actions based upon alleged exposures to products, real estate, intellectual property such as patents, environmental matters, and other indemnifications. The ultimate effect on future financial results is not subject to reasonable estimation because considerable uncertainty exists as to the final outcome of these claims. However, while the ultimate liabilities resulting from such claims may be significant to results of operations in the period recognized, management does not anticipate they will have a material adverse effect on the Company's consolidated financial position or liquidity. As of December 31, 2021, we have accrued our estimate of liability incurred under our indemnification arrangements and guarantees. Brazil Contingencies Our Brazilian operations have received or been the subject of numerous governmental assessments related to indirect and other taxes. These 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: December 31, December 31, Tax contingency - unreserved $ 292 $ 355 Escrow cash deposits 32 39 Surety bonds 96 112 Letters of credit 74 78 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 and currency, partially offset by 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 December 31, 2021 and 2020. We routinely assess all these matters as to probability of ultimately incurring a liability against our Brazilian operations and record our best estimate of the ultimate loss in situations where we assess the likelihood of an ultimate loss as probable. Litigation Against the Company Miami Firefighters’ Relief & Pension Fund v. Icahn, et al.: On December 13, 2019, alleged shareholder Miami Firefighters’ Relief & Pension Fund (“Miami Firefighters”) filed a purported derivative complaint in New York State Supreme Court, New York County on behalf of Xerox Holdings Corporation ("Xerox Holdings") (as nominal defendant) against Carl Icahn and his affiliated entities High River Limited Partnership and Icahn Capital LP (the "Icahn defendants"), Xerox Holdings, and all then-current Xerox Holdings directors (the "Directors"). Plaintiff made no demand on the Board before bringing the action, but instead alleges that doing so would be futile because the Directors lack independence due to alleged direct or indirect relationships with Icahn. Among other things, the complaint alleges that Icahn controls and dominates Xerox Holdings and therefore owes a fiduciary duty of loyalty to Xerox Holdings, which he breached by acquiring HP stock at a time when he knew that Xerox Holdings was considering an offer to acquire HP or had knowledge of the "obvious merits" of such potential acquisition, and that the Icahn defendants’ holdings of HP common stock have risen in market value by approximately $128 since disclosure of the offer. The complaint includes four causes of action: breach of fiduciary duty of loyalty against the Icahn defendants; breach of contract against the Icahn defendants (for purchasing HP stock in violation of Icahn’s confidentiality agreement with Xerox Holdings); unjust enrichment against the Icahn defendants; and breach of fiduciary duty of loyalty against the Directors (for any consent to the Icahn defendants’ purchases of HP common stock while Xerox Holdings was considering acquiring HP). The complaint seeks a judgment of breach of fiduciary duties against the Icahn defendants and the Directors; a declaration that Icahn breached his confidentiality agreement with Xerox Holdings; a constructive trust on Icahn Capital and High River's investments in HP securities; disgorgement to Xerox Holdings of profits Icahn Capital and High River earned from trading in HP stock; payment of unspecified damages by the Directors for breaching fiduciary duties; and attorneys' fees, costs, and other relief the Court deems just and proper. On January 15, 2020, the Court entered an order granting plaintiff’s unopposed motion to consolidate with Miami Firefighters a similar action filed on December 26, 2019 by alleged shareholder Steven J. Reynolds against the same parties in the same court, and designating Miami Firefighters’ counsel as lead counsel in the consolidated action. Discovery commenced. On August 10, 2020, the Xerox defendants and the Icahn defendants filed separate motions to dismiss. Briefing on the motions was completed on October 21, 2020. On December 14, 2020, following oral argument, the Court issued a decision and order granting defendants’ motions and dismissing the action in its entirety as to all defendants. Dismissal as to the Icahn defendants was conditioned on the filing of an affidavit, which the Icahn defendants filed on December 16, 2020, indicating whether defendant Icahn gained a profit or incurred a loss on purchases of HP stock during the relevant time period. On December 23, 2020, plaintiff filed a motion seeking discovery related to the Icahn defendants’ losses resulting from their investment in HP. The motion was fully briefed on January 7, 2021. On January 15, 2021, the Court issued a decision and order denying the motion. Also on January 15, 2021, plaintiff filed a notice of appeal of the December 14, 2020 dismissal order to the Appellate Division, First Department. On January 20, 2021, plaintiff filed a notice of appeal of the January 15, 2021 order denying its motion for discovery to the Appellate Division, First Department. On July 15, 2021, plaintiff filed its brief in connection with the appeals of the December 14, 2020 dismissal order and the January 15, 2021 discovery order. On November 18, 2021, the Appellate Division issued its decision. The Court reversed the lower court’s ruling to the extent that it dismissed the claims asserted against the Icahn defendants. The claims asserted against the Directors remain dismissed. On December 8, 2021, the Xerox Board approved the formation of a Special Litigation Committee to investigate and evaluate the claims and allegations asserted in the Miami Firefighters’ case and determine the course of action that would be in the best interests of the Company and its shareholders. The Special Litigation Committee moved to stay the litigation pending its investigation and on January 25, 2022, the Court issued an order staying all discovery until February 28, 2022, except as related to the issue of the alleged damages sustained by Xerox. Xerox Holdings Corporation v. Factory Mutual Insurance Company and Related Actions: On March 10, 2021, Xerox Holdings Corporation (“Xerox Holdings”) filed a complaint for breach of contract and declaratory judgment against Factory Mutual Insurance Company in Rhode Island Superior Court, Providence County seeking insurance coverage for business interruption losses resulting from the coronavirus/COVID-19 pandemic. The complaint alleges that defendant agreed to provide Xerox Holdings with up to $1 billion in per-occurrence coverage for losses resulting from pandemic-related loss or damage to certain real and other property, including business interruption loss resulting from insured property damage; that the pandemic had inflicted significant physical loss or damage to property of Xerox Holdings and its direct and indirect customers; that Xerox Holdings’ worldwide actual and projected losses through the end of 2020 totaled in excess of $300 (and is still increasing); and that following Xerox Holdings' timely and proper claim in March 2020 for coverage under the “all risk” commercial property insurance policy it had purchased from defendant, defendant improperly denied and rejected coverage for most of the claim. The complaint seeks a jury trial, a declaratory judgment against defendant declaring that Xerox is entitled to full coverage of costs and losses under defendant’s policy and declaring that defendant is required to pay for such costs and losses, subject to any applicable limits; damages in an amount to be determined at trial; consequential damages; attorneys’ fees and costs; pre- and post-judgment interest; and other relief the Court deems just and proper. Also on March 10, 2021, subsidiaries of Xerox Holdings filed similar complaints and related requests for arbitration in Toronto, London, and Amsterdam for Canadian, UK and European losses. Xerox Holdings consented to defendant’s request for an extension of its time in which to answer or otherwise respond to the complaint. On May 6, 2021, FMG filed its answer to the complaint. The parties thereafter agreed to stay all non-U.S. proceedings pending the outcome of the U.S. litigation. Guarantees, Indemnifications and Warranty Liabilities Indemnifications Provided as Part of Contracts and Agreements Acquisitions/Divestitures: 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. In addition, we customarily agree to hold the other party harmless against losses arising from a breach of representations and covenants, including such matters as adequate title to assets sold, intellectual property rights, specified environmental matters and certain income taxes arising prior to the date of acquisition. Where appropriate, an obligation for such indemnifications is recorded as a liability at the time of the acquisition or divestiture. 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. Other Agreements: We are also party to the following types of agreements pursuant to which we may be obligated to indemnify the other party with respect to certain matters: • Guarantees on behalf of our subsidiaries with respect to real estate leases. These lease guarantees may remain in effect subsequent to the sale of the subsidiary. • Agreements to indemnify various service providers, trustees and bank agents from any third-party claims related to their performance on our behalf, with the exception of claims that result from a third-party's own willful misconduct or gross negligence. • Guarantees of our performance in certain sales and services contracts to our customers and indirectly the performance of third parties with whom we have subcontracted for their services. This includes indemnifications to customers for losses that may be sustained as a result of the use of our equipment at a customer's location. In each of these circumstances, our payment is conditioned on the other party making a claim pursuant to the procedures specified in the particular contract and such procedures also typically allow us to challenge the other party's claims. In the case of lease guarantees, we may contest the liabilities asserted under the lease. Further, our obligations under these agreements and guarantees may be limited in terms of time and/or amount, and in some instances, we may have recourse against third parties for certain payments we made. Patent Indemnifications In most sales transactions to resellers of our products, we indemnify against possible claims of patent infringement caused by our products or solutions. In addition, we indemnify certain software providers against claims that may arise as a result of our use or our subsidiaries', customers' or resellers' use of their software in our products and solutions. These indemnities usually do not include limits on the claims, provided the claim is made pursuant to the procedures required in the sales contract. Indemnification of Officers and Directors The corporate by-laws of Xerox Holdings Corporation and Xerox Corporation require that, except to the extent expressly prohibited by law, we must indemnify Xerox Holdings Corporation's and Xerox Corporation's officers and directors, respectively, against judgments, fines, penalties and amounts paid in settlement, including legal fees and all appeals, incurred in connection with civil or criminal action or proceedings, as it relates to their services to Xerox Holdings Corporation and/or Xerox Corporation and their subsidiaries. Although the by-laws provide no limit on the amount of indemnification, Xerox Holdings Corporation or Xerox Corporation may have recourse against our insurance carriers for certain payments made by Xerox Holdings Corporation or Xerox Corporation. However, certain indemnification payments (such as those related to "clawback" provisions in certain compensation arrangements) may not be covered under Xerox Holdings Corporation's and Xerox Corporation's directors' and officers' insurance coverage. Xerox Holdings Corporation and Xerox Corporation also indemnify certain fiduciaries of our employee benefit plans for liabilities incurred in their service as fiduciary whether or not they are officers of Xerox Holdings Corporation or Xerox Corporation. Finally, in connection with Xerox Holdings Corporation's and/or Xerox Corporation's acquisition of businesses, we may become contractually obligated to indemnify certain former and current directors, officers and employees of those businesses in accordance with pre-acquisition by-laws and/or indemnification agreements and/or applicable state law. Product Warranty Liabilities In connection with our normal sales of equipment, including those under sales-type leases, we generally do not issue product warranties. Our arrangements typically involve a separate full service maintenance agreement with the customer. The agreements generally extend over a period equivalent to the lease term or the expected useful life of the equipment under a cash sale. The service agreements involve the payment of fees in return for our performance of repairs and maintenance. As a consequence, we do not have any significant product warranty obligations, including any obligations under customer satisfaction programs. In a few circumstances, particularly in certain cash sales, we may issue a limited product warranty if negotiated by the customer. We also issue warranties for certain of our entry level products, where full service maintenance agreements are not available. In these instances, we record warranty obligations at the time of the sale. Aggregate product warranty liability expenses for the three years ended December 31, 2021, 2020 and 2019 were $8, $8 and $12, respectively. Total product warranty liabilities as of December 31, 2021 and 2020 were $6 and $6, respectively. Guarantees We have issued or provided approximately $292 of guarantees as of December 31, 2021 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 tax and labor contingencies (see Brazil Contingencies ); iii) support our obligations related to our U.K. pension plans; and iv) 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, or one of our direct or indirect subsidiaries whose obligations we have guaranteed, 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.

Preferred Stock

Preferred Stock	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Preferred Stock	Preferred Stock Series A Convertible Perpetual Voting Preferred Stock As of December 31, 2021, Xerox Holdings Corporation had one class of preferred stock outstanding. Xerox Holdings Corporation has issued 180,000 shares of Series A Preferred Stock that have an aggregate liquidation value of $180 and a carrying value of $214. The Series A Preferred Stock pays quarterly cash dividends at a rate of 8% per year ($14 per year), on a cumulative basis. Each share of Series A Preferred Stock is convertible at any time, at the option of the holder, into 37.4532 shares of common stock of Xerox Holdings Corporation for a total of 6,742 thousand shares (reflecting an initial conversion price of approximately $26.70 per share of common stock), subject to customary anti-dilution adjustments. If the closing price of Xerox Holdings Corporation common stock exceeds $39.00 or 146.1% of the initial conversion price of $26.70 per share of common stock for 20 out of 30 consecutive trading days, Xerox Holdings Corporation will have the right to cause any or all of the Series A Preferred Stock to be converted into shares of common stock at the then applicable conversion rate. The Series A Preferred Stock is also convertible, at the option of the holder, upon a change in control, at the applicable conversion rate plus an additional number of shares determined by reference to the price paid for our common stock upon such change in control. In addition, upon the occurrence of certain fundamental change events, including a change in control or the delisting of Xerox Holdings Corporation's common stock, the holder of the Series A Preferred Stock has the right to require Xerox Holdings Corporation to redeem any or all of the preferred stock in cash at a redemption price per share equal to the liquidation preference and any accrued and unpaid dividends up to, but not including, the redemption date. The Series A Preferred Stock is classified as temporary equity (i.e., apart from permanent equity) as a result of the contingent redemption feature. Series A Preferred Stock Voting Rights The Xerox Holdings Corporation Series A Preferred Stock votes together with the Xerox Holdings Corporation common stock, as a single class, on all matters submitted to the shareholders of Xerox Holdings Corporation, but the Xerox Holdings Corporation Series A Voting Preferred Stock is only entitled to one vote for every ten shares of Xerox Holdings Corporation common stock into which the Xerox Holdings Corporation Series A Preferred Stock is convertible (674,157 votes at December 31, 2021).

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Xerox Holdings Preferred Stock Xerox Holdings Corporation is authorized to issue approximately 22 million shares of cumulative Preferred stock, $1.00 par value per share. Refer to Note 22 - Preferred Stock for additional information. Common Stock Xerox Holdings Corporation is authorized to issue 437.5 million shares of Common stock, $1.00 par value per share. At December 31, 2021, 25 million shares were reserved for issuance under our incentive compensation plans and 7 million shares were reserved for conversion of the Series A Convertible Perpetual Preferred Voting Stock. Treasury Stock Xerox Holdings Corporation accounts for the repurchased Common stock under the cost method and includes such Treasury stock as a component of our Common shareholders' equity. Retirement of Treasury stock is recorded as a reduction of Common stock and Additional paid-in capital at the time such retirement is approved by our Board of Directors. In October 2021, the Xerox Holdings Corporation's Board of Directors authorized a $500 share repurchase program (exclusive of commissions and fees). This program replaced the approximate $450 thousand of authority remaining under Xerox Holdings Corporation's previously authorized $1.1 billion share repurchase program. The following provides cumulative information relating to Xerox Holdings Corporation's current share repurchase program from its inception in October 2021 through December 31, 2021 (shares in thousands): Authorized share repurchase program $ 500 Share repurchase cost $ 387 Share repurchase fees $ 1 Number of shares repurchased 19,401 Of the $500 of share repurchase granted in October 2021 by Xerox Holdings Corporation's Board of Directors, approximately $113 of that authority remained available at December 31, 2021. The following table reflects the changes in Common and Treasury stock shares (shares in thousands). The Treasury stock repurchases in the table below include the repurchases under both the prior Xerox Corporation authorized share repurchase program and the current Xerox Holdings Corporation authorized share repurchase program. Common Stock Shares Treasury Stock Shares Balance at December 31, 2018 231,690 2,067 Stock based compensation plans, net 1,310 — Acquisition of Treasury stock — 18,343 Cancellation of Treasury stock (18,379) (18,379) Balance at December 31, 2019 214,621 2,031 Stock based compensation plans, net 1,390 — Acquisition of Treasury stock — 15,594 Cancellation of Treasury stock (17,625) (17,625) Balance at December 31, 2020 198,386 — Stock based compensation plans, net 1,206 — Acquisition of Treasury stock — 40,198 Cancellation of Treasury stock (31,523) (31,523) Balance at December 31, 2021 168,069 8,675 Xerox At December 31, 2021, Xerox Corporation has 1,000 authorized shares of Common stock, $1.00 par value per share, of which 100 shares are issued and outstanding and held by Xerox Holdings Corporation.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2021
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 share units (PSUs) 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 Xerox Holdings Corporation's common stock. At December 31, 2021 and 2020, 8 million and 11 million shares, respectively, were available for grant of awards. Stock-based compensation expense was as follows: Year Ended December 31, 2021 2020 2019 Stock-based compensation expense, pre-tax $ 54 $ 42 $ 50 Income tax benefit recognized in earnings 13 11 13 In 2019, the timing of our annual grant of awards was changed from April to January to more closely align the grant date with the underlying performance period related to PSUs. Stock options were last awarded under the 2018 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. Beginning with the 2018 grant, RSU's 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. Prior to the 2018 grant, RSUs vested on a three-year cliff basis from the date of grant. Beginning with the 2021 grant, RSUs vest on a graded schedule as follows: 33% after one year of service, 33% after two years of service and 34% after three Performance Share Units PSU awards granted in 2021, 2020 and 2019 were comprised of a performance-based component that included a Revenue and Free Cash Flow metric and a market-based component that included an Absolute Share Price metric. The metrics are weighted as follows: 25% Revenue, 25% Free Cash Flow and 50% Absolute Share Price. Accordingly, each PSU grant was one-half performance-based (Revenue and Free Cash Flow) and one-half market-based (Absolute Share Price). The measures are independent of each other and depending on the achievement of these metrics, a recipient of a PSU award is entitled to receive a number of shares equal to a percentage, ranging from 0% to 200% of the PSU award granted. PSUs have a three-year cliff vesting from the date of grant. In November 2020, the Xerox Holdings Corporation Board approved grants of RSUs to employees who had received grants of PSUs in 2019 and/or 2020 that included performance and market metrics that have been permanently adversely impacted by the COVID-19 pandemic. These grants of RSUs were made in December 2020. The grant-date value of the new RSUs for each recipient was approximately 50% of the grant-date value of the recipient’s 2020 and/or 2019 PSUs. These RSU grants were not intended to take the place of the Company’s 2021 regular annual equity incentive programs. Performance-Based Component: PSUs vest contingent upon meeting pre-determined cumulative performance metrics. The fair value of our PSUs 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 and based on meeting the performance metrics. 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 over-achievement of 100% of the original grant. If the stated targets are not met, any recognized compensation cost would be reversed. Market-Based Component: The Absolute Share Price metric, included as the market-based component of the 2021, 2020 and 2019 PSU grant, is based on Xerox Holdings Corporation's average closing price for the last 20 trading days of the three-year performance period, inclusive of dividends during that period. Payout for this portion of the PSU will be determined based on total return targets. Since the Absolute Share Price metric of the PSU award represents a market condition, a Monte Carlo simulation was used to determine the grant-date fair value. The TSR metric included as the market-based component of the 2018 PSU grant was based on the percentage change in Xerox Corporation stock price plus dividends paid over the three-year measurement period. Payout for this portion of the PSU was to be determined based on Xerox Corporation percentage change compared to the shareholder returns of the peer group of companies approved by the compensation committee of the Board (as disclosed in the 2018 annual proxy statement). Since the TSR metric of the PSU award represented a market condition, a Monte Carlo simulation was used to determine the grant-date fair value. A summary of Xerox Holdings key valuation input assumptions used in the Monte Carlo simulation relative to awards granted were as follows: 2021 Award 2020 Award 2019 Award 2018 Award Term 3 years 3 years 3 years 3 years Risk-free interest rate (1) 0.20 % 1.60 % 2.51 % 2.39 % Dividend yield (2) 4.66 % 2.80 % 3.97 % 3.24 % Volatility (3) 44.76 % 29.49 % 32.95 % 29.12 % Weighted average fair value (4) $ 25.80 $ 41.28 $ 16.27 $ 32.01 ____________ (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 our three-month average stock price as of the valuation date, annualized and continuously compounded. (3) Volatility is derived from historical stock prices as well as implied volatility when appropriate and available. (4) The weighted average of fair values used to record compensation expense as determined by the Monte Carlo simulation. Our Absolute Share Price metric is compared against total return targets to determine the payout as follows: Payout as a Percent of Target 2021 Total Return Targets (1) 2020 Total Return Targets (1) 2019 Total Return Targets (1) 200% $33.00 and above $45.00 and above $40.00 and above 100% $ 30.00 $ 40.00 $ 35.00 50% $ 27.00 $ 37.00 $ 30.00 0% Below $27.00 Below $37.00 Below $30.00 Our 2018 TSR metric compared to the peer group TSR will determine the payout as follows: Payout as a Percent of Target Percentile (1) 200% 80th and above 100% 50th 35% 25th 0% Below 25th ____________ (1) For performance between the levels described above, the degree of vesting is interpolated on a linear basis. Compensation expense for the market-based component of the PSU awards 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. There was no impact to compensation expense as a result of the Xerox Corporation Board’s approval to modify the 2018 TSR metric to a one-year performance period (2018) and a two-year time-based requirement (2019 and 2020). Stock Options The Xerox Corporation Board approved the granting of SOs as part of the 2018 plan design. Compensation expense associated with SOs is based upon the grant date fair value determined by utilizing the Black-Scholes (BS) option - pricing model and is recognized on a straight-line basis over the vesting period, based on management's estimate of the number of SOs expected to vest. The 2018 SOs have a contractual term of 10 years from the date of grant and vest 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. Xerox Holdings weighted average assumptions used in the BS option-pricing model relative to SO awards were as follows: 2018 Award Expected term (1) 6.13 years Expected volatility (2) 27.25 % Expected dividend yield (3) 3.25 % Risk-free interest rate (4) 2.63 % Weighted average fair value (5) $5.71 ____________ (1) Since these SO grants were effectively part of a new program, the expected term was calculated using the "Simplified Method” under the SEC guidance based on the SOs vesting schedule and contractual term. We did not have sufficient historical exercise data to provide a reasonable basis to estimate an expected term. (2) The expected volatility was calculated based on a combination of term-matched historical volatility and implied volatility from traded options. (3) The dividend yield was calculated as the expected quarterly dividend divided by our three-month average stock price as of the grant date. (4) The risk-free interest rate was based on the zero-coupon U.S. Treasury yield curve with a maturity matched to the expected term of the SOs. (5) The weighted average of fair values used to record compensation expense as determined by the BS option-pricing model. 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. In addition, RSUs, PSUs and SOs 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. Summary of Stock-based Compensation Activity 2021 2020 2019 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value (1) Shares Weighted Average Grant Date Fair Value (1) Restricted Stock Units (2) Outstanding at January 1 3,187 $ 26.48 2,845 $ 26.87 3,559 $ 29.51 Granted 1,513 23.37 2,028 27.85 1,366 23.22 Vested (1,327) 26.07 (1,473) 28.85 (1,666) 29.28 Forfeited (212) 25.06 (213) 28.39 (414) 27.85 Outstanding at December 31 3,161 25.26 3,187 26.48 2,845 26.87 Performance Shares Outstanding at January 1 2,425 $ 26.67 2,830 $ 24.99 2,462 $ 29.83 Granted (3) 1,195 24.67 901 37.59 1,433 19.46 Vested (672) 28.08 (993) 31.94 (633) 29.56 Forfeited/Expired (130) 26.92 (313) 26.22 (432) 27.50 Outstanding at December 31 2,818 25.47 2,425 26.67 2,830 24.99 Stock Options Outstanding at January 1 799 $ 27.81 861 $ 27.83 1,022 $ 27.84 Granted — — — — — — Forfeited/Expired (187) 27.97 (60) 27.98 (92) 27.92 Exercised — — (2) 27.98 (69) 27.98 Outstanding at December 31 612 27.77 799 27.81 861 27.83 Exercisable at December 31 612 27.77 470 27.84 233 27.83 ____________ (1) Weighted average exercise price for stock options. (2) Includes a 2018 Restricted Stock Award (RSA) grant of 351 shares with a corresponding grant date fair value of $28.51, which vested in 2019. (3) Includes 60 shares associated with the over-performance of our 2018 PSU grant. Unrecognized compensation cost related to non-vested stock-based awards at December 31, 2021 was as follows: Awards Unrecognized Compensation Remaining Weighted-Average Vesting Period (Years) Restricted Stock Units $ 40 1.47 Performance Shares 13 1.7 Total $ 53 The aggregate intrinsic value of outstanding stock-based awards was as follows: Awards December 31, 2021 Restricted Stock Units $ 72 Performance Shares 64 Stock Options (1) — ____________ (1) Strike price greater than Xerox Holdings Corporation Stock price at December 31, 2021, therefore, intrinsic value is considered to be $0. The intrinsic value and actual tax benefit realized for all vested and exercised stock-based awards was as follows: December 31, 2021 December 31, 2020 December 31, 2019 Awards Total Intrinsic Value Cash Received Tax Benefit Total Intrinsic Value Cash Received Tax Benefit Total Intrinsic Value (1) Cash Received Tax Benefit Restricted Stock Units $ 30 $ — $ 5 $ 33 $ — $ 5 $ 55 $ — $ 11 Performance Share Units 17 — 2 18 — 4 23 — 6 Stock Options — — — — — — 1 2 — ____________

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) In 2019, as a result of the sale of our investment in Fuji Xerox, we reclassified out of Accumulated other comprehensive loss and into earnings $165 of accumulated translation adjustments and defined benefit plan losses related to Fuji Xerox. The reclassified amounts are included in the gain recognized on the Sales. Refer to Note 6 - Divestitures for additional information regarding these Sales and the associated gain recognized. Other Comprehensive Income (Loss) is comprised of the following: Year Ended December 31, 2021 2020 2019 Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Translation Adjustments (Losses) Gains Aggregates adjustment in period $ (145) $ (141) $ 238 $ 241 $ 53 $ 45 Divestiture - reclassification — — — — 17 17 Net Translation Adjustments (Losses) Gains (145) (141) 238 241 70 62 Unrealized Gains (Losses) Changes in fair value of cash flow hedges (losses) gains (12) (9) 4 3 2 1 Changes in cash flow hedges reclassed to earnings (1) 7 5 1 1 (9) (7) Net Unrealized (Losses) Gains (5) (4) 5 4 (7) (6) Defined Benefit Plans Gains (Losses) Net actuarial/prior service gains (losses) 537 409 117 86 (275) (202) Prior service amortization/curtailment (2) (72) (54) (80) (60) (81) (61) Actuarial loss amortization/settlement (2) 132 99 138 104 156 118 Fuji Xerox changes in defined benefit plans, net (3) — — — — 8 8 Other (losses) gains (4) 35 35 (63) (61) (21) (21) Divestiture - reclassification — — — — 148 148 Changes in Defined Benefit Plans Gains (Losses) 632 489 112 69 (65) (10) Other Comprehensive Income (Loss) Attributable to Xerox Holdings/Xerox $ 482 $ 344 $ 355 $ 314 $ (2) $ 46 _____________ (1) Reclassified to Cost of sales - refer to Note 17 - Financial Instruments for additional information regarding our cash flow hedges. (2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 19 - 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: December 31, 2021 2020 2019 Cumulative translation adjustments $ (1,861) $ (1,720) $ (1,961) Other unrealized (losses) gains, net (2) 2 (2) Benefit plans net actuarial losses and prior service credits (1,125) (1,614) (1,683) Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox $ (2,988) $ (3,332) $ (3,646) We utilize the aggregate portfolio approach for releasing disproportionate income tax effects from AOCL.

(Loss) Earnings per Share

(Loss) Earnings per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
(Loss) Earnings per Share	(Loss) Earnings per Share The following table sets forth the computation of basic and diluted earnings per share of Xerox Holdings Corporation's Common stock (shares in thousands): Year Ended December 31, 2021 2020 2019 Basic (Loss) Earnings per Share: Net (Loss) Income from continuing operations attributable to Xerox Holdings $ (455) $ 192 $ 648 Accrued dividends on preferred stock (14) (14) (14) Adjusted Net (Loss) income from continuing operations available to common shareholders (469) 178 634 Income from discontinued operations attributable to Xerox Holdings, net of tax — — 705 Adjusted Net (Loss) income available to common shareholders $ (469) $ 178 $ 1,339 Weighted average common shares outstanding 183,168 208,983 221,969 Basic (Loss) Earnings per Share: Continuing operations $ (2.56) $ 0.85 $ 2.86 Discontinued operations — — 3.17 Basic (Loss) Earnings per Share $ (2.56) $ 0.85 $ 6.03 Diluted (Loss) Earnings per Share: Net (Loss) Income from continuing operations attributable to Xerox Holdings $ (455) $ 192 $ 648 Accrued dividends on preferred stock (14) (14) — Adjusted Net (Loss) income from continuing operations available to common shareholders (469) 178 648 Income from discontinued operations attributable to Xerox Holdings, net of tax — — 705 Adjusted Net (Loss) income available to common shareholders $ (469) $ 178 $ 1,353 Weighted average common shares outstanding 183,168 208,983 221,969 Common shares issuable with respect to: Stock options — 15 55 Restricted stock and performance shares — 2,439 4,403 Convertible preferred stock — — 6,742 Adjusted Weighted average common shares outstanding 183,168 211,437 233,169 Diluted (Loss) Earnings per Share: Continuing operations $ (2.56) $ 0.84 $ 2.78 Discontinued operations — — 3.02 Diluted (Loss) Earnings per Share $ (2.56) $ 0.84 $ 5.80 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 (shares in thousands): Stock options 612 784 805 Restricted stock and performance shares 5,979 3,173 1,272 Convertible preferred stock 6,742 6,742 — Total Anti-Dilutive Securities 13,333 10,699 2,077 Dividends per Common Share $ 1.00 $ 1.00 $ 1.00

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Secured Borrowings In January 2022, we entered into a secured loan agreement with financial institutions where we sold $789 of U.S. based finance receivables to an SPE. The purchase by the SPE was funded through a $668 amortizing secured loan to the SPE from the financial institutions. The SPE is fully consolidated in our financial statements. The secured loan was an amendment of the December 2020 secured borrowing, which had a remaining balance of $248, and we received the incremental net cash. The transaction was accounted for as an extinguishment of debt and the issuance of new debt and associated collateral. The new loan has a variable interest rate based on the financial institutions' cost of funds plus a spread (initial rate of 1.40%) and an expected life of approximately 2.5 years, with half of the loan projected to be repaid within the first year based on collections of the underlying portfolio of receivables. Acquisition of Powerland In February 2022, Xerox acquired Powerland, a leading IT services provider in Canada for approximately $60 (CAD 76 million), which includes certain holdbacks and payment of assumed tax liabilities. The acquisition also includes contingent consideration up to approximately $22 (CAD 28 million) based on future performance of the acquisition over the next two years. The acquisition strengthens Xerox’s IT services offerings in North America, which include cloud, cyber security, end user computing and managed services. We are currently assessing the purchase price allocation but expect the majority to be allocated to Intangible assets and Goodwill.

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	Xerox Holdings Corporation Schedule II Valuation and Qualifying Accounts Receivables - Allowance for doubtful accounts: (in millions) Balance Additions charged to bad debt provision (1) Amounts charged to other income statement accounts (1) Deductions and other, net of recoveries (2) Balance Year Ended December 31, 2021 Accounts Receivable $ 69 $ 8 $ 1 $ (20) $ 58 Finance Receivables 133 (1) 4 (18) 118 $ 202 $ 7 $ 5 $ (38) $ 176 Year Ended December 31, 2020 Accounts Receivable $ 55 $ 35 $ — $ (21) $ 69 Finance Receivables 89 81 — (37) 133 $ 144 $ 116 $ — $ (58) $ 202 Year Ended December 31, 2019 Accounts Receivable $ 56 $ 18 $ — $ (19) $ 55 Finance Receivables 92 28 3 (34) 89 $ 148 $ 46 $ 3 $ (53) $ 144 _____________ (1) Bad debt provisions relate to estimated losses due to credit and similar collectibility issues. Other charges (credits) relate to adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (2) Deductions and other, net of recoveries primarily relates to receivable write-offs, but also includes the impact of foreign currency translation adjustments and recoveries of previously written off receivables. Deferred Tax Asset Valuation Allowances: (in millions) Balance at beginning of period Additions charged to income tax (benefit) expense Amounts credited to other accounts (1) Balance Year Ended December 31, 2021 $ 396 (9) (30) $ 357 Year Ended December 31, 2020 $ 399 25 (28) $ 396 Year Ended December 31, 2019 $ 397 16 (14) $ 399 _____________ (1) Reflects other decreases to our valuation allowance, including the effects of currency. These did not affect Income tax (benefit) expense in total as there was a corresponding adjustment to Deferred tax assets or Other comprehensive (loss) income. Xerox Corporation Schedule II Valuation and Qualifying Accounts Receivables - Allowance for doubtful accounts: (in millions) Balance Additions charged to bad debt provision (1) Amounts charged to other income statement accounts (1) Deductions and other, net of recoveries (2) Balance Year Ended December 31, 2021 Accounts Receivable $ 69 $ 8 $ 1 $ (20) $ 58 Finance Receivables 133 (1) 4 (18) 118 $ 202 $ 7 $ 5 $ (38) $ 176 Year Ended December 31, 2020 Accounts Receivable $ 55 $ 35 $ — $ (21) $ 69 Finance Receivables 89 81 — (37) 133 $ 144 $ 116 $ — $ (58) $ 202 Year Ended December 31, 2019 Accounts Receivable $ 56 $ 18 $ — $ (19) $ 55 Finance Receivables 92 28 3 (34) 89 $ 148 $ 46 $ 3 $ (53) $ 144 _____________ (1) Bad debt provisions relate to estimated losses due to credit and similar collectibility issues. Other charges (credits) relate to adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (2) Deductions and other, net of recoveries primarily relates to receivable write-offs, but also includes the impact of foreign currency translation adjustments and recoveries of previously written off receivables. Deferred Tax Asset Valuation Allowances: (in millions) Balance at beginning of period Additions charged to income tax (benefit) expense Amounts credited to other accounts (1) Balance Year Ended December 31, 2021 $ 396 (9) (30) $ 357 Year Ended December 31, 2020 $ 399 25 (28) $ 396 Year Ended December 31, 2019 $ 397 16 (14) $ 399 _____________ (1) Reflects other decreases increases to our valuation allowance, including the effects of currency. These did not affect Income tax (benefit) expense in total as there was a corresponding adjustment to Deferred tax assets or Other comprehensive (loss) income.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation All significant intercompany accounts and transactions have been eliminated. Investments in business entities in which we do not have control, but we have the ability to exercise significant influence over operating and financial policies (generally 20% to 50% ownership) are accounted for using the equity method of accounting. Operating results of acquired businesses are included in the Consolidated Statements of (Loss) Income from the date of acquisition. We consolidate variable interest entities if we are deemed to be the primary beneficiary of the entity. Operating results for variable interest entities in which we are determined to be the primary beneficiary are included in the Consolidated Statements of (Loss) Income from the date such determination is made. For convenience and ease of reference, we refer to the financial statement caption “Income before Income Taxes and Equity Income” as “pre-tax (loss) income” throughout the Notes to the Consolidated Financial Statements. Transfer of CareAR Holdings LLC to Xerox
Discontinued Operations	Discontinued Operations In November 2019, Xerox Holdings completed a series of transactions to restructure its relationship with FUJIFILM Holdings Corporation (FH), including the sale of its indirect 25% equity interest in Fuji Xerox (now known as FUJIFILM Business Innovation Corp.) as well as the sale of its indirect 51% partnership interest in Xerox
Use of Estimates	Use of Estimates
Changes in Estimates - Methodology	In the ordinary course of accounting for the items discussed above, we make changes in estimates as appropriate and as we become aware of new or revised circumstances surrounding those estimates. Such changes and refinements in estimation methodologies are reflected in reported results of operations in the period in which the changes are made and, if material, their effects are disclosed in the Notes to the Consolidated Financial Statements and in Management's Discussion and Analysis of Financial Condition and Results of Operations. As of December 31, 2021, the impact of the COVID-19 pandemic continues to have varying and divergent impacts across various regions and countries in which we operate and a degree of economic uncertainty still remains. We expect the pandemic's effects will likely continue to impact our financial results into at least the first half of 2022. Accordingly, many of our estimates and assumptions continue to require a greater degree of judgment and may change in the future as events continue to evolve and additional information becomes available.
New Accounting Standards and Accounting Changes	New Accounting Standards and Accounting Changes Except for the Accounting Standard Updates (ASUs) discussed below, the new ASUs issued by the FASB during the last two years did not have any significant impact on the Company. Accounting Standard Updates to be Adopted: Government Assistance In November 2021, the FASB issued ASU 2021-10 , Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance. The update increases the transparency surrounding government assistance by requiring disclosure of 1) the types of assistance received, 2) an entity’s accounting for the assistance, and 3) the effect of the assistance on the entity’s financial statements. We expect to adopt this update effective for our fiscal year beginning January 1, 2022. We are currently evaluating the impact of the adoption of this update on our Consolidated Financial Statements, which will largely depend on the amounts of government assistance expected to be received in the future. However, prior to the COVID pandemic, the amounts of government assistance the Company received were not material and since the update is limited to increased disclosures, we do not expect the adoption to have a material impact on our financial condition, results of operations, and cash flows. Business Combinations In October 2021, the FASB issued ASU 2021-08 , Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. The new guidance requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC Topic 606, Revenue from Contracts with Customers , as if the acquirer had originated the contracts. This approach differs from the current requirement to measure contract assets and contract liabilities acquired in a business combination at fair value. This update is effective for our fiscal year beginning January 1, 2023, with early adoption permitted. The impact of adopting the new standard will depend on the magnitude of future acquisitions. The standard will not impact contract assets or liabilities acquired in business combinations that occurred prior to the adoption date. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04 , Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (LIBOR) or by another reference rate expected to be discontinued. In January 2021, the FASB issued ASU 2021-01 , Reference Rate Reform (Topic 848), Scope, which provided clarification to ASU 2020-04. These ASUs were effective commencing with our quarter ended March 31, 2020 and will continue through December 31, 2022. There has been no impact to date as a result of adopting ASU 2020-04 or ASU 2021-01 and subsequent amendments on reference rate reform. However, we continue to evaluate potential future impacts that may result from the discontinuation of LIBOR or other reference rates as well as the accounting provided in this update on our financial condition, results of operations, and cash flows. Accounting Standard Updates Recently Adopted: Debt In August 2020, the FASB issued ASU 2020-06 , Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). This update simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. This update also amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions and requires the application of the if-converted method for calculating diluted earnings per share. We adopted this update effective for our fiscal year beginning January 1, 2022. The adoption of this standard did not have a material impact on our Consolidated Financial Statements and related disclosures. Income Taxes In December 2019, the FASB issued ASU 2019-12 , Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which was intended to simplify various aspects related to accounting for income taxes . ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. We adopted this update effective for our fiscal year beginning January 1, 2021. The adoption did not have a material impact on our results of operations, financial position, cash flows or disclosures. Leases In April 2020, the FASB staff issued a question and answer (Q&A) document on the application of lease accounting guidance related to lease concessions provided as a result of the economic disruption caused by the COVID-19 pandemic (Topic 842 Q&A). Topic 842 Q&A provides interpretive guidance allowing companies the option to account for lease concessions related to the COVID-19 pandemic consistent with how those concessions would be accounted for under ASU 2016-02, Leases (Topic 842), discussed below, as though enforceable rights and obligations for those concessions existed at the beginning of the contract (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract). This interpretive guidance was issued in order to reduce the costs and complexities of applying lease modification accounting under Topic 842 to leases impacted by the effects of the COVID-19 pandemic. This election is available for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee. We have elected to apply the interpretive guidance provided in Topic 842 Q&A to rent concessions related to the COVID-19 pandemic provided as a Lessor to our customers and as received as a Lessee. Through September 30, 2020 we provided rent deferrals as a Lessor that were primarily offered to customers with sales type lease receivables. This special program was discontinued in the fourth quarter of 2020. We elected to account for the deferrals in the timing of lease payments as if there were no changes in the lease contracts. Under this approach, assuming that collectibility of future lease payments is still probable, the classification of the leases was not updated and we retained the balance of the deferral as a receivable and will settle that receivable at the revised payment date or dates. Through September 30, 2020, we approved payment deferrals of up to 3 months for approximately $33 or approximately 1% of our total finance receivable portfolio. Rent abatements to the extent provided were not material and were accounted for as write-offs as part of our normal bad debt reserve assessment. With respect to rent deferrals and abatements received as a Lessee, we elected to account for the deferrals and abatements as a resolution of a contingency within the lease. Under this approach, we follow the resolution of a contingency model in ASC 842 without reclassifying the lease or updating the discount rate. We remeasure the remaining consideration in the contract, reallocate it to the lease and non-lease components as applicable, and remeasure the lease liability with an adjustment to the right-of-use asset for the same amount. If the total lease payments remain exactly the same, the lease cost remains unchanged. The impact of this election was not material to our financial condition, results of operations or cash flows, as rent concessions provided to Xerox in 2021 or 2020 were not material, individually or in the aggregate. 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 such 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 in order 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 instead 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 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. Refer to Note 11 - Lessee for additional information related to our lessee accounting. Lessor accounting - the adoption of this update resulted in an increase to equipment sales by approximately $30 in 2019 as compared to 2018. Refer to Note 4 - Lessor for additional information related to our lessor accounting. Financial Instruments - Credit Losses On January 1, 2020, we adopted ASU 2016-13 , Financial Instruments Credit Losses - Measurement of Credit Losses on Financial Instruments. This update was issued by the FASB in June 2016, with additional updates and amendments being issued in 2018, 2019 and 2020 and requires measurement and recognition of expected credit losses for financial assets on an expected loss model rather than an incurred loss model. The update impacted financial assets including net investment in leases that are not accounted for at fair value through Net Income. The adoption of ASU 2016-13 primarily impacted the estimation of our Allowance for doubtful accounts for Accounts Receivable and Finance Receivables. The impact recorded on our initial adoption of ASU 2016-13 was not material as our previous methodology for assessing the adequacy of our Allowance for doubtful accounts for Finance Receivables, the larger component of our receivable reserves, incorporated an expected loss model and the methodology for both allowances included an assessment of current economic conditions. However, as previously disclosed, the future impact from this update is highly dependent on future economic conditions. Refer to Note 7 - Accounts Receivable, Net and Note 8 - Finance Receivables, Net for additional discussion regarding the impacts from the adoption of this update during the first quarter 2020. Intangibles - Internal-Use Software On January 1, 2020, we adopted 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 was issued by the FASB in August 2018 and 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. The adoption of ASU 2018-15 did not have a material impact on our financial condition, results of operations or cash flows as we had previously capitalized these implementation costs and such amounts were not material. Other Updates The FASB also issued the following Accounting Standards Updates, which have not had, and are not expected to have, a material impact on our financial condition, results of operations or cash flows upon adoption. • Equity Instruments: ASU 2021-04 , Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options). This update is effective for our fiscal year beginning January 1, 2022. • Leases: ASU 2021-05 , Leases - Certain Lease Payments with Variable Lease Payments (ASC 842). This update is effective for our fiscal year beginning January 1, 2022. • Investments: ASU 2020-01 , Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) . This update was effective for our fiscal year beginning January 1, 2021. • Compensation - Stock Compensation and Revenue from Contracts with Customers: ASU 2019-08 , (Topic 718) and (Topic 606) Codification Improvements - Share-Based Consideration Payable to a Customer. This update was effective for our fiscal year beginning January 1, 2020.
Revenue Recognition	Revenue Recognition We generate revenue through the sale of equipment and supplies and by providing maintenance and printing services. Revenue is measured based on the consideration specified in a contract with a customer and is recognized when we satisfy a performance obligation by transferring control of a product to a customer or in the period the customer benefits from the service. With the exception of our sales-type lease arrangements, our invoices to the customer, which normally have short-term payment terms, are typically aligned to the transfer of goods or as services are rendered to our customers and therefore in most cases we recognize revenue based on our right to invoice customers. As a result of the application of this practical expedient for the substantial portion of our revenue, the disclosure of the value of unsatisfied performance obligations for our services is not required. Significant judgments primarily include the identification of performance obligations in our Document management services arrangements as well the pattern of delivery for those services. More specifically, revenue related to our products and services is generally recognized as follows: Equipment: Revenues from the sale of equipment directly to end-user customers, including those from sales-type leases (see below), are recognized when obligations under the terms of a contract with our customer are satisfied and control has been transferred to the customer. For equipment placements that require us to install the product at the customer location, revenue is normally recognized when the equipment has been delivered and installed at the customer location. Sales of customer installable products are recognized upon shipment or receipt by the customer according to the customer's shipping terms. Revenue from the equipment performance obligation also includes certain analyst training services performed in connection with the installation or delivery of the equipment . Maintenance services: We provide maintenance agreements on our equipment that include service and supplies for which the customer may pay a base minimum plus a price-per-page charge for usage. In arrangements that include minimums, those minimums are normally set below the customer’s estimated page volumes and are not considered substantive. These agreements are sold as part of a bundled lease arrangement or through distributors and resellers. We normally account for these maintenance agreements as a single performance obligation for printing services being delivered in a series with delivery being measured by usage as billed to the customer. Accordingly, revenue on these types of agreements is normally recognized as billed to the customer over the term of the agreements based on page volumes. A substantial portion of our products are sold with full service maintenance agreements, accordingly, other than the product warranty obligations associated with certain of our entry level products, we do not have any significant warranty obligations, including any obligations under customer satisfaction programs. Document management services: Revenues associated with our document management services are generally recognized as printing services are rendered, which is generally on the basis of the number of images produced. Revenues on unit-price contracts are recognized at the contractual selling prices as work is completed by the customer. We account for these arrangements as a single performance obligation for printing services being delivered in a series with delivery being measured by usage as billed to the customer . Our services contracts may also include the sale or lease of equipment and software. In these instances, we follow the policies noted for Equipment or Software Revenues and separately report the revenue associated with these performance obligations. Certain document management services arrangements may also include an embedded lease of equipment. In these instances, the revenues associated with the lease are recognized in accordance with the requirements for lease accounting. Sales to distributors and resellers: We utilize distributors and resellers to sell our equipment, supplies and maintenance services to end-user customers. We refer to our distributor and reseller network as our two-tier distribution model. Revenues on sales to distributors and resellers are generally recognized when products are shipped to such distributors and resellers. However, revenue is only recognized when the distributor or reseller has economic substance apart from the Company such that collectability is probable and we have no further obligations related to bringing about the resale, delivery or installation of the product that would impact transfer of control. Revenues associated with maintenance agreements sold through distributors and resellers to end-user customers are recognized in a consistent manner for maintenance services. Revenue that may be subject to a reversal of revenue due to contractual terms or uncertainties is not recorded as revenue until the contractual provisions lapse or the uncertainties are resolved. Distributors and resellers participate in various rebate, price-protection, cooperative marketing and other programs. We estimate the variable consideration associated with these programs and record those amounts as a reduction to revenue when sales occur. Similarly, we account for our estimates of sales returns and other allowances when sales occur based on our historical experience. In certain instances, we may provide lease financing to end-user customers who purchased equipment we sold to distributors or resellers. We are not obligated to provide financing and we compete with other third-party leasing companies with respect to the lease financing provided to these end-user customers. Software: Most of our equipment has both software and non-software components that function together to deliver the equipment's essential functionality and therefore they are accounted for together as part of Equipment sales revenues. Software accessories sold in connection with our Equipment sales, as well as free-standing software sales, are accounted for as separate performance obligations if determined to be material in relation to the overall arrangement. Revenue from software is not a significant component of our Total revenues. Supplies: Supplies revenue is recognized upon transfer of control to the customer, generally upon utilization or shipment to the customer in accordance with the sales contract terms. Other Revenue Recognition Policies Revenue-based Taxes: Revenue-based taxes assessed by governmental authorities that are both imposed on and concurrent with specific revenue-producing transactions, and that are collected by the Company from a customer, are excluded from revenue. The primary revenue-based taxes are sales tax and value-added tax (VAT). Shipping and Handling: Shipping and handling costs are accounted for as a fulfillment cost and are included in Cost of sales in the Consolidated Statements of (Loss) Income.
Financing	Financing: Finance income attributable to sales-type leases, direct financing leases and installment loans is recognized on the accrual basis using the effective interest method.
Leases	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 sales. 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 as well as other methodologies including a margin analysis during the applicable period. With respect to the analysis of cash sales, 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 reflect 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, cost of funds 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 and other analyses as noted above.
Cash and Cash Equivalents	Cash and Cash EquivalentsCash and cash equivalents consist of cash on hand, including money market funds, and investments with original maturities of three months or less.
Allowance for Doubtful Accounts and Credit Losses	Allowance for Doubtful Accounts and Credit Losses The allowance for doubtful accounts and provision for credit losses represents an estimate of the losses expected to be incurred from the Company's trade and finance receivable portfolio. The measurement and recognition of expected credit losses is based on an expected loss model and incorporates an assessment of past collection experience as well as consideration of current and future economic conditions and changes in our customer collection trends. The allowance of finance receivables is determined on a collective basis by year of origination through the application of projected loss rates to our different portfolios by country, which represent our portfolio segments. This is the level at which we develop and document our methodology to determine the allowance for credit losses. These projected loss rates are primarily based upon historical loss experience adjusted for judgments about the probable two
Receivable Sales	Receivable Sales We transfer certain portions of our receivable portfolios to third parties and normally account for those transfers as sales based on meeting the criteria for derecognition in accordance with ASC Topic 860 "Transfer and Servicing" of Financial Assets. Gains or losses on the sale of receivables depend, in part, on both (a) the cash proceeds and (b) the net non-cash proceeds received or paid. When we sell receivables, we normally receive beneficial interests in the transferred receivables from the purchasers as part of the proceeds. We may refer to these beneficial interests as a deferred purchase price. The beneficial interests obtained are initially measured at their fair value. We generally estimate fair value based on the present value of expected future cash flows, which are calculated using management ' s best estimates of the key assumptions including credit losses, prepayment rate and discount rates commensurate with the risks involved. Refer to Note 7 - Accounts Receivable, Net for additional information on our receivable sales .
Inventories	Inventories Inventories are carried at the lower of average cost or net realizable value. Inventories also include equipment that is returned at the end of the lease term. Returned equipment is recorded at the lower of remaining net book value or salvage value, which is normally not significant. We regularly review inventory quantities and record a provision for excess and/or obsolete inventory based primarily on our estimated forecast of product demand, production requirements and servicing commitments. Several factors may influence the realizability of our inventories, including our decision to exit a product line, technological changes and new product development. The provision for excess and/or obsolete raw materials and equipment inventories is based primarily on near-term forecasts of product demand and include consideration of new product introductions, as well as changes in remanufacturing strategies. The provision for excess and/or obsolete service parts inventory is based primarily on projected servicing requirements over the life of the related equipment populations. Refer to Note 9 - Inventories and Equipment on Operating Leases, Net for further discussion.
Land, Buildings and Equipment on Operating Leases	Land, Buildings and Equipment on Operating LeasesLand, buildings and equipment are recorded at cost. Buildings and equipment are depreciated over their estimated useful lives. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful life. Equipment on operating leases is depreciated to estimated salvage value over the lease term. Depreciation is computed using the straight-line method. Significant improvements are capitalized and maintenance and repairs are expensed. Refer to Note 9 - Inventories and Equipment on Operating Leases, Net and Note 10 - Land, Buildings, Equipment and Software, Net for further discussion.
Leased Assets/Lessee	Leased Assets 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 leases 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 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 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 almost all 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 potential 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.
Software - Internal Use and Product	Software - Internal Use and Product We capitalize direct costs associated with developing, purchasing or otherwise acquiring software for internal use and amortize these costs on a straight-line basis over the expected useful life of the software, beginning when the software is implemented (Internal Use Software). Costs incurred for upgrades and enhancements that will not result in additional functionality are expensed as incurred. Amounts expended for Internal Use Software are included in Cash Flows from Investing activities. We also capitalize certain costs related to the development of software solutions to be sold to our customers upon reaching technological feasibility (Product Software). These costs are amortized on a straight-line basis over the estimated economic life of the software. Amounts expended for Product Software are included in Cash Flows from Operations. We perform periodic reviews to ensure that unamortized Product Software costs remain recoverable from estimated future operating profits (net realizable value or NRV). Costs to support or service licensed software are charged to Costs of services as incurred. Refer to Note 10 - Land, Buildings, Equipment and Software, Net for further information.
Capitalization of Internal Costs	Software - Internal Use and Product We capitalize direct costs associated with developing, purchasing or otherwise acquiring software for internal use and amortize these costs on a straight-line basis over the expected useful life of the software, beginning when the software is implemented (Internal Use Software). Costs incurred for upgrades and enhancements that will not result in additional functionality are expensed as incurred. Amounts expended for Internal Use Software are included in Cash Flows from Investing activities. We also capitalize certain costs related to the development of software solutions to be sold to our customers upon reaching technological feasibility (Product Software). These costs are amortized on a straight-line basis over the estimated economic life of the software. Amounts expended for Product Software are included in Cash Flows from Operations. We perform periodic reviews to ensure that unamortized Product Software costs remain recoverable from estimated future operating profits (net realizable value or NRV). Costs to support or service licensed software are charged to Costs of services as incurred. Refer to Note 10 - Land, Buildings, Equipment and Software, Net for further information.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price over the fair value of acquired net assets in a business combination, including the amount assigned to identifiable intangible assets. The primary drivers that generate goodwill are the value of synergies between the acquired entities and the company and the acquired assembled workforce, neither of which qualifies as an identifiable intangible asset. Goodwill is not amortized, but rather is tested for impairment annually, or more frequently whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable and an impairment loss may have been incurred. We assess goodwill for impairment at least annually, during the fourth quarter based on balances as of October 1st, and more frequently if indicators of impairment exist or if a decision is made to sell or exit a business. Impairment testing for goodwill is done at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (a component) if the component constitutes a business for which discrete financial information is available, and segment management regularly reviews the operating results of that component. Consistent with the determination that we had one operating segment, we determined that there is one reporting unit and tested goodwill for impairment at the entity level. We perform an assessment of goodwill, utilizing either a qualitative or quantitative impairment test. The qualitative impairment test assesses several factors to determine whether it is more-likely-than-not that the fair value of the entity is less than its carrying amount. If we conclude it is more-likely-than-not that the fair value of the entity is less than its carrying amount, a quantitative fair value test is performed. In certain circumstances, we may also bypass the qualitative test and proceed directly to a quantitative impairment test. In a quantitative impairment test, we assess goodwill by comparing the carrying amount of the entity to its fair value. Fair value of the entity is determined by using a weighted combination of an income approach and a market approach. If the fair value exceeds the carrying value, goodwill is not considered impaired. If the carrying value exceeds the fair value, goodwill is considered impaired and we would recognize an impairment loss for the excess. The COVID-19 pandemic continued to have a significant effect on the Company’s operations impacting revenues, expenses, cash flows and market capitalization in 2021. Although business results improved in the first half of 2021 and the Company was meeting expectations, the emergence of new COVID-19 variants during the year resulted in many of our customers delaying their plans to return employees to workplaces and allowing employees to continue to work remotely and in a hybrid environment. This impact combined with the global supply chain and logistic issues, created in part by the COVID-19 pandemic, had a negative effect on the Company’s results particularly in the third and fourth quarter of 2021. As a result of these impacts and projections of these impacts on our future operating results, as well as a sustained market capitalization below book value, we elected to utilize a quantitative model for the assessment of the recoverability of our Goodwill balance for our annual fourth quarter 2021 impairment test. After completing our annual impairment test, we concluded that the fair value of the Company - our single reporting unit - had declined below its carrying value. As a result, we recognized an after-tax non-cash impairment charge of $750 ($781 pre-tax) related to our goodwill for the year ended December 31, 2021. Other intangible assets primarily consist of assets obtained in connection with business acquisitions, including installed customer base and distribution network relationships, existing technology, trademarks and non-compete agreements. We apply an impairment evaluation whenever events or changes in business circumstances indicate that the carrying value of our intangible assets may not be recoverable. Other intangible assets are amortized on a straight-line basis over their estimated economic lives. We believe that the straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained annually by the Company. Refer to Note 13 - Goodwill and Intangible Assets, Net for further information.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets We review the recoverability of our long-lived assets, including buildings, equipment, right-of-use leased assets, internal use software and other intangible 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 future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. Our primary measure of fair value is based on discounted cash flows. Long-lived assets to be disposed of by sale are reported at the lower of carrying amount or fair value less costs to sell. Long-lived assets to be disposed of other than by sale (e.g., by abandonment, cease-use) would continue to be classified as held and used until the long-lived asset is disposed of (e.g. abandoned or when asset ceases to be used). In 2021, we evaluated the recoverability of our Long-Lived Assets and Other Intangible Assets to be held and used by comparing the carrying amount of those assets to the net undiscounted cash flows expected to be generated by the business unit/component using those assets to determine if the carrying value was not recoverable. The recoverability test/income approach indicated that our Long-Lived assets and Other Intangible Assets were not impaired.
Pension and Post-Retirement Benefit Obligations	Pension and Post-Retirement Benefit Obligations We sponsor various forms of defined benefit pension plans in several countries covering employees who meet eligibility requirements. Retiree health benefit plans cover a portion of our U.S. and Canadian employees for retiree medical costs. We employ a delayed recognition feature in measuring the costs of pension and post-retirement benefit plans. This requires changes in the benefit obligations and changes in the value of assets set aside to meet those obligations to be recognized not as they occur, but systematically and gradually over subsequent periods. All changes are ultimately recognized as components of net periodic benefit cost, except to the extent they may be offset by subsequent changes. At any point, changes that have been identified and quantified but not recognized as components of net periodic benefit cost are recognized in Accumulated other comprehensive loss, net of tax. Several statistical and other factors that attempt to anticipate future events are used in calculating the expense, liability and asset values related to our pension and retiree health benefit plans. These factors include assumptions we make about the applicable discount rate, expected return on plan assets, cash balance interest-crediting rate, rate of increase in healthcare costs, the rate of future compensation increases and mortality. Actual returns on plan assets are not immediately recognized in our income statement due to the delayed recognition requirement. In calculating the expected return on the plan asset component of our net periodic pension cost, we apply our estimate of the long-term rate of return on the plan assets that support our pension obligations, after deducting assets that are specifically allocated to Transitional Retirement Accounts (which are accounted for based on specific plan terms). For purposes of determining the expected return on plan assets, we utilize a market-related value approach in determining the value of the pension plan assets, rather than a fair market value approach. The primary difference between the two methods relates to systematic recognition of changes in fair value over time (generally two years) versus immediate recognition of changes in fair value. Our expected rate of return on plan assets is applied to the market-related asset value to determine the amount of the expected return on plan assets to be used in the determination of the net periodic pension cost. The market-related value approach reduces the volatility in net periodic pension cost that would result from using the fair market value approach. The discount rate is used to present value our future anticipated benefit obligations. The discount rate reflects the current rate at which benefit liabilities could be effectively settled considering the timing of expected payments for plan participants. In estimating our discount rate, we consider rates of return on high-quality fixed-income investments adjusted to eliminate the effects of call provisions, as well as the expected timing of pension and other benefit payments. Each year, the difference between the actual return on plan assets and the expected return on plan assets, as well as increases or decreases in the benefit obligation as a result of changes in the discount rate and other actuarial assumptions, are added to or subtracted from any cumulative actuarial gain or loss from prior years. This amount is the net actuarial gain or loss recognized in Accumulated other comprehensive loss. We amortize net actuarial gains and losses as a component of net pension cost for a year if, as of the beginning of the year, that net gain or loss (excluding asset gains or losses that have not been recognized in market-related value) exceeds 10% of the greater of the projected benefit obligation or the market-related value of plan assets (the corridor method). This determination is made on a plan-by-plan basis. If amortization is required for a particular plan, we amortize the applicable net gain or loss in excess of the 10% threshold on a straight-line basis in net periodic pension cost over the remaining service period of the employees participating in that pension plan. In plans where substantially all participants are inactive, the amortization period for the excess is the average remaining life expectancy of the plan participants. Our primary domestic plans allow participants the option of settling their vested benefits through the receipt of a lump-sum payment. The participant ' s vested benefit is considered fully settled upon payment of the lump sum. We have elected to apply settlement accounting and therefore we recognize the losses associated with settlements in this plan immediately upon the settlement of the vested benefits. Settlement accounting requires us to recognize a pro rata portion of the aggregate unamortized net actuarial losses upon settlement. The pro rata factor is computed as the percentage reduction in the projected benefit obligation due to the settlement of the participant ' s vested benefit. Refer to Note 19 - Employee Benefit Plans for further information regarding our Pension and Post-Retirement Benefit Obligations .
Research, Development and Engineering (RD&E)	Research, Development and Engineering (RD&E)Research, development and engineering costs are expensed as incurred. Sustaining engineering costs are incurred with respect to on-going product improvements or environmental compliance after initial product launch. Sustaining engineering costs were $59, $54 and $62 in for the years ended December 31, 2021, 2020 and 2019, respectively.
Government Grants/Assistance	Government Grants/Assistance Government grants related to income are recognized as a reduction of related expenses in the Consolidated Statements of (Loss) Income when there is a reasonable assurance that the entity will comply with the conditions attached to the grant and that the grants will be received. The timing and pattern of recognition of government
Foreign Currency Translation and Remeasurement	Foreign Currency Translation and Remeasurement The functional currency for most of our foreign operations is the local currency. Net assets are translated at current rates of exchange and income, expense and cash flow items are translated at average exchange rates for the applicable period. The translation adjustments are recorded in Accumulated other comprehensive loss. The U.S. Dollar is used as the functional currency for certain foreign subsidiaries that conduct their business in U.S. Dollars as well as foreign subsidiaries operating in highly inflationary economies. For these subsidiaries, non-monetary foreign currency assets and liabilities are translated using historical rates, while monetary assets and liabilities are translated at current rates, with the U.S. dollar effects of rate changes recorded in Currency (gains) and losses within Other expenses, net together with other foreign currency remeasurements.
Contract assets and liabilities	Contract assets and liabilities:
Lessor	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.
Interest	Equipment financing interest is determined based on an estimated cost of funds, applied against the estimated level of debt required to support our net finance receivables. The estimated cost of funds is based on the interest cost associated with actual borrowings determined to be in support of the leasing business. The estimated level of debt continues to be based on an assumed 7 to 1 leverage ratio of debt/equity as compared to our average finance receivable balance during the applicable period.
Fair Value of Financial Assets and Liabilities	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.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	Revenues disaggregated by primary geographic markets, major product lines, and sales channels are as follows: Year Ended December 31, 2021 2020 2019 Primary geographical markets (1) United States $ 3,982 $ 4,186 $ 5,429 Europe 2,023 1,883 2,326 Canada 398 393 518 Other 635 560 793 Total Revenues $ 7,038 $ 7,022 $ 9,066 Major product and services lines Equipment $ 1,581 $ 1,564 $ 2,062 Supplies, paper and other sales 1,001 885 1,165 Maintenance agreements (2) 1,787 1,803 2,372 Service arrangements (3) 1,991 2,014 2,517 Rental and other 457 530 706 Financing 221 226 244 Total Revenues $ 7,038 $ 7,022 $ 9,066 Sales channels: Direct equipment lease (4) $ 664 $ 573 $ 672 Distributors & resellers (5) 1,130 910 1,343 Customer direct 788 966 1,212 Total Sales $ 2,582 $ 2,449 $ 3,227 _____________ (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 arrangements. Also includes revenues from embedded operating leases in our Managed Services arrangements, which were not significant. (4) Primarily reflects sales through bundled lease arrangements.
Capitalized contract cost	Year Ended December 31, 2021 2020 2019 Incremental direct costs of obtaining a contract $ 61 $ 62 $ 78 Amortization of incremental direct costs 73 81 88

Segment and Geographic Area R_2

Segment and Geographic Area Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Revenue and long-lived assets by geography	Geographic Area Data Geographic area data is based upon the location of the subsidiary reporting the revenue or long-lived assets and is as follows: Revenues Long-Lived Assets (1) Year Ended December 31, As of December 31, 2021 2020 2019 2021 2020 United States $ 3,982 $ 4,186 $ 5,429 $ 638 $ 692 Europe 2,023 1,883 2,326 258 312 Canada 398 393 518 68 84 Other areas 635 560 793 32 43 Total $ 7,038 $ 7,022 $ 9,066 $ 996 $ 1,131 _____________

Lessor - (Tables)

Lessor - (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Components of lease income	The components of lease income are as follows: Location in Statements of (Loss) Income Year Ended December 31, 2021 2020 2019 Revenue from sales type leases Sales $ 664 $ 573 $ 672 Interest income on lease receivables Financing 221 226 244 Lease income - operating leases Services, maintenance and rentals 246 313 396 Variable lease income Services, maintenance and rentals 62 66 107 Total Lease income $ 1,193 $ 1,178 $ 1,419
Components of lease income	The components of lease income are as follows: Location in Statements of (Loss) Income Year Ended December 31, 2021 2020 2019 Revenue from sales type leases Sales $ 664 $ 573 $ 672 Interest income on lease receivables Financing 221 226 244 Lease income - operating leases Services, maintenance and rentals 246 313 396 Variable lease income Services, maintenance and rentals 62 66 107 Total Lease income $ 1,193 $ 1,178 $ 1,419
Components of lease income	The components of lease income are as follows: Location in Statements of (Loss) Income Year Ended December 31, 2021 2020 2019 Revenue from sales type leases Sales $ 664 $ 573 $ 672 Interest income on lease receivables Financing 221 226 244 Lease income - operating leases Services, maintenance and rentals 246 313 396 Variable lease income Services, maintenance and rentals 62 66 107 Total Lease income $ 1,193 $ 1,178 $ 1,419

Acquisitions and Investments (T

Acquisitions and Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of business acquisitions	The following table summarizes the purchase price allocations for our acquisitions as of the acquisition dates: Year Ended December 31, 2021 Year Ended December 31, 2020 Weighted-Average Life Acquisitions Weighted-Average Life Acquisitions Accounts/finance receivables $ 5 $ 20 Intangible assets: Customer relationships 9 years 27 9 years 69 Trademarks 5 years 3 9 years 9 Technology 3 years 1 3 years 9 Goodwill 25 111 Other assets 4 44 Total Assets acquired 65 262 Liabilities assumed (12) (59) Total Purchase Price $ 53 $ 203
Contributed aggregate revenues from respective acquisitions	Our acquisitions contributed aggregate revenues from their respective acquisition dates as follows: Year Ended December 31, Acquisition Year 2021 2020 2019 2021 $ 19 $ — $ — 2020 137 99 — 2019 17 21 18 Total Contributed Aggregate Revenue $ 173 $ 120 $ 18

Divestitures (Tables)

Divestitures (Tables)	12 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Summarized financial information - discontinued operations	Summarized financial information for our Discontinued Operations is as follows: Year Ended December 31, 2019 Revenue $ 79 Income from operations $ 176 Gain on disposal 629 Income before income taxes 805 Income tax expense 95 Income from discontinued operations, net of tax 710 Income from discontinued operations attributable to noncontrolling interests, net of tax 5 Income from discontinued operations, attributable to Xerox, net of tax $ 705 The following is a summary of selected financial information for our Discontinued Operations: Year Ended December 31, 2019 Cost and Expenses: Cost of revenues $ 44 Other expenses 6 Total Costs and Expenses $ 50 Selected amounts included in Costs and Expenses: Depreciation and amortization $ — Restructuring and related costs, net — Other: Equity in net income of FX $ 147 Net income attributable to noncontrolling interest - XIP 5 Capital expenditures —

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable, net	Accounts receivable, net were as follows: December 31, 2021 2020 Invoiced $ 660 $ 735 Accrued (1) 216 217 Allowance for doubtful accounts (58) (69) Accounts receivable, net $ 818 $ 883 ____________ (1) Accrued receivables includes amounts to be invoiced in the subsequent quarter for current services provided.
Allowance for doubtful accounts	The allowance for doubtful accounts was as follows: Balance at December 31, 2019 $ 55 Provision 35 Charge-offs (22) Recoveries and other (1) 1 Balance at December 31, 2020 $ 69 Provision 8 Charge-offs (18) Recoveries and other (1) (1) Balance at December 31, 2021 $ 58 _____________ (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.
Accounts receivable sales activity	Accounts receivable sales activity was as follows: Year Ended December 31, 2021 2020 2019 Accounts receivable sales (1) $ 478 $ 333 $ 393 _____________ (1) Losses on sales were not material. 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)	12 Months Ended
	Dec. 31, 2021
Financing Receivable, after Allowance for Credit Loss [Abstract]
Finance receivables	Finance receivables, net were as follows: December 31, 2021 2020 Gross receivables $ 3,568 $ 3,691 Unearned income (380) (393) Subtotal 3,188 3,298 Residual values — — Allowance for doubtful accounts (118) (133) Finance Receivables, Net 3,070 3,165 Less: Billed portion of finance receivables, net 94 99 Less: Current portion of finance receivables not billed, net 1,042 1,082 Finance Receivables Due After One Year, Net $ 1,934 $ 1,984
Schedule of financing receivables, minimum payments	A summary of our gross finance receivables' future contractual maturities, including those previously billed, is as follows: December 31, 2021 2020 12 Months $ 1,357 $ 1,426 24 Months 972 1,006 36 Months 668 697 48 Months 396 395 60 Months 157 152 Thereafter 18 15 Total $ 3,568 $ 3,691
Allowance for credit losses, financing receivables	The allowance for doubtful accounts as well as the related investment in finance receivables were as follows: Allowance for Credit Losses: United States Canada (1) Europe (1)(2) Total Balance at December 31, 2019 $ 59 $ 10 $ 20 $ 89 Provision 41 8 32 81 Charge-offs (23) (5) (14) (42) Recoveries and other (3) — 2 3 5 Balance at December 31, 2020 $ 77 $ 15 $ 41 $ 133 Provision 5 (3) (3) (1) Charge-offs (7) (3) (6) (16) Recoveries and other (3) 2 2 (2) 2 Balance at December 31, 2021 $ 77 $ 11 $ 30 $ 118 Finance Receivables Collectively Evaluated for Impairment: December 31, 2020 (4) $ 1,823 $ 297 $ 1,178 $ 3,298 December 31, 2021 (4) $ 1,876 $ 251 $ 1,061 $ 3,188 _____________ (1) 2019 amounts have been recast to include the Other geographic region, which was previously disclosed as a separate grouping, conforming to the current year's presentation . (2) Includes developing market countries. (3) Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations. (4) Total Finance receivables exclude the allowance for credit losses of $118 and $133 at December 31, 2021 and 2020, respectively.
Credit quality indicators for financing receivables	Details about our finance receivables portfolio based on geography, origination year and credit quality indicators are as follows: December 31, 2021 2021 2020 2019 2018 2017 Prior Total United States (Direct): Low Credit Risk $ 148 $ 121 $ 98 $ 68 $ 21 $ 3 $ 459 Average Credit Risk 60 40 57 23 8 2 190 High Credit Risk 91 73 31 16 6 1 218 Total 299 234 186 107 35 6 867 United States (Indirect): Low Credit Risk 235 145 100 43 11 — 534 Average Credit Risk 201 103 74 35 10 — 423 High Credit Risk 24 15 8 4 1 — 52 Total 460 263 182 82 22 — 1,009 Canada Low Credit Risk 32 27 22 13 3 1 98 Average Credit Risk 34 34 27 15 6 1 117 High Credit Risk 8 12 7 5 4 — 36 Total 74 73 56 33 13 2 251 EMEA (1) Low Credit Risk 229 143 121 71 22 6 592 Average Credit Risk 156 109 84 45 15 3 412 High Credit Risk 18 15 13 8 3 — 57 Total 403 267 218 124 40 9 1,061 Total Finance Receivables Low Credit Risk 644 436 341 195 57 10 1,683 Average Credit Risk 451 286 242 118 39 6 1,142 High Credit Risk 141 115 59 33 14 1 363 Total $ 1,236 $ 837 $ 642 $ 346 $ 110 $ 17 $ 3,188 December 31, 2020 2020 2019 2018 2017 2016 Prior Total United States (Direct): Low Credit Risk $ 164 $ 151 $ 128 $ 71 $ 32 $ 4 $ 550 Average Credit Risk 54 95 52 26 8 2 237 High Credit Risk 90 42 27 13 5 3 180 Total 308 288 207 110 45 9 967 United States (Indirect): Low Credit Risk 193 140 79 33 7 — 452 Average Credit Risk 129 124 71 31 8 — 363 High Credit Risk 19 9 9 3 1 — 41 Total 341 273 159 67 16 — 856 Canada Low Credit Risk 37 34 24 10 5 1 111 Average Credit Risk 46 39 26 17 6 1 135 High Credit Risk 18 10 10 10 3 — 51 Total 101 83 60 37 14 2 297 — EMEA (1) Low Credit Risk 197 177 131 62 20 4 591 Average Credit Risk 170 160 108 51 17 4 510 High Credit Risk 23 24 15 10 4 1 77 Total 390 361 254 123 41 9 1,178 Total Finance Receivables Low Credit Risk 591 502 362 176 64 9 1,704 Average Credit Risk 399 418 257 125 39 7 1,245 High Credit Risk 150 85 61 36 13 4 349 Total $ 1,140 $ 1,005 $ 680 $ 337 $ 116 $ 20 $ 3,298 _____________ (1) Includes developing market countries.
Aging of billed finance receivables	The aging of our billed finance receivables is as follows: December 31, 2021 Current 31-90 >90 Days Total Billed Unbilled Total >90 Days Direct $ 28 $ 7 $ 7 $ 42 $ 825 $ 867 $ 61 Indirect 28 5 4 37 972 1,009 — Total United States 56 12 11 79 1,797 1,876 61 Canada 6 1 — 7 244 251 9 EMEA (1) 9 2 1 12 1,049 1,061 13 Total $ 71 $ 15 $ 12 $ 98 $ 3,090 $ 3,188 $ 83 December 31, 2020 Current 31-90 >90 Days Total Billed Unbilled Total >90 Days Direct $ 33 $ 6 $ 9 $ 48 $ 919 $ 967 $ 74 Indirect 21 4 3 28 828 856 — Total United States 54 10 12 76 1,747 1,823 74 Canada 8 2 — 10 287 297 12 EMEA (1) 12 3 2 17 1,161 1,178 23 Total $ 74 $ 15 $ 14 $ 103 $ 3,195 $ 3,298 $ 109 _____________ (1) Includes developing market countries.

Inventories and Equipment on _2

Inventories and Equipment on Operating Leases, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Inventories and Equipment on Operating Leases, Net [Abstract]
Schedule of inventories by major category	The following is a summary of Inventories by major category: December 31, 2021 2020 Finished goods $ 568 $ 707 Work-in-process 43 43 Raw materials 85 93 Total Inventories $ 696 $ 843
Schedule of equipment on operating leases and related accumulated depreciation	Equipment on operating leases and the related accumulated depreciation were as follows: December 31, 2021 2020 Equipment on operating leases $ 1,266 $ 1,376 Accumulated depreciation (1,013) (1,080) Equipment on operating leases, net $ 253 $ 296
Schedule of maturities and additional information related to operating lease liabilities	Estimated minimum future revenues associated with Equipment on operating leases are as follows: December 31, 2021 2020 12 months $ 202 $ 215 24 months 110 129 36 months 61 74 48 months 32 32 60 months 10 12 Thereafter 2 1 Total $ 417 $ 463 Maturities and additional information related to operating lease liabilities are as follows: December 31, 2021 2020 12 months $ 98 $ 104 24 months 78 88 36 months 45 68 48 months 31 37 60 months 26 25 Thereafter 35 52 Total Lease payments 313 374 Less: Imputed interest 30 41 Total Operating lease liabilities $ 283 $ 333

Land, Buildings, Equipment an_2

Land, Buildings, Equipment and Software, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Land, Buildings and Equipment, Net [Abstract]
Land, buildings and equipment, net	Land, buildings and equipment, net were as follows: December 31, Estimated Useful Lives (Years) 2021 2020 Land $ 9 $ 13 Building and building equipment 25 to 50 777 814 Leasehold improvements 1 to 12 112 124 Plant machinery 5 to 12 1,098 1,149 Office furniture and equipment 3 to 15 475 476 Finance leases (1) 1 to 12 13 13 Other (1) 4 to 20 44 32 Construction in progress 17 17 Subtotal 2,545 2,638 Accumulated depreciation (2,187) (2,231) Land, buildings and equipment, net $ 358 $ 407 _____________

Lessee (Tables)

Lessee (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense are as follows: Year Ended December 31, 2021 2020 2019 Operating lease expense $ 104 $ 113 $ 125 Short-term lease expense 20 20 21 Variable lease expense (1) 48 47 48 Sublease income (4) (2) (1) Total Lease expense $ 168 $ 178 $ 193 _____________
Schedule of operating leases assets and liabilities	Operating leases ROU assets, net and operating lease liabilities were reported in the Consolidated Balance Sheets as follows: December 31, 2021 2020 Other long-term assets $ 264 $ 310 Accrued expenses and other current liabilities $ 79 $ 83 Other long-term liabilities 204 250 Total Operating lease liabilities $ 283 $ 333
Schedule of supplemental information related to operating leases	Supplemental information related to operating leases is as follows: Year Ended December 31, 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows $ 109 $ 119 $ 126 Right-of-use assets obtained in exchange for new lease liabilities (1) 41 76 75 Weighted-average remaining lease term 5 years 5 years 4 years Weighted-average discount rate 4.67 % 5.03 % 5.47 % _____________ (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	Estimated minimum future revenues associated with Equipment on operating leases are as follows: December 31, 2021 2020 12 months $ 202 $ 215 24 months 110 129 36 months 61 74 48 months 32 32 60 months 10 12 Thereafter 2 1 Total $ 417 $ 463 Maturities and additional information related to operating lease liabilities are as follows: December 31, 2021 2020 12 months $ 98 $ 104 24 months 78 88 36 months 45 68 48 months 31 37 60 months 26 25 Thereafter 35 52 Total Lease payments 313 374 Less: Imputed interest 30 41 Total Operating lease liabilities $ 283 $ 333

Investment in Affiliates, at _2

Investment in Affiliates, at Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Total equity in net income of unconsolidated affiliates	Our equity in net income of our unconsolidated affiliates is as follows: Year Ended December 31, 2021 2020 2019 Fuji Xerox (1) $ — $ — $ 147 Other 3 4 8 Total Equity in net income of unconsolidated affiliates $ 3 $ 4 $ 155
Summarized financial information of Fuji Xerox	Summarized financial information for Fuji Xerox was as follows: Through Date of Sale Summary of Operations Revenues $ 7,667 Costs and expenses 6,814 Income before income taxes 853 Income tax expense 258 Net Income 595 Less: Net income - noncontrolling interests 3 Net Income - Fuji Xerox $ 592
Exchange rates used to translate results of equity investments in affiliates	Yen/U.S. Dollar exchange rate used to translate was as follows: Financial Statement Exchange Basis 2019 Summary of Operations Weighted average rate 109.03

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Goodwill The following table presents the changes in the carrying amount of Goodwill: Total Balance at December 31, 2018 $ 3,858 Foreign currency translation 28 Acquisitions 14 Balance at December 31, 2019 $ 3,900 Foreign currency translation 60 Acquisitions: U.K. Acquisitions 98 Canada Acquisition 10 Other 3 Balance at December 31, 2020 (1) $ 4,071 Foreign currency translation (23) Acquisitions: U.S. Acquisitions 9 Canada Acquisition 16 Goodwill impairment (2) (781) Other (5) Balance at December 31, 2021 $ 3,287 _____________ (1) CareAR Holdings, LLC was transferred from Xerox Holdings to Xerox in 2021. Accordingly, the balance at December 31, 2020 reflects the balance for both Xerox Holdings and Xerox. (2) Non-cash, pre-tax Goodwill impairment charge of $781 ($750 after-tax).
Schedule of intangible assets, net	Intangible Assets, Net Intangible assets, net were $211 at December 31, 2021. Intangible assets were comprised of the following: December 31, 2021 December 31, 2020 Weighted Average Gross Accumulated Net Gross Accumulated Net Amount (1) Customer relationships 10 years $ 211 $ 95 $ 116 $ 185 $ 74 $ 111 Distribution network 25 years 123 108 15 123 103 20 Trademarks 19 years 237 164 73 235 138 97 Technology and non-compete 3 years 15 8 7 29 20 9 Total Intangible Assets $ 586 $ 375 $ 211 $ 572 $ 335 $ 237 _____________ (1) CareAR Holdings, LLC was transferred from Xerox Holdings to Xerox in 2021. Accordingly, the balances at December 31, 2020 reflect the balances for both Xerox Holdings and Xerox.

Restructuring Programs (Tables)

Restructuring Programs (Tables)	12 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring program activity	A summary of our restructuring program activity for the three years ended December 31, 2021, 2020 and 2019 is as follows: Severance and Other Contractual Termination Costs (2) Asset Impairments (3)(4) Total Balance at December 31, 2018 $ 94 $ 1 $ — $ 95 Restructuring provision 81 19 61 161 Reversals of prior charges (24) (5) (5) (34) Net Current Period Charges (1) 57 14 56 127 Charges against reserve and currency (85) (11) (56) (152) Balance at December 31, 2019 $ 66 $ 4 $ — $ 70 Restructuring provision 107 3 6 116 Reversals of prior charges (21) (2) (6) (29) Net Current Period Charges (1) 86 1 — 87 Charges against reserve and currency (74) (1) — (75) Balance at December 31, 2020 $ 78 $ 4 $ — $ 82 Restructuring provision 30 3 15 48 Reversals of prior charges (13) (6) (2) (21) Net Current Period Charges (1) 17 (3) 13 27 Charges against reserve and currency (70) 1 (13) (82) Balance at December 31, 2021 $ 25 $ 2 $ — $ 27 _____________ (1) Represents net amount recognized within the Consolidated Statements of (Loss) Income for the years shown for restructuring and asset impairment charges. Reversals of prior charges primarily includes net changes in estimated reserves from prior period initiatives. Net reversals for 2021 also include a $4 gain on the sale of surplus land. (2) Primarily includes additional costs incurred upon the exit from our facilities including decommissioning costs and associated contractual termination costs. (3) Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision. (4) Amounts primarily relate to the exit and abandonment of leased and owned facilities. For the year ended December 31, 2021, 2020 and 2019, the charge includes the accelerated write-off of $3, $4 and $39, respectively, for leased right-of-use assets and $12, $2 and $22, respectively, for owned assets. Impairments are net of any potential sublease income or other recovery amounts .
Reconciliation to the consolidated statements of cash flows	The following table summarizes the reconciliation to the Consolidated Statements of Cash Flows: Year Ended December 31, 2021 2020 2019 Charges against reserve and currency $ (82) $ (75) $ (152) Asset impairments 13 — 56 Effects of foreign currency and other non-cash items (3) (6) 3 Restructuring Cash Payments $ (72) $ (81) $ (93)
Restructuring and related costs	In connection with our restructuring programs, we also incurred certain related costs as follows: Year Ended December 31, 2021 2020 2019 Retention related severance/bonuses (1) $ 6 $ 4 $ 39 Contractual severance costs (2) 1 (2) 43 Consulting and other costs (3) 4 4 20 $ 11 $ 6 $ 102 _____________ (1) Includes retention related severance and bonuses for employees expected to continue working beyond their minimum retention period before termination. (2) 2019 costs include approximately $38 for estimated severance and other related costs we were contractually required to pay in connection with 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.

Supplementary Financial Infor_2

Supplementary Financial Information (Tables)	12 Months Ended
	Dec. 31, 2021
Supplemental Financial Information [Abstract]
Other assets and liabilities	The components of Other assets and liabilities are as follows: December 31, 2021 2020 Other Current Assets Income taxes receivable $ 11 $ 29 Royalties, license fees and software maintenance 23 21 Restricted cash 33 23 Prepaid expenses 30 31 Advances and deposits 32 34 Other 82 113 Total Other Current Assets $ 211 $ 251 Other Long-term Assets Income taxes receivable $ 8 $ 7 Prepaid pension costs 1,211 617 Internal use software, net 120 118 Restricted cash 36 43 Customer contract costs, net 147 158 Operating lease right-of-use assets 264 310 Deferred compensation plan investments 18 18 Investments in affiliates, at equity (1) 45 47 Investments at cost - Xerox Holdings 8 — Other 103 137 Total Other Long-term Assets (2) $ 1,960 $ 1,455 Accrued Expenses and Other Current Liabilities Income taxes payable $ 30 $ 7 Other taxes payable 69 68 Operating lease obligations 79 83 Financing lease obligations 2 2 Interest payable 53 56 Restructuring reserves 26 82 Restructuring related costs 18 21 Product warranties 5 5 Dividends payable (3) 48 59 Distributor and reseller rebates/commissions 112 123 Unearned income and other revenue deferrals 194 140 Administration and overhead 57 52 Other 178 142 Total Accrued Expenses and Other Current Liabilities (4) $ 871 $ 840 Other Long-term Liabilities Deferred taxes $ 108 $ 35 Income taxes payable 40 57 Operating lease obligations 204 250 Finance lease obligations 5 7 Environmental reserves 9 9 Restructuring reserves 1 2 Other 114 137 Total Other Long-term Liabilities $ 481 $ 497 _____________ (1) Refer to Note 12 - Investments in Affiliates, at Equity for additional information. (2) Xerox's balance of 1,952 at December 31, 2021 excludes Investments at cost. (3) Represents dividends payable by Xerox Holdings Corporation on Common and Preferred Stock. (4) Xerox's balance of $823 at December 31, 2021 excludes Dividends Payable of $48. Xerox's balance of $749 at December 31, 2020 excludes Interest Payable of $32 and Dividends Payable of $59.
Schedule of restricted cash	Cash, cash equivalents and restricted cash amounts are as follows: December 31, 2021 2020 Cash and cash equivalents $ 1,840 $ 2,625 Restricted cash Litigation deposits in Brazil 34 42 Escrow and cash collections related to secured borrowing arrangements (1) 32 22 Other restricted cash 3 2 Total Restricted Cash 69 66 Cash, cash equivalents and restricted cash $ 1,909 $ 2,691 __________________________ (1) Represents collections on finance receivables pledged for secured borrowings that will be remitted to lenders in the following month.
Restricted cash balance sheet location	Restricted cash is reported in the Consolidated Balance Sheets as follows: December 31, 2021 2020 Other current assets $ 33 $ 23 Other long-term assets 36 43 Total Restricted cash $ 69 $ 66
Pension and other benefit liabilities	Pension and Other Benefit Liabilities December 31, 2021 2020 Pension liabilities (1) $ 1,285 $ 1,474 Accrued compensation liabilities 66 70 Deferred compensation liabilities (2) 22 22 Pension and other benefit liabilities $ 1,373 $ 1,566 __________________________ (1) Refer to Note 19 - Employee Benefit Plans for additional information regarding pension liabilities.
Summarized cash flow information	Summarized cash flow information is as follows: Year Ended December 31, 2021 2020 2019 Provision for receivables $ 12 $ 116 $ 49 Provision for inventories 34 31 24 Provision for product warranties 8 8 12 Depreciation of buildings and equipment 76 87 101 Depreciation and obsolescence of equipment on operating leases 155 183 225 Amortization of internal use software 41 42 59 Amortization of acquired intangible assets 55 56 45 Amortization of customer contract costs (1) 79 85 93 Cost of additions to land, buildings and equipment 29 44 41 Cost of additions to internal use software 39 30 24 Common stock dividends - Xerox Holdings 192 216 229 Preferred stock dividends - Xerox Holdings 14 14 14 Payments to noncontrolling interests 1 3 14 Repurchases related to stock-based compensation - Xerox Holdings 18 19 28 Investments from noncontrolling interests 15 — — __________________________ (1) Amortization of customer contract costs is reported in Decrease (increase) in other current and long-term assets on the Consolidated Statements of Cash Flows. Refer to Note 2 - Revenue - Contract Costs for additional information.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of short-term borrowings	Short-term borrowings were as follows: December 31, 2021 2020 Short-term debt and current portion of long-term debt Xerox Holdings Corporation $ — $ — Xerox Corporation 300 — Xerox - Other Subsidiaries (1) 350 394 Total $ 650 $ 394 _____________ (1) Represents subsidiaries of Xerox Corporation.
Schedule of long-term debt	Long-term debt was as follows: December 31, Stated Rate Weighted Average Interest Rates at December 31, 2021 (1) 2021 2020 Xerox Holdings Corporation Senior Notes due 2025 5.00 % 4.95 % $ 750 $ 750 Senior Notes due 2028 5.50 % 5.40 % 750 750 Subtotal - Xerox Holdings Corporation $ 1,500 $ 1,500 Xerox Corporation Senior Notes due 2022 4.07 % 4.07 % $ 300 $ 300 Senior Notes due 2023 (2) 4.38 % 3.68 % 1,000 1,000 Senior Notes due 2024 3.80 % 3.84 % 300 300 Senior Notes due 2035 4.80 % 4.84 % 250 250 Senior Notes due 2039 6.75 % 6.78 % 350 350 Subtotal - Xerox Corporation $ 2,200 $ 2,200 Xerox - Other Subsidiaries (3) Secured Borrowing - July 2020 1.76 % — % $ — $ 267 Secured Borrowing - December 2020 1.74 % 1.74 % 268 500 Secured Borrowing - September 2021 1.40 % 1.40 % 293 — Subtotal - Xerox - Other Subsidiaries $ 561 $ 767 Principal debt balance $ 4,261 $ 4,467 Xerox Holdings Corporation - Debt issuance costs (11) (13) Xerox Corporation - Debt issuance costs (6) (11) Xerox - Other subsidiaries - Debt issuance costs (1) (3) Subtotal - Debt issuance costs (18) (27) Unamortized premium 3 3 Fair value adjustments (4) Terminated swaps — 1 Current swaps — — Less: current maturities (650) (394) Total Long-term Debt $ 3,596 $ 4,050 _____________ (1) Represents the weighted average effective interest rate, which includes the effect of discounts and premiums on issued debt. (2) As a result of the downgrade of our debt ratings in August 2020, the coupon rate of 4.125% increased by 0.25% to 4.375% effective September 15, 2020. (3) The rates disclosed for Other Subsidiaries of Xerox Corporation are variable interest rates. Refer to the Secured Borrowings and Collateral section below for additional information.
Schedule of maturities of long-term debt	Scheduled principal payments due on our long-term debt for the next five years and thereafter are as follows: 2022 (1) 2023 2024 2025 2026 Thereafter Total Xerox Holdings Corporation $ — $ — $ — $ 750 $ — $ 750 $ 1,500 Xerox Corporation 300 1,000 300 — — 600 2,200 Xerox - Other Subsidiaries (2) 351 185 25 — — — 561 Total $ 651 $ 1,185 $ 325 $ 750 $ — $ 1,350 $ 4,261 _____________ (1) Current portion of long-term debt maturities for 2022 are $396, $92, $85 and $78 for the first, second, third and fourth quarters, respectively. (2) Represents subsidiaries of Xerox Corporation.
Schedule of assets and liabilities held by SPE	Below are the assets and liabilities held by the consolidated SPEs, which are included in our Consolidated Balance Sheet: December 31, December 31, Assets held by SPEs Billed portion of finance receivables, net $ 27 $ 28 Finance receivables, net 299 350 Finance receivables due after one year, net 362 510 Equipment on operating leases, net 8 8 Restricted cash (1) 32 22 Total Assets $ 728 $ 918 Liabilities held by SPEs Current portion of long-term debt, net (2) $ 350 $ 394 Long term debt, net 210 370 Total Liabilities $ 560 $ 764 ____________ _ (1) Restricted cash is included in Other current assets in our Consolidated Balance Sheet. (2) Amounts net of unamortized debt issuance costs of $1.
Interest income and interest expense disclosure	Interest expense and interest income was as follows: Year Ended December 31, 2021 2020 2019 Interest expense (1) (2) $ 207 $ 215 $ 236 Interest income (3) 225 240 260 _____________ (1) Includes Equipment financing interest as well as non-financing interest expense included in Other expenses, net in the Consolidated Statements of (Loss) Income. (2) Interest expense of Xerox Corporation included intercompany expense associated with the Xerox Holdings Corporation/Xerox Corporation Intercompany Loan of $80 and $32 for the years ended December 31, 2021 and 2020, respectively.

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of foreign exchange contracts gross notional values	The following is a summary of the primary hedging positions and corresponding fair values as of December 31, 2021: Currencies Hedged (Buy/Sell) Gross Fair Value Asset (1) Japanese Yen/U.S. Dollar $ 262 $ (6) Euro/U.K. Pound Sterling 197 (2) Japanese Yen/Euro 169 (1) Euro/U.S. Dollar 145 1 U.S. Dollar/Euro 118 1 U.S. Dollar/Canadian Dollar 50 1 Euro/Danish Krone 34 — Euro/Canadian Dollar 28 — U.K. Pound Sterling/Euro 23 — U.S. Dollar/Russian Ruble 10 — U.S. Dollar/Brazilian Real 10 — U.S. Dollar/Israeli Shekel 8 — Russian Ruble/U.S. Dollar 8 — All Other 51 (1) Total Foreign exchange hedging $ 1,113 $ (7) ____________ (1) Represents the net receivable (payable) amount included in the Consolidated Balance Sheet at December 31, 2021.
Schedule of derivative instruments fair value	The following table provides a summary of the fair value amounts of our derivative instruments: December 31, Designation of Derivatives Balance Sheet Location 2021 2020 Derivatives Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 3 $ 3 Accrued expenses and other current liabilities (6) (2) Foreign currency options Other current assets — 1 Interest rate cap Other long-term assets 1 — Net Designated Derivative (Liability) Asset $ (2) $ 2 Derivatives NOT Designated as Hedging Instruments Foreign exchange contracts – forwards Other current assets $ 1 $ 3 Accrued expenses and other current liabilities (5) (3) Net Undesignated Derivative Liability $ (4) $ — Summary of Derivatives Total Derivative Assets $ 5 $ 7 Total Derivative Liabilities (11) (5) Net Derivative (Liability) Asset $ (6) $ 2
Schedule of fair value hedges gains (losses)	The following tables provide a summary of gains (losses) on derivative instruments: Derivative (Loss) Gain Recognized in Income Hedged Item Gain (Loss) Recognized in Income Derivatives in Fair Value Location of Gain (Loss) Year Ended December 31, 2021 2020 2019 2021 2020 2019 Interest rate contracts Interest expense $ — $ (1) $ 4 $ — $ 1 $ (4)
Schedule of cash flow hedges gain (loss)	Derivative (Loss) Gain Recognized in OCI (Effective Portion) (Loss) Gain Reclassified from AOCI to Income (Effective Portion) Derivatives in Cash Flow Year Ended December 31, Location of Derivative Year Ended December 31, 2021 2020 2019 2021 2020 2019 Foreign exchange contracts – forwards/options $ (12) $ 4 $ 2 Cost of sales $ (7) $ (1) $ 9
Schedule of derivatives not designated as hedging instruments gains (losses)	The following table provides a summary of gains (losses) on non-designated derivative instruments: Year Ended December 31, Derivatives NOT Designated as Hedging Instruments Location of Derivative (Loss) Gain 2021 2020 2019 Foreign exchange contracts – forwards Other expense – Currency (losses) gains, net $ (26) $ 14 $ (6)

Fair Value of Financial Asset_2

Fair Value of Financial Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value of financial assets and liabilities	The following table represents assets and liabilities' fair value measured on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs. As of December 31, 2021 2020 Assets Foreign exchange contracts - forwards $ 4 $ 6 Foreign currency options — 1 Interest rate cap 1 — Deferred compensation investments in mutual funds 18 18 Total $ 23 $ 25 Liabilities Foreign exchange contracts - forwards $ 11 $ 5 Deferred compensation plan liabilities 18 17 Total $ 29 $ 22
Schedule of 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: December 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Cash and cash equivalents $ 1,840 $ 1,840 $ 2,625 $ 2,625 Accounts receivable, net 818 818 883 883 Short-term debt and current portion of long-term debt 650 653 394 396 Long-term debt Xerox Holdings Corporation $ 1,494 $ 1,579 $ 1,493 $ 1,596 Xerox Corporation 1,892 1,987 2,187 2,298 Xerox - Other Subsidiaries (1) 210 210 370 372 Total Long-term debt $ 3,596 $ 3,776 $ 4,050 $ 4,266 _____________ (1) Represents subsidiaries of Xerox Corporation.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of net funded status	Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health 2021 2020 2021 2020 2021 2020 Change in Benefit Obligation: Benefit obligation, January 1 $ 3,747 $ 3,598 $ 7,159 $ 6,492 $ 370 $ 385 Service cost 2 2 20 20 2 2 Interest cost 80 196 88 113 8 12 Plan participants' contributions — — 3 3 8 10 Actuarial (gain) loss (86) 240 (233) 439 (1) 4 Currency exchange rate changes — — (193) 374 — 3 Plan Amendments/Curtailments — — (4) 2 (50) (11) Benefits paid/settlements (371) (289) (297) (284) (34) (35) Other — — — — — — Benefit Obligation, December 31 $ 3,372 $ 3,747 $ 6,543 $ 7,159 $ 303 $ 370 Change in Plan Assets: Fair value of plan assets, January 1 $ 2,802 $ 2,493 $ 7,199 $ 6,385 $ — $ — Actual return on plan assets 89 563 415 637 — — Employer contributions 24 35 111 104 25 25 Plan participants' contributions — — 3 3 8 10 Currency exchange rate changes — — (178) 354 — — Benefits paid/settlements (371) (289) (297) (284) (33) (35) Other — — (1) — — — Fair Value of Plan Assets, December 31 $ 2,544 $ 2,802 $ 7,252 $ 7,199 $ — $ — Net Funded Status at December 31 (1) $ (828) $ (945) $ 709 $ 40 $ (303) $ (370) Amounts Recognized in the Consolidated Balance Sheets: Other long-term assets $ — $ — $ 1,211 $ 617 $ — $ — Accrued compensation and benefit costs (24) (24) (21) (24) (26) (30) Pension and other benefit liabilities (804) (921) (481) (553) — — Post-retirement medical benefits — — — — (277) (340) Net Amounts Recognized $ (828) $ (945) $ 709 $ 40 $ (303) $ (370) Accumulated Benefit Obligation $ 3,372 $ 3,747 $ 6,412 $ 7,018 _____________ (1) Includes under-funded and unfunded plans.
Schedule of amounts in accumulated other comprehensive loss to be recognized over next fiscal year	Benefit plans pre-tax amounts recognized in AOCL at December 31st: Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health 2021 2020 2021 2020 2021 2020 Net actuarial loss (gain) $ 745 $ 874 $ 939 $ 1,471 $ (25) $ (23) Prior service (credit) cost — (1) 29 27 (83) (99) Total Pre-tax loss (gain) $ 745 $ 873 $ 968 $ 1,498 $ (108) $ (122)
Schedule of accumulated benefit obligations in excess of fair value of plan assets	Aggregate information for pension plans with an Accumulated benefit obligation in excess of plan assets is presented below. Information for Retiree Health plans with an accumulated post-retirement benefit obligation in excess of plan assets has been disclosed in the preceding table on Benefit obligations and Net funded status as all Retiree Health plans are unfunded. December 31, 2021 December 31, 2020 Accumulated Benefit Obligation Fair Value of Plan Assets Accumulated Benefit Obligation Fair Value of Plan Assets Underfunded Plans: U.S. $ 3,056 $ 2,544 $ 3,408 $ 2,802 Non U.S. 181 144 921 873 Unfunded Plans: U.S. $ 316 $ — $ 339 $ — Non U.S. 440 — 502 — Total Underfunded and Unfunded Plans: U.S. $ 3,372 $ 2,544 $ 3,747 $ 2,802 Non U.S. 621 144 1,423 873 Total $ 3,993 $ 2,688 $ 5,170 $ 3,675 Aggregate information for pension plans with a benefit obligation in excess of plan assets is presented below: December 31, 2021 December 31, 2020 Benefit Obligation Fair Value of Plan Assets Benefit Obligation Fair Value of Plan Assets Underfunded Plans: U.S. $ 3,056 $ 2,544 $ 3,408 $ 2,802 Non U.S. 810 751 942 873 Unfunded Plans: U.S. $ 316 $ — $ 339 $ — Non U.S. 447 — 512 — Total Underfunded and Unfunded Plans: U.S. $ 3,372 $ 2,544 $ 3,747 $ 2,802 Non U.S. 1,257 751 1,454 873 Total $ 4,629 $ 3,295 $ 5,201 $ 3,675
Schedule of defined benefit pension assets and obligations by geography	Pension plan assets and benefit obligations by country were as follows: December 31, 2021 December 31, 2020 Fair Value of Pension Plan Assets Pension Benefit Obligations Net Funded Status Fair Value of Pension Plan Assets Pension Benefit Obligations Net Funded Status U.S. funded $ 2,544 $ 3,056 $ (512) $ 2,802 $ 3,408 $ (606) U.S. unfunded — 316 (316) — 339 (339) Total U.S. 2,544 3,372 (828) 2,802 3,747 (945) U.K. 4,914 3,870 1,044 4,707 4,218 489 Netherlands 1,174 1,145 29 1,266 1,226 40 Canada 746 747 (1) 794 797 (3) Germany — 346 (346) — 395 (395) Other 418 435 (17) 432 523 (91) Total $ 9,796 $ 9,915 $ (119) $ 10,001 $ 10,906 $ (905)
Schedule of 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: Year Ended December 31, Pension Benefits U.S. Plans Non-U.S. Plans Retiree Health 2021 2020 2019 2021 2020 2019 2021 2020 2019 Components of Net Periodic Benefit Costs: Service cost $ 2 $ 2 $ 2 $ 20 $ 20 $ 22 $ 2 $ 2 $ 2 Interest cost (1) 80 196 218 88 113 153 8 12 15 Expected return on plan assets (2) (117) (217) (210) (208) (191) (233) — — — Recognized net actuarial loss (gain) 17 27 24 59 58 43 1 (1) (5) Amortization of prior service credit (1) (2) (2) (1) (1) (2) (66) (76) (77) Recognized settlement loss 54 53 93 1 1 1 — — — Recognized curtailment gain — — — (4) (1) — — — — Defined Benefit Plans 35 59 125 (45) (1) (16) (55) (63) (65) Defined contribution plans — 1 26 18 18 23 n/a n/a n/a Net Periodic Benefit Cost (Credit) 35 60 151 (27) 17 7 (55) (63) (65) Other changes in plan assets and benefit obligations recognized in Other Comprehensive Income (Loss): Net actuarial (gain) loss (57) (105) 243 (425) (9) 24 (1) 4 8 Prior service (credit) cost — — — (4) 4 — (50) (11) — Amortization of net actuarial (loss) gain (71) (80) (117) (60) (59) (44) (1) 1 5 Amortization of net prior service credit 1 2 2 1 1 2 66 76 77 Curtailment gain — — — 4 1 — — — — Total Recognized in Other Comprehensive Income (Loss) (3) (127) (183) 128 (484) (62) (18) 14 70 90 Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss) $ (92) $ (123) $ 279 $ (511) $ (45) $ (11) $ (41) $ 7 $ 25 _____________ (1) Interest cost for Pension Benefits includes interest expense on non-TRA obligations of $150, $184 and $243 and interest expense (income) directly allocated to TRA participant accounts of $18, $125 and $128 for the years ended December 31, 2021, 2020 and 2019, respectively. (2) Expected return on plan assets includes expected investment income on non-TRA assets of $307, $283 and $315 and actual investment income (loss) on TRA assets of $18, $125 and $128 for the years ended December 31, 2021, 2020 and 2019, respectively. (3) Amounts represent the pre-tax effect included in Other comprehensive income. Refer to Note 25 - Other Comprehensive Income (Loss) for the related tax effects and the net of tax amounts.
Defined benefit plan assets measured at fair value, observable and unobservable inputs	The following tables present the defined benefit plans assets measured at fair value and the basis for that measurement. December 31, 2021 U.S. Plans Non-U.S. Plans Asset Class Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Cash and cash equivalents $ 3 $ — $ — $ — $ 3 $ 477 $ — $ — $ — $ 477 Equity Securities: U.S. 148 — — — 148 35 36 — — 71 International 161 — — 230 391 699 339 — 37 1,075 Fixed Income Securities: U.S. treasury securities — 214 — — 214 — 61 — — 61 Debt security issued by government agency — 119 — — 119 — 2,181 — — 2,181 Corporate bonds — 1,134 — — 1,134 — 985 — — 985 Derivatives — 5 — — 5 — 300 — — 300 Real estate — — 51 10 61 — — 164 112 276 Private equity/venture capital — — — 239 239 — — 4 1,684 1,688 Guaranteed insurance contracts — — — — — — — 75 — 75 Other (2)(3) 95 — — 135 230 22 41 — — 63 Total Fair Value of Plan Assets $ 407 $ 1,472 $ 51 $ 614 $ 2,544 $ 1,233 $ 3,943 $ 243 $ 1,833 $ 7,252 _____________ (1) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. (2) Other NAV includes mutual funds of $75 (measured at NAV) which are invested approximately 75% in fixed income securities and approximately 25% in equity securities. (3) Other Level 1 includes mutual funds of $93, which are invested in equity securities, and net non-financial assets of $2 U.S. and $22 Non-U.S., respectively, such as due to/from broker, interest receivables and accrued expenses. December 31, 2020 U.S. Plans Non-U.S. Plans Asset Class Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Level 1 Level 2 Level 3 Assets measured at NAV (1) Total Cash and cash equivalents $ 17 $ — $ — $ — $ 17 $ 401 $ — $ — $ — $ 401 Equity Securities: U.S. 224 — — 39 263 178 56 — — 234 International 243 — — 204 447 559 321 — 151 1,031 Fixed Income Securities: U.S. treasury securities — 325 — — 325 — 77 — — 77 Debt security issued by government agency — 78 — — 78 — 2,026 — — 2,026 Corporate bonds — 1,252 — — 1,252 — 921 — — 921 Derivatives — 11 — — 11 — 488 — — 488 Real estate — — 31 10 41 — — 208 108 316 Private equity/venture capital — — — 209 209 — — 3 1,557 1,560 Guaranteed insurance contracts — — — — — — — 86 — 86 Other (2)(3) 7 — — 152 159 21 38 — — 59 Total Fair Value of Plan Assets $ 491 $ 1,666 $ 31 $ 614 $ 2,802 $ 1,159 $ 3,927 $ 297 $ 1,816 $ 7,199 _____________ (1) Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. (2) Other NAV includes mutual funds of $73 (measured at NAV) which are invested approximately 70% in fixed income securities and approximately 30% in equity securities.
Schedule of fair value, assets measured on recurring basis, unobservable input reconciliation	The following tables represents a roll-forward of the defined benefit plans assets measured at fair value using significant unobservable inputs (Level 3 assets): U.S. Non-U.S. Real Estate Real Estate Private Equity/Venture Capital Guaranteed Insurance Contracts Total Balance at December 31, 2019 $ 5 $ 219 $ 5 $ 90 $ 314 Purchases 27 — 3 — 3 Sales — (15) — (4) (19) Unrealized losses (1) (8) (4) (8) (20) Currency translation — 12 (1) 8 19 Balance at December 31, 2020 $ 31 $ 208 $ 3 $ 86 $ 297 Purchases 15 10 — — 10 Sales — (33) — (5) (38) Unrealized gains (losses) 5 (12) 1 1 (10) Currency translation — (9) — (7) (16) Balance at December 31, 2021 $ 51 $ 164 $ 4 $ 75 $ 243
Schedule of allocation of plan assets	The target asset allocations for our worldwide defined benefit pension plans were: 2021 2020 U.S. Non-U.S. U.S. Non-U.S. Equity investments (1) 24% 15% 23% 15% Fixed income investments 60% 44% 61% 44% Real estate 6% 4% 6% 4% Private equity/venture capital 8% 24% 8% 22% Other 2% 13% 2% 15% Total Investment Strategy 100% 100% 100% 100% _____________ (1) Target allows for an additional allocation to synthetic equity which is offset by cash.
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. Year Ended December 31, 2021 Estimated 2022 U.S. Plans $ 24 $ 25 Non-U.S. Plans 111 110 Total $ 135 $ 135 Retiree Health $ 25 $ 25
Schedule of expected benefit payments	The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the following years: Pension Benefits U.S. Non-U.S. Total Retiree Health 2022 $ 349 $ 284 $ 633 $ 25 2023 301 291 592 25 2024 287 301 588 24 2025 276 304 580 22 2026 263 313 576 21 Years 2027-2031 1,095 1,681 2,776 87
Schedule of assumptions used	Weighted-average assumptions used to determine benefit obligations at the plan measurement dates: Pension Benefits 2021 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 2.7 % 1.8 % 2.2 % 1.3 % 3.1 % 1.8 % Rate of compensation increase 0.1 % 2.8 % 0.1 % 2.6 % 0.2 % 2.6 % Interest crediting rate 2.8 % 1.5 % 2.8 % 1.5 % 2.8 % 1.5 % Retiree Health 2021 2020 2019 Discount rate 2.7 % 2.2 % 3.0 % Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31: Pension Benefits 2022 2021 2020 2019 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 2.7 % 1.8 % 2.2 % 1.3 % 3.1 % 1.8 % 4.2 % 2.6 % Expected return on plan assets 5.9 % 3.2 % 5.9 % 3.1 % 6.0 % 3.3 % 6.0 % 4.0 % Rate of compensation increase 0.1 % 2.8 % 0.1 % 2.6 % 0.2 % 2.6 % 0.2 % 2.6 % Interest crediting rate 2.5 % 1.5 % 2.8 % 1.5 % 2.8 % 1.5 % 2.8 % 1.5 % Retiree Health 2022 2021 2020 2019 Discount rate 2.7 % 2.2 % 3.0 % 4.1 % _____________
Schedule of health care cost trend rates	Assumed health care cost trend rates were as follows: December 31, 2021 2020 Health care cost trend rate assumed for next year 5.3 % 5.7 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.3 % 4.3 % Year that the rate reaches the ultimate trend rate 2026 2025

Income and Other Taxes (Tables)

Income and Other Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of income before income tax, domestic and foreign	(Loss) income before income taxes and equity income (pre-tax (loss) income) from continuing operations was as follows: Year Ended December 31, 2021 2020 2019 Domestic (loss) income $ (343) $ 353 $ 679 Foreign (loss) income (132) (101) 143 (Loss) Income before Income Taxes and Equity Income $ (475) $ 252 $ 822
Schedule of components of income tax expense (benefit)	The components of Income tax (benefit) expense from continuing operations were as follows: Year Ended December 31, 2021 2020 2019 Federal Income Taxes Current $ 33 $ 3 $ (3) Deferred (61) 58 98 Foreign Income Taxes Current 29 19 43 Deferred (20) (34) 5 State Income Taxes Current 10 8 15 Deferred (8) 10 21 Income Tax (Benefit) Expense $ (17) $ 64 $ 179
Schedule of effective income tax rate reconciliation	A reconciliation of the U.S. federal statutory income tax rate to the consolidated effective income tax rate was as follows: Year Ended December 31, 2021 2020 2019 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % Nondeductible expenses (1.9) % 4.1 % 1.3 % Effect of tax law changes 3.1 % (10.5) % (4.6) % Change in valuation allowance for deferred tax assets 2.0 % 9.9 % 2.0 % State taxes, net of federal benefit (0.6) % 5.5 % 3.5 % Audit and other tax return adjustments 5.6 % 1.4 % 0.6 % Tax-exempt income, credits and incentives 4.5 % (5.9) % (2.1) % Foreign rate differential adjusted for U.S. taxation of foreign profits (1) (0.9) % (2.6) % 0.1 % Stock-based compensation (0.2) % 2.3 % (0.3) % Goodwill impairment (29.1) % — % — % Other 0.1 % 0.2 % 0.3 % Effective Income Tax Rate 3.6 % 25.4 % 21.8 % _____________ (1) The “U.S. taxation of foreign profits” represents the U.S. tax, net of foreign tax credits, associated with actual and deemed repatriations of earnings from our non-U.S. subsidiaries.
Schedule of allocation of income tax expense (benefit)	Total income tax expense (benefit) was allocated to the following items: Year Ended December 31, 2021 2020 2019 Pre-tax (loss) income $ (17) $ 64 $ 179 Discontinued operations (1) — — 95 Common shareholders' equity: Changes in defined benefit plans 143 43 (55) Cash flow hedges (1) 1 (1) Translation adjustments (4) (3) 8 Retained Earnings — — — Total Income Tax Expense $ 121 $ 105 $ 226 _____________
Schedule of unrecognized tax benefits rollforward	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2021 2020 2019 Balance at January 1 $ 115 $ 127 $ 108 Additions related to current year 7 3 42 Additions related to prior years positions — 8 17 Reductions related to prior years positions (14) (10) (36) Settlements with taxing authorities (1) 7 (8) (1) Reductions related to lapse of statute of limitations (7) (7) (3) Currency (1) 2 — Balance at December 31 $ 107 $ 115 $ 127 _____________
Schedule of deferred tax assets and liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred taxes were as follows: December 31, 2021 2020 Deferred Tax Assets Research and development $ 185 $ 150 Post-retirement medical benefits 78 94 Net operating losses 363 377 Operating reserves, accruals and deferrals 133 124 Tax credit carryforwards 143 249 Deferred and share-based compensation 24 13 Pension 7 211 Depreciation 31 35 Operating lease liabilities 62 82 Other 36 44 Subtotal 1,062 1,379 Valuation allowance (357) (396) Total $ 705 $ 983 Deferred Tax Liabilities Finance lease and installment sales $ 61 $ 247 Intangibles and goodwill 122 140 Unremitted earnings of foreign subsidiaries 31 31 Operating lease ROU assets 58 76 Other 22 16 Total $ 294 $ 510 Total Deferred Taxes, Net $ 411 $ 473 Reconciliation to the Consolidated Balance Sheets Deferred tax assets $ 519 $ 508 Deferred tax liabilities (1) (108) (35) Total Deferred Taxes, Net $ 411 $ 473 _____________ (1) Represents the deferred tax liabilities recorded in Other long-term liabilities - refer to Note 15 - Supplementary Financial Information.

Contingencies and Litigation (T

Contingencies and Litigation (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of loss contingencies by contingency	Below is a summary of our Brazilian tax contingencies: December 31, December 31, Tax contingency - unreserved $ 292 $ 355 Escrow cash deposits 32 39 Surety bonds 96 112 Letters of credit 74 78 Liens on Brazilian assets — —

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Schedule of treasury stock by class	The following provides cumulative information relating to Xerox Holdings Corporation's current share repurchase program from its inception in October 2021 through December 31, 2021 (shares in thousands): Authorized share repurchase program $ 500 Share repurchase cost $ 387 Share repurchase fees $ 1 Number of shares repurchased 19,401
Schedule of common and treasury stock changes	The following table reflects the changes in Common and Treasury stock shares (shares in thousands). The Treasury stock repurchases in the table below include the repurchases under both the prior Xerox Corporation authorized share repurchase program and the current Xerox Holdings Corporation authorized share repurchase program. Common Stock Shares Treasury Stock Shares Balance at December 31, 2018 231,690 2,067 Stock based compensation plans, net 1,310 — Acquisition of Treasury stock — 18,343 Cancellation of Treasury stock (18,379) (18,379) Balance at December 31, 2019 214,621 2,031 Stock based compensation plans, net 1,390 — Acquisition of Treasury stock — 15,594 Cancellation of Treasury stock (17,625) (17,625) Balance at December 31, 2020 198,386 — Stock based compensation plans, net 1,206 — Acquisition of Treasury stock — 40,198 Cancellation of Treasury stock (31,523) (31,523) Balance at December 31, 2021 168,069 8,675

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense, tax effect	Stock-based compensation expense was as follows: Year Ended December 31, 2021 2020 2019 Stock-based compensation expense, pre-tax $ 54 $ 42 $ 50 Income tax benefit recognized in earnings 13 11 13
Schedule of stock-based payment award valuation assumptions, performance shares, market-based component table	A summary of Xerox Holdings key valuation input assumptions used in the Monte Carlo simulation relative to awards granted were as follows: 2021 Award 2020 Award 2019 Award 2018 Award Term 3 years 3 years 3 years 3 years Risk-free interest rate (1) 0.20 % 1.60 % 2.51 % 2.39 % Dividend yield (2) 4.66 % 2.80 % 3.97 % 3.24 % Volatility (3) 44.76 % 29.49 % 32.95 % 29.12 % Weighted average fair value (4) $ 25.80 $ 41.28 $ 16.27 $ 32.01 ____________ (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 our three-month average stock price as of the valuation date, annualized and continuously compounded. (3) Volatility is derived from historical stock prices as well as implied volatility when appropriate and available. (4) The weighted average of fair values used to record compensation expense as determined by the Monte Carlo simulation.
Schedule of Absolute Share Price and TSR Payout, as a Percentage, Comparison to Targets	Our Absolute Share Price metric is compared against total return targets to determine the payout as follows: Payout as a Percent of Target 2021 Total Return Targets (1) 2020 Total Return Targets (1) 2019 Total Return Targets (1) 200% $33.00 and above $45.00 and above $40.00 and above 100% $ 30.00 $ 40.00 $ 35.00 50% $ 27.00 $ 37.00 $ 30.00 0% Below $27.00 Below $37.00 Below $30.00 Our 2018 TSR metric compared to the peer group TSR will determine the payout as follows: Payout as a Percent of Target Percentile (1) 200% 80th and above 100% 50th 35% 25th 0% Below 25th ____________ (1) For performance between the levels described above, the degree of vesting is interpolated on a linear basis.
Schedule of share-based payment award, stock options, valuation assumptions	Xerox Holdings weighted average assumptions used in the BS option-pricing model relative to SO awards were as follows: 2018 Award Expected term (1) 6.13 years Expected volatility (2) 27.25 % Expected dividend yield (3) 3.25 % Risk-free interest rate (4) 2.63 % Weighted average fair value (5) $5.71 ____________ (1) Since these SO grants were effectively part of a new program, the expected term was calculated using the "Simplified Method” under the SEC guidance based on the SOs vesting schedule and contractual term. We did not have sufficient historical exercise data to provide a reasonable basis to estimate an expected term. (2) The expected volatility was calculated based on a combination of term-matched historical volatility and implied volatility from traded options. (3) The dividend yield was calculated as the expected quarterly dividend divided by our three-month average stock price as of the grant date. (4) The risk-free interest rate was based on the zero-coupon U.S. Treasury yield curve with a maturity matched to the expected term of the SOs.
Schedule of share-based compensation arrangements by share-based payment award	Summary of Stock-based Compensation Activity 2021 2020 2019 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value (1) Shares Weighted Average Grant Date Fair Value (1) Restricted Stock Units (2) Outstanding at January 1 3,187 $ 26.48 2,845 $ 26.87 3,559 $ 29.51 Granted 1,513 23.37 2,028 27.85 1,366 23.22 Vested (1,327) 26.07 (1,473) 28.85 (1,666) 29.28 Forfeited (212) 25.06 (213) 28.39 (414) 27.85 Outstanding at December 31 3,161 25.26 3,187 26.48 2,845 26.87 Performance Shares Outstanding at January 1 2,425 $ 26.67 2,830 $ 24.99 2,462 $ 29.83 Granted (3) 1,195 24.67 901 37.59 1,433 19.46 Vested (672) 28.08 (993) 31.94 (633) 29.56 Forfeited/Expired (130) 26.92 (313) 26.22 (432) 27.50 Outstanding at December 31 2,818 25.47 2,425 26.67 2,830 24.99 Stock Options Outstanding at January 1 799 $ 27.81 861 $ 27.83 1,022 $ 27.84 Granted — — — — — — Forfeited/Expired (187) 27.97 (60) 27.98 (92) 27.92 Exercised — — (2) 27.98 (69) 27.98 Outstanding at December 31 612 27.77 799 27.81 861 27.83 Exercisable at December 31 612 27.77 470 27.84 233 27.83 ____________ (1) Weighted average exercise price for stock options. (2) Includes a 2018 Restricted Stock Award (RSA) grant of 351 shares with a corresponding grant date fair value of $28.51, which vested in 2019. (3) Includes 60 shares associated with the over-performance of our 2018 PSU grant.
Schedule of unrecognized compensation cost, nonvested awards	Unrecognized compensation cost related to non-vested stock-based awards at December 31, 2021 was as follows: Awards Unrecognized Compensation Remaining Weighted-Average Vesting Period (Years) Restricted Stock Units $ 40 1.47 Performance Shares 13 1.7 Total $ 53
Schedule of aggregate intrinsic value restricted stock and performance shares compensation awards	The aggregate intrinsic value of outstanding stock-based awards was as follows: Awards December 31, 2021 Restricted Stock Units $ 72 Performance Shares 64 Stock Options (1) — ____________ (1) Strike price greater than Xerox Holdings Corporation Stock price at December 31, 2021, therefore, intrinsic value is considered to be $0.
Schedule of vested and exercised stock based awards total intrinsic value and tax benefit realized	The intrinsic value and actual tax benefit realized for all vested and exercised stock-based awards was as follows: December 31, 2021 December 31, 2020 December 31, 2019 Awards Total Intrinsic Value Cash Received Tax Benefit Total Intrinsic Value Cash Received Tax Benefit Total Intrinsic Value (1) Cash Received Tax Benefit Restricted Stock Units $ 30 $ — $ 5 $ 33 $ — $ 5 $ 55 $ — $ 11 Performance Share Units 17 — 2 18 — 4 23 — 6 Stock Options — — — — — — 1 2 — ____________

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of amounts recognized in other comprehensive income (loss)	Other Comprehensive Income (Loss) is comprised of the following: Year Ended December 31, 2021 2020 2019 Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax Translation Adjustments (Losses) Gains Aggregates adjustment in period $ (145) $ (141) $ 238 $ 241 $ 53 $ 45 Divestiture - reclassification — — — — 17 17 Net Translation Adjustments (Losses) Gains (145) (141) 238 241 70 62 Unrealized Gains (Losses) Changes in fair value of cash flow hedges (losses) gains (12) (9) 4 3 2 1 Changes in cash flow hedges reclassed to earnings (1) 7 5 1 1 (9) (7) Net Unrealized (Losses) Gains (5) (4) 5 4 (7) (6) Defined Benefit Plans Gains (Losses) Net actuarial/prior service gains (losses) 537 409 117 86 (275) (202) Prior service amortization/curtailment (2) (72) (54) (80) (60) (81) (61) Actuarial loss amortization/settlement (2) 132 99 138 104 156 118 Fuji Xerox changes in defined benefit plans, net (3) — — — — 8 8 Other (losses) gains (4) 35 35 (63) (61) (21) (21) Divestiture - reclassification — — — — 148 148 Changes in Defined Benefit Plans Gains (Losses) 632 489 112 69 (65) (10) Other Comprehensive Income (Loss) Attributable to Xerox Holdings/Xerox $ 482 $ 344 $ 355 $ 314 $ (2) $ 46 _____________ (1) Reclassified to Cost of sales - refer to Note 17 - Financial Instruments for additional information regarding our cash flow hedges. (2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 19 - 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: December 31, 2021 2020 2019 Cumulative translation adjustments $ (1,861) $ (1,720) $ (1,961) Other unrealized (losses) gains, net (2) 2 (2) Benefit plans net actuarial losses and prior service credits (1,125) (1,614) (1,683) Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox $ (2,988) $ (3,332) $ (3,646)

(Loss) Earnings per Share (Tabl

(Loss) Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2021
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 Xerox Holdings Corporation's Common stock (shares in thousands): Year Ended December 31, 2021 2020 2019 Basic (Loss) Earnings per Share: Net (Loss) Income from continuing operations attributable to Xerox Holdings $ (455) $ 192 $ 648 Accrued dividends on preferred stock (14) (14) (14) Adjusted Net (Loss) income from continuing operations available to common shareholders (469) 178 634 Income from discontinued operations attributable to Xerox Holdings, net of tax — — 705 Adjusted Net (Loss) income available to common shareholders $ (469) $ 178 $ 1,339 Weighted average common shares outstanding 183,168 208,983 221,969 Basic (Loss) Earnings per Share: Continuing operations $ (2.56) $ 0.85 $ 2.86 Discontinued operations — — 3.17 Basic (Loss) Earnings per Share $ (2.56) $ 0.85 $ 6.03 Diluted (Loss) Earnings per Share: Net (Loss) Income from continuing operations attributable to Xerox Holdings $ (455) $ 192 $ 648 Accrued dividends on preferred stock (14) (14) — Adjusted Net (Loss) income from continuing operations available to common shareholders (469) 178 648 Income from discontinued operations attributable to Xerox Holdings, net of tax — — 705 Adjusted Net (Loss) income available to common shareholders $ (469) $ 178 $ 1,353 Weighted average common shares outstanding 183,168 208,983 221,969 Common shares issuable with respect to: Stock options — 15 55 Restricted stock and performance shares — 2,439 4,403 Convertible preferred stock — — 6,742 Adjusted Weighted average common shares outstanding 183,168 211,437 233,169 Diluted (Loss) Earnings per Share: Continuing operations $ (2.56) $ 0.84 $ 2.78 Discontinued operations — — 3.02 Diluted (Loss) Earnings per Share $ (2.56) $ 0.84 $ 5.80 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 (shares in thousands): Stock options 612 784 805 Restricted stock and performance shares 5,979 3,173 1,272 Convertible preferred stock 6,742 6,742 — Total Anti-Dilutive Securities 13,333 10,699 2,077 Dividends per Common Share $ 1.00 $ 1.00 $ 1.00

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2021USD ($)service_offeringcountry	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Nov. 30, 2019
Product Information [Line Items]
Number of countries in which entity operates | country		160
Costs and expenses		$ 7,513	$ 6,770	$ 8,244
Lessor - lease payment deferral period	3 months
Lessor - lease amount deferred	$ 33
Lessor - maximum percentage deferred	1.00%
Economic life of products		5 years
Number of reportable segments | service_offering		1
Number of reporting units | service_offering		1
Goodwill, impairment loss, net of tax		$ 750
Goodwill impairment		$ 781	0	0
Expected return on plan assets period		2 years
Sustaining engineering costs		$ 59	54	62
Accounting Standards Update 2016-02
Product Information [Line Items]
Lessee accounting, increase to leased assets and liabilities				385
Lessee accounting, increase to leased assets and liabilities, undiscounted				440
Lessor accounting - increase to equipment sales				$ 30
Discontinued Operations, Disposed of by Sale | Fuji Xerox Co., Ltd.
Product Information [Line Items]
Ownership percentage (percent)					25.00%
Discontinued Operations, Disposed of by Sale | Xerox International Partners
Product Information [Line Items]
Ownership percentage (percent)					51.00%
CareAR Holdings LLC
Product Information [Line Items]
Direct subsidiary acquisition cost			9
Costs and expenses			$ 1
Minimum
Product Information [Line Items]
Ownership percentage (percent)		20.00%
Average maturity of finance receivables		2 years
Maximum
Product Information [Line Items]
Ownership percentage (percent)		50.00%
Average maturity of finance receivables		3 years
Xerox Ventures LLC
Product Information [Line Items]
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures		$ 8

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Total Revenues	$ 7,038	$ 7,022	$ 9,066
Equipment
Disaggregation of Revenue [Line Items]
Total Revenues	1,581	1,564	2,062
Supplies, paper and other sales
Disaggregation of Revenue [Line Items]
Total Revenues	1,001	885	1,165
Maintenance agreements
Disaggregation of Revenue [Line Items]
Total Revenues	1,787	1,803	2,372
Service arrangements
Disaggregation of Revenue [Line Items]
Total Revenues	1,991	2,014	2,517
Rental and other
Disaggregation of Revenue [Line Items]
Total Revenues	457	530	706
Financing
Disaggregation of Revenue [Line Items]
Total Revenues	221	226	244
Sales
Disaggregation of Revenue [Line Items]
Total Revenues	2,582	2,449	3,227
Sales | Sales channels, direct equipment lease
Disaggregation of Revenue [Line Items]
Total Revenues	664	573	672
Sales | Sales channels, distributors and resellers
Disaggregation of Revenue [Line Items]
Total Revenues	1,130	910	1,343
Sales | Customer direct
Disaggregation of Revenue [Line Items]
Total Revenues	788	966	1,212
United States
Disaggregation of Revenue [Line Items]
Total Revenues	3,982	4,186	5,429
Europe
Disaggregation of Revenue [Line Items]
Total Revenues	2,023	1,883	2,326
Canada
Disaggregation of Revenue [Line Items]
Total Revenues	398	393	518
Other
Disaggregation of Revenue [Line Items]
Total Revenues	$ 635	$ 560	$ 793

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities	$ 144	$ 130
Contract liability amortization period (in months)	30 months
Deferred incremental direct costs, amortization period (in years)	4 years
Customer contract costs, net	$ 132	145
Amortization period of incremental direct costs of obtaining a contract (in years)	4 years
Contract Fulfillment Costs and Inducements
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Capitalized contract costs, deferred	$ 15	13
Amortization of capitalized contract fulfillment and inducement costs	$ 6	$ 4	$ 5

Revenue - Contract Costs (Detai

Revenue - Contract Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Incremental direct costs of obtaining a contract	$ 61	$ 62	$ 78
Amortization of incremental direct costs	$ 73	$ 81	$ 88

Segment and Geographic Area R_3

Segment and Geographic Area Reporting - Revenue and Long-lived Assets by Geography (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)service_offering	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | service_offering	1
Revenues	$ 7,038	$ 7,022	$ 9,066
Long-lived assets	996	1,131
United States
Segment Reporting Information [Line Items]
Revenues	3,982	4,186	5,429
Long-lived assets	638	692
Europe
Segment Reporting Information [Line Items]
Revenues	2,023	1,883	2,326
Long-lived assets	258	312
Canada
Segment Reporting Information [Line Items]
Revenues	398	393	518
Long-lived assets	68	84
Other areas
Segment Reporting Information [Line Items]
Revenues	635	560	$ 793
Long-lived assets	$ 32	$ 43

Lessor - Components of Lease In

Lessor - Components of Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Revenue from sales type leases	$ 664	$ 573	$ 672
Interest income on lease receivables	221	226	244
Lease income - operating leases	246	313	396
Variable lease income	62	66	107
Total Lease income	1,193	1,178	1,419
Profit at lease commencement, sales type leases	$ 221	$ 207	$ 276

Acquisitions and Investments -

Acquisitions and Investments - Schedule of Acquisitions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 3,287	$ 4,071	$ 3,900	$ 3,858
2021 Acquisitions
Business Acquisition [Line Items]
Accounts/finance receivables	5
Goodwill	25
Other assets	4
Total Assets acquired	65
Liabilities assumed	(12)
Total Purchase Price	$ 53
2020 Acquisitions
Business Acquisition [Line Items]
Accounts/finance receivables		20
Goodwill		111
Other assets		44
Total Assets acquired		262
Liabilities assumed		(59)
Total Purchase Price		$ 203
Customer relationships | 2021 Acquisitions
Business Acquisition [Line Items]
Intangible assets, weighted average life (years)	9 years
Intangible assets	$ 27
Customer relationships | 2020 Acquisitions
Business Acquisition [Line Items]
Intangible assets, weighted average life (years)		9 years
Intangible assets		$ 69
Trademarks | 2021 Acquisitions
Business Acquisition [Line Items]
Intangible assets, weighted average life (years)	5 years
Intangible assets	$ 3
Trademarks | 2020 Acquisitions
Business Acquisition [Line Items]
Intangible assets, weighted average life (years)		9 years
Intangible assets		$ 9
Technology | 2021 Acquisitions
Business Acquisition [Line Items]
Intangible assets, weighted average life (years)	3 years
Intangible assets	$ 1
Technology | 2020 Acquisitions
Business Acquisition [Line Items]
Intangible assets, weighted average life (years)		3 years
Intangible assets		$ 9

Acquisitions and Investments _2

Acquisitions and Investments - Narrative (Details) £ in Millions, $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2021USD ($)	Dec. 31, 2021USD ($)acquisition	Dec. 31, 2020USD ($)acquisition	Dec. 31, 2020GBP (£)	Dec. 31, 2020CAD ($)	Dec. 31, 2019USD ($)	Aug. 31, 2021USD ($)
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition			$ 194,000,000
Payments to acquire business		$ 53,000,000	203,000,000			$ 42,000,000
Noncontrolling Interests		10,000,000	0
Xerox Corporation
Schedule of Business Acquisitions, by Acquisition [Line Items]
Payments to acquire business		53,000,000	203,000,000			42,000,000
Payments to acquire interest in joint venture	$ 5,000,000
Noncontrolling Interests		10,000,000	0
Victorian Government Member
Schedule of Business Acquisitions, by Acquisition [Line Items]
Payments to acquire interest in joint venture	$ 5,000,000
Series of Individually Immaterial Business Acquisitions
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition		$ 50,000,000
Business acquisition, percentage of voting interests acquired		100.00%
Equipment Dealer Canada Member
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition		$ 31,000,000
United States Document Solutions Provider
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition		$ 19,000,000
Number of acquisitions | acquisition		2
2021 Acquisitions
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition		$ 3,000,000
Amount expected to be deductible for tax purposes		$ 0
U.K. Acquisitions
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition			$ 172,000,000	£ 133
Number of acquisitions | acquisition			3
Canada Acquisitions
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition			$ 22,000,000		$ 29
CareAR Holdings LLC
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition			$ 9,000,000
Noncontrolling Interests							$ 10,000,000
2020 Acquisitions
Schedule of Business Acquisitions, by Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired			100.00%
Amount expected to be deductible for tax purposes			$ 0
ROA and HBS
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition						38,000,000
2019 Acquisitions
Schedule of Business Acquisitions, by Acquisition [Line Items]
Acquisition						$ 4,000,000
Business acquisition, percentage of voting interests acquired						100.00%

Acquisitions and Investments _3

Acquisitions and Investments - Acquisitions Contributed Aggregate Revenues from Their Respective Acquisition Dates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Asset Acquisition [Line Items]
Total Contributed Aggregate Revenue	$ 173	$ 120	$ 18
2021 Acquisitions
Asset Acquisition [Line Items]
Total Contributed Aggregate Revenue	19	0	0
2020 Acquisitions
Asset Acquisition [Line Items]
Total Contributed Aggregate Revenue	137	99	0
2019 Acquisitions
Asset Acquisition [Line Items]
Total Contributed Aggregate Revenue	$ 17	$ 21	$ 18

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 30, 2019	Dec. 31, 2021	Dec. 31, 2019	Apr. 30, 2021	Dec. 31, 2020	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill		$ 3,287,000,000	$ 3,900,000,000		$ 4,071,000,000	$ 3,858,000,000
Fuji Xerox Co., Ltd.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
License fee received	$ 77,000,000
Continued use of brand trademark, period		2 years
Prepaid royalties		$ 100,000,000		$ 100,000,000
Extended brand license, revenue recognition period		2 years
Lead time on purchase commitment		3 months
Discontinued Operations, Disposed of by Sale | Fuji Xerox Co., Ltd.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage (percent)	25.00%
Proceeds from sale of equity method investments	$ 2,200,000,000
Goodwill	$ 0
Discontinued Operations, Disposed of by Sale | Xerox International Partners
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage (percent)	51.00%
Proceeds from sale of equity method investments	$ 23,000,000
Goodwill	9,000,000
Discontinued Operations, Disposed of by Sale | Fuji Xerox Co., Ltd. and Xerox International Partners, The Sales
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Realized gain (loss) on sale	629,000,000
Realized gain (loss) on sale, after tax	539,000,000
Gain (loss) reclassified from AOCL	165,000,000		$ (165,000,000)
Transaction costs	$ 9,000,000

Divestitures - Discontinued Ope

Divestitures - Discontinued Operation - Income Statement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Revenue			$ 79
Income from operations			176
Gain on disposal			629
Income before income taxes			805
Income tax expense			95
Income from discontinued operations, net of tax	$ 0	$ 0	710
Income from discontinued operations attributable to noncontrolling interests, net of tax	0	0	5
Income from discontinued operations, attributable to Xerox, net of tax	$ 0	$ 0	705
Cost of revenues			44
Other expenses			6
Total Costs and Expenses			50
Depreciation and amortization			0
Restructuring and related costs, net			0
Equity in net income of FX			147
Capital expenditures			$ 0

Accounts Receivable, Net - Summ

Accounts Receivable, Net - Summary (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	$ 818	$ 883
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Provision	$ 12	$ 116	$ 49
Credit Concentration Risk | Accounts Receivable | Customers
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Concentration risk (percentage)	6.60%	7.20%
Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Invoiced	$ 660	$ 735
Accrued	216	217
Allowance for doubtful accounts	(58)	(69)	(55)
Accounts receivable, net	818	883
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	69	55
Provision	8	35
Charge-offs	(18)	(22)
Recoveries and other	(1)	1
Ending balance	$ 58	$ 69	$ 55

Accounts Receivable, Net - Acco

Accounts Receivable, Net - Accounts Receivable Sales Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Uncollected accounts receivable sold and derecognized	$ 102	$ 136
Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable sales	$ 478	$ 333	$ 393

Finance Receivables, Net - Fina

Finance Receivables, Net - Finance Receivables and Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, after Allowance for Credit Loss [Abstract]
Gross receivables	$ 3,568	$ 3,691
Unearned income	(380)	(393)
Subtotal	3,188	3,298
Residual values	0	0
Allowance for doubtful accounts	(118)	(133)	$ (89)
Finance Receivables, Net	3,070	3,165
Less: Billed portion of finance receivables, net	94	99
Less: Current portion of finance receivables not billed, net	1,042	1,082
Finance receivables due after one year, net	1,934	1,984
12 Months	1,357	1,426
24 Months	972	1,006
36 Months	668	697
48 Months	396	395
60 Months	157	152
Thereafter	18	15
Total	$ 3,568	$ 3,691

Finance Receivables, Net - Allo

Finance Receivables, Net - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision	$ (1)	$ 81
Allowance for loan and lease losses,	31	60
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	133	89
Provision	(1)	81
Charge-offs	(16)	(42)
Recoveries and other	2	5
Allowance for credit loss, end of period	118	133
Finance receivables collectively evaluated for impairment	$ 3,188	$ 3,298
United States, Canada and EMEA | Credit Concentration Risk | Finance Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Concentration risk (percentage)	3.70%	4.00%
United States
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision	$ 5	$ 41
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	77	59
Provision	5	41
Charge-offs	(7)	(23)
Recoveries and other	2	0
Allowance for credit loss, end of period	77	77
Finance receivables collectively evaluated for impairment	1,876	1,823
Canada
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision	(3)	8
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	15	10
Provision	(3)	8
Charge-offs	(3)	(5)
Recoveries and other	2	2
Allowance for credit loss, end of period	11	15
Finance receivables collectively evaluated for impairment	251	297
Europe
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision	(3)	32
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit loss, beginning of period	41	20
Provision	(3)	32
Charge-offs	(6)	(14)
Recoveries and other	(2)	3
Allowance for credit loss, end of period	30	41
Finance receivables collectively evaluated for impairment	$ 1,061	$ 1,178

Finance Receivables, Net - Fi_2

Finance Receivables, Net - Finance Receivables Credit Quality Indicators (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Loss rates of customers with low risk credit quality (percentage)	1.00%
Loss rates of customers with average credit risk credit quality, low range (percentage)	2.00%
Loss rates of customers with average credit risk credit quality, high range (percentage)	5.00%
Loss rates of customers with high credit risk credit quality, low range (percentage)	7.00%
Loss rates of customers with high credit risk credit quality, high range (percentage)	10.00%
2021	$ 1,236	$ 1,140
2020	837	1,005
2019	642	680
2018	346	337
2017	110	116
Prior	17	20
Total Finance Receivables	3,188	3,298
United States
Financing Receivable, Credit Quality Indicator [Line Items]
Total Finance Receivables	1,876	1,823
Canada
Financing Receivable, Credit Quality Indicator [Line Items]
2021	74	101
2020	73	83
2019	56	60
2018	33	37
2017	13	14
Prior	2	2
Total Finance Receivables	251	297
Europe
Financing Receivable, Credit Quality Indicator [Line Items]
2021	403	390
2020	267	361
2019	218	254
2018	124	123
2017	40	41
Prior	9	9
Total Finance Receivables	1,061	1,178
Low Credit Risk
Financing Receivable, Credit Quality Indicator [Line Items]
2021	644	591
2020	436	502
2019	341	362
2018	195	176
2017	57	64
Prior	10	9
Total Finance Receivables	1,683	1,704
Low Credit Risk | Canada
Financing Receivable, Credit Quality Indicator [Line Items]
2021	32	37
2020	27	34
2019	22	24
2018	13	10
2017	3	5
Prior	1	1
Total Finance Receivables	98	111
Low Credit Risk | Europe
Financing Receivable, Credit Quality Indicator [Line Items]
2021	229	197
2020	143	177
2019	121	131
2018	71	62
2017	22	20
Prior	6	4
Total Finance Receivables	592	591
Average Credit Risk
Financing Receivable, Credit Quality Indicator [Line Items]
2021	451	399
2020	286	418
2019	242	257
2018	118	125
2017	39	39
Prior	6	7
Total Finance Receivables	1,142	1,245
Average Credit Risk | Canada
Financing Receivable, Credit Quality Indicator [Line Items]
2021	34	46
2020	34	39
2019	27	26
2018	15	17
2017	6	6
Prior	1	1
Total Finance Receivables	117	135
Average Credit Risk | Europe
Financing Receivable, Credit Quality Indicator [Line Items]
2021	156	170
2020	109	160
2019	84	108
2018	45	51
2017	15	17
Prior	3	4
Total Finance Receivables	412	510
High Credit Risk
Financing Receivable, Credit Quality Indicator [Line Items]
2021	141	150
2020	115	85
2019	59	61
2018	33	36
2017	14	13
Prior	1	4
Total Finance Receivables	363	349
High Credit Risk | Canada
Financing Receivable, Credit Quality Indicator [Line Items]
2021	8	18
2020	12	10
2019	7	10
2018	5	10
2017	4	3
Prior	0	0
Total Finance Receivables	36	51
High Credit Risk | Europe
Financing Receivable, Credit Quality Indicator [Line Items]
2021	18	23
2020	15	24
2019	13	15
2018	8	10
2017	3	4
Prior	0	1
Total Finance Receivables	57	77
Direct
Financing Receivable, Credit Quality Indicator [Line Items]
Total Finance Receivables	867	967
Direct | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	299	308
2020	234	288
2019	186	207
2018	107	110
2017	35	45
Prior	6	9
Total Finance Receivables	867	967
Direct | Low Credit Risk | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	148	164
2020	121	151
2019	98	128
2018	68	71
2017	21	32
Prior	3	4
Total Finance Receivables	459	550
Direct | Average Credit Risk | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	60	54
2020	40	95
2019	57	52
2018	23	26
2017	8	8
Prior	2	2
Total Finance Receivables	190	237
Direct | High Credit Risk | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	91	90
2020	73	42
2019	31	27
2018	16	13
2017	6	5
Prior	1	3
Total Finance Receivables	218	180
Indirect
Financing Receivable, Credit Quality Indicator [Line Items]
Total Finance Receivables	1,009	856
Indirect | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	460	341
2020	263	273
2019	182	159
2018	82	67
2017	22	16
Prior	0	0
Total Finance Receivables	1,009	856
Indirect | Low Credit Risk | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	235	193
2020	145	140
2019	100	79
2018	43	33
2017	11	7
Prior	0	0
Total Finance Receivables	534	452
Indirect | Average Credit Risk | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	201	129
2020	103	124
2019	74	71
2018	35	31
2017	10	8
Prior	0	0
Total Finance Receivables	423	363
Indirect | High Credit Risk | United States
Financing Receivable, Credit Quality Indicator [Line Items]
2021	24	19
2020	15	9
2019	8	9
2018	4	3
2017	1	1
Prior	0	0
Total Finance Receivables	$ 52	$ 41

Finance Receivables, Net - Fi_3

Finance Receivables, Net - Finance Receivables Aging Schedule (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	$ 3,188	$ 3,298
Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	98	103
Unbilled
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	3,090	3,195
United States
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1,876	1,823
United States | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	79	76
United States | Unbilled
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1,797	1,747
Canada
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	251	297
Canada | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	7	10
Canada | Unbilled
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	244	287
Total Europe
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1,061	1,178
Total Europe | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	12	17
Total Europe | Unbilled
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1,049	1,161
Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	71	74
Current | United States | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	56	54
Current | Canada | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	6	8
Current | Total Europe | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	9	12
31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	15	15
31-90 Days Past Due | United States | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	12	10
31-90 Days Past Due | Canada | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1	2
31-90 Days Past Due | Total Europe | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	2	3
>90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	12	14
>90 Days Past Due | United States | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	11	12
>90 Days Past Due | Canada | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	0	0
>90 Days Past Due | Total Europe | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1	2
>90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Financing receivable, 90 days or more past due, still accruing	83	109
>90 Days and Accruing | United States
Financing Receivable, Past Due [Line Items]
Financing receivable, 90 days or more past due, still accruing	61	74
>90 Days and Accruing | Canada
Financing Receivable, Past Due [Line Items]
Financing receivable, 90 days or more past due, still accruing	9	12
>90 Days and Accruing | Total Europe
Financing Receivable, Past Due [Line Items]
Financing receivable, 90 days or more past due, still accruing	13	23
Direct
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	867	967
Direct | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	42	48
Direct | Unbilled
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	825	919
Direct | United States
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	867	967
Direct | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	28	33
Direct | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	7	6
Direct | >90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	7	9
Direct | >90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Financing receivable, 90 days or more past due, still accruing	61	74
Indirect
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1,009	856
Indirect | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	37	28
Indirect | Unbilled
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	972	828
Indirect | United States
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	1,009	856
Indirect | Current | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	28	21
Indirect | 31-90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	5	4
Indirect | >90 Days Past Due | Billed Revenues
Financing Receivable, Past Due [Line Items]
Total Finance Receivables	4	3
Indirect | >90 Days and Accruing
Financing Receivable, Past Due [Line Items]
Financing receivable, 90 days or more past due, still accruing	$ 0	$ 0

Finance Receivables, Net - Secu

Finance Receivables, Net - Secured Borrowings and Collateral (Details) - USD ($) $ in Millions	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance receivables, net	$ 3,070		$ 3,165
Special Purpose Entity (SPE) | Secured Borrowing - July 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance receivables, net	308
Special Purpose Entity (SPE) | Secured Borrowing - December 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance receivables, net	$ 380
Special Purpose Entity (SPE)
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivables sold		$ 331	$ 610

Inventories and Equipment on _3

Inventories and Equipment on Operating Leases, Net - Summary of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventories, net [Abstract]
Finished goods	$ 568	$ 707
Work-in-process	43	43
Raw materials	85	93
Total Inventories	$ 696	$ 843

Inventories and Equipment on _4

Inventories and Equipment on Operating Leases, Net - Equipment on Operating Leases and Accumulated Depreciation (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventories and Equipment on Operating Leases, Net [Abstract]
Equipment on operating leases	$ 1,266	$ 1,376
Accumulated depreciation	(1,013)	(1,080)
Equipment on operating leases, net	$ 253	$ 296

Inventories and Equipment on _5

Inventories and Equipment on Operating Leases, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2021
Equipment on Operating Leases, Net [Line Items]
Contingent rental revenue on operating leases	$ 62	$ 66	$ 107
Special Purpose Entity (SPE)
Equipment on Operating Leases, Net [Line Items]
Equipment on operating leases, net	$ 8	$ 8
Special Purpose Entity (SPE)
Equipment on Operating Leases, Net [Line Items]
Net book value of rights to payments under operating leases sold				$ 9
Minimum
Equipment on Operating Leases, Net [Line Items]
Equipment on operating lease depreciable lives	4 years
Maximum
Equipment on Operating Leases, Net [Line Items]
Equipment on operating lease depreciable lives	5 years

Inventories and Equipment on _6

Inventories and Equipment on Operating Leases, Net - Estimated Minimum Future Revenues Operating Leases (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventories and Equipment on Operating Leases, Net [Abstract]
12 months	$ 202	$ 215
24 months	110	129
36 months	61	74
48 months	32	32
60 months	10	12
Thereafter	2	1
Total	$ 417	$ 463

Land, Buildings, Equipment an_3

Land, Buildings, Equipment and Software, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Land, Building and Equipment, net [Line Items]
Subtotal	$ 2,545	$ 2,638
Accumulated depreciation	(2,187)	(2,231)
Land, buildings and equipment, net	358	407
Depreciation expense	76	87	$ 101
Finance lease, right-of-use asset	9	10
Land
Land, Building and Equipment, net [Line Items]
Subtotal	9	13
Building and building equipment
Land, Building and Equipment, net [Line Items]
Subtotal	777	814
Leasehold improvements
Land, Building and Equipment, net [Line Items]
Subtotal	112	124
Plant machinery
Land, Building and Equipment, net [Line Items]
Subtotal	1,098	1,149
Office furniture and equipment
Land, Building and Equipment, net [Line Items]
Subtotal	475	476
Finance leases
Land, Building and Equipment, net [Line Items]
Subtotal	13	13
Other
Land, Building and Equipment, net [Line Items]
Subtotal	44	32
Construction in progress
Land, Building and Equipment, net [Line Items]
Subtotal	$ 17	$ 17
Minimum
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	4 years
Minimum | Building and building equipment
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	25 years
Minimum | Leasehold improvements
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	1 year
Minimum | Plant machinery
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	5 years
Minimum | Office furniture and equipment
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	3 years
Minimum | Finance leases
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	1 year
Minimum | Other
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	4 years
Maximum
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	5 years
Maximum | Building and building equipment
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	50 years
Maximum | Leasehold improvements
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	12 years
Maximum | Plant machinery
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	12 years
Maximum | Office furniture and equipment
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	15 years
Maximum | Finance leases
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	12 years
Maximum | Other
Land, Building and Equipment, net [Line Items]
Estimated Useful Lives (Years)	20 years

Land, Buildings, Equipment an_4

Land, Buildings, Equipment and Software, Net - Internal Use Software (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Land, Buildings, Equipment and Software [Abstract]
Internal use software, net	$ 120	$ 118
Internal use, useful lives, minimum, years	3 years
Internal use, useful lives, maximum, years	7 years

Lessee - Additional Information

Lessee - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Remaining terms of leases	11 years
Finance lease maturity	9 years
Remaining lease obligation	$ 7	$ 9
Finance leases, discount rate	4.51%	4.34%
Finance lease, right-of-use asset	$ 9	$ 10
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Land, buildings and equipment, net	Land, buildings and equipment, net

Lessee - Components of Lease Ex

Lessee - Components of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 104	$ 113	$ 125
Short-term lease expense	20	20	21
Variable lease expense	48	47	48
Sublease income	(4)	(2)	(1)
Total Lease expense	$ 168	$ 178	$ 193

Lessee - Operating Lease ROU As

Lessee - Operating Lease ROU Asset, Net and Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 264	$ 310
Operating lease obligations	79	83
Operating lease obligations	204	250
Total Operating lease liabilities	$ 283	$ 333
Operating lease, right-of-use asset, statement of financial position [Extensible List]	Other long-term assets	Other long-term assets
Operating lease, liability, current, statement of financial position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating lease, liability, noncurrent, statement of financial position [Extensible List]	Other long-term liabilities	Other long-term liabilities

Lessee - Supplemental Informati

Lessee - Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities - Operating cash flows	$ 109	$ 119	$ 126
Right-of-use assets obtained in exchange for new lease liabilities	$ 41	$ 76	$ 75
Weighted-average remaining lease term (years)	5 years	5 years	4 years
Weighted-average discount rate (percentage)	4.67%	5.03%	5.47%

Lessee - Maturities and Additio

Lessee - Maturities and Additional Information Related to Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
12 months	$ 98	$ 104
24 months	78	88
36 months	45	68
48 months	31	37
60 months	26	25
Thereafter	35	52
Total Lease payments	313	374
Less: Imputed interest	30	41
Total Operating lease liabilities	$ 283	$ 333

Investment in Affiliates, at _3

Investment in Affiliates, at Equity - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2019
Schedule of Equity Method Investments [Line Items]
Total Equity in net income of unconsolidated affiliates	$ 3	$ 4	$ 8
Fuji Xerox
Schedule of Equity Method Investments [Line Items]
Ownership percentage (percent)				25.00%
Total Equity in net income of unconsolidated affiliates	0	0	147
Dividends received from Fuji Xerox			69
Other
Schedule of Equity Method Investments [Line Items]
Ownership interest	45	47
Total Equity in net income of unconsolidated affiliates	3	4	8
Fuji Xerox And Other
Schedule of Equity Method Investments [Line Items]
Total Equity in net income of unconsolidated affiliates	$ 3	$ 4	$ 155

Investment in Affiliates, at _4

Investment in Affiliates, at Equity - Condensed Financial Data for Fuji Xerox Unconsolidated Affiliate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Revenues	$ 7,038	$ 7,022	$ 9,066
Costs and expenses	7,513	6,770	8,244
Income tax expense	(17)	64	179
Net (Loss) Income	(455)	192	1,361
Less: Net income - noncontrolling interests	0	0	3
Net (Loss) Income Attributable to Xerox Holdings	$ (455)	$ 192	1,353
Fuji Xerox
Schedule of Equity Method Investments [Line Items]
Revenues			7,667
Costs and expenses			6,814
Income before income taxes			853
Income tax expense			258
Net (Loss) Income			595
Less: Net income - noncontrolling interests			3
Net (Loss) Income Attributable to Xerox Holdings			$ 592

Investment in Affiliates, at _5

Investment in Affiliates, at Equity - Investment in Affiliate Exchange Rates (Details)	12 Months Ended
	Dec. 31, 2019
Fuji Xerox
Schedule of Equity Method Investments [Line Items]
Summary of operations, weighted average rate	109.03

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning balance, goodwill	$ 4,071	$ 3,900	$ 3,858
Foreign currency translation	(23)	60	28
Acquisitions			14
Goodwill impairment	(781)	0	0
Ending balance, goodwill	3,287	4,071	3,900
Goodwill, impairment loss, net of tax	750
Goodwill impairment	781	0	$ 0
U.K. Acquisitions
Goodwill [Roll Forward]
Acquisitions		98
U.S. Acquisitions
Goodwill [Roll Forward]
Acquisitions	9
Canada Acquisition
Goodwill [Roll Forward]
Acquisitions	16	10
Goodwill impairment
Goodwill [Roll Forward]
Goodwill impairment	(781)
Goodwill impairment	781
Other
Goodwill [Roll Forward]
Other	$ (5)	$ 3

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Intangible Assets Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 586	$ 572
Accumulated Amortization	375	335
Net Amount	211	237
Amortization of acquired intangible assets	55	56	$ 45
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022	43
2023	40
2024	38
2025	33
2026	$ 33
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization	10 years
Gross Carrying Amount	$ 211	185
Accumulated Amortization	95	74
Net Amount	$ 116	111
Distribution network
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization	25 years
Gross Carrying Amount	$ 123	123
Accumulated Amortization	108	103
Net Amount	$ 15	20
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization	19 years
Gross Carrying Amount	$ 237	235
Accumulated Amortization	164	138
Net Amount	$ 73	97
Technology and non-compete
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization	3 years
Gross Carrying Amount	$ 15	29
Accumulated Amortization	8	20
Net Amount	$ 7	$ 9

Restructuring Programs (Details

Restructuring Programs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring reserve [Roll Forward]
Balance at beginning of period	$ 82	$ 70	$ 95
Restructuring provision	48	116	161
Reversals of prior charges	(21)	(29)	(34)
Net Current Period Charges	27	87	127
Charges against reserve and currency	(82)	(75)	(152)
Balance at end of period	27	82	70
Reconciliation to the Condensed Consolidated Statements of Cash Flows [Abstract]
Charges against reserve and currency	(82)	(75)	(152)
Asset impairments	13	0	56
Effects of foreign currency and other non-cash items	(3)	(6)	3
Payments for restructurings	(72)	(81)	(93)
Land
Restructuring reserve [Roll Forward]
Gain on sale of surplus land	4
Severance and Related Costs
Restructuring reserve [Roll Forward]
Balance at beginning of period	78	66	94
Restructuring provision	30	107	81
Reversals of prior charges	(13)	(21)	(24)
Net Current Period Charges	17	86	57
Charges against reserve and currency	(70)	(74)	(85)
Balance at end of period	25	78	66
Reconciliation to the Condensed Consolidated Statements of Cash Flows [Abstract]
Charges against reserve and currency	(70)	(74)	(85)
Other Contractual Termination Costs
Restructuring reserve [Roll Forward]
Balance at beginning of period	4	4	1
Restructuring provision	3	3	19
Reversals of prior charges	(6)	(2)	(5)
Net Current Period Charges	(3)	1	14
Charges against reserve and currency	1	(1)	(11)
Balance at end of period	2	4	4
Reconciliation to the Condensed Consolidated Statements of Cash Flows [Abstract]
Charges against reserve and currency	1	(1)	(11)
Asset Impairments
Restructuring reserve [Roll Forward]
Balance at beginning of period	0	0	0
Restructuring provision	15	6	61
Reversals of prior charges	(2)	(6)	(5)
Net Current Period Charges	13	0	56
Charges against reserve and currency	(13)	0	(56)
Balance at end of period	0	0	0
Write-off of leased right-of-use assets	3	4	39
Write-off of owned assets	12	2	22
Reconciliation to the Condensed Consolidated Statements of Cash Flows [Abstract]
Charges against reserve and currency	$ (13)	$ 0	$ (56)

Restructuring Programs - Restru

Restructuring Programs - Restructuring and Related Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)employee
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	$ 11	$ 6	$ 102
H C L Technologies
Restructuring Cost and Reserve [Line Items]
Number of employees transferred | employee			2,200
Retention related severance/bonuses
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	6	4	$ 39
Contractual severance costs
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	1	(2)	43
Contractual severance costs | H C L Technologies
Restructuring Cost and Reserve [Line Items]
Related restructuring costs			38
Consulting and other costs
Restructuring Cost and Reserve [Line Items]
Related restructuring costs	$ 4	$ 4	$ 20

Restructuring Programs - Narrat

Restructuring Programs - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring and Related Activities [Abstract]
Cash payments for restructuring related costs	$ 13	$ 26	$ 65
Restructuring related costs	$ 18	$ 21

Supplementary Financial Infor_3

Supplementary Financial Information - Components of Other Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Other Current Assets
Total Other Current Assets	$ 211	$ 251
Other Long-term Assets
Internal use software, net	120	118
Customer contract costs, net	132	145
Operating lease right-of-use assets	264	310
Total Other Long-term Assets(2)	1,960	1,455
Accrued Expenses and Other Current Liabilities
Operating lease obligations	79	83
Restructuring related costs	18	21
Total Accrued Expenses and Other Current Liabilities	871	840
Other Long-term Liabilities
Operating lease obligations	204	250
Total Other Long-term Liabilities	481	497
Xerox Corporation
Other Current Assets
Total Other Current Assets	211	251
Other Long-term Assets
Total Other Long-term Assets(2)	1,952	1,455
Accrued Expenses and Other Current Liabilities
Interest payable		32
Dividends payable	48	59
Total Accrued Expenses and Other Current Liabilities	823	749
Other Long-term Liabilities
Total Other Long-term Liabilities	481	497
Other Current Assets
Other Current Assets
Income taxes receivable	11	29
Royalties, license fees and software maintenance	23	21
Restricted cash	33	23
Prepaid expenses	30	31
Advances and deposits	32	34
Other	82	113
Other Long-term Assets
Other Long-term Assets
Income taxes receivable	8	7
Prepaid pension costs	1,211	617
Internal use software, net	120	118
Restricted cash	36	43
Customer contract costs, net	147	158
Operating lease right-of-use assets	264	310
Deferred compensation plan investments	18	18
Investments in affiliates, at equity	45	47
Investments at cost - Xerox Holdings	8	0
Other	103	137
Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities
Income taxes payable	30	7
Other taxes payable	69	68
Operating lease obligations	79	83
Financing lease obligations	2	2
Interest payable	53	56
Restructuring reserves	26	82
Restructuring related costs	18	21
Product warranties	5	5
Dividends payable	48	59
Distributor and reseller rebates/commissions	112	123
Unearned income and other revenue deferrals	194	140
Administration and overhead	57	52
Other	178	142
Other Long-term Liabilities
Other Long-term Liabilities
Deferred taxes	108	35
Income taxes payable	40	57
Operating lease obligations	204	250
Finance lease obligations	5	7
Environmental reserves	9	9
Restructuring reserves	1	2
Other	$ 114	$ 137

Supplementary Financial Infor_4

Supplementary Financial Information - Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Financial Information [Abstract]
Cash and cash equivalents	$ 1,840	$ 2,625
Litigation deposits in Brazil	34	42
Escrow and cash collections related to secured borrowing arrangements	32	22
Other restricted cash	3	2
Total Restricted Cash	69	66
Cash, cash equivalents and restricted cash	$ 1,909	$ 2,691	$ 2,795	$ 1,148

Supplementary Financial Infor_5

Supplementary Financial Information - Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Supplemental Financial Information [Line Items]
Total Restricted Cash	$ 69	$ 66
Other Current Assets
Supplemental Financial Information [Line Items]
Restricted cash	33	23
Other Long-term Assets
Supplemental Financial Information [Line Items]
Restricted cash	$ 36	$ 43

Supplementary Financial Infor_6

Supplementary Financial Information - Pension and Other Benefit Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Supplemental Financial Information [Line Items]
Accrued compensation liabilities	$ 66	$ 70
Deferred compensation liabilities	22	22
Pension and other benefit liabilities	1,373	1,566
Pension Plan
Supplemental Financial Information [Line Items]
Pension liabilities	1,285	1,474
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring
Supplemental Financial Information [Line Items]
Financial liabilities, fair value	29	22
Deferred compensation liabilities | Significant Other Observable Inputs (Level 2) | Fair Value, Recurring
Supplemental Financial Information [Line Items]
Financial liabilities, fair value	$ 18	$ 17

Supplementary Financial Infor_7

Supplementary Financial Information - Summarized Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental Financial Information [Abstract]
Provision for receivables	$ 12	$ 116	$ 49
Provision for inventories	34	31	24
Provision for product warranties	8	8	12
Depreciation of buildings and equipment	76	87	101
Depreciation and obsolescence of equipment on operating leases	155	183	225
Amortization of internal use software	41	42	59
Amortization of acquired intangible assets	55	56	45
Amortization of customer contract costs	79	85	93
Cost of additions to land, buildings and equipment	29	44	41
Cost of additions to internal use software	39	30	24
Common stock dividends - Xerox Holdings	192	216	229
Preferred stock dividends - Xerox Holdings	14	14	14
Payments to noncontrolling interests	1	3	14
Repurchases related to stock-based compensation - Xerox Holdings	18	19	28
Investments from noncontrolling interests	$ 15	$ 0	$ 0

Debt - Short-term Debt (Details

Debt - Short-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 650	$ 394
Xerox Holdings Corporation
Debt Instrument [Line Items]
Long-term debt, current maturities	0	0
Xerox Corporation
Debt Instrument [Line Items]
Long-term debt, current maturities	300	0
Xerox - Other Subsidiaries
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 350	$ 394

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Millions	Sep. 15, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 15, 2019
Debt Instrument [Line Items]
Total		$ 4,261
Subtotal - Debt issuance costs		(18)	$ (27)
Unamortized premium		3	3
Terminated swaps		0	1
Current swaps		0	0
Less: current maturities		(650)	(394)
Total Long-term Debt		3,596	4,050
Xerox Holdings Corporation
Debt Instrument [Line Items]
Total		1,500
Subtotal - Debt issuance costs		(11)	(13)
Less: current maturities		0	0
Xerox Corporation
Debt Instrument [Line Items]
Total		2,200
Subtotal - Debt issuance costs		(6)	(11)
Less: current maturities		(300)	0
Total Long-term Debt		2,102	2,557
Xerox - Other Subsidiaries
Debt Instrument [Line Items]
Total		561
Subtotal - Debt issuance costs		(1)	(3)
Less: current maturities		$ (350)	(394)
Xerox - Other Subsidiaries | Secured Borrowing - July 2020
Debt Instrument [Line Items]
Stated rate (percent)		1.76%
Debt, weighted average interest rate (percentage)		0.00%
Total		$ 0	267
Xerox - Other Subsidiaries | Secured Borrowing - December 2020
Debt Instrument [Line Items]
Stated rate (percent)		1.74%
Debt, weighted average interest rate (percentage)		1.74%
Total		$ 268	500
Xerox - Other Subsidiaries | Secured Borrowing - September 2021
Debt Instrument [Line Items]
Stated rate (percent)		1.40%
Debt, weighted average interest rate (percentage)		1.40%
Total		$ 293	0
Senior Notes due 2025 5.00% | Xerox Holdings Corporation
Debt Instrument [Line Items]
Stated rate (percent)		5.00%
Debt, weighted average interest rate (percentage)		4.95%
Total		$ 750	750
Senior Notes due 2028 5.50% | Xerox Holdings Corporation
Debt Instrument [Line Items]
Stated rate (percent)		5.50%
Debt, weighted average interest rate (percentage)		5.40%
Total		$ 750	750
Senior Notes due 2022 4.07% | Xerox Corporation
Debt Instrument [Line Items]
Stated rate (percent)		4.07%
Debt, weighted average interest rate (percentage)		4.07%
Total		$ 300	300
Senior Notes due 2023 4.38%
Debt Instrument [Line Items]
Stated rate (percent)	4.375%			4.125%
Increase to coupon rate	0.25%
Senior Notes due 2023 4.38% | Xerox Corporation
Debt Instrument [Line Items]
Stated rate (percent)		4.38%
Debt, weighted average interest rate (percentage)		3.68%
Total		$ 1,000	1,000
Senior Notes due 2024 3.80% | Xerox Corporation
Debt Instrument [Line Items]
Stated rate (percent)		3.80%
Debt, weighted average interest rate (percentage)		3.84%
Total		$ 300	300
Senior Notes due 2035 4.80% | Xerox Corporation
Debt Instrument [Line Items]
Stated rate (percent)		4.80%
Debt, weighted average interest rate (percentage)		4.84%
Total		$ 250	250
Senior Notes due 2039 6.75% | Xerox Corporation
Debt Instrument [Line Items]
Stated rate (percent)		6.75%
Debt, weighted average interest rate (percentage)		6.78%
Total		$ 350	350
Long-term Debt
Debt Instrument [Line Items]
Total		4,261	4,467
Long-term Debt | Xerox Holdings Corporation
Debt Instrument [Line Items]
Total		1,500	1,500
Long-term Debt | Xerox Corporation
Debt Instrument [Line Items]
Total		2,200	2,200
Long-term Debt | Xerox - Other Subsidiaries
Debt Instrument [Line Items]
Total		$ 561	$ 767

Debt - Principal Payments Due O

Debt - Principal Payments Due On Long-Term Debt (Details) $ in Millions	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
2021	$ 651
2022	1,185
2023	325
2024	750
2025	0
Thereafter	1,350
Total	4,261
Long-term debt maturities, subsequent year by quarter, first	396
Long-term debt maturities, subsequent year by quarter, second	92
Long-term debt maturities, subsequent year by quarter, third	85
Long-term debt maturities, subsequent year by quarter, fourth	78
Xerox Holdings Corporation
Debt Instrument [Line Items]
2021	0
2022	0
2023	0
2024	750
2025	0
Thereafter	750
Total	1,500
Xerox Corporation
Debt Instrument [Line Items]
2021	300
2022	1,000
2023	300
2024	0
2025	0
Thereafter	600
Total	2,200
Xerox - Other Subsidiaries
Debt Instrument [Line Items]
2021	351
2022	185
2023	25
2024	0
2025	0
Thereafter	0
Total	$ 561

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - USD ($)	Aug. 24, 2020	Aug. 31, 2020	Aug. 24, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest payable				$ 30,000,000
Interest Expense				207,000,000	$ 215,000,000	$ 236,000,000
Total				4,261,000,000
Xerox Corporation
Debt Instrument [Line Items]
Interest Expense				80,000,000	$ 32,000,000
Total				2,200,000,000
Senior Notes | 2025 Senior Notes
Debt Instrument [Line Items]
Debt value	$ 200,000,000	$ 550,000,000	$ 200,000,000
Debt interest rate, percent		5.00%
Debt instrument issuance price percentage of par	100.75%		100.75%
Senior Notes | 2028 Senior Notes
Debt Instrument [Line Items]
Debt value	$ 200,000,000	$ 550,000,000	$ 200,000,000
Debt interest rate, percent		5.50%
Debt instrument issuance price percentage of par	102.50%		102.50%
Senior Notes | 2025 And 2028 Senior Notes
Debt Instrument [Line Items]
Proceeds, net of fees and expenses	$ 405,000,000	$ 1,089,000,000	$ 1,494,000,000
Due to related parties				$ 1,495,000,000

Debt - Credit Facility (Details

Debt - Credit Facility (Details)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)
Line of Credit Facility [Line Items]
Line of credit facility, fair value of amount outstanding	$ 0	$ 0
Letters of credit	0	$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt guaranteed by domestic subsidiary	$ 100,000,000
Line of credit facility, commitment fee (percent)	0.25%
Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Line of credit facility, covenant terms	3.00x
Line of credit facility, interest rate, base rate (percent)	0.00%
Line of credit facility, interest rate, LIBOR plus all-in spread rate	1.00%
All-in interest rate spread based on credit rating (percent)	0.375%
Line of credit facility, commitment fee (percent)	0.125%
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Line of credit facility, interest rate, base rate (percent)	0.70%
Line of credit facility, interest rate, LIBOR plus all-in spread rate	1.70%
All-in interest rate spread based on credit rating (percent)	1.375%
Line of credit facility, commitment fee (percent)	0.30%
Current Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity	$ 1,800,000,000
Letter of credit, credit facility sub-facility, maximum borrowing amount	$ 250,000,000
Credit Agreement Amendment No3
Line of Credit Facility [Line Items]
Minimum unrestricted cash			$ 1,000,000,000
Borrowed money to consolidated EBITDA			4.25
Cap on cash netting				$ 1,750,000,000

Debt - Secured Borrowings and C

Debt - Secured Borrowings and Collateral (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jul. 31, 2020	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Secured loan			$ 311	$ 500
Aggregate principal amount	$ 136
Billed portion of finance receivables, net		$ 94		99
Finance receivables, net		1,042		1,082
Finance receivables due after one year, net		1,934		1,984
Total Assets		13,223		14,741
Short-term debt and current portion of long-term debt		650		394
Total Long-term Debt		3,596		4,050
Total Liabilities		8,556		8,931
Xerox Corporation
Debt Instrument [Line Items]
Finance receivables, net		1,042		1,082
Finance receivables due after one year, net		1,934		1,984
Total Assets		13,215		14,741
Short-term debt and current portion of long-term debt		650		394
Total Long-term Debt		2,102		2,557
Total Liabilities		$ 8,508		7,347
Special Purpose Entity (SPE)
Debt Instrument [Line Items]
Debt instrument, interest rate, effective (percent)		1.40%
Expected life of loan		2 years 6 months
Special Purpose Entity (SPE) | Debt Current
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 1
Special Purpose Entity (SPE)
Debt Instrument [Line Items]
Billed portion of finance receivables, net		27		28
Finance receivables, net		299		350
Finance receivables due after one year, net		362		510
Equipment on operating leases, net		8		8
Restricted Cash		32		22
Total Assets		728		918
Short-term debt and current portion of long-term debt		350		394
Total Long-term Debt		210		370
Total Liabilities		$ 560		764
Special Purpose Entity (SPE)
Debt Instrument [Line Items]
Financing receivables sold			331	$ 610
Net book value of rights to payments under operating leases sold			$ 9
Debt instrument, interest rate, effective (percent)		1.74%

Debt - Interest (Details)

Debt - Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest paid	$ 203	$ 181	$ 221
Interest expense	207	215	236
Interest income	225	240	$ 260
Xerox Corporation
Debt Instrument [Line Items]
Interest expense	$ 80	$ 32

Financial Instruments - Interes

Financial Instruments - Interest Rate Risk Management and Fair Value Hedges (Details)	12 Months Ended
	Dec. 31, 2021USD ($)contract	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Derivative [Line Items]
Derivative liability, notional amount		$ 200,000,000	$ 100,000,000
Net asset fair value		4,000,000
Unamortized balance of fair value adjustments - terminated swaps	$ 0	1,000,000
Amortization of fair value adjustments for terminated swaps	1,000,000	2,000,000	1,000,000
Extinguishment of debt		2,000,000
Fair Value Hedging
Derivative [Line Items]
Ineffective Portion Recorded to Earnings Prior to Termination		$ 0	$ 0
Fair value adjustment to the hedged debt	$ 4,000,000
Fair Value Hedging | Interest Rate Cap
Derivative [Line Items]
Derivative contract, outstanding | contract	1

Financial Instruments - Foreign

Financial Instruments - Foreign Exchange Risk Management (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	$ 1,113
Average maturity of foreign exchange hedging contracts - within three months (percent)	84.00%
Average maturity of foreign exchange hedging contracts - within three months and six months (percent)	7.00%
Average maturity of foreign exchange hedging contracts - within six and twelve months (percent)	9.00%
Exposure increase percent	(4.10%)
Derivative assets (liabilities), at fair value, net	$ (6)	$ 2
Japanese Yen/U.S. Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	262
Euro/U.K. Pound Sterling
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	197
Japanese Yen/Euro
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	169
Euro/U.S. Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	145
U.S. Dollar/Euro
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	118
U.S. Dollar/Canadian Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	50
Euro/Danish Krone
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	34
Euro/Canadian Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	28
U.K. Pound Sterling/Euro
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	23
U.S. Dollar/Russian Ruble
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	10
U.S. Dollar/Brazilian Real
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	10
U.S. Dollar/Israeli Shekel
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	8
Russian Ruble/U.S. Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	8
All Other
Summary of Foreign Exchange Hedging Positions [Abstract]
Gross Notional Value	51
Foreign exchange contract
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	(7)
Foreign exchange contract | Japanese Yen/U.S. Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	(6)
Foreign exchange contract | Euro/U.K. Pound Sterling
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	(2)
Foreign exchange contract | Japanese Yen/Euro
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	(1)
Foreign exchange contract | Euro/U.S. Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	1
Foreign exchange contract | U.S. Dollar/Euro
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	1
Foreign exchange contract | U.S. Dollar/Canadian Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	1
Foreign exchange contract | Euro/Danish Krone
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | Euro/Canadian Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | U.K. Pound Sterling/Euro
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | U.S. Dollar/Russian Ruble
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | U.S. Dollar/Brazilian Real
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | U.S. Dollar/Israeli Shekel
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | Russian Ruble/U.S. Dollar
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	0
Foreign exchange contract | All Other
Summary of Foreign Exchange Hedging Positions [Abstract]
Derivative, fair value, net	$ (1)

Financial Instruments - Summary

Financial Instruments - Summary of Derivative Instruments Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative (Liability) Asset	$ (6)	$ 2
Other Assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - assets	5	7
Other Liabilities
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - liabilities	(11)	(5)
Derivatives Designated as Hedging Instruments | Other Assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative (Liability) Asset		2
Derivatives Designated as Hedging Instruments | Other Liabilities
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative (Liability) Asset	(2)
Foreign exchange contracts – forwards | Derivatives Designated as Hedging Instruments
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative (Liability) Asset	(3)	2
Foreign exchange contracts – forwards | Derivatives Designated as Hedging Instruments | Other current assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - assets	3	3
Foreign exchange contracts – forwards | Derivatives Designated as Hedging Instruments | Accrued expenses and other current liabilities
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - liabilities	(6)	(2)
Foreign exchange contracts – forwards | Derivatives NOT Designated as Hedging Instruments | Other current assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - assets	1	3
Foreign exchange contracts – forwards | Derivatives NOT Designated as Hedging Instruments | Accrued expenses and other current liabilities
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - liabilities	(5)	(3)
Foreign exchange contracts – forwards | Derivatives NOT Designated as Hedging Instruments | Other Assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative (Liability) Asset		0
Foreign exchange contracts – forwards | Derivatives NOT Designated as Hedging Instruments | Other Liabilities
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Net Derivative (Liability) Asset	(4)
Foreign currency options | Derivatives Designated as Hedging Instruments | Other current assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - assets	0	1
Interest rate cap | Derivatives Designated as Hedging Instruments | Other long-term assets
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Derivative instruments - assets	$ 1	$ 0

Financial Instruments - Summa_2

Financial Instruments - Summary of Derivative Instruments Gain (Losses) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized (losses) gains, net	[1]	$ (4,000,000)	$ 4,000,000	$ (6,000,000)
Cash flow hedge gain (loss) to be net after-tax loss		(2,000,000)
Foreign currency transaction gain (loss), before tax		7,000,000	3,000,000	7,000,000
Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative (Loss) Gain Recognized in Income		0	0	0
Cash Flow Hedging | Underlying Derivative Exposure
Derivative Instruments, Gain (Loss) [Line Items]
Derivative (Loss) Gain Recognized in Income		0	0	0
Foreign exchange contracts – forwards/options | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized (losses) gains, net		(12,000,000)	4,000,000	2,000,000
Interest expense | Interest rate contracts | Fair Value Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative (Loss) Gain Recognized in Income		0	(1,000,000)	4,000,000
Hedged Item Gain (Loss) Recognized in Income		0	1,000,000	(4,000,000)
Cost of sales | Foreign exchange contracts – forwards/options | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain Reclassified from AOCI to Income (Effective Portion)		(7,000,000)	(1,000,000)	9,000,000
Foreign currency gain (loss) | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Derivative (Loss) Gain Recognized in Income		0
Foreign currency gain (loss) | Foreign exchange contracts – forwards/options | Derivatives NOT Designated as Hedging Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative (Loss) Gain Recognized in Income		$ (26,000,000)	$ 14,000,000	$ (6,000,000)
[1]	Refer to Note 25 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.

Fair Value of Financial Asset_3

Fair Value of Financial Assets and Liabilities - Recurring (Details) - Fair Value, Recurring - Significant Other Observable Inputs (Level 2) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Total	$ 23	$ 25
Liabilities:
Total	29	22
Options Held
Assets:
Foreign currency options	0	1
Foreign exchange contracts – forwards
Assets:
Total	4	6
Liabilities:
Total	11	5
Interest rate cap
Assets:
Total	1	0
Deferred compensation
Assets:
Total	18	18
Liabilities:
Total	$ 18	$ 17

Fair Value of Financial Asset_4

Fair Value of Financial Assets and Liabilities - Nonrecurring (Details) - Fair Value, Nonrecurring - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 1,840	$ 2,625
Accounts receivable, net	818	883
Short-term debt and current portion of long-term debt	650	394
Total Long-term debt	3,596	4,050
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1,840	2,625
Accounts receivable, net	818	883
Short-term debt and current portion of long-term debt	653	396
Total Long-term debt	3,776	4,266
Xerox Holdings Corporation | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term debt	1,494	1,493
Xerox Holdings Corporation | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term debt	1,579	1,596
Xerox Corporation | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term debt	1,892	2,187
Xerox Corporation | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term debt	1,987	2,298
Xerox - Other Subsidiaries | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term debt	210	370
Xerox - Other Subsidiaries | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Long-term debt	$ 210	$ 372

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Amounts Recognized in the Consolidated Balance Sheets:
Pension and other benefit liabilities	$ (1,373)	$ (1,566)
Post-retirement medical benefits	(277)	(340)
Pension Plan
Change in Benefit Obligation:
Benefit obligation - beginning	10,906
Benefit obligation - ending	9,915	10,906
Change in Plan Assets:
Fair value of plan assets - beginning	10,001
Employer contributions	135
Fair value of plan assets - ending	9,796	10,001
Net funded status	(119)	(905)
Pension Plan | United States
Change in Benefit Obligation:
Benefit obligation - beginning	3,747	3,598
Service cost	2	2	$ 2
Interest cost	80	196	218
Plan participants' contributions	0	0
Actuarial (gain) loss	(86)	240
Currency exchange rate changes	0	0
Plan Amendments/Curtailments	0	0
Benefits paid/settlements	(371)	(289)
Other	0	0
Benefit obligation - ending	3,372	3,747	3,598
Change in Plan Assets:
Fair value of plan assets - beginning	2,802	2,493
Actual return on plan assets	89	563
Employer contributions	24	35
Plan participants' contributions	0	0
Currency exchange rate changes	0	0
Benefits paid/settlements	(371)	(289)
Other	0	0
Fair value of plan assets - ending	2,544	2,802	2,493
Net funded status	(828)	(945)
Amounts Recognized in the Consolidated Balance Sheets:
Other long-term assets	0	0
Accrued compensation and benefit costs	(24)	(24)
Pension and other benefit liabilities	(804)	(921)
Post-retirement medical benefits	0	0
Net Amounts Recognized	(828)	(945)
Accumulated Benefit Obligation	3,372	3,747
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Net actuarial loss (gain)	745	874
Prior service (credit) cost	0	(1)
Total Pre-tax loss (gain)	745	873
Pension Plan | Non-U.S.
Change in Benefit Obligation:
Benefit obligation - beginning	7,159	6,492
Service cost	20	20	22
Interest cost	88	113	153
Plan participants' contributions	3	3
Actuarial (gain) loss	(233)	439
Currency exchange rate changes	(193)	374
Plan Amendments/Curtailments	(4)	2
Benefits paid/settlements	(297)	(284)
Other	0	0
Benefit obligation - ending	6,543	7,159	6,492
Change in Plan Assets:
Fair value of plan assets - beginning	7,199	6,385
Actual return on plan assets	415	637
Employer contributions	111	104
Plan participants' contributions	3	3
Currency exchange rate changes	(178)	354
Benefits paid/settlements	(297)	(284)
Other	(1)	0
Fair value of plan assets - ending	7,252	7,199	6,385
Net funded status	709	40
Amounts Recognized in the Consolidated Balance Sheets:
Other long-term assets	1,211	617
Accrued compensation and benefit costs	(21)	(24)
Pension and other benefit liabilities	(481)	(553)
Post-retirement medical benefits	0	0
Net Amounts Recognized	709	40
Accumulated Benefit Obligation	6,412	7,018
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Net actuarial loss (gain)	939	1,471
Prior service (credit) cost	29	27
Total Pre-tax loss (gain)	968	1,498
Retiree Health
Change in Benefit Obligation:
Benefit obligation - beginning	370	385
Service cost	2	2	2
Interest cost	8	12	15
Plan participants' contributions	8	10
Actuarial (gain) loss	(1)	4
Currency exchange rate changes	0	3
Plan Amendments/Curtailments	(50)	(11)
Benefits paid/settlements	(34)	(35)
Other	0	0
Benefit obligation - ending	303	370	385
Change in Plan Assets:
Fair value of plan assets - beginning	0	0
Actual return on plan assets	0	0
Employer contributions	25	25
Plan participants' contributions	8	10
Currency exchange rate changes	0	0
Benefits paid/settlements	(33)	(35)
Other	0	0
Fair value of plan assets - ending	0	0	$ 0
Net funded status	(303)	(370)
Amounts Recognized in the Consolidated Balance Sheets:
Other long-term assets	0	0
Accrued compensation and benefit costs	(26)	(30)
Pension and other benefit liabilities	0	0
Post-retirement medical benefits	(277)	(340)
Net Amounts Recognized	(303)	(370)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Net actuarial loss (gain)	(25)	(23)
Prior service (credit) cost	(83)	(99)
Total Pre-tax loss (gain)	$ (108)	$ (122)

Employee Benefit Plans - Accumu

Employee Benefit Plans - Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	$ 3,993	$ 5,170
Fair Value of Plan Assets	2,688	3,675
Benefit Obligation	4,629	5,201
Fair Value of Plan Assets	3,295	3,675
United States
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	3,372	3,747
Fair Value of Plan Assets	2,544	2,802
Benefit Obligation	3,372	3,747
Fair Value of Plan Assets	2,544	2,802
Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	621	1,423
Fair Value of Plan Assets	144	873
Benefit Obligation	1,257	1,454
Fair Value of Plan Assets	751	873
Underfunded Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	3,056	3,408
Fair Value of Plan Assets	2,544	2,802
Benefit Obligation	3,056	3,408
Fair Value of Plan Assets	2,544	2,802
Underfunded Plan | Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	181	921
Fair Value of Plan Assets	144	873
Benefit Obligation	810	942
Fair Value of Plan Assets	751	873
Unfunded Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	316	339
Fair Value of Plan Assets	0	0
Benefit Obligation	316	339
Fair Value of Plan Assets	0	0
Unfunded Plan | Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation	440	502
Fair Value of Plan Assets	0	0
Benefit Obligation	447	512
Fair Value of Plan Assets	$ 0	$ 0

Employee Benefit Plans - Pensio

Employee Benefit Plans - Pension Plan Assets and Benefit Obligations (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	$ 9,796	$ 10,001
Pension Benefit Obligations	9,915	10,906
Net Funded Status	(119)	(905)
United States
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	2,544	2,802	$ 2,493
Pension Benefit Obligations	3,372	3,747	$ 3,598
Net Funded Status	(828)	(945)
U.K.
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	4,914	4,707
Pension Benefit Obligations	3,870	4,218
Net Funded Status	1,044	489
Netherlands
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	1,174	1,266
Pension Benefit Obligations	1,145	1,226
Net Funded Status	29	40
Canada
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	746	794
Pension Benefit Obligations	747	797
Net Funded Status	(1)	(3)
Germany
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	0	0
Pension Benefit Obligations	346	395
Net Funded Status	(346)	(395)
Other
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	418	432
Pension Benefit Obligations	435	523
Net Funded Status	(17)	(91)
Funded Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	2,544	2,802
Pension Benefit Obligations	3,056	3,408
Net Funded Status	(512)	(606)
Unfunded Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Fair Value of Pension Plan Assets	0	0
Pension Benefit Obligations	316	339
Net Funded Status	$ (316)	$ (339)

Employee Benefit Plans - Total

Employee Benefit Plans - Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plans	$ (10)	$ 58	$ 109
Interest expense on non-TRA obligations	150	184	243
Interest (income) expense allocated to TRA participant accounts	18	125	128
Expected Investment Income on Non-TRA Assets	307	283	315
Actual investment income (loss) on TRA assets	18	125	128
Pension Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	2	2	2
Interest cost	80	196	218
Expected return on plan assets	(117)	(217)	(210)
Recognized net actuarial loss (gain)	17	27	24
Amortization of prior service credit	(1)	(2)	(2)
Recognized settlement loss	54	53	93
Recognized curtailment gain	0	0	0
Defined Benefit Plans	35	59	125
Defined contribution plans	0	1	26
Net Periodic Benefit Cost (Credit)	35	60	151
Net actuarial (gain) loss	(57)	(105)	243
Prior service (credit) cost	0	0	0
Amortization of net actuarial (loss) gain	(71)	(80)	(117)
Amortization of net prior service credit	1	2	2
Curtailment gain	0	0	0
Total recognized in other comprehensive income (loss)	(127)	(183)	128
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)	(92)	(123)	279
Pension Plan | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	20	20	22
Interest cost	88	113	153
Expected return on plan assets	(208)	(191)	(233)
Recognized net actuarial loss (gain)	59	58	43
Amortization of prior service credit	(1)	(1)	(2)
Recognized settlement loss	1	1	1
Recognized curtailment gain	(4)	(1)	0
Defined Benefit Plans	(45)	(1)	(16)
Defined contribution plans	18	18	23
Net Periodic Benefit Cost (Credit)	(27)	17	7
Net actuarial (gain) loss	(425)	(9)	24
Prior service (credit) cost	(4)	4	0
Amortization of net actuarial (loss) gain	(60)	(59)	(44)
Amortization of net prior service credit	1	1	2
Curtailment gain	4	1	0
Total recognized in other comprehensive income (loss)	(484)	(62)	(18)
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)	(511)	(45)	(11)
Retiree Health
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	2	2	2
Interest cost	8	12	15
Expected return on plan assets	0	0	0
Recognized net actuarial loss (gain)	1	(1)	(5)
Amortization of prior service credit	(66)	(76)	(77)
Recognized settlement loss	0	0	0
Recognized curtailment gain	0	0	0
Defined Benefit Plans	(55)	(63)	(65)
Net Periodic Benefit Cost (Credit)	(55)	(63)	(65)
Net actuarial (gain) loss	(1)	4	8
Prior service (credit) cost	(50)	(11)	0
Amortization of net actuarial (loss) gain	(1)	1	5
Amortization of net prior service credit	66	76	77
Curtailment gain	0	0	0
Total recognized in other comprehensive income (loss)	14	70	90
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss)	$ (41)	$ 7	$ 25

Employee Benefit Plans - Plan A

Employee Benefit Plans - Plan Amendments (Details) £ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)	Oct. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021GBP (£)	Dec. 31, 2020USD ($)	Dec. 31, 2021GBP (£)	Nov. 30, 2020USD ($)	Nov. 30, 2020GBP (£)	Dec. 31, 2018USD ($)	Dec. 31, 2018GBP (£)
United States of America, Dollars
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction of accounted for as an actuarial gain | £				£ 18
United Kingdom, Pounds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction of accounted for as an actuarial gain | £				£ 13
Pension Plan | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction of accounted for as an actuarial gain			$ 86		$ (240)
Pension Plan | United States | United States of America, Dollars
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost of equalization							$ 4		$ 42
Cost before equalization	$ 31		31
Pension Plan | United States | United Kingdom, Pounds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost before equalization | £						£ 23
Pension Plan | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction of accounted for as an actuarial gain			$ 233		(439)
Pension Plan | U.K.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost of equalization, percent of defined benefit plan obligation (percent)	0.80%		0.80%			0.80%			1.20%	1.20%
Pension Plan | U.K. | United States of America, Dollars
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Annual amortization to prior service cost							$ 2
Pension Plan | U.K. | United Kingdom, Pounds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cost of equalization | £								£ 3		£ 33
Retiree Health
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction of accounted for as an actuarial gain			$ 1		$ (4)
Retiree Health | United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligation, increase (decrease) for plan amendment	$ 50	$ 11

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Benefit Plans Assets Measured at Fair Value (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 9,796	$ 10,001
Level 1 | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	93
Assets measured at NAV | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 75	$ 73
Fixed Income Securities | Assets measured at NAV | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit plan, plan assets, allocation (percent)	75.00%	70.00%
Equity Securities | Assets measured at NAV | Mutual Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined benefit plan, plan assets, allocation (percent)	25.00%	30.00%
U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 2,544	$ 2,802	$ 2,493
Defined benefit plan, plan assets, allocation (percent)	100.00%	100.00%
U.S. | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 3	$ 17
U.S. | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	148	263
U.S. | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	391	447
U.S. | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	214	325
U.S. | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	119	78
U.S. | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	1,134	1,252
U.S. | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	5	11
U.S. | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 61	$ 41
Defined benefit plan, plan assets, allocation (percent)	6.00%	6.00%
U.S. | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 239	$ 209
Defined benefit plan, plan assets, allocation (percent)	8.00%	8.00%
U.S. | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 0	$ 0
U.S. | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 230	$ 159
Defined benefit plan, plan assets, allocation (percent)	2.00%	2.00%
U.S. | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 407	$ 491
U.S. | Level 1 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	3	17
U.S. | Level 1 | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	148	224
U.S. | Level 1 | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	161	243
U.S. | Level 1 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 1 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	95	7
Plan assets, non-financial, amount	2	7
U.S. | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	1,472	1,666
U.S. | Level 2 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 2 | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 2 | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 2 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	214	325
U.S. | Level 2 | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	119	78
U.S. | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	1,134	1,252
U.S. | Level 2 | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	5	11
U.S. | Level 2 | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 2 | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 2 | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 2 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	51	31
U.S. | Level 3 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	51	31	5
U.S. | Level 3 | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Level 3 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	614	614
U.S. | Assets measured at NAV | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	39
U.S. | Assets measured at NAV | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	230	204
U.S. | Assets measured at NAV | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	10	10
U.S. | Assets measured at NAV | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	239	209
U.S. | Assets measured at NAV | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
U.S. | Assets measured at NAV | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	135	152
Non-U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 7,252	$ 7,199	6,385
Defined benefit plan, plan assets, allocation (percent)	100.00%	100.00%
Non-U.S. | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 477	$ 401
Non-U.S. | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	71	234
Non-U.S. | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	1,075	1,031
Non-U.S. | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	61	77
Non-U.S. | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	2,181	2,026
Non-U.S. | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	985	921
Non-U.S. | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	300	488
Non-U.S. | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 276	$ 316
Defined benefit plan, plan assets, allocation (percent)	4.00%	4.00%
Non-U.S. | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 1,688	$ 1,560
Defined benefit plan, plan assets, allocation (percent)	24.00%	22.00%
Non-U.S. | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 75	$ 86
Non-U.S. | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 63	$ 59
Defined benefit plan, plan assets, allocation (percent)	13.00%	15.00%
Non-U.S. | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 1,233	$ 1,159
Non-U.S. | Level 1 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	477	401
Non-U.S. | Level 1 | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	35	178
Non-U.S. | Level 1 | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	699	559
Non-U.S. | Level 1 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 1 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	22	21
Plan assets, non-financial, amount	22	21
Non-U.S. | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	3,943	3,927
Non-U.S. | Level 2 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 2 | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	36	56
Non-U.S. | Level 2 | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	339	321
Non-U.S. | Level 2 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	61	77
Non-U.S. | Level 2 | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	2,181	2,026
Non-U.S. | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	985	921
Non-U.S. | Level 2 | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	300	488
Non-U.S. | Level 2 | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 2 | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 2 | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 2 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	41	38
Non-U.S. | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	243	297	314
Non-U.S. | Level 3 | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Level 3 | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	164	208	219
Non-U.S. | Level 3 | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	4	3
Non-U.S. | Level 3 | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	75	86	$ 90
Non-U.S. | Level 3 | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	1,833	1,816
Non-U.S. | Assets measured at NAV | Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | International
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	37	151
Non-U.S. | Assets measured at NAV | U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | Debt security issued by government agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | Real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	112	108
Non-U.S. | Assets measured at NAV | Private equity/venture capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	1,684	1,557
Non-U.S. | Assets measured at NAV | Guaranteed insurance contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	0	0
Non-U.S. | Assets measured at NAV | Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total plan assets, amount	$ 0	$ 0

Employee Benefit Plans - Defi_2

Employee Benefit Plans - Defined Benefit Plans Measured Using Significant Unobservable Inputs Level 3 (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	$ 10,001
Fair value of plan assets - ending	9,796	$ 10,001
U.S.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	2,802	2,493
Fair value of plan assets - ending	2,544	2,802
U.S. | Real estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	41
Fair value of plan assets - ending	61	41
U.S. | Guaranteed Insurance Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	0
Fair value of plan assets - ending	0	0
U.S. | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	31
Fair value of plan assets - ending	51	31
U.S. | Level 3 | Real estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	31	5
Purchases	15	27
Sales	0	0
Unrealized gains (losses)	5	(1)
Currency translation	0	0
Fair value of plan assets - ending	51	31
U.S. | Level 3 | Guaranteed Insurance Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	0
Fair value of plan assets - ending	0	0
Non-U.S.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	7,199	6,385
Fair value of plan assets - ending	7,252	7,199
Non-U.S. | Real estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	316
Fair value of plan assets - ending	276	316
Non-U.S. | Guaranteed Insurance Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	86
Fair value of plan assets - ending	75	86
Non-U.S. | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	297	314
Purchases	10	3
Sales	(38)	(19)
Unrealized gains (losses)	(10)	(20)
Currency translation	(16)	19
Fair value of plan assets - ending	243	297
Non-U.S. | Level 3 | Real estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	208	219
Purchases	10	0
Sales	(33)	(15)
Unrealized gains (losses)	(12)	(8)
Currency translation	(9)	12
Fair value of plan assets - ending	164	208
Non-U.S. | Level 3 | Private Equity/Venture Capital
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	3	5
Purchases	0	3
Sales	0	0
Unrealized gains (losses)	1	(4)
Currency translation	0	(1)
Fair value of plan assets - ending	4	3
Non-U.S. | Level 3 | Guaranteed Insurance Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of plan assets - beginning	86	90
Purchases	0	0
Sales	(5)	(4)
Unrealized gains (losses)	1	(8)
Currency translation	(7)	8
Fair value of plan assets - ending	$ 75	$ 86

Employee Benefit Plans - Invest

Employee Benefit Plans - Investment Strategy (Details) - Pension Plan	Dec. 31, 2021	Dec. 31, 2020
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	100.00%	100.00%
Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	100.00%	100.00%
Equity investments(1) | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	24.00%	23.00%
Equity investments(1) | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	15.00%	15.00%
Fixed income investments | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	60.00%	61.00%
Fixed income investments | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	44.00%	44.00%
Real estate | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	6.00%	6.00%
Real estate | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	4.00%	4.00%
Private equity/venture capital | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	8.00%	8.00%
Private equity/venture capital | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	24.00%	22.00%
Other | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	2.00%	2.00%
Other | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, plan assets, allocation (percent)	13.00%	15.00%

Employee Benefit Plans - Contri

Employee Benefit Plans - Contributions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	$ 135
Expected future employer contribution, next fiscal year	135
Retiree Health
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	25	$ 25
Expected future employer contribution, next fiscal year	25
U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	24	35
Expected future employer contribution, next fiscal year	25
Non-U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contributions	111	$ 104
Expected future employer contribution, next fiscal year	$ 110

Employee Benefit Plans - Estima

Employee Benefit Plans - Estimated Future Benefit Payments (Details) $ in Millions	Dec. 31, 2021USD ($)
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	$ 633
2022	592
2023	588
2024	580
2025	576
Years 2027-2031	2,776
Retiree Health
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	25
2022	25
2023	24
2024	22
2025	21
Years 2027-2031	87
United States | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	349
2022	301
2023	287
2024	276
2025	263
Years 2027-2031	1,095
Non-U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2021	284
2022	291
2023	301
2024	304
2025	313
Years 2027-2031	$ 1,681

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retiree Health
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate assumptions used to determine benefit obligations (percent)		2.70%	2.20%	3.00%
Discount rate assumptions used to determine net periodic benefit costs (percent)		2.20%	3.00%	4.10%
Retiree Health | Forecasted
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate assumptions used to determine net periodic benefit costs (percent)	2.70%
United States | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate assumptions used to determine benefit obligations (percent)		2.70%	2.20%	3.10%
Rate of compensation increase assumptions used to determine benefit obligation (percent)		0.10%	0.10%	0.20%
Interest crediting rate used to determine benefit obligation (percent)		2.80%	2.80%	2.80%
Discount rate assumptions used to determine net periodic benefit costs (percent)		2.20%	3.10%	4.20%
Expected return on plan assets assumptions used to determine net periodic benefit cost (percent)		5.90%	6.00%	6.00%
Rate of compensation increase assumptions used to determine net periodic benefit cost (percent)		0.10%	0.20%	0.20%
Interest crediting rate used to determine net periodic benefit cost (percent)		2.80%	2.80%	2.80%
United States | Pension Plan | Forecasted
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate assumptions used to determine net periodic benefit costs (percent)	2.70%
Expected return on plan assets assumptions used to determine net periodic benefit cost (percent)	5.90%
Rate of compensation increase assumptions used to determine net periodic benefit cost (percent)	0.10%
Interest crediting rate used to determine net periodic benefit cost (percent)	2.50%
Non-U.S. | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate assumptions used to determine benefit obligations (percent)		1.80%	1.30%	1.80%
Rate of compensation increase assumptions used to determine benefit obligation (percent)		2.80%	2.60%	2.60%
Interest crediting rate used to determine benefit obligation (percent)		1.50%	1.50%	1.50%
Discount rate assumptions used to determine net periodic benefit costs (percent)		1.30%	1.80%	2.60%
Expected return on plan assets assumptions used to determine net periodic benefit cost (percent)		3.10%	3.30%	4.00%
Rate of compensation increase assumptions used to determine net periodic benefit cost (percent)		2.60%	2.60%	2.60%
Interest crediting rate used to determine net periodic benefit cost (percent)		1.50%	1.50%	1.50%
Non-U.S. | Pension Plan | Forecasted
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate assumptions used to determine net periodic benefit costs (percent)	1.80%
Expected return on plan assets assumptions used to determine net periodic benefit cost (percent)	3.20%
Rate of compensation increase assumptions used to determine net periodic benefit cost (percent)	2.80%
Interest crediting rate used to determine net periodic benefit cost (percent)	1.50%

Employee Benefit Plans - Assume

Employee Benefit Plans - Assumed Health Care Cost (Details) - Retiree Health	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Health care cost trend rate assumed for next year (percent)	5.30%	5.70%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)(percent)	4.30%	4.30%

Employee Benefit Plans - Defi_3

Employee Benefit Plans - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employer discretionary contribution	$ 18	$ 19	$ 49
Suspension resulted in savings	$ 20

Income and Other Taxes (Details

Income and Other Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic (loss) income	$ (343)	$ 353	$ 679
Foreign (loss) income	(132)	(101)	143
Income before Income Taxes and Equity (Loss) Income	$ (475)	$ 252	$ 822

Income and Other Taxes - Income

Income and Other Taxes - Income Tax Expense (Benefit), Current Deferred, by Jurisdiction (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current federal tax expense (benefit)	$ 33	$ 3	$ (3)
Deferred federal income tax expense (benefit)	(61)	58	98
Current foreign tax expense	29	19	43
Deferred foreign income tax expense (benefit)	(20)	(34)	5
Current state tax expense	10	8	15
Deferred state income tax (benefit) expense	(8)	10	21
Income Tax (Benefit) Expense	$ (17)	$ 64	$ 179

Income and Other Taxes - Reconc

Income and Other Taxes - Reconciliation of Statutory Tax Rate to Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Nondeductible expenses	(1.90%)	4.10%	1.30%
Effect of tax law changes	3.10%	(10.50%)	(4.60%)
Change in valuation allowance for deferred tax assets	2.00%	9.90%	2.00%
State taxes, net of federal benefit	(0.60%)	5.50%	3.50%
Audit and other tax return adjustments	5.60%	1.40%	0.60%
Tax-exempt income, credits and incentives	4.50%	(5.90%)	(2.10%)
Foreign rate differential adjusted for U.S. taxation of foreign profits	(0.90%)	(2.60%)	0.10%
Stock-based compensation	(0.20%)	2.30%	(0.30%)
Goodwill impairment	(29.10%)	0.00%	0.00%
Other	0.10%	0.20%	0.30%
Effective Income Tax Rate	3.60%	25.40%	21.80%
Income taxes to federal, foreign and state jurisdictions	$ 61	$ 32	$ 94

Income and Other Taxes - Alloca

Income and Other Taxes - Allocation of Income Tax Expense Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Interperiod Allocaion [Line Items]
Income tax expense	$ (17)	$ 64	$ 179
Discontinued operations	0	0	95
Total Income Tax Expense	121	105	226
Changes in defined benefit plans
Income Tax Interperiod Allocaion [Line Items]
Other comprehensive income (loss), tax	143	43	(55)
Cash flow hedges
Income Tax Interperiod Allocaion [Line Items]
Other comprehensive income (loss), tax	(1)	1	(1)
Translation adjustments
Income Tax Interperiod Allocaion [Line Items]
Other comprehensive income (loss), tax	(4)	(3)	8
Retained Earnings
Income Tax Interperiod Allocaion [Line Items]
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0

Income and Other Taxes - Unreco

Income and Other Taxes - Unrecognized Tax Benefits Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 115	$ 127	$ 108
Additions related to current year	7	3	42
Additions related to prior years positions	0	8	17
Reductions related to prior years positions	(14)	(10)	(36)
Settlements with taxing authorities	7
Settlements with taxing authorities		(8)	(1)
Reductions related to lapse of statute of limitations	(7)	(7)	(3)
Currency	(1)	2	0
Ending balance	107	115	127
Tax positions, highly certain of realizability but with uncertainty of timing	1	8	3
Accruals for payment of interest and penalties	$ 1	$ 4	$ 2

Income and Other Taxes - Deferr

Income and Other Taxes - Deferred Tax Asset and Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 1986
Deferred Tax Assets And Liabilities [Line Items]
Research and development	$ 185	$ 150
Post-retirement medical benefits	78	94
Net operating losses	363	377
Operating reserves, accruals and deferrals	133	124
Tax credit carryforwards	143	249
Deferred and share-based compensation	24	13
Pension	7	211
Depreciation	31	35
Operating lease liabilities	62	82
Other	36	44
Subtotal	1,062	1,379
Valuation allowance	(357)	(396)
Total	705	983
Finance lease and installment sales	61	247
Intangibles and goodwill	122	140
Unremitted earnings of foreign subsidiaries	31	31
Operating lease ROU assets	58	76
Other	22	16
Total	294	510
Total Deferred Taxes, Net	411	473
Deferred tax assets	519	508
Valuation allowance, increase (decrease) in amount	(39)	(3)	$ 2
Tax credit carryforwards	143
Carryforwards with no expiration
Deferred Tax Assets And Liabilities [Line Items]
Tax credit carryforwards	2
Deferred tax assets, operating loss carryforwards, not subject to expiration	1,600
Carryforwards that expire
Deferred Tax Assets And Liabilities [Line Items]
Tax credit carryforwards	141
Operating loss carryforwards	496
Other long-term liabilities
Deferred Tax Assets And Liabilities [Line Items]
Deferred tax liabilities	$ (108)	(35)
Accounting Standards Update 2018-05
Deferred Tax Assets And Liabilities [Line Items]
Undistributed earnings of foreign subsidiaries		$ 350		$ 330

Contingencies and Litigation -

Contingencies and Litigation - Brazil Contingencies (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Letters of credit	$ 0	$ 0
Brazil Contingencies
Loss Contingencies [Line Items]
Tax contingency - unreserved	292,000,000	355,000,000
Escrow cash deposits	32,000,000	39,000,000
Surety bonds	96,000,000	112,000,000
Letters of credit	74,000,000	78,000,000
Liens on Brazilian assets	$ 0	$ 0

Contingencies and Litigation _2

Contingencies and Litigation - Narrative (Details) - USD ($) $ in Millions	Dec. 13, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 10, 2021
Loss Contingencies [Line Items]
Product warranty expense		$ 8	$ 8	$ 12
Product warranty accrual		6	$ 6
Xerox Holdings Corporation
Loss Contingencies [Line Items]
Breach of contract, per-occurrence coverage, amount					$ 1,000
Business interruption, projected losses					$ 300
Miami Firefighters' Relief & Pension Fund V. Icahn, Et Al | HP Inc.
Loss Contingencies [Line Items]
Marketable securities, gain (loss)	$ 128
Contractual and Corporate Obligations Guarantee and surety bonds
Loss Contingencies [Line Items]
Guarantor obligations, maximum exposure, undiscounted		$ 292

Preferred Stock (Details)

Preferred Stock (Details) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2021USD ($)votedayclass$ / sharesshares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Class of Stock [Line Items]
Number of classes of stock outstanding | class		1
Preferred stock, carrying value		$ 214	$ 214
Preferred stock, annual dividend	[1]	$ 14	$ 14	$ 14
Initial conversion price per share of common stock (in dollars per share) | $ / shares		$ 26.70
Minimum number of trading days C/S close price must exceed conversion price to trigger Pfd Stock conversion | day		20
Number of trading days used for measurement | day		30
Common Stock
Class of Stock [Line Items]
Preferred stock converted into common shares (in shares) | shares		37.4532
Preferred stock conversion to common stock, shares (in shares) | shares		6,742,000
Maximum common stock closing price, triggering conversion (in dollars per share) | $ / shares		$ 39
Maximum common stock closing price, percent, triggering conversion		146.10%
Series A
Class of Stock [Line Items]
Preferred stock converted into common shares (in shares) | shares		180,000
Preferred stock, aggregate liquidation value		$ 180
Preferred stock, carrying value		$ 214
Preferred stock, dividend rate, percentage		8.00%
Preferred stock, annual dividend		$ 14
Number of votes per ten shares | vote		1
Preferred stock, number of votes if converted | vote		674,157
[1]	Cash dividends declared on preferred stock for 2021, 2020 and 2019 were $20 per share on a quarterly basis and $80 per share on an annual basis.

Shareholders' Equity - Equity S

Shareholders' Equity - Equity Stocks Information (Details)	Dec. 31, 2021$ / sharesshares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	22,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 1
Common stock, authorized (in shares)	437,500,000
Par value of common stock (in dollars per share) | $ / shares	$ 1
Share-based Payment Arrangement
Class of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	25,000,000
Series A
Class of Stock [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	7,000,000

Shareholders' Equity - Treasury

Shareholders' Equity - Treasury Stock (Details) - Treasury Stock - USD ($) shares in Thousands	3 Months Ended
	Dec. 31, 2021	Oct. 31, 2021
Schedule of Common Stock and Treasury Stock [Line Items]
Authorized share repurchase program	$ 500,000,000
Stock repurchase program, remaining authorized repurchase amount	113,000,000
Share Repurchase Program
Schedule of Common Stock and Treasury Stock [Line Items]
Authorized share repurchase program	500,000,000	$ 500,000,000
Share repurchase cost	387,000,000
Share repurchase fees	$ 1,000,000
Number of shares repurchased	19,401
Previous Share Repurchase Program
Schedule of Common Stock and Treasury Stock [Line Items]
Authorized share repurchase program		1,100,000,000
Stock repurchase program, remaining authorized repurchase amount		$ 450,000

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock and Treasury Stock Period Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, authorized (in shares)	437,500,000
Par value of common stock (in dollars per share)	$ 1
Common stock issued (in shares)	168,069,000	198,386,000
Common stock outstanding (in shares)	159,394,000	198,386,000
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	198,386,000	214,621,000	231,690,000
Stock based compensation plans, net	1,206,000	1,390,000	1,310,000
Acquisition of Treasury stock	0	0	0
Cancellation of Treasury stock	(31,523,000)	(17,625,000)	(18,379,000)
Balance, ending	168,069,000	198,386,000	214,621,000
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning	0	2,031,000	2,067,000
Stock based compensation plans, net	0	0	0
Acquisition of Treasury stock	40,198,000	15,594,000	18,343,000
Cancellation of Treasury stock	(31,523,000)	(17,625,000)	(18,379,000)
Balance, ending	8,675,000	0	2,031,000
Xerox Corporation
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, authorized (in shares)	1,000,000,000
Par value of common stock (in dollars per share)	$ 1
Common stock issued (in shares)	100,000,000
Common stock outstanding (in shares)	100,000,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation Details [Line Items]
Number of shares available for grant (shares)	8	11
Restricted Stock Units (RSUs) | 2018 - 2020 Awards | Graded vesting after year one of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)	25.00%
Performance period	1 year
Restricted Stock Units (RSUs) | 2018 - 2020 Awards | Graded vesting after year two of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)	25.00%
Performance period	2 years
Restricted Stock Units (RSUs) | 2018 - 2020 Awards | Graded vesting after year three of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)	50.00%
Performance period	3 years
Restricted Stock Units (RSUs) | Prior to 2018 Awards
Stock-Based Compensation Details [Line Items]
Performance period				3 years
Restricted Stock Units (RSUs) | 2021 Awards | Graded vesting after year one of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)	33.00%
Performance period	1 year
Restricted Stock Units (RSUs) | 2021 Awards | Graded vesting after year two of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)	33.00%
Performance period	2 years
Restricted Stock Units (RSUs) | 2021 Awards | Graded vesting after year three of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)	34.00%
Performance period	3 years
Performance Shares
Stock-Based Compensation Details [Line Items]
Performance period	3 years	2 years	2 years	1 year
Approximation of grant date fair value		50.00%
Performance Shares | Revenue
Stock-Based Compensation Details [Line Items]
Weighting of measurement components (percent)	25.00%
Performance Shares | Free Cash Flow
Stock-Based Compensation Details [Line Items]
Weighting of measurement components (percent)	25.00%
Performance Shares | Absolute Share Price
Stock-Based Compensation Details [Line Items]
Weighting of measurement components (percent)	50.00%
Performance Shares | Performance-Based
Stock-Based Compensation Details [Line Items]
Performance share maximum overachievement	100.00%
Performance Shares | Performance Based - Actual Results
Stock-Based Compensation Details [Line Items]
Performance-based metric performance period (years)	3 years
Performance Shares | TSR
Stock-Based Compensation Details [Line Items]
Performance period	3 years	3 years	3 years	3 years
Total number of trading days of performance period	20 days			3 years
Performance Shares | Minimum
Stock-Based Compensation Details [Line Items]
Performance shares entitlement of original award grant (percent)	0.00%
Performance Shares | Maximum
Stock-Based Compensation Details [Line Items]
Performance shares entitlement of original award grant (percent)	200.00%
Stock options | Graded vesting after year one of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)				25.00%
Performance period				1 year
Stock options | Graded vesting after year two of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)				25.00%
Performance period				2 years
Stock options | Graded vesting after year three of service period
Stock-Based Compensation Details [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights (percent)				50.00%
Performance period				3 years
Options outstanding, term (years)				10 years

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-based compensation expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense, pre-tax	$ 54	$ 42	$ 50
Income tax benefit recognized in earnings	$ 13	$ 11	$ 13

Stock-Based Compensation - Meas

Stock-Based Compensation - Measurement Inputs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Performance Shares
Stock-Based Compensation Details [Line Items]
Term (years)	3 years	2 years	2 years	1 year
Granted (in dollars per share)	$ 24.67	$ 37.59	$ 19.46
Stock options
Stock-Based Compensation Details [Line Items]
Risk-free interest rate (percent)				2.63%
Dividend yield (percent)				3.25%
Historical volatility (percent)				27.25%
Expected term (years)				6 years 1 month 17 days
Weighted average fair value (in dollars per share)	$ 0	$ 0	$ 0	$ 5.71
TSR | Performance Shares
Stock-Based Compensation Details [Line Items]
Term (years)	3 years	3 years	3 years	3 years
Risk-free interest rate (percent)	0.20%	1.60%	2.51%	2.39%
Dividend yield (percent)	4.66%	2.80%	3.97%	3.24%
Historical volatility (percent)	44.76%	29.49%	32.95%	29.12%
Granted (in dollars per share)	$ 25.80	$ 41.28	$ 16.27	$ 32.01

Stock-Based Compensation - Payo

Stock-Based Compensation - Payouts (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
$33.00 and above
Stock-Based Compensation Details [Line Items]
Payout (percent of target)	200.00%
Total Return Targets (in dollars per share)	$ 33
$45.00 and above
Stock-Based Compensation Details [Line Items]
Payout (percent of target)		200.00%
Total Return Targets (in dollars per share)		$ 45
$40.00 and above
Stock-Based Compensation Details [Line Items]
Payout (percent of target)			200.00%
Total Return Targets (in dollars per share)			$ 40
30
Stock-Based Compensation Details [Line Items]
Payout (percent of target)	100.00%		50.00%
Total Return Targets (in dollars per share)	$ 30		$ 30
40
Stock-Based Compensation Details [Line Items]
Payout (percent of target)		100.00%
Total Return Targets (in dollars per share)		$ 40
35
Stock-Based Compensation Details [Line Items]
Payout (percent of target)			100.00%
Total Return Targets (in dollars per share)			$ 35
27
Stock-Based Compensation Details [Line Items]
Payout (percent of target)	50.00%
Total Return Targets (in dollars per share)	$ 27
37
Stock-Based Compensation Details [Line Items]
Payout (percent of target)		50.00%
Total Return Targets (in dollars per share)		$ 37
Below $27.00
Stock-Based Compensation Details [Line Items]
Payout (percent of target)	0.00%
Total Return Targets (in dollars per share)	$ 27
Below $37.00
Stock-Based Compensation Details [Line Items]
Payout (percent of target)		0.00%
Total Return Targets (in dollars per share)		$ 37
Below $30.00
Stock-Based Compensation Details [Line Items]
Payout (percent of target)			0.00%
Total Return Targets (in dollars per share)			$ 30
TSR | Performance Shares | 80th and above
Stock-Based Compensation Details [Line Items]
Payout (percent of target)				200.00%
TSR | Performance Shares | 50th
Stock-Based Compensation Details [Line Items]
Payout (percent of target)				100.00%
TSR | Performance Shares | 25th
Stock-Based Compensation Details [Line Items]
Payout (percent of target)				35.00%
TSR | Performance Shares | Below 25th
Stock-Based Compensation Details [Line Items]
Payout (percent of target)				0.00%

Stock-Based Compensation - Acti

Stock-Based Compensation - Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Unrecognized Compensation	$ 53
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at January 1 (in shares)	3,187	2,845	3,559
Outstanding at January 1 (in dollars per share)	$ 26.48	$ 26.87	$ 29.51
Granted (in shares)	1,513	2,028	1,366
Granted (in dollars per share)	$ 23.37	$ 27.85	$ 23.22
Vested (in shares)	(1,327)	(1,473)	(1,666)
Vested (in dollars per share)	$ 26.07	$ 28.85	$ 29.28
Cancelled/expired (in shares)	(212)	(213)	(414)
Cancelled/expired (in dollars per share)	$ 25.06	$ 28.39	$ 27.85
Outstanding at December 31 (in shares)	3,161	3,187	2,845	3,559
Outstanding at December 31 (in dollars per share)	$ 25.26	$ 26.48	$ 26.87	$ 29.51
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Unrecognized Compensation	$ 40
Remaining Weighted-Average Vesting Period (Years)	1 year 5 months 19 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at January 1 (in shares)	2,425	2,830	2,462
Outstanding at January 1 (in dollars per share)	$ 26.67	$ 24.99	$ 29.83
Granted (in shares)	1,195	901	1,433
Granted (in dollars per share)	$ 24.67	$ 37.59	$ 19.46
Vested (in shares)	(672)	(993)	(633)
Vested (in dollars per share)	$ 28.08	$ 31.94	$ 29.56
Cancelled/expired (in shares)	(130)	(313)	(432)
Cancelled/expired (in dollars per share)	$ 26.92	$ 26.22	$ 27.50
Outstanding at December 31 (in shares)	2,818	2,425	2,830	2,462
Outstanding at December 31 (in dollars per share)	$ 25.47	$ 26.67	$ 24.99	$ 29.83
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Unrecognized Compensation	$ 13
Remaining Weighted-Average Vesting Period (Years)	1 year 8 months 12 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at January 1 (in shares)	799	861	1,022
Outstanding at January 1 (in dollars per share)	$ 27.81	$ 27.83	$ 27.84
Granted (in shares)	0	0	0
Granted (in dollars per share)	$ 0	$ 0	$ 0	$ 5.71
Canceled/expired (in shares)	(187)	(60)	(92)
Canceled/expired (in dollars per share)	$ 27.97	$ 27.98	$ 27.92
Exercised (in shares)	0	(2)	(69)
Exercised (in dollars per share)	$ 0	$ 27.98	$ 27.98
Outstanding at December 31 (in shares)	612	799	861	1,022
Outstanding at December 31 (in dollars per share)	$ 27.77	$ 27.81	$ 27.83	$ 27.84
Exercisable at December 31 (in shares)	612	470	233
Exercisable at December 31 (in dollars per share)	$ 27.77	$ 27.84	$ 27.83
Restricted Stock Award
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted (in shares)			351
Granted (in dollars per share)			$ 28.51
Over-performance of 2018 PSU grant
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Granted (in shares)	60

Share Based Compensation - Stoc

Share Based Compensation - Stock-Based Awards (Details) $ in Millions	Dec. 31, 2021USD ($)
Stock-Based Compensation Details [Line Items]
Aggregate intrinsic value of award outstanding, options	$ 0
Restricted Stock Units (RSUs)
Stock-Based Compensation Details [Line Items]
Aggregate intrinsic value of award outstanding	72
Performance Shares
Stock-Based Compensation Details [Line Items]
Aggregate intrinsic value of award outstanding	$ 64

Stock-Based Compensation - Exer

Stock-Based Compensation - Exercised Stock-Based Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units (RSUs)
Stock-Based Compensation Details [Line Items]
Total Intrinsic Value	$ 30	$ 33	$ 55
Cash Received	0	0	0
Tax Benefit	5	5	11
Performance Shares
Stock-Based Compensation Details [Line Items]
Total Intrinsic Value	17	18	23
Cash Received	0	0	0
Tax Benefit	2	4	6
Stock options
Stock-Based Compensation Details [Line Items]
Cash Received	0	0	2
Tax Benefit	0	0	0
Total Intrinsic Value	$ 0	$ 0	$ 1

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
		Nov. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Translation Adjustments (Losses) Gains	[1]		$ (141)	$ 241	$ 62
Other Comprehensive Income, Net Attributable to Xerox	[1]		344	314	46
Cumulative translation adjustments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate adjustment in period, pre-tax			(145)	238	53
Aggregate adjustment in period, net of tax			(141)	241	45
Divestiture - reclassification, pre-tax			0	0	17
Divestiture - reclassification, net of tax			0	0	17
Translation adjustment (losses) gains, pre-tax			(145)	238	70
Translation Adjustments (Losses) Gains			(141)	241	62
Unrealized Gains (Losses)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Changes in fair value of cash flow hedges gains ,pre-tax			(12)	4	2
Changes in fair value of cash flow hedges gains, after-tax			(9)	3	1
Changes in cash flow hedges reclassed to earnings, pre-tax			7	1	(9)
Changes in cash flow hedges reclassed to earnings, after-tax			5	1	(7)
Other Comprehensive Income (Loss), Pre-tax			(5)	5	(7)
Other Comprehensive Income (Loss), Net of Tax			(4)	4	(6)
Net actuarial/prior service gains (losses)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			537	117	(275)
Other Comprehensive Income (Loss), Net of Tax			409	86	(202)
Prior service amortization/curtailment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			(72)	(80)	(81)
Other Comprehensive Income (Loss), Net of Tax			(54)	(60)	(61)
Actuarial loss amortization/settlement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			132	138	156
Other Comprehensive Income (Loss), Net of Tax			99	104	118
Fuji Xerox changes in defined benefit plans, net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			0	0	8
Other Comprehensive Income (Loss), Net of Tax			0	0	8
Other (losses) gains
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			35	(63)	(21)
Other Comprehensive Income (Loss), Net of Tax			35	(61)	(21)
Divestiture - reclassification
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			0	0	148
Other Comprehensive Income (Loss), Net of Tax			0	0	148
Changes in Defined Benefit Plans Gains (Losses)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other Comprehensive Income (Loss), Pre-tax			632	112	(65)
Other Comprehensive Income (Loss), Net of Tax			489	69	(10)
Other Comprehensive Income (Loss) Attributable to Xerox Holdings/Xerox
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other comprehensive income (loss) attributable to Xerox Holdings/Xerox pre-tax			482	355	(2)
Other Comprehensive Income, Net Attributable to Xerox			$ 344	$ 314	46
Fuji Xerox Co., Ltd. and Xerox International Partners, The Sales | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture - reclassification, pre-tax		$ (165)			$ 165
[1]	Refer to Note 25 - Other Comprehensive Income (Loss) for gross components of Other Comprehensive Income, reclassification adjustments out of Accumulated Other Comprehensive Loss and related tax effects.

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - AOCL (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox	$ 4,443	$ 5,596	$ 5,594	$ 5,039
Cumulative translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox	(1,861)	(1,720)	(1,961)
Other unrealized (losses) gains, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox	(2)	2	(2)
Benefit plans net actuarial losses and prior service credits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox	(1,125)	(1,614)	(1,683)
Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total Accumulated Other Comprehensive Loss Attributable to Xerox Holdings/Xerox	$ (2,988)	$ (3,332)	$ (3,646)

(Loss) Earnings per Share - Rec

(Loss) Earnings per Share - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Basic (Loss) Earnings per Share:
Net (Loss) Income from continuing operations attributable to Xerox Holdings	$ (455)	$ 192	$ 648
Accrued dividends on preferred stock	(14)	(14)	(14)
Adjusted Net (Loss) income from continuing operations available to common shareholders	(469)	178	634
Income from discontinued operations attributable to Xerox Holdings, net of tax	0	0	705
Adjusted Net (Loss) income available to common shareholders	$ (469)	$ 178	$ 1,339
Weighted average common shares outstanding (in shares)	183,168	208,983	221,969
Continuing operations (in dollars per share)	$ (2.56)	$ 0.85	$ 2.86
Discontinued operations (in dollars per share)	0	0	3.17
Total Basic (Loss) Earnings Per Share (in dollars per share)	$ (2.56)	$ 0.85	$ 6.03
Diluted (Loss) Earnings per Share:
Net (Loss) Income from continuing operations attributable to Xerox Holdings	$ (455)	$ 192	$ 648
Accrued dividends on preferred stock	(14)	(14)	0
Adjusted Net (Loss) income from continuing operations available to common shareholders	(469)	178	648
Income from discontinued operations attributable to Xerox Holdings, net of tax	0	0	705
Adjusted Net (Loss) income available to common shareholders	$ (469)	$ 178	$ 1,353
Weighted average common shares outstanding (in shares)	183,168	208,983	221,969
Common shares issuable with respect to:
Adjusted Weighted average common shares outstanding (in shares)	183,168	211,437	233,169
Continuing operations (in dollars per share)	$ (2.56)	$ 0.84	$ 2.78
Discontinued operations (in dollars per share)	0	0	3.02
Total Diluted (Loss) Earnings per Share (in dollars per share)	$ (2.56)	$ 0.84	$ 5.80
Stock options
Common shares issuable with respect to:
Stock options, restricted stock and performance shares (in shares)	0	15	55
Restricted stock and performance shares
Common shares issuable with respect to:
Stock options, restricted stock and performance shares (in shares)	0	2,439	4,403
Convertible preferred stock
Common shares issuable with respect to:
Convertible preferred stock (in shares)	0	0	6,742

(Loss) Earnings per Share - Ant

(Loss) Earnings per Share - Anti-Dilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	13,333	10,699	2,077
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	612	784	805
Restricted stock and performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	5,979	3,173	1,272
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	6,742	6,742	0

(Loss) Earnings per Share - Div

(Loss) Earnings per Share - Dividends per Common Share (Details) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Dividends per common share (in dollars per share)	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 0.25	$ 1	$ 1	$ 1

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	Feb. 23, 2022USD ($)	Feb. 23, 2022CAD ($)	Jan. 31, 2022USD ($)	Dec. 31, 2020USD ($)	Feb. 23, 2022CAD ($)	Sep. 30, 2021USD ($)
Subsequent Event [Line Items]
Secured loan				$ 500		$ 311
Consideration transferred				$ 194
Subsequent Event | Powerland
Subsequent Event [Line Items]
Consideration transferred	$ 60	$ 76
Subsequent Event | Powerland | Future Performance
Subsequent Event [Line Items]
Contingent consideration	$ 22				$ 28
Contingent consideration, term	2 years	2 years
Subsequent Event | Secured Loan Agreement | Special Purpose Entity (SPE)
Subsequent Event [Line Items]
Sale of U.S. based finance receivables			$ 789
Subsequent Event | January 2022 Securitization | Special Purpose Entity (SPE) | Secured Debt
Subsequent Event [Line Items]
Secured loan			$ 668
Initial rate spread			1.40%
Expected life of loan			2 years 6 months
Subsequent Event | December 2020 Securitization | Special Purpose Entity (SPE)
Subsequent Event [Line Items]
Secured loan			$ 248

Schedule II Valuation and Qua_2

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 202	$ 144	$ 148
Additions charged to expense	7	116	46
Amounts (credited) charged to other income statement accounts	5	0	3
Deductions and other, net of recoveries	(38)	(58)	(53)
Balance at end of period	176	202	144
Accounts Receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	69	55	56
Additions charged to expense	8	35	18
Amounts (credited) charged to other income statement accounts	1	0	0
Deductions and other, net of recoveries	(20)	(21)	(19)
Balance at end of period	58	69	55
Finance Receivables
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	133	89	92
Additions charged to expense	(1)	81	28
Amounts (credited) charged to other income statement accounts	4	0	3
Deductions and other, net of recoveries	(18)	(37)	(34)
Balance at end of period	118	133	89
Deferred Tax Assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	396	399	397
Additions charged to expense	(9)	25	16
Amounts (credited) charged to other income statement accounts	(30)	(28)	(14)
Balance at end of period	357	396	399
Xerox Corporation
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	202	144	148
Additions charged to expense	7	116	46
Amounts (credited) charged to other income statement accounts	5	0	3
Deductions and other, net of recoveries	(38)	(58)	(53)
Balance at end of period	176	202	144
Xerox Corporation | Accounts Receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	69	55	56
Additions charged to expense	8	35	18
Amounts (credited) charged to other income statement accounts	1	0	0
Deductions and other, net of recoveries	(20)	(21)	(19)
Balance at end of period	58	69	55
Xerox Corporation | Finance Receivables
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	133	89	92
Additions charged to expense	(1)	81	28
Amounts (credited) charged to other income statement accounts	4	0	3
Deductions and other, net of recoveries	(18)	(37)	(34)
Balance at end of period	118	133	89
Xerox Corporation | Deferred Tax Assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	396	399	397
Additions charged to expense	(9)	25	16
Amounts (credited) charged to other income statement accounts	(30)	(28)	(14)
Balance at end of period	$ 357	$ 396	$ 399