<ARTICLE> CT
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM XEROX CORPORATION'S DECEMBER 31, 1994, FINANCIAL STATEMENTS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               DEC-31-1994
<TOTAL-ASSETS>                                  38,585
<COMMON>                                           107
<PREFERRED-MANDATORY>                               75
<PREFERRED>                                        757
<OTHER-SE>                                       4,070
<TOTAL-LIABILITY-AND-EQUITY>                    38,585
<TOTAL-REVENUES>                                17,837
<INCOME-TAX>                                       551
<INCOME-CONTINUING>                                794
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       794
<EPS-PRIMARY>                                     6.73
<EPS-DILUTED>                                     6.44