施乐 2025年季度报告

to Large accelerated filer☒Large accelerated filerAccelerated filer☐Accelerated filer Emerging growth company☐Emerging growth companyIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for Xerox Holdings CorporationoXerox CorporationoIndicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Xerox Holdings CorporationYes☐No☒Xerox CorporationYes☐No☒ except as required by law. Throughout this Form 10-Q, references to “Xerox Holdings” refer to Xerox Holdings Corporation and its consolidated Xerox 2025 Form 10-Q FORM 10-QMarch31, 2025 TABLE OF CONTENTS Part I — Financial InformationFinancial Statements (Unaudited) Xerox Holdings Corporation Condensed Consolidated Statements of LossXerox Holdings Corporation Condensed Consolidated Statements of ComprehensiveLossXerox Holdings Corporation Condensed Consolidated Balance SheetsXerox Holdings Corporation Condensed Consolidated Statements of Cash FlowsXerox Corporation Condensed Consolidated Statements of LossXerox Corporation Condensed Consolidated Statements of ComprehensiveLossXerox Corporation Condensed Consolidated Balance SheetsXerox Corporation Condensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsManagement’s Discussion and Analysis of Financial Condition and Results of OperationsCapital Resources and LiquidityFinancial Risk ManagementNon-GAAP Financial MeasuresQuantitative and Qualitative Disclosures About Market RiskControls and ProceduresPart II — Other InformationLegal ProceedingsRisk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationExhibitsSignaturesFor additional information about Xerox Holdings Corporation and Xerox Corporation and access to our Annual Reports toShareholders and SEC filings, free of charge, please visit our website at www.xerox.com/investor. The content of ourwebsite is not incorporated by reference into this combined Form 10-Q unless expressly noted.Xerox 2025 Form 10-Q Increase in other current and long-term assetsIncrease in accounts payable Decrease in accrued compensationDecrease in other current and long-term liabilitiesNet change in income tax assets and liabilities Net change in derivative assets and liabilitiesOther operating, net Net cash used in operating activities(89)Cash Flows from Investing ActivitiesCost of additions to land, buildings, equipment and software(20)Proceeds from sales of businesses and assets27Acquisitions, net of cash acquired1 Cash Flows from Financing ActivitiesProceeds from issuance of long-term debt3Payments on long-term debt(107)Distributions to parent(47) Effect of exchange rate changes on cash, cash equivalents and restricted cash1(Decrease) increase in cash, cash equivalents and restricted cash(240)Cash, cash equivalents and restricted cash at beginning of period630Cash, Cash Equivalents and Restricted Cash at End of Period$390$ The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. Xerox 2025 Form 10-Q NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)(in millions, except per-share data and where otherwise noted) Note 1 –Basis of PresentationReferences 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,” and the“Company” refer collectively to both Xerox Holdings and Xerox unless the context suggests otherwise. References to The accompanying unaudited Condensed Consolidated Financial Statements and footnotes represent the respectiveconsolidated results and financial results of Xerox Holdings and Xerox and all respective companies that each registrant presentation. Refer to theSegmentssection below, and Note 3 - Revenue, for additional information. For convenience and ease of reference, we refer to the financial statement caption “Loss before Income Taxes” as “pre- Notes to the Condensed Consolidated Financial Statements reflect the activity for both Xerox Holdings and Xerox for allperiods presented, unless otherwise noted. SegmentsDuring the first quarter of 2025, the Company updated its determination of reportable segments to align with a change inhow the Chief Operating Decision Maker (CODM), our Chief Executive Officer (CEO), allocates resources and assessesperformance against the Company’s key growth strategies. As such, it was determined that there aretworeportablesegments - Print and Other, and IT Solutions. Prior to this change, the company hadtworeportable segments - Print and Statement of Loss as follows:Three Months EndedMarch 31, 2024PreviouslyReportedReclassificationAs ReportedServices, maintenance, rentals and other$937$42$ Cost of financing27(27) Interim Impairment EvaluationOur