falsedesktopDXC2020-09-30000168856820000093{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Securities registered pursuant to Section 12(b) of the Act:\t\t\nTitle of each class\tTrading Symbol(s)\tName of each exchange on which registered\nCommon Stock $0.01 par value per share\tDXC\tNew York Stock Exchange\n2.750% Senior Notes Due 2025\tDXC 25\tNew York Stock Exchange\n1.750% Senior Notes Due 2026\tDXC 26\tNew York Stock Exchange\nSecurities registered pursuant to Section 12(g) of the Act: None\t\t\n", "q10k_tbl_1": "Item\t\tPage\n\tPART I - FINANCIAL INFORMATION\t\n1.\tFinancial Statements (unaudited)\t1\n2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t50\n3.\tQuantitative and Qualitative Disclosures About Market Risk\t69\n4.\tControls and Procedures\t69\n\tPART II - OTHER INFORMATION\t\n1.\tLegal Proceedings\t72\n1A.\tRisk Factors\t72\n2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t73\n3.\tDefaults Upon Senior Securities\t74\n4.\tMine Safety Disclosure\t74\n5.\tOther Information\t74\n6.\tExhibits\t74\n", "q10k_tbl_2": "\tPage\nCondensed Consolidated Statements of Operations for the Three and Six Months Ended September 30 2020 and September 30 2019 (unaudited)\t2\nCondensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended September 30 2020 and September 30 2019 (unaudited)\t3\nCondensed Consolidated Balance Sheets as of September 30 2020 and March 31 2020 (unaudited)\t4\nCondensed Consolidated Statements of Cash Flows for the Six Months Ended September 30 2020 and September 30 2019 (unaudited)\t5\nCondensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended September 30 2020 and September 30 2019 (unaudited)\t6\nNotes to Condensed Consolidated Financial Statements (unaudited)\t\nNote 1-Summary of Significant Accounting Policies\t8\nNote 2-Recent Accounting Pronouncements\t10\nNote 3-Acquisitions\t11\nNote 4-Assets Held for Sale\t13\nNote 5-Loss Per Share\t14\nNote 6-Receivables\t14\nNote 7-Leases\t17\nNote 8-Fair Value\t21\nNote 9-Derivative and Hedging Activities\t22\nNote 10-Intangible Assets\t26\nNote 11-Goodwill\t27\nNote 12-Debt\t28\nNote 13-Revenue\t29\nNote 14-Restructuring Costs\t31\nNote 15-Pension and Other Benefit Plans\t33\nNote 16-Income Taxes\t34\nNote 17-Stockholders' Equity\t35\nNote 18-Stock Incentive Plans\t36\nNote 19-Cash Flows\t38\nNote 20-Segment Information\t39\nNote 21-Commitments and Contingencies\t41\nNote 22-Subsequent Events\t47\n", "q10k_tbl_3": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions except per-share amounts)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nRevenues\t4554\t4851\t9056\t9741\nCosts of services (excludes depreciation and amortization and restructuring costs)\t3563\t3679\t7192\t7301\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t539\t489\t1078\t996\nDepreciation and amortization\t525\t467\t1017\t937\nGoodwill impairment losses\t0\t2887\t0\t2887\nRestructuring costs\t265\t32\t337\t174\nInterest expense\t96\t104\t202\t195\nInterest income\t(25)\t(67)\t(48)\t(97)\nGain on arbitration award\t0\t(632)\t0\t(632)\nOther income net\t(103)\t(109)\t(191)\t(227)\nTotal costs and expenses\t4860\t6850\t9587\t11534\nLoss before income taxes\t(306)\t(1999)\t(531)\t(1793)\nIncome tax (benefit) expense\t(60)\t116\t(86)\t154\nNet loss\t(246)\t(2115)\t(445)\t(1947)\nLess: net (loss) income attributable to non-controlling interest net of tax\t(2)\t4\t4\t9\nNet loss attributable to DXC common stockholders\t(244)\t(2119)\t(449)\t(1956)\nLoss per common share:\t\t\t\t\nBasic\t(0.96)\t(8.19)\t(1.77)\t(7.44)\nDiluted\t(0.96)\t(8.19)\t(1.77)\t(7.44)\n", "q10k_tbl_4": "\t\t\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\t\t\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nNet loss\t\t\t(246)\t(2115)\t(445)\t(1947)\nOther comprehensive loss net of taxes:\t\t\t\t\t\t\n\tForeign currency translation adjustments net of tax (1)\t\t33\t(71)\t30\t(206)\n\tCash flow hedges adjustments net of tax (2)\t\t7\t(2)\t18\t2\n\tAvailable-for-sale securities net of tax (3)\t\t1\t1\t5\t2\n\tPension and other post-retirement benefit plans net of tax:\t\t\t\t\t\n\t\tAmortization of prior service cost net of tax (4)\t(1)\t(3)\t(10)\t(4)\n\tPension and other post-retirement benefit plans net of tax\t\t(1)\t(3)\t(10)\t(4)\nOther comprehensive income (loss) net of taxes\t\t\t40\t(75)\t43\t(206)\nComprehensive loss\t\t\t(206)\t(2190)\t(402)\t(2153)\n\tLess: comprehensive income (loss) attributable to non-controlling interest\t\t1\t6\t6\t(13)\nComprehensive loss attributable to DXC common stockholders\t\t\t(207)\t(2196)\t(408)\t(2140)\n", "q10k_tbl_5": "\tAs of\t\n(in millions except per-share and share amounts)\tSeptember 30 2020\tMarch 31 2020\nASSETS\t\t\nCurrent assets:\t\t\nCash and cash equivalents\t3079\t3679\nReceivables and contract assets net of allowance of $162 and $74\t4194\t4392\nPrepaid expenses\t604\t646\nOther current assets\t335\t270\nAssets held for sale\t125\t0\nTotal current assets\t8337\t8987\nIntangible assets net of accumulated amortization of $4364 and $4347\t4146\t5731\nOperating right-of-use assets net\t1555\t1428\nGoodwill\t725\t2017\nDeferred income taxes net\t292\t265\nProperty and equipment net of accumulated depreciation of $4198 and $3818\t3417\t3547\nOther assets\t4360\t4031\nAssets held for sale - non-current\t2838\t0\nTotal Assets\t25670\t26006\nLIABILITIES and EQUITY\t\t\nCurrent liabilities:\t\t\nShort-term debt and current maturities of long-term debt\t1622\t1276\nAccounts payable\t1345\t1598\nAccrued payroll and related costs\t756\t630\nCurrent operating lease liabilities\t461\t482\nAccrued expenses and other current liabilities\t3203\t2801\nDeferred revenue and advance contract payments\t974\t1021\nIncome taxes payable\t111\t87\nLiabilities related to assets held for sale\t184\t0\nTotal current liabilities\t8656\t7895\nLong-term debt net of current maturities\t8046\t8672\nNon-current deferred revenue\t697\t735\nNon-current operating lease liabilities\t1192\t1063\nNon-current income tax liabilities and deferred tax liabilities\t917\t1157\nOther long-term liabilities\t1325\t1355\nLiabilities related to assets held for sale - non-current\t86\t0\nTotal Liabilities\t20919\t20877\nCommitments and contingencies\t\t\nDXC stockholders' equity:\t\t\nPreferred stock par value $.01 per share 1000000 shares authorized none issued as of September 30 2020 and March 31 2020\t0\t0\nCommon stock par value $.01 per share 750000000 shares authorized 256521547 issued as of September 30 2020 and 255674040 issued as of March 31 2020\t3\t3\nAdditional paid-in capital\t10746\t10714\nAccumulated deficit\t(5631)\t(5177)\nAccumulated other comprehensive loss\t(562)\t(603)\nTreasury stock at cost 2327868 and 2148708 shares as of September 30 2020 and March 31 2020\t(155)\t(152)\nTotal DXC stockholders' equity\t4401\t4785\nNon-controlling interest in subsidiaries\t350\t344\nTotal Equity\t4751\t5129\nTotal Liabilities and Equity\t25670\t26006\n", "q10k_tbl_6": "\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\nCash flows from operating activities:\t\t\nNet loss\t(445)\t(1947)\nAdjustments to reconcile net loss to net cash provided by operating activities:\t\t\nDepreciation and amortization\t1025\t946\nGoodwill impairment losses\t0\t2887\nOperating right-of-use expense\t307\t340\nPension & other post-employment benefits actuarial & settlement losses\t2\t0\nShare-based compensation\t36\t48\nLoss (gain) on dispositions\t14\t(4)\nProvision for losses on accounts receivable\t45\t0\nUnrealized foreign currency exchange gain\t(43)\t(50)\nImpairment losses and contract write-offs\t42\t11\nOther non-cash charges net\t(5)\t(9)\nChanges in assets and liabilities net of effects of acquisitions and dispositions:\t\t\nDecrease in assets\t57\t167\nDecrease in operating lease liability\t(307)\t(340)\nDecrease in other liabilities\t(137)\t(464)\nNet cash provided by operating activities\t591\t1585\nCash flows from investing activities:\t\t\nPurchases of property and equipment\t(156)\t(192)\nPayments for transition and transformation contract costs\t(136)\t(158)\nSoftware purchased and developed\t(102)\t(126)\nPayments for acquisitions net of cash acquired\t(10)\t(1921)\nCash collections related to deferred purchase price receivable\t159\t371\nProceeds from sale of assets\t8\t40\nShort-term investing\t0\t(75)\nOther investing activities net\t3\t14\nNet cash used in investing activities\t(234)\t(2047)\nCash flows from financing activities:\t\t\nBorrowings of commercial paper\t830\t2879\nRepayments of commercial paper\t(508)\t(2866)\nBorrowings under lines of credit\t2500\t0\nRepayment of borrowings under lines of credit\t(2750)\t0\nBorrowings on long-term debt net of discount\t993\t2198\nPrincipal payments on long-term debt\t(1476)\t(519)\nPayments on finance leases and borrowings for asset financing\t(487)\t(421)\nProceeds from stock options and other common stock transactions\t0\t10\nTaxes paid related to net share settlements of share-based compensation awards\t(3)\t(12)\nRepurchase of common stock and advance payment for accelerated share repurchase\t0\t(650)\nDividend payments\t(53)\t(107)\nOther financing activities net\t(9)\t(32)\nNet cash (used in) provided by financing activities\t(963)\t480\nEffect of exchange rate changes on cash and cash equivalents\t9\t(37)\nNet decrease in cash and cash equivalents including cash classified within current assets held for sale\t(597)\t(19)\nLess: cash classified within current assets held for sale\t(3)\t0\nNet decrease in cash and cash equivalents\t(600)\t(19)\nCash and cash equivalents at beginning of year\t3679\t2899\nCash and cash equivalents at end of period\t3079\t2880\n", "q10k_tbl_7": "\tThree Months Ended September 30 2020\t\t\t\t\t\t\t\t\t\n(in millions except shares in thousands)\tCommon Stock\t\t\tAdditional Paid-in Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Loss\tTreasury Stock (1)\tTotal DXC Equity\tNon- Controlling Interest\tTotal Equity\nShares\t\tAmount\nBalance at June 30 2020\t256383\t\t3\t10729\t(5386)\t(599)\t(154)\t4593\t349\t4942\nNet loss\t\t\t\t\t(244)\t\t\t(244)\t(2)\t(246)\nOther comprehensive income\t\t\t\t\t\t37\t\t37\t3\t40\nShare-based compensation expense\t\t\t\t17\t\t\t\t17\t\t17\nAcquisition of treasury stock\t\t\t\t\t\t\t(1)\t(1)\t\t(1)\nStock option exercises and other common stock transactions\t139\t\t\t\t\t\t\t0\t\t0\nNon-controlling interest distributions and other\t\t\t\t\t(1)\t\t\t(1)\t\t(1)\nBalance at September 30 2020\t256522\t\t3\t10746\t(5631)\t(562)\t(155)\t4401\t350\t4751\n\tThree Months Ended September 30 2019\t\t\t\t\t\t\t\t\t\n(in millions except shares in thousands)\tCommon Stock\t\t\tAdditional Paid-in Capital\tRetained Earnings\tAccumulated Other Comprehensive Loss\tTreasury Stock\tTotal DXC Equity\tNon- Controlling Interest\tTotal Equity\nShares\t\tAmount\nBalance at June 30 2019\t263709\t\t3\t10916\t494\t(351)\t(149)\t10913\t304\t11217\nNet loss\t\t\t\t\t(2119)\t\t\t(2119)\t4\t(2115)\nOther comprehensive loss\t\t\t\t\t\t(77)\t\t(77)\t2\t(75)\nShare-based compensation expense\t\t\t\t31\t\t\t\t31\t\t31\nAcquisition of treasury stock\t\t\t\t\t\t\t(1)\t(1)\t\t(1)\nShare repurchase program\t(6220)\t\t\t(161)\t11\t\t\t(150)\t\t(150)\nStock option exercises and other common stock transactions\t137\t\t\t7\t\t\t\t7\t\t7\nDividends declared ($0.21 per share)\t\t\t\t\t(54)\t\t\t(54)\t\t(54)\nNon-controlling interest distributions and other\t\t\t\t\t\t\t\t0\t10\t10\nBalance at September 30 2019\t257626\t\t3\t10793\t(1668)\t(428)\t(150)\t8550\t320\t8870\n", "q10k_tbl_8": "\tSix Months Ended September 30 2020\t\t\t\t\t\t\t\t\t\n(in millions except shares in thousands)\tCommon Stock\t\t\tAdditional Paid-in Capital\tAccumulated Deficit\tAccumulated Other Comprehensive Loss\tTreasury Stock (1)\tTotal DXC Equity\tNon- Controlling Interest\tTotal Equity\nShares\t\tAmount\nBalance at March 31 2020\t255674\t\t3\t10714\t(5177)\t(603)\t(152)\t4785\t344\t5129\nCumulative effect of adopting ASU 2016-13\t\t\t\t\t(4)\t\t\t(4)\t\t(4)\nNet loss\t\t\t\t\t(449)\t\t\t(449)\t4\t(445)\nOther comprehensive income\t\t\t\t\t\t41\t\t41\t2\t43\nShare-based compensation expense\t\t\t\t32\t\t\t\t32\t\t32\nAcquisition of treasury stock\t\t\t\t\t\t\t(3)\t(3)\t\t(3)\nStock option exercises and other common stock transactions\t848\t\t\t\t\t\t\t0\t\t0\nNon-controlling interest distributions and other\t\t\t\t\t(1)\t\t\t(1)\t\t(1)\nBalance at September 30 2020\t256522\t\t3\t10746\t(5631)\t(562)\t(155)\t4401\t350\t4751\n\tSix Months Ended September 30 2019\t\t\t\t\t\t\t\t\t\n(in millions except shares in thousands)\tCommon Stock\t\t\tAdditional Paid-in Capital\tRetained Earnings (Accumulated Deficit)\tAccumulated Other Comprehensive Loss\tTreasury Stock\tTotal DXC Equity\tNon- Controlling Interest\tTotal Equity\nShares\t\tAmount\nBalance at March 31 2019\t270214\t\t3\t11301\t478\t(244)\t(136)\t11402\t323\t11725\nNet loss\t\t\t\t\t(1956)\t\t\t(1956)\t9\t(1947)\nOther comprehensive loss\t\t\t\t\t\t(184)\t\t(184)\t(22)\t(206)\nShare-based compensation expense\t\t\t\t49\t\t\t\t49\t\t49\nAcquisition of treasury stock\t\t\t\t\t\t\t(14)\t(14)\t\t(14)\nShare repurchase program\t(13580)\t\t\t(571)\t(79)\t\t\t(650)\t\t(650)\nStock option exercises and other common stock transactions\t992\t\t\t14\t\t\t\t14\t\t14\nDividends declared ($0.42 per share)\t\t\t\t\t(111)\t\t\t(111)\t\t(111)\nNon-controlling interest distributions and other\t\t\t\t\t\t\t\t0\t10\t10\nBalance at September 30 2019\t257626\t\t3\t10793\t(1668)\t(428)\t(150)\t8550\t320\t8870\n", "q10k_tbl_9": "Date Issued and ASU\tDate Adopted and Method\tDescription\tImpact\nJune 2016 ASU 2016-13 \"Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments\"\tApril 1 2020 Modified Retrospective\tThis update requires the measurement and recognition of expected credit losses using the current expected credit loss model for financial assets held at amortized cost which includes the Company's trade accounts receivable certain financial instruments and contract assets. It replaces the existing incurred loss impairment model with an expected loss methodology. The recorded credit losses are adjusted each period for changes in expected lifetime credit losses. The standard requires a cumulative effect adjustment to the statement of financial position as of the beginning of the first reporting period in which the guidance is effective.\tThe Company adopted this standard using the modified retrospective approach and recorded an immaterial cumulative effect adjustment in retained earnings as of April 1 2020.\nAugust 2018 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\"\tApril 1 2020 Prospective\tThis update helps entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. Entities have the option to apply this standard prospectively to all implementation costs incurred after the date of adoption or retrospectively.\tThe Company adopted this standard using the prospective method and determined that the adoption of ASU 2018-15 had no material impact to its condensed consolidated financial statements.\n", "q10k_tbl_10": "Date Issued and ASU\tDXC Effective Date\tDescription\tImpact\nDecember 2019 ASU 2019-12 \"Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes\"\tFiscal 2022\tThis update is intended to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. Early adoption of this update is permitted.\tThe Company is currently evaluating the potential impact this standard may have on its financial statements in future reporting periods.\n", "q10k_tbl_11": "(in millions)\tFair Value\nCash and cash equivalents\t113\nAccounts receivable\t233\nOther current assets\t15\nTotal current assets\t361\nProperty and equipment\t31\nIntangible assets\t577\nOther assets\t99\nTotal assets acquired\t1068\nAccounts payable accrued payroll accrued expenses and other current liabilities\t(121)\nDeferred revenue\t(8)\nLong-term deferred tax liabilities and income tax payable\t(106)\nOther liabilities\t(72)\nTotal liabilities assumed\t(307)\nNet identifiable assets acquired\t761\nGoodwill\t1262\nTotal consideration transferred\t2023\n", "q10k_tbl_12": "(in millions)\tSeptember 30 2020\nAssets:\t\nCash and cash equivalents\t3\nAccounts receivable net\t74\nPrepaid expenses\t38\nOther current assets\t2\nTotal current assets held for sale\t117\nIntangible assets net\t1308\nOperating right-of-use assets net\t74\nGoodwill\t1354\nProperty and equipment net\t43\nOther assets\t53\nTotal non-current assets held for sale\t2832\nTotal assets acquired\t2949\nLiabilities:\t\nAccounts payable\t79\nAccrued payroll and related costs\t13\nCurrent operating lease liabilities\t27\nAccrued expenses and other current liabilities\t38\nDeferred revenue and advance contract payments\t20\nTotal current liabilities related to assets held for sale\t177\nNon-current deferred revenue\t32\nLong-term operating lease liabilities\t48\nOther long term liabilities\t2\nTotal long-term liabilities related to assets held for sale\t82\nTotal liabilities related to assets held for sale\t259\n", "q10k_tbl_13": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions except per-share amounts)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nNet loss attributable to DXC common shareholders:\t(244)\t(2119)\t(449)\t(1956)\nCommon share information:\t\t\t\t\nWeighted average common shares outstanding for basic and diluted net loss per share\t254.13\t258.71\t253.88\t262.83\nNet loss per share:\t\t\t\t\nBasic and diluted\t(0.96)\t(8.19)\t(1.77)\t(7.44)\n", "q10k_tbl_14": "\tThree Months Ended\t\tSix Months Ended\t\n\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nStock Options\t1625591\t765883\t1735395\t979644\nRestricted Stock Units\t2598301\t2354528\t2554090\t1180177\nPerformance-based Restricted Stock Units\t83125\t434862\t158444\t437507\n", "q10k_tbl_15": "(in millions)\tAs of and for the Three Months Ended\tAs of and for the Six Months Ended\n\tSeptember 30 2019\tSeptember 30 2019\nBeginning balance\t525\t574\nTransfers of receivables\t0\t1214\nCollections\t0\t(1265)\nChange in funding availability\t0\t2\nFacility amendments\t(525)\t(525)\nEnding balance\t0\t0\n", "q10k_tbl_16": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nOperating lease cost\t151\t164\t307\t340\nShort-term lease cost\t11\t14\t26\t24\nVariable lease cost\t15\t11\t23\t26\nSublease income\t(10)\t(10)\t(22)\t(19)\nTotal operating costs\t167\t179\t334\t371\nFinance lease cost:\t\t\t\t\nAmortization of right-of-use assets\t99\t140\t215\t249\nInterest on lease liabilities\t11\t17\t25\t34\nTotal finance lease cost\t110\t157\t240\t283\n", "q10k_tbl_17": "(in millions)\tSix Months Ended September 30 2020\tSix Months Ended September 30 2019\nCash paid for amounts included in the measurement of:\t\t\nOperating cash flows used in operating leases\t307\t340\nOperating cash flows used in finance leases\t25\t34\nFinancing cash flows used in finance leases\t285\t279\n", "q10k_tbl_18": "\t\tAs of\t\n(in millions)\tBalance Sheet Line Item\tSeptember 30 2020\tMarch 31 2020\nAssets:\t\t\t\nROU operating lease assets\tOperating right-of-use assets net\t1555\t1428\nROU finance lease assets\tProperty and Equipment net\t1098\t1220\nTotal\t\t2653\t2648\nLiabilities:\t\t\t\nCurrent\t\t\t\nOperating lease\tCurrent operating lease liabilities\t461\t482\nFinance lease\tShort-term debt and current maturities of long-term debt\t440\t444\nTotal\t\t901\t926\nNon-current\t\t\t\nOperating lease\tNon-current operating lease liabilities\t1192\t1063\nFinance lease\tLong-term debt net of current maturities\t568\t602\nTotal\t\t1760\t1665\n", "q10k_tbl_19": "\tAs of\t\n\tSeptember 30 2020\tMarch 31 2020\nWeighted Average remaining lease term:\tYears\t\nOperating leases\t4.7\t4.8\nFinance leases\t2.7\t2.7\nWeighted average remaining discount rate:\tRate\t\nOperating leases\t4.0%\t4.0%\nFinance leases\t4.0%\t6.4%\n", "q10k_tbl_20": "Fiscal year\tOperating Leases\t\t\n(in millions)\tReal Estate\tEquipment\tFinance Leases\nRemainder of 2021\t244\t28\t246\n2022\t419\t34\t393\n2023\t340\t17\t250\n2024\t262\t9\t121\n2025\t188\t5\t35\nThereafter\t279\t3\t3\nTotal lease payments\t1732\t96\t1048\nLess: imputed interest\t(171)\t(4)\t(40)\nTotal payments\t1561\t92\t1008\n", "q10k_tbl_21": "\tFair Value Hierarchy\t\t\t\n(in millions)\tSeptember 30 2020\t\t\t\nAssets:\tFair Value\tLevel 1\tLevel 2\tLevel 3\nMoney market funds and money market deposit accounts\t5\t5\t0\t0\nTime deposits(1)\t367\t367\t0\t0\nOther debt securities(2)\t59\t0\t56\t3\nTotal assets\t431\t372\t56\t3\nLiabilities:\t\t\t\t\nContingent consideration\t51\t0\t0\t51\nTotal liabilities\t51\t0\t0\t51\n", "q10k_tbl_22": "\tMarch 31 2020\t\t\t\nAssets:\tFair Value\tLevel 1\tLevel 2\tLevel 3\nMoney market funds and money market deposit accounts\t156\t156\t0\t0\nTime deposits(1)\t595\t595\t0\t0\nOther debt securities(2)\t51\t0\t48\t3\nDeferred purchase price receivable\t103\t0\t0\t103\nTotal assets\t905\t751\t48\t106\nLiabilities:\t\t\t\t\nContingent consideration\t46\t0\t0\t46\nTotal liabilities\t46\t0\t0\t46\n", "q10k_tbl_23": "\t\tFor the Three Months Ended\t\tFor the Six Months Ended\t\n(in millions)\tStatement of Operations Line Item\t\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\t\t\t\tSeptember 30 2019\t\t\nForeign currency forward contracts\tOther expense (income) net\t\t33\t(41)\t58\t\t\t\t(22)\t\t\n", "q10k_tbl_24": "\tDerivative Assets\t\t\n\t\tAs of\t\t\t\t\t\t\t\n(in millions)\tBalance Sheet Line Item\tSeptember 30 2020\tMarch 31 2020\t\t\t\t\t\t\t\t\t\t\t\t\nDerivatives designated for hedge accounting:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nForeign currency forward contracts\tOther current assets\t5\t0\t\t\t\t\t\t\t\t\t\t\t\t\nTotal fair value of derivatives designated for hedge accounting\t\t5\t0\t\t\t\t\t\t\t\t\t\t\t\t\nDerivatives not designated for hedge accounting:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nForeign currency forward contracts\tOther current assets\t3\t16\t\t\t\t\t\t\t\t\t\t\t\t\nTotal fair value of derivatives not designated for hedge accounting\t\t3\t16\t\t\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_25": "\tDerivative Liabilities\t\t\n\t\t\tAs of\t\t\t\t\t\t\n(in millions)\t\t\tBalance Sheet Line Item\t\t\t\tSeptember 30 2020\t\t\t\t\t\tMarch 31 2020\t\t\nDerivatives designated for hedge accounting:\t\t\nForeign currency forward contracts\t\t\tAccrued expenses and other current liabilities\t\t\t\t2\t\t\t\t\t\t20\t\t\nTotal fair value of derivatives designated for hedge accounting:\t2\t20\nDerivatives not designated for hedge accounting:\t\t\nForeign currency forward contracts\t\t\tAccrued expenses and other current liabilities\t\t\t\t7\t\t\t\t\t\t12\t\t\nTotal fair value of derivatives not designated for hedge accounting\t7\t12\n", "q10k_tbl_26": "\tAs of September 30 2020\t\t\n(in millions)\tGross Carrying Value\tAccumulated Amortization\tNet Carrying Value\nSoftware\t4006\t2819\t1187\nCustomer related intangible assets\t4246\t1502\t2744\nOther intangible assets\t258\t43\t215\nTotal intangible assets\t8510\t4364\t4146\n", "q10k_tbl_27": "\tAs of March 31 2020\t\t\n(in millions)\tGross Carrying Value\tAccumulated Amortization\tNet Carrying Value\nSoftware\t4048\t2614\t1434\nCustomer related intangible assets\t5795\t1697\t4098\nOther intangible assets\t235\t36\t199\nTotal intangible assets\t10078\t4347\t5731\n", "q10k_tbl_28": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nIntangible asset amortization\t258\t239\t511\t475\nTransition and transformation contract cost amortization(1)\t67\t59\t128\t126\nTotal amortization expense\t325\t298\t639\t601\n", "q10k_tbl_29": "Fiscal Year\t(in millions)\nRemainder of 2021\t458\n2022\t820\n2023\t755\n2024\t625\n2025\t573\n", "q10k_tbl_30": "(in millions)\tGBS\tGIS\tTotal\nGoodwill gross\t6507\t5066\t11573\nAccumulated impairment losses\t(4490)\t(5066)\t(9556)\nBalance as of March 31 2020 net\t2017\t0\t2017\nAcquisition related adjustments\t23\t0\t23\nForeign currency translation\t39\t0\t39\nAssets held for sale\t(1354)\t0\t(1354)\nGoodwill gross\t5215\t5066\t10281\nAccumulated impairment losses\t(4490)\t(5066)\t(9556)\nBalance as of September 30 2020 net\t725\t0\t725\n", "q10k_tbl_31": "(in millions)\tInterest Rates\tFiscal Year Maturities\tSeptember 30 2020\tMarch 31 2020\nShort-term debt and current maturities of long-term debt\t\t\t\t\nCommercial paper(1)\t(0.22)% - 0.44%\t2021 - 2022\t900\t542\nCurrent maturities of long-term debt\tVarious\t2021 - 2022\t282\t290\nCurrent maturities of finance lease liabilities\t0.62% - 18.47%\t2021 - 2022\t440\t444\nShort-term debt and current maturities of long-term debt\t\t\t1622\t1276\nLong-term debt net of current maturities\t\t\t\t\nAUD term loan\t0.94% - 0.96%(2)\t2022\t358\t489\nGBP term loan\t0.88% - 1.46%\t2022\t0\t556\nEUR term loan\t0.65%(3)\t2022 - 2023\t292\t822\nEUR term loan\t0.80%(4)\t2023 - 2024\t876\t821\nUSD term loan\t1.40% - 2.24%(5)\t2025\t380\t480\n274 million Senior notes\t4.45%\t2023\t276\t276\n171 million Senior notes\t4.45%\t2023\t172\t172\n500 million Senior notes\t4.25%\t2025\t504\t505\n500 million Senior notes\t4.00%\t2024\t497\t0\n500 million Senior notes\t4.13%\t2026\t496\t0\n£250 million Senior notes\t2.75%\t2025\t320\t307\n€650 million Senior notes\t1.75%\t2026\t758\t709\n500 million Senior notes\t4.75%\t2028\t507\t507\n234 million Senior notes\t7.45%\t2030\t270\t271\nRevolving credit facility\t1.26% - 2.08%\t2024 - 2025\t1250\t1500\nLease credit facility\t1.15% - 1.99%\t2021 - 2023\t6\t11\nFinance lease liabilities\t0.62% - 18.47%\t2021 - 2027\t1008\t1046\nBorrowings for assets acquired under long-term financing\t0.00% - 6.39%\t2021 - 2028\t730\t802\nMandatorily redeemable preferred stock outstanding\t6.00%\t2023\t63\t62\nOther borrowings\tVarious\t2021 - 2022\t5\t70\nLong-term debt\t\t\t8768\t9406\nLess: current maturities\t\t\t722\t734\nLong-term debt net of current maturities\t\t\t8046\t8672\n", "q10k_tbl_32": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nUnited States\t1666\t1806\t3375\t3657\nUnited Kingdom\t579\t678\t1152\t1393\nOther Europe\t1244\t1260\t2449\t2490\nAustralia\t390\t366\t751\t739\nOther International\t675\t741\t1329\t1462\nTotal Revenues\t4554\t4851\t9056\t9741\n", "q10k_tbl_33": "\tAs of\t\n(in millions)\tSeptember 30 2020\tMarch 31 2020\nTrade receivables net\t2950\t3059\nContract assets\t413\t454\nContract liabilities\t1671\t1756\n", "q10k_tbl_34": "\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\nBalance beginning of period\t1756\t1886\nDeferred revenue\t1355\t1400\nRecognition of deferred revenue\t(1432)\t(1416)\nCurrency translation adjustment\t80\t(48)\nOther(1)\t(88)\t(22)\nBalance end of period\t1671\t1800\n", "q10k_tbl_35": "\tRestructuring Liability as of March 31 2020\tCosts Expensed Net of Reversals(1)\tCosts Not Affecting Restructuring Liability(2)\tCash Paid\tOther(3)\tRestructuring Liability as of September 30 2020\nFiscal 2021 Plan\t\t\t\t\t\t\nWorkforce Reductions\t0\t340\t(4)\t(89)\t0\t247\nFacilities Costs\t0\t13\t(4)\t(6)\t0\t3\nTotal\t0\t353\t(8)\t(95)\t0\t250\nFiscal 2020 Plan\t\t\t\t\t\t\nWorkforce Reductions\t74\t(5)\t2\t(38)\t4\t37\nFacilities Costs\t2\t(4)\t4\t(2)\t0\t0\nTotal\t76\t(9)\t6\t(40)\t4\t37\nFiscal 2019 Plan\t\t\t\t\t\t\nWorkforce Reductions\t25\t(3)\t(2)\t(9)\t1\t12\nFacilities Costs\t5\t(3)\t2\t0\t1\t5\nTotal\t30\t(6)\t0\t(9)\t2\t17\nOther Prior Year Plans\t\t\t\t\t\t\nWorkforce Reductions\t24\t0\t3\t(11)\t2\t18\nFacilities Costs\t0\t0\t0\t0\t0\t0\nTotal\t24\t0\t3\t(11)\t2\t18\nAcquired Liabilities\t\t\t\t\t\t\nWorkforce Reductions\t39\t0\t0\t(3)\t0\t36\nFacilities Costs\t11\t(1)\t1\t(2)\t(2)\t7\nTotal\t50\t(1)\t1\t(5)\t(2)\t43\n", "q10k_tbl_36": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nService cost\t23\t23\t45\t46\nInterest cost\t61\t57\t119\t117\nExpected return on assets\t(161)\t(154)\t(314)\t(315)\nAmortization of prior service costs\t(2)\t(2)\t(4)\t(4)\nContractual termination benefit\t3\t6\t3\t17\nCurtailment gain\t0\t0\t(9)\t0\nRecognition of actuarial loss\t0\t0\t11\t0\nNet periodic pension income\t(76)\t(70)\t(149)\t(139)\n", "q10k_tbl_37": "\tFiscal 2020\t\nFiscal Period\t\tNumber of Shares Repurchased\t\t\t\tAverage Price Per Share\t\t\t\t\t\tAmount (in millions)\t\t\n1st Quarter\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOpen market purchases\t\t5510415\t\t\t\t54.44\t\t\t\t\t\t300\t\t\nAccelerated stock repurchases\t\t1849194\t\t\t\t54.08\t\t\t\t\t\t100\t\t\n1st Quarter Total\t\t7359609\t\t\t\t54.35\t\t\t\t\t\t400\t\t\n2nd Quarter\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOpen market purchases\t\t4414840\t\t\t\t33.96\t\t\t\t\t\t150\t\t\nAccelerated stock repurchases\t\t1805350\t\t\t\t55.39\t\t\t\t\t\t100\t\t\n2nd Quarter Total\t\t6220190\t\t\t\t40.18\t\t\t\t\t\t250\t\t\nTotal\t\t13579799\t\t\t\t47.86\t\t\t\t\t\t650\t\t\n", "q10k_tbl_38": "(in millions)\tForeign Currency Translation Adjustments\tCash Flow Hedges\tAvailable-for-sale Securities\tPension and Other Post-retirement Benefit Plans\tAccumulated Other Comprehensive Loss\nBalance at March 31 2020\t(851)\t(20)\t9\t259\t(603)\nCurrent-period other comprehensive income\t28\t12\t5\t0\t45\nAmounts reclassified from accumulated other comprehensive loss\t0\t6\t0\t(10)\t(4)\nBalance at September 30 2020\t(823)\t(2)\t14\t249\t(562)\n", "q10k_tbl_39": "(in millions)\tForeign Currency Translation Adjustments\tCash Flow Hedges\tAvailable-for-sale Securities\tPension and Other Post-retirement Benefit Plans\tAccumulated Other Comprehensive Loss\nBalance at March 31 2019\t(517)\t(3)\t9\t267\t(244)\nCurrent-period other comprehensive loss\t(184)\t2\t2\t0\t(180)\nAmounts reclassified from accumulated other comprehensive income (loss)\t0\t0\t0\t(4)\t(4)\nBalance at September 30 2019\t(701)\t(1)\t11\t263\t(428)\n", "q10k_tbl_40": "\tAs of September 30 2020\t\n\tReserved for Issuance\tAvailable for Future Grants\nDXC Employee Equity Plan\t51200000\t31705400\nDXC Director Equity Plan\t745000\t435951\nDXC Share Purchase Plan\t250000\t177417\nTotal\t52195000\t32318768\n", "q10k_tbl_41": "\tNumber of Option Shares\tWeighted Average Exercise Price\tWeighted Average Remaining Contractual Term\tAggregate Intrinsic Value (in millions)\nOutstanding as of March 31 2020\t1869815\t29.92\t4.27\t0\nGranted\t0\t0\t\t\nExercised\t(4328)\t12.30\t\t0\nCanceled/Forfeited\t0\t0\t\t\nExpired\t(71930)\t31.05\t\t\nOutstanding as of September 30 2020\t1793557\t29.91\t3.89\t1\nVested and exercisable as of September 30 2020\t1793557\t29.91\t3.89\t1\n", "q10k_tbl_42": "\tEmployee Equity Plan\t\tDirector Equity Plan\t\n\tNumber of Shares\tWeighted Average Grant Date Fair Value\tNumber of Shares\tWeighted Average Grant Date Fair Value\nOutstanding as of March 31 2020\t4174476\t55.45\t114615\t37.69\nGranted\t7447198\t17.05\t118500\t18.82\nSettled\t(802392)\t57.46\t(47090)\t27.28\nCanceled/Forfeited\t(755601)\t36.90\t0\t0\nOutstanding as of September 30 2020\t10063681\t27.55\t186025\t28.31\n", "q10k_tbl_43": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\t\t\t\t\t\t\nTotal share-based compensation cost\t20\t30\t36\t48\t\t\t\t\t\t\nRelated income tax benefit\t3\t7\t5\t11\t\t\t\t\t\t\nTotal intrinsic value of options exercised\t0\t1\t0\t7\t\t\t\t\t\t\nTax benefits from exercised stock options and awards\t1\t1\t4\t10\t\t\t\t\t\t\n", "q10k_tbl_44": "\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\nCash paid for:\t\t\nInterest\t168\t178\nTaxes on income net of refunds (1)\t84\t130\nNon-cash activities:\t\t\nOperating:\t\t\nROU assets obtained in exchange for lease net (2)\t410\t142\nPrepaid assets acquired under long-term financing\t43\t14\nInvesting:\t\t\nCapital expenditures in accounts payable and accrued expenses\t46\t92\nCapital expenditures through finance lease obligations\t205\t380\nAssets acquired under long-term financing\t10\t248\n(Decrease) increase in deferred purchase price receivable\t(52)\t(204)\nContingent consideration\t3\t0\nFinancing:\t\t\nDividends declared but not yet paid\t0\t55\n", "q10k_tbl_45": "(in millions)\tGBS\tGIS\tTotal Reportable Segments\tAll Other\tTotals\nThree Months Ended September 30 2020\t\t\t\t\t\nRevenues\t2242\t2312\t4554\t0\t4554\nSegment profit\t317\t36\t353\t(70)\t283\nDepreciation and amortization(1)\t59\t291\t350\t23\t373\nThree Months Ended September 30 2019\t\t\t\t\t\nRevenues\t2285\t2566\t4851\t0\t4851\nSegment profit\t359\t243\t602\t(73)\t529\nDepreciation and amortization(1)\t39\t252\t291\t25\t316\n", "q10k_tbl_46": "(in millions)\tGBS\tGIS\tTotal Reportable Segments\tAll Other\tTotals\nSix Months Ended September 30 2020\t\t\t\t\t\nRevenues\t4416\t4640\t9056\t0\t9056\nSegment profit\t532\t59\t591\t(118)\t473\nDepreciation and amortization(1)\t109\t558\t667\t50\t717\nSix Months Ended September 30 2019\t\t\t\t\t\nRevenues\t4444\t5297\t9741\t0\t9741\nSegment profit\t725\t583\t1308\t(127)\t1181\nDepreciation and amortization(1)\t67\t527\t594\t54\t648\n", "q10k_tbl_47": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nProfit\t\t\t\t\nTotal profit for reportable segments\t353\t602\t591\t1308\nAll other loss\t(70)\t(73)\t(118)\t(127)\nInterest income\t25\t67\t48\t97\nInterest expense\t(96)\t(104)\t(202)\t(195)\nRestructuring costs\t(265)\t(32)\t(337)\t(174)\nTransaction separation and integration-related costs\t(101)\t(53)\t(211)\t(158)\nAmortization of acquired intangible assets\t(152)\t(151)\t(300)\t(289)\nPension and OPEB actuarial and settlement losses\t0\t0\t(2)\t0\nGoodwill impairment losses\t0\t(2887)\t0\t(2887)\nGain on arbitration award\t0\t632\t0\t632\nLoss before income taxes\t(306)\t(1999)\t(531)\t(1793)\n", "q10k_tbl_48": "Fiscal year\tMinimum Purchase Commitment\n(in millions)\nRemainder of 2021\t1558\n2022\t1047\n2023\t860\n2024\t269\n2025\t25\nTotal\t3759\n", "q10k_tbl_49": "(in millions)\tRemainder of Fiscal 2021\tFiscal 2022\tFiscal 2023 and Thereafter\tTotals\nSurety bonds\t38\t262\t86\t386\nLetters of credit\t58\t135\t462\t655\nStand-by letters of credit\t61\t15\t24\t100\nTotals\t157\t412\t572\t1141\n", "q10k_tbl_50": "\tThree Months Ended\t\tSix Months Ended\t\n(In millions except per-share amounts)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nRevenues\t4554\t4851\t9056\t9741\nLoss before income taxes\t(306)\t(1999)\t(531)\t(1793)\nIncome tax (benefit) expense\t(60)\t116\t(86)\t154\nNet loss\t(246)\t(2115)\t(445)\t(1947)\nDiluted loss per share:\t(0.96)\t(8.19)\t(1.77)\t(7.44)\n", "q10k_tbl_51": "\tThree Months Ended\t\t\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tChange\tPercentage Change\nGBS\t2242\t2285\t(43)\t(1.9)%\nGIS\t2312\t2566\t(254)\t(9.9)%\nTotal Revenues\t4554\t4851\t(297)\t(6.1)%\n", "q10k_tbl_52": "\tSix Months Ended\t\t\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tChange\tPercentage Change\nGBS\t4416\t4444\t(28)\t(0.6)%\nGIS\t4640\t5297\t(657)\t(12.4)%\nTotal Revenues\t9056\t9741\t(685)\t(7.0)%\n", "q10k_tbl_53": "\tThree Months Ended\t\t\t\n(in millions)\tConstant Currency September 30 2020\tSeptember 30 2019\tChange\tPercentage Change\nGBS\t2207\t2285\t(78)\t(3.4)%\nGIS\t2269\t2566\t(297)\t(11.6)%\nTotal\t4476\t4851\t(375)\t(7.7)%\n", "q10k_tbl_54": "\tSix Months Ended\t\t\t\n(in millions)\tConstant Currency September 30 2020\tSeptember 30 2019\tChange\tPercentage Change\nGBS\t4419\t4444\t(25)\t(0.6)%\nGIS\t4660\t5297\t(637)\t(12.0)%\nTotal\t9079\t9741\t(662)\t(6.8)%\n", "q10k_tbl_55": "\tThree Months Ended\t\t\t\t\n\tAmount\t\tPercentage of Revenues\t\tPercentage Point Change\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nCosts of services (excludes depreciation and amortization and restructuring costs)\t3563\t3679\t78.3%\t75.8%\t2.5\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t539\t489\t11.8\t10.1\t1.7\nDepreciation and amortization\t525\t467\t11.5\t9.6\t1.9\nGoodwill impairment losses\t0\t2887\t0\t59.5\t(59.5)\nRestructuring costs\t265\t32\t5.8\t0.7\t5.1\nInterest expense\t96\t104\t2.1\t2.1\t0\nInterest income\t(25)\t(67)\t(0.5)\t(1.4)\t0.9\nGain on arbitration award\t0\t(632)\t0\t(13.0)\t13.0\nOther income net\t(103)\t(109)\t(2.3)\t(2.2)\t(0.1)\nTotal costs and expenses\t4860\t6850\t106.7%\t141.2%\t(34.5)\n", "q10k_tbl_56": "\tSix Months Ended\t\t\t\t\n\tAmount\t\tPercentage of Revenues\t\tPercentage Point Change\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nCosts of services (excludes depreciation and amortization and restructuring costs)\t7192\t7301\t79.5%\t75.0%\t4.5\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t1078\t996\t11.9\t10.2\t1.7\nDepreciation and amortization\t1017\t937\t11.2\t9.6\t1.6\nGoodwill impairment losses\t0\t2887\t0\t29.6\t(29.6)\nRestructuring costs\t337\t174\t3.7\t1.8\t1.9\nInterest expense\t202\t195\t2.2\t2.0\t0.2\nInterest income\t(48)\t(97)\t(0.5)\t(1.0)\t0.5\nGain on arbitration award\t0\t(632)\t0\t(6.5)\t6.5\nOther income net\t(191)\t(227)\t(2.1)\t(2.3)\t0.2\nTotal costs and expenses\t9587\t11534\t105.9%\t118.4%\t(12.5)\n", "q10k_tbl_57": "\tThree Months Ended\t\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tChange\nLoss before income taxes\t(306)\t(1999)\t1693\nNon-GAAP income before income taxes\t212\t492\t(280)\nNet loss\t(246)\t(2115)\t1869\nAdjusted EBIT\t283\t529\t(246)\n", "q10k_tbl_58": "\tSix Months Ended\t\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tChange\nLoss before income taxes\t(531)\t(1793)\t1262\nNon-GAAP income before income taxes\t319\t1083\t(764)\nNet loss\t(445)\t(1947)\t1502\nAdjusted EBIT\t473\t1181\t(708)\n", "q10k_tbl_59": "\tThree Months Ended September 30 2020\t\t\t\t\n(in millions except per-share amounts)\tAs Reported\tRestructuring Costs\tTransaction Separation and Integration-Related Costs\tAmortization of Acquired Intangible Assets\tTax Adjustment\t\t\t\tNon-GAAP Results\t\t\nCosts of services (excludes depreciation and amortization and restructuring costs)\t3563\t0\t0\t0\t0\t\t\t\t3563\t\t\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t539\t0\t(108)\t0\t0\t\t\t\t431\t\t\n(Loss) income before income taxes\t(306)\t265\t101\t152\t0\t\t\t\t212\t\t\nIncome tax (benefit) expense\t(60)\t52\t26\t35\t(2)\t\t\t\t51\t\t\nNet (loss) income\t(246)\t213\t75\t117\t2\t\t\t\t161\t\t\nLess: net loss attributable to non-controlling interest net of tax\t(2)\t0\t0\t0\t0\t\t\t\t(2)\t\t\nNet (loss) income attributable to DXC common stockholders\t(244)\t213\t75\t117\t2\t\t\t\t163\t\t\nEffective Tax Rate\t19.6%\t\t\t\t\t\t\t\t24.1%\t\t\nBasic EPS\t(0.96)\t0.84\t0.30\t0.46\t0.01\t\t\t\t0.64\t\t\nDiluted EPS\t(0.96)\t0.83\t0.29\t0.46\t0.01\t\t\t\t0.64\t\t\nWeighted average common shares outstanding for:\t\t\t\t\t\t\t\t\t\t\t\nBasic EPS\t254.13\t254.13\t254.13\t254.13\t254.13\t\t\t\t254.13\t\t\nDiluted EPS\t254.13\t255.18\t255.18\t255.18\t255.18\t\t\t\t255.18\t\t\n", "q10k_tbl_60": "\tSix Months Ended September 30 2020\t\t\t\t\t\t\n(in millions except per-share amounts)\tAs Reported\tRestructuring Costs\tTransaction Separation and Integration-Related Costs\tAmortization of Acquired Intangible Assets\tPension and OPEB Actuarial and Settlement Losses\tTax Adjustment\tNon-GAAP Results\nCosts of services (excludes depreciation and amortization and restructuring costs)\t7192\t0\t0\t0\t0\t0\t7192\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t1078\t0\t(218)\t0\t0\t0\t860\n(Loss) income before income taxes\t(531)\t337\t211\t300\t2\t0\t319\nIncome tax (benefit) expense\t(86)\t64\t54\t69\t0\t(2)\t99\nNet (loss) income\t(445)\t273\t157\t231\t2\t2\t220\nLess: net income attributable to non-controlling interest net of tax\t4\t0\t0\t0\t0\t0\t4\nNet (loss) income attributable to DXC common stockholders\t(449)\t273\t157\t231\t2\t2\t216\nEffective Tax Rate\t16.2%\t\t\t\t\t\t31.0%\nBasic EPS\t(1.77)\t1.08\t0.62\t0.91\t0.01\t0.01\t0.85\nDiluted EPS\t(1.77)\t1.07\t0.62\t0.91\t0.01\t0.01\t0.85\nWeighted average common shares outstanding for:\t\t\t\t\t\t\t\nBasic EPS\t253.88\t253.88\t253.88\t253.88\t253.88\t253.88\t253.88\nDiluted EPS\t253.88\t254.76\t254.76\t254.76\t254.76\t254.76\t254.76\n", "q10k_tbl_61": "\tThree Months Ended September 30 2019\t\t\t\t\t\t\t\n(in millions except per-share amounts)\tAs Reported\tRestructuring Costs\tTransaction Separation and Integration-Related Costs\tAmortization of Acquired Intangible Assets\tGoodwill Impairment Losses\tGain on Arbitration Award\tTax Adjustment\tNon-GAAP Results\nCosts of services (excludes depreciation and amortization and restructuring costs)\t3679\t0\t0\t0\t0\t0\t0\t3679\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t489\t0\t(53)\t0\t0\t0\t0\t436\n(Loss) income before income taxes\t(1999)\t32\t53\t151\t2887\t(632)\t0\t492\nIncome tax expense (benefit)\t116\t4\t5\t34\t0\t0\t(29)\t130\nNet (loss) income\t(2115)\t28\t48\t117\t2887\t(632)\t29\t362\nLess: net income attributable to non-controlling interest net of tax\t4\t0\t0\t0\t0\t0\t0\t4\nNet (loss) income attributable to DXC common stockholders\t(2119)\t28\t48\t117\t2887\t(632)\t29\t358\nEffective Tax Rate\t(5.8)%\t\t\t\t\t\t\t26.4%\nBasic EPS\t(8.19)\t0.11\t0.19\t0.45\t11.16\t(2.44)\t0.11\t1.38\nDiluted EPS\t(8.19)\t0.11\t0.18\t0.45\t11.10\t(2.43)\t0.11\t1.38\nWeighted average common shares outstanding for:\t\t\t\t\t\t\t\t\nBasic EPS\t258.71\t258.71\t258.71\t258.71\t258.71\t258.71\t258.71\t258.71\nDiluted EPS\t258.71\t260.03\t260.03\t260.03\t260.03\t260.03\t260.03\t260.03\n", "q10k_tbl_62": "\tSix Months Ended September 30 2019\t\t\t\t\t\t\t\n(in millions except per-share amounts)\tAs Reported\tRestructuring Costs\tTransaction Separation and Integration-Related Costs\tAmortization of Acquired Intangible Assets\tGoodwill Impairment Losses\tGain on Arbitration Award\tTax Adjustment\tNon-GAAP Results\nCosts of services (excludes depreciation and amortization and restructuring costs)\t7301\t0\t0\t0\t0\t0\t0\t7301\nSelling general and administrative (excludes depreciation and amortization and restructuring costs)\t996\t0\t(158)\t0\t0\t0\t0\t838\n(Loss) income before income taxes\t(1793)\t174\t158\t289\t2887\t(632)\t0\t1083\nIncome tax expense (benefit)\t154\t32\t27\t65\t0\t0\t(29)\t249\nNet (loss) income\t(1947)\t142\t131\t224\t2887\t(632)\t29\t834\nLess: net income attributable to non-controlling interest net of tax\t9\t0\t0\t0\t0\t0\t0\t9\nNet (loss) income attributable to DXC common stockholders\t(1956)\t142\t131\t224\t2887\t(632)\t29\t825\nEffective Tax Rate\t(8.6)%\t\t\t\t\t\t\t23.0%\nBasic EPS\t(7.44)\t0.54\t0.50\t0.85\t10.98\t(2.40)\t0.11\t3.14\nDiluted EPS\t(7.44)\t0.54\t0.50\t0.85\t10.91\t(2.39)\t0.11\t3.12\nWeighted average common shares outstanding for:\t\t\t\t\t\t\t\t\nBasic EPS\t262.83\t262.83\t262.83\t262.83\t262.83\t262.83\t262.83\t262.83\nDiluted EPS\t262.83\t264.61\t264.61\t264.61\t264.61\t264.61\t264.61\t264.61\n", "q10k_tbl_63": "\tThree Months Ended\t\tSix Months Ended\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tSeptember 30 2020\tSeptember 30 2019\nNet loss\t(246)\t(2115)\t(445)\t(1947)\nIncome tax (benefit) expense\t(60)\t116\t(86)\t154\nInterest income\t(25)\t(67)\t(48)\t(97)\nInterest expense\t96\t104\t202\t195\nEBIT\t(235)\t(1962)\t(377)\t(1695)\nRestructuring costs\t265\t32\t337\t174\nTransaction separation and integration-related costs\t101\t53\t211\t158\nAmortization of acquired intangible assets\t152\t151\t300\t289\nPension and OPEB actuarial and settlement losses\t0\t0\t2\t0\nGoodwill impairment losses\t0\t2887\t0\t2887\nGain on arbitration award\t0\t(632)\t0\t(632)\nAdjusted EBIT\t283\t529\t473\t1181\n", "q10k_tbl_64": "\tSix Months Ended\t\t\n(in millions)\tSeptember 30 2020\tSeptember 30 2019\tChange\nNet cash provided by operating activities\t591\t1585\t(994)\nNet cash used in investing activities\t(234)\t(2047)\t1813\nNet cash (used in) provided by financing activities\t(963)\t480\t(1443)\nEffect of exchange rate changes on cash and cash equivalents\t9\t(37)\t46\nCash classified within current assets held for sale\t(3)\t0\t(3)\nNet decrease in cash and cash equivalents\t(600)\t(19)\t(581)\nCash and cash equivalents at beginning-of-year\t3679\t2899\t\nCash and cash equivalents at the end-of-period\t3079\t2880\t\n", "q10k_tbl_65": "\tAs of\t\n(in millions)\tSeptember 30 2020\tMarch 31 2020\nShort-term debt and current maturities of long-term debt\t1622\t1276\nLong-term debt net of current maturities\t8046\t8672\nTotal debt\t9668\t9948\n", "q10k_tbl_66": "\tAs of\t\n(in millions)\tSeptember 30 2020\tMarch 31 2020\nTotal debt\t9668\t9948\nCash and cash equivalents\t3079\t3679\nNet debt(1)\t6589\t6269\nTotal debt\t9668\t9948\nEquity\t4751\t5129\nTotal capitalization\t14419\t15077\nDebt-to-total capitalization\t67.1%\t66.0%\nNet debt-to-total capitalization(1)\t45.7%\t41.6%\n", "q10k_tbl_67": "Exhibit Number\tDescription of Exhibit\n10.1\tTenth Amendment to the Receivables Purchase Agreement dated as of August 10 2020 among DXC Receivables LLC (f/k/a CSC Receivables LLC) as Seller DXC Technology Company as Servicer PNC Bank National Association as Administrative Agent and the persons from time to time party thereto as Purchasers and Group Agents (filed herewith)\n10.2\tSixth Amendment to the Purchase and Sale Agreement dated as of August 10 2020 among DXC Technology Company as Servicer PDA Software Services LLC as exiting Originator DXC Receivables LLC (f/k/a CSC Receivables LLC) as Buyer and the various parties listed as remaining Originators (filed herewith)\n10.3*\tSeparation Agreement for Paul N. Saleh\n31.1**\tSection 302 Certification of the Chief Executive Officer\n31.2**\tSection 302 Certification of the Chief Financial Officer\n32.1***\tSection 906 Certification of Chief Executive Officer\n32.2***\tSection 906 Certification of Chief Financial Officer\n101.INS\tInteractive Data Files\n101.SCH\tXBRL Taxonomy Extension Schema\n101.CAL\tXBRL Taxonomy Extension Calculation\n101.LAB\tXBRL Taxonomy Extension Labels\n101.PRE\tXBRL Taxonomy Extension Presentation\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\n"}{"bs": "q10k_tbl_5", "is": "q10k_tbl_3", "cf": "q10k_tbl_6"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____________ to ____________
Commission File No.: 001-38033
DXC TECHNOLOGY COMPANY
(Exact name of registrant as specified in its charter)
Nevada
61-1800317
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
1775 Tysons Boulevard
Tysons
,
Virginia
22102
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (703) 245-9675
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value per share
DXC
New York Stock Exchange
2.750% Senior Notes Due 2025
DXC 25
New York Stock Exchange
1.750% Senior Notes Due 2026
DXC 26
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d)
of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.xYeso No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). xYeso No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
x
Accelerated Filer
o
Non-accelerated Filer
o
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
☐ Yes x No
254,412,158 shares of common stock, par value $0.01 per share, were outstanding on October 30, 2020.
DXC TECHNOLOGY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Three Months Ended
Six Months Ended
(in millions, except per-share amounts)
September 30, 2020
September 30, 2019
September 30, 2020
September 30, 2019
Revenues
$
4,554
$
4,851
$
9,056
$
9,741
Costs of services (excludes depreciation and amortization and restructuring costs)
3,563
3,679
7,192
7,301
Selling, general, and administrative (excludes depreciation and amortization and restructuring costs)
539
489
1,078
996
Depreciation and amortization
525
467
1,017
937
Goodwill impairment losses
—
2,887
—
2,887
Restructuring costs
265
32
337
174
Interest expense
96
104
202
195
Interest income
(25)
(67)
(48)
(97)
Gain on arbitration award
—
(632)
—
(632)
Other income, net
(103)
(109)
(191)
(227)
Total costs and expenses
4,860
6,850
9,587
11,534
Loss before income taxes
(306)
(1,999)
(531)
(1,793)
Income tax (benefit) expense
(60)
116
(86)
154
Net loss
(246)
(2,115)
(445)
(1,947)
Less: net (loss) income attributable to non-controlling interest, net of tax
(2)
4
4
9
Net loss attributable to DXC common stockholders
$
(244)
$
(2,119)
$
(449)
$
(1,956)
Loss per common share:
Basic
$
(0.96)
$
(8.19)
$
(1.77)
$
(7.44)
Diluted
$
(0.96)
$
(8.19)
$
(1.77)
$
(7.44)
The accompanying notes are an integral part of these condensed consolidated financial statements.
2
DXC TECHNOLOGY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited)
Three Months Ended
Six Months Ended
(in millions)
September 30, 2020
September 30, 2019
September 30, 2020
September 30, 2019
Net loss
$
(246)
$
(2,115)
$
(445)
$
(1,947)
Other comprehensive loss, net of taxes:
Foreign currency translation adjustments, net of tax (1)
33
(71)
30
(206)
Cash flow hedges adjustments, net of tax (2)
7
(2)
18
2
Available-for-sale securities, net of tax (3)
1
1
5
2
Pension and other post-retirement benefit plans, net of tax:
Amortization of prior service cost, net of tax (4)
(1)
(3)
(10)
(4)
Pension and other post-retirement benefit plans, net of tax
(1)
(3)
(10)
(4)
Other comprehensive income (loss), net of taxes
40
(75)
43
(206)
Comprehensive loss
(206)
(2,190)
(402)
(2,153)
Less: comprehensive income (loss) attributable to non-controlling interest
1
6
6
(13)
Comprehensive loss attributable to DXC common stockholders
$
(207)
$
(2,196)
$
(408)
$
(2,140)
(1) Tax (benefit) expense related to foreign currency translation adjustments was $(15) and $(22) for the three and six months ended September 30, 2020, respectively, and $25 and $13 for the three and six months ended September 30, 2019, respectively.
(2)Tax expense related to cash flow hedge adjustments was $3 and $6 for the three and six months ended September 30, 2020, respectively. There was no tax expense related to cash flow hedge adjustments during the three and six months ended September 30, 2019.
(3)There was no tax expense related to available-for-sale securities during the three and six months ended September 30, 2020. Tax expense related to available-for-sale securities was $0 and $1 for the three and six months ended September 30, 2019, respectively.
(4)Tax benefit related to amortization of prior service costs was $1 and $2 for the three and six months ended September 30, 2020, respectively, and $1 and $1 for the three and six months ended September 30, 2019, respectively.
The accompanying notes are an integral part of these condensed consolidated financial statements.
3
DXC TECHNOLOGY COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
As of
(in millions, except per-share and share amounts)
September 30, 2020
March 31, 2020
ASSETS
Current assets:
Cash and cash equivalents
$
3,079
$
3,679
Receivables and contract assets, net of allowance of $162 and $74
4,194
4,392
Prepaid expenses
604
646
Other current assets
335
270
Assets held for sale
125
—
Total current assets
8,337
8,987
Intangible assets, net of accumulated amortization of $4,364 and $4,347
4,146
5,731
Operating right-of-use assets, net
1,555
1,428
Goodwill
725
2,017
Deferred income taxes, net
292
265
Property and equipment, net of accumulated depreciation of $4,198 and $3,818
3,417
3,547
Other assets
4,360
4,031
Assets held for sale - non-current
2,838
—
Total Assets
$
25,670
$
26,006
LIABILITIES and EQUITY
Current liabilities:
Short-term debt and current maturities of long-term debt
$
1,622
$
1,276
Accounts payable
1,345
1,598
Accrued payroll and related costs
756
630
Current operating lease liabilities
461
482
Accrued expenses and other current liabilities
3,203
2,801
Deferred revenue and advance contract payments
974
1,021
Income taxes payable
111
87
Liabilities related to assets held for sale
184
—
Total current liabilities
8,656
7,895
Long-term debt, net of current maturities
8,046
8,672
Non-current deferred revenue
697
735
Non-current operating lease liabilities
1,192
1,063
Non-current income tax liabilities and deferred tax liabilities
917
1,157
Other long-term liabilities
1,325
1,355
Liabilities related to assets held for sale - non-current
86
—
Total Liabilities
20,919
20,877
Commitments and contingencies
DXC stockholders’ equity:
Preferred stock, par value $.01 per share, 1,000,000 shares authorized, none issued as of September 30, 2020 and March 31, 2020
—
—
Common stock, par value $.01 per share, 750,000,000 shares authorized, 256,521,547 issued as of September 30, 2020 and 255,674,040 issued as of March 31, 2020
3
3
Additional paid-in capital
10,746
10,714
Accumulated deficit
(5,631)
(5,177)
Accumulated other comprehensive loss
(562)
(603)
Treasury stock, at cost, 2,327,868 and 2,148,708 shares as of September 30, 2020 and March 31, 2020
(155)
(152)
Total DXC stockholders’ equity
4,401
4,785
Non-controlling interest in subsidiaries
350
344
Total Equity
4,751
5,129
Total Liabilities and Equity
$
25,670
$
26,006
The accompanying notes are an integral part of these condensed consolidated financial statements.
4
DXC TECHNOLOGY COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
Six Months Ended
(in millions)
September 30, 2020
September 30, 2019
Cash flows from operating activities:
Net loss
$
(445)
$
(1,947)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
1,025
946
Goodwill impairment losses
—
2,887
Operating right-of-use expense
307
340
Pension & other post-employment benefits, actuarial & settlement losses
2
—
Share-based compensation
36
48
Loss (gain) on dispositions
14
(4)
Provision for losses on accounts receivable
45
—
Unrealized foreign currency exchange gain
(43)
(50)
Impairment losses and contract write-offs
42
11
Other non-cash charges, net
(5)
(9)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Decrease in assets
57
167
Decrease in operating lease liability
(307)
(340)
Decrease in other liabilities
(137)
(464)
Net cash provided by operating activities
591
1,585
Cash flows from investing activities:
Purchases of property and equipment
(156)
(192)
Payments for transition and transformation contract costs
(136)
(158)
Software purchased and developed
(102)
(126)
Payments for acquisitions, net of cash acquired
(10)
(1,921)
Cash collections related to deferred purchase price receivable
159
371
Proceeds from sale of assets
8
40
Short-term investing
—
(75)
Other investing activities, net
3
14
Net cash used in investing activities
(234)
(2,047)
Cash flows from financing activities:
Borrowings of commercial paper
830
2,879
Repayments of commercial paper
(508)
(2,866)
Borrowings under lines of credit
2,500
—
Repayment of borrowings under lines of credit
(2,750)
—
Borrowings on long-term debt, net of discount
993
2,198
Principal payments on long-term debt
(1,476)
(519)
Payments on finance leases and borrowings for asset financing
(487)
(421)
Proceeds from stock options and other common stock transactions
—
10
Taxes paid related to net share settlements of share-based compensation awards
(3)
(12)
Repurchase of common stock and advance payment for accelerated share repurchase
—
(650)
Dividend payments
(53)
(107)
Other financing activities, net
(9)
(32)
Net cash (used in) provided by financing activities
(963)
480
Effect of exchange rate changes on cash and cash equivalents
9
(37)
Net decrease in cash and cash equivalents including cash classified within current assets held for sale
(597)
(19)
Less: cash classified within current assets held for sale
(3)
—
Net decrease in cash and cash equivalents
(600)
(19)
Cash and cash equivalents at beginning of year
3,679
2,899
Cash and cash equivalents at end of period
$
3,079
$
2,880
The accompanying notes are an integral part of these condensed consolidated financial statements.
5
DXC TECHNOLOGY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited)
Three Months Ended September 30, 2020
(in millions, except shares in thousands)
Common Stock
Additional
Paid-in Capital
Accumulated Deficit
Accumulated
Other
Comprehensive Loss
Treasury Stock (1)
Total
DXC Equity
Non-
Controlling Interest
Total Equity
Shares
Amount
Balance at June 30, 2020
256,383
$
3
$
10,729
$
(5,386)
$
(599)
$
(154)
$
4,593
$
349
$
4,942
Net loss
(244)
(244)
(2)
(246)
Other comprehensive income
37
37
3
40
Share-based compensation expense
17
17
17
Acquisition of treasury stock
(1)
(1)
(1)
Stock option exercises and other common stock transactions
139
—
—
Non-controlling interest distributions and other
(1)
(1)
(1)
Balance at September 30, 2020
256,522
$
3
$
10,746
$
(5,631)
$
(562)
$
(155)
$
4,401
$
350
$
4,751
Three Months Ended September 30, 2019
(in millions, except shares in thousands)
Common Stock
Additional
Paid-in Capital
Retained Earnings
Accumulated
Other
Comprehensive
Loss
Treasury Stock
Total
DXC Equity
Non-
Controlling Interest
Total Equity
Shares
Amount
Balance at June 30, 2019
263,709
$
3
$
10,916
$
494
$
(351)
$
(149)
$
10,913
$
304
$
11,217
Net loss
(2,119)
(2,119)
4
(2,115)
Other comprehensive loss
(77)
(77)
2
(75)
Share-based compensation expense
31
31
31
Acquisition of treasury stock
(1)
(1)
(1)
Share repurchase program
(6,220)
(161)
11
(150)
(150)
Stock option exercises and other common stock transactions
137
7
7
7
Dividends declared ($0.21 per share)
(54)
(54)
(54)
Non-controlling interest distributions and other
—
10
10
Balance at September 30, 2019
257,626
$
3
$
10,793
$
(1,668)
$
(428)
$
(150)
$
8,550
$
320
$
8,870
The accompanying notes are an integral part of these condensed consolidated financial statements.
6
DXC TECHNOLOGY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited)
Six Months Ended September 30, 2020
(in millions, except shares in thousands)
Common Stock
Additional
Paid-in Capital
Accumulated Deficit
Accumulated
Other
Comprehensive Loss
Treasury Stock (1)
Total
DXC Equity
Non-
Controlling Interest
Total Equity
Shares
Amount
Balance at March 31, 2020
255,674
$
3
$
10,714
$
(5,177)
$
(603)
$
(152)
$
4,785
$
344
$
5,129
Cumulative effect of adopting ASU 2016-13
(4)
(4)
(4)
Net loss
(449)
(449)
4
(445)
Other comprehensive income
41
41
2
43
Share-based compensation expense
32
32
32
Acquisition of treasury stock
(3)
(3)
(3)
Stock option exercises and other common stock transactions