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XEROX HOLDINGS CORP : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)

10/27/2020 | 05:51am EST
Item 2.02. Results of Operations and Financial Condition.
On October 27, 2020, Registrant released its third quarter 2020 earnings and is
furnishing to the Securities and Exchange Commission ("SEC") a copy of the
earnings press release as Exhibit 99.1 to this Report under Item 2.02 of Form
Exhibit 99.1 to this Report contains certain financial measures that are
considered "non-GAAP financial measures" as defined in the SEC rules. Exhibit
99.1 to this Report also contains the reconciliation of these non-GAAP financial
measures to their most directly comparable financial measures calculated and
presented in accordance with generally accepted accounting principles, as well
as the reasons why Registrant's management believes that presentation of the
non-GAAP financial measures provides useful information to investors regarding
Registrant's results of operations and, to the extent material, a statement
disclosing any other additional purposes for which Registrant's management uses
the non-GAAP financial measures.
The information contained in Item 2.02 of this Report and in Exhibit 99.1 to
this Report shall not be deemed "filed" with the Commission for purposes of
Section 18 of the Exchange Act of 1934, as amended, or otherwise subject to the
liability of that section.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.
Exhibit No.              Description
  99.1                   Registrant's third quarter 2020 earnings press release dated October 27,


Forward-Looking Statements This filing, and other written or oral statements made from time to time by management contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate", "believe", "estimate", "expect", "intend", "will", "should", "targeting", "projecting", "driving" and similar expressions, as they relate to us, our performance and/or our technology, are intended to identify forward-looking statements. These statements reflect management's current beliefs, assumptions and expectations and are subject to a number of factors that may cause actual results to differ materially. Such factors include but are not limited to: the effects of the COVID-19 pandemic on our and our customers' businesses and the duration and extent to which this will impact our future results of operations and overall financial performance; our ability to address our business challenges in order to reverse revenue declines, reduce costs and increase productivity so that we can invest in and grow our business; our ability to attract and retain key personnel; changes in economic and political conditions, trade protection measures, licensing requirements and tax laws in the United States and in the foreign countries in which we do business; the imposition of new or incremental trade protection measures such as tariffs and import or export restrictions; changes in foreign currency exchange rates; our ability to successfully develop new products, technologies and service offerings and to protect our intellectual property rights; the risk that multi-year contracts with governmental entities could be terminated prior to the end of the contract term and that civil or criminal penalties and administrative sanctions could be imposed on us if we fail to comply with the terms of such contracts and applicable law; the risk that partners, subcontractors and software vendors will not perform in a timely, quality manner; actions of competitors and our ability to promptly and effectively react to changing technologies and customer expectations; our ability to obtain adequate pricing for our products and services and to maintain and improve cost efficiency of operations, including savings from restructuring actions; the risk that confidential and/or individually identifiable information of ours, our customers, clients and employees could be inadvertently disclosed or disclosed as a result of a breach of our security systems due to cyber attacks or other intentional acts; reliance on third parties, including subcontractors, for manufacturing of products and provision of services; the exit of the United Kingdom from the European Union; our ability to manage changes in the printing environment and expand equipment placements; interest rates, cost of borrowing and access to credit markets; funding requirements associated with our employee pension and retiree health benefit plans; the risk that our operations and products may not comply with applicable worldwide regulatory requirements, particularly environmental regulations and directives and anti-corruption laws; the outcome of litigation and regulatory proceedings to which we may be a party; any impacts resulting from the restructuring of our relationship with Fujifilm Holdings Corporation; and the shared services arrangements entered into by us as part of Project Own It. Additional risks that may affect Xerox's operations and other factors that are set forth in the "Risk Factors" section, the "Legal Proceedings" section, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section and other sections of Xerox Holdings Corporation's and Xerox Corporation's 2019 Annual Report on Form 10-K, as well as in Xerox Holdings Corporation's and Xerox Corporation's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.

These forward-looking statements speak only as of the date of this filing or as of the date to which they refer, and Xerox assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.


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