Xerox 2011 Annual Report Download - page 109

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107Xerox 2011 Annual Report
First Quarter Second Quarter Third Quarter Fourth Quarter Full Year
2011
Revenues $ 5,465 $ 5,614 $ 5,583 $ 5,964 $ 22,626
Costs and Expenses 5,115 5,213 5,216 5,517 21,061
Income before Income Taxes and Equity Income 350 401 367 447 1,565
Income tax expenses 95 108 81 102 386
Equity in net income of unconsolidated affiliates 34 34 43 38 149
Net Income 289 327 329 383 1,328
Less: Net income – noncontrolling interests 8 8 9 8 33
Net Income Attributable to Xerox $ 281 $ 319 $ 320 $ 375 $ 1,295
Basic Earnings per Share(1) $ 0.20 $ 0.22 $ 0.23 $ 0.27 $ 0.92
Diluted Earnings per Share(1) 0.19 0.22 0.22 0.26 0.90
2010
Revenues $ 4,721 $ 5,508 $ 5,428 $ 5,976 $ 21,633
Costs and Expenses 4,731 5,188 5,100 5,799 20,818
(Loss) Income before Income Taxes and Equity Income (10) 320 328 177 815
Income tax expenses 22 112 98 24 256
Equity in net (loss) income of unconsolidated affiliates (2) 28 26 26 78
Net (Loss) Income (34) 236 256 179 637
Less: Net income – noncontrolling interests 8 9 6 8 31
Net (Loss) Income Attributable to Xerox $ (42) $ 227 $ 250 $ 171 $ 606
Basic (Loss) Earnings per Share(1) $ (0.04) $ 0.16 $ 0.18 $ 0.12 $ 0.44
Diluted (Loss) Earnings per Share(1) (0.04) 0.16 0.17 0.12 0.43
(1) The sum of quarterly earnings per share may differ from the full-year amounts due to rounding, or in the case of diluted earnings per share, because securities that are anti-dilutive in
certain quarters may not be anti-dilutive on a full-year basis.
Quarterly Results of Operations (Unaudited)
(in millions, except per-share data)