Xerox 2014 Annual Report Download - page 126
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Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A
one-percentage-point change in assumed health care cost trend rates would have the following effects:
1% increase 1% decrease
Effect on total service and interest cost components $ 1$(1)
Effect on post-retirement benefit obligation 46 (39)
Defined Contribution Plans
We have savings and investment plans in several countries, including the U.S., U.K. and Canada. In many instances,
employees from those defined benefit pension plans that have been amended to freeze future service accruals (see
"Plan Amendments" for additional information) were transitioned to an enhanced defined contribution plan. In these
plans employees are allowed to contribute a portion of their salaries and bonuses to the plans, and we match a portion
of the employee contributions. We recorded charges related to our defined contribution plans of $102 in 2014, $89 in
2013 and $61 in 2012. These charges exclude $8, $7 and $2 for the three years ended December 31, 2014, respectively,
related to our ITO business, which is held for sale and reported as a discontinued operation at December 31, 2014.
Refer to Note 4 - Divestitures for additional information regarding this pending sale.
Note 17 - Income and Other Taxes
Income before income taxes (pre-tax income) was as follows:
Year Ended December 31,
2014 2013 2012
Domestic income $ 675 $905 $850
Foreign income 531 338 434
Income Before Income Taxes $1,206 $1,243 $1,284
Provisions (benefits) for income taxes were as follows:
Year Ended December 31,
2014 2013 2012
Federal Income Taxes
Current $(3)$17$ 5
Deferred 79 66 93
Foreign Income Taxes
Current 115 82 114
Deferred 28 36 (1)
State Income Taxes
Current 34 37 32
Deferred 61513
Total Provision $259 $253 $256
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