Xerox 2015 Annual Report Download - page 103
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The following is a summary of the major categories of assets and liabilities of the ITO business held for sale at
December 31, 2014:
December 31, 2014
Accounts receivable, net $213
Other current assets 146
Land, buildings and equipment, net 220
Intangible assets, net 197
Goodwill 337
Other long-term assets 147
Total Assets of Discontinued Operations $1,260
Current portion of long-term debt $31
Accounts payable 32
Accrued pension and benefit costs 9
Unearned income 64
Other current liabilities 112
Long-term debt 44
Pension and other benefit liabilities 25
Other long-term liabilities 54
Total Liabilities of Discontinued Operations $371
The following is a summary of selected financial information of the ITO business for the three years ended
December 31, 2015:
Year Ended December 31,
2015 2014 2013
Expenses:
Depreciation of buildings and equipment(1) $—$98$99
Amortization of internal use software(1) —910
Amortization of acquired intangible assets(1) —2727
Amortization of customer contract costs(1) —2622
Operating lease rent expense 130 258 241
Defined contribution plans 487
Interest expense (2) 243
Expenditures:
Cost of additions to land, buildings and equipment $ 41 $ 105 $99
Cost of additions to internal use software 124
Customer-related deferred set-up/transition and inducement costs 10 26 35
(1) ITO income from operations for the year ended December 31, 2015, excludes approximately $80 of depreciation and amortization expense
(including $14 for intangible amortization) since the business was held for sale.
(2) Interest expense is related to capital lease obligations, which were assumed by the purchaser of the ITO business.
Note 5 – Accounts Receivable, Net
Accounts receivable, net were as follows:
December 31,
2015 2014
Amounts billed or billable $2,110 $2,421
Unbilled amounts 289 318
Allowance for doubtful accounts (80)(87)
Accounts Receivable, Net $2,319 $2,652
Xerox 2015 Annual Report 86