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Refer to our discussion of Pension Plan Assumptions in the "Application of Critical Accounting Policies" section of
the MD&A as well as Note 16 - Employee Benefit Plans in the Consolidated Financial Statements for additional
information.
Recent Accounting Pronouncements
Refer to Note 1 - Basis of Presentation and Summary of Significant Accounting Policies in the Consolidated Financial
Statements for a description of recent accounting pronouncements including the respective dates of adoption and the
effects on results of operations and financial conditions.
Operations Review of Segment Revenue and Profit
Our reportable segments are consistent with how we manage the business and view the markets we serve. Our
reportable segments are Services, Document Technology and Other. Revenues by segment for the three years
ended December 31, 2015 were as follows:
(in millions)
Equipment
Sales
Revenue
Annuity
Revenue
Total
Revenue
% of Total
Revenue
Segment
Profit (Loss)
Segment
Margin
2015
Services $ 493 $ 9,644 $10,137 56% $ 446 4.4 %
Document Technology 2,179 5,186 7,365 41% 879 11.9 %
Other 109 434 543 3% (267) (49.2)%
Total $2,781 $15,264 $18,045 100%$ 1,058 5.9 %
Adjusted:(1)
Services $ 493 $ 9,760 $10,253 56% $ 835 8.1 %
Total $ 2,781 $15,380 $18,161 $1,447 8.0 %
2014
Services $ 499 $ 10,085 $10,584 54% $956 9.0 %
Document Technology 2,482 5,876 8,358 43% 1,149 13.7 %
Other 123 475 598 3% (272) (45.5)%
Total $3,104 $16,436 $19,540 100%$ 1,833 9.4 %
2013
Services $ 503 $ 9,976 $10,479 52% $ 1,055 10.1 %
Document Technology 2,727 6,181 8,908 45% 964 10.8 %
Other 128 491 619 3% (217) (35.1)%
Total $3,358 $16,648 $20,006 100%$ 1,802 9.0 %
_______________
(1) Refer to the Services Segment reconciliations table in the "Non-GAAP Financial Measures" section.
Xerox 2015 Annual Report 44