Company: CNDT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001677703-25-000076
Chunk: 37

Company: CONDUENT Inc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 assets is managed at the total company level.•Commercial: The Commercial segment provides business process services that span its clients' businesses end-to-end from the front-office to the back-office for a variety of commercial industries. These solutions are both cross-industry and industry-specific in nature. Across the Commercial segment, the Company operates on its clients’ behalf to deliver mission-critical solutions and services to reduce costs, improve efficiencies and enhance performance for the Company's clients and deliver better experiences for their consumers and employees.•Government: The Government segment provides government-centric business process services and solutions to U.S. federal, state, local and foreign governments for public assistance, healthcare programs and administration, transaction processing, payment services and case management. In this segment, the Company helps governments respond to changing rules for eligibility and keep pace with increasing citizen expectations, modernize legacy technology systems, combat benefits fraud and shift in response to an evolving regulatory environment.•Transportation: The Transportation segment provides government agencies and transportation authorities around the world with systems, support and revenue-generating solutions serving toll and fare collections as well as mobility and digital payments that help streamline operations and increase revenue to government transportation agencies. With an expanded focus on sustainability and enhancing the quality of life for citizens and communities around the world, the Company's solutions help reduce congestion and greenhouse emissions, while creating seamless travel experiences for consumers throughout transportation ecosystems.Selected financial information for the Company's segments is as follows:Three Months Ended March 31,(in millions)CommercialGovernmentTransportationTotal(1)2025Segment revenue$402 $216 $133 $751 ExpensesWages and benefits$265 $99 $61 $425 Services and supplies58 61 53 172 Rent lease and maintenance expense39 17 11 67 Other operating expense— 1 2 3 Depreciation and amortization expense24 10 8 42 Segment expenses$386 $188 $135 $709 Segment profit (loss)$16 $28 $(2)$42 2024Segment revenue$419 $258 $144 $821 ExpensesWages and benefits$280 $108 $71 $459 Services and supplies59 76 62 197 Rent lease and maintenance expense34 17 10 61 Other operating expense1 2 1 4 Depreciation and amortization expense26 13 6 45 Segment expenses$400 $216 $150 $