Company: CNDT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001677703-25-000076
Chunk: 44

Company: CONDUENT Inc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 Translation AdjustmentsGains (Losses) on Cash Flow HedgesDefined Benefit Pension ItemsTotalBalance at December 31, 2024$(478)$1 $5 $(472)Other comprehensive income (loss)9 2 — 11 Balance at March 31, 2025$(469)$3 $5 $(461)(in millions)Currency Translation AdjustmentsGains (Losses) on Cash Flow HedgesDefined Benefit Pension ItemsTotalBalance at December 31, 2023$(441)$2 $4 $(435)Other comprehensive income (loss)(11)— — (11)Balance at March 31, 2024$(452)$2 $4 $(446)__________(1)All amounts are net of tax. Tax effects were immaterial.

Note 12 – Contingencies and Litigation

As more fully discussed below, the Company is involved in a variety of claims, lawsuits, investigations and proceedings concerning a variety of matters, including: governmental entity contracting, servicing and procurement law; intellectual property law; employment law; commercial and contracts law; the Employee Retirement Income Security Act ("ERISA"); and other laws and regulations. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company assesses its potential liability by analyzing its litigation and regulatory matters using available information. The Company develops its view on estimated losses in consultation with outside counsel handling its defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in the Company's determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts in excess of any accrual for such matter or matters, this could have a material adverse effect on the Company's results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs. The Company believes it has recorded adequate provisions for any such matters as of March 31, 2025. Litigation is inherently unpredictable, and it is not possible to predict the ultimate outcome of these matters.

CNDT Q1 2025 Form 10-Q17

Additionally, guarantees, indemnifications and claims arise during the ordinary course of business from relationships with suppliers, customers and non-consolidated affiliates when the Company