Company: CNDT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001677703-25-000029
Chunk: 61

Company: CONDUENT Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 61
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1 billion TCV deal in our Transportation segment, with the State of Victoria, Australia. This is our largest TCV deal in the history of Conduent and continues to grow our international presence.

•Share Repurchases – The Board of Directors authorized a share repurchase program, granting approval for us to repurchase up to $75 million of our common stock over the next three years. In 2023, 9 million shares were repurchased under this program. This program was completed in September 2024.

Macroeconomic and Geopolitical Uncertainty

Given the nature of our business and our global operations, the effects of global macroeconomic and geopolitical uncertainty could have a materially adverse effect on our business, results of operations and financial condition. 

Financial Information

The section below provides a comparative discussion of our consolidated results of operations for the year ended December 31, 2024 and 2023. See Item 7. MD&A – Financial Information in our Annual Report on Form 10-K for the year ended December 31, 2023, for a comparative discussion of our consolidated results of operations between 2023 and 2022.

 Year Ended December 31,2024 vs. 2023(in millions)20242023$ Change% ChangeRevenue$3,356 $3,722 $(366)(10)%Operating Costs and ExpensesCost of services (excluding depreciation and amortization)2,730 2,888 $(158)(5)%Selling, general and administrative (excluding depreciation and amortization)455 458 $(3)(1)%Research and development (excluding depreciation and amortization)6 7 (1)(14)%Depreciation and amortization204 264 (60)(23)%Restructuring and related costs46 62 (16)(26)%Interest expense75 111 (36)(32)%Loss on extinguishment of debt8 — 8 n/mGoodwill impairment28 287 (259)(90)%(Gain) loss on divestitures and transaction costs, net(696)10 (706)n/mLitigation settlements (recoveries), net9 (30)39 (130)%Other (income) expenses, net(13)(3)(10)333 %Total Operating Costs and Expenses2,852 4,054 (1,202)Income (Loss) Before Income Taxes504 (332)836 Income tax expense (benefit)78 (36)114