Company: CNDT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001677703-25-000126
Chunk: 68

Company: CONDUENT Inc
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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5$63 March 31, 2025116 December 31, 202492 September 30, 202446 June 30, 2024(47)

CNDT Q2 2025 Form 10-Q31

Capital Resources and Liquidity

As of June 30, 2025 and December 31, 2024, total cash and cash equivalents were $275 million and $366 million, respectively. We also have a $550 million revolving line of credit for our various cash needs, of which $10 million was used for letters of credit. The net amount available to be drawn upon under our revolving line of credit as of June 30, 2025, was $540 million. 

As of June 30, 2025, our total principal debt outstanding was $661 million, of which $28 million was due within one year. Refer to Note 7 – Debt in the Condensed Consolidated Financial Statements for additional debt information.

To provide financial flexibility and finance certain investments and projects, we may continue to utilize external financing arrangements. However, we believe that our cash on hand, projected cash flow from operations, sound balance sheet and our revolving line of credit will continue to provide sufficient financial resources to meet our expected business obligations for at least the next twelve months.

Cash Flow Analysis

The following table summarizes our cash flows, as reported in our Condensed Consolidated Statement of Cash Flows in the accompanying Condensed Consolidated Financial Statements:

 Six Months Ended June 30,(in millions)20252024Better (Worse)Net cash provided by (used in) operating activities$(73)$(78)$5 Net cash provided by (used in) investing activities$15 $553 (538)Net cash provided by (used in) financing activities$(30)$(681)651 

Operating activities

The net decrease in cash used in operating activities of $5 million, compared to the prior year period, was primarily due to lower cash interest expense, improved accounts receivable Days Sales Outstanding and improved accounts payable Days Payable Outstanding. These were partially offset by lower Adjusted EBITDA due to the divestitures and the absence of a $22 million United States federal tax refund related to the 2018 tax year received in the first quarter of 2024.

Investing activities

Investing cash flow decreased by $538 million mainly due to the proceeds received from the BenefitWallet Portfolio transfer and the Curbside Management and Public Safety Solutions