Company: CNDT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001677703-25-000152
Chunk: 103

Company: CONDUENT Inc
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 previously recorded estimates as payments are made, or actions are completed.Costs associated with restructuring, including employee severance and lease termination costs, are generally recognized when it has been determined that a liability has been incurred, which is generally upon communication to the affected employees or exit from the leased facility. In those geographies where the Company has either a formal severance plan or a history of consistently providing severance benefits representing a substantive plan, it recognizes employee severance costs when they are both probable and reasonably estimable. Asset impairment costs related to the reduction of the Company's real estate footprint include impairment of operating lease ROU assets and associated leasehold improvements.A summary of the Company's restructuring program activity during the nine months ended September 30, 2025 and 2024 is as follows:(in millions)Severance and Related CostsTermination and Other Restructuring-related Costs(2)Asset ImpairmentsTotalAccrued Balance at December 31, 2024$13 $2 $— $15 Provision14 7 3 24 Changes in estimates— — — — Total Net Current Period Charges(1)14 7 3 24 Charges against reserve and currency(19)(9)(3)(31)Accrued Balance at September 30, 2025$8 $— $— $8 (in millions)Severance and Related CostsTermination and Other Restructuring-related Costs(2)Asset ImpairmentsTotalAccrued Balance at December 31, 2023$9 $1 $— $10 Provision9 10 2 21 Changes in estimates— — — — Total Net Current Period Charges(1)9 10 2 21 Charges against reserve and currency(15)(11)(2)(28)Accrued Balance at September 30, 2024$3 $— $— $3 __________(1)Represents amounts recognized within the Condensed Consolidated Statements of Income (Loss) for the years shown.(2)During the nine months ended September 30, 2024, the Company incurred $1 million of costs for bringing certain technology functions in-house. There were no such costs incurred in the nine months ended September 30, 2025. These costs are included in the above table in Termination and other costs.No restructuring and related costs are allocated to the segments.