Company: CNDT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001677703-25-000126
Chunk: 48

Company: CONDUENT Inc
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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. At June 30, 2025, approximately 78% of these contracts mature within three months, 8% in three to six months, 10% in six to twelve months and 4% in greater than twelve months. Most of these foreign currency derivative contracts are designated as cash flow hedges and did not have a material impact on the Company's condensed consolidated balance sheet, income statement or cash flows for the periods presented.Refer to Note 9 – Fair Value of Financial Assets and Liabilities for additional information regarding the fair value of the Company's foreign exchange forward contracts.

Note 9 – Fair Value of Financial Assets and Liabilities

Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP established a hierarchy framework to classify the fair value based on the observability of significant inputs to the measurement. The levels of the fair value hierarchy are as follows:Level 1: Fair value is determined using an unadjusted quoted price in an active market for identical assets or liabilities. Level 2: Fair value is estimated using inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly.Level 3: Fair value is estimated using unobservable inputs that are significant to the fair value of the assets or liabilities. 

CNDT Q2 2025 Form 10-Q16

Summary of Financial Assets and Liabilities Accounted for at Fair Value on a Recurring BasisThe following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases was Level 2. (in millions)June 30, 2025December 31, 2024Assets:Foreign exchange contracts - forward$3 $— Total Assets$3 $— Liabilities:Foreign exchange contracts - forward$— $(2)Total Liabilities$— $(2)Summary of Other Financial Assets and LiabilitiesThe estimated fair values of other financial assets and liabilities were as follows: June 30, 2025December 31, 2024(in millions)CarryingAmountFairValueCarryingAmountFairValueLiabilities:Long-term debt$628 $604 $615 $588 The fair value amounts for Cash and cash equivalents, Restricted cash, Accounts receivable, net and Short-term debt approximate carrying amounts due to the short-term maturities of these instruments. The fair value of