Company: CNDT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001677703-25-000126
Chunk: 106

Company: CONDUENT Inc
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 11,916 17,615 11,277 Convertible preferred stock5,393 — 5,393 — Total Anti-Dilutive and Contingently Issuable Securities25,242 11,916 23,008 11,277 

CNDT Q2 2025 Form 10-Q20

Note 15 – Supplementary Financial Information

The components of Other assets and Other liabilities were as follows:(in millions)June 30, 2025December 31, 2024Other Current AssetsPrepaid expenses$108 $77 Income taxes receivable20 11 Value-added tax receivable8 7 Restricted cash19 11 Net receivables from buyers of divested businesses2 52 Other119 103 Total Other Current Assets$276 $261 Other Current LiabilitiesAccrued liabilities to vendors$145 $156 Litigation related accruals5 8 Current operating lease liabilities51 52 Restructuring liabilities10 15 Income tax payable— 3 Other taxes payable13 16 Accrued interest5 5 Direct response costs - cyber event liabilities22 — Other44 35 Total Other Current Liabilities$295 $290 Other Long-term AssetsInternal use software, net$98 $107 Deferred contract costs, net129 126 Product software, net62 72 Deferred tax assets24 23 Other57 60 Total Other Long-term Assets$370 $388 Other Long-term LiabilitiesIncome tax liabilities18 18 Unearned income60 52 Other23 23 Total Other Long-term Liabilities$101 $93 

Note 16 – Subsequent Events

Tax Reform

On July 4, 2025, the President of the United States signed into law the One Big Beautiful Bill Act, which contains certain provisions enacting tax reform. The Company is evaluating the full effects of the legislation on its estimated annual effective tax rate and cash tax position. 

CNDT Q2 2025 Form 10-Q21

TEM 2 — MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following Management’s Discussion and Analysis ("MD&A") is intended to provide a reader of our financial statements with a narrative from the perspective of management on our financial condition, results of operations, liquidity, and certain other factors that may affect our future results. Unless