Company: CNDT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001677703-25-000029
Chunk: 116

Company: CONDUENT Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 116
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 Income (Loss) for the years shown.(2)During the year ended December 31, 2024, the Company incurred $4 million of costs for bringing certain technology functions in-house. The Company also incurred costs related to professional support services associated with the implementation of certain cost reduction and 

CNDT 2024 Annual Report75

strategic transformation programs of $4 million during the year ended December 31, 2024. These costs are included in the above table in Termination and other costs.No restructuring and related costs are allocated to the segments.

Note 9 – Supplementary Financial Information

The components of Other assets and Other liabilities were as follows:December 31,(in millions)20242023Other Current AssetsPrepaid expenses$77 $70 Income taxes receivable11 38 Value-added tax receivable7 8 Restricted cash11 21 Net receivables from buyers of divested businesses52 — Other103 103 Total Other Current Assets$261 $240 Other Current LiabilitiesAccrued liabilities to vendors$156 $188 Litigation related accruals8 6 Current operating lease liabilities52 54 Restructuring liabilities15 10 Income tax payable3 1 Other taxes payable16 19 Accrued interest5 6 Other35 44 Total Other Current Liabilities$290 $328 Other Long-term AssetsInternal use software, net$107 $143 Deferred contract costs, net(1)126 91 Product software, net72 92 Deferred tax assets23 21 Other60 89 Total Other Long-term Assets$388 $436 Other Long-term LiabilitiesIncome tax liabilities$18 $6 Unearned income52 55 Other23 23 Total Other Long-term Liabilities$93 $84 __________(1)Represents capitalized costs associated with obtaining or fulfilling a contract with a customer. The balances at December 31, 2024 and 2023 are expected to be amortized over a weighted average remaining life of approximately 3 and 4 years, respectively. See Note 2 – Revenue for more information.

Note 10 – Debt

The Company classifies its debt based on the contractual maturity dates of the underlying debt instruments. The Company defers costs associated with debt issuance over the applicable term. These costs are amortized as interest expense in the Consolidated Statements of Income (Loss). 

CNDT