Company: CNDT
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001677703-25-000152
Chunk: 108

Company: CONDUENT Inc
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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AmountFairValueLiabilities:Long-term debt$697 $676 $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 Long-term debt was estimated using quoted market prices for identical or similar instruments (Level 2 inputs).

Note 10 – Employee Benefit Plans

The Company has post-retirement pension, savings and investment plans in several countries, including the U.S., India and the Philippines. In many instances, employees participating in defined benefit pension plans that have been amended to freeze future service accruals were transitioned to an enhanced defined contribution plan. In these plans, employees are permitted to contribute a portion of their salaries and bonuses to the plans. The Company, at its discretion, matches a portion of employee contributions.The Company recognized an expense related to its defined contribution plans of $0 million and $2 million for the three months ended September 30, 2025 and 2024, respectively, and $4 million and $8 million for the nine months ended September 30, 2025 and 2024, respectively. The balance sheet and income statement impacts of any remaining defined benefit plans are immaterial for all periods presented in these Condensed Consolidated Financial Statements.

CNDT Q3 2025 Form 10-Q18

Note 11 – Accumulated Other Comprehensive Loss ("AOCL")

Below are the balances and changes in AOCL(1): (in millions)Currency Translation AdjustmentsGains (Losses) on Cash Flow HedgesDefined Benefit Pension ItemsTotalBalance at December 31, 2024$(478)$1 $5 $(472)Other comprehensive income (loss)32 (1)— 31 Balance at September 30, 2025$(446)$— $5 $(441)(in millions)Currency Translation AdjustmentsGains (Losses) on Cash Flow HedgesDefined Benefit Pension ItemsTotalBalance at December 31, 2023$(441)$2 $4 $(435)Other comprehensive income (loss)(14)— — (14)Balance at September 30, 2024$(455)$2 $4 $(449)__________(1)All amounts are net of tax. Tax effects were immaterial.

Note 12 – Contingencies and Litigation

As more fully discussed below, the Company is involved in a variety of claims