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Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2012 shares
Entity Registrant Name	Xerox Corporation
Entity Central Index Key	0000108772
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,347,747,980
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Revenues
Sales	$ 1,588	$ 1,671
Service, outsourcing and rentals	3,767	3,632
Finance income	148	162
Total Revenues	5,503	5,465
Costs and Expenses
Cost of sales	1,052	1,090
Cost of service, outsourcing and rentals	2,690	2,514
Equipment financing interest	53	60
Research, development and engineering expenses	173	184
Selling, administrative and general expenses	1,068	1,119
Restructuring and asset impairment charges	17	(15)
Amortization of intangible assets	82	85
Other expenses, net	55	78
Total Costs and Expenses	5,190	5,115
Income before Income Taxes and Equity Income	313	350
Income tax expense	77	95
Equity in net income of unconsolidated affiliates	40	34
Net Income	276	289
Less: Net income attributable to noncontrolling interests	7	8
Net Income Attributable to Xerox	$ 269	$ 281
Basic Earnings per Share (in dollars per share)	$ 0.20	$ 0.20
Diluted Earnings per Share (in dollars per share)	$ 0.19	$ 0.19

Condensed Consolidatd Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Net income	$ 276	$ 289
Less: Net income attributable to noncontrolling interests	7	8
Net Income Attributable to Xerox	269	281
Translation adjustments, net	160	297
Unrealized gains (losses), net	(43)	(21)
Changes in defined benefit plans, net	(54)	(36)
Other Comprehensive (Loss) Income, net	63	240
Less: Other comprehensive income attributable to noncontrolling interests	1	0
Other Comprehensive (Loss) Income Attributable to Xerox	62	240
Comprehensive Income, net	339	529
Less: Comprehensive income attributable to noncontrolling interests	8	8
Comprehensive Income Attributable to Xerox	$ 331	$ 521

Condensed Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions	Mar. 31, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 1,514	$ 902
Accounts receivable, net	2,909	2,600
Billed portion of finance receivables, net	155	166
Finance receivables, net	2,139	2,165
Inventories	1,065	1,021
Other current assets	1,100	1,058
Total current assets	8,882	7,912
Finance receivables due after one year, net	3,976	4,031
Equipment on operating leases, net	536	533
Land, buildings and equipment, net	1,603	1,612
Investments in affiliates, at equity	1,338	1,395
Intangible assets, net	2,989	3,042
Goodwill	8,918	8,803
Deferred tax assets, long-term	638	672
Other long-term assets	2,271	2,116
Total Assets	31,151	30,116
Liabilities and Equity
Short-term debt and current portion of long-term debt	1,145	1,545
Accounts payable	1,758	2,016
Accrued compensation and benefits costs	794	757
Unearned income	407	432
Other current liabilities	1,691	1,631
Total current liabilities	5,795	6,381
Long-term debt	8,483	7,088
Pension and other benefit liabilities	2,369	2,487
Post-retirement medical benefits	930	925
Other long-term liabilities	834	861
Total Liabilities	18,411	17,742
Series A Convertible Preferred Stock	349	349
Common stock	1,348	1,353
Additional paid-in capital	6,318	6,317
Treasury stock	(3)	(124)
Retained earnings	7,250	7,046
Accumulated other comprehensive loss	(2,654)	(2,716)
Xerox shareholders' equity	12,259	11,876
Noncontrolling interests	132	149
Total Equity	12,391	12,025
Total Liabilities and Equity	$ 31,151	$ 30,116
Shares of common stock issued (in shares)	1,348,159	1,352,849
Treasury stock (in shares)	(411)	(15,508)
Shares of common stock outstanding (in shares)	1,347,748	1,337,341

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash Flows from Operating Activities:
Net income	$ 276	$ 289
Adjustments required to reconcile net income to cash flows from operating activities:
Depreciation and amortization	313	291
Provision for receivables	27	25
Provision for inventory	10	13
Undistributed equity in net income of unconsolidated affiliates	(31)	(33)
Stock-based compensation	31	32
Restructuring and asset impairment charges	17	(15)
Payments for restructurings	(39)	(57)
Contributions to defined benefit pension plans	(79)	(44)
Increase in accounts receivable and billed portion of finance receivables	(452)	(271)
Collections of deferred proceeds from sales of receivables	96	87
Increase in inventories	(34)	(100)
Increase in equipment on operating leases	(67)	(61)
Decrease in finance receivables	164	95
Increase in other current and long-term assets	(101)	(79)
Increase (decrease) in accounts payable and accrued compensation	(144)	(233)
Increase (decrease) in other current and long-term liabilities	(35)	(86)
Net change in income tax assets and liabilities	43	121
Net change in derivative assets and liabilities	21	23
Other operating, net	(31)	(27)
Net cash provided by (used in) operating activities	(15)	(30)
Cash Flows from Investing Activities:
Cost of additions to land, buildings and equipment	(91)	(71)
Proceeds from sales of land, buildings and equipment	4	2
Cost of additions to internal use software	(37)	(40)
Acquisitions, net of cash acquired	(87)	(43)
Net change in escrow and other restricted investments	(3)	(1)
Net cash used in investing activities	(214)	(153)
Cash Flows from Financing Activities:
Net payments on other debt	998	13
Common stock dividends	(57)	(60)
Preferred stock dividends	(6)	(6)
Proceeds from issuances of common stock	7	19
Excess tax benefits from stock-based compensation	0	2
Payments to acquire treasury stock, including fees	(50)	0
Repurchases related to stock-based compensation	0	(3)
Distributions to noncontrolling Interest	(57)	(7)
Net cash provided by (used in) financing activities	835	(42)
Effect of exchange rate changes on cash and cash equivalents	6	14
Increase (Decrease) in cash and cash equivalents	612	(211)
Cash and cash equivalents at beginning of period	902	1,211
Cash and Cash Equivalents at End of Period	$ 1,514	$ 1,000

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation References herein to “we,” “us,” “our,” the “Company” and “Xerox” refer to Xerox Corporation and its consolidated subsidiaries unless the context specifically requires otherwise. We have prepared the accompanying unaudited Condensed Consolidated Financial Statements in accordance with the accounting policies described in our 2011 Annual Report to Shareholders, which is incorporated by reference in our 2011 Annual Report on Form 10-K (“2011 Annual Report”), and the interim reporting requirements of Form 10-Q. Accordingly, certain information and note disclosures normally included in our annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. You should read these Condensed Consolidated Financial Statements in conjunction with the Consolidated Financial Statements included in our 2011 Annual Report. In our opinion, all adjustments which are necessary for a fair statement of financial position, operating results and cash flows for the interim periods presented have been made. These adjustments consist of normal recurring items. Interim results of operations are not necessarily indicative of the results of the full year. For convenience and ease of reference, we refer to the financial statement caption “Income before Income Taxes and Equity Income” as “pre-tax income.”

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
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-Name Statement of Position (SOP)
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-Number 94-6
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+ Details

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2012
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Accounting Changes and Error Corrections [Text Block]	Recent Accounting Pronouncements Fair Value Accounting: In May 2011, the FASB issued ASU 2011-04, which amended Fair Value Measurements and Disclosures - Overall (ASC Topic 820-10) to provide a consistent definition of fair value and ensure that the fair value measurement and disclosure requirements are consistent between U.S. GAAP and International Financial Reporting Standards. This update changed certain fair value measurement principles and enhanced the disclosure requirements, particularly for level 3 fair value measurements. We adopted this update prospectively effective for our fiscal year beginning January 1, 2012. This update did not have a material effect on our financial condition, results of operations or disclosures. Balance Sheet Offsetting: In December 2011, the FASB issued ASU 2011-11, Balance Sheet (Topic 210), Disclosures about Offsetting Assets and Liabilities. ASU 2011-11 requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the Balance Sheet and instruments and transactions subject to an agreement similar to a master netting arrangement to enable users of their financial statements to understand the effects of offsetting and related arrangements on their financial position. This update is effective for our fiscal year beginning January 1, 2013 and must be applied retrospectively. The principal impact from this update will be to expand disclosures regarding our financial instruments. We currently report our derivative assets and liabilities on a gross basis in the Balance Sheet even in those instances where offsetting may be allowed under a master netting agreement.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References + Details

Segment Reporting

3 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Segment Reporting

Our reportable segments are aligned with how we manage the business and view the markets we serve. We report our financial performance based on the following two primary reportable segments – Services and Technology. Our Services segment operations involve delivery of a broad range of services including business process, document and IT outsourcing. Our Technology segment includes the sale and support of a broad range of document systems from entry level to high-end.

The Services segment is comprised of three outsourcing service offerings:


•	Business Process Outsourcing ("BPO")


•	Document Outsourcing (which includes Managed Print Services) ("DO")


•	Information Technology Outsourcing ("ITO")

Business process outsourcing services include service arrangements where we manage a customer’s business activity or process. Document outsourcing services include service arrangements that allow customers to streamline, simplify and digitize document-intensive business processes through automation and deployment of software applications and tools and the management of their printing needs. Document outsourcing services also include revenues from our partner print services offerings. Information technology outsourcing services include service arrangements where we manage a customer’s IT-related activities, such as application management and application development, data center operations or testing and quality assurance.

Our Technology segment is centered on strategic product groups, which share common technology, manufacturing and product platforms. This segment includes the sale of document systems and supplies, technical services and product financing. Our products range from:


•	“Entry,” which includes A4 devices and desktop printers; to


•	“Mid-range,” which includes A3 devices that generally serve workgroup environments in midsize to large enterprises and includes products that fall into the following market categories: Color 41+ ppm priced at less than $100K and Light Production 91+ ppm priced at less than $100K; to


•	“High-end,” which includes production printing and publishing systems that generally serve the graphic communications marketplace and large enterprises.

The segment classified as Other includes several units, none of which meet the thresholds for separate segment reporting. This group primarily includes Xerox Supplies Business Group (predominantly paper sales), licensing revenues, GIS network integration solutions and electronic presentation systems and non-allocated Corporate items including non-financing interest, as well as other items included in Other expenses, net.

Operating segment revenues and profitability were as follows:



	Three Months Ended March 31,
	Segment Revenue		Segment Profit (Loss)
2012
Services	$	2,821	$	263
Technology	2,338		245
Other	344		(52		)
Total	$	5,503	$	456
2011
Services	$	2,584	$	266
Technology	2,495		266
Other	386		(66		)
Total	$	5,465	$	466



	Three Months Ended March 31,
Reconciliation to Pre-tax Income	2012			2011
Segment Profit	$	456		$	466
Reconciling items:
Restructuring and asset impairment charges	(17		)	15
Restructuring charges of Fuji Xerox	(4		)	(11		)
Amortization of intangible assets	(82		)	(85		)
Equity in net income of unconsolidated affiliates	(40		)	(34		)
Other	—			(1		)
Pre-tax Income	$	313		$	350

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2012
Business Combinations [Abstract]
Acquisitions	Acquisitions In February 2012, we acquired RK Dixon, a leading provider of IT services, copiers, printers and managed print services for approximately $58. The acquisition furthers our coverage of central Illinois and eastern Iowa, building on our strategy to create a nationwide network of locally-based companies focused on customers' needs to improve business performance through efficiencies. RK Dixon is included within our Technology segment. Additionally, our Services segment acquired two businesses during the three months ended March 31, 2012 for a total of $29 in cash. The operating results of these acquisitions are not material to our financial statements and are included within our results from the respective acquisition dates. The purchase prices were primarily allocated to intangible assets and goodwill based on third-party valuations and management’s estimates.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Emerging Issues Task Force (EITF)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 3
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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+ Details

Receivables, Net

3 Months Ended

Mar. 31, 2012

Receivables [Abstract]

Receivables, Net

Accounts Receivable Sales Arrangements

We have facilities in the U.S., Canada and several countries in Europe that enable us to sell to third-parties, on an on-going basis, certain accounts receivable without recourse. The accounts receivables sold are generally short-term trade receivables with payment due dates of less than 60 days. One of the facilities in the U.S. enables us to sell receivables on a revolving basis to a wholly-owned consolidated bankruptcy-remote special purpose subsidiary, which in turn sells such receivables to a third-party commercial paper conduit. Receivables of $92 were sold under this revolving facility program in the three months ended March 31, 2012.

The agreements involve the sale of entire groups of accounts receivable for cash. In certain instances a portion of the sales proceeds are held back by the purchaser and payment is deferred until collection of the related receivables sold. Such holdbacks are not considered legal securities nor are they certificated. We report collections on such receivables as operating cash flows in the Condensed Consolidated Statements of Cash Flows because such receivables are the result of an operating activity and the associated interest rate risk is de minimis due to its short-term nature. These receivables are included in the caption “Other current assets” in the accompanying Condensed Consolidated Balance Sheets and were $148 and $97 at March 31, 2012 and December 31, 2011, respectively. The balance at March 31, 2012 includes receivables of $41 held by the bankruptcy-remote subsidiary, noted in the revolving arrangement above, which are not available to satisfy any of our creditor obligations.

Under most of the agreements, we continue to service the sold accounts receivable. When applicable, a servicing liability is recorded for the estimated fair value of the servicing. The amounts associated with the servicing liability were not material. Of the accounts receivable sold and derecognized from our Balance Sheet, $809 and $815 remained uncollected as of March 31, 2012 and December 31, 2011, respectively. Accounts receivables sales were as follows:



	Three Months Ended March 31,
	2012			2011
Accounts receivable sales	$	875		$	730
Deferred proceeds	147			94
Fees associated with sales	6			4
Estimated decrease to operating cash flows⁽¹⁾	(68		)	(24		)

____________________________


(1)	Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and (iii) currency.

Finance Receivables – Allowance for Credit Losses and Credit Quality

Finance receivables include sales-type leases, direct financing leases and installment loans. Our finance receivable portfolios are primarily in the U.S., Canada and Europe. We generally establish customer credit limits and estimate the allowance for credit losses on a country or geographic basis. Our policy and methodology used to establish our allowance for doubtful accounts has been consistently applied over all periods presented.

The following table is a rollforward of the allowance for doubtful finance receivables as well as the related investment in finance receivables:



	United States			Canada			Europe			Other⁽³⁾		Total
Allowance for Credit Losses:
Balance at December 31, 2011	$	75		$	33		$	91		$	2	$	201
Provision	2			1			12			—		15
Charge-offs	(4		)	(3		)	(12		)	—		(19		)
Recoveries and other⁽¹⁾	1			2			2			1		6
Balance at March 31, 2012	74			33			93			3		203
Finance receivables as of March 31, 2012 collectively evaluated for impairment⁽²⁾	$	2,889		$	829		$	2,614		$	136	$	6,468

Allowance for Credit Losses:
Balance at December 31, 2010	$	91		$	37		$	81		$	3	$	212
Provision	7			4			11			—		22
Charge-offs	(10		)	(5		)	(8		)	—		(23		)
Recoveries and other⁽¹⁾	(1		)	2			3			—		4
Balance at March 31, 2011	87			38			87			3		215
Finance receivables as of March 31, 2011 collectively evaluated for impairment⁽²⁾	$	3,074		$	874		$	2,865		$	76	$	6,889

_____________________________


(1)	Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.


(2)	Total Finance receivables exclude residual values of $5 and $11, and the allowance for credit losses of $203 and $215 at March 31, 2012 and 2011, respectively.


(3)	Includes developing market countries and smaller units.

We evaluate our customers based on the following credit quality indicators:

•

Investment grade: This rating includes accounts with excellent to good business credit, asset quality and the capacity to meet financial obligations. These customers are less susceptible to adverse effects due to shifts in economic conditions or changes in circumstance. The rating generally equates to a Standard & Poors (S&P) rating of BBB- or better. Loss rates in this category are normally minimal at less than 1%.

•

Non-investment grade: This rating includes accounts with average credit risk that are more susceptible to loss in the event of adverse business or economic conditions. This rating generally equates to a BB S&P rating. Although we experience higher loss rates associated with this customer class, we believe the risk is somewhat mitigated by the fact that our leases are fairly well dispersed across a large and diverse customer base. In addition, the higher loss rates are largely offset by the higher rates of return we obtain on such leases. Loss rates in this category are generally in the range of 2% to 4%.

•

Substandard: This rating includes accounts that have marginal credit risk such that the customer’s ability to make repayment is impaired or may likely become impaired. We use numerous strategies to mitigate risk including higher rates of interest, prepayments, personal guarantees and etc. Accounts in this category include customers who were downgraded during the term of the lease from investment and non-investment grade status when the lease was originated. Accordingly, there is a distinct possibility for a loss of principal and interest or customer default. The loss rates in this category are around 10%.

Credit quality indicators are updated at least annually and the credit quality of any given customer can change during the life of the portfolio. Details about our finance receivables portfolio based on industry and credit quality indicators are as follows:



	March 31, 2012
	Investment Grade		Non-investment Grade		Substandard		Total Finance Receivables
Finance and Other Services	$	346	$	364	$	144	$	854
Government and Education	784		22		4		810
Graphic Arts	123		192		171		486
Industrial	171		84		31		286
Healthcare	120		49		26		195
Other	89		106		63		258
Total United States	1,633		817		439		2,889
Finance and Other Services	153		113		51		317
Government and Education	121		10		4		135
Graphic Arts	39		39		35		113
Industrial	59		42		33		134
Other	75		44		11		130
Total Canada	447		248		134		829
France	242		360		89		691
U.K./Ireland	208		163		58		429
Central⁽¹⁾	332		480		59		871
Southern⁽²⁾	214		246		61		521
Nordics⁽³⁾	65		34		3		102
Total Europe	1,061		1,283		270		2,614
Other	97		32		7		136
Total	$	3,238	$	2,380	$	850	$	6,468

	December 31, 2011
	Investment Grade		Non-investment Grade		Substandard		Total Finance Receivables
Finance and Other Services	$	349	$	380	$	160	$	889
Government and Education	821		20		4		845
Graphic Arts	126		200		172		498
Industrial	180		83		32		295
Healthcare	130		42		28		200
Other	97		93		76		266
Total United States	1,703		818		472		2,993
Finance and Other Services	153		118		51		322
Government and Education	121		9		4		134
Graphic Arts	36		39		35		110
Industrial	56		41		34		131
Other	74		42		12		128
Total Canada	440		249		136		825
France	246		354		92		692
U.K./Ireland	201		162		54		417
Central⁽¹⁾	330		494		57		881



Southern⁽²⁾	219		256		63		538
Nordics⁽³⁾	60		39		3		102
Total Europe	1,056		1,305		269		2,630
Other	75		26		7		108
Total	$	3,274	$	2,398	$	884	$	6,556

_____________________________


(1)	Switzerland, Germany, Austria, Belgium and Holland.


(2)	Italy, Greece, Spain and Portugal.


(3)	Sweden, Norway, Denmark and Finland.

The aging of our billed finance receivables is based upon the number of days an invoice is past due and is as follows:



	March 31, 2012
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed Finance Receivables		Unbilled Finance Receivables		Total Finance Receivables		Finance Receivables >90 Days and Accruing
Finance and Other Services	$	14	$	4	$	2	$	20	$	834	$	854	$	22
Government and Education	18		6		4		28		782		810		52
Graphic Arts	13		2		1		16		470		486		13
Industrial	7		2		1		10		276		286		10
Healthcare	4		2		1		7		188		195		9
Other	6		1		—		7		251		258		6
Total United States	62		17		9		88		2,801		2,889		112
Canada	3		3		1		7		822		829		26
France	1		1		1		3		688		691		13
U.K./Ireland	5		1		3		9		420		429		4
Central⁽¹⁾	4		3		4		11		860		871		53
Southern⁽²⁾	21		10		12		43		478		521		83
Nordics⁽³⁾	1		—		—		1		101		102		—
Total Europe	32		15		20		67		2,547		2,614		153
Other	3		—		—		3		133		136		1
Total	$	100	$	35	$	30	$	165	$	6,303	$	6,468	$	292

	December 31, 2011
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed Finance Receivables		Unbilled Finance Receivables		Total Finance Receivables		Finance Receivables >90 Days and Accruing
Finance and Other Services	$	18	$	4	$	1	$	23	$	866	$	889	$	15
Government and Education	21		5		2		28		817		845		29
Graphic Arts	16		2		1		19		479		498		7
Industrial	7		2		1		10		285		295		6
Healthcare	5		2		—		7		193		200		5
Other	8		1		—		9		257		266		4
Total United States	75		16		5		96		2,897		2,993		66
Canada	3		2		1		6		819		825		27
France	1		1		1		3		689		692		16
U.K./Ireland	3		2		3		8		409		417		4
Central⁽¹⁾	7		2		3		12		869		881		46
Southern⁽²⁾	31		4		13		48		490		538		82
Nordics⁽³⁾	1		—		—		1		101		102		—
Total Europe	43		9		20		72		2,558		2,630		148
Other	2		1		—		3		105		108		—
Total	$	123	$	28	$	26	$	177	$	6,379	$	6,556	$	241

_____________________________


(1)	Switzerland, Germany, Austria, Belgium and Holland.


(2)	Italy, Greece, Spain and Portugal.


(3)	Sweden, Norway, Denmark and Finland.

- Definition

The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5066-111524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5162-111524

+ Details

Inventories

3 Months Ended

Mar. 31, 2012

Inventory Disclosure [Abstract]

Inventories

The following is a summary of Inventories by major category:



	March 31, 2012		December 31, 2011
Finished goods	$	897	$	866
Work-in-process	56		58
Raw materials	112		97
Total Inventories	$	1,065	$	1,021

Investment in Affiliates, at Equity

3 Months Ended

Mar. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

Investment in Affiliates, at Equity

Our equity in net income of our unconsolidated affiliates was as follows:



	Three Months Ended March 31,
	2012		2011
Fuji Xerox	$	37	$	31
Other investments	3		3
Total Equity in Net Income of Unconsolidated Affiliates	$	40	$	34

Fuji Xerox

Equity in net income of Fuji Xerox is affected by certain adjustments required to reflect the deferral of profit associated with intercompany sales. These adjustments may result in recorded equity income that is different from that implied by our 25% ownership interest. Equity income for the three months ended March 31, 2012 and 2011 includes after-tax restructuring charges of $4 and $11, respectively, primarily reflecting Fuji Xerox’s continued cost-reduction initiatives.

Condensed financial data of Fuji Xerox was as follows:



	Three Months Ended March 31,
	2012		2011
Summary of Operations:
Revenues	$	3,330	$	3,092
Costs and expenses	3,084		2,897
Income before income taxes	246		195
Income tax expense	97		60
Net Income	149		135
Less: Net income – noncontrolling interests	1		1
Net Income – Fuji Xerox	$	148	$	134
Weighted Average Rate⁽¹⁾	79.72		82.12

_____________________________


(1)	Represents Yen/U.S. Dollar exchange rate used to translate.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Restructuring Programs

3 Months Ended

Mar. 31, 2012

Restructuring and Related Activities [Abstract]

Restructuring Programs

During the first quarter 2012, we recorded net restructuring and asset impairment charges of $17, which included approximately $22 of severance costs related to headcount reductions of approximately 500 employees primarily in North America, and $2 of asset impairment charges. These costs were partially offset by $7 of net reversals for changes in estimated reserves from prior period initiatives.

Information related to restructuring program activity during the three months ended March 31, 2012 is outlined below:



	Severance and Related Costs			Lease Cancellation and Other Costs		Asset Impairments⁽²⁾			Total
Balance December 31, 2011	$	116		$	7	$	—		$	123
Restructuring provision	22			—		2			24
Reversals of prior accruals	(7		)	—		—			(7		)
Net current period charges⁽¹⁾	15			—		2			17
Charges against reserve and currency	(37		)	—		(2		)	(39		)
Balance March 31, 2012	$	94		$	7	$	—		$	101

_____________________________


(1)	Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown.


(2)	Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision.

Reconciliation to the Condensed Consolidated Statements of Cash Flows:



	Three Months Ended March 31,
	2012			2011
Charges against reserve	$	(39	)	$	(53	)
Asset impairment	2			—
Effects of foreign currency and other non-cash items	(2		)	(4		)
Cash Payments for Restructurings	$	(39	)	$	(57	)

The following table summarizes the total amount of costs incurred in connection with these restructuring programs by segment:



	Three Months Ended March 31,
	2012			2011
Services	$	3		$	(1	)
Technology	17			(12		)
Other	(3		)	(2		)
Total Net Restructuring Charges	$	17		$	(15	)

We expect to incur additional restructuring charges of approximately $20 to $40 in the second quarter 2012 for actions and initiatives which have not yet been finalized. The additional restructuring actions are related to continuing cost-reduction activities and productivity improvements.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

Debt	3 Months Ended
Debt	Mar. 31, 2012
Debt Disclosure [Abstract]
Debt	Debt Debt Exchange In February 2012, we completed an exchange of our 5.71% Zero Coupon Notes due 2023 with an accreted book value at the date of the exchange of $303, for $362 of our 4.50% Senior Notes due 2021. Accordingly, this increased the principal amount for our 4.50% Senior Notes due 2021 from $700 to $1,062. The exchange was conducted to retire high-interest, long-dated debt in a favorable interest rate environment. The debt exchange was accounted for as a non-revolving debt modification and, therefore, it did not result in any gain or loss. The difference between the book value of our Zero Coupon Notes and the principal value of the Senior Notes issued in exchange will be accreted over the remaining term of the Senior Notes. Upfront fees paid to third parties in connection with the exchange were not material and were expensed as incurred. Senior Notes In March 2012, we issued $600 of Floating Rate Senior Notes due 2013 (the “2013 Floating Rate Notes”) and $500 of 2.95% Senior Notes due 2017 (the “2017 Senior Notes”). The 2013 Floating Rate Notes were issued at par and the 2017 Senior Notes were issued at 99.875% of par, resulting in aggregate net proceeds for both notes of approximately $1,093. The 2013 Floating Rate Notes accrue interest at a rate per annum, reset quarterly, equal to the three-month LIBOR plus 1.400% and are payable quarterly. The 2017 Senior Notes accrue interest at a rate of 2.95% per annum and are payable semi-annually. As a result of the discount, they have a weighted average effective interest rate of 2.977%. In conjunction with the issuance of these Senior Notes, debt issuance costs of $6 were deferred. This debt issuance partially pre-funds the May 2012 maturity of our $1,100 of 5.59% Senior Notes.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Interest Expense and Income

3 Months Ended

Mar. 31, 2012

Interest Expense And Income Disclosure [Abstract]

Interest Expense and Income

Interest expense and interest income were as follows:



	Three Months Ended March 31,
	2012		2011
Interest expense⁽¹⁾	$	109	$	127
Interest income⁽²⁾	151		169

_____________________________


(1)	Includes Equipment financing interest, as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of Income.


(2)	Includes Finance income, as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of Income.

Financial Instruments

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Interest Rate Risk Management

We use interest rate swap agreements to manage our interest rate exposure and to achieve a desired proportion of variable and fixed rate debt. These derivatives may be designated as fair value hedges or cash flow hedges depending on the nature of the risk being hedged.

Fair Value Hedges

At March 31, 2012 and December 31, 2011, we did not have any interest rate swaps outstanding.

Foreign Exchange Risk Management

We are a global company that is exposed to foreign currency exchange rate fluctuations in the normal course of our business. As a part of our foreign exchange risk management strategy, we use derivative instruments, primarily forward contracts and purchase option contracts, to hedge the following foreign currency exposures, thereby reducing volatility of earnings or protecting fair values of assets and liabilities:


•	Foreign currency-denominated assets and liabilities


•	Forecasted purchases and sales in foreign currency

Summary of Foreign Exchange Hedging Positions

At March 31, 2012, we had outstanding forward exchange and purchased option contracts with gross notional values of $4,041, which is reflective of the amounts that are normally outstanding at any point during the year. Approximately 80% of these contracts mature within three months, 10% in three to six months and 10% in six to twelve months.

The following is a summary of the primary hedging positions and corresponding fair values as of March 31, 2012:



Currency Hedged (Buy/Sell)	Gross Notional Value		Fair Value Asset (Liability)⁽¹⁾
Japanese Yen/U.S. Dollar	$	618	$	(19	)
Euro/U.K. Pound Sterling	616		(11		)
Japanese Yen/Euro	546		(17		)
U.S. Dollar/Euro	525		—
U.K. Pound Sterling/U.S. Dollar	217		—
U.S. Dollar/U.K. Pound Sterling	196		(5		)
Canadian Dollar/Euro	174		(1		)
U.K. Pound Sterling/Euro	171		1
Euro/Swiss Franc	122		—
Swiss Franc/Euro	95		—
Swedish Krona/Euro	89		—
Euro/Swedish Krona	77		(1		)
Mexican Peso/U.S. Dollar	60		(1		)
Euro/Japanese Yen	54		1
Euro/Norwegian Krone	50		—
U.S. Dollar/Japanese Yen	46		—
Indian Rupee/U.S. Dollar	46		(3		)
Euro/Danish Krone	45		—
All Other	294		1
Total Foreign Exchange Hedging	$	4,041	$	(55	)

_____________________________


(1)	Represents the net receivable (payable) amount included in the Condensed Consolidated Balance Sheet at March 31, 2012.

Foreign Currency Cash Flow Hedges

We designate a portion of our foreign currency derivative contracts as cash flow hedges of our foreign currency-denominated inventory purchases, sales and expenses. No amount of ineffectiveness was recorded in the Condensed Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or loss was included in the assessment of hedge effectiveness. The net (liability) asset fair value of these contracts was $(27) and $26 as of March 31, 2012 and December 31, 2011, respectively.

Summary of Derivative Instruments Fair Value

The following table provides a summary of the fair value amounts of our derivative instruments:



Designation of Derivatives	Balance Sheet Location	March 31, 2012			December 31, 2011
Derivatives Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	10		$	37
	Other current liabilities	(37		)	(11		)
	Net Designated (Liability)Asset	$	(27	)	$	26

Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	5		$	21
	Other current liabilities	(33		)	(20		)
	Net Undesignated (Liability) Asset	$	(28	)	$	1

Summary of Derivatives	Total Derivative Assets	$	15		$	58
	Total Derivative Liabilities	(70		)	(31		)
	Net Derivative (Liability) Asset	$	(55	)	$	27

Summary of Derivative Instruments Gains (Losses)

Derivative gains and (losses) affect the income statement based on whether such derivatives are designated as hedges of underlying exposures. The following is a summary of derivative gains and (losses).

Designated Derivative Instruments Gains (Losses)

The following tables provide a summary of gains (losses) on derivative instruments:



Derivatives in Fair Value Relationships	Location of Gain (Loss) Recognized in Income	Derivative Gain (Loss) Recognized in Income Three Months Ended March 31,					Hedged Item Gain (Loss) Recognized in Income Three Months Ended March 31
Derivatives in Fair Value Relationships	Location of Gain (Loss) Recognized in Income	2012		2011			2012		2011
Interest rate contracts	Interest expense	$	—	$	(1	)	$	—	$	1



Derivatives in Cash Flow Hedging Relationships	Derivative Gain (Loss) Recognized in OCI (Effective Portion) Three Months Ended March 31,						Location of Derivative Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Gain (Loss) Reclassified from AOCI to Income (Effective Portion) Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships	2012			2011				2012		2011
Foreign exchange contracts – forwards	$	(44	)	$	(27	)	Cost of sales	$	16	$	3

No amount of ineffectiveness was recorded in the Condensed Consolidated Statements of Income for these designated cash flow hedges and all components of each derivative’s gain or (loss) was included in the assessment of hedge effectiveness. In addition, no amount was recorded for an underlying exposure that did not occur or was not expected to occur.

At March 31, 2012, net losses of $18 were recorded in accumulated other comprehensive loss associated with our cash flow hedging activity. The entire balance is expected to be reclassified into net income within the next 12 months, providing an offsetting economic impact against the underlying anticipated transactions.

Non-Designated Derivative Instruments Gains (Losses)

Non-designated derivative instruments are primarily instruments used to hedge foreign currency-denominated assets and liabilities. They are not designated as hedges since there is a natural offset for the re-measurement of the underlying foreign currency-denominated asset or liability.

The following table provides a summary of gains (losses) on non-designated derivative instruments:



Derivatives NOT Designated as Hedging Instruments		Three Months Ended March 31,
Derivatives NOT Designated as Hedging Instruments	Location of Derivative Gain (Loss)	2012			2011
Foreign exchange contracts – forwards	Other expense – Currency gains (losses), net	$	(18	)	$	(31	)

During the three months ended March 31, 2012 and 2011, we recorded Currency losses, net of $0 and $1, respectively. Currency losses, net includes the mark-to-market adjustments of the derivatives not designated as hedging instruments and the related cost of those derivatives, as well as the re-measurement of foreign currency-denominated assets and liabilities.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB
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-Number 133
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+ Details

Fair Value of Financial Assets and Liabilities

3 Months Ended

Mar. 31, 2012

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

The 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 is Level 2 – Significant Other Observable Inputs.



	March 31, 2012		December 31, 2011
Assets:
Foreign exchange contracts-forwards	$	15	$	58
Deferred compensation investments in cash surrender life insurance	74		69
Deferred compensation investments in mutual funds	23		23
Total	$	112	$	150
Liabilities:
Foreign exchange contracts-forwards	$	70	$	31
Deferred compensation plan liabilities	104		97
Total	$	174	$	128

We utilize the income approach to measure the fair value for our derivative assets and liabilities. The income approach uses pricing models that rely on market observable inputs such as yield curves, currency exchange rates and forward prices, and therefore are classified as Level 2.

Fair value for our deferred compensation plan investments in Company-owned life insurance is reflected at cash surrender value. Fair value for our deferred compensation plan investments in mutual funds is based on quoted market prices for actively traded investments similar to those held by the plan. Fair value for deferred compensation plan liabilities is based on the fair value of investments corresponding to employees’ investment selections, based on quoted prices for similar assets in actively traded markets.

Summary of Other Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

The estimated fair values of our other financial assets and liabilities not measured at fair value on a recurring basis were as follows:



	March 31, 2012				December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	1,514	$	1,514	$	902	$	902
Accounts receivable, net	2,909		2,909		2,600		2,600
Short-term debt	1,145		1,136		1,545		1,622
Long-term debt	8,483		9,022		7,088		7,497

The fair value amounts for Cash and cash equivalents and Accounts receivable, net, approximate carrying amounts due to the short maturities of these instruments. The fair value of Short- and Long-term debt was estimated based on quoted market prices for publicly-traded securities or on the current rates offered to us for debt of similar maturities. The difference between the fair value and the carrying value represents the theoretical net premium or discount we would pay or receive to retire all debt at such date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Employee Benefit Plans

3 Months Ended

Mar. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

The components of Net periodic benefit cost and other changes in plan assets and benefit obligations were as follows:



	Pension Benefits						Retiree Health
	Three Months Ended March 31,						Three Months Ended March 31,
	2012			2011			2012			2011
Components of Net Periodic Benefit Costs:
Service cost	$	51		$	48		$	2		$	2
Interest cost	115			118			11			12
Expected return on plan assets	(129		)	(127		)	—			—
Recognized net actuarial loss	27			17			—			—
Amortization of prior service credit	(6		)	(6		)	(10		)	(10		)
Recognized settlement loss	16			30			—			—
Defined benefit plans	74			80			3			4
Defined contribution plans	16			16			—			—
Net periodic benefit cost	90			96			3			4

Other changes in plan assets and benefit obligations recognized in Other Comprehensive Income:
Net actuarial gain	(1		)	—			—			—
Amortization of net prior service credit	6			6			10			10
Amortization of net actuarial losses	(43		)	(47		)	—			—
Total recognized in Other Comprehensive Income⁽¹⁾	(38		)	(41		)	10			10
Total recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	52		$	55		$	13		$	14

_____________________________


(1)	Amounts represent the pre-tax effect included within Other comprehensive income. Refer to Note 15 - Comprehensive Income for related tax effects and the after-tax amounts.

Contributions: During the three months ended March 31, 2012, we made cash contributions of $79 and $12 to our defined benefit plans and our other post-retirement benefit plans, respectively. In March 2012, we also elected to make a contribution of 15.4 million shares of our common stock, with an aggregate value of approximately $130 to our U.S. defined benefit pension plan for salaried employees in order to meet our planned level of funding. We presently anticipate additional cash contributions of $351 to our defined benefit pension plans and $68 to our other post-retirement benefit plans in 2012 for a total cash contribution of $430 ($560 total cash and stock contribution) and $80, respectively.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
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-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

+ Details

Shareholders Equity

3 Months Ended

Mar. 31, 2012

Shareholders’ Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Shareholders’ Equity



	Common Stock			Additional Paid-in Capital			Treasury Stock			Retained Earnings			AOCL⁽¹⁾			Xerox Shareholders’ Equity			Non- controlling Interests			Total Equity
Balance at December 31, 2011	$	1,353		$	6,317		$	(124	)	$	7,046		$	(2,716	)	$	11,876		$	149		$	12,025
Comprehensive income, net	—			—			—			269			62			331			8			339
Cash dividends declared-common stock⁽²⁾	—			—			—			(59		)	—			(59		)	—			(59		)
Cash dividends declared-preferred stock⁽³⁾	—			—			—			(6		)	—			(6		)	—			(6		)
Contribution of common stock to U.S. pension plan⁽⁴⁾	15			115			—			—			—			130			—			130
Stock option and incentive plans	1			37			—			—			—			38			—			38
Tax loss on stock option and incentive plans, net	—			(1		)	—			—			—			(1		)	—			(1		)
Payments to acquire treasury stock, including fees	—			—			(50		)	—			—			(50		)	—			(50		)
Cancellation of treasury stock	(21		)	(150		)	171			—			—			—			—			—
Distributions to noncontrolling interests	—			—			—			—			—			—			(25		)	(25		)
Balance at March 31, 2012	$	1,348		$	6,318		$	(3	)	$	7,250		$	(2,654	)	$	12,259		$	132		$	12,391



	Common Stock		Additional Paid-in Capital		Retained Earnings			AOCL⁽¹⁾			Xerox Shareholders’ Equity			Non- controlling Interests			Total Equity
Balance at December 31, 2010	$	1,398	$	6,580	$	6,016		$	(1,988	)	$	12,006		$	153		$	12,159
Comprehensive income, net	—		—		281			240			521			8			529
Cash dividends declared-common stock⁽²⁾	—		—		(61		)	—			(61		)	—			(61		)
Cash dividends declared-preferred stock⁽³⁾	—		—		(6		)	—			(6		)	—			(6		)
Stock option and incentive plans	3		45		—			—			48			—			48
Tax benefit on stock option and incentive plans, net	—		1		—			—			1			—			1
Distributions to noncontrolling interests	—		—		—			—			—			(6		)	(6		)
Balance at March 31, 2011	$	1,401	$	6,626	$	6,230		$	(1,748	)	$	12,509		$	155		$	12,664

_____________________________


(1)	Refer to Note 15- Comprehensive Income for components of AOCL.


(2)	Cash dividends declared on common stock of $0.0425 per share in each quarter of 2012 and 2011.


(3)	Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2012 and 2011.


(4)	Refer to Note 13 - Employee Benefit Plans for additional information.

Treasury Stock

The following is a summary of the purchases of common stock made during the three months ended March 31, 2012 under our authorized stock repurchase programs (shares in thousands):



	Shares		Amount
December 31, 2011	15,508		$	124
Purchases⁽¹⁾	6,100		50
Cancellations	(21,197	)	(171		)
March 31, 2012	411		$	3

____________________________


(1)	Includes associated fees.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

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+ Details

Comprehensive Income

3 Months Ended

Mar. 31, 2012

Comprehensive Income [Abstract]

Comprehensive Income (Loss) Note [Text Block]

Comprehensive Income

Other Comprehensive Income is comprised of the following:



	Three Months Ended March 31, 2012						Three Months Ended March 31, 2011
	Pre-tax			Net of Tax			Pre-tax			Net of Tax
Translation Adjustments Gains	$	153		$	160		$	294		$	297
Unrealized Losses:
Changes in fair value of cash flow hedge losses	(44		)	(31		)	(27		)	(19		)
Changes in cash flow hedges reclassed to earnings⁽¹⁾	(16		)	(12		)	(3		)	(2		)
Net unrealized losses	$	(60	)	$	(43	)	$	(30	)	$	(21	)

Defined Benefit Plans (Losses) Gains:
Actuarial/Prior service gains	$	1		$	1		$	—		$	—
Actuarial/Prior service amortization⁽²⁾	27			19			31			20
Fuji Xerox changes in defined benefit plans, net⁽³⁾	(30		)	(30		)	(18		)	(18		)
Other⁽⁴⁾	(43		)	(44		)	(39		)	(38		)
Change in defined benefit plans losses	$	(45	)	$	(54	)	$	(26	)	$	(36	)

Other Comprehensive Income, net	$	48		$	63		$	238		$	240
Less: Other comprehensive income attributable to noncontrolling interests	1			1			—			—
Other Comprehensive Income Attributable to Xerox	$	47		$	62		$	238		$	240

_____________________________

(1) Reclassified to Cost of sales - refer to Note 11 - Financial Instruments for additional information regarding our cash flow hedges.

(2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information.

(3) Represents our share of Fuji Xerox's benefit plan changes.

(4) Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits included in AOCL.

Accumulated Other Comprehensive Loss (“AOCL”)

AOCL is comprised of the following:



	March 31, 2012			December 31, 2011
Cumulative translation adjustments	$	(780	)	$	(939	)
Benefit plans net actuarial losses and prior service credits⁽¹⁾	(1,857		)	(1,803		)
Other unrealized (losses) gains, net	(17		)	26
Total Accumulated Other Comprehensive Loss Attributable to Xerox	$	(2,654	)	$	(2,716	)

_____________________________


(1)	Includes our share of Fuji Xerox.

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

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+ Details

Earnings per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share of common stock (shares in thousands):



	Three Months Ended March 31,
	2012			2011
Basic Earnings per Share:
Net income attributable to Xerox	$	269		$	281
Accrued dividends on preferred stock	(6		)	(6		)
Adjusted Net Income Available to Common Shareholders	$	263		$	275
Weighted-average common shares outstanding	1,337,397			1,400,077
Basic Earnings per Share	$	0.20		$	0.20

Diluted Earnings per Share:
Net income attributable to Xerox	$	269		$	281
Accrued dividends on preferred stock	(6		)	(6		)
Adjusted Net Income Available to Common Shareholders	$	263		$	275
Weighted-average common shares outstanding	1,337,397			1,400,077
Common shares issuable with respect to:
Stock options	7,143			13,570
Restricted stock and performance shares	22,349			20,284
Convertible securities	1,992			1,992
Adjusted Weighted Average Common Shares Outstanding	1,368,881			1,435,923
Diluted Earnings per Share	$	0.19		$	0.19

The following securities were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive:

Stock options	41,543			54,486
Restricted stock and performance shares	20,466			18,988
Convertible preferred stock	26,966			26,966
	88,975			100,440

Dividends per common share	$	0.0425		$	0.0425

Contingencies

3 Months Ended

Mar. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Contingencies and Litigation

Brazil Tax and Labor Contingencies

Our Brazilian operations are involved in various litigation matters and have received or been the subject of numerous governmental assessments related to indirect and other taxes, as well as disputes associated with former employees and contract labor. The tax matters, which comprise a significant portion of the total contingencies, principally relate to claims for taxes on the internal transfer of inventory, municipal service taxes on rentals and gross revenue taxes. We are disputing these tax matters and intend to vigorously defend our position. Based on the opinion of legal counsel and current reserves for those matters deemed probable of loss, we do not believe that the ultimate resolution of these matters will materially impact our results of operations, financial position or cash flows.

The labor matters principally relate to claims made by former employees and contract labor for the equivalent payment of all social security and other related labor benefits, as well as consequential tax claims, as if they were regular employees. As of March 31, 2012, the total amounts related to the unreserved portion of the tax and labor contingencies, inclusive of any related interest, amounted to approximately $1,194 with the increase from December 31, 2011 balance of approximately $1,120, primarily related to interest and currency partially offset by closed cases. With respect to the unreserved balance of $1,194, the majority has been assessed by management as being remote as to the likelihood of ultimately resulting in a loss to the company. In connection with the above proceedings, customary local regulations may require us to make escrow cash deposits or post other security of up to half of the total amount in dispute. As of March 31, 2012 we had $252 of escrow cash deposits for matters we are disputing, and there are liens on certain Brazilian assets with a net book value of $16 and additional letters of credit of approximately $251, which include associated indexation. Generally, any escrowed amounts would be refundable and any liens would be removed to the extent the matters are resolved in our favor. We routinely assess all these matters as to probability of ultimately incurring a liability against our Brazilian operations and record our best estimate of the ultimate loss in situations where we assess the likelihood of an ultimate loss as probable.

Legal Matters

As more fully discussed below, we are involved in a variety of claims, lawsuits, investigations and proceedings concerning securities law, intellectual property law, environmental law, employment law and the Employee Retirement Income Security Act (“ERISA”). We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs.

Litigation Against the Company

In re Xerox Corporation Securities Litigation: A consolidated securities law action (consisting of 17 cases) is pending in the United States District Court for the District of Connecticut. Defendants are the Company, Barry Romeril, Paul Allaire and G. Richard Thoman. The consolidated action is a class action on behalf of all persons and entities who purchased Xerox Corporation common stock during the period October 22, 1998 through October 7, 1999 inclusive (“Class Period”) and who suffered a loss as a result of misrepresentations or omissions by Defendants as alleged by Plaintiffs (the “Class”). The Class alleges that in violation of Section 10(b) and/or 20(a) of the Securities Exchange Act of 1934, as amended (“1934 Act”), and SEC Rule 10b-5 thereunder, each of the defendants is liable as a participant in a fraudulent scheme and course of business that operated as a fraud or deceit on purchasers of the Company’s common stock during the Class Period by disseminating materially false and misleading statements and/or concealing material facts relating to the defendants’ alleged failure to disclose the material negative impact that the April 1998 restructuring had on the Company’s operations and revenues. The complaint further alleges that the alleged scheme: (i) deceived the investing public regarding the economic capabilities, sales proficiencies, growth, operations and the intrinsic value of the Company’s common stock; (ii) allowed several corporate insiders, such as the named individual defendants, to sell shares of privately held common stock of the Company while in possession of materially adverse, non-public information; and (iii) caused the individual plaintiffs and the other members of the purported class to purchase common stock of the Company at inflated prices. The complaint seeks unspecified compensatory damages in favor of the plaintiffs and the other members of the purported class against all defendants, jointly and severally, for all damages sustained as a result of defendants’ alleged wrongdoing, including interest thereon, together with reasonable costs and expenses incurred in the action, including counsel fees and expert fees. In 2001, the Court denied the defendants’ motion for dismissal of the complaint. The plaintiffs’ motion for class certification was denied by the Court in 2006, without prejudice to refiling. In February 2007, the Court granted the motion of the International Brotherhood of Electrical Workers Welfare Fund of Local Union No. 164, Robert W. Roten, Robert Agius (“Agius”) and Georgia Stanley to appoint them as additional lead plaintiffs. In July 2007, the Court denied plaintiffs’ renewed motion for class certification, without prejudice to renewal after the Court holds a pre-filing conference to identify factual disputes the Court will be required to resolve in ruling on the motion. After that conference and Agius’s withdrawal as lead plaintiff and proposed class representative, in February 2008 plaintiffs filed a second renewed motion for class certification. In April 2008, defendants filed their response and motion to disqualify Milberg LLP as a lead counsel. On September 30, 2008, the Court entered an order certifying the class and denying the appointment of Milberg LLP as class counsel. Subsequently, on April 9, 2009, the Court denied defendants’ motion to disqualify Milberg LLP. On November 6, 2008, the defendants filed a motion for summary judgment. Briefing with respect to the motion is complete. The Court has not yet rendered a decision. The parties also filed motions to exclude the testimony of certain expert witnesses. On April 22, 2009, the Court denied plaintiffs’ motions to exclude the testimony of two of defendants’ expert witnesses. On September 30, 2010, the Court denied plaintiffs’ motion to exclude the testimony of another of defendants’ expert witnesses. The Court also granted defendants’ motion to exclude the testimony of one of plaintiffs’ expert witnesses, and granted in part and denied in part defendants’ motion to exclude the testimony of plaintiffs’ two remaining expert witnesses. The individual defendants and we deny any wrongdoing and are vigorously defending the action. At this time, we do not believe it is reasonably possible that we will incur additional material losses in excess of the amount we have already accrued for this matter. In the course of litigation, we periodically engage in discussions with plaintiffs’ counsel for possible resolution of this matter. Should developments cause a change in our determination as to an unfavorable outcome, or result in a final adverse judgment or a settlement for a significant amount, there could be a material adverse effect on our results of operations, cash flows and financial position in the period in which such change in determination, judgment or settlement occurs.

Other Contingencies

We have issued or provided the following guarantees as of March 31, 2012:


•	$477 for letters of credit issued to i) guarantee our performance under certain services contracts; ii) support certain insurance programs; and iii) support our obligations related to the Brazil tax and labor contingencies.


•	$765 for outstanding surety bonds. Certain contracts, primarily those involving public sector customers, require us to provide a surety bond as a guarantee of our performance of contractual obligations.

In general, we would only be liable for the amount of these guarantees in the event of default in our performance of our obligations under each contract; the probability of which we believe is remote. We believe that our capacity in the surety markets as well as under various credit arrangements (including our Credit Facility) is sufficient to allow us to respond to future requests for proposals that require such credit support.

We have service arrangements where we service third party student loans in the Federal Family Education Loan program (“FFEL”) on behalf of various financial institutions. We service these loans for investors under outsourcing arrangements and do not acquire any servicing rights that are transferable by us to a third party. At March 31, 2012, we serviced a FFEL portfolio of approximately 4.2 million loans with an outstanding principal balance of approximately $60.9 billion. Some servicing agreements contain provisions that, under certain circumstances, require us to purchase the loans from the investor if the loan guaranty has been permanently terminated as a result of a loan default caused by our servicing error. If defaults caused by us are cured during an initial period, any obligation we may have to purchase these loans expires. Loans that we purchase may be subsequently cured, the guaranty reinstated and the loans repackaged for sale to third parties. We evaluate our exposure under our purchase obligations on defaulted loans and establish a reserve for potential losses, or default liability reserve, through a charge to the provision for loss on defaulted loans purchased. The reserve is evaluated periodically and adjusted based upon management’s analysis of the historical performance of the defaulted loans. As of March 31, 2012, other current liabilities include reserves of approximately $2 for losses on defaulted loans purchased.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

Operating segment revenues and profitability

Operating segment revenues and profitability were as follows:



	Three Months Ended March 31,
	Segment Revenue		Segment Profit (Loss)
2012
Services	$	2,821	$	263
Technology	2,338		245
Other	344		(52		)
Total	$	5,503	$	456
2011
Services	$	2,584	$	266
Technology	2,495		266
Other	386		(66		)
Total	$	5,465	$	466

Reconciliation to pre-tax income (loss)



	Three Months Ended March 31,
Reconciliation to Pre-tax Income	2012			2011
Segment Profit	$	456		$	466
Reconciling items:
Restructuring and asset impairment charges	(17		)	15
Restructuring charges of Fuji Xerox	(4		)	(11		)
Amortization of intangible assets	(82		)	(85		)
Equity in net income of unconsolidated affiliates	(40		)	(34		)
Other	—			(1		)
Pre-tax Income	$	313		$	350

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2012

Receivables [Abstract]

Schedule of accounts receivables sales

Accounts receivables sales were as follows:



	Three Months Ended March 31,
	2012			2011
Accounts receivable sales	$	875		$	730
Deferred proceeds	147			94
Fees associated with sales	6			4
Estimated decrease to operating cash flows⁽¹⁾	(68		)	(24		)

____________________________


(1)	Represents the difference between current and prior period receivable sales adjusted for the effects of: (i) the deferred proceeds, (ii) collections prior to the end of the quarter and (iii) currency.

Allowance for credit losses rollforward, and the investment in finance receivables

The following table is a rollforward of the allowance for doubtful finance receivables as well as the related investment in finance receivables:



	United States			Canada			Europe			Other⁽³⁾		Total
Allowance for Credit Losses:
Balance at December 31, 2011	$	75		$	33		$	91		$	2	$	201
Provision	2			1			12			—		15
Charge-offs	(4		)	(3		)	(12		)	—		(19		)
Recoveries and other⁽¹⁾	1			2			2			1		6
Balance at March 31, 2012	74			33			93			3		203
Finance receivables as of March 31, 2012 collectively evaluated for impairment⁽²⁾	$	2,889		$	829		$	2,614		$	136	$	6,468

Allowance for Credit Losses:
Balance at December 31, 2010	$	91		$	37		$	81		$	3	$	212
Provision	7			4			11			—		22
Charge-offs	(10		)	(5		)	(8		)	—		(23		)
Recoveries and other⁽¹⁾	(1		)	2			3			—		4
Balance at March 31, 2011	87			38			87			3		215
Finance receivables as of March 31, 2011 collectively evaluated for impairment⁽²⁾	$	3,074		$	874		$	2,865		$	76	$	6,889

_____________________________


(1)	Includes the impacts of foreign currency translation and adjustments to reserves necessary to reflect events of non-payment such as customer accommodations and contract terminations.


(2)	Total Finance receivables exclude residual values of $5 and $11, and the allowance for credit losses of $203 and $215 at March 31, 2012 and 2011, respectively.


(3)	Includes developing market countries and smaller units.

Credit quality indicators for finance receivables

Details about our finance receivables portfolio based on industry and credit quality indicators are as follows:



	March 31, 2012
	Investment Grade		Non-investment Grade		Substandard		Total Finance Receivables
Finance and Other Services	$	346	$	364	$	144	$	854
Government and Education	784		22		4		810
Graphic Arts	123		192		171		486
Industrial	171		84		31		286
Healthcare	120		49		26		195
Other	89		106		63		258
Total United States	1,633		817		439		2,889
Finance and Other Services	153		113		51		317
Government and Education	121		10		4		135
Graphic Arts	39		39		35		113
Industrial	59		42		33		134
Other	75		44		11		130
Total Canada	447		248		134		829
France	242		360		89		691
U.K./Ireland	208		163		58		429
Central⁽¹⁾	332		480		59		871
Southern⁽²⁾	214		246		61		521
Nordics⁽³⁾	65		34		3		102
Total Europe	1,061		1,283		270		2,614
Other	97		32		7		136
Total	$	3,238	$	2,380	$	850	$	6,468

	December 31, 2011
	Investment Grade		Non-investment Grade		Substandard		Total Finance Receivables
Finance and Other Services	$	349	$	380	$	160	$	889
Government and Education	821		20		4		845
Graphic Arts	126		200		172		498
Industrial	180		83		32		295
Healthcare	130		42		28		200
Other	97		93		76		266
Total United States	1,703		818		472		2,993
Finance and Other Services	153		118		51		322
Government and Education	121		9		4		134
Graphic Arts	36		39		35		110
Industrial	56		41		34		131
Other	74		42		12		128
Total Canada	440		249		136		825
France	246		354		92		692
U.K./Ireland	201		162		54		417
Central⁽¹⁾	330		494		57		881



Southern⁽²⁾	219		256		63		538
Nordics⁽³⁾	60		39		3		102
Total Europe	1,056		1,305		269		2,630
Other	75		26		7		108
Total	$	3,274	$	2,398	$	884	$	6,556

_____________________________


(1)	Switzerland, Germany, Austria, Belgium and Holland.


(2)	Italy, Greece, Spain and Portugal.


(3)	Sweden, Norway, Denmark and Finland.

Aging of billed finance receivables

The aging of our billed finance receivables is based upon the number of days an invoice is past due and is as follows:



	March 31, 2012
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed Finance Receivables		Unbilled Finance Receivables		Total Finance Receivables		Finance Receivables >90 Days and Accruing
Finance and Other Services	$	14	$	4	$	2	$	20	$	834	$	854	$	22
Government and Education	18		6		4		28		782		810		52
Graphic Arts	13		2		1		16		470		486		13
Industrial	7		2		1		10		276		286		10
Healthcare	4		2		1		7		188		195		9
Other	6		1		—		7		251		258		6
Total United States	62		17		9		88		2,801		2,889		112
Canada	3		3		1		7		822		829		26
France	1		1		1		3		688		691		13
U.K./Ireland	5		1		3		9		420		429		4
Central⁽¹⁾	4		3		4		11		860		871		53
Southern⁽²⁾	21		10		12		43		478		521		83
Nordics⁽³⁾	1		—		—		1		101		102		—
Total Europe	32		15		20		67		2,547		2,614		153
Other	3		—		—		3		133		136		1
Total	$	100	$	35	$	30	$	165	$	6,303	$	6,468	$	292

	December 31, 2011
	Current		31-90 Days Past Due		>90 Days Past Due		Total Billed Finance Receivables		Unbilled Finance Receivables		Total Finance Receivables		Finance Receivables >90 Days and Accruing
Finance and Other Services	$	18	$	4	$	1	$	23	$	866	$	889	$	15
Government and Education	21		5		2		28		817		845		29
Graphic Arts	16		2		1		19		479		498		7
Industrial	7		2		1		10		285		295		6
Healthcare	5		2		—		7		193		200		5
Other	8		1		—		9		257		266		4
Total United States	75		16		5		96		2,897		2,993		66
Canada	3		2		1		6		819		825		27
France	1		1		1		3		689		692		16
U.K./Ireland	3		2		3		8		409		417		4
Central⁽¹⁾	7		2		3		12		869		881		46
Southern⁽²⁾	31		4		13		48		490		538		82
Nordics⁽³⁾	1		—		—		1		101		102		—
Total Europe	43		9		20		72		2,558		2,630		148
Other	2		1		—		3		105		108		—
Total	$	123	$	28	$	26	$	177	$	6,379	$	6,556	$	241

_____________________________


(1)	Switzerland, Germany, Austria, Belgium and Holland.


(2)	Italy, Greece, Spain and Portugal.


(3)	Sweden, Norway, Denmark and Finland.

Inventories (Tables)

3 Months Ended

Mar. 31, 2012

Inventory Disclosure [Abstract]

Inventoires

The following is a summary of Inventories by major category:



	March 31, 2012		December 31, 2011
Finished goods	$	897	$	866
Work-in-process	56		58
Raw materials	112		97
Total Inventories	$	1,065	$	1,021

Investment in Affiliates, at Equity (Tables)

3 Months Ended

Mar. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

Equity in net income (loss) of unconsolidated affiliates

Our equity in net income of our unconsolidated affiliates was as follows:



	Three Months Ended March 31,
	2012		2011
Fuji Xerox	$	37	$	31
Other investments	3		3
Total Equity in Net Income of Unconsolidated Affiliates	$	40	$	34

Condensed financial data of Fuji Xerox

Condensed financial data of Fuji Xerox was as follows:



	Three Months Ended March 31,
	2012		2011
Summary of Operations:
Revenues	$	3,330	$	3,092
Costs and expenses	3,084		2,897
Income before income taxes	246		195
Income tax expense	97		60
Net Income	149		135
Less: Net income – noncontrolling interests	1		1
Net Income – Fuji Xerox	$	148	$	134
Weighted Average Rate⁽¹⁾	79.72		82.12

_____________________________


(1)	Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs (Tables)

3 Months Ended

Mar. 31, 2012

Restructuring and Related Activities [Abstract]

Restructuring Program Activity

Information related to restructuring program activity during the three months ended March 31, 2012 is outlined below:



	Severance and Related Costs			Lease Cancellation and Other Costs		Asset Impairments⁽²⁾			Total
Balance December 31, 2011	$	116		$	7	$	—		$	123
Restructuring provision	22			—		2			24
Reversals of prior accruals	(7		)	—		—			(7		)
Net current period charges⁽¹⁾	15			—		2			17
Charges against reserve and currency	(37		)	—		(2		)	(39		)
Balance March 31, 2012	$	94		$	7	$	—		$	101

_____________________________


(1)	Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown.


(2)	Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision.

Reconciliation to the Condensed Consolidated Statements of Cash Flows

Reconciliation to the Condensed Consolidated Statements of Cash Flows:



	Three Months Ended March 31,
	2012			2011
Charges against reserve	$	(39	)	$	(53	)
Asset impairment	2			—
Effects of foreign currency and other non-cash items	(2		)	(4		)
Cash Payments for Restructurings	$	(39	)	$	(57	)

Total Costs incurred with Restructuring programs, by segment

The following table summarizes the total amount of costs incurred in connection with these restructuring programs by segment:



	Three Months Ended March 31,
	2012			2011
Services	$	3		$	(1	)
Technology	17			(12		)
Other	(3		)	(2		)
Total Net Restructuring Charges	$	17		$	(15	)

Interest Expense and Income (Tables)

3 Months Ended

Mar. 31, 2012

Interest Expense And Income Disclosure [Abstract]

Interest Expense and Interest Income

Interest expense and interest income were as follows:



	Three Months Ended March 31,
	2012		2011
Interest expense⁽¹⁾	$	109	$	127
Interest income⁽²⁾	151		169

_____________________________


(1)	Includes Equipment financing interest, as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of Income.


(2)	Includes Finance income, as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of Income.

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Forward Foreign Exchange Contracts

The following is a summary of the primary hedging positions and corresponding fair values as of March 31, 2012:



Currency Hedged (Buy/Sell)	Gross Notional Value		Fair Value Asset (Liability)⁽¹⁾
Japanese Yen/U.S. Dollar	$	618	$	(19	)
Euro/U.K. Pound Sterling	616		(11		)
Japanese Yen/Euro	546		(17		)
U.S. Dollar/Euro	525		—
U.K. Pound Sterling/U.S. Dollar	217		—
U.S. Dollar/U.K. Pound Sterling	196		(5		)
Canadian Dollar/Euro	174		(1		)
U.K. Pound Sterling/Euro	171		1
Euro/Swiss Franc	122		—
Swiss Franc/Euro	95		—
Swedish Krona/Euro	89		—
Euro/Swedish Krona	77		(1		)
Mexican Peso/U.S. Dollar	60		(1		)
Euro/Japanese Yen	54		1
Euro/Norwegian Krone	50		—
U.S. Dollar/Japanese Yen	46		—
Indian Rupee/U.S. Dollar	46		(3		)
Euro/Danish Krone	45		—
All Other	294		1
Total Foreign Exchange Hedging	$	4,041	$	(55	)

_____________________________


(1)	Represents the net receivable (payable) amount included in the Condensed Consolidated Balance Sheet at March 31, 2012.

Summary of Derivative Instruments Fair Value

The following table provides a summary of the fair value amounts of our derivative instruments:



Designation of Derivatives	Balance Sheet Location	March 31, 2012			December 31, 2011
Derivatives Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	10		$	37
	Other current liabilities	(37		)	(11		)
	Net Designated (Liability)Asset	$	(27	)	$	26

Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	5		$	21
	Other current liabilities	(33		)	(20		)
	Net Undesignated (Liability) Asset	$	(28	)	$	1

Summary of Derivatives	Total Derivative Assets	$	15		$	58
	Total Derivative Liabilities	(70		)	(31		)
	Net Derivative (Liability) Asset	$	(55	)	$	27

Summary of Fair Value Hedges Gains (Losses)



Derivatives in Fair Value Relationships	Location of Gain (Loss) Recognized in Income	Derivative Gain (Loss) Recognized in Income Three Months Ended March 31,					Hedged Item Gain (Loss) Recognized in Income Three Months Ended March 31
Derivatives in Fair Value Relationships	Location of Gain (Loss) Recognized in Income	2012		2011			2012		2011
Interest rate contracts	Interest expense	$	—	$	(1	)	$	—	$	1

Summary of Cash Flow Hedges Gains (Losses)



Derivatives in Cash Flow Hedging Relationships	Derivative Gain (Loss) Recognized in OCI (Effective Portion) Three Months Ended March 31,						Location of Derivative Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Gain (Loss) Reclassified from AOCI to Income (Effective Portion) Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships	2012			2011				2012		2011
Foreign exchange contracts – forwards	$	(44	)	$	(27	)	Cost of sales	$	16	$	3

Summary of Derivatives Not Designated as Hedging Instruments Gains (Losses)

The following table provides a summary of gains (losses) on non-designated derivative instruments:



Derivatives NOT Designated as Hedging Instruments		Three Months Ended March 31,
Derivatives NOT Designated as Hedging Instruments	Location of Derivative Gain (Loss)	2012			2011
Foreign exchange contracts – forwards	Other expense – Currency gains (losses), net	$	(18	)	$	(31	)

Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The 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 is Level 2 – Significant Other Observable Inputs.</font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="69%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">March 31, 2012</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">December 31, 2011</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Foreign exchange contracts-forwards</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">15</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">58</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Deferred compensation investments in cash surrender life insurance</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">74</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">69</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Deferred compensation investments in mutual funds</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">23</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">23</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">112</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">150</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Foreign exchange contracts-forwards</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">70</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Deferred compensation plan liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">104</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">97</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">174</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">128</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

Estimated fair values of financial assets and liabilities not measured at fair value on a recurring basis

The estimated fair values of our other financial assets and liabilities not measured at fair value on a recurring basis were as follows:



	March 31, 2012				December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	1,514	$	1,514	$	902	$	902
Accounts receivable, net	2,909		2,909		2,600		2,600
Short-term debt	1,145		1,136		1,545		1,622
Long-term debt	8,483		9,022		7,088		7,497

- Definition

This element represents the disclosure related to assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Subparagraph a, b
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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+ Details

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Components of net periodic benefit cost and other changes in plan assets and benefit obligations

The components of Net periodic benefit cost and other changes in plan assets and benefit obligations were as follows:



	Pension Benefits						Retiree Health
	Three Months Ended March 31,						Three Months Ended March 31,
	2012			2011			2012			2011
Components of Net Periodic Benefit Costs:
Service cost	$	51		$	48		$	2		$	2
Interest cost	115			118			11			12
Expected return on plan assets	(129		)	(127		)	—			—
Recognized net actuarial loss	27			17			—			—
Amortization of prior service credit	(6		)	(6		)	(10		)	(10		)
Recognized settlement loss	16			30			—			—
Defined benefit plans	74			80			3			4
Defined contribution plans	16			16			—			—
Net periodic benefit cost	90			96			3			4

Other changes in plan assets and benefit obligations recognized in Other Comprehensive Income:
Net actuarial gain	(1		)	—			—			—
Amortization of net prior service credit	6			6			10			10
Amortization of net actuarial losses	(43		)	(47		)	—			—
Total recognized in Other Comprehensive Income⁽¹⁾	(38		)	(41		)	10			10
Total recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$	52		$	55		$	13		$	14

_____________________________


(1)	Amounts represent the pre-tax effect included within Other comprehensive income. Refer to Note 15 - Comprehensive Income for related tax effects and the after-tax amounts.

Shareholders Equity Shareholders Equity (Tables)

3 Months Ended

Mar. 31, 2012

Shareholders’ Equity [Abstract]

Schedule of Stockholders Equity [Table Text Block]



	Common Stock			Additional Paid-in Capital			Treasury Stock			Retained Earnings			AOCL⁽¹⁾			Xerox Shareholders’ Equity			Non- controlling Interests			Total Equity
Balance at December 31, 2011	$	1,353		$	6,317		$	(124	)	$	7,046		$	(2,716	)	$	11,876		$	149		$	12,025
Comprehensive income, net	—			—			—			269			62			331			8			339
Cash dividends declared-common stock⁽²⁾	—			—			—			(59		)	—			(59		)	—			(59		)
Cash dividends declared-preferred stock⁽³⁾	—			—			—			(6		)	—			(6		)	—			(6		)
Contribution of common stock to U.S. pension plan⁽⁴⁾	15			115			—			—			—			130			—			130
Stock option and incentive plans	1			37			—			—			—			38			—			38
Tax loss on stock option and incentive plans, net	—			(1		)	—			—			—			(1		)	—			(1		)
Payments to acquire treasury stock, including fees	—			—			(50		)	—			—			(50		)	—			(50		)
Cancellation of treasury stock	(21		)	(150		)	171			—			—			—			—			—
Distributions to noncontrolling interests	—			—			—			—			—			—			(25		)	(25		)
Balance at March 31, 2012	$	1,348		$	6,318		$	(3	)	$	7,250		$	(2,654	)	$	12,259		$	132		$	12,391



	Common Stock		Additional Paid-in Capital		Retained Earnings			AOCL⁽¹⁾			Xerox Shareholders’ Equity			Non- controlling Interests			Total Equity
Balance at December 31, 2010	$	1,398	$	6,580	$	6,016		$	(1,988	)	$	12,006		$	153		$	12,159
Comprehensive income, net	—		—		281			240			521			8			529
Cash dividends declared-common stock⁽²⁾	—		—		(61		)	—			(61		)	—			(61		)
Cash dividends declared-preferred stock⁽³⁾	—		—		(6		)	—			(6		)	—			(6		)
Stock option and incentive plans	3		45		—			—			48			—			48
Tax benefit on stock option and incentive plans, net	—		1		—			—			1			—			1
Distributions to noncontrolling interests	—		—		—			—			—			(6		)	(6		)
Balance at March 31, 2011	$	1,401	$	6,626	$	6,230		$	(1,748	)	$	12,509		$	155		$	12,664

_____________________________


(1)	Refer to Note 15- Comprehensive Income for components of AOCL.


(2)	Cash dividends declared on common stock of $0.0425 per share in each quarter of 2012 and 2011.


(3)	Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2012 and 2011.


(4)	Refer to Note 13 - Employee Benefit Plans for additional information.

Schedule of Treasury Stock by Class [Table Text Block]

The following is a summary of the purchases of common stock made during the three months ended March 31, 2012 under our authorized stock repurchase programs (shares in thousands):



	Shares		Amount
December 31, 2011	15,508		$	124
Purchases⁽¹⁾	6,100		50
Cancellations	(21,197	)	(171		)
March 31, 2012	411		$	3

____________________________


(1)	Includes associated fees.

Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2012

Comprehensive Income [Abstract]

Schedule of Comprehensive Income (Loss) [Table Text Block]

Other Comprehensive Income is comprised of the following:



	Three Months Ended March 31, 2012						Three Months Ended March 31, 2011
	Pre-tax			Net of Tax			Pre-tax			Net of Tax
Translation Adjustments Gains	$	153		$	160		$	294		$	297
Unrealized Losses:
Changes in fair value of cash flow hedge losses	(44		)	(31		)	(27		)	(19		)
Changes in cash flow hedges reclassed to earnings⁽¹⁾	(16		)	(12		)	(3		)	(2		)
Net unrealized losses	$	(60	)	$	(43	)	$	(30	)	$	(21	)

Defined Benefit Plans (Losses) Gains:
Actuarial/Prior service gains	$	1		$	1		$	—		$	—
Actuarial/Prior service amortization⁽²⁾	27			19			31			20
Fuji Xerox changes in defined benefit plans, net⁽³⁾	(30		)	(30		)	(18		)	(18		)
Other⁽⁴⁾	(43		)	(44		)	(39		)	(38		)
Change in defined benefit plans losses	$	(45	)	$	(54	)	$	(26	)	$	(36	)

Other Comprehensive Income, net	$	48		$	63		$	238		$	240
Less: Other comprehensive income attributable to noncontrolling interests	1			1			—			—
Other Comprehensive Income Attributable to Xerox	$	47		$	62		$	238		$	240

_____________________________

(1) Reclassified to Cost of sales - refer to Note 11 - Financial Instruments for additional information regarding our cash flow hedges.

(2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information.

(3) Represents our share of Fuji Xerox's benefit plan changes.

(4) Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits included in AOCL.

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

AOCL is comprised of the following:



	March 31, 2012			December 31, 2011
Cumulative translation adjustments	$	(780	)	$	(939	)
Benefit plans net actuarial losses and prior service credits⁽¹⁾	(1,857		)	(1,803		)
Other unrealized (losses) gains, net	(17		)	26
Total Accumulated Other Comprehensive Loss Attributable to Xerox	$	(2,654	)	$	(2,716	)

_____________________________


(1)	Includes our share of Fuji Xerox.

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share of common stock (shares in thousands):



	Three Months Ended March 31,
	2012			2011
Basic Earnings per Share:
Net income attributable to Xerox	$	269		$	281
Accrued dividends on preferred stock	(6		)	(6		)
Adjusted Net Income Available to Common Shareholders	$	263		$	275
Weighted-average common shares outstanding	1,337,397			1,400,077
Basic Earnings per Share	$	0.20		$	0.20

Diluted Earnings per Share:
Net income attributable to Xerox	$	269		$	281
Accrued dividends on preferred stock	(6		)	(6		)
Adjusted Net Income Available to Common Shareholders	$	263		$	275
Weighted-average common shares outstanding	1,337,397			1,400,077
Common shares issuable with respect to:
Stock options	7,143			13,570
Restricted stock and performance shares	22,349			20,284
Convertible securities	1,992			1,992
Adjusted Weighted Average Common Shares Outstanding	1,368,881			1,435,923
Diluted Earnings per Share	$	0.19		$	0.19

The following securities were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive:

Stock options	41,543			54,486
Restricted stock and performance shares	20,466			18,988
Convertible preferred stock	26,966			26,966
	88,975			100,440

Dividends per common share	$	0.0425		$	0.0425

Segment Reporting, Segment Revenue and Segment Profit (Loss) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2012 USD ($) offerings primaryreportablesegment	Mar. 31, 2011 USD ($)
Segment Reporting Information [Line Items]
Primary Reportable Segments, Number \| primaryreportablesegment	2
Outsourcing Service Offerings \| offerings	3
Segment Revenue	$ 5,503	$ 5,465
Segment Profit (Loss)	456	466
Services Segment [Member]
Segment Reporting Information [Line Items]
Segment Revenue	2,821	2,584
Segment Profit (Loss)	263	266
Technology Segment [Member]
Segment Reporting Information [Line Items]
Segment Revenue	2,338	2,495
Segment Profit (Loss)	245	266
Other [Member]
Segment Reporting Information [Line Items]
Segment Revenue	344	386
Segment Profit (Loss)	$ (52)	$ (66)

Segment Reporting, Reconciliation Of Operating Profit Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Reconciliation of Operating Profit (Loss) from Segments to Consolidated Pre-tax Income (Loss) [Line Items]
Segment Profit	$ 456	$ 466
Reconciling items:
Restructuring and asset impairment charges	(17)	15
Restructuring charges of Fuji Xerox	(4)	(11)
Amortization of intangible assets	(82)	(85)
Equity in net income of unconsolidated affiliates	(40)	(34)
Other	0	(1)
Pre-tax income	$ 313	$ 350

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 19
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 6
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.12)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6382870&loc=d3e33749-111570

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 11
-Article 7

+ Details

Acquisitions (Details) $ in Millions	1 Months Ended	3 Months Ended
Acquisitions (Details) $ in Millions	Feb. 29, 2012 USD ($)	Mar. 31, 2012 USD ($)
Business Acquisition [Line Items]
RK Dixon Acquisition	$ 58
Number of Businesses Acquired		2
Date of acquisition	February 2012
Services Segment Acquisitions		$ 29

- Definition

Month, date and year in which the acquirer obtains control of the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 3
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 10, 11
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 25
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6909708&loc=d3e848-128460

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6972119&loc=d3e1392-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 25
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6909708&loc=d3e845-128460

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Acquisition Date
-URI http://asc.fasb.org/extlink&oid=6919109

+ Details

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2012	Dec. 31, 2011
Inventories, net [Abstract]
Finished goods	$ 897	$ 866
Work-in-process	56	58
Raw materials	112	97
Total Inventories	$ 1,065	$ 1,021

Investment in Affiliates, at Equity (Details)
$ in Millions

3 Months Ended

Mar. 31, 2012

USD ($)

¥ / $

Mar. 31, 2011

USD ($)

¥ / $

Schedule of Equity Method Investments [Line Items]

Total Equity in Net Income (Loss) of Unconsolidated Affiliates

$ 40

$ 34

Fuji Xerox [Member]

Schedule of Equity Method Investments [Line Items]

Total Equity in Net Income (Loss) of Unconsolidated Affiliates

$ 37

Ownership percentage (in hundredths)

25.00%

After-tax restructuring charges included in equity income

$ 4

Summary of Operations:

Revenues

3,330

3,092

Cost and expenses

3,084

2,897

Income before income taxes

246

195

Income tax expense

Net Income

149

135

Less: Net income - noncontrolling interests

Net Income - Fuji Xerox

$ 148

$ 134

Weighted Average Rate used to translate the Summary of Operations | ¥ / $

^[1]

79.72

82.12

Other Equity Method Investments [Member]

Schedule of Equity Method Investments [Line Items]

Total Equity in Net Income (Loss) of Unconsolidated Affiliates

$ 3

[1]	Represents Yen/U.S. Dollar exchange rate used to translate.

Restructuring Programs (Details)
$ in Millions

3 Months Ended

Mar. 31, 2012

USD ($)

Mar. 31, 2011

USD ($)

Restructuring reserve [Roll Forward]

Balance at beginning of period

$ 123

Restructuring provision

Reversals of prior accruals

(7)

Net current period charges

^[1]

$ (15)

Charges against reserve and currency

(39)

(53)

Balance at end of period

101

Reconciliation to the Condensed Consolidated Statements of Cash Flows [Abstract]

Asset impairment

Effects of foreign currency and other non-cash items

(2)

(4)

Cash Payments for Restructurings

$ (39)

(57)

Restructuring and Related Cost, Number of Positions Eliminated

500

Restructuring Charges Expected in Future Period, Minimum

$ 20

Restructuring Charges Expected in Future Period, Maximum

Services Segment [Member]

Restructuring reserve [Roll Forward]

Net current period charges

(1)

Technology [Member]

Restructuring reserve [Roll Forward]

Net current period charges

(12)

Other [Member]

Restructuring reserve [Roll Forward]

Net current period charges

(3)

$ (2)

Severance and Related Costs [Member]

Restructuring reserve [Roll Forward]

Balance at beginning of period

116

Restructuring provision

Reversals of prior accruals

(7)

Net current period charges

^[1]

Charges against reserve and currency

(37)

Balance at end of period

Lease Cancellation and Other Costs [Member]

Restructuring reserve [Roll Forward]

Balance at beginning of period

Restructuring provision

Reversals of prior accruals

Net current period charges

^[1]

Charges against reserve and currency

Balance at end of period

Asset Impairments [Member]

Restructuring reserve [Roll Forward]

Balance at beginning of period

^[2]

Restructuring provision

^[2]

Reversals of prior accruals

^[2]

Net current period charges

^[2]

Charges against reserve and currency

^[2]

(2)

Balance at end of period

^[2]

$ 0

[1]	Represents net amount recognized within the Condensed Consolidated Statements of Income for the period shown
[2]	(2)Charges associated with asset impairments represent the write-down of the related assets to their new cost basis and are recorded concurrently with the recognition of the provision.

Debt Other debt information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 29, 2012	Mar. 31, 2012	Feb. 01, 2012
Extinguishment of Debt [Line Items]
Proceeds from Issuance of Senior Long-term Debt		$ 1,093
Deferred Finance Costs, Gross		6
Zero Coupon Notes due 2023 [Member]
Extinguishment of Debt [Line Items]
Debt, Zero Coupon Notes, Accreted Book Value at Date of Exchange			$ 303
Debt Instrument, Interest Rate, Stated Percentage			5.71%
Senior Notes due 2021 4.5% [Member]
Extinguishment of Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.50%
Debt Instrument, Increase, Additional Borrowings	$ 362
Debt Instrument, Increase, Total Borrowings	$ 1,062
Debt Instrument, Face Amount			$ 700
Floating Rate Senior Notes due 2013 [Member]
Extinguishment of Debt [Line Items]
Debt Instrument, Face Amount		$ 600
Debt Instrument, Basis Spread on Variable Rate		1.40%
Senior Notes 2.95% due 2017 [Member]
Extinguishment of Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		2.95%
Long-term Debt, Weighted Average Interest Rate		2.977%
Debt Instrument, Face Amount		$ 500
Percentage of par issued		99.875%
Senior Notes due 2012 [Member]
Extinguishment of Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.59%
Debt Instrument, Face Amount		$ 1,100

Interest Expense and Income (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Interest Expense And Income Disclosure [Abstract]

Interest expense

^[1]

$ 109

$ 127

Interest income

^[2]

$ 151

$ 169

[1]	Includes Equipment financing interest, as well as non-financing interest expense that is included in Other expenses, net in the Condensed Consolidated Statements of Income.
[2]	Includes Finance income, as well as other interest income that is included in Other expenses, net in the Condensed Consolidated Statements of Income.

Financial Instruments, Foreign Exchange Risk Management (Details) - USD ($)
$ in Millions

Mar. 31, 2012

Dec. 31, 2011

Foreign Exchange Contracts [Line Items]

Average Maturity of Foreign Exchange Hedging Contracts - within Three Months

80.00%

Average Maturity of Foreign Exchange Hedging Contracts - within Six Months

10.00%

Average Maturity of Foreign Exchange Hedging Contracts - within Six and Twelve Months

10.00%

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

$ 4,041

Fair Value Asset (Liability)

^[1]

(55)

Foreign Currency Cash Flow Hedges [Abstract]

Net asset (Liability) fair value

(27)

$ 26

Japanese Yen/U.S. Dollar [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

618

Fair Value Asset (Liability)

^[1]

(19)

Euro/U.K. Pound Sterling [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

616

Fair Value Asset (Liability)

^[1]

(11)

Japanese Yen Euro [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

546

Fair Value Asset (Liability)

^[1]

(17)

U S Dollar Euro [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

525

Fair Value Asset (Liability)

^[1]

U.K. Pound Sterling/U.S. Dollar [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

217

Fair Value Asset (Liability)

^[1]

U.S. Dollar/U.K Pound Sterling [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

196

Fair Value Asset (Liability)

^[1]

(5)

Canadian Dollar/Euro [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

174

Fair Value Asset (Liability)

^[1]

(1)

U.K. Pound Sterling/Euro [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

171

Fair Value Asset (Liability)

^[1]

Euro Swiss Franc Member

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

122

Fair Value Asset (Liability)

^[1]

Swiss Franc/Euro [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

Swedish Krona/Euro [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

Euro/Swedish Krona [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

(1)

Mexican Peso/U.S. Dollar [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

(1)

Euro Japanese Yen [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

Euro/Norwegian Krone [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

U.S. Dollar/Japanese Yen [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

Indian Rupee/U.S. Dollar [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

(3)

Euro/Danish Krone [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

Fair Value Asset (Liability)

^[1]

All Other [Member]

Summary of Foreign Exchange Hedging Positions [Abstract]

Gross Notional Value

294

Fair Value Asset (Liability)

^[1]

$ 1

[1]	(1)Represents the net receivable (payable) amount included in the Condensed Consolidated Balance Sheet at March 31, 2012.

Financial Instruments, Summary of Derivative Instruments Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2012	Dec. 31, 2011
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	$ 15	$ 58
Total Derivative Liabilities	(70)	(31)
Net Derivative (Liability) Asset	(55)	27
Derivatives Designated as Hedging Instruments [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets		26
Total Derivative Liabilities	(27)
Derivatives Designated as Hedging Instruments [Member] \| Foreign exchange contracts - forwards [Member] \| Other current assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	10	37
Derivatives Designated as Hedging Instruments [Member] \| Foreign exchange contracts - forwards [Member] \| Other current liabilities [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Liabilities	(37)	(11)
Not Designated as Hedging Instrument [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets		1
Total Derivative Liabilities	(28)
Not Designated as Hedging Instrument [Member] \| Foreign exchange contracts - forwards [Member] \| Other current assets [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Assets	5	21
Not Designated as Hedging Instrument [Member] \| Foreign exchange contracts - forwards [Member] \| Other current liabilities [Member]
Summary Of Derivative Instruments By Hedge Designation [Abstract]
Total Derivative Liabilities	$ (33)	$ (20)

Financial Instruments, Summary of Derivative Instruments Gain (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Summary of Derivative Instruments Gains (Losses) [Abstract]
Net losses recorded in AOCL expected to be reclassified to net income in the future	$ 18
Currency Losses Net	0	$ 1
Interest Rate Contracts [Member] \| Interest Expense [Member] \| Fair Value Hedging [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative Gain (Loss) Recognized in Income	0	(1)
Hedged Item Gain (Loss) Recognized in Income	0	1
Foreign exchange contracts - forwards [Member] \| Cash Flow Hedging [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative Gain (Loss) Recognized in OCI	(44)	(27)
Foreign exchange contracts - forwards [Member] \| Cost of Sales [Member] \| Cash Flow Hedging [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Gain (Loss) Reclassified from AOCI to Income	16	3
Foreign exchange contracts - forwards [Member] \| Other expense - Currency gains (losses), net [Member] \| Derivatives Not Designated as Hedging Instruments [Member]
Summary of Derivative Instruments Gains (Losses) [Abstract]
Derivative Gain (Loss) Recognized in Income	$ (18)	$ (31)

Financial Instruments Currency losses - total (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Currency losses [Abstract]
Currency Losses Net	$ 0	$ 1

Fair Value of Financial Assets and Liabilities, Recurring (Details) - Fair Value, Measurements, Recurring [Member] - Significant Other Observable Inputs (Level 2) [Member] - USD ($) $ in Millions	Mar. 31, 2012	Dec. 31, 2011
Assets:
Foreign exchange contracts-forwards	$ 15	$ 58
Deferred compensation investments in cash surrender life insurance	74	69
Deferred compensation investments in mutual funds	23	23
Total	112	150
Liabilities:
Foreign exchange contracts-forwards	70	31
Deferred compensation plan liabilities	104	97
Total	$ 174	$ 128

Fair Value of Financial Assets and Liabilities, Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Millions	Mar. 31, 2012	Dec. 31, 2011
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 1,514	$ 902
Accounts receivable, net	2,909	2,600
Short-term debt	1,145	1,545
Long-term debt	8,483	7,088
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1,514	902
Accounts receivable, net	2,909	2,600
Short-term debt	1,136	1,622
Long-term debt	$ 9,022	$ 7,497

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Company may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months.

+ References + Details

Employee Benefit Plans (Details) - USD ($)
shares in Millions, $ in Millions

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:

Net actuarial loss (gain)

$ (1)

$ 0

Amortization of net prior service credit

^[1]

Contributions [Abstract]

Contribution of common stock to a benefit plan

^[2]

130

Pension Benefits [Member]

Components of Net Periodic Benefit Costs:

Service cost

Interest cost

115

118

Expected return on plan assets

(129)

(127)

Recognized net actuarial loss

Amortization of prior service credit

(6)

Recognized settlement loss

Defined Benefit Plan, Net Periodic Benefit Cost

Net Periodic Benefit Plan, Defined Benefit and Contribution Plans

Defined Contribution Plan, Cost Recognized

Total net periodic benefit cost

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:

Net actuarial loss (gain)

(1)

Amortization of net prior service credit

Amortization of net actuarial losses

(43)

(47)

Total Recognized in Other Comprehensive Income

^[3]

(38)

(41)

Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income

Contributions [Abstract]

Contributions by employer

$ 79

Stock Issued During Period, Shares, Employee Benefit Plan

15.4

Contribution of common stock to a benefit plan

$ 130

Anticipated additional contributions

351

Anticipated cash contributions

430

Anticipated total contributions

560

Retiree Health [Member]

Components of Net Periodic Benefit Costs:

Service cost

Interest cost

Expected return on plan assets

Recognized net actuarial loss

Amortization of prior service credit

(10)

Recognized settlement loss

Defined Benefit Plan, Net Periodic Benefit Cost

Net Periodic Benefit Plan, Defined Benefit and Contribution Plans

Defined Contribution Plan, Cost Recognized

Total net periodic benefit cost

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:

Net actuarial loss (gain)

Amortization of net prior service credit

Amortization of net actuarial losses

Total Recognized in Other Comprehensive Income

^[3]

Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income

$ 14

Contributions [Abstract]

Contributions by employer

Anticipated additional contributions

Anticipated cash contributions

$ 80

[1]	(2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information.
[2]	(4)Refer to Note 13 - Employee Benefit Plans for additional information.
[3]	Amounts represent the pre-tax effect included within Other comprehensive income. Refer to Note 15 - Comprehensive Income for related tax effects and the after-tax amounts.

Shareholders Equity Shareholders Equity (Details 1) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2010

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

$ 12,259

$ 11,876

Stockholders' Equity Attributable to Noncontrolling Interest

132

149

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

12,391

$ 12,025

$ 12,664

$ 12,159

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

331

521

Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest

Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest

339

529

Dividends, Common Stock, Cash

^[1]

(59)

(61)

Dividends, Preferred Stock, Cash

^[2]

(6)

Stock Issued During Period, Value, Employee Benefit Plan

^[3]

130

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

(1)

Treasury Stock, Value, Acquired, Cost Method

^[4]

(50)

Treasury Stock, Retired, Cost Method, Amount

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

$ (25)

$ (6)

Common Stock, Dividends, Per Share, Declared

$ 0.0425

Preferred Stock, Dividends Per Share, Declared

$ 20.00

Parent [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

$ 12,259

$ 11,876

$ 12,509

12,006

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

331

521

Dividends, Common Stock, Cash

^[1]

(59)

(61)

Dividends, Preferred Stock, Cash

^[2]

(6)

Stock Issued During Period, Value, Employee Benefit Plan

^[3]

130

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

(1)

Treasury Stock, Value, Acquired, Cost Method

(50)

Treasury Stock, Retired, Cost Method, Amount

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

Common Stock [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

1,348

1,353

1,401

1,398

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

Dividends, Common Stock, Cash

^[1]

Dividends, Preferred Stock, Cash

^[2]

Stock Issued During Period, Value, Employee Benefit Plan

^[3]

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

Treasury Stock, Retired, Cost Method, Amount

(21)

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

Additional Paid-in Capital [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

6,318

6,317

6,626

6,580

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

Dividends, Common Stock, Cash

^[1]

Dividends, Preferred Stock, Cash

^[2]

Stock Issued During Period, Value, Employee Benefit Plan

^[3]

115

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

(1)

Treasury Stock, Retired, Cost Method, Amount

(150)

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

Treasury Stock [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

(3)

(124)

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

Dividends, Common Stock, Cash

^[1]

Dividends, Preferred Stock, Cash

^[2]

Stock Issued During Period, Value, Employee Benefit Plan

^[3]

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

Treasury Stock, Value, Acquired, Cost Method

(50)

Treasury Stock, Retired, Cost Method, Amount

(171)

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

Retained Earnings [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

7,250

7,046

6,230

6,016

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

269

281

Dividends, Common Stock, Cash

^[1]

(59)

(61)

Dividends, Preferred Stock, Cash

^[2]

(6)

Stock Issued During Period, Value, Employee Benefit Plan

^[3]

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

Treasury Stock, Value, Acquired, Cost Method

Treasury Stock, Retired, Cost Method, Amount

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

Accumulated Other Comprehensive Income (Loss) [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Parent

^[5]

(2,654)

(2,716)

(1,748)

(1,988)

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

^[5]

240

Dividends, Common Stock, Cash

^[1],[5]

Dividends, Preferred Stock, Cash

^[2],[5]

Stock Issued During Period, Value, Employee Benefit Plan

^[3],[5]

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

^[5]

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

^[5]

Treasury Stock, Value, Acquired, Cost Method

^[5]

Treasury Stock, Retired, Cost Method, Amount

^[5]

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

^[5]

Noncontrolling Interest [Member]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Stockholders' Equity Attributable to Noncontrolling Interest

132

$ 149

155

$ 153

Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest

Dividends, Common Stock, Cash

^[1]

Dividends, Preferred Stock, Cash

^[2]

^[3]

Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures

Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation

Treasury Stock, Retired, Cost Method, Amount

Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders

$ (25)

$ (6)

[1]	(2)Cash dividends declared on common stock of $0.0425 per share in each quarter of 2012 and 2011.
[2]	(3)Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2012 and 2011.
[3]	(4)Refer to Note 13 - Employee Benefit Plans for additional information.
[4]	(1)Includes associated fees.
[5]	(1)Refer to Note 15- Comprehensive Income for components of AOCL.

Shareholders Equity Shareholders Equity (Details 2)
shares in Thousands, $ in Millions

3 Months Ended

Mar. 31, 2012

USD ($)

Treasury Stock [Roll Forward]

Treasury Stock, Shares, Beginning (in shares) | shares

15,508

Treasury Stock, Value, Beginning

$ 124

Treasury Stock, Shares, Acquired | shares

6,100

^[1]

Treasury Stock, Value, Acquired, Cost Method

$ 50

^[1]

Treasury Stock, Shares, Retired | shares

(21,197)

Treasury Stock, Retired, Cost Method, Amount

$ 0

Treasury Stock, Shares, Ending (in shares) | shares

411

Treasury Stock, Value, Ending

$ 3

Treasury Stock [Member]

Treasury Stock [Roll Forward]

Treasury Stock, Value, Acquired, Cost Method

Treasury Stock, Retired, Cost Method, Amount

$ 171

[1]	(1)Includes associated fees.

- Definition

Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method.

+ References + Details

Comprehensive Income (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2012

Mar. 31, 2011

Dec. 31, 2011

Translation Adjustments Gains, Pre-tax

$ 153

$ 294

Translation Adjustments Gains, Net of Tax

160

297

Changes in fair value of cash flow hedges losses, Pre-tax

(44)

(27)

Changes in fair value of cash flow hedges losses, Net of tax

(31)

(19)

Changes in cash flow hedges reclassed to earnings, pre-tax

^[1]

(16)

(3)

Changes in cash flow hedges reclassed to earnings, net of tax

^[1]

(12)

(2)

Other, Net of Tax

(43)

(21)

Net unrealized losses, Pre-tax

(60)

(30)

Net unrealized losses, Net of Tax

(43)

(21)

Actuarial/Prior service gains, Pre-tax

Actuarial/Prior service gains, Net of Tax

Actuarial/Prior service amortization, Pre-tax

^[2]

Actuarial/Prior service amortization, Net of Tax

^[2]

Fjui Xerox changes in defined benefit plans, net, Pre-tax

^[3]

(30)

(18)

Fuji Xerox changes in defined benefit plans, net, Net of Tax

^[3]

(30)

(18)

Other, Pre-tax

^[4]

(43)

(39)

Other, Net of Tax

^[4]

(44)

(38)

Change in defined benefit plans losses, Pre-tax

(45)

(26)

Change in defined benefit plans losses, Net of Tax

(54)

(36)

Other Comprehensive Income, net, Pre-tax

238

Other Comprehensive Income, net, Net of Tax

240

Other comprehensive income attributable to noncontrolling interests, Pre-tax

Other comprehensive income attributable to noncontrolling interest, Net of Tax

Other Comprehensive Income Attributable to Xerox, Pre-tax

238

Other Comprehensive Income Attributable to Xerox, Net of Tax

$ 240

Cumulative translation adjustments

(780)

$ (939)

Benefit plans net actuarial losses and prior service credits

^[5]

(1,857)

(1,803)

Other unrealized (losses) gains, net

(17)

Total Accumulated Other Comprehensive Loss Attributable to Xerox

$ (2,654)

$ (2,716)

[1]	(1) Reclassified to Cost of sales - refer to Note 11 - Financial Instruments for additional information regarding our cash flow hedges.
[2]	(2) Reclassified to Total Net Periodic Benefit Cost - refer to Note 13 - Employee Benefit Plans for additional information.
[3]	(3) Represents our share of Fuji Xerox's benefit plan changes.
[4]	(4) Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits included in AOCL.
[5]	(1)Includes our share of Fuji Xerox.

Earnings per Share, Reconciliation (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions

3 Months Ended

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Basic Earnings per Share:

Net income attributable to Xerox

$ 269

$ 281

Accrued dividends on preferred stock

^[1]

(6)

Adjusted Net Income Available to Common Shareholders

$ 263

$ 275

Weighted-average common shares outstanding (in shares)

1,337,397

1,400,077

Basic Earnings per Share (in dollars per share)

$ 0.20

Diluted Earnings (Loss) per Share:

Net income attributable to Xerox

$ 269

$ 281

Accrued dividends on preferred stock

^[1]

(6)

Adjusted Net Income Available to Common Shareholders

$ 263

$ 275

Weighted-average common shares outstanding (in shares)

1,337,397

1,400,077

Common shares issuable with respect to:

Convertible Securities (in shares)

1,992

Adjusted Weighted Average Common Shares Outstanding (in shares)

1,368,881

1,435,923

Diluted Earnings per Share (in dollars per share)

$ 0.19

Dividends per common share (in dollars per share)

$ 0.0425

Stock Options [Member]

Common shares issuable with respect to:

Stock options and Restricted stock and performance shares (in shares)

7,143

13,570

Restricted Stock and performance shares [Member]

Common shares issuable with respect to:

Stock options and Restricted stock and performance shares (in shares)

22,349

20,284

[1]	(3)Cash dividends declared on preferred stock of $20.00 per share in each quarter of 2012 and 2011.

Earnings per Share, Anti Dilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	88,975	100,440
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	41,543	54,486
Restricted stock and performance shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	20,466	18,988
Convertible preferred stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive securities (in shares)	26,966	26,966

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Contingencies, Contingencies (Details) - Brazil Tax And Labor Contingencies [Member] - USD ($) $ in Millions	Mar. 31, 2012	Dec. 31, 2011
Loss Contingencies [Line Items]
Unreserved tax and labor contingencies	$ 1,194	$ 1,120
Escrow cash deposits	252
Net book value of assets with liens	16
Letters of credit	$ 251

Contingencies, Guarantor (Details) loans in Millions, $ in Millions	Mar. 31, 2012 USD ($) loans
Guarantor Obligations [Line Items]
Outstanding Student Loan Portfolio, Loans \| loans	4.2
Outstanding Principal Balance - Student Loan Portfolio	$ 60,900
Reserves for losses on defaulted loans	2
Contractual and Corporate Obligations Guarantee [Member]
Guarantor Obligations [Line Items]
Maximum exposure, undiscounted	477
Surety Bonds Guarantee [Member]
Guarantor Obligations [Line Items]
Maximum exposure, undiscounted	$ 765