$DXC

DXC Technology Co

CIK:0001688568|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 2,999	$ 3,159
Costs of services (excludes depreciation and amortization and restructuring costs)	2,388	2,388
Selling, general and administrative (excludes depreciation and amortization and restructuring costs)	328	394
Depreciation and amortization	267	304
Restructuring costs	26	37
Interest expense	55	54
Interest income	(89)	(46)
Other income, net	(217)	(39)
Total costs and expenses	2,758	3,092
Income before income taxes	241	67
Income tax expense	115	49
Net income	126	18
Less: net income attributable to non-controlling interest, net of tax	4	2
Net income attributable to DXC common stockholders	$ 122	$ 16
Income per common share:
Basic (in dollars per share)	$ 0.75	$ 0.09
Diluted (in dollars per share)	$ 0.73	$ 0.09

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 126	$ 18
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	271	309
Goodwill impairment losses	0	14
Operating right-of-use expense	72	76
Share-based compensation	17	22
Deferred taxes	49	(12)
Gain on dispositions	(2)	(1)
Unrealized foreign currency exchange gain	(7)	(47)
Impairment losses and contract write-offs	0	1
Other non-cash charges, net	(2)	(3)
Changes in assets and liabilities:
(Increase) decrease in assets	(20)	90
Decrease in operating lease liability	(72)	(76)
Decrease in other liabilities	(14)	(205)
Net cash provided by operating activities	418	186
Cash flows from investing activities:
Purchases of property and equipment	(59)	(43)
Payments for transition and transformation contract costs	(23)	(30)
Software purchased and developed	(22)	(16)
Proceeds from sale of assets	5	10
Other investing activities, net	0	2
Net cash used in investing activities	(99)	(77)
Cash flows from financing activities:
Payments on finance leases and borrowings for asset financing	(38)	(49)
Taxes paid related to net share settlements of share-based compensation awards	(10)	(12)
Repurchase of common stock	(71)	(48)
Other financing activities, net	(1)	(1)
Net cash used in financing activities	(120)	(110)
Effect of exchange rate changes on cash and cash equivalents	21	(3)
Net increase (decrease) in cash and cash equivalents	220	(4)
Cash and cash equivalents at beginning of year	1,737	1,796
Cash and cash equivalents at end of period	$ 1,957	$ 1,792

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Mar. 31, 2026
Current assets:
Cash and cash equivalents	$ 1,957	$ 1,737
Receivables and contract assets, net of allowance of $25 and $27	2,892	2,973
Prepaid expenses	556	526
Other current assets	108	126
Total current assets	5,513	5,362
Intangible assets, net of accumulated amortization of $6,036 and $5,977	1,518	1,612
Operating right-of-use assets, net	637	663
Goodwill	527	527
Deferred income taxes, net	753	802
Property and equipment, net of accumulated depreciation of $3,210 and $3,229	1,129	1,122
Other assets	2,849	2,802
Total Assets	12,926	12,890
Current liabilities:
Short-term debt and current maturities of long-term debt	501	520
Accounts payable	689	561
Accrued payroll and related costs	587	564
Operating lease liabilities	234	232
Accrued expenses and other current liabilities	1,129	1,261
Deferred revenue and advance contract payments	715	748
Income taxes payable	61	53
Total current liabilities	3,916	3,939
Long-term debt, net of current maturities	3,003	3,032
Non-current deferred revenue	559	559
Non-current operating lease liabilities	436	463
Non-current income tax liabilities and deferred tax liabilities	500	502
Other long-term liabilities	1,184	1,186
Total Liabilities	9,598	9,681
Commitments and contingencies
DXC stockholders’ equity:
Preferred stock, par value $0.01 per share; authorized 1,000,000 shares; none issued as of June 30, 2026 and March 31, 2026	0	0
Common stock, par value $0.01 per share; authorized 750,000,000 shares; issued 168,276,567 as of June 30, 2026 and 171,946,069 as of March 31, 2026	1	1
Additional paid-in capital	6,749	7,016
Accumulated deficit	(2,601)	(2,937)
Accumulated other comprehensive loss	(835)	(890)
Treasury stock, at cost, 7,392,532 and 6,460,358 shares as of June 30, 2026 and March 31, 2026	(257)	(249)
Total DXC stockholders’ equity	3,057	2,941
Non-controlling interest in subsidiaries	271	268
Total Equity	3,328	3,209
Total Liabilities and Equity	$ 12,926	$ 12,890