DXC Technology Co. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>DXC Technology Co. filed its quarterly report (10-Q) for the period ending December 31, 2023, providing an update on its financial performance.</b>

AI Summary

DXC Technology Co (DXC) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. DXC Technology Co. reported financial results for the period ending December 31, 2023. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on March 31. The filing covers the period from April 1, 2023, to December 31, 2023. The report includes data for the quarter ending December 31, 2023, and comparative periods.

Why It Matters

For investors and stakeholders tracking DXC Technology Co, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for DXC Technology Co., crucial for assessing the company's current health and future prospects. Understanding the quarterly results allows stakeholders to track trends in revenue, profitability, and debt, which are key indicators of the company's operational efficiency and financial stability.

Risk Assessment

Risk Level: medium — DXC Technology Co shows moderate risk based on this filing. The filing is a standard quarterly report, which typically contains a mix of positive and negative financial information, making the overall sentiment neutral. Specific financial performance details are not yet available in this header data.

Analyst Insight

Review the full 10-Q filing to analyze specific revenue, profit, and debt figures to determine the company's financial trajectory.

Key Numbers

• 2023-12-31 — Report Period End Date (Conformed period of report)
• 2024-02-02 — Filing Date (Filed as of date)
• 2023-04-01 — Quarterly Report Start Date (Reporting period)
• 2023-12-31 — Quarterly Report End Date (Reporting period)

Key Players & Entities

• DXC Technology Co (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240202 (date) — Filed as of date
• 0001688568-24-000009 (filing) — Accession number
• 7374 (industry_code) — Standard Industrial Classification
• NV (state) — State of incorporation
• 0331 (fiscal_year_end) — Fiscal year end
• 10-Q (form_type) — Form type

FAQ

Industry Context

DXC Technology operates in the IT services industry, providing a range of technology solutions and services to businesses globally.

Regulatory Implications

As a publicly traded company, DXC Technology is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the full 10-Q filing for detailed financial statements, including revenue, net income, and cash flow.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into the company's performance drivers and outlook.
3. Review any disclosed risk factors and their potential impact on the company's future operations.

Key Dates

• 2024-02-02: Filing Date — Submission of the quarterly report.
• 2023-12-31: Reporting Period End — End date for the financial data presented in the 10-Q.
• 2023-04-01: Reporting Period Start — Start date for the financial data presented in the 10-Q.

Year-Over-Year Comparison

This is a 10-Q filing, representing a quarterly update. A comparison to the previous quarter's 10-Q and the prior year's 10-Q would be necessary for a full analysis of changes.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share DXC The New York St

Filing Documents

• dxc-20231231.htm (10-Q) — 1942KB
• a101interimceoofferletter.htm (EX-10.1) — 14KB
• dxc1231202310-qex311.htm (EX-31.1) — 13KB
• dxc1231202310-qex312.htm (EX-31.2) — 13KB
• dxc1231202310-qex321.htm (EX-32.1) — 5KB
• dxc1231202310-qex322.htm (EX-32.2) — 6KB
• dxc-20231231_g1.jpg (GRAPHIC) — 12KB
• image_0a.jpg (GRAPHIC) — 36KB
• image_2a.jpg (GRAPHIC) — 5KB
• 0001688568-24-000009.txt (&nbsp;) — 10396KB
• dxc-20231231.xsd (EX-101.SCH) — 61KB
• dxc-20231231_cal.xml (EX-101.CAL) — 116KB
• dxc-20231231_def.xml (EX-101.DEF) — 231KB
• dxc-20231231_lab.xml (EX-101.LAB) — 850KB
• dxc-20231231_pre.xml (EX-101.PRE) — 512KB
• dxc-20231231_htm.xml (XML) — 1930KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1. Financial Statements (unaudited) 1 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33 3. Quantitative and Qualitative Disclosures About Market Risk 49 4. Controls and Procedures 49

– OTHER INFORMATION

PART II – OTHER INFORMATION 1. Legal Proceedings 50 1A. Risk Factors 50 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 3. Defaults Upon Senior Securities 51 4. Mine Safety Disclosures 51 5. Other Information 51 6. Exhibits 52 PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Index to Condensed Consolidated Financial Statements Page Condensed Consolidated Statements of Operations for the Three and Nine Months Ended December 31, 2023 and December 31, 2022 (unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended December 31, 2023 and December 31, 2022 (unaudited) 3 Condensed Consolidated Balance Sheets as of December 31, 2023 and March 31, 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2023 and December 31, 2022 (unaudited) 5 Condensed Consolidated Statements of Changes in Equity for the Three and Nine Months Ended December 31, 2023 and December 31, 2022 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) Note 1–Summary of Significant Accounting Policies 8 Note 2–Divestitures 9 Note 3–Earnings Per Share 9 Note 4–Receivables 10 Note 5–Leases 10 Note 6–Fair Value 13 Note 7–Derivative Instruments 14 Note 8–Intangible Assets 17 Note 9–Goodwill 18 Note 10–Debt 19 Note 11–Revenue 20 Note 12–Restructuring Costs 21 Note 13–Pension and Other Benefit Plans 22 Note 14–Income Taxes 22 Note 15–Stockholders' Equity 24 Note 16–Stock Incentive Plans 24 Note 17–Cash Flows 25 Note 18–Segment Information 26 Note 19–Commitments and Contingencies 29 1 DXC TECHNOLOGY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended Nine Months Ended (in millions, except per-share amounts) December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 Revenues $ 3,399 $ 3,566 $ 10,281 $ 10,839 Costs of services (excludes depreciation and amortization and restructuring costs) 2,636 2,799 7,988 8,504 Selling, general and administrative (excludes depreciation and amortization and restructuring costs) 294 315 949 988 Depreciation and amortization 350 375 1,055 1,144 Restructuri

Business

Business DXC Technology Company ("DXC," the "Company," "we," "us," or "our") helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness and customer experience across their IT estates. Basis of Presentation In order to make this report easier to read, DXC refers throughout to (i) the interim unaudited Condensed Consolidated Financial Statements as the "financial statements," (ii) the Condensed Consolidated Statements of Operations as the "statements of operations," (iii) the Condensed Consolidated Statements of Comprehensive Income (Loss) as the "statements of comprehensive income (loss)," (iv) the Condensed Consolidated Balance Sheets as the "balance sheets," and (v) the Condensed Consolidated Statements of Cash Flows as the "statements of cash flows." In addition, references are made throughout to the numbered Notes to the Condensed Consolidated Financial Statements ("Notes") in this Quarterly Report on Form 10-Q. The accompanying financial statements include the accounts of DXC, its consolidated subsidiaries, and those business entities in which DXC maintains a controlling interest. Investments in business entities in which the Company does not have control, but has the ability to exercise significant influence over operating and financial policies, are accounted for by the equity method. Other investments are accounted for by the cost method. Non-controlling interests are presented as a separate component within equity in the balance sheets. Net earnings attributable to the non-controlling interests are presented separately in the statements of operations and comprehensive income (loss). All intercompany transactions and balances have been eliminated. Certain amounts re

View Full Filing

View this 10-Q filing on SEC EDGAR