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Press Release: DXC Technology Reports Third -5-

· 02/04/2021 16:15
CONTACT: Richard Adamonis, Corporate Media Relations, +1-862-228-3481, radamonis@dxc.com(in millions, except Restructuring Integration- Intangible Disposition of Settlement Tax Non-GAAP per-share amounts) As Reported Costs Related Costs Assets Businesses Losses Adjustment Results ----------------------- ----------- --------------- ---------------- -------------- --------------- ------------ -------------- ----------- Costs of services (excludes depreciation and amortization and restructuring costs) $10,525 $ -- $ -- $ -- $ -- $ -- $ -- $10,525 Selling, general and administrative (excludes depreciation and amortization and restructuring costs) 1,595 -- (314) -- -- -- -- 1,281 Income (loss) before income taxes 1,447 441 307 414 (2,046) 2 -- 565 Income tax expense (benefit) 789 75 70 95 (903) -- (2) 124 ------- --------------- ---------- ---- -------------- ----------- ------------ ---------- ------- Net income (loss) 658 366 237 319 (1,143) 2 2 441 Less: net income attributable to non-controlling interest, net of tax 9 -- -- -- -- -- -- 9 ------- --------------- ---------- ---- -------------- ----------- ------------ ---------- ------- Net income (loss) attributable to DXC common stockholders $ 649 $ 366 $ 237 $ 319 $ (1,143) $ 2 $ 2 $ 432 ====== ===== ======== === ===== ==== ===== ======= ======= ==== ====== === ===== ====== Effective tax rate 54.5% 21.9% Basic EPS $ 2.55 $ 1.44 $ 0.93 $ 1.26 $ (4.50) $ 0.01 $ 0.01 $ 1.70 Diluted EPS $ 2.54 $ 1.43 $ 0.93 $ 1.25 $ (4.48) $ 0.01 $ 0.01 $ 1.69 Weighted average common shares outstanding for: Basic EPS 254.03 254.03 254.03 254.03 254.03 254.03 254.03 254.03 Diluted EPS 255.20 255.20 255.20 255.20 255.20 255.20 255.20 255.20 Three Months Ended December 31, 2019 --------------------------------------------------------------------------------------------------------- Transaction, Separation Amortization and of Acquired Goodwill (in millions, except As Restructuring Integration- Intangible Impairment Tax Non-GAAP per-share amounts) Reported Costs Related Costs Assets Losses Adjustment Results ----------------------- ---------- --------------- ----------------- -------------- ------------- -------------- ---------- Costs of services (excludes depreciation and amortization and restructuring costs) $3,827 $ -- $ -- $ -- $ -- $ -- $3,827 Selling, general and administrative (excludes depreciation and amortization and restructuring costs) 518 -- (68) -- -- -- 450 Income before income taxes 127 74 68 146 53 -- 468 Income tax expense (benefit) 37 10 16 34 53 (10) 140 ------ --------------- ---------- ----- -------------- ------------- ---------- ------ Net income 90 64 52 112 -- 10 328 Less: net income attributable to non-controlling interest, net of tax 8 -- -- -- -- -- 8 ------ --------------- ---------- ----- -------------- ------------- ---------- ------ Net income attributable to DXC common stockholders $ 82 $ 64 $ 52 $ 112 $ -- $ 10 $ 320 ===== ===== ======== === ===== ===== ===== ======= ==== ======= === ===== ===== Effective Tax Rate 29.1% 29.9% Basic EPS $ 0.32 $ 0.25 $ 0.20 $ 0.44 $ -- $ 0.04 $ 1.25 Diluted EPS $ 0.32 $ 0.25 $ 0.20 $ 0.44 $ -- $ 0.04 $ 1.25 Weighted average common shares outstanding for: Basic EPS 255.09 255.09 255.09 255.09 255.09 255.09 255.09 Diluted EPS 256.05 256.05 256.05 256.05 256.05 256.05 256.05 Nine Months Ended December 31, 2019 ---------------------------------------------------------------------------------------------------------------------------- Transaction, Amortization Separation and of Acquired Goodwill Gain on (in millions, except As Restructuring Integration- Intangible Impairment Arbitration Tax Non-GAAP per-share amounts) Reported Costs Related Costs Assets Losses Award Adjustment Results ----------------------- ----------- --------------- ---------------- -------------- ------------- ---------------- -------------- ----------- Costs of services (excludes depreciation and amortization and restructuring costs) $11,128 $ -- $ -- $ -- $ -- $ -- $ -- $11,128 Selling, general and administrative (excludes depreciation and amortization and restructuring costs) 1,514 -- (226) -- -- -- -- 1,288 (Loss) income before income taxes (1,666) 248 226 435 2,940 (632) -- 1,551 Income tax expense (benefit) 191 42 43 99 53 -- (39) 389 ------- --------------- ---------- ---- -------------- ------------- ---------- ---- ---------- ------- Net (loss) income (1,857) 206 183 336 2,887 (632) 39 1,162 Less: net income attributable to non-controlling interest, net of tax 17 -- -- -- -- -- -- 17 ------- --------------- ---------- ---- -------------- ------------- ---------- ---- ---------- ------- Net (loss) income attributable to DXC common stockholders $(1,874) $ 206 $ 183 $ 336 $ 2,887 $ (632) $ 39 $ 1,145 ====== ===== ======== === ===== ==== ===== ======= === ======== ====== === === ===== ====== Effective Tax Rate (11.5)% 25.1% Basic EPS $ (7.20) $ 0.79 $ 0.70 $ 1.29 $ 11.09 $ (2.43) $ 0.15 $ 4.40 Diluted EPS $ (7.20) $ 0.79 $ 0.70 $ 1.28 $ 11.03 $ (2.42) $ 0.15 $ 4.38 Weighted average common shares outstanding for: Basic EPS 260.24 260.24 260.24 260.24 260.24 260.24 260.24 260.24 Diluted EPS 260.24 261.69 261.69 261.69 261.69 261.69 261.69 261.69

The above tables serve to reconcile the Non-GAAP financial measures to the most directly comparable GAAP measures. Please refer to the "About Non-GAAP Financial Measures" section of our press release for further information on the use of these Non-GAAP measures.

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February 04, 2021 16:15 ET (21:15 GMT)