CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED). Non-GAAP Reconciliations: Revenue at Constant Currency, Adjusted Net Income (Loss), Adjusted Effective Tax, Adjusted Operating Income (Loss) and Adjusted EBITDA were as follows: (1) Included in Depreciation and amortization on the Consolidated Statements of Income (Loss). Related Articles. Management cautions that amounts presented in accordance with Conduent's definition of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similar measures disclosed by other companies because not all companies calculate Adjusted EBITDA and Adjusted EBITDA Margin in the same manner. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. ACCEPTANCE. Global Parking and Curbside Management Market Report 2023 is spread across106 pagesand provides exclusive vital statistics, data, information, trends and competitive landscape details in this . Monitoring virus infection rates and geographic trends is critical right now, as well as understanding the impact of federal, state and local regulations. PDF Environmental Policy Region/Country: Effective Date: Scope - Conduent Such as with Free Cash Flow information, as so adjusted, it is specifically not intended to provide amounts available for discretionary spending. The metric annualizes the net impact to revenue. Adjusted Net Income (Loss), Adjusted Diluted Earnings per Share, Adjusted Weighted Average Common Shares Outstanding, and Adjusted Effective Tax Rate. ET. It eliminates most of the traditional aspects of going to work, like commuting and dressing in business attire, while reducing social interaction and standard means of accountability. Conduent, Inc. (CNDT) Q1 2021 Earnings Call Transcript Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. Conduent Announces Fourth Quarter and Full Year 2021 Financial Results, Conduent to Host Virtual Investor Briefing on March 30, 2023, Conduent Reports Fourth Quarter and Full Year 2022 Financial Results, Conduent to Report Fourth-Quarter and Full-Year 2022 Financial Results on February 14, 2023, GAAP net income (loss) from Continuing Operations, GAAP Diluted EPS from Continuing Operations, Adjusted Diluted EPS from Continuing Operations, Cost of services (excluding depreciation and amortization), Selling, general and administrative (excluding depreciation and amortization), Research and development (excluding depreciation and amortization), Loss on divestitures and transaction costs, Shares of common stock issued and outstanding, Shares of series A convertible preferred stock issued and outstanding. We use Adjusted EBITDA and Adjusted EBITDA Margin as an additional way of assessing certain aspects of our operations that, when viewed with the U.S. GAAP results and the accompanying reconciliations to corresponding U.S. GAAP financial measures, provide a more complete understanding of our on-going business. They provide the computer monitor/tower, headset, keyboard and mouse. In providing the outlook for Adjusted EBITDA we exclude certain items which are otherwise included in determining the comparable U.S. GAAP financial measure. Adjusted EBITDA Margin is Adjusted EBITDA divided by revenue or adjusted revenue, as applicable. Net income was $136M up significantly versus prior year period, reflecting the gain on sale of the Midas divestiture and insurance recoveries relating to a previously disclosed legal matter. 0 Thank you for your interest in Conduent. Adjusted EBITDA represents income (loss) before interest, income taxes, depreciation and amortization and contract inducement amortization adjusted for the following items. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions, and providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. The conference call will also be available by calling 1-877-407-4019 toll-free. Management will present the results during a conference call and webcast on February16, 2022 at 5:00 p.m. The computer is a think pad. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED). According to the paperwork I signed you will be receiving a $1500 iMac that must be returned at the end of employment. When I got on the train to Nuernberg, I . We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise. Conduent? Work from home tech support? : r/WorkOnline - Reddit They usually send you an iMac with keyboard and mouse. Scan this QR code to download the app now. Abandonment of Cloud Computing Project. The costs include writing off previously capitalized costs and remaining hosting fees that would have continued to be incurred without any economic benefit. Dollars. Full year 2021 Adjusted EBITDA of $487M and Adjusted EBITDA Margin of 11.8% benefited from government payment volumes. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. 294 0 obj <> endobj We make adjustments to Revenue, Costs and Expenses and Operating Margin, as applicable, for the following items, for the purpose of calculating Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin: We provide our investors with adjusted revenue, adjusted operating income and adjusted operating margin information, as supplemental information, because we believe it offers added insight, by itself and for comparability between periods, by adjusting for certain non-cash items as well as certain other identified items which we do not believe are indicative of our ongoing business, and may also provide added insight on trends in our ongoing business. Litigation costs (recoveries), net. Downvote 2. We use Adjusted EBITDA and Adjusted EBITDA Margin as an additional way of assessing certain aspects of our operations that, when viewed with the U.S. GAAP results and the accompanying reconciliations to corresponding U.S. GAAP financial measures, provide a more complete understanding of our on-going business. Conduent GSP February 2021 . We focused on execution, efficiency, driving improved client and end-user experiences and received recognition for our culture, technology-enabled solutions and overall delivery excellence. CONDUENT INCORPORATED Conduent achieved several milestones in client satisfaction, industry recognition and culture, including; (1) Refer to Appendix for definition and complete non-GAAP reconciliations of Adjusted Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS and Adjusted Free Cash Flow. Do you get paid for the training and if so, when? We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Yes. Refer to the "Non-GAAP Financial Measures" section attached to this release for a discussion of these non-GAAP measures and their reconciliation to the reported U.S. GAAP measures. hb```%,@( Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin. McKinsey Digital, Global Survey, May 2019, Omnichannel Success Starts with Intelligent Orchestration, Street Reach Indy Project wins 2020 IPMI Marketing Award. (2) The tax impact of Adjusted Pre-tax income (loss) from continuing operations was calculated under the same accounting principles applied to the 'As Reported' pre-tax income (loss), which employs an annual effective tax rate method to the results and without regard to divestitures, charges for amortization of intangible assets, restructuring, loss on extinguishment of debt and charges for abandonment of a cloud computing project. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Consolidated Financial Statements prepared in accordance with U.S. GAAP. %PDF-1.6 % (1) All amounts are net of tax. Conduents differentiated services and solutions improve experiences for millions of people every day, including three out of every four U.S. insured patients, 10 million employees who use its HR Services, and nearly 18 million benefits recipients. We recently announced our intention to separate the Transportation business to unlock additional value and we believe the best course of action will be to spin that business as opposed to a sale, at this point in time. For tolling agencies, new technologies are speeding and simplifying journeys while driving cost-savings and enhancing consumer experiences. Cliff Skelton, Conduent President & CEO stated, "Q3 2022 was a solid quarter for Conduent, continuing to deliver on our financial and client commitments. Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. Adjustments required to reconcile net income (loss) to cash flows from operating activities: (Gain) loss on divestitures and sales of fixed assets, net, Changes in operating assets and liabilities, Net cash provided by (used in) operating activities, Cost of additions to land, buildings and equipment, Cost of additions to internal use software, Net cash provided by (used in) investing activities, Net cash provided by (used in) financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Increase (decrease) in cash, cash equivalents and restricted cash, Cash, Cash Equivalents and Restricted Cash at Beginning of Period, Amortization of acquired intangible assets, Divestitures depreciation and amortization, Restricted stock and performance units / shares, EBITDA Margin Before Adjustment for Divestitures, Portion of Texas litigation settlement (recoveries) recognized in Litigation settlements (recoveries), net, Annual Recurring Revenue (ARR) signings: $107M, Total Contract Value (TCV) new business signings: $464M, Recognized as a Supplier of the Year by General Motors for the second year in a row, Named a Leader on Everest Group Healthcare Payer Operations PEAK Matrix Assessment 2022, Recognized as a Rising Leader CX Operations Transformation - Cost Optimization Capability by NelsonHall, Named a Top 15 Service & Technology Provider Standout by the U.S. Information Services Group (ISG), Named to Government Technology magazines 2022 GovTech 100 for making a difference in working with state and local government agencies across the United States, Earned a perfect score of 100 on the Human Rights Campaign Foundations 2022 Corporate Equality Index (CEI), measuring policies and practices related to LGBTQ workplace equality, Honored by Comparably with two Best Places to Work Awards for 2021, including one of the Best Companies for Women and one of the Best Companies for Diversity, placing Conduent among the Top 100 highest-rated companies in these categories. Tax effects were immaterial. Yes training is paid, and you get paid bi-weekly. Stateside blog, 2020 State and Local Government Responses to COVID-19, July 2020 Our people are united in their passion to make a positive difference - within their teams, communities, and society at large. We use Adjusted Free Cash Flow, in addition to Free Cash Flow, to provide supplemental information to our investors concerning our ability to generate cash from our ongoing operating activities and for performance based components of employee compensation; by excluding certain deferred compensation costs and our one-time Texas settlement costs, as well as transaction costs and transaction cost tax benefits related to acquisitions or divestitures, we believe we provide useful additional information to our investors to help them further understand our ability to generate cash period-over-period as well as added information on comparability to our competitors. Projected Annual Recurring Revenue for contracts signed in the prior 12 months, less the annualized impact of any client losses, contractual volume and price changes, and other known impacts for which the company was notified in that same time period, which could positively or negatively impact results. In providing the outlook for Adjusted EBITDA we exclude certain items which are otherwise included in determining the comparable U.S. GAAP financial measure. The costs include writing off previously capitalized costs and remaining hosting fees that would have continued to be incurred without any economic benefit. 223 0 obj <> endobj Automated Fare Collection Solutions - Conduent Transportation An email has been sent to you with instructions to set up your email alert. 2021 Conduent, Inc. All rights reserved. This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. " Sweet memories, they hurt so good! These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. CONDUENT INCORPORATED Environmental Protection This policy commits to reducing our impact on the environment through: Mitigating climate change through cleaner energy, where practicable, and managing emissions effectively . Ehemalige SS-Kaserne (Nuremberg) - All You Need to Know - Tripadvisor Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied herein as anticipated, believed, estimated, expected or intended or using other similar expressions. hbbd```b``"W8|,.fH0)&+``v "9M"+R$@YL[A@y c7 This includes random jobs, online employers, sites that pay you and ways to monetize websites. Everything is done online, including the calls. Is your organization ready for the return to work? Conduent and Conduent Agile Star are trademarks of Conduent, Inc. and/or its subsidiaries in the United States and/or other countries. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). I' was born in Nuernberg . All statements other than statements of historical fact included in this press release are forward-looking statements, including, but not limited to, statements regarding our financial results, condition and outlook; changes in our operating results; general market and economic conditions; our plans to separate the Transportation business to unlock additional value; that the best course of action will be to spin the Transportation business as opposed to a sale; expectations regarding our clients continuing to seek business process outsourcing capabilities to increase efficiency, enhance customer experience and improve performance; our belief that we are strongly positioned as a partner of choice to provide these critical services and solutions; and our projected financial performance for the full year 2022, including all statements made under the section captioned FY 2022 Outlook within this release. (1) Includes $5 million and $10 million restricted cash as of March 31, 2022 and 2021, respectively, that were included in Other current assets on their respective Condensed Consolidated Balance Sheets.