Non-GAAP Financial Measures
Amortization of acquired intangible assets. Thank you for your interest in Conduent. The metric is for indicative purposes only. In providing the outlook for Adjusted EBITDA we exclude certain items which are otherwise included in determining the comparable U.S. GAAP financial measure. CONDUENT INCORPORATED
North America Overview Asia Pacific Overview About Conduent Conduent delivers mission-critical services and solutions on behalf of businesses and governments - creating exceptional outcomes for its clients and the millions of people who count on them. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. 313 0 obj
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He's emailed the "New Hiring Coordinator" multiple times over the past week. (3) 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 the adjustments listed. New Business ACV of $180M increased for the fourth consecutive quarter, with strong contributions of $124M from the Commercial segment. Tax effects were immaterial. Cliff Skelton, Conduent President and CEO stated, Q1 2022 was another solid quarterwhere we met or exceeded expectations. Our actual results may vary materially from those expressed or implied in our forward-looking statements. (2) Refer to Appendix for definition. Other charges (credits). The international dial-in is 1-201-689-8337. 294 0 obj
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(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. Restructuring and related costs include restructuring and asset impairment charges as well as costs associated with our strategic transformation program. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. Divestitures. 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) Adjusted for the full impact from revenue and income/loss from divestitures for all periods presented. Conference Call
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 transformation progress; Our ability to outrun the one-time government stimulus volumes that benefited 2021 and to demonstrate growth; and our projected financial performance for the full year 2022, including all statements made under the section captioned FY 2022 and 2023 Outlook within this release. endstream
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<. Society for HR Management, Navigating COVID-19, Impact of the Pandemic on Metal Health, May 2020, 6. Scan this QR code to download the app now. FLORHAM PARK, N.J., May 03, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its first quarter 2022 financial results. I' was born in Nuernberg . A reconciliation of the following non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP are provided below. Answered October 25, 2017. 1. 261 0 obj
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Additional 2021 Performance Highlights
Our people are united in their passion to make a positive difference - within their teams, communities, and society at large. Restructuring and related costs include restructuring and asset impairment charges as well as costs associated with our strategic transformation program. This includes charges in connection with the abandonment of a cloud computing project. 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. Upvote 4 Downvote 2 Adjusted EBITDA of $107M and Adjusted EBITDA Margin of 11.1% benefited from a one-time recovery of $14M in defense costs as a portion of the settlement with insurance carriers relating to a previously disclosed legal matter. 4. Client Relationship Management and Service Delivery, Professional Services and Project Management. Cost basis and return based on previous market day close. Conduent, Inc. (CNDT 0.90%) Q1 2021 Earnings Call . endstream
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<. He got the equipment, but now wants to send it back. You may be asked to provide the store's WIC Vendor ID number. Conduent can help. The Net ARR Activity Metric for Q4 2021 was strong at $128M, up 113% versus Q4 2020 and continues to be positive for the fifth consecutive quarter. The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/. It is why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Through our dedicated people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. Conduent delivers mission-critical services and solutions on behalf of businesses and governments creating exceptional outcomes for its clients and the millions of people who count on them. We have added certain adjustments to account for items which we do not believe reflect our core business or operating performance, and we computed all periods with such adjusted costs. endstream
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The Net ARR Activity Metric for Q1 2022 was $102M, up 17% versus Q1 2021 and continues to be positive. Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin. This includes Other (income) expenses, net on the Condensed Consolidated Statements of Income (loss) and other insignificant (income) expense associated with providing transition services on the California Medicaid contract loss and other adjustments. A representative will contact you shortly. 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. %PDF-1.6
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Conduent will not request money or your banking or credit card information C ommunity Huddle Find information on events and updates that are happening this month.. Rose/Tower Barracks meetings are conducted on the fourth Wednesday of the month.. Hohenfels meetings are conducted every quarter.. Garmisch-Partenkirchen Town Hall.. 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. In addition, we have discussed our financial results using non-GAAP measures. That building is gone now like quite a few others, it's a parking . This metric is not indicative of any specific 12 month timeframe. 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. When I got on the train to Nuernberg, I . In addition, we have discussed our financial results using non-GAAP measures. Learn more at https://www.conduent.com . 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. 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. Revenue from divestitures in the first quarter of 2019. Outlook for Adjusted Free Cash Flow is provided as a factor of expected Adjusted EBITDA, see above. 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. Any forward-looking statements made by us in this release speak only as of the date on which they are made. About Conduent
Cliff Skelton, Conduent President and CEO stated, "In 2021, we met or exceeded our commitments. All Conduent employees are responsible for energy conservation. Management believes that the adjusted effective tax rate, provided as supplemental information, facilitates a comparison by investors of our actual effective tax rate with an adjusted effective tax rate which reflects the impact of the items which are excluded in providing adjusted net income and certain other identified items, and may provide added insight into our underlying business results and how effective tax rates impact our ongoing business. Related Links 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. This years Earth Day theme is Invest in Our Planet, which serves as a reminder that, like most of the important things we rely on, we should not take our planets resources for granted. With more than 60,000 associates across 24 countries, we will provide you the opportunity to grow with a team of people who will challenge and inspire you to be the best! 4. 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. At Conduent, you are part of a team, making a difference in the lives of millions every day. It provides travelers and transport operators with a new level of mobility. Non-GAAP Reconciliations: Adjusted Weighted Average Shares Outstanding, Adjusted Diluted EPS, Adjusted Effective Tax Rate, Adjusted Operating Margin and Adjusted EBITDA Margin were as follows: (1) Average shares for the 2021 and 2020 calculation of adjusted EPS excludes 5.4 million shares associated with our Series A convertible preferred stock and includes the impact of preferred stock dividend of approximately $3 million and $10 million for the three months and years ended December 31, 2021 and 2020, respectively. endobj
A reconciliation of the following non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP are provided below. ,:%Kk@k3L]/D. Adjusted EBITDA represents income (loss) before interest, income taxes, depreciation and amortization and contract inducement amortization adjusted for the following items. While this pandemic has been a time of great challenge, it also represents an opportunity for HR leaders to broaden workplace planning initiatives, digitize interactions, reexamine skillsets and look more critically at their mix of onsite vs. work-at-home resources. Learn more now. HR leaders should also consider new digital behavioral tools (such as online cognitive therapies and self-help resources) and also plan for virtual open enrollment this year. These forward-looking statements are also subject to the significant continuing impact of the COVID-19 pandemic on our business, operations, financial results and financial condition, which is dependent on developments which are highly uncertain and cannot be predicted. 2. Space where no one can see your work station that is quiet and private. The conference call will also be available by calling 1-877-407-4019 toll-free. This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The international conference ID is also 13728764. The tax effect of the non-GAAP adjustments was calculated based upon evaluation of the statutory tax treatment and the applicable statutory tax rate in the jurisdictions in which such charges were incurred. The telephone recording will be available until March 2, 2022. To better understand trends in our business, we believe that it is helpful to adjust revenue to exclude the impact of changes in the translation of foreign currencies into U.S. Interest expense. This metric is not indicative of any specific 12 month timeframe. 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. This includes Other (income) expenses, net on the Condensed Consolidated Statements of Income (loss) and other insignificant (income) expense associated with providing transition services on the California Medicaid contract loss and other adjustments. Payment of any Adjusted EBITDA is not intended to represent cash flows from operations, operating income (loss) or net income (loss) as defined by U.S. GAAP as indicators of operating performance. See below for sales and support contact options. Revenue and Adjusted Revenue were lower than prior year period, primarily driven by significant non-recurring stimulus payments volume in our Government Services business in the prior year. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED). Answered November 21, 2017 - BGCO agent (Current Employee) - Colorado Springs, CO. Not really. Monitoring virus infection rates and geographic trends is critical right now, as well as understanding the impact of federal, state and local regulations. stream
Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. Abandonment of Cloud Computing Project. 5. The amortization of acquired intangible assets is driven by acquisition activity, which can vary in size, nature and timing as compared to other companies within our industry and from period to period. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Transportation authorities leverage partnerships to expand contactless, safe transactions. The metric annualizes the net impact to revenue. (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. (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 the Total Non-GAAP adjustments. Yes training is paid, and you get paid bi-weekly. These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED), CONDUENT INCORPORATED
equipment in a safe manner, and that the items/services furnished will be (i) in full compliance with Buyer's . 1. Ultimately, CXM is about the ability to demonstrate that you can deliver optimal value to customers and extract optimal value from those interactions. *Please select location from the dropdown. 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. The noted income tax effect for our non-GAAP performance measures is effectively the difference in income taxes for reported and adjusted pre-tax income calculated under the annual effective tax rate method. In order to provide a meaningful basis for comparison, we are providing information with respect to our Free Cash Flow reconciled to cash flow provided by operating activities, which we believe to be the most directly comparable measure under U.S. GAAP. Now is the time to develop iterative, flexible strategies that can adapt with workplace challenges and health and government mandates as the COVID-19 pandemic runs it course and with the upcoming flu season on the horizon. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. The noted income tax effect for our non-GAAP performance measures is effectively the difference in income taxes for reported and adjusted pre-tax income calculated under the annual effective tax rate method. In accordance with the provisions of the Litigation Reform Act, we are making investors aware that such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make. He got the equipment, but now wants to send it back. <>>>
Management believes that the adjusted effective tax rate, provided as supplemental information, facilitates a comparison by investors of our actual effective tax rate with an adjusted effective tax rate which reflects the impact of the items which are excluded in providing adjusted net income and certain other identified items, and may provide added insight into our underlying business results and how effective tax rates impact our ongoing business. Such as with Free Cash Flow information, as so adjusted, it is specifically not intended to provide amounts available for discretionary spending. FLORHAM PARK, N.J., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its fourth quarter and full year 2021 financial results. 3. 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. Centers for Disease Control and Prevention, COVID-19 Pandemic Planning Scenarios, July 2020, 5. instructions at Seller's risk and expense or return such items to Seller at Seller's risk and expense. 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. We refer to this adjusted revenue as constant currency. Currency impact is determined as the difference between actual growth rates and constant currency growth rates. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with U.S. GAAP, to exclude the effects of certain items as well as their related tax effects. Whether working remotely or in an office our sense of community is nurtured by constant interaction, collaboration, and connection. The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/ . You must have a hard internet connection (no wifi). This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. 2. but never sends them. 2 0 obj
To better understand trends in our business, we believe that it is helpful to adjust revenue to exclude the impact of changes in the translation of foreign currencies into U.S. When you join Conduent, you are engaged in creating the future both our companys and your own. Learn more at www.conduent.com. This metric excludes COVID-related volume impacts and non-recurring revenue signings. Conduent (CNDT) Q4 2022 Earnings Call Transcript. (Gain) loss on divestitures and transaction costs. Want more information about Conduent's business or solutions? The tapering of these government payment volumes in the fourth quarter resulted in Q4 Adjusted EBITDA Margin of 10.9%.
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