I'd like to thank our dedicated team for their continued strong execution in 2021., Key Financial Q4 & Full Year 2021 Results. " Sweet memories, they hurt so good! Our people are united in their passion to make a positive difference - within their teams, communities, and society at large. Full year 2021 revenue of $4,140M was substantially unchanged versus prior year, benefiting from strong non-recurring stimulus payments volume in our Government Services business and new business ramp across all segments, offset by lost business from prior years. 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. The metric is for indicative purposes only. 5. Learn more at www.conduent.com. 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. Nice well maintained equipment with friendly & efficient service. Timing of revenue impact varies and may not be realized within the forward 12-month timeframe. New Business Annual Contract Value (ACV): (New Business TCV / contract term) multiplied by 12. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED). 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. ET. 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! (3) Normalized for the impact of payment of deferred payroll taxes primarily related to the CARES Act of $32M in 2021 and $27M in 2022, Adjusted Free Cash Flow as a percentage of Adjusted EBITDA for 2021 is approximately 25% and approximately 22% in 2022. McKinsey Digital, Global Survey, May 2019, Legal, Compliance, and Analytics Solutions, Return to Work 2020: 6 Imperatives for HR Managers. Restructuring and related costs. CONDUENT INCORPORATED These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Learn more now. stream (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. (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. Tax effects were immaterial. 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. We tried calling him (37 times) and he won't answer his phone and his voicemail isnt set up. . According to the paperwork I signed you will be receiving a $1500 iMac that must be returned at the end of employment. In addition, all statements regarding the anticipated effects of the novel coronavirus, or COVID-19, pandemic and the responses thereto, including the pandemics impact on general economic and market conditions, as well as on our business, customers, and markets, results of operations and financial condition and anticipated actions to be taken by management to sustain our business during the economic uncertainty caused by the pandemic and related governmental and business actions, as well as other statements that are not strictly historical in nature, are forward looking. 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. 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. No work phone, you won't need it. (Gain) loss on divestitures and transaction costs. Conference Call If you get hired as a CSR remote employee, will they provide equipment prior to the start date? Conduent will not ask you purchase equipment to start working. 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. 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. 3. level 2. The conference call will also be available by calling 1-877-407-4019 toll-free. (Gain) loss on divestitures and transaction costs. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. 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. 7 months ago Mindshift: Preparing the New, Truly Hybrid, Salesforce Gain insights into how organizations must re-examine the way they train and educate sales reps in the article, "Mindshift: Preparing the New, Truly Hybrid, Salesforce," by Conduent's Gwen Phinizy This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Our German-American "Country-Expression" Band used to play at the club in the back. Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: the significant continuing effects of the ongoing 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; government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our reliance on third-party providers; our ability to deliver on our contractual obligations properly and on time; changes in interest in outsourced business process services; risk and impact of geopolitical events, natural disasters and other factors (such as pandemics, including coronavirus) in a particular country or region on our workforce, customers and vendors; claims of infringement of third-party intellectual property rights; our ability to estimate the scope of work or the costs of performance in our contracts; the loss of key senior management and our ability to attract and retain necessary technical personnel and qualified subcontractors; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings and protect our intellectual property rights; our ability to modernize our information technology infrastructure and consolidate data centers; the failure to comply with laws relating to individually identifiable information and personal health information; the failure to comply with laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to comply with data security standards; changes in tax and other laws and regulations; risk and impact of potential goodwill and other asset impairments; our significant indebtedness; our ability to obtain adequate pricing for our services and to improve our cost structure; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to receive dividends or other payments from our subsidiaries; developments in various contingent liabilities that are not reflected on our balance sheet, including those arising as a result of being involved in a variety of claims, lawsuits, investigations and proceedings; conditions abroad, including local economics, political environments, fluctuating foreign currencies and shifting regulatory schemes; changes in government regulation and economic, strategic, political and social conditions; changes in the volatility of our stock price and the risk of litigation following a decline in the price of our stock; uncertainty regarding whether the proposed separation of the Transportation business will be commenced or completed and the timing and value of such transaction; and other factors that are set forth in the Risk Factors section, the Legal Proceedings section, the Management's Discussion and Analysis of Financial Condition and Results of Operations section and other sections in our 2021 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. We are providing such outlook only on a non-GAAP basis because the Company is unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of these adjustments for the forward-looking period, which can be dependent on future events that may not be reliably predicted. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). 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. 4y. The metric annualizes the net impact to revenue. Cliff Skelton, Conduent President and CEO stated, In 2021, we met or exceeded our commitments. If you are unable to attend the Community Huddle in person but have ideas, issues, or . If requested, the conference ID for this call is 13728764. We make adjustments to Net Income (Loss) before Income Taxes for the following items, as applicable, to the particular financial measure, for the purpose of calculating Adjusted Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings per Share, Adjusted Weighted Average Common Shares Outstanding, and Adjusted Effective Tax Rate: The Company provides adjusted net income and adjusted EPS financial measures to assist our investors in evaluating our ongoing operating performance for the current reporting period and, where provided, over different reporting periods, by adjusting for certain items which may be recurring or non-recurring and which in our view do not necessarily reflect ongoing performance. 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. A description of the adjustments which historically have been applicable in determining Adjusted EBITDA are reflected in the table below. We use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. The words anticipate, believe, estimate, expect, "plan," intend, will, aim, should, could, forecast, target, may, "continue to," "if, growing, projected, potential, likely, and similar expressions, as they relate to us, are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. 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. Connect with an expert. He got the equipment, but now wants to send it back. 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. Hi there, My fiance has been trying to get ahold of someone from Conduent HR to return his computer and equipment they sent him. In addition, for "FY 2021 Actuals" we are excluding the estimated impacts of $70 million of Revenue and $39 million of Adjusted EBITDA related to the divestiture of the Midas business. 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. These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. We are providing such outlook only on a non-GAAP basis because the Company is unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of these adjustments for the forward-looking period, which can be dependent on future events that may not be reliably predicted. %PDF-1.6 % I' was born in Nuernberg . In addition, we have discussed our financial results using non-GAAP measures. `:XuCGGXmh{G:Fb8=#%2`cPb0T/@17r 7ZlDc@ .~ Keeping a sharp focus on these areas will help ensure compliance and safety, minimize business disruption and avoid fines, lawsuits and surges in infection rates. The international conference ID is also 13728764. (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. 3. For the same reason, we are unable to provide GAAP expected adjusted tax rate, which adjusts for our non-GAAP adjustments. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED), CONDUENT INCORPORATED 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. 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. CONDUENT INCORPORATED 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. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED), CONDUENT INCORPORATED Yes training is paid, and you get paid bi-weekly. Such as with Free Cash Flow information, as so adjusted, it is specifically not intended to provide amounts available for discretionary spending. North America Overview Asia Pacific Overview A representative will contact you shortly. Through our dedicated people, processes, and technologies, Conduent solutions and services enhance customer experience, increase efficiencies, reduce costs, and improve performance for most Fortune 100 companies and more than 500 government entities. Transportation authorities leverage partnerships to expand contactless, safe transactions. Full year 2021 Adjusted EBITDA of $487M and Adjusted EBITDA Margin of 11.8% benefited from government payment volumes. Since the global outbreak began, Over 1,800 executive actions have been issued in total across the 50 U.S. states and territories.

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