These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. The Pros and Cons of Working From Home Working from home can be an appealing career move. 294 0 obj <> endobj Work at Home Solutions - Conduent These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. In addition, all statements regarding the proposed separation of the Transportation business, 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. 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. 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 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. Represents (gain) loss on divested businesses and transaction costs. This includes charges in connection with the abandonment of a cloud computing project. Our client satisfaction ratings have increased for the third consecutive year, contributing to new client wins and better retention which in turn, resulted in the Net ARR Activity metric being positive for the fifth consecutive quarter. These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. <> 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. Free Cash Flow is defined as cash flows from operating activities as reported on the consolidated statement of cash flows, less cost of additions to land, buildings and equipment, cost of additions to internal use software, and proceeds from sales of land, buildings and equipment. Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin. Want more information about Conduent's business or solutions? He got a better offer and no longer wants to work with Conduent. 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. The international conference ID is also 13725756. Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. Society for HR Management, Navigating COVID-19, Impact of the Pandemic on Metal Health, May 2020 5. Our team of child support subject matter experts participate in the conference and other NCSEA activities throughout the year. A place to talk about making an income online. That building is gone now like quite a few others, it's a parking . Conduent operates in many countries around the world with focus on broad industries, making the difference in the lives of millions every day. Net ARR Activity Metric ( 2) (TTM): Q4 $128M. Conduent Announces First Quarter 2022 Financial Results 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. 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. Integration of new policies including adjusted schedules, increased sanitation practices, masks, social distancing and other safety procedures are crucial as well as having a detailed communications plan to engage and inform team members. 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. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. About Conduent A representative will contact you shortly. 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. Through our dedicated people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. 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. 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. 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. The replay ID is 13725756. %%EOF 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. 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. A recording of the conference call will be available by calling 1-877-660-6853 one hour after the conference call concludes. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Conduent achieved several milestones in operational excellence, client satisfaction, and culture, including; (1) Refer to Appendix for definition and complete non-GAAP reconciliations of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Diluted EPS from Continuing Operations and Adjusted Free Cash Flow Abandonment of Cloud Computing Project. 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. . However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Companys reported results prepared in accordance with U.S. GAAP. 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. Other charges (credits). Centers for Disease Control and Prevention, COVID-19 Pandemic Planning Scenarios, July 2020, 5. 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. 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. Payment of any Non-GAAP Financial Measures In addition, we have discussed our financial results using non-GAAP measures. 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. For the same reason, we are unable to provide GAAP expected adjusted tax rate, which adjusts for our non-GAAP adjustments. Implemented as a standalone or integrated component of ATLAS, this highly configurable system is compatible with all mobile phone . 2. Prepare for the next wave instructions at Seller's risk and expense or return such items to Seller at Seller's risk and expense. Amortization of acquired intangible assets. % CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED), CONDUENT INCORPORATED 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. 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. 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. 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. 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. In 2021, Conduent Transportation identified an opportunity to help address violence against women, girls, and vulnerable people by expanding the Ask for Angela campaign beyond the hospitality industry, The month of December is a busy month, filled with holidays and celebrations, many of which include gift-giving and good food -- lots and lots of good food! ACCEPTANCE. Conduent and Conduent Agile Star are trademarks of Conduent, Inc. and/or its subsidiaries in the United States and/or other countries. When Reducing Costs, Cutting Customer Experience Isnt the Answer, Driving Toward Sustainable Cities: Enhancing accessibility and optimizing passenger flows, Employers must leverage a strategic rewards package for a competitive advantage in a tight labor market -- one that demonstrates a great employee experience (EX), a supportive culture, and the full va. Conduent is proud to be a Platinum Corporate Sponsor of NCSEA. Conduent Seamless Transportation System is a universal system for secure, ticketless public transport and service payments by smartphone. Interest expense. 5. Anyone got any advice or an idea of where to send it back to? Stateside blog, 2020 State and Local Government Responses to COVID-19, July 2020, 2. Amortization of acquired intangible assets. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED). 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 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. You may be asked to provide the store's WIC Vendor ID number. 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. Q1 2022 Performance Commentary endobj Start typing a location to get suggestions, then press the down arrow to select one. Consumers are driving a revolution in digital payments and industries are challenged to meet customer expectations or lose their business. Purchase Order Terms and Conditions . Learn more at https://www.conduent.com . 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 includes interest on long-term debt and amortization of debt issuance costs. In addition, we have discussed our financial results using non-GAAP measures. Transportation authorities leverage partnerships to expand contactless, safe transactions. %%EOF Integrate new workplace policies When you join Conduent, you are engaged in creating the future - both our company's and your own. 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. Cliff Skelton, Conduent President and CEO stated, Q1 2022 was another solid quarterwhere we met or exceeded expectations. Conduent Careers If requested, the conference ID for this call is 13725756. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Yes training is paid, and you get paid bi-weekly. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. 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. 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. A description of the adjustments which historically have been applicable in determining Adjusted EBITDA are reflected in the table below. Society for HR Management, Navigating COVID-19, Impact of the Pandemic on Metal Health, May 2020, 6. Downvote 2. The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/. Adjusted EBITDA Margin is Adjusted EBITDA divided by revenue or adjusted revenue, as applicable. Both Government and Transportation revenues grew in 2021 versus prior year, with Commercial revenue trends continuing to improve in 2021. Additional Q1 2022 Performance Highlights Dollars. (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. Centers for Disease Control and Prevention, COVID-19 Pandemic Planning Scenarios, July 2020 He's emailed the "New Hiring Coordinator" multiple times over the past week. New Business ACV of $180M increased for the fourth consecutive quarter, with strong contributions of $124M from the Commercial segment. About Conduent My experience with Rent a bike Nuernberg was excellent from start to finish. Adjusted Free Cash Flow is defined as Free Cash Flow from above plus taxes paid on gains from divestitures, litigation insurance recoveries, transaction costs, and certain other identified adjustments. (1) Includes $5 million and $8 million restricted cash as of December 31, 2021 and 2020, respectively, that were included in Other current assets on their respective Condensed Consolidated Balance Sheets. When I got on the train to Nuernberg, I . " Sweet memories, they hurt so good! Return to Work 2020 - Conduent Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to reported results. We are not paying $1,000 or getting in trouble for something we've tried to solve. If requested, the conference ID for this call is 13728764. The conference call will also be available by calling 1-877-407-4019 toll-free. endstream endobj startxref `:XuCGGXmh{G:Fb8=#%2`cPb0T/@17r 7ZlDc@ .~ This represents Goodwill impairment charges related to the unanticipated losses of certain customer contracts, lower potential future volumes and lower than expected new customer contracts for all reporting units. So far its looking promising! This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Other charges (credits). We use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. The guy replied once saying "I'll send you the labels shortly!" Conduents solutions deliver exceptional outcomes for its clients including $18 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, up to 27% reduction in government benefits costs, up to 40% improvement in finance, accounting and procurement expense, and improved customer service interaction times by up to 20% with higher end-user satisfaction. endobj Children are the heart of the celebrations. Management will present the results during a conference call and webcast on February16, 2022 at 5:00 p.m. Federal Services - Conduent 154 questions about Hiring Process at Conduent. ,:%Kk@k3L]/D. 2. It provides travelers and transport operators with a new level of mobility.

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