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. So far its looking promising! 1. Non-GAAP Financial Measures Conduent Seamless Transportation System is a universal system for secure, ticketless public transport and service payments by smartphone. Hi there, My fiance has been trying to get ahold of someone from Conduent HR to return his computer and equipment they sent him. Litigation costs (recoveries), net represents provisions for various matters subject to litigation. Conduent will not request money or your banking or credit card information We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. 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. Cliff Skelton, Conduent President and CEO stated, In 2021, we met or exceeded our commitments. Connect with an expert. Conference Call About Conduent Ultimately, CXM is about the ability to demonstrate that you can deliver optimal value to customers and extract optimal value from those interactions. 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. CONDUENT INCORPORATED The income tax effects are calculated under the same accounting principles as applied to our reported pre-tax performance measures under ASC 740, which employs an annual effective tax rate method. Dollars. 4y. I' was born in Nuernberg . WIC authorized retailers using the Conduent's Stand-Beside Point of Sale (POS) equipment to process . These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. 3 0 obj These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. Management will present the results during a conference call and webcast on May3, 2022 at 5:00 p.m. 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. Contact Us Your Experienced Partner: More than 44,000 multi-skilled interaction specialists 200+ languages supported 1 billion customer communications handled by our contact centers annually 26 billion Adjusted Net Income (Loss), Adjusted Diluted Earnings per Share, Adjusted Weighted Average Common Shares Outstanding, and Adjusted Effective Tax Rate. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Step up communications with employees including reminders about immunizations, safe workplace practices, and other prevention education. 4. Purchase Order Terms and Conditions . (Gain) loss on divestitures and transaction costs. 1 0 obj Hourly pay at Conduent Inc. ranges from an average of $12.33 to $25.11 an hour. 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. 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 use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. 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. Other charges (credits). A recording of the conference call will be available by calling 1-877-660-6853 one hour after the conference call concludes. 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. (4) Refer to Appendix for definition of Non-GAAP Outlook. Our people are united in their passion to make a positive difference within their teams, communities, and society at large. Additional 2021 Performance Highlights Conduent will make reasonable accommodation for known physical and mental limitations of qualified applicants, employees and contractors, consistent with Federal and State laws, such as the Americans with Disabilities Act (ADA), and the Americans with Disabilities Act Amendment Act (ADAAA). 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.. Since the global outbreak began, Over 1,800 executive actions have been issued in total across the 50 U.S. states and territories. If you are unable to attend the Community Huddle in person but have ideas, issues, or . 6) Accelerate workforce transformation If requested, the conference ID for this call is 13728764. 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. <>>> 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. Amortization of acquired intangible assets. 3. level 2. Abandonment of Cloud Computing Project. 5. Conduent Inc. employees with the job title Customer Service Representative (CSR) make the most with an average. 1. We also internally use these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. 1. Children are the heart of the celebrations. %PDF-1.5 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. Whether its touching three out of every four health insured lives and delivering 45% of SNAP payments in the U.S., or enabling 1.3 billion customer service interactions and empowering 10 million employees through HR services worldwide, Conduent services and solutions interact with millions of people every day and move our clients operations forward. Conduent (CNDT) Q4 2022 Earnings Call Transcript. He got a better offer and no longer wants to work with Conduent. 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. 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. Full year 2021 Adjusted EBITDA of $487M and Adjusted EBITDA Margin of 11.8% benefited from government payment volumes. 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. %PDF-1.6 % 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. New business sales were strong, with Total Contract Value signed in the quarter increasing by more than 30 percent year-over-year, representing our highest-ever Q1 performance. Management will present the results during a conference call and webcast on February16, 2022 at 5:00 p.m. They provide the computer monitor/tower, headset, keyboard and mouse. 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. Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. 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. Tufts Universitys Research Group on Equity in Health, Wealth and Civic Engagement, July 2020 The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/. Scan this QR code to download the app now. Non-GAAP Financial Measures 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. but never sends them. We have provided an outlook for revenue on a constant currency basis due to the inability to accurately predict foreign currency impact on revenues. If you get hired as a CSR remote employee, will they provide equipment prior to the start date? In providing the outlook for Adjusted EBITDA we exclude certain items which are otherwise included in determining the comparable U.S. GAAP financial measure. ACCEPTANCE. 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. 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. A recording of the conference call will be available by calling 1-877-660-6853 one hour after the conference call concludes. The income tax effects are calculated under the same accounting principles as applied to our reported pre-tax performance measures under ASC 740, which employs an annual effective tax rate method. At Conduent, you are part of a team, making a difference in the lives of millions every day. 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. CONDUENT INCORPORATED Adjusted EBITDA represents income (loss) before interest, income taxes, depreciation and amortization and contract inducement amortization adjusted for the following items. 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. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED), CONDUENT INCORPORATED 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. This includes charges in connection with the abandonment of a cloud computing project. We continue to be strongly positioned as a partner of choice to provide thesecriticalservices andsolutions.. Conduent and Conduent Agile Star are trademarks of Conduent, Inc. and/or its subsidiaries in the United States and/or other countries. 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 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. These statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. %%EOF 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. 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. 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. Divestitures. Promote health and wellness benefits instructions at Seller's risk and expense or return such items to Seller at Seller's risk and expense. (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. 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. 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 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. Together, we make a difference in the lives of millions every day. 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. We tried calling him (37 times) and he won't answer his phone and his voicemail isnt set up. Adjusted EBITDA Margin is Adjusted EBITDA divided by revenue or adjusted revenue, as applicable. At the recent Customer Contact Week (CCW) conference in Nashville, we sat down with a team of CX experts - during the How to Enable the Human Side of Digital session. Restructuring and related costs include restructuring and asset impairment charges as well as costs associated with our strategic transformation program. 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. Our actual results may vary materially from those expressed or implied in our forward-looking statements. McKinsey Digital, Global Survey, May 2019, Legal, Compliance, and Analytics Solutions, Return to Work 2020: 6 Imperatives for HR Managers. Learn more now. 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.