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Divestitures | 9 Months Ended
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Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Divestitures | Divestitures The Company entered into various agreements to transfer or sell certain portfolios and businesses in 2024. Each of these transactions is described below. Divestiture of Casualty Claims Solutions Business On May 3, 2024, the Company entered into a definitive agreement to sell the Company’s Casualty Claims Solutions business (collectively referred to as the "Casualty Disposal Group") to MedRisk, Inc. ("MedRisk"). On September 1, 2024, the sale was completed and MedRisk paid Conduent $224 million of cash consideration, subject to certain post-closing adjustments. These adjustments were finalized in the first quarter of 2025 and were not material. The Company recorded a gain on the sale of $194 million, less costs to sell of $8 million, which was recorded in Gain (loss) on divestitures and transaction costs. Additionally, the Company recorded $33 million of income tax expense related to the divestiture. The Casualty Disposal Group generated revenue and income (loss) before income taxes as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  | $ | — |  |  | $ | 26 |  |  | $ | — |  |  | $ | 100 |
Income (loss) before income taxes |  | — |  |  | 3 |  |  | — |  |  | 6 |
Divestiture of Curbside Management and Public Safety Solutions Businesses In December 2023, the Company signed a definitive agreement to sell its Curbside Management and Public Safety Solutions businesses (collectively referred to as the "Curbside Disposal Group") to Modaxo, a division of Constellation Software Inc. ("Modaxo"), for $230 million (plus the assumption of certain indebtedness), subject to customary purchase price adjustments. On April 30, 2024, Conduent completed the sale of this business. The Company received $181 million of cash consideration and a $50 million non-interest bearing note payable to the Company that was due and paid on April 30, 2025. Additionally, the Company received reimbursement for payments made by the Company related to finance lease liabilities and related costs and reimbursement for the purchase of certain equipment made by the Company on the buyer's behalf. In 2024, the Company recorded a gain on the sale of $103 million less costs to sell of $5 million, which was recorded in Gain (loss) on divestitures and transaction costs. The Company recorded $28 million of income tax expense in connection with the divestiture. The Curbside Disposal Group generated revenue and income (loss) before income taxes as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 50 |
Income (loss) before income taxes |  | — |  |  | — |  |  | — |  |  | 6 |
Transfer of BenefitWallet Portfolio In September 2023, the Company entered into a Custodial Transfer and Asset Purchase Agreement to transfer its BenefitWallet health savings account and medical savings account portfolio (collectively, the "BenefitWallet Portfolio") to HealthEquity, Inc. for an aggregate purchase price of $425 million, subject to customary purchase price adjustments. The BenefitWallet transfer closed in multiple tranches from March to May 2024 and the Company received total aggregate cash consideration of $425 million as the tranches closed. The Company recorded a gain on the transfer of $425 million, less costs to sell of $11 million. Additionally, the Company recorded $102 million of income tax expense in connection with the transfer of the BenefitWallet Portfolio. There was no cash consideration or gain on the transfer of the BenefitWallet Portfolio recorded in the third quarter of 2024. The BenefitWallet Portfolio generated revenue and income (loss) before income taxes as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 30 |
Income (loss) before income taxes |  | — |  |  | — |  |  | — |  |  | 20 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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