DXC Technology Co 8-K, filed Jul 24, 2025
DXC Technology Co (DXC)
8-K
2025-07-24
For: 2025-07-24
View Original
Added on
April 07, 2026
About this 8-K
DXC Technology Co filed this 8-K on July 24, 2025.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________________________________________
FORM 8-K
_____________________________________________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 24, 2025
______________________________________________________________________________
(Exact name of registrant as specified in its charter)
______________________________________________________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of Principal Executive Offices and Zip Code) | ||||||||||||||
Registrant’s telephone number, including area code: (703 ) 972-7000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
_____________________________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
Effective April 1, 2025 (fiscal year 2026), DXC Technology ("DXC" or the "Company") began reporting its financial results under a new segment structure designed to better reflect the Company’s operational structure and the delivery of end-to-end IT services. The new structure includes three reportable segments that align with how management runs the business and allocates resources: Consulting & Engineering Services ("CES"), Global Infrastructure Services ("GIS"), and Insurance Services ("Insurance").
See Exhibit 99.1 for more details about the new segment reporting structure and certain unaudited historical consolidated financial information based on the new segment reporting structure.
This information provided under this Item 7.01, including Exhibit 99.1, is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if and to the extent such subsequent filing specifically references the information incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | ||||
| 99.1 | |||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DXC TECHNOLOGY COMPANY | |||||||||||
| Dated: | July 24, 2025 | By: | /s/ Rob Del Bene | ||||||||
| Name: | Rob Del Bene | ||||||||||
| Title: | Executive Vice President and Chief Financial Officer | ||||||||||
 | Exhibit 99.1 | ||||
Effective April 1, 2025 (fiscal year 2026), DXC Technology ("DXC" or the "Company") began reporting its financial results under a new segment structure designed to better reflect the Company’s operational structure and the delivery of end-to-end IT services. The new structure includes three reportable segments that align with how management runs the business and allocates resources: Consulting & Engineering Services ("CES"), Global Infrastructure Services ("GIS"), and Insurance Services ("Insurance"). Descriptions for each segment are provided below:
•Consulting & Engineering Services – Helps businesses use AI and data analytics to improve operations, automate tasks, and speed up their digital transformation. We provide software engineering, consulting, and custom and enterprise applications solutions that help companies manage essential functions, modernize processes, and drive innovation. We have strong expertise in industries like finance, automotive, manufacturing, healthcare, life sciences, travel, and the public sector. Our solutions help businesses stay competitive by improving efficiency, launching new products faster, expanding into new markets, and achieving their strategic goals.
•Global Infrastructure Services – Implements and operates the technology underpinning the critical systems of global businesses and governments. Clients trust us to secure, modernize, and operate their critical systems and improve workplace experience to support business growth. Services include the design, migration, and management of complex data center, mainframe, cloud, and network environments, with an emphasis on scalability, security, compliance, and cost efficiency. By leveraging a human-led, AI-driven Intelligent Operations approach, we deliver secure, reliable IT operations that clients trust. We also provide cross-industry business process services, which streamline clients’ core enterprise functions such as finance, HR, procurement, and customer service. The implementation of secure, reliable technology improves employee experiences and productivity by streamlining daily operations—such as device management, helpdesk support, and AI-powered automation—enabling seamless collaboration, reducing IT support demands, and lowering costs through intuitive, self-service tools.
•Insurance Services – Provides software and services for Life and Wealth, Property & Casualty and Reinsurance providers, helping them optimize, run and digitally transform their operations. We help insurers modernize their technology landscape from heritage systems to advanced AI-powered solutions that enhances operational efficiency, improves customer experiences, and enables insurers to adopt a digital-first approach. Complementing our software solutions, we provide comprehensive business process services, leveraging deep industry expertise to support the full spectrum of insurance operations.
We have prepared unaudited historical consolidated financial information based on the new reporting structure, which includes certain non-GAAP measures.
Unaudited Historical Financial Measures
Revenue:
| Fiscal year 2025 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | March 31, 2025 | |||||||||||||||||||||||||||||||||
| CES | $ | 1,281 | $ | 1,279 | $ | 1,267 | $ | 1,235 | $ | 5,062 | ||||||||||||||||||||||||||||
| GIS | 1,658 | 1,656 | 1,651 | 1,631 | 6,596 | |||||||||||||||||||||||||||||||||
| Insurance | 297 | 306 | 307 | 303 | 1,213 | |||||||||||||||||||||||||||||||||
| Total Revenue | $ | 3,236 | $ | 3,241 | $ | 3,225 | $ | 3,169 | $ | 12,871 | ||||||||||||||||||||||||||||
1
| Fiscal year 2024 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2023 | September 30, 2023 | December 31, 2023 | March 31, 2024 | March 31, 2024 | |||||||||||||||||||||||||||||||||
| CES | $ | 1,320 | $ | 1,322 | $ | 1,313 | $ | 1,319 | $ | 5,274 | ||||||||||||||||||||||||||||
| GIS | 1,844 | 1,824 | 1,798 | 1,764 | 7,230 | |||||||||||||||||||||||||||||||||
| Insurance | 282 | 290 | 288 | 303 | 1,163 | |||||||||||||||||||||||||||||||||
| Total Revenue | $ | 3,446 | $ | 3,436 | $ | 3,399 | $ | 3,386 | $ | 13,667 | ||||||||||||||||||||||||||||
Organic revenue year-over-year growth:
| Fiscal year 2025 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | March 31, 2025 | |||||||||||||||||||||||||||||||||
| CES | (0.9) | % | (3.4) | % | (2.2) | % | (4.0) | % | (2.6) | % | ||||||||||||||||||||||||||||
| GIS | (8.6) | % | (9.0) | % | (7.2) | % | (5.2) | % | (7.5) | % | ||||||||||||||||||||||||||||
| Insurance | 6.2 | % | 5.3 | % | 6.4 | % | 1.1 | % | 4.7 | % | ||||||||||||||||||||||||||||
| Total organic revenue growth | (4.4) | % | (5.6) | % | (4.2) | % | (4.2) | % | (4.6) | % | ||||||||||||||||||||||||||||
| Fiscal year 2024 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2023 | September 30, 2023 | December 31, 2023 | March 31, 2024 | March 31, 2024 | |||||||||||||||||||||||||||||||||
| CES | 2.9 | % | 1.6 | % | (0.4) | % | (0.8) | % | 0.8 | % | ||||||||||||||||||||||||||||
| GIS | (9.6) | % | (8.9) | % | (8.7) | % | (9.1) | % | (9.1) | % | ||||||||||||||||||||||||||||
| Insurance | 9.8 | % | 8.9 | % | 5.1 | % | 4.2 | % | 6.9 | % | ||||||||||||||||||||||||||||
| Total organic revenue growth | (3.6) | % | (3.6) | % | (4.5) | % | (4.9) | % | (4.1) | % | ||||||||||||||||||||||||||||
Segment Profit:
| Fiscal year 2025 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | March 31, 2025 | |||||||||||||||||||||||||||||||||
| CES | $ | 123 | $ | 175 | $ | 164 | $ | 118 | $ | 580 | ||||||||||||||||||||||||||||
| GIS | 101 | 120 | 112 | 98 | 431 | |||||||||||||||||||||||||||||||||
| Insurance | 44 | 37 | 50 | 31 | 162 | |||||||||||||||||||||||||||||||||
| Total profit for reportable segments | $ | 268 | $ | 332 | $ | 326 | $ | 247 | $ | 1,173 | ||||||||||||||||||||||||||||
| Fiscal year 2024 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2023 | September 30, 2023 | December 31, 2023 | March 31, 2024 | March 31, 2024 | |||||||||||||||||||||||||||||||||
| CES | $ | 120 | $ | 139 | $ | 151 | $ | 156 | $ | 566 | ||||||||||||||||||||||||||||
| GIS | 82 | 107 | 120 | 120 | 429 | |||||||||||||||||||||||||||||||||
| Insurance | 36 | 37 | 36 | 46 | 155 | |||||||||||||||||||||||||||||||||
| Total profit for reportable segments | $ | 238 | $ | 283 | $ | 307 | $ | 322 | $ | 1,150 | ||||||||||||||||||||||||||||
2
Reconciliation of Segment Profit to Net Income
We define segment profit as segment revenues less costs of services, segment selling, general and administrative, depreciation and amortization, and other segment items. The Company allocates certain costs such as real estate costs, information technology costs and costs for certain other shared corporate functions to it segments using a proportional share of either revenue or headcount for each segment.
Segment profit excludes various non-GAAP adjustments, including:
•Restructuring costs – includes costs, net of reversals, related to workforce and real estate optimization and other similar charges.
•Transaction, separation and integration-related (“TSI”) costs – includes third party costs related to integration, separation, planning, financing and advisory fees and other similar charges associated with mergers, acquisitions, strategic investments, joint ventures, and dispositions and other similar transactions incurred within one year of such transactions closing, except for costs associated with related disputes, which may arise more than one year after closing.
•Amortization of acquired intangible assets – includes amortization of intangible assets acquired through business combinations.
•Merger-related indemnification – in fiscal 2025 and fiscal 2024, represents the Company’s estimate of potential net liability to HPE for tax related indemnifications.
•Gains and losses on dispositions – gains and losses related to dispositions of businesses, strategic assets and interests in less than wholly-owned entities.
•Gains and losses on real estate and facility sales – gains and losses related to dispositions of real property.
•Impairment losses – non-cash charges associated with the permanent reduction in the value of the Company’s assets (e.g., impairment of goodwill and other long-term assets including fixed assets and impairments to deferred tax assets for discrete changes in valuation allowances). Future discrete reversals of valuation allowances are likewise excluded.
•Pension and OPEB actuarial and settlement gains and losses – pension and OPEB actuarial mark to market adjustments and settlement gains and losses.
Certain corporate costs and other expenses managed centrally are not allocated to individual segments. As part of the transition to the new segment structure, the Company updated the assumptions that define which expenses remain in corporate post allocation. The tables below reflect those revised assumptions.
| Fiscal year 2025 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | March 31, 2025 | |||||||||||||||||||||||||||||||||
| Total profit for reportable segments | $ | 268 | $ | 332 | $ | 326 | $ | 247 | $ | 1,173 | ||||||||||||||||||||||||||||
| Corporate expenses | (44) | (53) | (40) | (17) | (154) | |||||||||||||||||||||||||||||||||
| Adjusted EBIT | $ | 224 | $ | 279 | $ | 286 | $ | 230 | $ | 1,019 | ||||||||||||||||||||||||||||
| Restructuring costs | (39) | (42) | (43) | (29) | (153) | |||||||||||||||||||||||||||||||||
| Transaction, separation and integration-related costs | (7) | (15) | (3) | — | (25) | |||||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (87) | (89) | (87) | (85) | (348) | |||||||||||||||||||||||||||||||||
| Merger related indemnification | — | — | — | (2) | (2) | |||||||||||||||||||||||||||||||||
| Gains on dispositions | — | 5 | 8 | — | 13 | |||||||||||||||||||||||||||||||||
| (Losses) gains on real estate and facility sales | (2) | (27) | (3) | 9 | (23) | |||||||||||||||||||||||||||||||||
| Impairment losses | — | — | (12) | (5) | (17) | |||||||||||||||||||||||||||||||||
| Pension and OPEB actuarial and settlement gains (losses) | — | — | — | 232 | 232 | |||||||||||||||||||||||||||||||||
| EBIT | $ | 89 | $ | 111 | $ | 146 | $ | 350 | $ | 696 | ||||||||||||||||||||||||||||
| Interest income | 51 | 51 | 51 | 46 | 199 | |||||||||||||||||||||||||||||||||
| Interest expense | (72) | (69) | (66) | (58) | (265) | |||||||||||||||||||||||||||||||||
| Income before income tax | $ | 68 | $ | 93 | $ | 131 | $ | 338 | $ | 630 | ||||||||||||||||||||||||||||
| Income tax expense | 43 | 48 | 68 | 75 | 234 | |||||||||||||||||||||||||||||||||
| Net income | $ | 25 | $ | 45 | $ | 63 | $ | 263 | $ | 396 | ||||||||||||||||||||||||||||
3
| Fiscal year 2024 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||
| (in millions) | June 30, 2023 | September 30, 2023 | December 31, 2023 | March 31, 2024 | March 31, 2024 | |||||||||||||||||||||||||||||||||
| Total profit for reportable segments | $ | 238 | $ | 283 | $ | 307 | $ | 322 | $ | 1,150 | ||||||||||||||||||||||||||||
| Corporate expenses | (20) | (32) | (51) | (38) | (141) | |||||||||||||||||||||||||||||||||
| Adjusted EBIT | $ | 218 | $ | 251 | $ | 256 | $ | 284 | $ | 1,009 | ||||||||||||||||||||||||||||
| Restructuring costs | (20) | (35) | (36) | (20) | (111) | |||||||||||||||||||||||||||||||||
| Transaction, separation and integration-related costs | (1) | (3) | (2) | (1) | (7) | |||||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (89) | (89) | (88) | (88) | (354) | |||||||||||||||||||||||||||||||||
| Merger related indemnification | (11) | (2) | (2) | (1) | (16) | |||||||||||||||||||||||||||||||||
| Gains (losses) on dispositions | (5) | 33 | 104 | (17) | 115 | |||||||||||||||||||||||||||||||||
| (Losses) gains on real estate and facility sales | 6 | — | 2 | (1) | 7 | |||||||||||||||||||||||||||||||||
| Impairment losses | (3) | (2) | — | — | (5) | |||||||||||||||||||||||||||||||||
| Pension and OPEB actuarial and settlement gains (losses) | — | — | — | (445) | (445) | |||||||||||||||||||||||||||||||||
| EBIT | $ | 95 | $ | 153 | $ | 234 | $ | (289) | $ | 193 | ||||||||||||||||||||||||||||
| Interest income | 49 | 53 | 56 | 56 | 214 | |||||||||||||||||||||||||||||||||
| Interest expense | (66) | (78) | (78) | (76) | (298) | |||||||||||||||||||||||||||||||||
| Income before income tax | $ | 78 | $ | 128 | $ | 212 | $ | (309) | $ | 109 | ||||||||||||||||||||||||||||
| Income tax expense | 36 | 29 | 72 | (114) | 23 | |||||||||||||||||||||||||||||||||
| Net income | $ | 42 | $ | 99 | $ | 140 | $ | (195) | $ | 86 | ||||||||||||||||||||||||||||
Reconciliation of revenue growth to organic revenue growth:
| Fiscal year 2025 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||
| June 30, 2024 | September 30, 2024 | December 31, 2024 | March 31, 2025 | March 31, 2025 | ||||||||||||||||||||||||||||
| Total DXC revenue growth | (6.1) | % | (5.7) | % | (5.1) | % | (6.4) | % | (5.8) | % | ||||||||||||||||||||||
| Foreign currency | 1.4 | % | — | % | 0.7 | % | 2.1 | % | 1.0 | % | ||||||||||||||||||||||
| Acquisitions and divestitures | 0.3 | % | 0.1 | % | 0.2 | % | 0.1 | % | 0.2 | % | ||||||||||||||||||||||
| Total DXC organic revenue growth | (4.4) | % | (5.6) | % | (4.2) | % | (4.2) | % | (4.6) | % | ||||||||||||||||||||||
| CES revenue growth | (3.0) | % | (3.3) | % | (3.5) | % | (6.4) | % | (4.0) | % | ||||||||||||||||||||||
| Foreign currency | 1.7 | % | (0.1) | % | 0.9 | % | 2.1 | % | 1.1 | % | ||||||||||||||||||||||
| Acquisitions and divestitures | 0.4 | % | — | % | 0.4 | % | 0.3 | % | 0.3 | % | ||||||||||||||||||||||
| CES organic revenue growth | (0.9) | % | (3.4) | % | (2.2) | % | (4.0) | % | (2.6) | % | ||||||||||||||||||||||
| GIS revenue growth | (10.1) | % | (9.2) | % | (8.2) | % | (7.5) | % | (8.8) | % | ||||||||||||||||||||||
| Foreign currency | 1.3 | % | 0.1 | % | 0.8 | % | 2.2 | % | 1.1 | % | ||||||||||||||||||||||
| Acquisitions and divestitures | 0.2 | % | 0.1 | % | 0.2 | % | 0.1 | % | 0.2 | % | ||||||||||||||||||||||
| GIS organic revenue growth | (8.6) | % | (9.0) | % | (7.2) | % | (5.2) | % | (7.5) | % | ||||||||||||||||||||||
| Insurance revenue growth | 5.3 | % | 5.5 | % | 6.6 | % | — | % | 4.3 | % | ||||||||||||||||||||||
| Foreign currency | 0.9 | % | (0.2) | % | (0.2) | % | 1.1 | % | 0.4 | % | ||||||||||||||||||||||
| Acquisitions and divestitures | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||
| Insurance organic revenue growth | 6.2 | % | 5.3 | % | 6.4 | % | 1.1 | % | 4.7 | % | ||||||||||||||||||||||
4
| Fiscal year 2024 | Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||
| June 30, 2023 | September 30, 2023 | December 31, 2023 | March 31, 2024 | March 31, 2024 | ||||||||||||||||||||||||||||
| Total DXC revenue growth | (7.0) | % | (3.6) | % | (4.7) | % | (5.7) | % | (5.3) | % | ||||||||||||||||||||||
| Foreign currency | 0.7 | % | (2.0) | % | (1.7) | % | 0.2 | % | (0.7) | % | ||||||||||||||||||||||
| Acquisitions and divestitures | 2.7 | % | 2.0 | % | 1.9 | % | 0.6 | % | 1.9 | % | ||||||||||||||||||||||
| Total DXC organic revenue growth | (3.6) | % | (3.6) | % | (4.5) | % | (4.9) | % | (4.1) | % | ||||||||||||||||||||||
| CES revenue growth | (5.0) | % | (2.1) | % | (4.0) | % | (3.0) | % | (3.5) | % | ||||||||||||||||||||||
| Foreign currency | 0.7 | % | (1.6) | % | (1.5) | % | 0.5 | % | (0.5) | % | ||||||||||||||||||||||
| Acquisitions and divestitures | 7.2 | % | 5.3 | % | 5.1 | % | 1.7 | % | 4.8 | % | ||||||||||||||||||||||
| CES organic revenue growth | 2.9 | % | 1.6 | % | (0.4) | % | (0.8) | % | 0.8 | % | ||||||||||||||||||||||
| GIS revenue growth | (10.4) | % | (6.6) | % | (6.7) | % | (9.1) | % | (8.2) | % | ||||||||||||||||||||||
| Foreign currency | 0.7 | % | (2.3) | % | (2.0) | % | (0.1) | % | (0.9) | % | ||||||||||||||||||||||
| Acquisitions and divestitures | 0.1 | % | — | % | — | % | 0.1 | % | — | % | ||||||||||||||||||||||
| GIS organic revenue growth | (9.6) | % | (8.9) | % | (8.7) | % | (9.1) | % | (9.1) | % | ||||||||||||||||||||||
| Insurance revenue growth | 8.8 | % | 9.9 | % | 6.0 | % | 4.3 | % | 7.2 | % | ||||||||||||||||||||||
| Foreign currency | 1.0 | % | (1.0) | % | (0.9) | % | (0.1) | % | (0.3) | % | ||||||||||||||||||||||
| Acquisitions and divestitures | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||
| Insurance organic revenue growth | 9.8 | % | 8.9 | % | 5.1 | % | 4.2 | % | 6.9 | % | ||||||||||||||||||||||
5