What changed in this filing

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Item 1. Business

2025-05-15 compared with 2024-05-17 · 49 added, 82 removed, 152 unchanged (46% of the section changed)

DXC, a Nevada corporation, is a global IT services market leader.

We provide mission-critical IT services that transform global businesses.

We deliver excellence for our customers and colleagues around the world.

Our approximately 130,000 people in about 65 countries are entrusted by our customers, who represent close to half of today’s Fortune 500 companies.

We operate through two segments:

Global Business Services ("GBS") and Global Infrastructure Services ("GIS"), to provide solutions that modernize operations and drive innovation across our customers' entire IT estate.

DXC Technology is a leading global provider of information technology ("IT") services.

We are a trusted partner to many of the world’s most innovative organizations, building solutions that move industries and companies forward.

Our engineering, consulting, and technology experts help clients simplify, optimize, and modernize their systems and processes, manage their most critical workloads, integrate AI-powered intelligence into their operations, and put security and trust at the forefront.

Through innovative solutions, we help clients to achieve competitive advantages in the marketplace.

We serve a global client base, including many Fortune 500 companies, through our more than 120,000 employees in over 60 countries.

We operate through two segments - Global Business Services ("GBS") and Global Infrastructure Services ("GIS") - delivering solutions that modernize operations and drive innovation across our customers' entire IT estate.

DXC was formed on April 1, 2017 by the merger of CSC and HPES (the "HPES Merger").

Segments and Services

Our reportable segments are GBS and GIS.

Global Business Services

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GBS offerings include:

• Analytics and Engineering.

Our portfolio of analytics services and extensive partner ecosystem help customers gain rapid insights, automate operations, and accelerate their transformation journeys.

We provide software engineering, consulting, and data analytics solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

• Applications.

We help simplify, modernize and accelerate mission-critical applications that support business agility and growth through our Applications services.

We are the engineers that enable our customers to take advantage of the latest digital platforms with both customized and pre-packaged applications, ensure resiliency, launch new products and enter new markets with minimal disruption.

We help customers define, execute and manage their enterprise applications strategy.

• Consulting & Engineering Services (“CES”).

Helps businesses use artificial intelligence ("AI") and data analytics to improve operations, automate tasks, and speed up their digital transformation.

We provide software engineering, consulting, as well as 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.

• Insurance Software and Business Process Services.

We partner with insurance clients, to modernize and run IT systems, provide proprietary modular insurance software and platforms, and operate the full spectrum of insurance business process services.

DXC is a leader in 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.

Beyond our software solutions, we provide comprehensive business process services, leveraging deep industry expertise to support the full spectrum of insurance operations.

We also help operate and continuously improve bank cards, payment and lending processes and operations, and customer experience operations.

Global Infrastructure Services

GIS provides a portfolio of technology offerings that deliver predictable outcomes and measurable results while reducing business risk and operational costs for customers.

GIS implements and operates the technology underpinning the critical systems of global businesses and governments.

Our clients trust us to help secure, modernize and operate their critical systems and improve their workplace experience to support business growth.

GIS offerings include:

Our Security services help customers assess risk and proactively address all facets of the security environment, from threat intelligence to compliance.

We leverage proven methodologies, intelligent automation and industry-leading partners to tailor security solutions to customers’ unique business needs.

Our experts weave cyber resilience into IT security, operations and culture.

Whether migrating to the cloud, protecting data with a Zero Trust strategy or managing a security operations center, our Security services enable our customers to focus on their business.

• Cloud Infrastructure and IT Outsourcing (“ITO”) .

We enable customers to do Cloud Right™, making the right investments at the right time and on the right platforms.

We orchestrate hybrid cloud and multicloud environments, ensuring private and public clouds, servers and mainframes operate effectively together.

We provide companies with tailored plans for cloud migration and optimization to enable successful transformation.

We leverage our deep expertise in legacy IT and drive innovation with reliable, secure, mission-critical IT Outsourcing services – from compute and data center, to storage and backup, to network, to mainframe and to business continuity – providing a clear path to modernization.

• Cloud ITO & Security .

We design, implement, run and optimize the essential IT infrastructure that underpins our clients’ hybrid IT environments, spanning data centers, public cloud, mainframes, and networks.

Our comprehensive set of services encompass strategic planning, migration, and the management of complex data center and cloud ecosystems.

By integrating security, compliance, scalability, and cost efficiency, we empower clients to drive innovation while maintaining operational resilience.

Leveraging a human-led, AI-driven Intelligent Operations approach, we deliver secure, reliable IT operations that clients trust.

Our security practice safeguards businesses against cyber threats across all environments with a secure-by-design approach.

Backed by 3,500 security professionals and eight global Security Operations Centers, we are one of the largest security providers to deliver 24/7 protection at scale.

Our expertise in regulatory compliance and strong ties with global government agencies make us a trusted partner for organizations with the most demanding security requirements.

• Modern Workplace.

Our Modern Workplace services put the employee experience first, helping them achieve new levels of productivity, engagement and collaboration while working seamlessly and securely on any device.

Organizations are empowered to deliver a consumer-like experience, centralize IT management and support services, and improve the total cost of ownership.

We provide clients and their employees with secure, reliable technology that enhances productivity and streamlines daily operations, including device management, helpdesk support, and more.

We reduce the burden on internal IT teams and enhance employee experience by transforming how people connect, create, and collaborate.

We deliver AI-powered, secure workplaces where employees work seamlessly on their preferred devices, resolving most issues through intuitive, automated self-service—boosting productivity, engagement, and efficiency, while reducing support costs and complexity.

See Note 19 - "Segment and Geographic Information" for additional information related to our reportable segments, including the disclosure of segment revenues, segment profit, and financial information by geographic area.

Important Divestitures

During the past three fiscal years, we completed certain divestitures, including:

• During fiscal 2023, DXC completed the sale of its German financial services subsidiary to the FNZ Group.

• During fiscal 2022, DXC completed the sale of its healthcare provider software business to Dedalus Holding S.p.A.

• In addition, during the past three fiscal years, DXC completed the sale of certain insignificant businesses.

See Note 2 - "Divestitures" for further information on divestitures.

During the past three fiscal years, we completed the sale of various insignificant businesses.

In addition, during fiscal 2023, we completed the sale of our German financial services subsidiary to the FNZ Group.

See Note 2 - "Divestitures" for further information.

Sales and Marketing

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No individual customer exceeded 10% of our consolidated revenues for fiscal 2025, fiscal 2024, or fiscal 2023.

General economic conditions have an impact on our business and financial results.

The markets in which we sell our solutions, services and products occasionally experience weak economic conditions that may negatively affect sales.

We also experience some seasonal trends in the sale of our services.

For example, contract awards and certain revenue are often tied to the timing of our customers' fiscal year-ends, and we also experience seasonality related to our own fiscal year-end selling activities.

The IT and professional services markets we compete in are highly competitive and are not dominated by a single company or a small number of companies.

A substantial number of companies offer services that overlap our offerings and are competitive with our services.

In addition, the increased importance of offshore labor centers has brought several foreign-based competitors into our markets.

Our business results may vary from period to period with overall demand for our services impacted by factors such as customer budget cycles, industry-specific trends, and year-end project activity.

While these seasonal variations do not materially affect our long-term performance, they may contribute to periodic fluctuations in revenue, expenses, and profitability.

We continue to monitor these trends and adjust our operations as needed to optimize performance throughout the year.

The IT and professional services markets we compete in are highly competitive,with a substantial number of companies having onshore and offshore delivery capabilities offering services that overlap with our offerings.

Our competitors include:

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• financial stability and strong corporate governance.

Our ability to obtain new business and retain existing business is dependent upon the following:

• technology, industry and systems know-how with an independent perspective on best solutions across software, hardware, and service providers;

• ability to offer improved strategic frameworks and technical solutions;

• investments in our services and solutions;

• focus on responsiveness to proactively address customer needs, provide quality services and competitive prices;

• successful management of our relationships with leading strategic and solution partners in hardware, networking, cloud, applications and software;

• project management experience and capabilities, including delivery;

• end-to-end spectrum of IT and professional services we provide;

• financial stability and strong corporate governance.

Intellectual Property

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Our Board provides oversight of our ESG program, enabling us to have the governance, long-term strategy and processes to manage ESG outcomes and meet the needs of our stakeholders.

The Nominating/Corporate Governance Committee of our Board has specific oversight of ESG.

Our ESG leadership team updates the committee quarterly on ESG status and provides an update to the full Board annually.

The Nominating/Corporate Governance Committee of our Board has specific oversight of ESG and receives quarterly updates from our ESG leadership team.

Our ESG strategy reflects our ongoing commitment to being a responsible corporate citizen.

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Additionally, we emphasize the critical role of managers in supporting and guiding our people toward success.

Inclusion & Diversity

We are committed to an inclusive and diverse workforce and seek to promote inclusion and diversity in legally compliant manners, including maintenance of policies regarding non-discrimination, anti-harassment, and equal employment opportunity.

We are committed to the protection and advancement of human rights and to enabling our operations in communities around the world to function with integrity.

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Available Information

We use our corporate website, www.dxc.technology , as a routine channel for distributing important information, including detailed company information, financial news, SEC filings, Annual Reports, historical stock information and links to a recent earnings call webcast.

We use our corporate website, www.dxc.com , as a routine channel for distributing important information, including detailed company information, financial news, SEC filings, Annual Reports, historical stock information and links to a recent earnings call webcast.

DXC’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, all amendments to those reports, and the Proxy Statements for our Annual Meetings of Stockholders are made available, free of charge, on our corporate website as soon as reasonably practicable after such reports have been filed with or furnished to the SEC.

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Howard Boville

General Manager, Applications Services and Artificial Intelligence None

Brady 57 2023 Indefinite Executive Vice President and Chief Operating Officer None

Executive Vice President, Consulting & Engineering Services

Christopher R.

Drumgoole 49 2021 Indefinite General Manager, Cloud Infrastructure & ITO

Drumgoole 50 2021 Indefinite Executive Vice President, Global Infrastructure Services

Fawcett 57 2024 Indefinite Executive Vice President and General Counsel None

Finch 55 2019 Indefinite Executive Vice President, Chief Human Resources Officer and Global Lead, Marketing & Communication

Jennifer Ragone

Indefinite Executive Vice President and Chief People Officer

Christopher A.

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Principal Accounting Officer None

Andrew Wilson 58 2023 Indefinite General Manager, Modern Workplace None

Business Experience of Executive Officers

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Fernandez brings more than three decades of executive experience scaling innovative and rapidly growing technology companies.

Fernandez was the founder of Proxicom, which under his leadership evolved into a prominent early global provider of e-commerce solutions for Fortune 500 companies, Mr.

Fernandez was the founder of Proxicom, which under his leadership evolved into a prominent early global provider of e-commerce solutions for Fortune 500 companies.

Fernandez guided the growth of Proxicom from its launch in 1991 to public listing in 1999.

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in July 2017.

Fernandez currently serves on the board of directors of NeuroSync, a neuro health technology company that utilizes artificial intelligence to develop eye-tracking software and analytic technologies to diagnose and treat neurological impairments and brain health conditions, RemoteRetail, a technology and services company that offers enterprise customers a cloudbased marketplace for their hybrid workforces, and URBANEER, an urban innovation company designing and engineering next generation living spaces.

He is also on the Strategic Advisory Board of Volition Capital, a Boston-based growth equity firm, and is a Special Advisor to Carrick Capital Partners, a growth-oriented investment firm.

Fernandez has had an extensive and successful career as an active investor, executive, board member and advisor at numerous disruptive technology companies.

Rob Del Bene serves as the Executive Vice President and Chief Financial Officer of DXC since June 2023.

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and Vice President and Treasurer, along with other senior roles.

Howard Boville serves as General Manager for Applications Services and Artificial Intelligence since September 2023.

Howard Boville serves as Executive Vice President, Consulting & Engineering Services (formerly titled General Manager for Applications Services and Artificial Intelligence) since September 2023.

Before joining DXC, he served as Senior Vice President and Head of IBM Cloud Platform & Technology Lifecycle Services from April 2020 to September 2023.

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Boville served as Chief Technology Officer at Bank of America from August 2012 to April 2020.

He joined Bank of America in August 2012 from British Telecom, where he served in its Global Services Division.

He joined Bank of America from British Telecom, where he served in its Global Services Division.

Boville currently serves on the board of Entrust, a global leader in trusted identities, payments and data protection.

Brady serves as Executive Vice President and Chief Operating Officer of DXC since April 2023.

He previously served as Executive Vice President of Global Delivery from April 2022 to April 2023 and as President of the Americas Region from June 2020 to April 2022.

Before joining DXC, he served as Chief Operating Officer of Accumen Inc., a tech-enabled healthcare performance company, from July 2012 until June 2020.

Before joining Accumen Inc., Mr.

Brady served in a variety of leadership positions at Accenture from June 2006 until July 2012.

Prior to that, Mr.

Brady served 20 years at Honeywell in a variety of leadership roles, most recently as vice president of Integrated Supply Chain for the aerospace engines business.

Christopher R.

Drumgoole serves as General Manager, Cloud Infrastructure and ITO since April 2023.

Drumgoole serves as Executive Vice President, Global Infrastructure Services (formerly titled General Manager, Cloud Infrastructure and ITO) since April 2023.

He previously served as Executive Vice President and Chief Operating Officer of DXC from August 2021 to April 2023 and as Executive Vice President and Chief Information Officer of DXC from April 2020 to August 2021.

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Fawcett was Senior Vice President and General Counsel for JDS Uniphase from 1999 until August 2010.

Finch serves as Executive Vice President, Chief Human Resources Officer and Global Lead, Marketing of DXC since April 2023.

She previously served as Executive Vice President and Chief Human Resources Officer of DXC from October 2019 to April 2023.

Before joining DXC, Ms.

Finch served as Executive Vice President and Chief Human Resources Officer of AECOM from September 2015 to October 2019.

Prior to that, she served at Accenture as Senior Managing Director from September 2013 to August 2015 and as Managing Director Human Resources from January 2001 to September 2013, where she held various roles across the company including COO of Human Resources where she drove global delivery of HR services, overseeing operations supporting approximately 320,000 employees across 56 countries and multiple Accenture businesses.

Finch also served as VP Human Resources of Abilizer Solutions Inc.

from 2000 to 2001.

Jennifer Ragone serves as Executive Vice President and Chief People Officer of DXC since February 2025.

With more than 30 years at DXC, she has held leadership positions across multiple HR disciplines.

Most recently, she served as Vice President, Global Head of Business HR from February 2023 to February 2025.

Prior to that, she served as Vice President, Global Head of Talent from November 2021 to February 2023, as Vice President, Global Head of Talent Acquisition and Human Capital Consulting from August 2020 to November 2021, and as Vice President, Human Capital Consulting, Digital Labor Growth and Optimization from April 2017 to August 2020.

Christopher A.

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Voci served as Senior Manager, Audit and Risk Advisory Services at KPMG LLP from 2002 to 2004 and in various roles at Arthur Andersen LLP from 1994 to 2002.

Andrew Wilson serves as General Manager for Modern Workplace since October 2023.

Before joining DXC, he served as Chief Digital Officer and Corporate Vice President of Microsoft from January 2020 to December 2022.

Prior to that, he served in a variety of leadership positions at Accenture during his 27-year tenure with the company, including as Chief Information Officer from September 2013 to December 2019.

Wilson also served as Chief Executive Officer of GE Capital IT Solutions.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business