What changed in this filing

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Item 1. Business

2026-05-08 compared with 2025-05-15 · 61 added, 74 removed, 127 unchanged (52% of the section changed)

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").

DXC Technology is a leading enterprise technology and innovation partner delivering software, services, and solutions to global enterprises and public sector organizations - helping them harness AI to drive outcomes at a time of exponential change with speed.

With deep expertise in Managed Infrastructure Services, Application Modernization, and Industry-Specific Software Solutions, DXC modernizes, secures, and operates some of the world’s most complex technology estates.

DXC serves a global client base, including many Fortune 500 companies, supported by approximately 115,000 employees in 60 countries.

We operate through three reportable segments that align with how management assesses performance of the business and allocates resources - Consulting & Engineering Services ("CES"), Global Infrastructure Services ("GIS"), and Insurance Software & Services ("Insurance") - delivering solutions that modernize operations and drive innovation across our customers' entire IT estate.

Across these segments, we embed AI, automation and data-driven capabilities into our services and solutions to improve efficiency, enhance operations and support better business outcomes for clients.

Our approach is anchored in our proprietary Xponential framework, which integrates governance, automation and human expertise to help clients transition from pilot use cases to scaled, production-level deployment in a responsible and controlled manner.

In addition, we have established a Core Track and Fast Track approach to guide the evolution of our portfolio.

Core Track enhances our existing offerings through AI and automation to improve efficiency, strengthen competitiveness and bring our portfolio to its full potential.

Fast Track develops AI-native and highly AI-infused solutions to address evolving client needs and expand opportunities across our segments.

Segments and Services

Global Business Services

GBS provides innovative technology solutions that help our customers address key business challenges and accelerate transformations tailored to each customer’s industry and specific objectives.

GBS offerings include:

• 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.

• 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.

• Insurance Software and 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 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:

• 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.

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.

• 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 Software & 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 enhance operational efficiency, improve customer experiences, and enable 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.

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.

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

Important 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

We market and sell our services to customers through our direct sales force, which operates out of various locations around the world.

Our customers include commercial businesses of many sizes and across many industries, as well as public sector enterprises.

We market and sell our services to customers through a global direct sales force, operating across multiple locations around the world.

Our customers include commercial businesses of various sizes and industries, as well as public sector enterprises.

No individual customer exceeded 10% of our consolidated revenues for fiscal 2026, fiscal 2025, or fiscal 2024.

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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.

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

Our competitors include:

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• in-house functions of corporations that use their own resources rather than engaging an outside IT services provider.

The principal methods of competition in the markets for our solutions and services include:

Competition in our markets includes:

• vision and strategic advisory ability;

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We rely on a combination of trade secrets, patents, copyrights, and trademarks, as well as contractual protections to protect our business interests.

While our technical services and products are not generally dependent upon patent protection, we do selectively seek patent protection for certain inventions likely to be incorporated into products and services or where obtaining such proprietary rights will improve our competitive position.

While our services, solutions and products are not generally dependent upon patent protection, we may selectively seek patent protection for certain inventions based on business and strategic considerations.

As our patent portfolio has been built over time, the remaining terms of the individual patents across the patent portfolio vary.

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Additionally, we own or have rights to various trademarks, service marks, and trade names that are used in the operation of our business.

We also own or have the rights to copyrights that protect the content of our products and other proprietary materials.

We also own or have the rights to copyrights in original works of authorship embodied in our products, services, software, documentation, and other proprietary materials.

In addition to developing our intellectual property portfolio, we license intellectual property rights from third parties as we deem appropriate.

We have also granted and plan to continue to grant licenses to others under our intellectual property rights when we consider these arrangements to be in our interest.

We may also grant and have granted licenses under our intellectual property rights to others when such arrangements align with our business interests.

Environmental, Social and Governance (ESG)

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We strive to reduce our impact on the environment and improve resource efficiency in the areas of energy consumption, data center management and travel and transportation.

Our conservation efforts are supported in part by our shift to a virtual-first operating model, which enables our workforce to be largely remote and helps us reduce our overall direct energy consumption, which in turn helps to reduce our greenhouse gas emissions.

While the virtual-first model mainly helps reduce the size of our office footprint, we are also pursuing efficiency programs for data centers and data center rationalization programs to reduce energy consumption.

DXC‑operated data centers remain our largest source of global energy consumption and greenhouse gas emissions.

In the near term, we are transitioning to more efficient third‑party solutions and plan to exit most of our data centers.

Our hybrid work model also supports sustainability by giving colleagues the flexibility to adjust their work arrangements, helping to reduce commuting and business travel while supporting a healthier work–life balance.

As we move forward, we expect to further optimize our facility footprint and continue lowering our carbon emissions.

DXC also partners with customers to help them achieve their own climate-related goals.

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Human Capital Management

As a leading global information technology services company, we attract highly skilled and educated people from around the world.

We are an enterprise technology and innovation partner, and we attract highly skilled and educated people from around the world.

At DXC, we value our people and the opportunity to engage with them - we are at our best when our people feel valued and respected.

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

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.

We are committed to protecting and advancing human rights and ensuring that our operations around the world are conducted with integrity.

DXC is firmly committed to seeking to prevent modern slavery and the exploitation of vulnerable groups.

Our main human rights–related focus areas are adopting policies and practices aimed at preventing human rights abuses through our large and diverse global supply chain and supporting a diverse and inclusive corporate culture.

DXC’s Responsible Supply Chain Principles outline the human rights and environmental stewardship we expect from our suppliers.

A core focus of our human rights efforts is the implementation of policies and practices designed to prevent abuses across our large and diverse global supply chain.

To strengthen this commitment, we actively monitor our supply chain for risks and potential occurrences of modern slavery, working to identify, assess and address issues proactively.

We also maintain a workplace culture grounded in respect, dignity and equal opportunity for all individuals.

DXC’s Responsible Supply Chain Principles clearly define the human rights expectations and environmental stewardship standards we require from our suppliers, reinforcing accountability throughout our value chain.

Available Information

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Indefinite Executive Vice President and Chief Financial Officer None

Howard Boville

Executive Vice President, Consulting & Engineering Services

President, Insurance Software & Services

Christopher R.

Drumgoole 50 2021 Indefinite Executive Vice President, Global Infrastructure Services

Drumgoole 51 2021 Indefinite President, Global Infrastructure Services

Fawcett 58 2024 Indefinite Executive Vice President and General Counsel None

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Indefinite Executive Vice President and Chief People Officer

Ramanathan Venkataraman 55 2025

President, Consulting & Engineering Services None

Christopher A.

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

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.

Prior to his role at IBM, Mr.

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

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.

August serves as President, Insurance Software & Services of DXC since March 2022.

August has more than 30 years of experience in the insurance and technology industries.

Prior to joining DXC, he was a Founding Partner of August Ventures from January 2021 to March 2022, and served as President and Chief Executive Officer of Benefitfocus.com, Inc.

from August 2014 to February 2022.

Earlier in his career, Mr.

August held a number of senior leadership positions at Computer Sciences Corporation, a predecessor company of DXC, including President of the Financial Services Group.

Christopher R.

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.

Drumgoole serves as President, Global Infrastructure Services since April 2023.

Prior to that, he held senior leadership roles at DXC, including Executive Vice President and Chief Operating Officer from August 2021 to April 2023 and Executive Vice President and Chief Information Officer from April 2020 to August 2021.

Before joining DXC, Mr.

Drumgoole served as Chief Information Officer at GE from May 2018 to April 2020, where he led the company’s global technology operations, including applications, infrastructure, and related shared services.

Prior to that role, he was GE’s Chief Technology Officer from April 2014 to April 2018.

Drumgoole joined GE from Verizon, where he was Chief Operating Officer of Verizon’s Terremark subsidiary, a cloud, hosting, and data center provider, from January 2012 to April 2014.

Drumgoole serves on the Board of Directors of Kodiak Gas Services;

on the Advisory Board of Florida International University’s College of Engineering & Computing;

and on the Board of Directors of ONUG, a forum for IT business leaders interested in open technologies.

Drumgoole served as Chief Information Officer at GE from May 2018 to April 2020, following service as Chief Technology Officer from April 2014 to April 2018.

Earlier, he served as Chief Operating Officer of Verizon’s Terremark subsidiary from January 2012 to April 2014.

Drumgoole currently serves on the Board of Directors of Kodiak Gas Services, the Advisory Board of Florida International University’s College of Engineering & Computing, and the Board of Directors of ONUG, a forum for IT business leaders interested in open technologies.

Drumgoole previously served on the Board of Directors of PetSmart.

Fawcett serves as Executive Vice President and General Counsel of DXC since April 2024.

Fawcett serves as Executive Vice President, General Counsel and Secretary of DXC since April 2024.

Before joining DXC, he served at NetApp as Executive Vice President and Chief Strategy Officer from December 2021 to February 2023, as Chief Strategy and Legal Officer from June 2021 to December 2021, and as General Counsel from September 2010 to June 2021.

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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.

Ramanathan Venkataraman serves as President, Consulting & Engineering Services of DXC since July 2025.

Prior to joining DXC, Mr.

Venkataraman was a General Partner of RN Advisory LLC since April 2024, where he provided independent consulting and advisory services.

Before that, he spent nearly three decades at Accenture, where he served in various senior roles, including most recently as Senior Managing Director from December 2013 until April 2024.

Christopher A.

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from November 2018 to May 2021.

From June 2018 to November 2018, Mr.

Voci served as Vice President and Controller for the Innovation Systems Sector of Northrop Grumman Corporation.

From 2016 to June 2018, Mr.

Voci served first as Vice President, Finance and then as Vice President, Controller and principal accounting officer of Orbital ATK (subsequently purchased by Northrop Grumman).

Prior to that, he spent eleven years at Air Products and Chemicals, Inc.

While at APD from 2004 to 2015, Mr.

Voci was Global Controller Industrial Gases from 2014 to 2015, Global Controller Merchant Gases from 2011 to 2014, Director, Financial Planning & Analysis from 2007 to 2011 and Global Healthcare Controller from 2004 to 2007.

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.

Earlier, he held senior finance and controller roles at Northrop Grumman Corporation and Orbital ATK, including Vice President and Controller positions.

Voci previously spent more than a decade at Air Products and Chemicals, Inc., where he held various global finance leadership roles.

He began his career in public accounting, including service as a Senior Manager in Audit and Risk Advisory Services at KPMG LLP and in various roles at Arthur Andersen LLP.

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