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BRIEF-Conduent - Co terminated legacy deferred compensation plans
October 4, 2017 / 8:59 PM / in 2 months

BRIEF-Conduent - Co terminated legacy deferred compensation plans

Oct 4 (Reuters) - Conduent Inc

* Conduent - ‍on September 29, co terminated legacy deferred compensation plans and company owned life insurance which held plans’ investment​

* Conduent Inc - will record approximately $19 million in tax expense on transaction​

* Conduent says will make payments to plan participants of approximately $15 million in 2017 and approximately $101 million in 2018​ - SEC filing

* Conduent- because plans were overfunded, about $25 million in cash on co’s balance sheet that was unavailable for use to become available by end of 2018

* Conduent Inc - ‍tax expense to have an approximately 9 cent impact on GAAP earnings per share, for company's Q3 and full year results​ Source: (bit.ly/2gcqflX) Further company coverage:

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