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Segment Information
3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Segment Information

12. Segment Information

During the first quarter of 2018, management realigned the Company’s reportable segments to reflect changes in the global operating structure of the Company and the manner in which the chief operating decision maker assesses information for decision-making purposes. All prior year amounts have been reclassified to conform to the Company’s current reporting structure.

The Company’s segments and their product and service offerings are summarized below:

Business Services

Business Services provides customized solutions at scale to help clients inform, service and transact with their customers. The segment’s primary product and service offerings include commercial print, logistics, statement printing, labels, packaging, supply chain management, forms and business process outsourcing. This segment also includes all of the Company’s operations in Asia, Europe, Canada and Latin America.

Marketing Solutions

Marketing Solutions leverages an integrated portfolio of data analytics, creative services and multichannel execution to deliver comprehensive, end-to-end solutions. The segment’s primary product and service offerings include direct mail, in-store marketing, digital print, kitting, fulfillment, digital and creative solutions and list services.

Corporate

Corporate consists of unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, communications, certain facility costs and last-in-first-out inventory provisions. In addition, certain costs and earnings of employee benefit plans, such as pension and other postretirement benefits plan expense (income) and share-based compensation, are included in Corporate and not allocated to the operating segments. Corporate also manages the Company’s cash pooling structures, which enables participating international locations to draw on our international cash resources to meet local liquidity needs.

Information by Segment

The Company has disclosed income (loss) from operations as the primary measure of segment earnings (loss). This is the measure of profitability used by the Company’s chief operating decision-maker and is most consistent with the presentation of profitability reported within the Condensed Consolidated Financial Statements.

 

 

 

Three Months Ended

 

 

 

 

 

 

 

March 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss)

 

 

Depreciation

 

 

 

 

 

 

Operations

 

 

 

Total

 

 

Intersegment

 

 

Net

 

 

from

 

 

and

 

 

Capital

 

 

As of

 

 

 

Sales

 

 

Sales

 

 

Sales

 

 

Operations

 

 

Amortization

 

 

Expenditures

 

 

March 31, 2018

 

Business Services

 

$

1,445.5

 

 

$

(29.4

)

 

$

1,416.1

 

 

$

39.8

 

 

$

34.0

 

 

$

16.7

 

 

$

2,813.3

 

Marketing Solutions

 

 

298.0

 

 

 

(6.3

)

 

 

291.7

 

 

 

12.3

 

 

 

11.9

 

 

 

3.0

 

 

 

678.4

 

Total operating segments

 

 

1,743.5

 

 

 

(35.7

)

 

 

1,707.8

 

 

 

52.1

 

 

 

45.9

 

 

 

19.7

 

 

 

3,491.7

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

(19.9

)

 

 

1.3

 

 

 

1.8

 

 

 

188.9

 

Total operations

 

$

1,743.5

 

 

$

(35.7

)

 

$

1,707.8

 

 

$

32.2

 

 

$

47.2

 

 

$

21.5

 

 

$

3,680.6

 

 

 

 

Three Months Ended

 

 

 

 

 

 

 

March 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss)

 

 

Depreciation

 

 

 

 

 

 

Operations

 

 

 

Total

 

 

Intersegment

 

 

Net

 

 

from

 

 

and

 

 

Capital

 

 

As of

 

 

 

Sales

 

 

Sales

 

 

Sales

 

 

Operations

 

 

Amortization

 

 

Expenditures

 

 

December 31, 2017

 

Business Services

 

$

1,409.8

 

 

$

(33.4

)

 

$

1,376.4

 

 

$

58.7

 

 

$

35.1

 

 

$

14.9

 

 

$

2,989.5

 

Marketing Solutions

 

 

290.9

 

 

 

(8.4

)

 

 

282.5

 

 

 

4.9

 

 

 

12.2

 

 

 

4.6

 

 

 

717.0

 

Total operating segments

 

 

1,700.7

 

 

 

(41.8

)

 

 

1,658.9

 

 

 

63.6

 

 

 

47.3

 

 

 

19.5

 

 

 

3,706.5

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

(20.3

)

 

 

1.3

 

 

 

6.6

 

 

 

198.0

 

Total operations

 

$

1,700.7

 

 

$

(41.8

)

 

$

1,658.9

 

 

$

43.3

 

 

$

48.6

 

 

$

26.1

 

 

$

3,904.5

 

 

Restructuring and other expenses by segment are described in Note 6, Restructuring and Other.