Revenue Recognition

9 Months Ended

Sep. 30, 2020

Revenue From Contract With Customer [Abstract]

Revenue Recognition

3. Revenue Recognition

Disaggregation of Revenue

The following table presents net sales disaggregated by product line:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Commercial print		347.7	$	442.9	$	986.6	$	1,278.8
Packaging		193.6		182.1		459.1		484.2
Direct marketing		125.9		193.5		416.8		479.0
Labels		124.7		123.9		359.9		364.1
Digital print and fulfillment		104.4		122.5		302.6		347.2
Statements		104.3		134.0		333.1		417.1
Supply chain management		77.4		69.8		212.0		222.4
Forms		48.2		60.0		149.2		181.6
Business process outsourcing		40.9		61.1		125.5		189.3
Digital and creative solutions		24.2		27.4		72.9		80.3
Total net sales	$	1,191.3	$	1,417.2	$	3,417.7	$	4,044.0

Variable Consideration

Certain clients may receive volume-based rebates or early payment discounts, which are accounted for as variable consideration. We estimate these amounts based on the expected amount to be earned by our clients and reduce revenue accordingly. We do not expect significant changes to estimates of variable consideration. Given the nature of our products and the history of returns, product returns are not significant.

Contract Balances

The following table provides information about contract liabilities from contracts with clients:

	Contract Liabilities
	Short-Term		Long-Term
Balance at December 31, 2019	$	18.9	$	0.2
Balance at September 30, 2020		12.6		—

Contract liabilities primarily relate to client advances received prior to completion of performance obligations. Reductions in contract liabilities are a result of our completion of performance obligations.

Revenue recognized during the nine months ended September 30, 2020 from amounts included in contract liabilities at the beginning of the period was approximately $16.6 million.