Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Cash, Cash Equivalents and Restricted Cash

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash at March 31, 2021 and December 31, 2020 reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statement of Cash Flows.

	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	261.6	$	288.8
Restricted cash - current (a)		52.8		62.6
Restricted cash - noncurrent (b)		6.2		6.2
Total cash, cash equivalents and restricted cash	$	320.6	$	357.6

(a) Included within Prepaid expenses and other current assets within the Condensed Consolidated Balance Sheets

(b) Included within Other noncurrent assets within the Condensed Consolidated Balance Sheets

Revenue Recognition

Disaggregation of Revenue

The following table presents net sales disaggregated by products and services:

	March 31,
	2021		2020
Commercial print	$	336.5	$	363.4
Packaging		174.4		115.1
Direct marketing		130.9		182.8
Labels		128.7		121.6
Statements		118.5		126.9
Digital print and fulfillment		97.5		113.6
Supply chain management		72.7		69.7
Forms		48.8		52.4
Business process outsourcing		42.5		44.0
Digital and creative solutions		22.6		27.4
Total net sales	$	1,173.1	$	1,216.9

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
Balance at December 31, 2020	$	15.6
Balance at March 31, 2021		17.6

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 three months ended March 31, 2021 from amounts included in contract liabilities at the beginning of the period was approximately $8.8 million.