Segment and Geographic Area Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment and Geographic Area Information

Note 17. Segment and Geographic Area Information

Our 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, statement printing, labels, packaging, supply chain management, forms and business process outsourcing. This segment also includes all of our 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 marketing, in-store marketing, digital print, kitting, fulfillment, digital and creative solutions and list services.

Corporate

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

Information by Segment

We have disclosed income (loss) from operations as the primary measure of segment earnings (loss). This is the measure of profitability used by our chief operating decision-maker and is most consistent with the presentation of profitability reported within the consolidated financial statements.

	Total Sales		Intersegment Sales			Net Sales		Income (Loss) from Operations			Assets of Operations		Depreciation and Amortization		Capital Expenditures
Year ended December 31, 2021
Business Services	$	3,969.3	$	(59.8	)	$	3,909.5	$	292.4		$	2,306.7	$	89.2	$	49.8
Marketing Solutions		1,072.6		(18.4	)		1,054.2		61.5			663.8		31.3		10.1
Total operating segments		5,041.9		(78.2	)		4,963.7		353.9			2,970.5		120.5		59.9
Corporate		—		—			—		(190.4	)		160.9		10.0		13.4
Total operations	$	5,041.9	$	(78.2	)	$	4,963.7	$	163.5		$	3,131.4	$	130.5	$	73.3
Year ended December 31, 2020
Business Services	$	3,743.6	$	(58.4	)	$	3,685.2	$	227.9		$	2,220.9	$	95.1	$	48.9
Marketing Solutions		1,103.1		(22.0	)		1,081.1		56.3			674.3		47.2		16.3
Total operating segments		4,846.7		(80.4	)		4,766.3		284.2			2,895.2		142.3		65.2
Corporate		—		—			—		(176.1	)		235.7		3.4		20.4
Total operations	$	4,846.7	$	(80.4	)	$	4,766.3	$	108.1		$	3,130.9	$	145.7	$	85.6
Year ended December 31, 2019
Business Services	$	4,276.9	$	(84.2	)	$	4,192.7	$	220.0		$	2,328.9	$	101.6	$	79.8
Marketing Solutions		1,314.3		(33.8	)	$	1,280.5		67.0			748.1		53.9		36.5
Total operating segments		5,591.2		(118.0	)		5,473.2		287.0			3,077.0		155.5		116.3
Corporate		—		—			—		(101.7	)		253.1		7.1		22.5
Total operations	$	5,591.2	$	(118.0	)	$	5,473.2	$	185.3		$	3,330.1	$	162.6	$	138.8

Corporate assets consisted of the following items at December 31, 2021, 2020 and 2019:

	2021			2020			2019
Cash and cash equivalents	$	(70.0	)	$	(10.9	)	$	(47.6	)
Deferred income tax assets, net of valuation allowances		3.9			43.9			29.4
Software, net		33.6			34.7			43.8
Deferred compensation plan and Company owned life insurance assets		—			0.2			93.9
Property, plant and equipment, net		24.7			28.6			32.2
Other		168.7			139.2			101.4
Total Corporate assets	$	160.9		$	235.7		$	253.1

Net restructuring, impairment and other charges by segment for the years ended December 31, 2021, 2020 and 2019 are described in Note 5, Restructuring, Impairment and Other Charges.

Information by Geographic Area

The following table presents net sales by geographic region for the years ended December 31, 2021, 2020 and 2019. Net sales by geographic region are based upon the sales location.

	2021		2020		2019
U.S.	$	3,438.6	$	3,451.3	$	3,851.9
Asia		1,074.6		868.9		907.8
Europe		229.3		224.5		435.2
Other		221.2		221.6		278.3
Consolidated net sales	$	4,963.7	$	4,766.3	$	5,473.2

The following table presents long-lived assets by geographic region at December 31, 2021, 2020 and 2019. Long-lived assets include net property, plant and equipment, operating lease assets, noncurrent deferred tax assets and other noncurrent assets.

	2021		2020		2019
U.S.	$	572.9	$	608.1	$	733.6
Asia		175.3		160.8		138.9
Europe		68.9		63.3		57.4
Other		52.3		62.7		76.0
Consolidated long-lived assets	$	869.4	$	894.9	$	1,005.9