Segment Information

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

The principal products and services of each of our reportable segments are as follows:

Small & Medium Business Solutions:

North America Mailing: Includes the revenue and related expenses from the sale, rental, financing and servicing of mailing equipment, software and supplies for small and medium businesses to efficiently create physical and digital mail and evidence postage for the sending of mail, flats and parcels in the U.S. and Canada.

International Mailing: Includes the revenue and related expenses from the sale, rental, financing and servicing of mailing equipment, software and supplies for small and medium businesses to efficiently create physical and digital mail and evidence postage for the sending of mail, flats and parcels in areas outside the U.S. and Canada.

Enterprise Business Solutions:

Production Mail: Includes the worldwide revenue and related expenses from the sale of production mail inserting and sortation equipment, high-speed production print systems, supplies and related support services to large enterprise clients to process inbound and outbound mail.

Presort Services: Includes revenue and related expenses from presort mail services for our large enterprise clients to qualify large mail volumes for postal worksharing discounts.

Digital Commerce Solutions:

Software Solutions: Includes the worldwide revenue and related expenses from the licensing of non-equipment-based mailing, customer information management, location intelligence and customer engagement solutions and related support services.

Global Ecommerce: Includes the worldwide revenue and related expenses from shipping solutions and cross-border ecommerce.

We determine segment earnings before interest and taxes (EBIT) by deducting from segment revenue the related costs and expenses attributable to the segment. Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, and other items that are not allocated to a particular business segment. Management uses segment EBIT to measure profitability and performance at the segment level and believes that it provides a useful measure of operating performance and underlying trends of the businesses. Segment EBIT may not be indicative of our overall consolidated performance and therefore, should be read in conjunction with our consolidated results of operations.

Revenue and EBIT by business segment is presented below:

	Revenue
	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
North America Mailing	$	329,995	$	353,159	$	1,001,789	$	1,071,824
International Mailing	95,628		104,615		305,725		331,398
Small & Medium Business Solutions	425,623		457,774		1,307,514		1,403,222
Production Mail	106,350		101,646		289,649		298,880
Presort Services	114,053		115,912		357,214		351,365
Enterprise Business Solutions	220,403		217,558		646,863		650,245
Software Solutions	89,031		97,638		257,417		282,916
Global Ecommerce	103,974		96,571		307,712		249,923
Digital Commerce Solutions	193,005		194,209		565,129		532,839
Other	—		—		—		54,807
Total revenue	$	839,031	$	869,541	$	2,519,506	$	2,641,113

	EBIT
	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
North America Mailing	$	138,588		$	159,319		$	436,730		$	482,376
International Mailing	9,733			10,739			34,365			36,585
Small & Medium Business Solutions	148,321			170,058			471,095			518,961
Production Mail	15,696			12,401			35,434			31,461
Presort Services	19,181			25,908			69,305			76,946
Enterprise Business Solutions	34,877			38,309			104,739			108,407
Software Solutions	10,329			14,613			17,908			34,904
Global Ecommerce	4,389			(1,240		)	8,835			9,962
Digital Commerce Solutions	14,718			13,373			26,743			44,866
Other	—			—			—			10,569
Total EBIT	197,916			221,740			602,577			682,803
Reconciling items:
Interest, net	(35,259		)	(37,698		)	(103,769		)	(119,371		)
Unallocated corporate expenses	(51,992		)	(49,235		)	(158,536		)	(151,959		)
Restructuring charges and asset impairments, net	(16,494		)	(36		)	(49,503		)	(14,305		)
Acquisition and disposition-related expenses	(578		)	—			(3,738		)	(10,483		)
Other income (expense), net	—			1,781			(536		)	94,916
Income from continuing operations before income taxes	93,593			136,552			286,495			481,601
Provision for income taxes	23,197			42,676			93,615			145,574
Loss from discontinued operations, net of tax	(291		)	—			(1,951		)	(582		)
Net income	$	70,105		$	93,876		$	190,929		$	335,445