Subsequent Event

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On April 27, 2018, we entered into an agreement to sell our Document Messaging Technologies production mail business and supporting software (collectively, the Business) for $361 million, subject to certain adjustments. We anticipate proceeds from the sale of approximately $270 million, net of estimated closing costs, transaction fees and taxes.  We expect to use the majority of the net proceeds from the sale to pay down debt.  The transaction is likely to be completed late in the second quarter or early in the third quarter of 2018 subject to customary closing conditions. 

Beginning in the second quarter of 2018, we will report the results of the Business as a discontinued operation in our condensed consolidated financial statements. Prior periods will be recast to conform to this presentation.