Interim Financial Data by Segment

9 Months Ended

Mar. 31, 2020

INTERIM FINANCIAL DATA BY SEGMENT

The Company operates in two reportable segments: Investor Communication Solutions and Global Technology and Operations. See Note 1, “Basis of Presentation” for a further description of the Company’s reportable segments.

The primary components of “Other” are certain gains, losses, corporate overhead expenses and non-operating expenses that have not been allocated to the reportable segments, such as interest expense. Foreign currency exchange is a reconciling item between the actual foreign currency exchange rates and the constant foreign currency exchange rates used for internal management reporting.

Certain corporate expenses, as well as certain centrally managed expenses, are allocated based upon budgeted amounts in a reasonable manner. Because the Company compensates the management of its various businesses on, among other factors, segment profit, the Company may elect to record certain segment-related operating and non-operating expense items in Other rather than reflect such items in segment profit.

In connection with an organizational change made in the first quarter of fiscal year 2020, in order to further align our portfolio of services, the results for the Company's wealth management Advisor Solutions services that were previously reported in our Investor Communication Solutions reportable segment are now reported within the Global Technology and Operations reportable segment. As a result, our prior period segment results for the three and nine months ended March 31, 2019 have been revised to reflect this change, which resulted in transferring $11.2 million of revenues and $0.9 million of earnings before income taxes between reportable segments for the three months ended March 31, 2019 and $32.3 million of revenues and $1.3 million earnings before income taxes between reportable segments for the nine months ended March 31, 2019.

Segment results:


	Revenues
	Three Months Ended March 31,						Nine Months Ended March 31,
	2020		2019		2020		2019
	(In millions)
Investor Communication Solutions	$	980.2	$	1,005.9	$	2,398.4	$	2,488.7
Global Technology and Operations	305.5		247.8		860.3		733.2
Foreign currency exchange	(35.8)		(28.9)		(91.6)		(70.9)
Total	$	1,249.9	$	1,224.8	$	3,167.1	$	3,151.0


	Earnings (Loss) before Income Taxes
	Three Months Ended March 31,						Nine Months Ended March 31,
	2020		2019		2020		2019
	(In millions)
Investor Communication Solutions	$	159.2	$	192.9	$	204.3	$	288.5
Global Technology and Operations	67.4		53.4		172.9		147.5
Other	(17.8)		(25.2)		(107.1)		(76.3)
Foreign currency exchange	1.6		2.5		14.6		17.5
Total	$	210.5	$	223.6	$	284.8	$	377.2