Revenue Recognition

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Revenue Disaggregation

The following tables provide information about disaggregated revenue by the Company’s operating segments and major products and services offerings for the three months ended March 31, 2024 and 2023:

	United States Print and Related Services		International		Total
Three months ended March 31, 2024
Catalog, publications, retail inserts and directories	$	312.2	$	48.2	$	360.4
Direct mail and other printed products	121.7		23.1		144.8
Other	2.0		—		2.0
Total products	435.9		71.3		507.2
Logistics services	63.2		4.3		67.5
Marketing services and medical services	79.8		0.3		80.1
Total services	143.0		4.6		147.6
Total net sales	$	578.9	$	75.9	$	654.8
Three months ended March 31, 2023
Catalog, publications, retail inserts and directories	$	360.9	$	57.3	$	418.2
Direct mail and other printed products	142.0		45.9		187.9
Other	1.6		0.2		1.8
Total products	504.5		103.4		607.9
Logistics services	64.4		5.1		69.5
Marketing services and medical services	88.7		0.4		89.1
Total services	153.1		5.5		158.6
Total net sales	$	657.6	$	108.9	$	766.5

Nature of Products and Services

The Company recognizes its products and services revenue based on when the transfer of control passes to the client or when the service is completed and accepted by the client.

The products offering is predominantly comprised of the Company’s print operations which includes retail inserts, publications, catalogs, special interest publications, journals, direct mail, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products and global paper procurement.

The Company considers its logistic operations as services, which include the delivery of printed material. The services offering also includes revenues related to the Company’s marketing services operations, which include data and analytics, technology solutions, media services, creative and content solutions, managed services and execution in non-print channels (e.g., digital and broadcast), as well as medical services.

Costs to Obtain Contracts

In accordance with Accounting Standards Codification 606 — Revenue from Contracts with Customers, the Company defers certain contract acquisition costs paid to the client at contract inception. Costs to obtain contracts with a duration of less than one year are expensed as incurred. For all contract costs with contracts over one year, the Company amortizes the costs to obtain contracts on a straight-line basis over the estimated life of the contract and reviews quarterly for impairment. Activity impacting costs to obtain contracts for the three months ended March 31, 2024, was as follows:

	Costs to Obtain Contracts
Balance at December 31, 2023	$	1.8
Amortization of costs to obtain contracts	(0.2)
Balance at March 31, 2024	$	1.6