Segment Information

6 Months Ended

Jun. 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 and restructuring charges that are not allocated to a particular business segment. Management uses segment EBIT to measure profitability and performance at the segment level. Management believes segment EBIT provides a useful measure of our 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 June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
North America Mailing	$	322,068	$	356,791	$	671,794	$	718,665
International Mailing	106,338		110,610		210,097		226,783
Small & Medium Business Solutions	428,406		467,401		881,891		945,448
Production Mail	95,874		97,731		183,299		197,234
Presort Services	115,765		113,922		243,161		235,453
Enterprise Business Solutions	211,639		211,653		426,460		432,687
Software Solutions	90,464		99,041		168,386		185,278
Global Ecommerce	105,377		77,966		203,738		153,352
Digital Commerce Solutions	195,841		177,007		372,124		338,630
Other	—		24,830		—		54,807
Total revenue	$	835,886	$	880,891	$	1,680,475	$	1,771,572

	EBIT
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
North America Mailing	$	142,227		$	159,392		$	298,142		$	323,057
International Mailing	12,781			14,122			24,632			25,846
Small & Medium Business Solutions	155,008			173,514			322,774			348,903
Production Mail	12,914			10,028			19,738			19,060
Presort Services	21,214			23,544			50,124			$	51,038
Enterprise Business Solutions	34,128			33,572			69,862			70,098
Software Solutions	10,151			16,158			7,579			20,291
Global Ecommerce	3,674			3,056			4,446			11,202
Digital Commerce Solutions	13,825			19,214			12,025			31,493
Other	—			5,611			—			10,569
Total EBIT	202,961			231,911			404,661			461,063
Reconciling items:
Interest, net	(34,294		)	(38,839		)	(68,510		)	(81,673		)
Unallocated corporate expenses	(48,777		)	(51,921		)	(106,544		)	(102,724		)
Restructuring charges and asset impairments, net	(26,076		)	(14,350		)	(33,009		)	(14,269		)
Acquisition and disposition-related expenses	(40		)	(10,483		)	(3,160		)	(10,483		)
Other income (expense), net	(536		)	93,135			(536		)	93,135
Income from continuing operations before income taxes	93,238			209,453			192,902			345,049
Provision for income taxes	33,394			52,351			70,418			102,898
Loss from discontinued operations, net of tax	(1,660		)	(739		)	(1,660		)	(582		)
Net income	$	58,184		$	156,363		$	120,824		$	241,569