Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

Our reportable segments are Global Ecommerce, Presort Services and Sending Technology Solutions (SendTech Solutions). The principal products and services of each reportable segment are as follows:

Global Ecommerce: Includes the revenue and related expenses from domestic parcel services, cross-border solutions and digital delivery services.

Presort Services: Includes revenue and related expenses from sortation services to qualify large volumes of First Class Mail, Marketing Mail, Marketing Mail Flats and Bound Printed Matter for postal worksharing discounts.

SendTech Solutions: Includes the revenue and related expenses from physical and digital mailing and shipping technology solutions, financing, services, supplies and other applications to help simplify and save on the sending, tracking and receiving of letters, parcels and flats.

Management measures segment profitability and performance using segment earnings before interest and taxes (EBIT). Segment EBIT is calculated by deducting from segment revenue the related costs and expenses attributable to the segment. Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, asset impairment charges and other items not allocated to a particular business segment. Management believes that it provides investors a useful measure of operating performance and underlying trends of the business. Segment EBIT may not be indicative of our overall consolidated performance and therefore, should be read in conjunction with our consolidated results of operations. The following tables provide information about our reportable segments and reconciliation of segment EBIT to net loss.

	Revenue
	Three Months Ended March 31,
	2021		2020
Global Ecommerce	$	413,086	$	292,323
Presort Services	143,126		140,720
SendTech Solutions	358,985		363,225
Total revenue	$	915,197	$	796,268

	EBIT
	Three Months Ended March 31,
	2021		2020
Global Ecommerce	$	(26,376)	$	(29,475)
Presort Services	19,051		15,695
SendTech Solutions	114,470		106,562
Total segment EBIT	107,145		92,782
Reconciliation of Segment EBIT to net loss:
Unallocated corporate expenses	(57,465)		(43,722)
Restructuring charges	(2,889)		(3,817)
Interest expense, net	(37,044)		(38,372)
Goodwill impairment	—		(198,169)
Loss on debt refinancing	(51,394)		(36,987)
Transaction costs	—		(292)
Benefit for income taxes	13,992		10,030
Loss from continuing operations	(27,655)		(218,547)
(Loss) income from discontinued operations, net of tax	(3,886)		10,064
Net loss	$	(31,541)	$	(208,483)