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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Effective January 1, 2024, we moved the digital delivery services offering from the Global Ecommerce segment to the SendTech Solutions segment in order to leverage our technology and innovation capabilities to better serve our clients. Prior periods have been recast to conform to our current segment presentation.
Our reportable segments are SendTech Solutions, Presort Services and Global Ecommerce. The principal products and services of each reportable segment are as follows:
SendTech Solutions: Includes the revenue and related expenses from physical and digital shipping and mailing technology solutions, financing, services, supplies and other applications to help simplify and save on the sending, tracking and receiving of letters, parcels and flats.
Presort Services: Includes revenue and related expenses from sortation services that qualify large volumes of First Class Mail, Marketing Mail and Marketing Mail Flats/Bound Printed Matter for postal worksharing discounts.
Global Ecommerce: Includes the revenue and related expenses from consumer logistics services for domestic and cross-border delivery, returns and fulfillment.
Management measures segment profitability and performance using adjusted segment earnings before interest and taxes (EBIT). Adjusted segment EBIT is calculated by deducting from segment revenue the related costs and expenses attributable to the segment. Adjusted segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, goodwill impairment charges and other items not allocated to a particular business segment. Costs related to shared assets are allocated to the relevant segments. Management believes that adjusted segment EBIT provides investors a useful measure of operating performance and underlying trends of the business. Adjusted 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 a reconciliation of adjusted segment EBIT to net income or loss.
Revenue
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
SendTech Solutions$320,155 $328,325 $647,592 $663,320 
Presort Services146,858 143,107 316,665 302,009 
Global Ecommerce
326,157 305,049 659,422 645,690 
Total revenue$793,170 $776,481 $1,623,679 $1,611,019 

Adjusted Segment EBIT
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
SendTech Solutions$100,967 $96,848 $202,245 $192,485 
Presort Services27,048 20,429 67,377 47,334 
Global Ecommerce
(30,935)(37,483)(66,362)(70,655)
Total adjusted segment EBIT97,080 79,794 203,260 169,164 
Reconciliation of adjusted segment EBIT to net income or loss:  
Interest expense, net(44,732)(37,683)(89,101)(74,561)
Unallocated corporate expenses(51,275)(47,709)(101,045)(104,058)
Restructuring charges(31,843)(22,443)(36,158)(26,042)
Goodwill impairment— (118,599)— (118,599)
Proxy solicitation fees— (4,538)— (10,905)
Gain on debt redemption
— 228 — 3,064 
Foreign currency gain on intercompany loans712 — 5,350 — 
CEO and Board transition costs
(2,631)— (2,631)— 
Strategic review costs(5,975)— (8,665)— 
Benefit for income taxes13,797 9,415 1,238 12,665 
Net loss$(24,867)$(141,535)$(27,752)$(149,272)