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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Our reportable segments are SendTech Solutions and Presort Services. 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. Presort Services includes the revenue and related expenses from sortation services to qualify large volumes of First Class Mail, Marketing Mail and Marketing Mail Flats/Bound Printed Matter for postal worksharing discounts.
Other operations includes the revenue and related expenses of our former Global Ecommerce reportable segment that did not qualify for discontinued operations treatment. These operations represent previous operations that were dissolved or sold, certain shared services functions and a cross-border services contract.
Management, including our Chief Executive Officer, who is the Chief Operating Decision Maker (CODM), 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 income or loss from continuing operations before income taxes.
Revenue
Years Ended December 31,
202420232022
SendTech Solutions
$1,279,866 $1,327,873 $1,518,755 
Presort Services662,587 617,599 602,016 
Total segment revenue
1,942,453 1,945,472 2,120,771 
Other
84,145 133,453 362,112 
Total revenue$2,026,598 $2,078,925 $2,482,883 
Geographic data:
United States$1,700,864 $1,712,079 $2,010,052 
Outside United States325,734 366,846 472,831 
Total revenue$2,026,598 $2,078,925 $2,482,883 
Years Ended December 31,
202420232022
SendTech Solutions
Revenue$1,279,866 $1,327,873 $1,518,755 
Less:
Cost of revenue424,472 454,176 625,762 
Operating expenses
453,594 465,606 491,275 
Adjusted segment EBIT$401,800 $408,091 $401,718 
Presort Services
Revenue$662,587 $617,599 $602,016 
Less:
Cost of revenue
417,741 432,229 454,923 
Operating expenses
79,062 74,458 64,663 
Adjusted segment EBIT$165,784 $110,912 $82,430 

Adjusted Segment EBIT
Years Ended December 31,
202420232022
SendTech Solutions
$401,800 $408,091 $401,718 
Presort Services
165,784 110,912 82,430 
Total adjusted segment EBIT567,584 519,003 484,148 
Reconciling items:  
Other operations
(4,232)(354)48,020 
Interest expense, net
(173,694)(162,050)(139,095)
Corporate expenses
(178,141)(210,931)(204,251)
Restructuring charges
(76,915)(52,412)(17,208)
Pension settlement
(91,339)— — 
Impairment charges
(10,000)(123,574)— 
Gain on sale of assets— — 14,372 
Gain on sale of businesses, including transaction costs
— — 7,659 
(Loss) gain on debt redemption/refinancing
(10,892)3,064 (4,993)
Proxy solicitation fees
— (10,905)— 
Foreign currency gain (loss) on intercompany loans
10,243 (5,761)— 
Charges in connection with Ecommerce Restructuring
(67,831)— — 
Strategic review costs
(17,110)— — 
(Loss) income from continuing operations before income taxes
$(52,327)$(43,920)$188,652 
Depreciation and amortization
Years Ended December 31,
202420232022
SendTech Solutions
39,992 37,981 37,164 
Presort Services
35,825 33,642 28,039 
Total reportable segments
75,817 71,623 65,203 
Corporate32,276 30,119 27,992 
Other operations
6,392 10,982 17,971 
Total depreciation and amortization$114,485 $112,724 $111,166 
Capital expenditures
Years Ended December 31,
202420232022
SendTech Solutions
$44,351 $44,975 $39,505 
Presort Services
11,011 11,182 23,363 
Total reportable segments
55,362 56,157 62,868 
Corporate13,829 18,099 16,683 
Other operations
3,212 3,853 3,078 
Total capital expenditures
$72,403 $78,109 $82,629 
Assets
December 31,
202420232022
SendTech Solutions
$1,981,359 $2,081,199 $2,062,675 
Presort Services478,420 500,757 510,345 
Total reportable segments
2,459,779 2,581,956 2,573,020 
Cash and cash equivalents469,726 600,054 668,331 
Short-term investments16,374 22,166 11,172 
Long-term investments190,436 250,240 259,977 
Other corporate assets261,201 285,328 535,832 
Assets of discontinued operations
— 532,441 693,023 
Consolidated assets$3,397,516 $4,272,185 $4,741,355 
Identifiable long-lived assets:
United States$345,457 $390,471 $428,980 
Outside United States11,143 13,682 13,934 
Total$356,600 $404,153 $442,914