Segment Information

12 Months Ended

Dec. 31, 2011

Segment Reporting, Measurement Disclosures [Abstract]

Segment Information [Text Block]

Segment Information

The Company is organized into two operating segments: the envelopes and labels segment and the commercial printing segment. The envelopes and labels segment specializes in the design, manufacturing and printing of: (i) direct mail and customized envelopes developed for the advertising, billing and remittance needs of a variety of customers, including financial services companies; (ii) custom labels sold through an extensive network of resale distributors for industries including food and beverage, manufacturing and pharmacy chains; and (iii) stock envelopes and labels generally sold to independent distributors, office-products suppliers and office-products retail chains.  The commercial printing segment provides print, design and content management offerings, including: (i) high-end color printing of a wide range of premium products for major national and regional customers; (ii) general commercial printing products for regional and local customers; (iii) scientific, technical and medical journals, special interest and trade magazines for non-profit organizations, educational institutions and specialty publishers; and (iv) specialty packaging and high quality promotional materials for multinational consumer products companies.

Operating income of each segment includes substantially all costs and expenses directly related to the segment’s operations. Corporate expenses include corporate general and administrative expenses, including stock-based compensation.

Corporate identifiable assets primarily consist of cash and cash equivalents, miscellaneous receivables, deferred financing fees, deferred tax assets and other assets.

Summarized financial information concerning the reportable segments is as follows for the years ended (in thousands):

	2011			2010			2009
Net sales:
Envelopes and Labels	$	1,059,170		$	860,672		$	719,364
Commercial Printing	850,017			847,857			895,232
Total	$	1,909,187		$	1,708,529		$	1,614,596
Operating income (loss):
Envelopes and Labels	$	99,922		$	78,951		$	62,162
Commercial Printing	60,991			(159,176		)	(6,397		)
Corporate	(43,153		)	(37,719		)	(38,615		)
Total	$	117,760		$	(117,944	)	$	17,150
Restructuring, impairment and other charges:
Envelopes and Labels	$	7,645		$	12,063		$	17,405
Commercial Printing	9,528			211,042			48,744
Corporate	639			3,045			1,885
Total	$	17,812		$	226,150		$	68,034
Significant non-cash charges:
Envelopes and Labels	$	10,520		$	8,005		$	3,875
Commercial Printing	9,194			198,647			27,919
Corporate	1,449			1,622			274
Total	$	21,163		$	208,274		$	32,068
Depreciation and intangible asset amortization:
Envelopes and Labels	$	26,437		$	25,754		$	21,598
Commercial Printing	34,339			35,629			39,825
Corporate	3,178			2,469			2,017
Total	$	63,954		$	63,852		$	63,440
Capital expenditures:
Envelopes and Labels	$	3,590		$	1,462		$	4,047
Commercial Printing	7,071			13,020			18,150
Corporate	5,010			3,670			2,838
Total	$	15,671		$	18,152		$	25,035
Net sales by product line:
Envelopes	$	725,253		$	517,173		$	517,512
Commercial Printing and Packaging	604,470			591,554			600,294
Journals and Periodicals	244,793			255,536			293,891
Labels	334,671			344,266			202,899
Total	$	1,909,187		$	1,708,529		$	1,614,596
Intercompany sales:
Envelopes and Labels to Commercial Printing	$	4,470		$	4,771		$	4,315
Commercial Printing to Envelopes and Labels	7,272			6,553			1,865
Total	$	11,742		$	11,324		$	6,180

Summarized financial information concerning the Company’s reportable segments is as follows as of the years ended (in thousands):

	2011		2010
Total assets:
Envelopes and Labels	$	703,658	$	662,455
Commercial Printing	586,258		627,982
Corporate	95,672		116,474
Total	$	1,385,588	$	1,406,911

Geographic information is as follows for the years ended (in thousands):

	2011		2010		2009
Net sales:
U.S.	$	1,813,093	$	1,605,832	$	1,536,077
Foreign	96,094		102,697		78,519
Total	$	1,909,187	$	1,708,529	$	1,614,596

	2011		2010
Long-lived assets (property, plant and equipment, goodwill and intangible assets):
U.S.	$	702,853	$	719,755
Foreign	40,099		40,444
Total	$	742,952	$	760,199