Quad/Graphics (QUAD) 10-Q 1 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Entity Information [Line Items]
Entity Registrant Name	Quad/Graphics, Inc.
Entity Central Index Key	0001481792
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Trading Symbol	QUAD
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		37,979,598
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		13,556,858
Common Class C
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net sales
Products	$ 805.1	$ 801.1
Services	199.6	166.4
Total net sales	1,004.7	967.5
Cost of sales
Products	695	665.2
Services	142.1	127.2
Total cost of sales	837.1	792.4
Operating expenses
Selling, general and administrative expenses	97.9	86.9
Depreciation and amortization	59.2	56.2
Restructuring, impairment and transaction-related charges	7.6	24.9
Total operating expenses	1,001.8	960.4
Operating income	2.9	7.1
Interest expense	21.8	17.3
Net pension income	(1.5)	(3.1)
Loss on debt extinguishment	15.9	0
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	(33.3)	(7.1)
Income tax benefit	(10.6)	(3.3)
Loss before equity in loss (earnings) of unconsolidated entity	(22.7)	(3.8)
Equity in loss (earnings) of unconsolidated entity	0.1	(0.3)
Net loss	(22.8)	(3.5)
Less: net loss attributable to noncontrolling interests	(0.3)	0
Net loss attributable to Quad common shareholders	$ (22.5)	$ (3.5)
Loss per share attributable to Quad common shareholders
Basic and diluted (in dollars per share)	$ (0.45)	$ (0.07)
Weighted average number of common shares outstanding
Basic and diluted (in shares)	49.6	50.1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (22.8)	$ (3.5)
Other comprehensive (loss) income
Translation adjustments	(0.3)	5.6
Interest rate swap adjustments	(3.7)	3.7
Other comprehensive (loss) income, before tax	(4)	9.3
Income tax impact related to items of other comprehensive (loss) income	0.9	(0.8)
Other comprehensive (loss) income, net of tax	(3.1)	8.5
Total comprehensive (loss) income	(25.9)	5
Less: comprehensive loss attributable to noncontrolling interests	(0.3)	0
Comprehensive (loss) income attributable to Quad common shareholders	$ (25.6)	$ 5

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 10.4	$ 69.5
Receivables, less allowances for doubtful accounts of $28.0 million at March 31, 2019, and $27.6 million at December 31, 2018	512.3	528.7
Inventories	283	300.6
Prepaid expenses and other current assets	50.2	47.8
Total current assets	855.9	946.6
Property, plant and equipment—net	1,235.9	1,257.4
Operating lease right-of-use assets—net	127.3	0
Goodwill	114.8	54.6
Other intangible assets—net	172.6	112.6
Equity method investment in unconsolidated entity	3.9	4
Other long-term assets	92.8	93.9
Total assets	2,603.2	2,469.1
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	419.3	511
Accrued liabilities	247.8	292.3
Short-term debt and current portion of long-term debt	52.4	42.9
Current portion of finance lease obligations	5.1	5.1
Current portion of operating lease obligations	33.6	0
Total current liabilities	758.2	851.3
Long-term debt	1,074.5	882.6
Finance lease obligations	9.8	10.3
Operating lease obligations	97.2	0
Deferred income taxes	19.9	32.1
Other long-term liabilities	223.7	232.6
Total liabilities	2,183.3	2,008.9
Commitments and contingencies (Note 8)
Shareholders’ equity
Preferred stock	0	0
Additional paid-in capital	836.2	861.3
Treasury stock, at cost	(29.9)	(56.6)
Accumulated deficit	(249.9)	(211.4)
Accumulated other comprehensive loss	(155.3)	(152.2)
Quad’s shareholders’ equity	402.5	442.5
Noncontrolling interests	17.4	17.7
Total shareholders’ equity and noncontrolling interests	419.9	460.2
Total liabilities and shareholders’ equity	2,603.2	2,469.1
Common Class A
Shareholders’ equity
Common stock	1	1
Common Class B
Shareholders’ equity
Common stock	0.4	0.4
Common Class C
Shareholders’ equity
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 28	$ 27.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Cash Flows [Abstract]
Net loss	$ (22,800,000)	$ (3,500,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	59,200,000	56,200,000
Employee stock ownership plan contribution	0	22,300,000
Impairment charges	1,700,000	7,900,000
Amortization of debt issuance costs and original issue discount	1,100,000	900,000
Loss on debt extinguishment	15,900,000	0
Stock-based compensation	5,000,000	5,400,000
Gain from property insurance claims	(800,000)	(17,200,000)
Gain on the sale or disposal of property, plant and equipment	(3,000,000)	(2,200,000)
Deferred income taxes	(10,700,000)	900,000
Equity in loss (earnings) of unconsolidated entity	100,000	(300,000)
Changes in operating assets and liabilities—net of acquisitions	(104,300,000)	(68,200,000)
Net cash (used in) provided by operating activities	(58,600,000)	2,200,000
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(45,300,000)	(24,200,000)
Proceeds from the sale of property, plant and equipment	7,800,000	4,300,000
Proceeds from property insurance claims	300,000	13,400,000
Acquisition of businesses—net of cash acquired	(121,000,000)	(73,900,000)
Net cash used in investing activities	(158,200,000)	(80,400,000)
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	490,400,000	0
Payments of long-term debt	(534,300,000)	(5,000,000)
Payments of finance lease obligations	(1,600,000)	(1,600,000)
Borrowings on revolving credit facilities	1,239,300,000	245,500,000
Payments on revolving credit facilities	(990,100,000)	(174,000,000)
Payments of debt issuance costs and financing fees	(20,200,000)	0
Proceeds from stock options exercised	0	4,000,000
Equity awards redeemed to pay employees’ tax obligations	(6,600,000)	(7,500,000)
Payment of cash dividends	(19,200,000)	(17,200,000)
Net cash provided by financing activities	157,700,000	44,200,000
Effect of exchange rates on cash and cash equivalents	0	(200,000)
Net decrease in cash and cash equivalents	(59,100,000)	(34,200,000)
Cash and cash equivalents at beginning of period	69,500,000	64,400,000
Cash and cash equivalents at end of period	$ 10,400,000	$ 30,200,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity and Noncontrolling Interests - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Loss	Quad’s Shareholders’ Equity	Noncontrolling Interests
Beginning balance, shares at Dec. 31, 2017		54.3		(2.3)
Beginning balance, Quad's shareholders equity at Dec. 31, 2017		$ 1.4	$ 861.1	$ (52.8)	$ (156.8)	$ (127.3)	$ 525.6
Beginning balance, noncontrolling interests at Dec. 31, 2017								$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Quad common shareholders	$ (3.5)				(3.5)		(3.5)
Net earnings (loss) attributable to noncontrolling interests	0							0
Consolidation of Rise								30
Foreign currency translation adjustments						5.6	5.6
Interest rate swap adjustments, net of tax						2.9	2.9
Cash dividends declared ($1.20 per share)					(16.1)		(16.1)
Stock-based compensation			5.4				5.4
Employee stock ownership plan contribution, shares				1
Employee stock ownership plan contribution				$ 22.3			22.3
Stock options exercised, shares				0.3
Stock options exercised			(3.3)	$ 7.3			4
Issuance of share-based awards, net of other activity, shares				0.6
Issuance of share-based awards, net of other activity			(12.8)	$ 12.8
Awards redeemed to pay employees' tax obligations, shares				(0.3)
Awards redeemed to pay employees’ tax obligations				$ (7.5)			(7.5)
Ending balance, shares at Mar. 31, 2018		54.3		(0.7)
Ending balance, Quad's shareholders' equity at Mar. 31, 2018		$ 1.4	850.4	$ (17.9)	(176.4)	(118.8)	538.7
Ending balance, noncontrolling interests at Mar. 31, 2018								30
Beginning balance, shares at Dec. 31, 2018		54.3		(2.7)
Beginning balance, Quad's shareholders equity at Dec. 31, 2018	442.5	$ 1.4	861.3	$ (56.6)	(211.4)	(152.2)	442.5
Beginning balance, noncontrolling interests at Dec. 31, 2018	17.7							17.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss) attributable to Quad common shareholders	(22.5)				(22.5)		(22.5)
Net earnings (loss) attributable to noncontrolling interests	0.3							(0.3)
Foreign currency translation adjustments						(0.3)	(0.3)
Interest rate swap adjustments, net of tax						(2.8)	(2.8)
Cash dividends declared ($1.20 per share)					(16)		(16)
Stock-based compensation			5				5
Issuance of share-based awards, net of other activity, shares				1.7
Issuance of share-based awards, net of other activity			(30.1)	$ 33.3			3.2
Awards redeemed to pay employees' tax obligations, shares				(0.5)
Awards redeemed to pay employees’ tax obligations				$ (6.6)			(6.6)
Ending balance, shares at Mar. 31, 2019		54.3		(1.5)
Ending balance, Quad's shareholders' equity at Mar. 31, 2019	402.5	$ 1.4	$ 836.2	$ (29.9)	$ (249.9)	$ (155.3)	$ 402.5
Ending balance, noncontrolling interests at Mar. 31, 2019	$ 17.4							$ 17.4

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Shareholders' Equity and Noncontroling Interests (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividend declared (in dollars per share)	$ 0.30	$ 0.30

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements for Quad/Graphics, Inc. and its subsidiaries (the “Company” or “Quad”) have been prepared by the Company pursuant to the rules and regulations for interim financial information of the United States Securities and Exchange Commission (“ SEC ”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“ GAAP ”) have been omitted pursuant to such SEC rules and regulations. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated annual financial statements as of and for the year ended December 31, 2018 , and notes thereto included in the Company’s latest Annual Report on Form 10-K filed with the SEC on February 20, 2019 . The Company is subject to seasonality in its quarterly results as net sales and operating income are higher in the third and fourth quarters of the calendar year as compared to the first and second quarters. The fourth quarter is typically the highest seasonal quarter for cash flows from operating activities due to the reduction of working capital requirements that reach peak levels during the third quarter. Seasonality is driven by increased magazine advertising page counts, retail inserts, catalogs and books primarily due to back-to-school and holiday-related advertising and promotions. The Company expects this seasonality impact to continue in future years. The financial information contained herein reflects all adjustments, in the opinion of management, necessary for a fair presentation of the Company’s results of operations for the three months ended March 31, 2019 and 2018 . All of these adjustments are of a normal recurring nature, except as otherwise noted. All intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates. Leases On January 1, 2019, the Company adopted Accounting Standards Update 2016-02, “Leases (Topic 842)” (“ Topic 842 ”), which establishes a right-of-use model requiring a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. The Company adopted Topic 842 using the modified retrospective approach and applied the new guidance to those contracts existing at, or entered into after, January 1, 2019. See Note 10 , “ Leases ,” for additional accounting policy and transition disclosures.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Disaggregation The following table provides information about disaggregated revenue by the Company’s operating segments and major products and services offerings for the three months ended March 31, 2019 and 2018: United States Print International Total Three months ended March 31, 2019 Catalog, publications, retail inserts, and directories $ 485.7 $ 71.3 $ 557.0 Direct mail, books and other printed products 211.1 30.4 241.5 Other 6.5 0.1 6.6 Total Products 703.3 101.8 805.1 Logistics services 100.3 4.1 104.4 Imaging, marketing services and other services 95.1 0.1 95.2 Total Services 195.4 4.2 199.6 Total Net Sales $ 898.7 $ 106.0 $ 1,004.7 Three months ended March 31, 2018 Catalog, publications, retail inserts, and directories $ 510.1 $ 76.5 $ 586.6 Direct mail, books and other printed products 189.7 17.9 207.6 Other 6.8 0.1 6.9 Total Products 706.6 94.5 801.1 Logistics services 97.8 5.2 103.0 Imaging, marketing services and other services 63.4 — 63.4 Total Services 161.2 5.2 166.4 Total Net Sales $ 867.8 $ 99.7 $ 967.5 Nature of Products and Services The Company recognizes its products and services revenue based on when the transfer of control passes to the customer or when the service is completed and accepted by the customer. The products offering is predominantly comprised of the Company’s print operations which includes retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products and global paper procurement. The Company considers its logistic operations as services, which include the delivery of printed material. The Services offering also includes revenues related to the Company’s imaging operations, which include digital content management, photography, color services, page production, marketing services, media planning and placement, facilities management and medical services. Costs to Obtain Contracts In accordance with Accounting Standards Codification (“ ASC ”) 606 — Revenue from Contracts with Customers , the Company capitalizes certain sales incentives of the sales compensation packages for costs that are directly attributed to being awarded a customer contract or renewal and would not have been incurred had the contract not been obtained. The Company also defers certain contract acquisition costs paid to the customer at contract inception. Costs to obtain contracts with a duration of less than one year are expensed as incurred. For all contract costs with contracts over one year, the Company amortizes the costs to obtain contracts on a straight-line basis over the estimated life of the contract and reviews quarterly for impairment. Activity impacting costs to obtain contracts for the three months ended March 31, 2019 , was as follows: Costs to Obtain Contracts Balance at January 1, 2019 $ 21.7 Costs to obtain contracts 1.7 Amortization of costs to obtain contracts (2.4 ) Balance at March 31, 2019 $ 21.0 Remaining Performance Obligations For certain performance obligations related to print contracts, the Company has elected not to disclose the value of unsatisfied performance obligations for the following: (1) contracts that have an original expected length of one year or less; (2) contracts where revenue is recognized as invoiced; or (3) contracts with variable consideration related to unsatisfied performance obligations. The Company had approximately $415.0 million in volume commitments in contracts that extend beyond one year as of March 31, 2019 . The Company expects to recognize approximately 31% of these volume commitments in contracts as revenue by the end of 2019 , an additional 38% by the end of 2021 , and the balance thereafter.

Acquisitions and Strategic Inve

Acquisitions and Strategic Investments Acquisitions and Strategic Investments	3 Months Ended
	Mar. 31, 2019
Acquisitions and Strategic Investments [Abstract]
Acquisitions and Strategic Investments	Acquisitions and Strategic Investments

Restructuring, Impairment and T

Restructuring, Impairment and Transaction-Related Charges	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring, Impairment and Transaction-Related Charges	Restructuring, Impairment and Transaction-Related Charges The Company recorded restructuring, impairment and transaction-related charges for the three months ended March 31, 2019 and 2018 , as follows: Three Months Ended March 31, 2019 2018 Employee termination charges $ 4.3 $ 10.6 Impairment charges 1.7 7.9 Transaction-related charges 1.5 0.7 Integration costs 0.8 0.1 Other restructuring (income) charges (0.7 ) 5.6 Total $ 7.6 $ 24.9 The costs related to these activities have been recorded in the condensed consolidated statements of operations as restructuring, impairment and transaction-related charges. See Note 19 , “ Segment Information ,” for restructuring, impairment and transaction-related charges by segment. Restructuring Charges The Company began a restructuring program in 2010 related to eliminating excess manufacturing capacity and properly aligning its cost structure. The Company has announced a total of 43 plant closures since 2010 . The Company recorded the following charges as a result of plant closures and other restructuring programs: • Employee termination charges of $4.3 million and $10.6 million were recorded during the three months ended March 31, 2019 and 2018 , respectively. The Company reduced its workforce through facility consolidations and separation programs. • Integration costs of $0.8 million and $0.1 million were recorded during the three months ended March 31, 2019 and 2018 , respectively, primarily for the integration of acquired companies. • Other restructuring (income) charges are presented net of the gains on the sale of facilities, including a $3.5 million gain on the sale of the Hazleton, Pennsylvania facility during the three months ended March 31, 2019 , and a $2.2 million gain on the sale of the San Ixhuatepec, Mexico facility during the three months ended March 31, 2018 . The components of other restructuring (income) charges consisted of the following during the three months ended March 31, 2019 and 2018 : Three Months Ended March 31, 2019 2018 Vacant facility carrying costs and lease exit charges $ 1.3 $ 6.6 Equipment and infrastructure removal costs 0.1 0.8 Gains on the sale of facilities (3.5 ) (2.2 ) Other restructuring activities 1.4 0.4 Other restructuring (income) charges $ (0.7 ) $ 5.6 The restructuring charges recorded were based on plans that have been committed to by management and were, in part, based upon management’s best estimates of future events. Changes to the estimates may require future restructuring charges and adjustments to the restructuring liabilities. The Company expects to incur additional restructuring charges related to these and other initiatives. Impairment Charges The Company recognized impairment charges of $1.7 million during the three months ended March 31, 2019 , primarily for machinery and equipment no longer being utilized in production as a result of facility consolidations, as well as other capacity reduction restructuring activities. The Company recognized impairment charges of $7.9 million during the three months ended March 31, 2018 , which consisted of $2.4 million of land and building impairment charges and $5.5 million of impairment charges for machinery and equipment no longer being utilized in production as a result of facility consolidations, as well as other capacity reduction restructuring activities. The fair values of the impaired assets were determined by the Company to be Level 3 under the fair value hierarchy (see Note 12 , “ Financial Instruments and Fair Value Measurements ,” for the definition of Level 3 inputs) and were estimated based on internal discounted cash flow estimates, quoted market prices where available and independent appraisals, as appropriate. These assets were adjusted to their estimated fair values at the time of impairment. If estimated fair values subsequently decline, the carrying values of the assets are adjusted accordingly. Transaction-Related Charges The Company incurs transaction-related charges primarily consisting of professional service fees related to business acquisition and divestiture activities. Transaction-related charges of $1.5 million and $0.7 million were recorded during the three months ended March 31, 2019 and 2018 , respectively. The transaction-related charges were expensed as incurred in accordance with the applicable accounting guidance on business combinations. Restructuring Reserves Activity impacting the Company’s restructuring reserves for the three months ended March 31, 2019 , was as follows: Employee Termination Charges Impairment Charges Transaction-Related Charges Integration Costs Other Restructuring (Income) Charges Total Balance at December 31, 2018 $ 9.3 $ — $ 1.2 $ 0.2 $ 17.1 $ 27.8 Expense (income), net 4.3 1.7 1.5 0.8 (0.7 ) 7.6 Cash payments, net (3.9 ) — (1.1 ) (1.0 ) (0.6 ) (6.6 ) Non-cash adjustments/reclassifications (0.5 ) (1.7 ) 0.6 — (5.0 ) (6.6 ) Balance at March 31, 2019 $ 9.2 $ — $ 2.2 $ — $ 10.8 $ 22.2 The Company’s restructuring reserves at March 31, 2019 , included a short-term and a long-term component. The short-term portion included $19.5 million in accrued liabilities (see Note 13 , “ Accrued Liabilities and Other Long-Term Liabilities ”) and $2.5 million in accounts payable in the condensed consolidated balance sheets as the Company expects these reserves to be paid within the next twelve months. The long-term portion of $0.2 million is included in other long-term liabilities (see Note 13 , “ Accrued Liabilities and Other Long-Term Liabilities ”) in the condensed consolidated balance sheets. Included in the above table is a $2.0 million non-cash reclassification to transition lease liabilities previously accounted for under ASC 420 — Exit or Disposal Cost Obligations, to operating lease obligations, in accordance with the new guidance under Topic 842 . See Note 10 , “ Leases ,” for additional accounting policy and transition disclosures.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. Goodwill is assigned to specific reporting units and is tested annually for impairment as of October 31 or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is below its carrying value. The Company recorded $60.2 million of preliminary goodwill within the United States Print and Related Services segment related to the Periscope acquisition completed during the three months ended March 31, 2019 . The amount of preliminary goodwill is subject to the final determination of acquired working capital and completion of the final valuation of the net assets acquired. There was no other activity impacting goodwill for the three months ended March 31, 2019 . The accumulated goodwill impairment losses and the carrying value of goodwill at March 31, 2019 , and December 31, 2018 , were as follows: March 31, 2019 December 31, 2018 United States Print and Related Services International Total United States Print and Related Services International Total Goodwill $ 893.1 $ 30.0 $ 923.1 $ 832.9 $ 30.0 $ 862.9 Accumulated goodwill impairment loss (778.3 ) (30.0 ) (808.3 ) (778.3 ) (30.0 ) (808.3 ) Goodwill, net of accumulated goodwill impairment loss $ 114.8 $ — $ 114.8 $ 54.6 $ — $ 54.6 Other Intangible Assets The components of finite-lived intangible assets at March 31, 2019 , and December 31, 2018 , were as follows: March 31, 2019 December 31, 2018 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Gross Carrying Amount Accumulated Amortization Net Book Value Trademarks, patents, licenses and agreements 6 $ 68.9 $ (25.1 ) $ 43.8 7 $ 59.8 $ (22.4 ) $ 37.4 Capitalized software 5 15.4 (5.9 ) 9.5 5 15.3 (5.1 ) 10.2 Customer relationships 6 576.8 (457.5 ) 119.3 6 514.7 (449.7 ) 65.0 Total $ 661.1 $ (488.5 ) $ 172.6 $ 589.8 $ (477.2 ) $ 112.6 During the three months ended March 31, 2019 , the gross carrying amount of other intangible assets increased primarily due to $70.5 million of acquired identifiable finite-lived intangible assets as discussed in Note 3 , “ Acquisitions and Strategic Investments .” The gross carrying amount and accumulated amortization within other intangible assets—net in the condensed consolidated balance sheets at March 31, 2019 , and December 31, 2018 , differs from the value originally recorded at acquisition due to impairment charges recorded in prior years and the effects of currency fluctuations since the purchase date. Other intangible assets are evaluated for potential impairment whenever events or circumstances indicate that the carrying value may not be recoverable. There were no impairment charges recorded on finite-lived intangible assets for the three months ended March 31, 2019 and 2018 . Amortization expense for other intangible assets was $11.6 million and $5.8 million for the three months ended March 31, 2019 and 2018 , respectively. The estimated future amortization expense related to other intangible assets as of March 31, 2019 , was as follows: Amortization Expense Remainder of 2019 $ 33.4 2020 39.3 2021 31.0 2022 28.5 2023 24.2 2024 and thereafter 16.2 Total $ 172.6

Inventories

Inventories	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories at March 31, 2019 , and December 31, 2018 , were as follows: March 31, December 31, Raw materials and manufacturing supplies $ 162.2 $ 170.8 Work in process 47.5 48.9 Finished goods 73.3 80.9 Total $ 283.0 $ 300.6

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The components of property, plant and equipment at March 31, 2019 , and December 31, 2018 , were as follows: March 31, December 31, Land $ 112.9 $ 115.3 Buildings 884.6 908.5 Machinery and equipment 3,550.2 3,549.1 Other (1) 181.5 178.6 Construction in progress 48.5 42.0 Property, plant and equipment—gross $ 4,777.7 $ 4,793.5 Less: accumulated depreciation (3,541.8 ) (3,536.1 ) Property, plant and equipment—net $ 1,235.9 $ 1,257.4 ______________________________ (1) Other consists of computer equipment, vehicles, furniture and fixtures, leasehold improvements and communication-related equipment. The Company recorded impairment charges of $1.7 million and $7.9 million for the three months ended March 31, 2019 , and 2018 respectively, to reduce the carrying amounts of certain property, plant and equipment no longer utilized in production to fair value (see Note 4 , “ Restructuring, Impairment and Transaction-Related Charges ,” for further discussion on impairment charges). The Company recognized depreciation expense of $47.6 million and $50.4 million for the three months ended March 31, 2019 and 2018 , respectively. Assets Held for Sale The Company considered certain closed facilities for held for sale classification on the condensed consolidated balance sheets. The net book value of assets held for sale was $3.9 million as of March 31, 2019 , and there were no assets held for sale as of December 31, 2018 . These assets are carried at the lesser of original cost or fair value, less the estimated costs to sell. The fair values were determined by the Company to be Level 3 under the fair value hierarchy (see Note 12 , “ Financial Instruments and Fair Value Measurements ,” for the definition of Level 3 inputs) and were estimated based on internal discounted cash flow estimates, quoted market prices when available and independent appraisals as appropriate. Assets held for sale are included in prepaid expenses and other current assets in the condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is named as a defendant in various lawsuits in which claims are asserted against the Company in the normal course of business. The liabilities, if any, which ultimately result from such lawsuits are not expected by management to have a material impact on the condensed consolidated financial statements of the Company. In April 2016, the Company self-reported to the SEC and to the United States Department of Justice (“DOJ”) certain Foreign Corrupt Practices Act (“FCPA”) issues, and a resulting internal investigation, related to its operations managed from Peru. These operations had approximate annual sales ranging from $95.0 million to $135.0 million from the date that the Company acquired those operations in July 2010 until the date the issues were discovered. The self-reported issues were identified by the Company’s financial internal controls. The Company, under the oversight of its Audit Committee and Board of Directors, proactively initiated an investigation into this matter with the assistance of external legal counsel and external forensic accountants. Additional compliance issues arising out of the Peru subsidiary have been identified during the course of the investigation and are known to the SEC and DOJ. During the course of its internal investigation, the Company has also identified, and self-reported to the DOJ and SEC, transactions raising similar issues involving certain sales made in its Quad/Tech China operations. For the period 2011 through 2015, the approximate annual sales of these China operations ranged from $2.0 million to $3.0 million . During the course of its internal investigation, the Company has also identified and informed the Office of Foreign Assets Control (“OFAC”), the DOJ and the SEC, of certain transactions involving Cuba, and continues to investigate the propriety of such transactions under United States trade sanctions. The Peruvian antitrust authority (“INDECOPI”) currently is conducting an investigation into certain alleged past collusive activities among printers in Peru, including Quad/Graphics Peru. In connection with these matters, the Company has made, and continues to evaluate, certain enhancements to its compliance program. The Company is fully cooperating with the OFAC, the SEC, the DOJ and INDECOPI. At this time, the Company does not anticipate any material adverse effect on its business or financial condition as a result of these matters. Environmental Reserves The Company is subject to various laws, regulations and government policies relating to health and safety, to the generation, storage, transportation, and disposal of hazardous substances, and to environmental protection in general. The Company provides for expenses associated with environmental remediation obligations when such amounts are probable and can be reasonably estimated. Such reserves are adjusted as new information develops or as circumstances change. The environmental reserves are not discounted. The Company believes it is in compliance with such laws, regulations and government policies in all material respects. Furthermore, the Company does not anticipate that maintaining compliance with such environmental statutes will have a material impact upon the Company’s condensed consolidated financial position.

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt The components of long-term debt as of March 31, 2019 , and December 31, 2018 , were as follows: March 31, December 31, Master note and security agreement $ 94.4 $ 96.2 Term loan A 32.4 281.3 Term loan B 485.4 279.5 Revolving credit facility 250.7 — Senior unsecured notes 243.5 243.5 International term loans 19.8 17.8 International revolving credit facilities 10.2 11.8 Other 2.3 2.6 Debt issuance costs (11.8 ) (7.2 ) Total debt $ 1,126.9 $ 925.5 Less: short-term debt and current portion of long-term debt (52.4 ) (42.9 ) Long-term debt $ 1,074.5 $ 882.6 Fair Value of Debt Based upon the interest rates available to the Company for borrowings with similar terms and maturities, the fair value of the Company’s total debt was approximately $1.1 billion and $0.9 billion at March 31, 2019 , and December 31, 2018 , respectively. The fair value determination of the Company’s total debt was categorized as Level 2 in the fair value hierarchy (see Note 12 , “ Financial Instruments and Fair Value Measurements ,” for the definition of Level 2 inputs). 2019 Senior Secured Credit Facility Amendment The Company completed the third amendment to the April 28, 2014 Senior Secured Credit Facility on January 31, 2019 . This third amendment was completed to provide Quad with the liquidity and structural flexibility to consummate the proposed acquisition of LSC Communications, Inc. (“ LSC ”) and to extend existing maturities by (a) increasing the aggregate amount of the existing revolving credit facility from $725.0 million to $800.0 million in two tranches, with the first tranche of approximately $82.8 million maturing on January 4, 2021 , and the second tranche of approximately $717.2 million , with a term of five years, maturing on January 31, 2024 ; (b) increasing the aggregate amount of the existing Term Loan A from $375.0 million to $825.0 million in two tranches, with the first tranche of approximately $32.4 million maturing on January 4, 2021 , and the second tranche of approximately $792.6 million , with a delayed draw feature and term of five years, maturing on January 31, 2024 ; and (c) increasing the aggregate amount of the existing Term Loan B from $300.0 million to $500.0 million with a term of seven years, maturing on January 31, 2026 . The Company intends that the loans available under the amended revolving credit facility will be used to repay, refinance, repurchase, redeem, exchange or otherwise terminate LSC ’s existing indebtedness prior to, in connection with or following the consummation of the merger, and to pay transaction expenses. Certain amendments were made to the quarterly financial covenants to which the Company is subject (all financial terms, numbers and ratios are as defined in the Senior Secured Credit Facility, as amended by the third amendment). Borrowings under the revolving credit facility and delayed draw Term Loan A made under the Senior Secured Credit Facility will initially bear interest at 2.50% in excess of reserve adjusted London Interbank Offered Rate (“ LIBOR ”), or 1.50% in excess of an alternate base rate, and borrowing under the Term Loan B will initially bear interest at 5.00% in excess of reserve adjusted LIBOR, or 4.00% in excess of an alternative base rate at the Company’s option. The Senior Secured Credit Facility remains secured by substantially all of the unencumbered assets of the Company. The Senior Secured Credit Facility also requires the Company to provide additional collateral to the lenders in certain limited circumstances. The Company incurred $20.2 million in debt issuance costs in conjunction with the third amendment to the Company’s Senior Secured Credit Facility. In accordance with the accounting guidance for the treatment of debt issuance costs in a debt extinguishment, of the $20.2 million in new debt issuance costs, $6.0 million was classified as a reduction of long-term debt in the condensed consolidated balance sheets and $14.2 million was expensed and was classified as loss on debt extinguishment in the condensed consolidated statements of operations during the three months ended March 31, 2019 . In addition, a new original issue discount of $15.0 million related to the Term Loan B of the Senior Secured Credit Facility was classified as a reduction of long-term debt in the condensed consolidated balance sheets. Debt Issuance Costs and Original Issue Discount Activity impacting the Company’s debt issuance costs for the three months ended March 31, 2019 , was as follows: Capitalized Debt Balance at December 31, 2018 $ 7.2 Debt issuance costs from January 31, 2019 debt financing arrangement 6.0 Loss on debt extinguishment from February 10, 2017 debt financing arrangement (0.7 ) Amortization of debt issuance costs (0.7 ) Balance at March 31, 2019 $ 11.8 Activity impacting the Company’s original issue discount for the three months ended March 31, 2019 , was as follows: Original Issue Discount Balance at December 31, 2018 $ 1.0 Original issue discount from January 31, 2019 debt financing arrangement 15.0 Loss on debt extinguishment from February 10, 2017 debt financing arrangement (1.0 ) Amortization of original issue discount (0.4 ) Balance at March 31, 2019 $ 14.6 2019 Loss on Debt Extinguishment The loss on debt extinguishment recorded during the three months ended March 31, 2019 , was comprised of the following: Loss on Debt Extinguishment Debt issuance costs: Debt issuance costs from February 10, 2017 debt financing arrangement $ 0.7 Debt issuance costs from January 31, 2019 debt financing arrangement 14.2 Original issue discount: Original issue discount from February 10, 2017 debt financing arrangement 1.0 Total $ 15.9 Covenants and Compliance The Company’s various lending arrangements include certain financial covenants (all financial terms, numbers and ratios are as defined in the Company’s debt agreements). Among these covenants, the Company was required to maintain the following as of March 31, 2019 : • Total Leverage Ratio. On a rolling twelve-month basis, the total leverage ratio, defined as total consolidated debt to consolidated EBITDA, shall not exceed 3.75 to 1.00 (for the twelve months ended March 31, 2019 , the Company’s total leverage ratio was 2.90 to 1.00). • Liquidity. The Company is required to maintain liquidity, defined as unrestricted cash and permitted investments of the Company and its subsidiaries (subject to certain conditions) plus the aggregate amount of the unused revolving credit facility commitments, of not less than $300.0 million at any time during the period from six months prior to the maturity date of the Company’s unsecured 7.0% senior notes maturing on May 1, 2022 , (the “ Senior Unsecured Notes ”) until the earlier of the date on which (a) such Senior Unsecured Notes are repaid in full or (b) the maturity date of such Senior Unsecured Notes is extended to a date that is at least 91 days later than the latest maturity date under the Senior Secured Credit Facility. As of March 31, 2019 , the liquidity covenant is not applicable, as the Company is not within the six month period prior to the May 1, 2022, maturity date of the Senior Unsecured Notes. • If there is any amount outstanding on the Revolving Credit Facility or Term Loan A, or if any lender has any revolving credit exposure or Term Loan A credit exposure, the Company is required to maintain the following: ◦ Senior Secured Leverage Ratio. On a rolling twelve-month basis, the senior secured leverage ratio, defined as senior secured net debt to consolidated EBITDA, shall not exceed 3.50 to 1.00 (for the twelve months ended March 31, 2019 , the Company’s senior secured leverage ratio was 2.26 to 1.00). ◦ Interest Coverage Ratio. On a rolling twelve-month basis, the interest coverage ratio, defined as consolidated EBITDA to consolidated cash interest expense, shall not be less than 3.00 to 1.00 (for the twelve months ended March 31, 2019 , the Company’s interest coverage ratio was 5.38 to 1.00). The indenture underlying the Company’s $300.0 million aggregate principal amount of Senior Unsecured Notes contains various covenants, including, but not limited to, covenants that, subject to certain exceptions, limit the Company’s and its restricted subsidiaries’ ability to incur and/or guarantee additional debt; pay dividends, repurchase stock or make certain other restricted payments; enter into agreements limiting dividends and certain other restricted payments; prepay, redeem or repurchase subordinated debt; grant liens on assets; enter into sale and leaseback transactions; merge, consolidate, transfer or dispose of substantially all of the Company’s consolidated assets; sell, transfer or otherwise dispose of property and assets; and engage in transactions with affiliates. In addition to those covenants, the Senior Secured Credit Facility also includes certain limitations on acquisitions, indebtedness, liens, dividends and repurchases of capital stock, including the following: • If the Company’s total leverage ratio is greater than 2.75 to 1.00 (as defined in the Senior Secured Credit Facility), the Company is prohibited from making greater than $120.0 million of annual dividend payments, capital stock repurchases and certain other payments. If the total leverage ratio is less than 2.75 to 1.00, there are no such restrictions. As the Company’s total leverage ratio as of March 31, 2019 , was 2.90 to 1.00, the limitations described above are currently applicable. • If the Company’s senior secured leverage ratio is greater than 3.00 to 1.00 or the Company’s total leverage ratio is greater than 3.50 to 1.00 (these ratios as defined in the Senior Secured Credit Facility), the Company is prohibited from voluntarily prepaying any of the Senior Unsecured Notes and from voluntarily prepaying any other unsecured or subordinated indebtedness, with certain exceptions (including any mandatory prepayments on the Senior Unsecured Notes or any other unsecured or subordinated debt). If the senior secured leverage ratio is less than 3.00 to 1.00 and the total leverage ratio is less than 3.50 to 1.00, there are no such restrictions.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at contract inception. The Company recognizes a right-of-use (“ROU”) asset and a lease liability at the lease commencement date. For operating and finance leases, the lease liability is initially measured at the present value of the unpaid lease payments at the lease commencement date, and is subsequently measured at amortized cost using the effective interest method. Key estimates and judgments include how the Company determines (1) the discount rate, (2) lease term and (3) lease payments. • Topic 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Company cannot determine the implicit interest rate as it does not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, the Company generally uses its incremental borrowing rate as the discount rate for the lease. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms based on the published United States Treasury rates as well as the Company’s credit rating at implementation or at the lease inception date. • The lease term for all of the Company’s leases includes the noncancelable period of the lease, plus or minus any additional periods covered by an option to extend or terminate the lease that the Company is reasonably certain to exercise. • Lease payments included in the lease liability are comprised of fixed payments as well as any exercise price of a Company option to purchase the underlying asset if the Company is reasonably certain to exercise. The Company’s leases do not contain variable lease payments. ROU assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For Operating leases, the ROU asset is subsequently amortized by the straight-line lease expense adjusted by the lease liability accretion over the lease term. For finance leases, the ROU asset is subsequently amortized on a straight-line basis from the lease commencement date to the earlier of the end of its useful life or the end of the lease term. Amortization of the ROU asset is recognized and presented separately from interest expense on the lease liability. The Company’s ROU assets for both operating and finance leases are reviewed for impairment losses on a quarterly basis in line with ASC 360-10 — Property, Plant, and Equipment — Overall. The Company has not recognized any impairment losses to date. The Company also monitors its leases for events or changes in circumstances that require a reassessment of the lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the ROU asset. Operating leases are included in operating lease right-of-use assets, other current liabilities, and operating lease liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, net, current portion of finance lease obligations, and finance lease obligations in our condensed consolidated balance sheets. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases that have an original lease term of 12 months or less. Therefore, the Company recognizes the lease payments associated with these short-term leases as an expense over the lease term on the consolidated statement of operations. Adoption of Topic 842 — Transition Approach The Company adopted Topic 842 as of January 1, 2019 using the additional optional transition method pursuant to ASU 2018-11, meaning that restatement of prior period consolidated financial statements or presentation of comparative disclosures is not necessary. During adoption, the Company elected the following practical expedients allowed: • The Company elected the practical expedient package and therefore did not reassess for any existing leases: ◦ whether contracts are or contain leases; ◦ the lease classification for any existing leases; and ◦ any initial direct costs. • The Company elected the practical expedient related to land easements, allowing to carry forward the accounting treatment for land easements on existing agreements. • The Company used “hindsight” judgments that impact the lease term. • The Company elected to combine lease and non-lease components into one lease component for select underlying lease asset categories. Real estate leases are accounted for separately while all other leases, primarily equipment, leases with separate lease and non-lease components are accounted for as a single lease component. Adoption of the new standard resulted in the recording of operating lease right-of-use assets and operating lease obligations of $130.8 million and $132.4 million , respectively, as of January 1, 2019. The transition had no impact to the condensed consolidated statement of operations. Leases Financial Information The Company enters into various lease agreements for real estate, such as office space and manufacturing facilities, as well as equipment leases, including press, finishing and transportation equipment. Many of these leases provide the Company with options to renew, terminate, or in the case of equipment leases, purchase the related equipment at the termination value, as defined, and at various early buyout dates during the term of the lease. In general, the Company has determined these options were not reasonably certain to be exercised, and therefore are not included in the determination of the lease term. The following summarizes certain lease information for the three months ended , March 31, 2019 : Three Months Ended March 31, 2019 Lease cost Finance lease cost: Amortization of right-of-use assets $ 1.4 Interest on lease liabilities 0.2 Operating lease cost 10.9 Short-term lease cost 0.1 Sublease income (0.6 ) Total lease cost $ 12.0 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ — Operating cash flows from operating leases 11.3 Financing cash flows from finance leases 1.6 Right-of-use assets obtained in exchange for new finance lease liabilities 1.1 Right-of-use assets obtained in exchange for new operating lease liabilities 6.0 Weighted-average remaining lease term — finance leases 3.1 years Weighted-average remaining lease term — operating leases 5.4 years Weighted-average discount rate — finance leases 6.5 % Weighted-average discount rate — operating leases 6.7 % Future maturities of lease liabilities at March 31, 2019 were as follows: Future Maturities of Operating Leases Future Maturities of Finance Leases Remainder of 2019 $ 32.9 $ 4.5 2020 36.0 5.1 2021 24.7 4.4 2022 18.2 2.0 2023 14.0 0.2 2024 and thereafter 31.9 — Total minimum payments 157.7 16.2 Less: present value discount (26.9 ) (1.3 ) Lease liability $ 130.8 $ 14.9 The following tables summarize certain lease information for the year ended December 31, 2018, prior to the implementation of Topic 842 . The components of finance lease assets at December 31, 2018, were as follows: 2018 Leased equipment—gross $ 33.4 Less: accumulated depreciation (18.9 ) Leased equipment—net $ 14.5 The future maturities of finance leases at December 31, 2018, were as follows: Future Maturities of Finance Leases 2019 $ 5.9 2020 4.9 2021 4.1 2022 2.0 2023 0.2 2024 and thereafter — Total minimum payments 17.1 Less: amounts representing interest (1.7 ) Present value of minimum payments 15.4 Less: current portion (5.1 ) Long-term finance lease obligations $ 10.3 The Company has various operating lease agreements. Future minimum rental commitments under non-cancelable leases at December 31, 2018, were as follows: Future Minimum Rental Commitments 2019 $ 38.2 2020 33.4 2021 23.9 2022 17.8 2023 13.7 2024 and thereafter 31.1 Total $ 158.1

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company records income tax (benefit) expense on an interim basis. The estimated effective income tax rate is adjusted quarterly, and items discrete to a specific quarter are reflected in income tax (benefit) expense for that interim period. The effective income tax rate for the interim period can differ from the statutory tax rate, as it reflects discrete items, such as changes in the liability for unrecognized tax benefits related to the establishment and settlement of income tax exposures and benefits related to share-based compensation. The Company’s liability for unrecognized tax benefits as of March 31, 2019 , was $14.3 million . The Company anticipates a $4.6 million decrease to its liability for unrecognized tax benefits within the next twelve months due to the resolution of income tax audits or statute expirations.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements Certain assets and liabilities are required to be recorded at fair value on a recurring basis, while other assets and liabilities are recorded at fair value on a nonrecurring basis, generally as a result of acquisitions or impairment charges. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. GAAP also classifies the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3: Unobservable inputs for the asset or liability. There were no Level 3 recurring measurements of assets or liabilities as of March 31, 2019 . Interest Rate Swaps The Company currently holds two interest rate swap contracts designated as cash flow hedges, as the purpose is to reduce the variability of cash flows from interest payments related to a portion of Quad’s variable-rate debt. The swaps effectively convert the notional value of the Company’s variable rate debt based on one-month LIBOR to a fixed rate, including a spread on underlying debt, and a monthly reset in the variable interest rate. The key terms of the interest rate swaps are as follows: March 19, 2019 Interest Rate Swap February 7, 2017 Interest Rate Swap Effective date March 29, 2019 February 28, 2017 Termination date March 28, 2024 February 28, 2022 Term 5 years 5 years Notional amount $130.0 $250.0 Fixed swap rate 2.43% 1.89% The Company classifies the interest rate swaps as Level 2 because the inputs into the valuation model are observable or can be derived or corroborated utilizing observable market data at commonly quoted intervals. The fair value of the interest rate swaps classified as Level 2 as of March 31, 2019 , and December 31, 2018 , were as follows: Balance Sheet Location March 31, December 31, Interest rate swap assets Prepaid expenses and other current assets $ 2.1 $ 4.3 Interest rate swap liabilities Other long-term liabilities $ (1.5 ) $ — The interest rate swaps were highly effective as of March 31, 2019 . No amount of ineffectiveness has been recorded into earnings related to these cash flow hedges. The cash flows associated with the interest rate swaps have been recognized as an adjustment to interest expense (income) in the condensed consolidated statements of operations, and the changes in the fair value of the interest rate swaps have been included in other comprehensive income (loss) in the condensed consolidated statements of comprehensive income: Three Months Ended March 31, 2019 2018 Net interest paid (received) $ (0.4 ) $ 0.2 Gain (loss) recognized in other comprehensive income (loss) $ (3.7 ) $ 3.7 Foreign Exchange Contracts The Company has operations in countries that have transactions outside their functional currencies and periodically enters into foreign exchange contracts. These contracts are used to hedge the net exposures of changes in foreign currency exchange rates and are designated as either cash flow hedges or fair value hedges. Gains or losses on net foreign currency hedges are intended to offset losses or gains on the underlying net exposures in an effort to reduce the earnings volatility resulting from fluctuating foreign currency exchange rates. There were no open foreign currency exchange contracts as of March 31, 2019 . Natural Gas Forward Contracts The Company periodically enters into natural gas forward purchase contracts to hedge against increases in commodity costs. The Company’s commodity contracts qualified for the exception related to normal purchases and sales during the three months ended March 31, 2019 and 2018 , as the Company takes delivery in the normal course of business. Debt The Company measures fair value on its debt instruments using interest rates available to the Company for borrowings with similar terms and maturities and is categorized as Level 2. See Note 9 , “ Debt ,” for the fair value of the Company’s debt as of March 31, 2019 . Nonrecurring Fair Value Measurements In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record certain assets and liabilities at fair value on a nonrecurring basis, generally as a result of acquisitions or the remeasurement of assets resulting in impairment charges. See Note 3 , “ Acquisitions and Strategic Investments ,” for further discussion on acquisitions. See Note 4 , “ Restructuring, Impairment and Transaction-Related Charges ” and Note 7 , “ Property, Plant and Equipment ” for further discussion on impairment charges recorded as a result of the remeasurement of certain long-lived assets. Other Estimated Fair Value Measurements The Company records the fair value of its forward contracts and pension plan assets on a recurring basis. The fair value of cash and cash equivalents, receivables, inventories, accounts payable and accrued liabilities approximate their carrying values as of March 31, 2019 , and December 31, 2018 .

Accrued Liabilities and Other L

Accrued Liabilities and Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Accrued Liabilities and Other Long-Term Liabilities	Accrued Liabilities and Other Long-Term Liabilities The components of accrued and other long-term liabilities as of March 31, 2019 , and December 31, 2018 , were as follows: March 31, 2019 December 31, 2018 Accrued Liabilities Other Long-Term Liabilities Total Accrued Liabilities Other Long-Term Liabilities Total Employee-related liabilities (1) $ 95.0 $ 62.7 $ 157.7 $ 126.4 $ 62.8 $ 189.2 Single employer pension plan obligations 1.7 79.2 80.9 1.7 80.9 82.6 Multiemployer pension plans – withdrawal liability 8.5 40.7 49.2 8.4 42.5 50.9 Tax-related liabilities 30.5 7.8 38.3 29.6 8.1 37.7 Restructuring liabilities 19.5 0.2 19.7 23.1 2.9 26.0 Interest and rent liabilities 11.3 0.5 11.8 6.0 1.4 7.4 Other 81.3 32.6 113.9 97.1 34.0 131.1 Total $ 247.8 $ 223.7 $ 471.5 $ 292.3 $ 232.6 $ 524.9 ______________________________ (1) Employee-related liabilities consist primarily of payroll, bonus, vacation, health and workers’ compensation.

Employee Retirement Plans

Employee Retirement Plans	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Employee Retirement Plans	Employee Retirement Plans Defined Contribution Plans The Quad/Graphics, Inc. Employee Stock Ownership Plan (“ ESOP ”) holds profit sharing contributions of Company stock, which are made at the discretion of the Company’s Board of Directors. The Company made a non-cash contribution of 1,006,061 shares of Company class A common stock at a stock price of $22.18 per share for a total value of $22.3 million to the ESOP during the three months ended March 31, 2018 . There were no profit sharing contributions during the three months ended March 31, 2019 . Pension Plans The Company assumed various funded and unfunded frozen pension plans for a portion of its full-time employees in the United States as part of the acquisition of World Color Press Inc. (“ World Color Press ”) in 2010. Benefits are generally based upon years of service and compensation. These plans are funded in conformity with the applicable government regulations. The Company funds at least the minimum amount required for all qualified plans using actuarial cost methods and assumptions acceptable under government regulations. The components of net pension income for the three months ended March 31, 2019 and 2018 , were as follows: Three Months Ended March 31, 2019 2018 Interest cost $ (4.4 ) $ (4.0 ) Expected return on plan assets 5.9 7.1 Net pension income $ 1.5 $ 3.1 The Company made $0.3 million in benefit payments to its non-qualified defined benefit pension plans and made no contributions to its qualified defined benefit pension plans during the three months ended March 31, 2019 . Multiemployer Pension Plans (“MEPPs”) The Company has withdrawn from all significant MEPPs and replaced these union sponsored “promise to pay in the future” defined benefit plans with a Company sponsored “pay as you go” defined contribution plan. The two MEPPs, the Graphic Communications International Union – Employer Retirement Fund (“GCIU”) and the Graphic Communications Conference of the International Brotherhood of Teamsters National Pension Fund (“GCC”), are significantly underfunded, and require the Company to pay a withdrawal liability to fund its pro rata share of the underfunding as of the plan year the full withdrawal was completed. As a result of the decision to withdraw, the Company accrued a withdrawal liability based on information provided by each plan’s trustee. The Company has reserved $49.2 million for the total MEPPs withdrawal liability as of March 31, 2019 , of which $40.7 million was recorded in other long-term liabilities and $8.5 million was recorded in accrued liabilities in the condensed consolidated balance sheets. The Company is scheduled to make payments to the GCIU and GCC until April 2032 and February 2024, respectively. The Company made payments totaling $2.6 million and $3.9 million for the three months ended March 31, 2019 and 2018 , respectively.

Earnings (Loss) Per Share Attri

Earnings (Loss) Per Share Attributable to Quad/Graphics Common Shareholders	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Loss Per Share Attributable to Quad Common Shareholders Basic earnings (loss) per share attributable to Quad common shareholders is computed as net earnings (loss) attributable to Quad common shareholders divided by the basic weighted average common shares outstanding. The calculation of diluted earnings (loss) per share attributable to Quad common shareholders includes the effect of any dilutive equity incentive instruments. The Company uses the treasury stock method to calculate the effect of outstanding dilutive equity incentive instruments, which requires the Company to compute total proceeds as the sum of the amount the employee must pay upon exercise of the award and the amount of unearned stock-based compensation costs attributable to future services. Equity incentive instruments for which the total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net earnings, and accordingly, the Company excludes them from the calculation. Due to the net loss incurred during the three months ended March 31, 2019 and 2018 , the assumed exercise of all equity incentive instruments was anti-dilutive and therefore, not included in the diluted loss per share calculation for that period. Reconciliations of the numerator and the denominator of the basic and diluted per share computations for the Company’s common stock, for the three months ended March 31, 2019 and 2018 , are summarized as follows: Three Months Ended March 31, 2019 2018 Numerator Net loss attributable to Quad common shareholders $ (22.5 ) $ (3.5 ) Denominator Basic weighted average number of common shares outstanding for all classes of common shares 49.6 50.1 Plus: effect of dilutive equity incentive instruments — — Diluted weighted average number of common shares outstanding for all classes of common shares 49.6 50.1 Loss per share attributable to Quad common shareholders Basic and diluted $ (0.45 ) $ (0.07 ) Cash dividends paid per common share for all classes of common shares $ 0.30 $ 0.30

Equity Incentive Programs

Equity Incentive Programs	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Incentive Programs	Equity Incentive Programs The shareholders of the Company approved the Quad/Graphics, Inc. 2010 Omnibus Incentive Plan (“Omnibus Plan”) for two complementary purposes: (1) to attract and retain outstanding individuals to serve as directors, officers and employees; and (2) to increase shareholder value. The Omnibus Plan provides for an aggregate 10,871,652 shares of class A common stock reserved for issuance under the Omnibus Plan. Awards under the Omnibus Plan may consist of incentive awards, stock options, stock appreciation rights, performance shares, performance share units, shares of class A common stock, restricted stock (“RS”), restricted stock units (“RSU”), deferred stock units (“DSU”) or other stock-based awards as determined by the Company’s Board of Directors. Each stock option granted has an exercise price of no less than 100% of the fair market value of the class A common stock on the date of grant. The Board of Directors is seeking approval from the Company’s shareholders at the annual meeting of shareholders to be held in May 2019 of an amendment to the Omnibus Plan to increase the number of shares of class A common stock authorized for issuance under the 2010 Plan by 1,800,000 shares, which would leave 1,606,490 shares available for issuance under the Omnibus Plan as of March 31, 2019 . Authorized unissued shares or treasury shares may be used for issuance under the Company’s equity incentive programs. The Company plans to either use treasury shares of its class A common stock or issue shares of class A common stock to meet the stock requirements of its awards in the future. The Company recognizes compensation expense based on estimated grant date fair values for all share-based awards issued to employees and non-employee directors, including stock options, performance shares, performance share units, RS awards, RSU awards and DSU awards. The Company recognizes these compensation costs for only those awards expected to vest, on a straight-line basis over the requisite three to four year service period of the awards, except deferred stock units, which are fully vested and expensed on the grant date. The Company estimated the number of awards expected to vest based, in part, on historical forfeiture rates and also based on management’s expectations of employee turnover within the specific employee groups receiving each type of award. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods, if actual forfeitures differ from those estimates. Equity Incentive Compensation Expense The total compensation expense recognized related to all equity incentive programs was $5.0 million and $5.4 million for the three months ended March 31, 2019 and 2018 , respectively, and was recorded primarily in selling, general and administrative expenses in the condensed consolidated statements of operations. Total future compensation expense related to all equity incentive programs granted as of March 31, 2019 , was estimated to be $26.3 million , which consists entirely of expense for RS and RSU awards. Estimated future compensation expense is $10.5 million for the remainder of 2019 , $9.8 million for 2020 , $5.3 million for 2021 and $0.7 million for 2022 . Stock Options Options vest over four years , with no vesting in the first year and one-third vesting upon the second, third and fourth anniversary dates. As defined in the individual grant agreements, acceleration of vesting may occur under a change in control, death, disability or normal retirement of the grantee. Options expire no later than the tenth anniversary of the grant date, 24 months after termination for death, 36 months after termination for normal retirement or disability and 90 days after termination of employment for any other reason. Options are not credited with dividend declarations, except for the November 18, 2011 grants. Stock options are only to be granted to employees. There were no stock options granted, and no compensation expense was recognized related to stock options for the three months ended March 31, 2019 and 2018 . There is no future compensation expense for stock options as of March 31, 2019 . The following table is a summary of the stock option activity for the three months ended March 31, 2019 : Shares Under Option Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (millions) Outstanding at December 31, 2018 942,315 $ 24.31 1.8 $ — Granted — — Exercised — — Canceled/forfeited/expired (144,900 ) 18.27 Outstanding and exercisable at March 31, 2019 797,415 $ 25.41 1.8 $ — The intrinsic value of options outstanding and exercisable at March 31, 2019 , and December 31, 2018 , was based on the fair value of the stock price. All outstanding options are vested as of March 31, 2019 . The following table is a summary of the stock option exercise activity for the three months ended March 31, 2019 and 2018 : Three Months Ended March 31, 2019 2018 Total intrinsic value of stock options exercised $ — $ 3.6 Proceeds from stock options exercised — 4.0 Restricted Stock and Restricted Stock Units Restricted stock and restricted stock unit awards consist of shares or the rights to shares of the Company’s class A common stock which are awarded to employees of the Company. The awards are restricted such that they are subject to substantial risk of forfeiture and to restrictions on their sale or other transfer by the employee. RSU awards are typically granted to eligible employees outside of the United States. As defined in the individual grant agreements, acceleration of vesting may occur under a change in control, death, disability or normal retirement of the grantee. Grantees receiving RS awards are able to exercise full voting rights and receive full credit for dividends during the vesting period. All such dividends will be paid to the RS grantee within 45 days of full vesting. Grantees receiving RSU awards are not entitled to vote, but do earn dividends. Upon vesting, RSU awards will be settled either through cash payment equal to the fair market value of the RSU awards on the vesting date or through issuance of the Company’s class A common stock. The following table is a summary of RS and RSU award activity for the three months ended March 31, 2019 : Restricted Stock Restricted Stock Units Shares Weighted- Average Grant Date Fair Value Per Share Weighted- Average Remaining Contractual Term (years) Units Weighted- Average Grant Date Fair Value Per Share Weighted- Average Remaining Contractual Term (years) Nonvested at December 31, 2018 2,335,916 $ 17.36 1.0 107,092 $ 16.70 0.8 Granted (1) 1,500,434 12.32 186,807 12.33 Vested (1,118,071 ) 9.46 (57,500 ) 9.30 Forfeited (963 ) 26.88 (963 ) 26.88 Nonvested at March 31, 2019 2,717,316 $ 17.83 2.3 235,436 $ 15.00 2.6 ______________________________ (1) Includes 1,238,757 RS awards and 49,923 RSU awards granted that are contingent upon shareholder approval at the annual meeting of shareholders to be held in May 2019. In the first quarter of 2019, the Company issued RSU awards in connection with the acquisition of Periscope that are accounted for as a liability and will vest on March 1, 2022. The awards were recorded at fair value on the initial issuance date and are adjusted to fair value at each reporting period, with the change in fair value being recorded in selling, general and administrative expense in the condensed consolidated statements of operations. As of March 31, 2019 , the fair value of the RSU awards classified as a liability was $1.6 million and was included in other long-term liabilities on the condensed consolidated balance sheets. In general, RS and RSU awards will vest on the third anniversary of the grant date, provided the holder of the share is continuously employed by the Company until the vesting date. Compensation expense recognized for RS and RSU awards was $4.1 million and $4.5 million for the three months ended March 31, 2019 and 2018 , respectively. Deferred Stock Units Deferred stock units are awards of rights to shares of the Company’s class A common stock and are awarded to non-employee directors of the Company. The following table is a summary of DSU award activity for the three months ended March 31, 2019 : Deferred Stock Units Units Weighted-Average Grant Date Fair Value Per Share Outstanding at December 31, 2018 236,561 $ 19.40 Granted (1) 72,464 12.32 Dividend equivalents granted (2) 7,572 12.22 Settled (30,676 ) 22.53 Outstanding at March 31, 2019 285,921 $ 17.08 ______________________________ (1) Includes 72,464 DSU awards granted that are contingent upon shareholder approval at the annual meeting of shareholders to be held in May 2019. (2) Includes 1,776 dividend equivalents granted that are contingent upon shareholder approval at the annual meeting of shareholders to be held in May 2019. Each DSU award entitles the grantee to receive one share of class A common stock upon the earlier of the separation date of the grantee or the second anniversary of the grant date, but could be subject to acceleration for a change in control, death or disability as defined in the individual DSU grant agreement. Grantees of DSU awards may not exercise voting rights, but are credited with dividend equivalents, and those dividend equivalents will be converted into additional DSU awards based on the closing price of the class A common stock. Compensation expense recognized for DSU awards was $0.9 million during the three months ended March 31, 2019 and 2018 . As DSU awards are fully vested on the grant date, all compensation expense was recognized at the date of grant.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity The Company has three classes of common stock as follows (share data in millions): Issued Common Stock Authorized Shares Outstanding Treasury Total Issued Shares Class A stock ($0.025 par value) 80.0 March 31, 2019 39.3 1.0 40.3 December 31, 2018 38.1 2.2 40.3 Class B stock ($0.025 par value) 80.0 March 31, 2019 13.5 — 13.5 December 31, 2018 13.5 — 13.5 Class C stock ($0.025 par value) 20.0 March 31, 2019 — 0.5 0.5 December 31, 2018 — 0.5 0.5 In accordance with the Articles of Incorporation, each class A common share has one vote per share and each class B and class C common share has ten votes per share on all matters voted upon by the Company’s shareholders. Liquidation rights are the same for all three classes of common stock. The Company also has 0.5 million shares of $0.01 par value preferred stock authorized, of which none were issued at March 31, 2019 , and December 31, 2018 . The Company has no present plans to issue any preferred stock. On September 6, 2011 , the Company’s Board of Directors authorized a share repurchase program of up to $100.0 million of the Company’s outstanding class A common stock. On July 30, 2018 , the Company’s Board of Directors discontinued the remainder of the September 6, 2011 share repurchase program and authorized a new share repurchase program of up to $100.0 million of the Company’s outstanding class A common stock. There were no shares repurchased during the three months ended March 31, 2019 . As of March 31, 2019 , there were $100.0 million of authorized repurchases remaining under the program. On February 16, 2018 , the Company’s Board of Directors authorized the issuance of 1,006,061 shares of Company class A common stock from treasury to the Company’s ESOP, at a stock price of $22.18 per share for a total value of $22.3 million . In March 2018, 284,845 shares of class B common stock were converted to class A common stock, and the class B common shares were canceled and returned to the status of authorized but unissued shares. In accordance with the Articles of Incorporation, dividends are paid equally for all three classes of common shares. The dividend activity related to the then outstanding shares for the three months ended March 31, 2019 and 2018 , was as follows: Declaration Date Record Date Payment Date Dividend Amount per Share 2019 Q1 Dividend February 19, 2019 February 25, 2019 March 8, 2019 $ 0.30 2018 Q1 Dividend February 21, 2018 March 19, 2018 March 30, 2018 $ 0.30

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss by component, net of tax, for the three months ended March 31, 2019 , were as follows: Translation Adjustments Interest Rate Swap Adjustments Pension Benefit Plan Adjustments Total Balance at January 1, 2019 $ (130.0 ) $ 3.3 $ (25.5 ) $ (152.2 ) Other comprehensive loss before reclassifications (0.3 ) (2.8 ) — (3.1 ) Amounts reclassified from accumulated other comprehensive loss to net loss — — — — Net other comprehensive loss (0.3 ) (2.8 ) — (3.1 ) Balance at March 31, 2019 $ (130.3 ) $ 0.5 $ (25.5 ) $ (155.3 ) The changes in accumulated other comprehensive loss by component, net of tax, for the three months ended March 31, 2018 , were as follows: Translation Adjustments Interest Rate Swap Adjustments Pension Benefit Plan Adjustments Total Balance at January 1, 2018 $ (117.0 ) $ 1.6 $ (11.9 ) $ (127.3 ) Other comprehensive income before reclassifications 5.6 2.9 — 8.5 Amounts reclassified from accumulated other comprehensive loss to net loss — — — — Net other comprehensive income 5.6 2.9 — 8.5 Balance at March 31, 2018 $ (111.4 ) $ 4.5 $ (11.9 ) $ (118.8 )

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information As a worldwide marketing solutions partner dedicated to creating a better way, Quad uses its data-driven, integrated marketing solutions platform to help clients reduce complexity, increase efficiency and enhance marketing spend effectiveness. The Company’s operating and reportable segments are aligned with how the chief operating decision maker of the Company currently manages the business. The Company’s operating and reportable segments, including their product and service offerings, and a “Corporate” category are as follows: • United States Print and Related Services • International • Corporate United States Print and Related Services The United States Print and Related Services segment is predominantly comprised of the Company’s United States printing operations and is managed as one integrated platform. This includes retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products and global paper procurement, together with marketing and other complementary services, including consumer insights, audience targeting, personalization, media planning and placement, process optimization, campaign planning and creation, pre-media production, videography, photography, digital execution, print execution and logistics. This segment also includes the manufacture of ink. International The International segment consists of the Company’s printing operations in Europe and Latin America, including operations in England, France, Germany, Poland, Argentina, Colombia, Mexico and Peru, as well as investments in printing operations in Brazil and India. This segment provides printed products and marketing and other complementary services consistent with the United States Print and Related Services segment. Unrestricted subsidiaries as defined in the Company’s Senior Unsecured Notes indenture represent less than 2.0% of total consolidated assets as of March 31, 2019 , and less than 2.0% of total consolidated net sales for the three months ended March 31, 2019 . Corporate Corporate consists of unallocated general and administrative activities and associated expenses including, in part, executive, legal and finance, as well as certain expenses and income from frozen employee retirement plans, such as pension benefit plans. The following is a summary of segment information for the three months ended March 31, 2019 and 2018 : Net Sales Operating Income (Loss) Restructuring, Impairment and Transaction- Related Charges Products Services Three months ended March 31, 2019 United States Print and Related Services $ 703.3 $ 195.4 $ 15.8 $ 4.5 International 101.8 4.2 1.9 1.6 Total operating segments 805.1 199.6 17.7 6.1 Corporate — — (14.8 ) 1.5 Total $ 805.1 $ 199.6 $ 2.9 $ 7.6 Three months ended March 31, 2018 United States Print and Related Services $ 706.6 $ 161.2 $ 20.3 $ 20.4 International 94.5 5.2 5.7 1.0 Total operating segments 801.1 166.4 26.0 21.4 Corporate — — (18.9 ) 3.5 Total $ 801.1 $ 166.4 $ 7.1 $ 24.9 Restructuring, impairment and transaction-related charges for the three months ended March 31, 2019 and 2018 , are further described in Note 4 , “ Restructuring, Impairment and Transaction-Related Charges ,” and are included in the operating income (loss) results by segment above. A reconciliation of operating income to loss before income taxes and equity in loss (earnings) of unconsolidated entity as reported in the condensed consolidated statements of operations for the three months ended March 31, 2019 and 2018 , was as follows: Three Months Ended March 31, 2019 2018 Operating income $ 2.9 $ 7.1 Less: interest expense 21.8 17.3 Less: net pension income (1.5 ) (3.1 ) Less: loss on debt extinguishment 15.9 — Loss before income taxes and equity in loss (earnings) of unconsolidated entity $ (33.3 ) $ (7.1 )

Separate Financial Information

Separate Financial Information of Subsidiary Guarantors of Indebtedness	3 Months Ended
	Mar. 31, 2019
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Separate Financial Information of Subsidiary Guarantors of Indebtedness	Separate Financial Information of Subsidiary Guarantors of Indebtedness On April 28, 2014 , Quad completed an offering of the Senior Unsecured Notes (see Note 9 , “ Debt ,” for further details on the Senior Unsecured Notes ). Each of the Company’s Guarantor Subsidiaries fully and unconditionally guarantee or, in the case of future subsidiaries, will guarantee, on a joint and several basis, the Senior Unsecured Notes . All of the current Guarantor Subsidiaries are 100% owned by the Company. Guarantor Subsidiaries will be automatically released from these guarantees upon the occurrence of certain events, including the following: • the designation of any of the Guarantor Subsidiaries as an unrestricted subsidiary; • the release or discharge of any guarantee or indebtedness that resulted in the creation of the guarantee of the Senior Unsecured Notes by any of the Guarantor Subsidiaries; or • the sale or disposition, including the sale of substantially all the assets, of any of the Guarantor Subsidiaries. The following condensed consolidating financial information reflects the summarized financial information of Quad, the Company’s Guarantor Subsidiaries on a combined basis and the Company’s non-guarantor subsidiaries on a combined basis. Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net sales $ 397.7 $ 584.2 $ 126.9 $ (104.1 ) $ 1,004.7 Cost of sales 324.0 511.5 102.9 (101.3 ) 837.1 Selling, general and administrative expenses 61.4 26.5 12.8 (2.8 ) 97.9 Depreciation and amortization 23.1 29.2 6.9 — 59.2 Restructuring, impairment and transaction-related charges 1.7 4.0 1.9 — 7.6 Total operating expenses 410.2 571.2 124.5 (104.1 ) 1,001.8 Operating income (loss) $ (12.5 ) $ 13.0 $ 2.4 $ — $ 2.9 Interest expense (income) 20.3 0.2 1.3 — 21.8 Net pension income — (1.5 ) — — (1.5 ) Loss (gain) on debt extinguishment 15.9 — — — 15.9 Earnings (loss) before income taxes and equity in (earnings) loss of consolidated and unconsolidated entities (48.7 ) 14.3 1.1 — (33.3 ) Income tax expense (benefit) (16.6 ) 5.3 0.7 — (10.6 ) Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities (32.1 ) 9.0 0.4 — (22.7 ) Equity in (earnings) loss of consolidated entities (9.6 ) (1.4 ) — 11.0 — Equity in (earnings) loss of unconsolidated entity — — 0.1 — 0.1 Net earnings (loss) (22.5 ) 10.4 0.3 (11.0 ) (22.8 ) Less: net earnings (loss) attributable to noncontrolling interests — — (0.3 ) — (0.3 ) Net earnings (loss) attributable to Quad common shareholders $ (22.5 ) $ 10.4 $ 0.6 $ (11.0 ) $ (22.5 ) Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net earnings (loss) $ (22.5 ) $ 10.4 $ 0.3 $ (11.0 ) $ (22.8 ) Other comprehensive income (loss), net of tax (3.1 ) (0.8 ) (0.5 ) 1.3 (3.1 ) Total comprehensive income (loss) (25.6 ) 9.6 (0.2 ) (9.7 ) (25.9 ) Less: comprehensive earnings (loss) attributable to noncontrolling interests — — (0.3 ) — (0.3 ) Comprehensive income (loss) attributable to Quad common shareholders $ (25.6 ) $ 9.6 $ 0.1 $ (9.7 ) $ (25.6 ) Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net sales $ 410.7 $ 546.4 $ 111.7 $ (101.3 ) $ 967.5 Cost of sales 331.5 472.3 87.5 (98.9 ) 792.4 Selling, general and administrative expenses 53.8 25.1 10.4 (2.4 ) 86.9 Depreciation and amortization 25.1 25.3 5.8 — 56.2 Restructuring, impairment and transaction-related charges 18.0 6.1 0.8 — 24.9 Total operating expenses 428.4 528.8 104.5 (101.3 ) 960.4 Operating income (loss) $ (17.7 ) $ 17.6 $ 7.2 $ — $ 7.1 Interest expense (income) 15.7 0.9 0.7 — 17.3 Net pension income — (3.1 ) — — (3.1 ) Earnings (loss) before income taxes and equity in (earnings) loss of consolidated and unconsolidated entities (33.4 ) 19.8 6.5 — (7.1 ) Income tax expense (benefit) (8.5 ) 4.4 0.8 — (3.3 ) Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities (24.9 ) 15.4 5.7 — (3.8 ) Equity in (earnings) loss of consolidated entities (21.4 ) (1.5 ) — 22.9 — Equity in (earnings) loss of unconsolidated entity — — (0.3 ) — (0.3 ) Net earnings (loss) (3.5 ) 16.9 6.0 (22.9 ) (3.5 ) Less: net earnings (loss) attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Quad common shareholders $ (3.5 ) $ 16.9 $ 6.0 $ (22.9 ) $ (3.5 ) Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net earnings (loss) $ (3.5 ) $ 16.9 $ 6.0 $ (22.9 ) $ (3.5 ) Other comprehensive income (loss), net of tax 8.5 (0.5 ) 3.9 (3.4 ) 8.5 Total comprehensive income (loss) 5.0 16.4 9.9 (26.3 ) 5.0 Less: comprehensive earnings (loss) attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to Quad common shareholders $ 5.0 $ 16.4 $ 9.9 $ (26.3 ) $ 5.0 Condensed Consolidating Balance Sheet As of March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total ASSETS Cash and cash equivalents $ 2.8 $ 3.9 $ 3.7 $ — $ 10.4 Receivables, less allowances for doubtful accounts 357.9 69.3 85.1 — 512.3 Intercompany receivables — 100.0 25.7 (125.7 ) — Inventories 105.6 124.3 53.1 — 283.0 Other current assets 30.9 9.8 9.5 — 50.2 Total current assets 497.2 307.3 177.1 (125.7 ) 855.9 Property, plant and equipment—net 641.5 441.0 153.4 — 1,235.9 Investment in consolidated entities 891.8 18.1 — (909.9 ) — Goodwill and intangible assets—net 2.2 233.0 52.2 — 287.4 Intercompany loan receivable 68.8 — — (68.8 ) — Other long-term assets 68.2 101.0 54.8 — 224.0 Total assets $ 2,169.7 $ 1,100.4 $ 437.5 $ (1,104.4 ) $ 2,603.2 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable $ 233.0 $ 108.7 $ 77.6 $ — $ 419.3 Intercompany accounts payable 125.7 — — (125.7 ) — Short-term debt and current portion of long-term debt and lease obligations 44.7 27.2 19.2 — 91.1 Other current liabilities 141.9 65.0 40.9 — 247.8 Total current liabilities 545.3 200.9 137.7 (125.7 ) 758.2 Long-term debt and lease obligations 1,079.2 78.7 23.6 — 1,181.5 Intercompany loan payable — — 68.8 (68.8 ) — Other long-term liabilities 125.3 110.8 7.5 — 243.6 Total liabilities 1,749.8 390.4 237.6 (194.5 ) 2,183.3 Total shareholders’ equity and noncontrolling interests 419.9 710.0 199.9 (909.9 ) 419.9 Total liabilities and shareholders’ equity $ 2,169.7 $ 1,100.4 $ 437.5 $ (1,104.4 ) $ 2,603.2 Condensed Consolidating Balance Sheet As of December 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total ASSETS Cash and cash equivalents $ 60.3 $ 2.9 $ 6.3 $ — $ 69.5 Receivables, less allowances for doubtful accounts 378.0 63.3 87.4 — 528.7 Intercompany receivables — 153.9 28.8 (182.7 ) — Inventories 108.6 121.0 71.0 — 300.6 Other current assets 34.3 4.3 9.2 — 47.8 Total current assets 581.2 345.4 202.7 (182.7 ) 946.6 Property, plant and equipment—net 647.7 451.6 158.1 — 1,257.4 Investment in consolidated entities 757.0 16.7 — (773.7 ) — Goodwill and intangible assets—net 1.7 111.3 54.2 — 167.2 Intercompany loan receivable 109.7 — — (109.7 ) — Other long-term assets 42.5 10.4 45.0 — 97.9 Total assets $ 2,139.8 $ 935.4 $ 460.0 $ (1,066.1 ) $ 2,469.1 LIABILITIES AND SHAREHOLDERS ’ EQUITY Accounts payable $ 265.5 $ 137.8 $ 107.7 $ — $ 511.0 Intercompany accounts payable 182.7 — — (182.7 ) — Short-term debt and current portion of long-term debt and finance lease obligations 29.7 0.7 17.6 — 48.0 Other current liabilities 182.6 64.7 45.0 — 292.3 Total current liabilities 660.5 203.2 170.3 (182.7 ) 851.3 Long-term debt and finance lease obligations 878.8 1.0 13.1 — 892.9 Intercompany loan payable — 42.0 67.7 (109.7 ) — Other long-term liabilities 140.3 115.4 9.0 — 264.7 Total liabilities 1,679.6 361.6 260.1 (292.4 ) 2,008.9 Total shareholders’ equity and noncontrolling interests 460.2 573.8 199.9 (773.7 ) 460.2 Total liabilities and shareholders’ equity $ 2,139.8 $ 935.4 $ 460.0 $ (1,066.1 ) $ 2,469.1 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total OPERATING ACTIVITIES Net cash from (used in) operating activities $ 23.9 $ (79.7 ) $ (2.8 ) $ — $ (58.6 ) INVESTING ACTIVITIES Purchases of property, plant and equipment (18.4 ) (22.1 ) (4.8 ) — (45.3 ) Acquisition related investing activities — (120.7 ) (0.3 ) — (121.0 ) Intercompany investing activities (169.8 ) 10.4 (0.1 ) 159.5 — Other investing activities 3.6 4.2 0.3 — 8.1 Net cash from (used in) investing activities (184.6 ) (128.2 ) (4.9 ) 159.5 (158.2 ) FINANCING ACTIVITIES Proceeds from issuance of long-term debt 485.0 — 5.4 — 490.4 Payments of long-term debt and finance lease obligations (532.5 ) (0.4 ) (3.0 ) — (535.9 ) Borrowings on revolving credit facilities 1,230.5 — 8.8 — 1,239.3 Payments on revolving credit facilities (979.8 ) — (10.3 ) — (990.1 ) Payment of cash dividends (19.2 ) — — — (19.2 ) Intercompany financing activities (54.0 ) 209.3 4.2 (159.5 ) — Other financing activities (26.8 ) — — — (26.8 ) Net cash from (used in) financing activities 103.2 208.9 5.1 (159.5 ) 157.7 Effect of exchange rates on cash and cash equivalents — — — — — Net increase (decrease) in cash and cash equivalents (57.5 ) 1.0 (2.6 ) — (59.1 ) Cash and cash equivalents at beginning of period 60.3 2.9 6.3 — 69.5 Cash and cash equivalents at end of period $ 2.8 $ 3.9 $ 3.7 $ — $ 10.4 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total OPERATING ACTIVITIES Net cash from (used in) operating activities $ 26.4 $ (27.8 ) $ 3.6 $ — $ 2.2 INVESTING ACTIVITIES Purchases of property, plant and equipment (4.1 ) (12.2 ) (7.9 ) — (24.2 ) Acquisition related investing activities — (78.8 ) 4.9 — (73.9 ) Intercompany investing activities (139.4 ) 14.5 (0.1 ) 125.0 — Other investing activities 13.5 0.2 4.0 — 17.7 Net cash from (used in) investing activities (130.0 ) (76.3 ) 0.9 125.0 (80.4 ) FINANCING ACTIVITIES Payments of long-term debt and finance lease obligations (4.0 ) (0.4 ) (2.2 ) — (6.6 ) Borrowings on revolving credit facilities 238.6 — 6.9 — 245.5 Payments on revolving credit facilities (168.6 ) — (5.4 ) — (174.0 ) Payment of cash dividends (17.2 ) — — — (17.2 ) Intercompany financing activities 11.8 105.2 8.0 (125.0 ) — Other financing activities (3.5 ) — — — (3.5 ) Net cash from (used in) financing activities 57.1 104.8 7.3 (125.0 ) 44.2 Effect of exchange rates on cash and cash equivalents — — (0.2 ) — (0.2 ) Net increase (decrease) in cash and cash equivalents (46.5 ) 0.7 11.6 — (34.2 ) Cash and cash equivalents at beginning of period 51.7 2.0 10.7 — 64.4 Cash and cash equivalents at end of period $ 5.2 $ 2.7 $ 22.3 $ — $ 30.2

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2018-15 “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. Entities are allowed to apply either a retrospective or prospective transition approach to adopt the guidance. The Company is evaluating the impact of the adoption of ASU 2018-15 on the condensed consolidated financial statements. In August 2018, the FASB issued Accounting Standards Update 2018-14 “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans” (“ASU 2018-14”), which adds, removes and clarifies year-end disclosure requirements related to defined benefit pension and other postretirement plans. This guidance is effective for annual periods ending after December 15, 2020, with early adoption permitted. This new guidance will require a retrospective adoption approach. The Company is evaluating the impact of the adoption of ASU 2018-14 on the notes to the condensed consolidated financial statements. In August 2018, the FASB issued Accounting Standards Update 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”), which changes the requirements on fair value measurements by removing, modifying or adding certain disclosures. This guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. Entities electing to early adopt are permitted to early adopt the eliminated or modified disclosure requirements and delay the adoption of all the new disclosure requirements until their effective date. The adoption of ASU 2018-13 requires the application of a combination of the prospective and retrospective methods of transition, depending on the topic of disclosure. The Company is evaluating the impact of the adoption of ASU 2018-13 on the notes to the condensed consolidated financial statements. In June 2016, the FASB issued Accounting Standards Update 2016-13 “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which changes the impairment model for most financial assets and certain other instruments. Under the new guidance, entities will be required to measure expected credit losses for financial instruments, including trade receivables, based on historical experience, current conditions and reasonable forecasts. This guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted for interim and annual periods beginning after December 15, 2018. This new guidance will require a modified retrospective transition approach, where the entity will need to apply a cumulative-effect adjustment to retained earnings (accumulated deficit) as of the beginning of the first reporting period in which the guidance is adopted. The Company is evaluating the impact of the adoption of ASU 2016-13 on the condensed consolidated financial statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Acquisition of LSC Communications, Inc. As previously disclosed, on October 30, 2018 , the Company and LSC entered into a definitive agreement, pursuant to which Quad will acquire LSC in an all-stock transaction valued at approximately $1.3 billion , including the refinancing of LSC’s debt and assumption of other obligations. The acquisition is subject to customary closing conditions including regulatory approval. On December 13, 2018, Quad and LSC each received a request for additional information and documentary material (the “Second Request”) from the DOJ in connection with the DOJ’s review of the transactions contemplated by the definitive agreement. The Hart-Scott-Rodino Act (“HSR Act”) provides that the issuance of the Second Request extends the waiting period under the HSR Act until either 30 days after both Quad and LSC have substantially complied with the Second Request or such later time as agreed to by the parties with the DOJ, unless the waiting period is terminated earlier by the DOJ. The Company’s Registration Statement on Form S-4, including as a part thereof the joint proxy statement/prospectus of Quad and LSC, was effective on February 4, 2019. At the special meeting of shareholders on February 22, 2019, approximately 99.7% of the votes cast by the holders of the Company’s class A and class B common stock were voted in favor of the issuance of shares of Quad class A common stock in connection with the acquisition of LSC. In addition, LSC separately announced that its stockholders voted to adopt the agreement and plan of merger pursuant to which the Company will acquire LSC. If the acquisition is consummated, LSC’s stockholders will be entitled to receive, for each issued and outstanding share of LSC common stock owned immediately prior to the effective time of the acquisition, 0.625 shares of Quad class A common stock. Quad and LSC cannot consummate the acquisition unless, among other things, the expiration of the waiting period under the HSR Act and other required regulatory approvals, and the satisfaction or waiver of the other closing conditions specified in the agreement, have been completed. Quad continues to expect the acquisition to be consummated in mid-2019. Declaration of Quarterly Dividend On April 30, 2019 , the Company declared a quarterly dividend of $0.30 per share, which will be paid on June 7, 2019 , to shareholders of record as of May 20, 2019 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair Value Measurement	Certain assets and liabilities are required to be recorded at fair value on a recurring basis, while other assets and liabilities are recorded at fair value on a nonrecurring basis, generally as a result of acquisitions or impairment charges. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. GAAP also classifies the inputs used to measure fair value into the following hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3: Unobservable inputs for the asset or liability. There were no Level 3 recurring measurements of assets or liabilities as of March 31, 2019 .
Earnings Per Share	The calculation of diluted earnings (loss) per share attributable to Quad common shareholders includes the effect of any dilutive equity incentive instruments. The Company uses the treasury stock method to calculate the effect of outstanding dilutive equity incentive instruments, which requires the Company to compute total proceeds as the sum of the amount the employee must pay upon exercise of the award and the amount of unearned stock-based compensation costs attributable to future services. Equity incentive instruments for which the total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net earnings, and accordingly, the Company excludes them from the calculation.
Share-based Compensation, Option and Incentive Plans	The Company recognizes compensation expense based on estimated grant date fair values for all share-based awards issued to employees and non-employee directors, including stock options, performance shares, performance share units, RS awards, RSU awards and DSU awards. The Company recognizes these compensation costs for only those awards expected to vest, on a straight-line basis over the requisite three to four year service period of the awards, except deferred stock units, which are fully vested and expensed on the grant date. The Company estimated the number of awards expected to vest based, in part, on historical forfeiture rates and also based on management’s expectations of employee turnover within the specific employee groups receiving each type of award. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods, if actual forfeitures differ from those estimates.
New Accounting Pronouncements	In June 2016, the FASB issued Accounting Standards Update 2016-13 “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which changes the impairment model for most financial assets and certain other instruments. Under the new guidance, entities will be required to measure expected credit losses for financial instruments, including trade receivables, based on historical experience, current conditions and reasonable forecasts. This guidance is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted for interim and annual periods beginning after December 15, 2018. This new guidance will require a modified retrospective transition approach, where the entity will need to apply a cumulative-effect adjustment to retained earnings (accumulated deficit) as of the beginning of the first reporting period in which the guidance is adopted. The Company is evaluating the impact of the adoption of ASU 2016-13 on the condensed consolidated financial statements.
Leases	The Company enters into various lease agreements for real estate, such as office space and manufacturing facilities, as well as equipment leases, including press, finishing and transportation equipment. Many of these leases provide the Company with options to renew, terminate, or in the case of equipment leases, purchase the related equipment at the termination value, as defined, and at various early buyout dates during the term of the lease. In general, the Company has determined these options were not reasonably certain to be exercised, and therefore are not included in the determination of the lease term. The Company determines if an arrangement is or contains a lease at contract inception. The Company recognizes a right-of-use (“ROU”) asset and a lease liability at the lease commencement date. For operating and finance leases, the lease liability is initially measured at the present value of the unpaid lease payments at the lease commencement date, and is subsequently measured at amortized cost using the effective interest method. Key estimates and judgments include how the Company determines (1) the discount rate, (2) lease term and (3) lease payments. • Topic 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Company cannot determine the implicit interest rate as it does not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, the Company generally uses its incremental borrowing rate as the discount rate for the lease. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms based on the published United States Treasury rates as well as the Company’s credit rating at implementation or at the lease inception date. • The lease term for all of the Company’s leases includes the noncancelable period of the lease, plus or minus any additional periods covered by an option to extend or terminate the lease that the Company is reasonably certain to exercise. • Lease payments included in the lease liability are comprised of fixed payments as well as any exercise price of a Company option to purchase the underlying asset if the Company is reasonably certain to exercise. The Company’s leases do not contain variable lease payments. ROU assets are initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. For Operating leases, the ROU asset is subsequently amortized by the straight-line lease expense adjusted by the lease liability accretion over the lease term. For finance leases, the ROU asset is subsequently amortized on a straight-line basis from the lease commencement date to the earlier of the end of its useful life or the end of the lease term. Amortization of the ROU asset is recognized and presented separately from interest expense on the lease liability. The Company’s ROU assets for both operating and finance leases are reviewed for impairment losses on a quarterly basis in line with ASC 360-10 — Property, Plant, and Equipment — Overall. The Company has not recognized any impairment losses to date. The Company also monitors its leases for events or changes in circumstances that require a reassessment of the lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the ROU asset. Operating leases are included in operating lease right-of-use assets, other current liabilities, and operating lease liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, net, current portion of finance lease obligations, and finance lease obligations in our condensed consolidated balance sheets. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases that have an original lease term of 12 months or less. Therefore, the Company recognizes the lease payments associated with these short-term leases as an expense over the lease term on the consolidated statement of operations.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	United States Print International Total Three months ended March 31, 2019 Catalog, publications, retail inserts, and directories $ 485.7 $ 71.3 $ 557.0 Direct mail, books and other printed products 211.1 30.4 241.5 Other 6.5 0.1 6.6 Total Products 703.3 101.8 805.1 Logistics services 100.3 4.1 104.4 Imaging, marketing services and other services 95.1 0.1 95.2 Total Services 195.4 4.2 199.6 Total Net Sales $ 898.7 $ 106.0 $ 1,004.7 Three months ended March 31, 2018 Catalog, publications, retail inserts, and directories $ 510.1 $ 76.5 $ 586.6 Direct mail, books and other printed products 189.7 17.9 207.6 Other 6.8 0.1 6.9 Total Products 706.6 94.5 801.1 Logistics services 97.8 5.2 103.0 Imaging, marketing services and other services 63.4 — 63.4 Total Services 161.2 5.2 166.4 Total Net Sales $ 867.8 $ 99.7 $ 967.5
Costs to Obtain Contracts with Customers	Activity impacting costs to obtain contracts for the three months ended March 31, 2019 , was as follows: Costs to Obtain Contracts Balance at January 1, 2019 $ 21.7 Costs to obtain contracts 1.7 Amortization of costs to obtain contracts (2.4 ) Balance at March 31, 2019 $ 21.0

Restructuring, Impairment and_2

Restructuring, Impairment and Transaction-Related Charges (Tables)	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring, Impairment and Transaction-Related Charges	The components of other restructuring (income) charges consisted of the following during the three months ended March 31, 2019 and 2018 : Three Months Ended March 31, 2019 2018 Vacant facility carrying costs and lease exit charges $ 1.3 $ 6.6 Equipment and infrastructure removal costs 0.1 0.8 Gains on the sale of facilities (3.5 ) (2.2 ) Other restructuring activities 1.4 0.4 Other restructuring (income) charges $ (0.7 ) $ 5.6 The Company recorded restructuring, impairment and transaction-related charges for the three months ended March 31, 2019 and 2018 , as follows: Three Months Ended March 31, 2019 2018 Employee termination charges $ 4.3 $ 10.6 Impairment charges 1.7 7.9 Transaction-related charges 1.5 0.7 Integration costs 0.8 0.1 Other restructuring (income) charges (0.7 ) 5.6 Total $ 7.6 $ 24.9
Activity Impacting Reserves for Restructuring, Impairment and Transaction-Related Charges	Activity impacting the Company’s restructuring reserves for the three months ended March 31, 2019 , was as follows: Employee Termination Charges Impairment Charges Transaction-Related Charges Integration Costs Other Restructuring (Income) Charges Total Balance at December 31, 2018 $ 9.3 $ — $ 1.2 $ 0.2 $ 17.1 $ 27.8 Expense (income), net 4.3 1.7 1.5 0.8 (0.7 ) 7.6 Cash payments, net (3.9 ) — (1.1 ) (1.0 ) (0.6 ) (6.6 ) Non-cash adjustments/reclassifications (0.5 ) (1.7 ) 0.6 — (5.0 ) (6.6 ) Balance at March 31, 2019 $ 9.2 $ — $ 2.2 $ — $ 10.8 $ 22.2

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	ctivity impacting goodwill for the three months ended March 31, 2019 .
Schedule of Accumulated Goodwill Impairment	The accumulated goodwill impairment losses and the carrying value of goodwill at March 31, 2019 , and December 31, 2018 , were as follows: March 31, 2019 December 31, 2018 United States Print and Related Services International Total United States Print and Related Services International Total Goodwill $ 893.1 $ 30.0 $ 923.1 $ 832.9 $ 30.0 $ 862.9 Accumulated goodwill impairment loss (778.3 ) (30.0 ) (808.3 ) (778.3 ) (30.0 ) (808.3 ) Goodwill, net of accumulated goodwill impairment loss $ 114.8 $ — $ 114.8 $ 54.6 $ — $ 54.6
Schedule of Intangible Assets	The components of finite-lived intangible assets at March 31, 2019 , and December 31, 2018 , were as follows: March 31, 2019 December 31, 2018 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted Gross Carrying Amount Accumulated Amortization Net Book Value Trademarks, patents, licenses and agreements 6 $ 68.9 $ (25.1 ) $ 43.8 7 $ 59.8 $ (22.4 ) $ 37.4 Capitalized software 5 15.4 (5.9 ) 9.5 5 15.3 (5.1 ) 10.2 Customer relationships 6 576.8 (457.5 ) 119.3 6 514.7 (449.7 ) 65.0 Total $ 661.1 $ (488.5 ) $ 172.6 $ 589.8 $ (477.2 ) $ 112.6
Schedule of Estimated Future Amortization Expense Related to Intangible Assets	The estimated future amortization expense related to other intangible assets as of March 31, 2019 , was as follows: Amortization Expense Remainder of 2019 $ 33.4 2020 39.3 2021 31.0 2022 28.5 2023 24.2 2024 and thereafter 16.2 Total $ 172.6

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	The components of inventories at March 31, 2019 , and December 31, 2018 , were as follows: March 31, December 31, Raw materials and manufacturing supplies $ 162.2 $ 170.8 Work in process 47.5 48.9 Finished goods 73.3 80.9 Total $ 283.0 $ 300.6

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	The components of property, plant and equipment at March 31, 2019 , and December 31, 2018 , were as follows: March 31, December 31, Land $ 112.9 $ 115.3 Buildings 884.6 908.5 Machinery and equipment 3,550.2 3,549.1 Other (1) 181.5 178.6 Construction in progress 48.5 42.0 Property, plant and equipment—gross $ 4,777.7 $ 4,793.5 Less: accumulated depreciation (3,541.8 ) (3,536.1 ) Property, plant and equipment—net $ 1,235.9 $ 1,257.4 ______________________________ (1) Other consists of computer equipment, vehicles, furniture and fixtures, leasehold improvements and communication-related equipment.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule Components of Long-Term Debt	The components of long-term debt as of March 31, 2019 , and December 31, 2018 , were as follows: March 31, December 31, Master note and security agreement $ 94.4 $ 96.2 Term loan A 32.4 281.3 Term loan B 485.4 279.5 Revolving credit facility 250.7 — Senior unsecured notes 243.5 243.5 International term loans 19.8 17.8 International revolving credit facilities 10.2 11.8 Other 2.3 2.6 Debt issuance costs (11.8 ) (7.2 ) Total debt $ 1,126.9 $ 925.5 Less: short-term debt and current portion of long-term debt (52.4 ) (42.9 ) Long-term debt $ 1,074.5 $ 882.6
Schedule of Debt Issuance Costs	Activity impacting the Company’s debt issuance costs for the three months ended March 31, 2019 , was as follows: Capitalized Debt Balance at December 31, 2018 $ 7.2 Debt issuance costs from January 31, 2019 debt financing arrangement 6.0 Loss on debt extinguishment from February 10, 2017 debt financing arrangement (0.7 ) Amortization of debt issuance costs (0.7 ) Balance at March 31, 2019 $ 11.8
Schedule of Original Issue Discount	Activity impacting the Company’s original issue discount for the three months ended March 31, 2019 , was as follows: Original Issue Discount Balance at December 31, 2018 $ 1.0 Original issue discount from January 31, 2019 debt financing arrangement 15.0 Loss on debt extinguishment from February 10, 2017 debt financing arrangement (1.0 ) Amortization of original issue discount (0.4 ) Balance at March 31, 2019 $ 14.6
Schedule of Loss on Debt Extinguishment	The loss on debt extinguishment recorded during the three months ended March 31, 2019 , was comprised of the following: Loss on Debt Extinguishment Debt issuance costs: Debt issuance costs from February 10, 2017 debt financing arrangement $ 0.7 Debt issuance costs from January 31, 2019 debt financing arrangement 14.2 Original issue discount: Original issue discount from February 10, 2017 debt financing arrangement 1.0 Total $ 15.9
Schedule of Gain on Debt Extinguishment	The loss on debt extinguishment recorded during the three months ended March 31, 2019 , was comprised of the following: Loss on Debt Extinguishment Debt issuance costs: Debt issuance costs from February 10, 2017 debt financing arrangement $ 0.7 Debt issuance costs from January 31, 2019 debt financing arrangement 14.2 Original issue discount: Original issue discount from February 10, 2017 debt financing arrangement 1.0 Total $ 15.9

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease Information	The following summarizes certain lease information for the three months ended , March 31, 2019 : Three Months Ended March 31, 2019 Lease cost Finance lease cost: Amortization of right-of-use assets $ 1.4 Interest on lease liabilities 0.2 Operating lease cost 10.9 Short-term lease cost 0.1 Sublease income (0.6 ) Total lease cost $ 12.0 Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ — Operating cash flows from operating leases 11.3 Financing cash flows from finance leases 1.6 Right-of-use assets obtained in exchange for new finance lease liabilities 1.1 Right-of-use assets obtained in exchange for new operating lease liabilities 6.0 Weighted-average remaining lease term — finance leases 3.1 years Weighted-average remaining lease term — operating leases 5.4 years Weighted-average discount rate — finance leases 6.5 % Weighted-average discount rate — operating leases 6.7 % The components of finance lease assets at December 31, 2018, were as follows: 2018 Leased equipment—gross $ 33.4 Less: accumulated depreciation (18.9 ) Leased equipment—net $ 14.5
Future Maturities of Leases, Operating	Future maturities of lease liabilities at March 31, 2019 were as follows: Future Maturities of Operating Leases Future Maturities of Finance Leases Remainder of 2019 $ 32.9 $ 4.5 2020 36.0 5.1 2021 24.7 4.4 2022 18.2 2.0 2023 14.0 0.2 2024 and thereafter 31.9 — Total minimum payments 157.7 16.2 Less: present value discount (26.9 ) (1.3 ) Lease liability $ 130.8 $ 14.9
Future Maturities of Leases, Finance Leases	Future maturities of lease liabilities at March 31, 2019 were as follows: Future Maturities of Operating Leases Future Maturities of Finance Leases Remainder of 2019 $ 32.9 $ 4.5 2020 36.0 5.1 2021 24.7 4.4 2022 18.2 2.0 2023 14.0 0.2 2024 and thereafter 31.9 — Total minimum payments 157.7 16.2 Less: present value discount (26.9 ) (1.3 ) Lease liability $ 130.8 $ 14.9
Maturities of Leases Prior to Adoption of ASC842	The future maturities of finance leases at December 31, 2018, were as follows: Future Maturities of Finance Leases 2019 $ 5.9 2020 4.9 2021 4.1 2022 2.0 2023 0.2 2024 and thereafter — Total minimum payments 17.1 Less: amounts representing interest (1.7 ) Present value of minimum payments 15.4 Less: current portion (5.1 ) Long-term finance lease obligations $ 10.3 The Company has various operating lease agreements. Future minimum rental commitments under non-cancelable leases at December 31, 2018, were as follows: Future Minimum Rental Commitments 2019 $ 38.2 2020 33.4 2021 23.9 2022 17.8 2023 13.7 2024 and thereafter 31.1 Total $ 158.1

Accrued Liabilities and Other_2

Accrued Liabilities and Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of Components of Other Long-Term Liabilities	The components of accrued and other long-term liabilities as of March 31, 2019 , and December 31, 2018 , were as follows: March 31, 2019 December 31, 2018 Accrued Liabilities Other Long-Term Liabilities Total Accrued Liabilities Other Long-Term Liabilities Total Employee-related liabilities (1) $ 95.0 $ 62.7 $ 157.7 $ 126.4 $ 62.8 $ 189.2 Single employer pension plan obligations 1.7 79.2 80.9 1.7 80.9 82.6 Multiemployer pension plans – withdrawal liability 8.5 40.7 49.2 8.4 42.5 50.9 Tax-related liabilities 30.5 7.8 38.3 29.6 8.1 37.7 Restructuring liabilities 19.5 0.2 19.7 23.1 2.9 26.0 Interest and rent liabilities 11.3 0.5 11.8 6.0 1.4 7.4 Other 81.3 32.6 113.9 97.1 34.0 131.1 Total $ 247.8 $ 223.7 $ 471.5 $ 292.3 $ 232.6 $ 524.9 ______________________________ (1) Employee-related liabilities consist primarily of payroll, bonus, vacation, health and workers’ compensation.

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Components of Net Pension Income	The components of net pension income for the three months ended March 31, 2019 and 2018 , were as follows: Three Months Ended March 31, 2019 2018 Interest cost $ (4.4 ) $ (4.0 ) Expected return on plan assets 5.9 7.1 Net pension income $ 1.5 $ 3.1

Earnings (Loss) Per Share Att_2

Earnings (Loss) Per Share Attributable to Quad/Graphics Common Shareholders (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Reconciliations of the numerator and the denominator of the basic and diluted per share computations for the Company’s common stock, for the three months ended March 31, 2019 and 2018 , are summarized as follows: Three Months Ended March 31, 2019 2018 Numerator Net loss attributable to Quad common shareholders $ (22.5 ) $ (3.5 ) Denominator Basic weighted average number of common shares outstanding for all classes of common shares 49.6 50.1 Plus: effect of dilutive equity incentive instruments — — Diluted weighted average number of common shares outstanding for all classes of common shares 49.6 50.1 Loss per share attributable to Quad common shareholders Basic and diluted $ (0.45 ) $ (0.07 ) Cash dividends paid per common share for all classes of common shares $ 0.30 $ 0.30

Equity Incentive Programs (Tabl

Equity Incentive Programs (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	The following table is a summary of the stock option activity for the three months ended March 31, 2019 : Shares Under Option Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (millions) Outstanding at December 31, 2018 942,315 $ 24.31 1.8 $ — Granted — — Exercised — — Canceled/forfeited/expired (144,900 ) 18.27 Outstanding and exercisable at March 31, 2019 797,415 $ 25.41 1.8 $ —
Summary of Stock Option Exercises and Vesting Activity	The following table is a summary of the stock option exercise activity for the three months ended March 31, 2019 and 2018 : Three Months Ended March 31, 2019 2018 Total intrinsic value of stock options exercised $ — $ 3.6 Proceeds from stock options exercised — 4.0
Summary of RS and RSU Award Activity	The following table is a summary of RS and RSU award activity for the three months ended March 31, 2019 : Restricted Stock Restricted Stock Units Shares Weighted- Average Grant Date Fair Value Per Share Weighted- Average Remaining Contractual Term (years) Units Weighted- Average Grant Date Fair Value Per Share Weighted- Average Remaining Contractual Term (years) Nonvested at December 31, 2018 2,335,916 $ 17.36 1.0 107,092 $ 16.70 0.8 Granted (1) 1,500,434 12.32 186,807 12.33 Vested (1,118,071 ) 9.46 (57,500 ) 9.30 Forfeited (963 ) 26.88 (963 ) 26.88 Nonvested at March 31, 2019 2,717,316 $ 17.83 2.3 235,436 $ 15.00 2.6
Summary of DSU Award Activity	The following table is a summary of DSU award activity for the three months ended March 31, 2019 : Deferred Stock Units Units Weighted-Average Grant Date Fair Value Per Share Outstanding at December 31, 2018 236,561 $ 19.40 Granted (1) 72,464 12.32 Dividend equivalents granted (2) 7,572 12.22 Settled (30,676 ) 22.53 Outstanding at March 31, 2019 285,921 $ 17.08

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Stock by Class	The Company has three classes of common stock as follows (share data in millions): Issued Common Stock Authorized Shares Outstanding Treasury Total Issued Shares Class A stock ($0.025 par value) 80.0 March 31, 2019 39.3 1.0 40.3 December 31, 2018 38.1 2.2 40.3 Class B stock ($0.025 par value) 80.0 March 31, 2019 13.5 — 13.5 December 31, 2018 13.5 — 13.5 Class C stock ($0.025 par value) 20.0 March 31, 2019 — 0.5 0.5 December 31, 2018 — 0.5 0.5
Schedule of Dividend Activity Related to the Outstanding Shares	The dividend activity related to the then outstanding shares for the three months ended March 31, 2019 and 2018 , was as follows: Declaration Date Record Date Payment Date Dividend Amount per Share 2019 Q1 Dividend February 19, 2019 February 25, 2019 March 8, 2019 $ 0.30 2018 Q1 Dividend February 21, 2018 March 19, 2018 March 30, 2018 $ 0.30

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss By Component, Net of Tax	The changes in accumulated other comprehensive loss by component, net of tax, for the three months ended March 31, 2019 , were as follows: Translation Adjustments Interest Rate Swap Adjustments Pension Benefit Plan Adjustments Total Balance at January 1, 2019 $ (130.0 ) $ 3.3 $ (25.5 ) $ (152.2 ) Other comprehensive loss before reclassifications (0.3 ) (2.8 ) — (3.1 ) Amounts reclassified from accumulated other comprehensive loss to net loss — — — — Net other comprehensive loss (0.3 ) (2.8 ) — (3.1 ) Balance at March 31, 2019 $ (130.3 ) $ 0.5 $ (25.5 ) $ (155.3 ) The changes in accumulated other comprehensive loss by component, net of tax, for the three months ended March 31, 2018 , were as follows: Translation Adjustments Interest Rate Swap Adjustments Pension Benefit Plan Adjustments Total Balance at January 1, 2018 $ (117.0 ) $ 1.6 $ (11.9 ) $ (127.3 ) Other comprehensive income before reclassifications 5.6 2.9 — 8.5 Amounts reclassified from accumulated other comprehensive loss to net loss — — — — Net other comprehensive income 5.6 2.9 — 8.5 Balance at March 31, 2018 $ (111.4 ) $ 4.5 $ (11.9 ) $ (118.8 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Summary of Segment Information	The following is a summary of segment information for the three months ended March 31, 2019 and 2018 : Net Sales Operating Income (Loss) Restructuring, Impairment and Transaction- Related Charges Products Services Three months ended March 31, 2019 United States Print and Related Services $ 703.3 $ 195.4 $ 15.8 $ 4.5 International 101.8 4.2 1.9 1.6 Total operating segments 805.1 199.6 17.7 6.1 Corporate — — (14.8 ) 1.5 Total $ 805.1 $ 199.6 $ 2.9 $ 7.6 Three months ended March 31, 2018 United States Print and Related Services $ 706.6 $ 161.2 $ 20.3 $ 20.4 International 94.5 5.2 5.7 1.0 Total operating segments 801.1 166.4 26.0 21.4 Corporate — — (18.9 ) 3.5 Total $ 801.1 $ 166.4 $ 7.1 $ 24.9
Reconciliation of Operating Income (Loss) to Earnings (Loss) Before Income Taxes and Equity in Loss of Unconsolidated Entities	A reconciliation of operating income to loss before income taxes and equity in loss (earnings) of unconsolidated entity as reported in the condensed consolidated statements of operations for the three months ended March 31, 2019 and 2018 , was as follows: Three Months Ended March 31, 2019 2018 Operating income $ 2.9 $ 7.1 Less: interest expense 21.8 17.3 Less: net pension income (1.5 ) (3.1 ) Less: loss on debt extinguishment 15.9 — Loss before income taxes and equity in loss (earnings) of unconsolidated entity $ (33.3 ) $ (7.1 )

Separate Financial Informatio_2

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statement of Operations	The following condensed consolidating financial information reflects the summarized financial information of Quad, the Company’s Guarantor Subsidiaries on a combined basis and the Company’s non-guarantor subsidiaries on a combined basis. Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net sales $ 397.7 $ 584.2 $ 126.9 $ (104.1 ) $ 1,004.7 Cost of sales 324.0 511.5 102.9 (101.3 ) 837.1 Selling, general and administrative expenses 61.4 26.5 12.8 (2.8 ) 97.9 Depreciation and amortization 23.1 29.2 6.9 — 59.2 Restructuring, impairment and transaction-related charges 1.7 4.0 1.9 — 7.6 Total operating expenses 410.2 571.2 124.5 (104.1 ) 1,001.8 Operating income (loss) $ (12.5 ) $ 13.0 $ 2.4 $ — $ 2.9 Interest expense (income) 20.3 0.2 1.3 — 21.8 Net pension income — (1.5 ) — — (1.5 ) Loss (gain) on debt extinguishment 15.9 — — — 15.9 Earnings (loss) before income taxes and equity in (earnings) loss of consolidated and unconsolidated entities (48.7 ) 14.3 1.1 — (33.3 ) Income tax expense (benefit) (16.6 ) 5.3 0.7 — (10.6 ) Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities (32.1 ) 9.0 0.4 — (22.7 ) Equity in (earnings) loss of consolidated entities (9.6 ) (1.4 ) — 11.0 — Equity in (earnings) loss of unconsolidated entity — — 0.1 — 0.1 Net earnings (loss) (22.5 ) 10.4 0.3 (11.0 ) (22.8 ) Less: net earnings (loss) attributable to noncontrolling interests — — (0.3 ) — (0.3 ) Net earnings (loss) attributable to Quad common shareholders $ (22.5 ) $ 10.4 $ 0.6 $ (11.0 ) $ (22.5 )	Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net sales $ 410.7 $ 546.4 $ 111.7 $ (101.3 ) $ 967.5 Cost of sales 331.5 472.3 87.5 (98.9 ) 792.4 Selling, general and administrative expenses 53.8 25.1 10.4 (2.4 ) 86.9 Depreciation and amortization 25.1 25.3 5.8 — 56.2 Restructuring, impairment and transaction-related charges 18.0 6.1 0.8 — 24.9 Total operating expenses 428.4 528.8 104.5 (101.3 ) 960.4 Operating income (loss) $ (17.7 ) $ 17.6 $ 7.2 $ — $ 7.1 Interest expense (income) 15.7 0.9 0.7 — 17.3 Net pension income — (3.1 ) — — (3.1 ) Earnings (loss) before income taxes and equity in (earnings) loss of consolidated and unconsolidated entities (33.4 ) 19.8 6.5 — (7.1 ) Income tax expense (benefit) (8.5 ) 4.4 0.8 — (3.3 ) Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities (24.9 ) 15.4 5.7 — (3.8 ) Equity in (earnings) loss of consolidated entities (21.4 ) (1.5 ) — 22.9 — Equity in (earnings) loss of unconsolidated entity — — (0.3 ) — (0.3 ) Net earnings (loss) (3.5 ) 16.9 6.0 (22.9 ) (3.5 ) Less: net earnings (loss) attributable to noncontrolling interests — — — — — Net earnings (loss) attributable to Quad common shareholders $ (3.5 ) $ 16.9 $ 6.0 $ (22.9 ) $ (3.5 )
Condensed Consolidating Statement of Comprehensive Income (Loss)	Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net earnings (loss) $ (3.5 ) $ 16.9 $ 6.0 $ (22.9 ) $ (3.5 ) Other comprehensive income (loss), net of tax 8.5 (0.5 ) 3.9 (3.4 ) 8.5 Total comprehensive income (loss) 5.0 16.4 9.9 (26.3 ) 5.0 Less: comprehensive earnings (loss) attributable to noncontrolling interests — — — — — Comprehensive income (loss) attributable to Quad common shareholders $ 5.0 $ 16.4 $ 9.9 $ (26.3 ) $ 5.0 Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total Net earnings (loss) $ (22.5 ) $ 10.4 $ 0.3 $ (11.0 ) $ (22.8 ) Other comprehensive income (loss), net of tax (3.1 ) (0.8 ) (0.5 ) 1.3 (3.1 ) Total comprehensive income (loss) (25.6 ) 9.6 (0.2 ) (9.7 ) (25.9 ) Less: comprehensive earnings (loss) attributable to noncontrolling interests — — (0.3 ) — (0.3 ) Comprehensive income (loss) attributable to Quad common shareholders $ (25.6 ) $ 9.6 $ 0.1 $ (9.7 ) $ (25.6 )
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet As of March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total ASSETS Cash and cash equivalents $ 2.8 $ 3.9 $ 3.7 $ — $ 10.4 Receivables, less allowances for doubtful accounts 357.9 69.3 85.1 — 512.3 Intercompany receivables — 100.0 25.7 (125.7 ) — Inventories 105.6 124.3 53.1 — 283.0 Other current assets 30.9 9.8 9.5 — 50.2 Total current assets 497.2 307.3 177.1 (125.7 ) 855.9 Property, plant and equipment—net 641.5 441.0 153.4 — 1,235.9 Investment in consolidated entities 891.8 18.1 — (909.9 ) — Goodwill and intangible assets—net 2.2 233.0 52.2 — 287.4 Intercompany loan receivable 68.8 — — (68.8 ) — Other long-term assets 68.2 101.0 54.8 — 224.0 Total assets $ 2,169.7 $ 1,100.4 $ 437.5 $ (1,104.4 ) $ 2,603.2 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable $ 233.0 $ 108.7 $ 77.6 $ — $ 419.3 Intercompany accounts payable 125.7 — — (125.7 ) — Short-term debt and current portion of long-term debt and lease obligations 44.7 27.2 19.2 — 91.1 Other current liabilities 141.9 65.0 40.9 — 247.8 Total current liabilities 545.3 200.9 137.7 (125.7 ) 758.2 Long-term debt and lease obligations 1,079.2 78.7 23.6 — 1,181.5 Intercompany loan payable — — 68.8 (68.8 ) — Other long-term liabilities 125.3 110.8 7.5 — 243.6 Total liabilities 1,749.8 390.4 237.6 (194.5 ) 2,183.3 Total shareholders’ equity and noncontrolling interests 419.9 710.0 199.9 (909.9 ) 419.9 Total liabilities and shareholders’ equity $ 2,169.7 $ 1,100.4 $ 437.5 $ (1,104.4 ) $ 2,603.2 Condensed Consolidating Balance Sheet As of December 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total ASSETS Cash and cash equivalents $ 60.3 $ 2.9 $ 6.3 $ — $ 69.5 Receivables, less allowances for doubtful accounts 378.0 63.3 87.4 — 528.7 Intercompany receivables — 153.9 28.8 (182.7 ) — Inventories 108.6 121.0 71.0 — 300.6 Other current assets 34.3 4.3 9.2 — 47.8 Total current assets 581.2 345.4 202.7 (182.7 ) 946.6 Property, plant and equipment—net 647.7 451.6 158.1 — 1,257.4 Investment in consolidated entities 757.0 16.7 — (773.7 ) — Goodwill and intangible assets—net 1.7 111.3 54.2 — 167.2 Intercompany loan receivable 109.7 — — (109.7 ) — Other long-term assets 42.5 10.4 45.0 — 97.9 Total assets $ 2,139.8 $ 935.4 $ 460.0 $ (1,066.1 ) $ 2,469.1 LIABILITIES AND SHAREHOLDERS ’ EQUITY Accounts payable $ 265.5 $ 137.8 $ 107.7 $ — $ 511.0 Intercompany accounts payable 182.7 — — (182.7 ) — Short-term debt and current portion of long-term debt and finance lease obligations 29.7 0.7 17.6 — 48.0 Other current liabilities 182.6 64.7 45.0 — 292.3 Total current liabilities 660.5 203.2 170.3 (182.7 ) 851.3 Long-term debt and finance lease obligations 878.8 1.0 13.1 — 892.9 Intercompany loan payable — 42.0 67.7 (109.7 ) — Other long-term liabilities 140.3 115.4 9.0 — 264.7 Total liabilities 1,679.6 361.6 260.1 (292.4 ) 2,008.9 Total shareholders’ equity and noncontrolling interests 460.2 573.8 199.9 (773.7 ) 460.2 Total liabilities and shareholders’ equity $ 2,139.8 $ 935.4 $ 460.0 $ (1,066.1 ) $ 2,469.1
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total OPERATING ACTIVITIES Net cash from (used in) operating activities $ 23.9 $ (79.7 ) $ (2.8 ) $ — $ (58.6 ) INVESTING ACTIVITIES Purchases of property, plant and equipment (18.4 ) (22.1 ) (4.8 ) — (45.3 ) Acquisition related investing activities — (120.7 ) (0.3 ) — (121.0 ) Intercompany investing activities (169.8 ) 10.4 (0.1 ) 159.5 — Other investing activities 3.6 4.2 0.3 — 8.1 Net cash from (used in) investing activities (184.6 ) (128.2 ) (4.9 ) 159.5 (158.2 ) FINANCING ACTIVITIES Proceeds from issuance of long-term debt 485.0 — 5.4 — 490.4 Payments of long-term debt and finance lease obligations (532.5 ) (0.4 ) (3.0 ) — (535.9 ) Borrowings on revolving credit facilities 1,230.5 — 8.8 — 1,239.3 Payments on revolving credit facilities (979.8 ) — (10.3 ) — (990.1 ) Payment of cash dividends (19.2 ) — — — (19.2 ) Intercompany financing activities (54.0 ) 209.3 4.2 (159.5 ) — Other financing activities (26.8 ) — — — (26.8 ) Net cash from (used in) financing activities 103.2 208.9 5.1 (159.5 ) 157.7 Effect of exchange rates on cash and cash equivalents — — — — — Net increase (decrease) in cash and cash equivalents (57.5 ) 1.0 (2.6 ) — (59.1 ) Cash and cash equivalents at beginning of period 60.3 2.9 6.3 — 69.5 Cash and cash equivalents at end of period $ 2.8 $ 3.9 $ 3.7 $ — $ 10.4 Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2018 Quad/Graphics, Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Total OPERATING ACTIVITIES Net cash from (used in) operating activities $ 26.4 $ (27.8 ) $ 3.6 $ — $ 2.2 INVESTING ACTIVITIES Purchases of property, plant and equipment (4.1 ) (12.2 ) (7.9 ) — (24.2 ) Acquisition related investing activities — (78.8 ) 4.9 — (73.9 ) Intercompany investing activities (139.4 ) 14.5 (0.1 ) 125.0 — Other investing activities 13.5 0.2 4.0 — 17.7 Net cash from (used in) investing activities (130.0 ) (76.3 ) 0.9 125.0 (80.4 ) FINANCING ACTIVITIES Payments of long-term debt and finance lease obligations (4.0 ) (0.4 ) (2.2 ) — (6.6 ) Borrowings on revolving credit facilities 238.6 — 6.9 — 245.5 Payments on revolving credit facilities (168.6 ) — (5.4 ) — (174.0 ) Payment of cash dividends (17.2 ) — — — (17.2 ) Intercompany financing activities 11.8 105.2 8.0 (125.0 ) — Other financing activities (3.5 ) — — — (3.5 ) Net cash from (used in) financing activities 57.1 104.8 7.3 (125.0 ) 44.2 Effect of exchange rates on cash and cash equivalents — — (0.2 ) — (0.2 ) Net increase (decrease) in cash and cash equivalents (46.5 ) 0.7 11.6 — (34.2 ) Cash and cash equivalents at beginning of period 51.7 2.0 10.7 — 64.4 Cash and cash equivalents at end of period $ 5.2 $ 2.7 $ 22.3 $ — $ 30.2

Revenue Recognition (Disaggrega

Revenue Recognition (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 1,004.7	$ 967.5
Catalog, publications, retail inserts, books and directories
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	557	586.6
Direct mail and other printed products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	241.5	207.6
Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	6.6	6.9
Total Products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	805.1	801.1
Logistics services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	104.4	103
Imaging, marketing services and other services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	95.2	63.4
Total Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	199.6	166.4
United States Print and Related Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	898.7	867.8
United States Print and Related Services | Catalog, publications, retail inserts, books and directories
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	485.7	510.1
United States Print and Related Services | Direct mail and other printed products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	211.1	189.7
United States Print and Related Services | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	6.5	6.8
United States Print and Related Services | Total Products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	703.3	706.6
United States Print and Related Services | Logistics services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	100.3	97.8
United States Print and Related Services | Imaging, marketing services and other services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	95.1	63.4
United States Print and Related Services | Total Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	195.4	161.2
International
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	106	99.7
International | Catalog, publications, retail inserts, books and directories
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	71.3	76.5
International | Direct mail and other printed products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	30.4	17.9
International | Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0.1	0.1
International | Total Products
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	101.8	94.5
International | Logistics services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	4.1	5.2
International | Imaging, marketing services and other services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0.1	0
International | Total Services
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 4.2	$ 5.2

Revenue Recognition (Costs to O

Revenue Recognition (Costs to Obtain Contracts) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Change in Capitalized Contract Costs [Roll Forward]
Balance at January 1, 2019	$ 21.7
Costs to obtain contracts	1.7
Amortization of costs to obtain contracts	(2.4)
Balance at March 31, 2019	$ 21

Revenue Recognition (Practical

Revenue Recognition (Practical Expedients) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Commitments that extended beyond one year	$ 415
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	31.00%
Remaining performance obligation, expected timing of satisfaction period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	31.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	38.00%

Acquisitions and Strategic In_2

Acquisitions and Strategic Investments (Periscope) (Details) - USD ($) $ in Millions	Jan. 03, 2019	Mar. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 114.8	$ 54.6
Periscope Acquisition
Business Acquisition [Line Items]
Cash paid for acquisition	$ 121
Preliminary purchase price	134
Acquired cash	9.8
Non-cash equity incentive awards	3.2
Identifiable finite-lived intangibles acquired	70.5
Goodwill	$ 60.2	$ 60.2
Minimum | Periscope Acquisition
Business Acquisition [Line Items]
Estimated finite-lived intangible assets, useful life (in years)	5 years
Maximum | Periscope Acquisition
Business Acquisition [Line Items]
Estimated finite-lived intangible assets, useful life (in years)	6 years

Acquisitions and Strategic In_3

Acquisitions and Strategic Investments (Ivie and Associates Acquisition) (Details) - USD ($) $ in Millions	Feb. 21, 2018	Mar. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 114.8	$ 54.6
Ivie and Associates
Business Acquisition [Line Items]
Cash paid for acquisition	$ 90
Potential earn-out	16
Preliminary purchase price	105.4
Acquired cash	13.6
Estimated future cash payments	15.4
Identifiable finite-lived intangibles acquired	79.6
Goodwill	28.3
Goodwill, tax deductible portion	$ 26.4
Ivie and Associates | Minimum
Business Acquisition [Line Items]
Estimated finite-lived intangible assets, useful life (in years)	3 years
Ivie and Associates | Maximum
Business Acquisition [Line Items]
Estimated finite-lived intangible assets, useful life (in years)	8 years

Acquisitions and Strategic In_4

Acquisitions and Strategic Investments (Rise Interactive Investment) (Details) - USD ($) $ in Millions	Mar. 14, 2018	Mar. 31, 2019	Dec. 31, 2018	Mar. 13, 2018
Business Acquisition [Line Items]
Goodwill		$ 114.8	$ 54.6
Rise Interactive
Business Acquisition [Line Items]
Parent ownership percentage before increase	57.00%			19.00%
Conversion of loans to equity ownership	$ 9.3
Cash paid for investment	$ 8.7
Noncontrolling owners ownership percentage	43.00%
Preliminary purchase price	$ 48.5
Acquired cash	13.7
Identifiable finite-lived intangibles acquired	23.1
Goodwill	$ 26.3
Rise Interactive | Minimum
Business Acquisition [Line Items]
Estimated finite-lived intangible assets, useful life (in years)	5 years
Rise Interactive | Maximum
Business Acquisition [Line Items]
Estimated finite-lived intangible assets, useful life (in years)	6 years

Restructuring, Impairment and_3

Restructuring, Impairment and Transaction-Related Charges (Schedule of Restructuring, Impairment and Transaction-Related Charges) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Employee termination charges	$ 4.3	$ 10.6
Impairment charges	1.7	7.9
Transaction-related charges	1.5	0.7
Integration costs	0.8	0.1
Other restructuring (income) charges	(0.7)	5.6
Total	$ 7.6	$ 24.9

Restructuring, Impairment and_4

Restructuring, Impairment and Transaction-Related Charges (Restructuring, Impairment and Transaction-Related Charges) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)plant	Mar. 31, 2018USD ($)
Restructuring Cost and Reserve [Line Items]
Employee termination charges	$ 4.3	$ 10.6
Integration costs	0.8	0.1
Other restructuring (income) charges	(0.7)	5.6
Impairment charges	1.7	7.9
Machinery and equipment impairments		5.5
Land and building impairments		2.4
Transaction-related charges	1.5	0.7
Facilities Idled
Restructuring Cost and Reserve [Line Items]
Gain from sale of properties	$ 3.5	$ 2.2
2010 Restructuring Program
Restructuring Cost and Reserve [Line Items]
Number of plant closures | plant	43

Restructuring, Impairment and_5

Restructuring, Impairment and Transaction-Related Charges (Schedule of Other Restructuring (Income) Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Equipment and infrastructure removal costs	$ 0.1
Gains on the sale of facilities	(3.5)	$ (2.2)
Other restructuring (income) charges	(0.7)	5.6
Facilities Idled
Restructuring Cost and Reserve [Line Items]
Vacant facility carrying costs and lease exit charges	1.3	6.6
Equipment and Infrastructure Removal Charges
Restructuring Cost and Reserve [Line Items]
Equipment and infrastructure removal costs		0.8
Other restructuring charges
Restructuring Cost and Reserve [Line Items]
Other restructuring activities	$ 1.4
Non-Cash Pension Settlement
Restructuring Cost and Reserve [Line Items]
Other restructuring activities		$ 0.4

Restructuring, Impairment and_6

Restructuring, Impairment and Transaction-Related Charges (Schedule of Restructuring Reserves) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Restructuring Reserve [Roll Forward]
Balance, beginning of period	$ 27.8
Expense (income), net	7.6
Cash payments, net	(6.6)
Non-cash adjustments/reclassifications	(6.6)
Balance, end of period	22.2
Accrued Liabilities
Restructuring Reserve [Roll Forward]
Balance, beginning of period	23.1
Balance, end of period	19.5
Short-term restructuring reserve	(19.5)
Accounts Payable
Restructuring Reserve [Roll Forward]
Short-term restructuring reserve	(2.5)
Other Long-Term Liabilities
Restructuring Reserve [Roll Forward]
Balance, beginning of period	2.9
Balance, end of period	0.2
Long-term restructuring reserve	(0.2)
Employee Termination Charges
Restructuring Reserve [Roll Forward]
Balance, beginning of period	9.3
Expense (income), net	4.3
Cash payments, net	(3.9)
Non-cash adjustments/reclassifications	(0.5)
Balance, end of period	9.2
Impairment Charges
Restructuring Reserve [Roll Forward]
Balance, beginning of period	0
Expense (income), net	1.7
Cash payments, net	0
Non-cash adjustments/reclassifications	(1.7)
Balance, end of period	0
Transaction-Related Charges
Restructuring Reserve [Roll Forward]
Balance, beginning of period	1.2
Expense (income), net	1.5
Cash payments, net	(1.1)
Non-cash adjustments/reclassifications	0.6
Balance, end of period	2.2
Integration Costs
Restructuring Reserve [Roll Forward]
Balance, beginning of period	0.2
Expense (income), net	0.8
Cash payments, net	(1)
Non-cash adjustments/reclassifications	0
Balance, end of period	0
Other Restructuring (Income) Charges
Restructuring Reserve [Roll Forward]
Balance, beginning of period	17.1
Expense (income), net	(0.7)
Cash payments, net	(0.6)
Non-cash adjustments/reclassifications	(5)
Balance, end of period	10.8
Lease Liabilities
Restructuring Reserve [Roll Forward]
Non-cash adjustments/reclassifications	$ 2

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 14, 2018	Feb. 21, 2018
Goodwill [Line Items]
Goodwill, Gross	$ 923.1	$ 862.9
Accumulated goodwill impairment loss	(808.3)	(808.3)
Goodwill	114.8	54.6
Ivie and Associates
Goodwill [Line Items]
Goodwill				$ 28.3
Rise Interactive
Goodwill [Line Items]
Goodwill			$ 26.3
United States Print and Related Services
Goodwill [Line Items]
Goodwill, Gross	893.1	832.9
Accumulated goodwill impairment loss	(778.3)	(778.3)
Goodwill	114.8	54.6
International
Goodwill [Line Items]
Goodwill, Gross	30	30
Accumulated goodwill impairment loss	(30)	(30)
Goodwill	$ 0	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Intangible Assets, Excluding Goodwill) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 661.1	$ 589.8
Accumulated Amortization	(488.5)	(477.2)
Net Book Value	$ 172.6	$ 112.6
Trademarks, patents, licenses and agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	6 years	7 years
Gross Carrying Amount	$ 68.9	$ 59.8
Accumulated Amortization	(25.1)	(22.4)
Net Book Value	$ 43.8	$ 37.4
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	5 years	5 years
Gross Carrying Amount	$ 15.4	$ 15.3
Accumulated Amortization	(5.9)	(5.1)
Net Book Value	$ 9.5	$ 10.2
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (Years)	6 years	6 years
Gross Carrying Amount	$ 576.8	$ 514.7
Accumulated Amortization	(457.5)	(449.7)
Net Book Value	$ 119.3	$ 65

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 03, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 114,800,000			$ 54,600,000
Finite-lived intangible assets acquired	70,500,000
Impairment of intangible assets	0	$ 0
Amortization expense of intangible assets	11,600,000	$ 5,800,000
Periscope Acquisition
Goodwill [Line Items]
Goodwill	$ 60,200,000		$ 60,200,000

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 33.4
2019	39.3
2020	31
2021	28.5
2022	24.2
2024 and thereafter	16.2
Net Book Value	$ 172.6	$ 112.6

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials and manufacturing supplies	$ 162.2	$ 170.8
Work in process	47.5	48.9
Finished goods	73.3	80.9
Total	$ 283	$ 300.6

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,777,700,000		$ 4,793,500,000
Less: accumulated depreciation	(3,541,800,000)		(3,536,100,000)
Property, plant and equipment—net	1,235,900,000		1,257,400,000
Tangible asset impairment charges	1,700,000	$ 7,900,000
Depreciation expense	47,600,000	$ 50,400,000
Net book value of assets held for sale	3,900,000		0
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	112,900,000		115,300,000
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	884,600,000		908,500,000
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,550,200,000		3,549,100,000
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	181,500,000		178,600,000
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 48,500,000		$ 42,000,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		60 Months Ended	69 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2015	Apr. 30, 2016
Loss Contingencies [Line Items]
Annual sales	$ 1,004.7	$ 967.5
PERU | Minimum
Loss Contingencies [Line Items]
Annual sales				$ 95
PERU | Maximum
Loss Contingencies [Line Items]
Annual sales				$ 135
CHINA | Minimum
Loss Contingencies [Line Items]
Annual sales			$ 2
CHINA | Maximum
Loss Contingencies [Line Items]
Annual sales			$ 3

Debt (Schedule of Long-term Deb

Debt (Schedule of Long-term Debt) (Details) - USD ($)	Mar. 31, 2019	Jan. 31, 2019	Dec. 31, 2018	Feb. 10, 2017
Debt Instrument [Line Items]
Total debt	$ 1,126,900,000		$ 925,500,000
Debt issuance costs	(11,800,000)		(7,200,000)
Less: short-term debt and current portion of long-term debt	(52,400,000)		(42,900,000)
Long-term debt	1,074,500,000		882,600,000
Master note and security agreement
Debt Instrument [Line Items]
Total debt	94,400,000		96,200,000
Term loan A
Debt Instrument [Line Items]
Total debt	32,400,000		281,300,000
Face amount	375,000,000	$ 825,000,000
Term loan B
Debt Instrument [Line Items]
Total debt	485,400,000		279,500,000
Face amount	300,000,000	$ 500,000,000		$ 300,000,000
Revolving credit facility
Debt Instrument [Line Items]
Total debt	250,700,000		0
Face amount	725,000,000
Senior unsecured notes
Debt Instrument [Line Items]
Total debt	243,500,000		243,500,000
Face amount	300,000,000
International term loans
Debt Instrument [Line Items]
Total debt	19,800,000		17,800,000
Face amount	21,900,000
International revolving credit facilities
Debt Instrument [Line Items]
Total debt	10,200,000		11,800,000
Face amount	17,600,000
Other
Debt Instrument [Line Items]
Total debt	$ 2,300,000		$ 2,600,000

Debt (Debt Transactions Narrati

Debt (Debt Transactions Narrative) (Details) - USD ($)	Jan. 31, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Feb. 10, 2017
Debt Instrument [Line Items]
Fair value of company debt		$ 1,100,000,000		$ 900,000,000
Loss on debt extinguishment from February 10, 2017 debt financing arrangement		(15,900,000)	$ 0
Financing Arrangement, February 2017
Debt Instrument [Line Items]
Loss on debt extinguishment from February 10, 2017 debt financing arrangement		(14,200,000)
Debt issuance costs					$ 20,200,000
Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity		725,000,000
Debt instrument		725,000,000
Third Amendment To Senior Secured Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 800,000,000
Term Loan A
Debt Instrument [Line Items]
Debt instrument	$ 825,000,000	375,000,000
Term loan B
Debt Instrument [Line Items]
Term of debt instrument	7 years
Debt instrument	$ 500,000,000	300,000,000			300,000,000
Term loan B | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	5.00%
Term loan B | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
Financing Arrangement, January 2019
Debt Instrument [Line Items]
Original issue discount from January 31, 2019 debt financing arrangement		$ 15,000,000
Revolving Credit Facility And Term Loan A | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility And Term Loan A | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Debt Instrument, Redemption, Period One | Third Amendment To Senior Secured Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 82,800,000
Debt Instrument, Redemption, Period One | Term Loan A
Debt Instrument [Line Items]
Debt instrument	32,400,000
Debt Instrument, Redemption, Period Two | Third Amendment To Senior Secured Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 717,200,000
Term of debt instrument	5 years
Debt Instrument, Redemption, Period Two | Term Loan A
Debt Instrument [Line Items]
Term of debt instrument	5 years
Debt instrument	$ 792,600,000
Long-term Debt | Financing Arrangement, February 2017
Debt Instrument [Line Items]
Debt issuance costs					6,000,000
Discharge of Debt | Financing Arrangement, February 2017
Debt Instrument [Line Items]
Debt issuance costs					$ 14,200,000

Debt (Schedule of Debt Issuance

Debt (Schedule of Debt Issuance Costs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Issuance Costs [Roll Forward]
Balance at December 31, 2018	$ 7.2
Debt issuance costs from January 31, 2019 debt financing arrangement	20.2	$ 0
Loss on debt extinguishment from February 10, 2017 debt financing arrangement	(15.9)	$ 0
Amortization of debt issuance costs	(0.7)
Balance at March 31, 2019	11.8
Financing Arrangement, February 2017
Debt Issuance Costs [Roll Forward]
Debt issuance costs from January 31, 2019 debt financing arrangement	6
Financing Agreement, April 2014
Debt Issuance Costs [Roll Forward]
Loss on debt extinguishment from February 10, 2017 debt financing arrangement	$ (0.7)

Debt (Schedule of Original Issu

Debt (Schedule of Original Issue Discount) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Changes In Original Issue Discount [Roll Forward]
Balance at December 31, 2018	$ 1
Loss on debt extinguishment from February 10, 2017 debt financing arrangement	(1)
Amortization of original issue discount	(0.4)
Balance at March 31, 2019	14.6
Financing Arrangement, January 2019
Changes In Original Issue Discount [Roll Forward]
Original issue discount from January 31, 2019 debt financing arrangement	$ 15

Debt (Schedule of Loss on Debt

Debt (Schedule of Loss on Debt Extinguishment) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Feb. 10, 2017
Extinguishment of Debt [Line Items]
Loss on debt extinguishment	$ 15.9	$ 0
Financing Agreement, April 2014
Extinguishment of Debt [Line Items]
Loss on debt extinguishment	0.7
Financing Arrangement, February 2017
Extinguishment of Debt [Line Items]
Debt issuance costs			$ 20.2
Loss on debt extinguishment	14.2
Financing Arrangement, February 2017 | Discharge of Debt
Extinguishment of Debt [Line Items]
Debt issuance costs			14.2
Financing Arrangement, February 2017 | Long-term Debt
Extinguishment of Debt [Line Items]
Debt issuance costs			$ 6
Financing Arrangement, February 2017
Extinguishment of Debt [Line Items]
Original issue discount from January 31, 2019 debt financing arrangement	$ 1

Debt (Debt Covenants and Compli

Debt (Debt Covenants and Compliance) (Details)	Jan. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Debt Instrument [Line Items]
Total leverage ratio, covenant compliance		2.90
Senior secured leverage ratio to consolidated EBITDA		2.26
Ratio of interest coverage		5.38
Financing Agreement Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum annual dividend payment		$ 120,000,000
Maximum
Debt Instrument [Line Items]
Total leverage ratio, covenant compliance		3.75
Senior secured leverage ratio to consolidated EBITDA		3.50
Maximum | Financing Agreement Senior Secured Credit Facility
Debt Instrument [Line Items]
Total leverage ratio		2.75
Senior secured leverage ratio		3
Total leverage ratio on unsecured debt		3.50
Minimum
Debt Instrument [Line Items]
Ratio of interest coverage, covenant compliance		3
Third Amendment To Senior Secured Credit Facility | Revolving credit facility
Debt Instrument [Line Items]
Line of credit facility, covenant terms, unused commitments minimum	$ 300,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Interest rate, percentage		7.00%

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets—net	$ 127.3		$ 0
Operating lease, liability	$ 130.8
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets—net		$ 130.8
Operating lease, liability		$ 132.4

Leases - Lease Information (Det

Leases - Lease Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Finance lease cost:
Amortization of right-of-use assets	$ 1.4
Interest on lease liabilities	0.2
Operating lease cost	10.9
Short-term lease cost	0.1
Sublease income	(0.6)
Total lease cost	12
Operating cash flows from finance leases	0
Operating cash flows from operating leases	11.3
Financing cash flows from finance leases	1.6
Right-of-use assets obtained in exchange for new finance lease liabilities	1.1
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 6
Weighted-average remaining lease term — finance leases	3 years 1 month
Weighted-average remaining lease term — operating leases	5 years 5 months
Weighted-average discount rate — finance leases	6.50%
Weighted-average discount rate — operating leases	6.70%

Leases - Maturity of Leases Aft

Leases - Maturity of Leases After Adoption of ASC 842 (Details) $ in Millions	Mar. 31, 2019USD ($)
Future Maturities of Operating Leases
Remainder of 2019	$ 32.9
2020	36
2021	24.7
2022	18.2
2023	14
2024 and thereafter	31.9
Total minimum payments	157.7
Less: present value discount	(26.9)
Operating lease, liability	130.8
Future Maturities of Finance Leases
Remainder of 2019	4.5
Finance Lease, Liability, Payments, Due Year Two	5.1
Finance Lease, Liability, Payments, Due Year Three	4.4
Finance Lease, Liability, Payments, Due Year Four	2
Finance Lease, Liability, Payments, Due Year Five	0.2
2024 and thereafter	0
Total minimum payments	16.2
Less: present value discount	(1.3)
Finance lease, liability	$ 14.9

Leases - Components of Finance

Leases - Components of Finance Lease Costs Prior to Adoption of ASC 842 (Details) - Machinery and equipment $ in Millions	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Leased equipment—gross	$ 33.4
Less: accumulated depreciation	(18.9)
Leased equipment—net	$ 14.5

Leases - Lease Maturities Prior

Leases - Lease Maturities Prior to Adoption of ASC 842 (Details) $ in Millions	Dec. 31, 2018USD ($)
Future Maturities of Finance Leases
2019	$ 5.9
2020	4.9
2021	4.1
2022	2
2023	0.2
2024 and thereafter	0
Total minimum payments	17.1
Less: amounts representing interest	(1.7)
Present value of minimum payments	15.4
Less: current portion	(5.1)
Long-term finance lease obligations	10.3
Future Maturities of Operating Leases
2019	38.2
2020	33.4
2021	23.9
2022	17.8
2023	13.7
2024 and thereafter	31.1
Total	$ 158.1

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Mar. 31, 2019USD ($)
Income Tax Disclosure [Abstract]
Liability for unrecognized tax benefits	$ 14.3
Anticipated decrease in unrecognized tax benefits within the next twelve months	$ 4.6

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements - Interest Rate Swaps (Details) - USD ($)	Mar. 29, 2019	Feb. 28, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 19, 2019	Dec. 31, 2018	Feb. 07, 2017
Derivative [Line Items]
Change in fair value of interest rate swap			$ (3,700,000)	$ 3,700,000
Interest Rate Swap [Member]
Derivative [Line Items]
Term	5 years	5 years
Notional amount					$ 130,000,000		$ 250,000,000
Fixed swap rate					2.43%		1.89%
Spread on underlying debt at March 31, 2019			5.00%
All-in swap rate at March 31, 2019					7.43%		6.89%
Cash flow hedge ineffectiveness recorded in earnings			$ 0
Prepaid Expenses and Other Current Assets | Interest Rate Swap [Member]
Derivative [Line Items]
Interest rate swap assets			2,100,000			$ 4,300,000
Other Long Term Liabilities | Interest Rate Swap [Member]
Derivative [Line Items]
Interest rate swap liabilities			(1,500,000)			$ 0
Interest Expense | Interest Rate Swap [Member]
Derivative [Line Items]
Interest income (expense) on interest rate swap			(400,000)	200,000
Other Comprehensive Income (Loss) | Interest Rate Swap [Member]
Derivative [Line Items]
Change in fair value of interest rate swap			$ (3,700,000)	$ 3,700,000

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Foreign Exchange Contracts (Details)	Mar. 31, 2019contract
Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	0

Accrued Liabilities and Other_3

Accrued Liabilities and Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Schedule of Accrued Liabilities and Other Long-Term Liabilities [Line Items]
Multiemployer pension plans – withdrawal liability	$ 49.2
Restructuring liabilities	22.2	$ 27.8
Accrued Liabilities
Schedule of Accrued Liabilities and Other Long-Term Liabilities [Line Items]
Employee-related liabilities	95	126.4
Single employer pension plan obligations	1.7	1.7
Multiemployer pension plans – withdrawal liability	8.5	8.4
Tax-related liabilities	30.5	29.6
Restructuring liabilities	19.5	23.1
Interest and rent liabilities	11.3	6
Other	81.3	97.1
Total	247.8	292.3
Other Long-Term Liabilities
Schedule of Accrued Liabilities and Other Long-Term Liabilities [Line Items]
Employee-related liabilities	62.7	62.8
Single employer pension plan obligations	79.2	80.9
Multiemployer pension plans – withdrawal liability	40.7	42.5
Tax-related liabilities	7.8	8.1
Restructuring liabilities	0.2	2.9
Interest and rent liabilities	0.5	1.4
Other	32.6	34
Total	223.7	232.6
Total
Schedule of Accrued Liabilities and Other Long-Term Liabilities [Line Items]
Employee-related liabilities	157.7	189.2
Single employer pension plan obligations	80.9	82.6
Multiemployer pension plans – withdrawal liability	49.2	50.9
Tax-related liabilities	38.3	37.7
Restructuring liabilities	19.7	26
Interest and rent liabilities	11.8	7.4
Other	113.9	131.1
Total	$ 471.5	$ 524.9

Employee Retirement Plans (Defi

Employee Retirement Plans (Defined Contribution Plans) (Details) - USD ($)	Feb. 16, 2018	Mar. 31, 2019	Mar. 31, 2018
Retirement Benefits [Abstract]
ESOP Contribution, shares	1,006,061
ESOP Contribution, price per share	$ 22.18
Employee stock ownership plan contribution expense	$ 22,300,000	$ 0	$ 22,300,000

Employee Retirement Plans (Pens

Employee Retirement Plans (Pension Plans) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net pension income	$ 1.5	$ 3.1
Pension Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	(4.4)	(4)
Expected return on plan assets	5.9	7.1
Net pension income	1.5	$ 3.1
Pension Plans | Non-qualified
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Benefit payments on non-qualified pension plans	0.3
Pension Plans | Qualified
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Contributions on qualified pension plans	$ 0

Employee Retirement Plans (Mult

Employee Retirement Plans (Multiemployer Pension Plans) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)plan	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Multiemployer Plans [Line Items]
Number of underfunded plans | plan	2
Withdrawal obligation	$ 49.2
Multiemployer plan contributions	2.6	$ 3.9
Other Long-Term Liabilities
Multiemployer Plans [Line Items]
Withdrawal obligation	40.7		$ 42.5
Accrued Liabilities
Multiemployer Plans [Line Items]
Withdrawal obligation	$ 8.5		$ 8.4

Earnings (Loss) Per Share Att_3

Earnings (Loss) Per Share Attributable to Quad/Graphics Common Shareholders (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator
Net earnings (loss) attributable to Quad/Graphics common shareholders	$ (22.5)	$ (3.5)
Denominator
Basic weighted average number of common shares outstanding for all classes of common shares (in shares)	49.6	50.1
Plus: effect of dilutive equity incentive instruments (in shares)	0	0
Diluted weighted average number of common shares outstanding for all classes of common shares (in shares)	49.6	50.1
Loss per share attributable to Quad common shareholders
Basic and diluted (in dollars per share)	$ (0.45)	$ (0.07)
Cash dividends paid per common share for all classes of common shares (in dollars per share)	$ 0.30	$ 0.30

Equity Incentive Programs (Equi

Equity Incentive Programs (Equity Incentive Programs and Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares of common stock reserved (in shares)	10,871,652
Stock option exercise price floor of fair market value of class A common stock (percent)	100.00%
Shares available for issuance (in shares)	1,606,490
Stock-based compensation	$ 5	$ 5.4
Estimated future compensation expense	$ 26.3
Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Estimated future compensation expense	$ 26.3
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Estimated Future Expense in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	$ 10.5
Estimated Future Expense in 2018 | Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	10.5
Estimated Future Expense in 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	9.8
Estimated Future Expense in 2019 | Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	9.8
Estimated Future Expense in 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	5.3
Estimated Future Expense in 2020 | Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	5.3
Estimated Future Expense in 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	0.7
Estimated Future Expense in 2021 | Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated future compensation expense	$ 0.7
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares of common stock reserved (in shares)	1,800,000

Equity Incentive Programs (Stoc

Equity Incentive Programs (Stock Options Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 5,000,000	$ 5,400,000
Estimated future compensation expense	26,300,000
Deferred Stock Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 900,000	$ 900,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Options granted (in shares)	0	0
Compensation expense	$ 0	$ 0
Estimated future compensation expense	$ 0
Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Compensation expense	$ 4,100,000	$ 4,500,000
Estimated future compensation expense	$ 26,300,000
Annual Anniversary Grant Date of Award | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earliest expiration period of award after event	10 years
Termination for Death | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earliest expiration period of award after event	24 months
Termination for Retirement or Disability | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earliest expiration period of award after event	36 months
Employment Terminated, Any Other Reason | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earliest expiration period of award after event	90 days
Vested in the first year | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested	0.00%
Vested in the second year | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested	33.33%
Vested in third year | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested	33.33%
Vested in fourth year | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested	33.33%

Equity Incentive Programs (Sche

Equity Incentive Programs (Schedule of Stock Option Activity Roll Forward) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Deferred Stock Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 900,000	$ 900,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 0	$ 0
Shares Under Option
Outstanding at beginning of period (in shares)	942,315
Granted (in shares)	0	0
Exercised (in shares)	0
Canceled/forfeited/expired (in shares)	(144,900)
Outstanding at end of period (in shares)	797,415		942,315
Exercisable (in shares)	797,415
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 24.31
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Canceled/forfeited/expired (in dollars per share)	18.27
Outstanding at end of period (in dollars per share)	25.41		$ 24.31
Exercisable (in dollars per share)	$ 25.41
Weighted Average Remaining Contractual Term (years)
Outstanding at beginning of period (in years)	1 year 10 months		1 year 10 months
Outstanding at end of period (in years)	1 year 10 months		1 year 10 months
Exercisable (in years)	1 year 10 months
Aggregate Intrinsic Value (millions)
Outstanding at beginning of period	$ 0
Outstanding at end of period	0		$ 0
Exercisable	$ 0

Equity Incentive Programs (Sc_2

Equity Incentive Programs (Schedule of Stock Option Exercises and Vesting Activity) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock options exercised	$ 0	$ 4
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	0	3.6
Proceeds from stock options exercised	$ 0	$ 4

Equity Incentive Programs (Rest

Equity Incentive Programs (Restricted Stock and Restricted Stock Unit Activity Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs classified as liability	$ 1.6
Restricted Stock and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of days dividends will be paid after vesting, maximum	45 days
Award vesting period	3 years
Compensation expense	$ 4.1	$ 4.5

Equity Incentive Programs (Sc_3

Equity Incentive Programs (Schedule of Restricted Stock and Restricted Stock Unit Award Activity) (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	2,335,916
Granted (in shares)	1,500,434
Vested (in shares)	(1,118,071)
Forfeited (in shares)	(963)
Nonvested at end of period (in shares)	2,717,316	2,335,916
Weighted- Average Grant Date Fair Value Per Share
Nonvested at beginning of period (in dollars per share)	$ 17.36
Granted (in dollars per share)	12.32
Vested (in dollars per share)	9.46
Forfeited (in dollars per share)	26.88
Nonvested at end of period (in dollars per share)	$ 17.83	$ 17.36
Weighted- Average Remaining Contractual Term (years)
Nonvested at beginning of period	2 years 4 months	1 year
Nonvested at end of period	2 years 4 months	1 year
Shares granted, contingent upon shareholder approval (in shares)	1,238,757
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	107,092
Granted (in shares)	186,807
Vested (in shares)	(57,500)
Forfeited (in shares)	(963)
Nonvested at end of period (in shares)	235,436	107,092
Weighted- Average Grant Date Fair Value Per Share
Nonvested at beginning of period (in dollars per share)	$ 16.70
Granted (in dollars per share)	12.33
Vested (in dollars per share)	9.30
Forfeited (in dollars per share)	26.88
Nonvested at end of period (in dollars per share)	$ 15	$ 16.70
Weighted- Average Remaining Contractual Term (years)
Nonvested at beginning of period	2 years 7 months	9 months
Nonvested at end of period	2 years 7 months	9 months
Shares granted, contingent upon shareholder approval (in shares)	49,923

Equity Incentive Programs (Defe

Equity Incentive Programs (Deferred Stock Unit Activity) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Deferred Stock Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted, contingent upon shareholder approval (in shares)	72,464
Units
Outstanding at beginning of period (in shares)	236,561
Granted (in shares)	72,464
Dividend equivalents granted (in shares)	7,572
Settled (in shares)	(30,676)
Outstanding at end of period (in shares)	285,921
Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of period (in dollars per share)	$ 19.40
Granted (in dollars per share)	12.32
Dividend equivalents granted (in dollars per share)	12.22
Settled (in dollars per share)	22.53
Outstanding at end of period (in dollars per share)	$ 17.08
Number of DSU to class A common share conversion (in shares)	1
Compensation expense	$ 900,000	$ 900,000
Dividends [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted, contingent upon shareholder approval (in shares)	1,776

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule of Stock by Class) (Details) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Common Class A
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.025	$ 0.025
Authorized Shares	80,000,000	80,000,000
Outstanding	39,300,000	38,100,000
Treasury	1,000,000	2,200,000
Total Issued Shares	40,300,000	40,300,000
Common Class B
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.025	$ 0.025
Authorized Shares	80,000,000	80,000,000
Outstanding	13,500,000	13,500,000
Treasury	0	0
Total Issued Shares	13,500,000	13,500,000
Common Class C
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.025	$ 0.025
Authorized Shares	20,000,000	20,000,000
Outstanding	0	0
Treasury	500,000	500,000
Total Issued Shares	500,000	500,000

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details)	Feb. 16, 2018USD ($)$ / sharesshares	Mar. 31, 2018shares	Mar. 31, 2019USD ($)votestock_class$ / sharesshares	Mar. 31, 2018USD ($)$ / shares	Dec. 31, 2018vote$ / sharesshares	Jul. 30, 2018USD ($)	Sep. 06, 2011USD ($)
Shareholders' Equity [Line Items]
Number of classes of common stock | stock_class			3
Preferred stock, authorized shares			500,000		500,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Preferred stock, issued shares			0		0
ESOP Contribution, shares	1,006,061
ESOP Contribution, price per share | $ / shares	$ 22.18
Employee stock ownership plan contribution expense | $	$ 22,300,000		$ 0	$ 22,300,000
Dividends declared per share (in dollars per share) | $ / shares			$ 0.30	$ 0.30
Common Class A
Shareholders' Equity [Line Items]
Number of votes | vote			1		1
Share repurchase program, authorized amount | $						$ 100,000,000	$ 100,000,000
Remaining authorized repurchases | $			$ 100,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.025		$ 0.025
Common Stock, Shares Authorized			80,000,000		80,000,000
Common Class B
Shareholders' Equity [Line Items]
Number of votes | vote			10		10
Common stock, par value (in dollars per share) | $ / shares			$ 0.025		$ 0.025
Common Stock, Shares Authorized			80,000,000		80,000,000
Common Class B | Treasury Stock
Shareholders' Equity [Line Items]
Conversion of Stock, Shares Converted		284,845
Common Class C
Shareholders' Equity [Line Items]
Number of votes | vote			10		10
Common stock, par value (in dollars per share) | $ / shares			$ 0.025		$ 0.025
Common Stock, Shares Authorized			20,000,000		20,000,000

Shareholders' Equity (Schedul_2

Shareholders' Equity (Schedule of Shareholders' Equity) (Details) - USD ($)	Feb. 16, 2018	Mar. 31, 2019	Mar. 31, 2018
Shareholders' Equity Activity [Roll Forward]
Beginning balance, Quad's shareholders equity		$ 442,500,000
Beginning balance, noncontrolling interests		17,700,000
Shareholders' Equity and Noncontrolling Interests, beginning of period		460,200,000
Net loss		(22,800,000)	$ (3,500,000)
Employee stock ownership plan contribution	$ 22,300,000	0	22,300,000
Ending balance, Quad's shareholders' equity		402,500,000
Ending balance, noncontrolling interests		17,400,000
Shareholders' Equity and Noncontrolling Interests, end of period		419,900,000
Parent Company
Shareholders' Equity Activity [Roll Forward]
Beginning balance, Quad's shareholders equity		442,500,000	525,600,000
Translation adjustments		(300,000)	5,600,000
Interest rate swap adjustments, net of tax		(2,800,000)	2,900,000
Cash dividends declared		(16,000,000)	(16,100,000)
Stock-based compensation		5,000,000	5,400,000
Stock options exercised			4,000,000
Equity awards redeemed to pay employees' tax obligations		(6,600,000)	(7,500,000)
Ending balance, Quad's shareholders' equity		402,500,000	538,700,000
Noncontrolling Interests
Shareholders' Equity Activity [Roll Forward]
Beginning balance, noncontrolling interests		17,700,000	0
Consolidation of Rise			30,000,000
Ending balance, noncontrolling interests		$ 17,400,000	$ 30,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (By Component) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, beginning of period	$ (152.2)	$ (127.3)
Other comprehensive income (loss) before reclassifications	(3.1)	8.5
Amounts reclassified from accumulated other comprehensive loss to net earnings (loss)	0	0
Other comprehensive (loss) income, net of tax	(3.1)	8.5
Accumulated other comprehensive income (loss), net of tax, end of period	(155.3)	(118.8)
Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, beginning of period	(130)	(117)
Other comprehensive income (loss) before reclassifications	(0.3)	5.6
Amounts reclassified from accumulated other comprehensive loss to net earnings (loss)	0	0
Other comprehensive (loss) income, net of tax	(0.3)	5.6
Accumulated other comprehensive income (loss), net of tax, end of period	(130.3)	(111.4)
Interest Rate Swap Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, beginning of period	3.3	1.6
Other comprehensive income (loss) before reclassifications	(2.8)	2.9
Amounts reclassified from accumulated other comprehensive loss to net earnings (loss)	0	0
Other comprehensive (loss) income, net of tax	(2.8)	2.9
Accumulated other comprehensive income (loss), net of tax, end of period	0.5	4.5
Pension Benefit Plan Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive income (loss), net of tax, beginning of period	(25.5)	(11.9)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss to net earnings (loss)	0	0
Other comprehensive (loss) income, net of tax	0	0
Accumulated other comprehensive income (loss), net of tax, end of period	$ (25.5)	$ (11.9)

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Unrestricted subsidiaries under the Senior Unsecured Notes indenture as percentage of total consolidated assets (less than)	2.00%
Unrestricted subsidiaries under the Senior Unsecured Notes indenture as a percentage of total consolidated net sales (less than)	2.00%
Products	$ 805.1	$ 801.1
Services	199.6	166.4
Operating Income (Loss)	2.9	7.1
Restructuring, Impairment and Transaction- Related Charges	7.6	24.9
United States Print and Related Services
Segment Reporting Information [Line Items]
Products	703.3	706.6
Services	195.4	161.2
Operating Income (Loss)	15.8	20.3
Restructuring, Impairment and Transaction- Related Charges	4.5	20.4
International
Segment Reporting Information [Line Items]
Products	101.8	94.5
Services	4.2	5.2
Operating Income (Loss)	1.9	5.7
Restructuring, Impairment and Transaction- Related Charges	1.6	1
Operating Segments
Segment Reporting Information [Line Items]
Products	805.1	801.1
Services	199.6	166.4
Operating Income (Loss)	17.7	26
Restructuring, Impairment and Transaction- Related Charges	6.1	21.4
Corporate
Segment Reporting Information [Line Items]
Products	0	0
Services	0	0
Operating Income (Loss)	(14.8)	(18.9)
Restructuring, Impairment and Transaction- Related Charges	$ 1.5	$ 3.5

Segment Information (Reconcilia

Segment Information (Reconciliation of Operating Profit from Segment to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting [Abstract]
Operating income	$ 2.9	$ 7.1
Less: interest expense	21.8	17.3
Less: net pension income	(1.5)	(3.1)
Less: loss on debt extinguishment	15.9	0
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	$ (33.3)	$ (7.1)

Separate Financial Informatio_3

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Narrative) (Details)	Mar. 31, 2019
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Ownership percentage	100.00%

Separate Financial Informatio_4

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,004.7	$ 967.5
Cost of sales	837.1	792.4
Selling, general and administrative expenses	97.9	86.9
Depreciation and amortization	59.2	56.2
Restructuring, impairment and transaction-related charges	7.6	24.9
Total operating expenses	1,001.8	960.4
Operating income	2.9	7.1
Interest expense	21.8	17.3
Net pension income	(1.5)	(3.1)
Loss (gain) on debt extinguishment	15.9	0
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	(33.3)	(7.1)
Income tax expense (benefit)	(10.6)	(3.3)
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities	(22.7)	(3.8)
Equity in (earnings) loss of consolidated entities	0	0
Equity in (earnings) loss of unconsolidated entity	0.1	(0.3)
Net loss	(22.8)	(3.5)
Less: net loss attributable to noncontrolling interests	(0.3)	0
Net loss attributable to Quad common shareholders	(22.5)	(3.5)
Eliminations
Income Statement [Abstract]
Net sales	(104.1)	(101.3)
Cost of sales	(101.3)	(98.9)
Selling, general and administrative expenses	(2.8)	(2.4)
Depreciation and amortization	0	0
Restructuring, impairment and transaction-related charges	0	0
Total operating expenses	(104.1)	(101.3)
Operating income	0	0
Interest expense	0	0
Net pension income	0	0
Loss (gain) on debt extinguishment	0
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	0	0
Income tax expense (benefit)	0	0
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities	0	0
Equity in (earnings) loss of consolidated entities	11	22.9
Equity in (earnings) loss of unconsolidated entity	0	0
Net loss	(11)	(22.9)
Less: net loss attributable to noncontrolling interests	0	0
Net loss attributable to Quad common shareholders	(11)	(22.9)
Quad/Graphics, Inc.
Income Statement [Abstract]
Net sales	397.7	410.7
Cost of sales	324	331.5
Selling, general and administrative expenses	61.4	53.8
Depreciation and amortization	23.1	25.1
Restructuring, impairment and transaction-related charges	1.7	18
Total operating expenses	410.2	428.4
Operating income	(12.5)	(17.7)
Interest expense	20.3	15.7
Net pension income	0	0
Loss (gain) on debt extinguishment	15.9
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	(48.7)	(33.4)
Income tax expense (benefit)	(16.6)	(8.5)
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities	(32.1)	(24.9)
Equity in (earnings) loss of consolidated entities	(9.6)	(21.4)
Equity in (earnings) loss of unconsolidated entity	0	0
Net loss	(22.5)	(3.5)
Less: net loss attributable to noncontrolling interests	0	0
Net loss attributable to Quad common shareholders	(22.5)	(3.5)
Guarantor Subsidiaries
Income Statement [Abstract]
Net sales	584.2	546.4
Cost of sales	511.5	472.3
Selling, general and administrative expenses	26.5	25.1
Depreciation and amortization	29.2	25.3
Restructuring, impairment and transaction-related charges	4	6.1
Total operating expenses	571.2	528.8
Operating income	13	17.6
Interest expense	0.2	0.9
Net pension income	(1.5)	(3.1)
Loss (gain) on debt extinguishment	0
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	14.3	19.8
Income tax expense (benefit)	5.3	4.4
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities	9	15.4
Equity in (earnings) loss of consolidated entities	(1.4)	(1.5)
Equity in (earnings) loss of unconsolidated entity	0	0
Net loss	10.4	16.9
Less: net loss attributable to noncontrolling interests	0	0
Net loss attributable to Quad common shareholders	10.4	16.9
Non-Guarantor Subsidiaries
Income Statement [Abstract]
Net sales	126.9	111.7
Cost of sales	102.9	87.5
Selling, general and administrative expenses	12.8	10.4
Depreciation and amortization	6.9	5.8
Restructuring, impairment and transaction-related charges	1.9	0.8
Total operating expenses	124.5	104.5
Operating income	2.4	7.2
Interest expense	1.3	0.7
Net pension income	0	0
Loss (gain) on debt extinguishment	0
Loss before income taxes and equity in loss (earnings) of unconsolidated entity	1.1	6.5
Income tax expense (benefit)	0.7	0.8
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities	0.4	5.7
Equity in (earnings) loss of consolidated entities	0	0
Equity in (earnings) loss of unconsolidated entity	0.1	(0.3)
Net loss	0.3	6
Less: net loss attributable to noncontrolling interests	(0.3)	0
Net loss attributable to Quad common shareholders	$ 0.6	$ 6

Separate Financial Informatio_5

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Statement of Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net loss	$ (22.8)	$ (3.5)
Other comprehensive income (loss), net of tax	(3.1)	8.5
Total comprehensive income (loss)	(25.9)	5
Less: comprehensive loss attributable to noncontrolling interests	(0.3)	0
Comprehensive (loss) income attributable to Quad common shareholders	(25.6)	5
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net loss	(11)	(22.9)
Other comprehensive income (loss), net of tax	1.3	(3.4)
Total comprehensive income (loss)	(9.7)	(26.3)
Less: comprehensive loss attributable to noncontrolling interests	0	0
Comprehensive (loss) income attributable to Quad common shareholders	(9.7)	(26.3)
Quad/Graphics, Inc.
Condensed Financial Statements, Captions [Line Items]
Net loss	(22.5)	(3.5)
Other comprehensive income (loss), net of tax	(3.1)	8.5
Total comprehensive income (loss)	(25.6)	5
Less: comprehensive loss attributable to noncontrolling interests	0	0
Comprehensive (loss) income attributable to Quad common shareholders	(25.6)	5
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net loss	10.4	16.9
Other comprehensive income (loss), net of tax	(0.8)	(0.5)
Total comprehensive income (loss)	9.6	16.4
Less: comprehensive loss attributable to noncontrolling interests	0	0
Comprehensive (loss) income attributable to Quad common shareholders	9.6	16.4
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net loss	0.3	6
Other comprehensive income (loss), net of tax	(0.5)	3.9
Total comprehensive income (loss)	(0.2)	9.9
Less: comprehensive loss attributable to noncontrolling interests	(0.3)	0
Comprehensive (loss) income attributable to Quad common shareholders	$ 0.1	$ 9.9

Separate Financial Informatio_6

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 10.4	$ 69.5	$ 30.2	$ 64.4
Receivables, less allowances for doubtful accounts	512.3	528.7
Intercompany receivables	0	0
Inventories	283	300.6
Other current assets	50.2	47.8
Total current assets	855.9	946.6
Property, plant and equipment—net	1,235.9	1,257.4
Investment in consolidated entities	0	0
Goodwill and intangible assets—net	287.4	167.2
Intercompany loan receivable	0	0
Other long-term assets	224	97.9
Total assets	2,603.2	2,469.1
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	419.3	511
Intercompany accounts payable	0	0
Short-term debt and current portion of long-term debt and lease obligations	91.1	48
Other current liabilities	247.8	292.3
Total current liabilities	758.2	851.3
Long-term debt and lease obligations	1,181.5	892.9
Intercompany loan payable	0	0
Other long-term liabilities	243.6	264.7
Total liabilities	2,183.3	2,008.9
Total shareholders’ equity and noncontrolling interests	419.9	460.2
Total liabilities and shareholders’ equity	2,603.2	2,469.1
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Receivables, less allowances for doubtful accounts	0	0
Intercompany receivables	(125.7)	(182.7)
Inventories	0	0
Other current assets	0	0
Total current assets	(125.7)	(182.7)
Property, plant and equipment—net	0	0
Investment in consolidated entities	(909.9)	(773.7)
Goodwill and intangible assets—net	0	0
Intercompany loan receivable	(68.8)	(109.7)
Other long-term assets	0	0
Total assets	(1,104.4)	(1,066.1)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	0	0
Intercompany accounts payable	(125.7)	(182.7)
Short-term debt and current portion of long-term debt and lease obligations	0	0
Other current liabilities	0	0
Total current liabilities	(125.7)	(182.7)
Long-term debt and lease obligations	0	0
Intercompany loan payable	(68.8)	(109.7)
Other long-term liabilities	0	0
Total liabilities	(194.5)	(292.4)
Total shareholders’ equity and noncontrolling interests	(909.9)	(773.7)
Total liabilities and shareholders’ equity	(1,104.4)	(1,066.1)
Quad/Graphics, Inc.
ASSETS
Cash and cash equivalents	2.8	60.3	5.2	51.7
Receivables, less allowances for doubtful accounts	357.9	378
Intercompany receivables	0	0
Inventories	105.6	108.6
Other current assets	30.9	34.3
Total current assets	497.2	581.2
Property, plant and equipment—net	641.5	647.7
Investment in consolidated entities	891.8	757
Goodwill and intangible assets—net	2.2	1.7
Intercompany loan receivable	68.8	109.7
Other long-term assets	68.2	42.5
Total assets	2,169.7	2,139.8
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	233	265.5
Intercompany accounts payable	125.7	182.7
Short-term debt and current portion of long-term debt and lease obligations	44.7	29.7
Other current liabilities	141.9	182.6
Total current liabilities	545.3	660.5
Long-term debt and lease obligations	1,079.2	878.8
Intercompany loan payable	0	0
Other long-term liabilities	125.3	140.3
Total liabilities	1,749.8	1,679.6
Total shareholders’ equity and noncontrolling interests	419.9	460.2
Total liabilities and shareholders’ equity	2,169.7	2,139.8
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	3.9	2.9	2.7	2
Receivables, less allowances for doubtful accounts	69.3	63.3
Intercompany receivables	100	153.9
Inventories	124.3	121
Other current assets	9.8	4.3
Total current assets	307.3	345.4
Property, plant and equipment—net	441	451.6
Investment in consolidated entities	18.1	16.7
Goodwill and intangible assets—net	233	111.3
Intercompany loan receivable	0	0
Other long-term assets	101	10.4
Total assets	1,100.4	935.4
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	108.7	137.8
Intercompany accounts payable	0	0
Short-term debt and current portion of long-term debt and lease obligations	27.2	0.7
Other current liabilities	65	64.7
Total current liabilities	200.9	203.2
Long-term debt and lease obligations	78.7	1
Intercompany loan payable	0	42
Other long-term liabilities	110.8	115.4
Total liabilities	390.4	361.6
Total shareholders’ equity and noncontrolling interests	710	573.8
Total liabilities and shareholders’ equity	1,100.4	935.4
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	3.7	6.3	$ 22.3	$ 10.7
Receivables, less allowances for doubtful accounts	85.1	87.4
Intercompany receivables	25.7	28.8
Inventories	53.1	71
Other current assets	9.5	9.2
Total current assets	177.1	202.7
Property, plant and equipment—net	153.4	158.1
Investment in consolidated entities	0	0
Goodwill and intangible assets—net	52.2	54.2
Intercompany loan receivable	0	0
Other long-term assets	54.8	45
Total assets	437.5	460
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable	77.6	107.7
Intercompany accounts payable	0	0
Short-term debt and current portion of long-term debt and lease obligations	19.2	17.6
Other current liabilities	40.9	45
Total current liabilities	137.7	170.3
Long-term debt and lease obligations	23.6	13.1
Intercompany loan payable	68.8	67.7
Other long-term liabilities	7.5	9
Total liabilities	237.6	260.1
Total shareholders’ equity and noncontrolling interests	199.9	199.9
Total liabilities and shareholders’ equity	$ 437.5	$ 460

Separate Financial Informatio_7

Separate Financial Information of Subsidiary Guarantors of Indebtedness (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
OPERATING ACTIVITIES
Net cash from (used in) operating activities	$ (58.6)	$ 2.2
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(45.3)	(24.2)
Acquisition related investing activities	(121)	(73.9)
Intercompany investing activities	0	0
Other investing activities	8.1	17.7
Net cash used in investing activities	(158.2)	(80.4)
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	490.4	0
Payments of long-term debt and finance lease obligations	(535.9)	(6.6)
Borrowings on revolving credit facilities	1,239.3	245.5
Payments on revolving credit facilities	(990.1)	(174)
Payment of cash dividends	(19.2)	(17.2)
Intercompany financing activities	0	0
Other financing activities	(26.8)	(3.5)
Net cash provided by financing activities	157.7	44.2
Effect of exchange rates on cash and cash equivalents	0	(0.2)
Net decrease in cash and cash equivalents	(59.1)	(34.2)
Cash and cash equivalents at beginning of period	69.5	64.4
Cash and cash equivalents at end of period	10.4	30.2
Eliminations
OPERATING ACTIVITIES
Net cash from (used in) operating activities	0	0
INVESTING ACTIVITIES
Purchases of property, plant and equipment	0	0
Acquisition related investing activities	0	0
Intercompany investing activities	159.5	125
Other investing activities	0	0
Net cash used in investing activities	159.5	125
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	0
Payments of long-term debt and finance lease obligations	0	0
Borrowings on revolving credit facilities	0	0
Payments on revolving credit facilities	0	0
Payment of cash dividends	0	0
Intercompany financing activities	(159.5)	(125)
Other financing activities	0	0
Net cash provided by financing activities	(159.5)	(125)
Effect of exchange rates on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Quad/Graphics, Inc.
OPERATING ACTIVITIES
Net cash from (used in) operating activities	23.9	26.4
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(18.4)	(4.1)
Acquisition related investing activities	0	0
Intercompany investing activities	(169.8)	(139.4)
Other investing activities	3.6	13.5
Net cash used in investing activities	(184.6)	(130)
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	485
Payments of long-term debt and finance lease obligations	(532.5)	(4)
Borrowings on revolving credit facilities	1,230.5	238.6
Payments on revolving credit facilities	(979.8)	(168.6)
Payment of cash dividends	(19.2)	(17.2)
Intercompany financing activities	(54)	11.8
Other financing activities	(26.8)	(3.5)
Net cash provided by financing activities	103.2	57.1
Effect of exchange rates on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(57.5)	(46.5)
Cash and cash equivalents at beginning of period	60.3	51.7
Cash and cash equivalents at end of period	2.8	5.2
Guarantor Subsidiaries
OPERATING ACTIVITIES
Net cash from (used in) operating activities	(79.7)	(27.8)
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(22.1)	(12.2)
Acquisition related investing activities	(120.7)	(78.8)
Intercompany investing activities	10.4	14.5
Other investing activities	4.2	0.2
Net cash used in investing activities	(128.2)	(76.3)
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	0
Payments of long-term debt and finance lease obligations	(0.4)	(0.4)
Borrowings on revolving credit facilities	0	0
Payments on revolving credit facilities	0	0
Payment of cash dividends	0	0
Intercompany financing activities	209.3	105.2
Other financing activities	0	0
Net cash provided by financing activities	208.9	104.8
Effect of exchange rates on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	1	0.7
Cash and cash equivalents at beginning of period	2.9	2
Cash and cash equivalents at end of period	3.9	2.7
Non-Guarantor Subsidiaries
OPERATING ACTIVITIES
Net cash from (used in) operating activities	(2.8)	3.6
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(4.8)	(7.9)
Acquisition related investing activities	(0.3)	4.9
Intercompany investing activities	(0.1)	(0.1)
Other investing activities	0.3	4
Net cash used in investing activities	(4.9)	0.9
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt	5.4
Payments of long-term debt and finance lease obligations	(3)	(2.2)
Borrowings on revolving credit facilities	8.8	6.9
Payments on revolving credit facilities	(10.3)	(5.4)
Payment of cash dividends	0	0
Intercompany financing activities	4.2	8
Other financing activities	0	0
Net cash provided by financing activities	5.1	7.3
Effect of exchange rates on cash and cash equivalents	0	(0.2)
Net decrease in cash and cash equivalents	(2.6)	11.6
Cash and cash equivalents at beginning of period	6.3	10.7
Cash and cash equivalents at end of period	$ 3.7	$ 22.3

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Millions	Apr. 30, 2019$ / shares	Oct. 30, 2018USD ($)	Mar. 31, 2019$ / shares	Mar. 31, 2018$ / shares	Feb. 22, 2019
Subsequent Event [Line Items]
Business acquisition, percentage of vote approval					99.70%
Business combination, common stock conversion ratio		0.625
Dividends declared per share (in dollars per share)			$ 0.30	$ 0.30
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.30
LSC Communications
Subsequent Event [Line Items]
Business combination, consideration transferred | $		$ 1,300