LSC Communications (LKSDQ) 10-Q 2 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 27, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	LKSD
Entity Registrant Name	LSC Communications, Inc.
Entity Central Index Key	1,669,812
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		33,371,218

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 22	$ 34
Receivables, less allowances for doubtful accounts of $15 in 2018 (2017: $11)	682	727
Inventories (Note 4)	252	238
Prepaid expenses and other current assets	53	47
Total current assets	1,009	1,046
Property, plant and equipment-net (Note 5)	544	576
Goodwill (Note 6)	82	82
Other intangible assets-net (Note 6)	151	160
Deferred income taxes	39	51
Other noncurrent assets	96	99
Total assets	1,921	2,014
LIABILITIES
Accounts payable	324	406
Accrued liabilities	203	239
Short-term and current portion of long-term debt (Note 9)	234	123
Total current liabilities	761	768
Long-term debt (Note 9)	680	699
Pension liabilities	145	182
Restructuring and multi-employer pension liabilities (Note 7)	47	49
Other noncurrent liabilities	67	68
Total liabilities	1,700	1,766
Commitments and contingencies (Note 8)
EQUITY (Note 10)
Common stock, $0.01 par value Authorized: 65,000,000 shares; Issued: 34,882,123 shares in 2018 (2017: 34,610,931)	0	0
Additional paid-in-capital	823	816
Accumulated deficit	(5)	(90)
Accumulated other comprehensive loss (Note 13)	(574)	(476)
Treasury stock, at cost: 1,834,161 shares in 2018 (2017: 100,256)	(23)	(2)
Total equity	221	248
Total liabilities and equity	$ 1,921	$ 2,014

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 15	$ 11
Common stock, par value	$ 0.01	$ 0.01
Common stock, Authorized	65,000,000	65,000,000
Common stock, Issued	34,882,123	34,610,931
Treasury stock, shares	1,834,161	100,256

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Net sales	$ 943	$ 848	$ 1,872	$ 1,669
Type of Revenue [Extensible List]	lksd:ProductAndServicesMember	lksd:ProductAndServicesMember	lksd:ProductAndServicesMember	lksd:ProductAndServicesMember
Cost of sales	$ 798	$ 705	$ 1,606	$ 1,397
Type of Cost, Good or Service [Extensible List]	lksd:ProductAndServicesMember	lksd:ProductAndServicesMember	lksd:ProductAndServicesMember	lksd:ProductAndServicesMember
Selling, general and administrative expenses (exclusive of depreciation and amortization)	$ 82	$ 76	$ 165	$ 152
Restructuring, impairment and other charges-net (Note 7)	11	21	17	27
Depreciation and amortization	34	39	72	79
Income from operations	18	7	12	14
Interest expense-net	18	16	38	33
Investment and other (income)-net	(13)	(12)	(24)	(23)
Income (loss) before income taxes	13	3	(2)	4
Income tax expense (benefit)	5	(2)	1	0
Net income (loss)	$ 8	$ 5	$ (3)	$ 4
Net earnings (loss) per common share (Note 11):
Basic net earnings (loss) per share	$ 0.24	$ 0.13	$ (0.09)	$ 0.11
Diluted net earnings (loss) per share	0.23	0.12	(0.09)	0.11
Dividends declared per common share	$ 0.26	$ 0.25	$ 0.52	$ 0.50
Weighted average number of common shares outstanding:
Basic	34	33.5	34.3	33.1
Diluted	34.3	33.8	34.3	33.4

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 8	$ 5	$ (3)	$ 4
Other comprehensive (loss) income, net of tax (Note 13)
Translation adjustments	(14)	9	(9)	18
Adjustments for net periodic pension plan cost	4	2	8	5
Other comprehensive (loss) income	(10)	11	(1)	23
Comprehensive (loss) income	$ (2)	$ 16	$ (4)	$ 27

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Adjustments for net pension plan cost, tax expense	$ 1	$ 2	$ 2	$ 3

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows from Operating Activities
Net (loss) income	$ (3)	$ 4
Adjustments to reconcile net loss (income) to net cash (used in) provided by operating activities:
Depreciation and amortization	72	79
Provision for doubtful accounts receivable	4	1
Share-based compensation	8	7
Deferred income taxes	4	(1)
Other	4	(2)
Changes in operating assets and liabilities - net of acquisitions:
Accounts receivable – net	61	66
Inventories	(49)	(4)
Prepaid expenses and other current assets	(4)	(3)
Accounts payable	(81)	(4)
Income taxes payable and receivable	2	(10)
Accrued liabilities and other	(44)	(55)
Net cash (used in) provided by operating activities	(26)	78
Cash Flows from Investing Activities
Capital expenditures	(37)	(36)
Acquisitions of businesses, net of cash acquired	4	(5)
Proceeds from sales of investments	0	3
Proceeds from sales of other assets	1	6
Net cash (used in) investing activities	(32)	(32)
Cash Flows from Financing Activities
Payments of current maturities and long-term debt	(26)	(52)
Net proceeds from credit facility borrowings	115	0
Proceeds from issuance of common stock	0	18
Payments for repurchase of common stock	(20)	0
Dividends paid	(18)	(16)
Other financing activities	(1)	0
Payments from RRD – net	0	3
Net cash provided by (used in) financing activities	50	(47)
Effect of exchange rate on cash and cash equivalents	(2)	4
Net (decrease) increase in cash, cash equivalents and restricted cash	(10)	3
Cash, cash equivalents and restricted cash at beginning of year	35	97
Cash, cash equivalents and restricted cash at end of period	$ 25	$ 100

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Reconciliation to the Condensed Consolidated Balance Sheets
Cash and cash equivalents	$ 22	$ 34
Restricted cash included in prepaid expenses and other current assets	$ 3	$ 1
Restricted Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]	us-gaap:PrepaidExpenseAndOtherAssetsCurrent	us-gaap:PrepaidExpenseAndOtherAssetsCurrent
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 25	$ 35

Overview and Basis of Presentat

Overview and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Overview and Basis of Presentation	Note 1. Overview and Basis of Presentation Description of Business The principal business of LSC Communications, Inc., a Delaware corporation, and its direct or indirect wholly-owned subsidiaries (“LSC Communications,” “the Company,” “we,” “our” and “us”) is to offer a broad scope of traditional and digital print, print-related services and office products. The Company serves the needs of publishers, merchandisers and retailers worldwide with a service offering that includes e-services, logistics, warehousing and fulfillment and supply chain management. The Company utilizes a broad portfolio of technology capabilities coupled with consultative attention to clients' needs to increase speed to market, reduce costs, provide postal savings to customers and improve efficiencies. Description of Separation On October 1, 2016 (the “separation date”), R. R. Donnelley & Sons Company (“RRD” or the “Parent”) completed the previously announced separation (the “separation”) into three separate independent publicly-traded companies: (i) its publishing and retail-centric print services and office products business (“LSC Communications”); (ii) its financial communications services business (“Donnelley Financial Solutions, Inc.” or “Donnelley Financial”) and (iii) a global, customized multichannel communications management company, which is the business of RRD after the separation. To effect the separation, RRD undertook a series of transactions to separate net assets and legal entities. RRD completed the distribution (the “distribution”) of 80.75% of the outstanding common stock of LSC Communications and Donnelley Financial to RRD stockholders on October 1, 2016. RRD retained a % ownership stake in both LSC Communications and Donnelley Financial. On October 1, 2016, RRD stockholders of record as of the close of business on September 23, 2016 (“the record date”) received one share of LSC Communications common stock and one share of Donnelley Financial common stock for every eight shares of RRD common stock held as of the record date. . Basis of Presentation The condensed consolidated financial statements include the balance sheets, statements of operations and cash flows in conformity with accounting principles generally accepted in the United States (“GAAP”). All intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim 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. Certain prior year amounts were restated to conform to the Company’s current statement of operations and cash flows classifications. The Company adopted Accounting Standards Update No. 2017-07 “Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (“ASU 2017-07”) in the first quarter of 2018. As a result of the adoption of ASU 2017-07, the Company will reclassify $46 million and $45 million related to the years ended December 31, 2017 and 2016, respectively, of net pension income out of income from operations to investment and other (income)-net, resulting in no impact to net income. The Company reclassified $12 million and $23 million of net pension income from selling, general and administrative expenses to investment and other income-net in the condensed consolidated statement of operations for the three and six months ended June 30, 2017. The Company adopted in the first quarter of 2018. The standard amounts generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard does not provide a definition of restricted cash or restricted cash equivalents. The standard requires a retrospective transition method to be applied to each period presented. The Company included a reconciliation of beginning-of-period and end-of-period amounts in condensed consolidated statements of cash flows to the condensed consolidated balance sheets. U.S. Tax Cuts and Jobs Act (“Tax Act”) The Company’s accounting for the Tax Act remains provisional for amounts recorded as of December 31, 2017. As disclosed in the Company’s annual report on Form 10-K (Note 14, Income Taxes global intangible low-taxed income (“GILTI”) The Company has not made any additional measurement-period adjustments related to these items during the six months ended June 30, 2018. The Company is continuing to gather additional information to complete the accounting for these items and expects to complete the accounting within the prescribed measurement period.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Business Combinations	Note 2. Business Combinations 2017 Acquisitions On November 29, 2017, the Company acquired The Clark Group, (“Clark Group”), a third-party logistics provider of distribution, consolidation, transportation management and international freight forwarding services. The acquisition enhanced the Company’s logistics service offering. The total purchase price was $25 million in cash, of which $16 million was recorded in goodwill. On November 9, 2017, the Company acquired Quality Park, a producer of envelopes, mailing supplies and assorted packaging items. The acquisition enhanced the Company’s office products offerings. On September 7, 2017, the Company acquired Publishers Press, a printing provider with capabilities such as web-offset printing, prepress and distribution services for magazines and retail brands. The acquisition enhanced the Company’s printing capabilities. The total purchase price was $68 million in cash, of which $1 million was recorded in goodwill. On August 21, 2017, the Company acquired the assets of NECI, LLC (“NECI”), a supplier of commodity and specialty filing supplies On On July 28, 2017, the Company acquired Fairrington Transportation Corp., F.T.C. Transport, Inc. and F.T.C. Services, Inc. (“Fairrington”), a full-service, printer-independent mailing logistics provider in the United States. The acquisition enhanced the Company’s logistics service offering. The purchase price was $19 million in cash and approximately 1.0 million shares of LSC Communications common stock, for a total transaction value of $39 million. Of the total purchase price, $22 million was recorded in goodwill. On March 1, 2017, the Company acquired HudsonYards Studios (“HudsonYards”), a digital and print premedia production company that provides high-quality creative retouching, computer-generated imagery, mechanical creation, press-ready file preparation, and interactive production services. The acquisition enhanced the Company’s digital and premedia capabilities. The purchase price for HudsonYards was $3 million in cash, of which $2 million was recorded in goodwill. The operations of Clark Group, Publishers Press, CREEL, Fairrington, and HudsonYards are included in the Print segment; specifically the magazines, catalogs and retail inserts reporting unit. The operations of Quality Park and NECI are included in the Office Products segment. The acquisitions were recorded by allocating the cost of the acquisitions to the assets acquired, including other intangible assets, based on their estimated fair values at the acquisition date. The excess of the cost of the acquisitions over the net amounts assigned to the fair value of the assets acquired was recorded in goodwill. The goodwill is primarily attributable to the synergies expected to arise as a result of the acquisitions. The preliminary tax deductible goodwill related to the Clark Group, Quality Park, Publishers Press, NECI, CREEL, Fairrington, and HudsonYards acquisitions was $38 million. The purchase price allocation for Quality Park is preliminary as of June 30, 2018 as the finalization of the working capital adjustment is pending. The primary areas that are not yet finalized relate to the valuation of certain assets and liabilities. The final purchase price allocation may differ from what is currently reflected in the condensed consolidated financial statements and could affect goodwill impairment in the future. The purchase price allocations for the Clark Group, Publishers Press, NECI, CREEL, Fairrington, and HudsonYards are final as of June 30, 2018. There were no significant changes to the purchase price allocations for all acquisitions as of June 30, 2018 compared to the disclosed purchase price allocations in the Company’s annual report on Form 10-K for the year ended December 31, 2017. The purchase price allocations for the material acquisitions noted above were as follows: Clark Group Quality Park Publishers Press CREEL Fairrington Accounts Receivable $ 6 $ 19 $ 27 $ 12 $ 6 Inventories — 27 13 5 — Prepaid expenses and other current assets — 1 1 1 — Property, plant and equipment — 8 36 20 6 Other intangible assets 14 1 — 23 17 Other noncurrent assets — — 1 — 1 Goodwill (bargain purchase) 16 (2 ) 1 26 22 Accounts payable and accrued liabilities (8 ) (11 ) (14 ) (9 ) (4 ) Deferred taxes – net (3 ) (2 ) — — (9 ) Purchase price, net of cash acquired $ 25 $ 41 $ 65 $ 78 $ 39 Less: value of common stock issued — — — — 20 Less: accrued but unpaid contingent consideration — — — 1 — Net cash paid $ 25 $ 41 $ 65 $ 77 $ 19 In accordance with ASC 350, Intangibles — Goodwill and Other As a result of the goodwill impairment tests, and consistent with prior goodwill impairment tests, the magazines, catalogs and retail inserts reporting unit’s fair value continued to be at a value below its carrying value. This is primarily due to the negative revenue trends experienced in recent years that are only partially offset by the impact of the new acquisitions. The charges to recognize the impairment of goodwill in the magazines, catalogs and retail inserts reporting unit were $55 million and $18 million during the three months ended September 30, 2017 and December 31, 2017, respectively. The total charge was $73 million for 2017, resulting in zero goodwill associated with the magazines, catalogs and retail inserts reporting unit as of December 31, 2017. The fair values of goodwill, other intangible assets and property, plant and equipment associated with the acquisitions were determined to be Level 3 under the fair value hierarchy, which included discounted cash flow analyses, comparable marketplace fair value data and management’s assumptions for the goodwill impairment charges. Property, plant and equipment values were estimated using either the cost or market approach, if a secondhand market existed. For the three and six months ended June 30, 2018, the Company recorded $1 million and $2 million of acquisition-related expenses, respectively, associated with the completed and contemplated acquisitions within selling, general and administrative expenses in the condensed consolidated statements of operations. For both the three and six months ended June 30, 2017, there were $1 million of acquisition-related expenses associated with the completed and contemplated acquisitions. Pro forma results The following unaudited pro forma financial information for the three and six months ended June 30, 2018 and 2017 presents the condensed consolidated statements of operations of the Company and the acquisitions described above, as if the acquisitions had occurred as of January 1 of the year prior to the acquisitions. The unaudited pro forma financial information is not intended to represent or be indicative of the Company’s condensed consolidated statements of operations that would have been reported had these acquisitions been completed as of the beginning of the period presented and should not be taken as indicative of the Company’s future condensed consolidated statements of operations. Pro forma adjustments are tax-effected at the applicable statutory tax rates. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net sales $ 943 $ 967 $ 1,872 $ 1,909 Net income (loss) 8 3 (2 ) (1 ) Net earnings (loss) per common share Basic $ 0.24 $ 0.09 $ (0.06 ) $ (0.03 ) Diluted $ 0.23 $ 0.09 $ (0.06 ) $ (0.03 ) The following table outlines unaudited pro forma financial information for the three and six months ended June 30, 2018 and 2017: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Amortization of purchased intangibles $ 4 $ 5 $ 9 $ 11 The nonrecurring pro forma adjustments affecting net loss for the three and six months ended June 30, 2018 and 2017 were de minimis.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 3. Revenue Recognition Financial Statement Impact of Adopting ASC 606 The Company adopted Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers (Topic 606)” (“ASC 606”, or the “standard”) on January 1, 2018 using the modified retrospective method for all contracts not completed as of the date of adoption. The reported results for 2018 reflect the application of ASC 606 guidance while the reported results for 2017 were prepared and continue to be reported under the guidance of ASC 605, Revenue Recognition The Company assessed all aspects of the standard’s potential impact and focused further assessment on customized products, deferred revenue and certain items in inventory, which are areas that were determined could have had a material impact on the Company’s accounting for revenue. Potential impacts of other aspects of the standard have not had a material impact to the Company’s accounting for revenue. The Company completed the evaluation of whether the accounting for revenue from customized products should be over time or at a point in time under the standard. Based on analysis of specific terms associated with current customer contracts, the Company concluded that revenue should be recognized at a point in time for substantially all customized products. This treatment is consistent with revenue recognition under previous guidance, where revenue was recognized when the products were completed and shipped to the customer (dependent upon specific shipping terms). Any contracts whereby revenue for customized products should be recognized over time, as opposed to a point in time, are immaterial due to the de minimis nature of any particular order under such contracts in production at any given point in time. As revenue recognition is dependent upon individual contractual terms, the Company will continue its evaluation of any new or amended contracts entered into, including contracts that the Company might assume as a result of acquisition activity. With respect to deferred revenue and certain items in inventory, the Company determined ASC 606 impacted the following situations: • Completed production billed to the customer but not yet shipped: Under previous guidance, for a majority of these situations the Company deferred revenue for completed production items for which the customer had requested to be billed (or for which the Company is entitled to bill under the contract), but for which the production items had not yet shipped to the customer. Under ASC 606, based upon our evaluation of the contractual terms, the Company is typically able to recognize revenue once it completes production depending on the specific facts and circumstances. • Completed production held in inventory (including consigned inventory): With certain customer contracts, the Company is permitted to complete a pre-defined amount of product and hold such inventory until the customer requests shipment (which generally is required to be delivered in the same year as production). For these items, the Company has the contractual right to receive payment once the production is completed, regardless of the ultimate delivery date. Under previous guidance, the Company held this as inventory and recognized revenue upon shipment to the customer. Under ASC 606, based upon our evaluation of the contractual terms, the Company is able to recognize revenue once it completes production. • Safety stock: In very limited situations, the Company is permitted to produce and hold in inventory a pre-defined amount of safety stock. Similar to completed production held in inventory, for these items the Company has the contractual right to receive payment for the pre-defined amount once the production is completed, regardless of the ultimate delivery date. Under previous guidance, the Company held this as inventory and recognized revenue upon shipment to the customer. Under ASC 606, based upon our evaluation of the contractual terms, the Company is able to recognize revenue once it completes production. Upon adoption of ASC 606, the Company eliminated any deferred revenue and inventory associated with the above three categories against its accumulated deficit within total equity. Based upon the balances that existed as of December 31, 2017, the Company recorded adjustments to the following accounts as of January 1, 2018: As Reported Adjustments Adjusted December 31, Adoption of January 1, 2017 ASC 606 2018 Assets Receivables, net $ 727 $ 32 $ 759 Inventories 238 (32 ) 206 Deferred income taxes 51 (3 ) 48 Liabilities Accrued liabilities $ 239 $ (12 ) $ 227 Equity (Accumulated deficit) retained earnings $ (90 ) $ 9 $ (81 ) As a result of the above adjustments, total assets decreased by $3 million, total liabilities decreased by $12 million and total equity increased by $9 million. The equity adjustment was net of tax of $3 million. The following tables compare impacted accounts from the reported condensed consolidated balance sheet and statement of operations, as of and for the six months ended June 30, 2018, to their pro forma amounts had the previous guidance been in effect: June 30, 2018 As Reported Adjustments Adoption of ASC 606 Pro forma as if the previous standard was in effect Assets Receivables, net $ 682 $ (33) $ 649 Inventories 252 13 265 Deferred income taxes 39 3 42 Liabilities Accrued liabilities $ 203 $ 6 $ 209 Equity Accumulated deficit $ (5 ) $ (7 ) $ (12 ) The difference between the reported balances and the pro forma balances above is due to the deferred revenue and inventory in the pro forma balances associated with completed production billed to the customer but not yet shipped, completed production held in inventory (including consigned inventory) and safety stock. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 As Reported Adjustments Adoption of ASC 606 Pro forma as if the previous standard was in effect As Reported Adjustments Adoption of ASC 606 Pro forma as if the previous standard was in effect Net sales $ 943 $ (4) $ 939 $ 1,872 $ 6 $ 1,878 Cost of sales 798 (4 ) 794 1,606 4 1,610 Income tax expense 5 — 5 1 — 1 Net earnings (loss) per common share Basic net earnings (loss) per share $ 0.24 $ — $ 0.24 $ (0.09 ) $ 0.06 $ (0.03 ) Diluted net earnings (loss) per share 0.23 — 0.23 (0.09 ) 0.06 (0.03 ) The differences between the reported balances and the pro forma balances above are due to the following impacts: • The completed production items for which control has passed to the customer and the customer had requested to be billed (or for which the Company is entitled to bill under the contract), but for which the production items had not yet shipped. Under ASC 606, the Company recognizes revenue for items for which control has passed to the customer, which is typically once it completes production, while under previous guidance revenue would have been deferred until the production items were shipped. • Variable consideration relating to paper over-consumption penalties and under-consumption credits that are part of certain customer contracts and were previously recorded in cost of sales are now recorded within revenue. The adoption of ASC 606 had no impact on the Company’s cash flows from operating activities. Revenue Recognition Policy The Company recognizes revenue at a point in time for substantially all customized products. The point in time when revenue is recognized is when the upon shipment to the customer (dependent upon specific shipping terms). Under agreements with certain customers, custom products may be stored by the Company for future delivery. Based upon contractual terms, the Company is typically able to recognize revenue once the performance obligation is satisfied and the customer obtains control of the completed product, usually when it completes production (depending on the specific facts and circumstances). With certain customer contracts, the Company is permitted to complete a pre-defined amount of custom products and hold such inventory until the customer requests shipment (which generally is required to be delivered in the same year as production). For these items, which include consigned inventory, the Company has the contractual right to receive payment once the production is completed, regardless of the ultimate delivery date. Based upon contractual terms, the Company recognizes revenue once the performance obligation has been satisfied and the customer obtains control of the completed products, usually when production is completed. In very limited situations, the Company is permitted to produce and hold in inventory a pre-defined amount of custom products as safety stock. Similar to completed production held in inventory, for these items the Company has the contractual right to receive payment for the pre-defined amount once the production is completed, regardless of the ultimate delivery date. Based upon our evaluation of the contractual terms, the Company is able to recognize revenue once the performance obligation has been satisfied and the customer obtains control of the completed products, usually when production is completed. Revenue from the Company’s print related services (including list processing, mail sortation services and supply chain management) is recognized as services are completed over time. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services, which is based on transaction prices set forth in contracts with customers and an estimate of variable consideration, as applicable. Variable consideration resulting from volume rebates, fixed rebates, penalties or credits for paper consumption, and sales discounts that are offered within contracts between the Company and its customers is recognized in the period the related revenue is recognized. Estimates of variable consideration are based on stated contract terms and an analysis of historical experience. The amount of variable consideration is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, such as co-mail and catalog production, the transaction price allocated to each performance obligation is based on the price stated in the customer contract, which represents the Company’s best estimate of the standalone selling price of each distinct good or service in the contract. Billings for shipping and handling costs are recorded gross. The Company made an accounting policy election under ASC 606 to account for shipping and handling after the customer obtains control of the good as fulfillment activities rather than as a separate service to the customer. As a result, the Company accrues the costs of the shipping and handling if revenue is recognized for the related good before the fulfillment activities occur. Many of the Company’s operations process materials, primarily paper, that may be supplied directly by customers or may be purchased by the Company and sold to customers as part of the end product. No revenue is recognized for customer-supplied paper, but revenues for Company-supplied paper are recognized on a gross basis. As a result, the Company’s reported sales and margins may be impacted by the mix of customer-supplied paper and Company-supplied paper. The Company records taxes collected from customers and remitted to governmental authorities on a net basis. Contracts do not contain a significant financing component as payment terms on invoiced amounts are typically between 30 to 120 days, based on the Company’s credit assessment of individual customers, as well as industry expectations. The timing of revenue recognition, billings and cash collections results in accounts receivable and unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the condensed consolidated balance sheet. Revenue recognition generally coincides with the Company’s contractual right to consideration and the issuance of invoices to customers. Depending on the nature of the performance obligation and arrangements with customers, the timing of the issuance of invoices may result in contract assets or contract liabilities. Contract assets related to unbilled receivables are recognized for satisfied performance obligations for which the Company cannot yet issue an invoice. Contract liabilities result from advances or deposits from customers on performance obligations not yet satisfied. Because the majority of the Company’s products are customized, product returns are not significant; however, the Company accrues for the estimated amount of customer returns at the time of sale. Disaggregated Revenue The following table provides information about disaggregated revenue by major products/service lines and timing of revenue recognition, and includes a reconciliation of the disaggregated revenue with reportable segments. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Print Office Products Total Print Office Products Total Major Products/Service Lines Book (a) $ 266 $ — $ 266 $ 515 $ — $ 515 Magazines, Catalogs and Retail Inserts (b) $ 493 $ — $ 493 $ 1,019 $ — $ 1,019 North America 442 — 442 910 — 910 Europe 51 — 51 109 — 109 Directories $ 30 $ — $ 30 $ 61 $ — $ 61 North America 25 — 25 52 — 52 Europe 5 — 5 9 — 9 Office Products $ — $ 154 $ 154 $ — $ 277 $ 277 Total $ 789 $ 154 $ 943 $ 1,595 $ 277 $ 1,872 Timing of Revenue Recognition Products and services transferred at a point in time $ 683 $ 154 $ 837 $ 1,385 $ 277 $ 1,662 Products and services transferred over time 106 — 106 210 — 210 Total $ 789 $ 154 $ 943 $ 1,595 $ 277 $ 1,872 (a) Includes the premedia services, e-book formatting and supply chain management associated with book production. (b) Includes premedia, co-mail and logistics services associated with the production of catalogs and magazines. Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: June 30, 2018 January 1, 2018 Trade receivables $ 554 $ 647 Short-term contract assets 33 31 Long-term contract assets 35 36 Short-term contract liabilities 19 21 Significant changes in the contract assets and the contract liabilities balances during the period are as follows: Six Months Ended June 30, Contract Assets Contract Liabilities Revenue recognized that was included in contract liabilities as of January 1, 2018 $ — $ (17 ) Increases due to cash received — 15 Payment of contract acquisition costs 5 — Additions to unbilled accounts receivable 22 — Amortization of contract acquisition costs (6 ) — Unbilled accounts receivable recognized as receivables (20 ) — Transactions affecting the allowances for doubtful accounts receivable balance during the six months ended June 30, 2018 were as follows: June 30, 2018 Balance, beginning of year $ 11 Provisions charged to expense 4 Balance, end of period $ 15 Contract Acquisition Costs In connection with the adoption of ASC 606, the Company is required to capitalize certain contract acquisition costs. As of December 31, 2017 under previous guidance, the Company had capitalized $36 million in contract acquisition costs related to contracts that were not completed. The Company did not have any other costs that were required to be capitalized on January 1, 2018 with the adoption of ASC 606. For contracts that have a duration of less than one year, the Company follows the ASC 606 practical expedient approach and expenses these costs when incurred; for contracts with life exceeding one year, the Company records these costs in proportion to each completed contract performance obligation. For the three and six months ended June 30, 2018, the amount of amortization was $3 million and $6 million, respectively, and there was no impairment loss in relation to costs capitalized.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Note 4. Inventories The components of the Company’s inventories, net of excess and obsolescence reserves for raw materials and finished goods, at June 30, 2018 and December 31, 2017 were as follows: June 30, December 31, 2018 2017 Raw materials and manufacturing supplies $ 154 $ 114 Work in process 64 69 Finished goods 92 112 Last in, first out ("LIFO") reserve (58 ) (57 ) Total $ 252 $ 238

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2018
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, Plant and Equipment The components of the Company’s property, plant and equipment at June 30, 2018 and December 31, 2017 were as follows: June 30, December 31, 2018 2017 Land $ 44 $ 45 Buildings 732 739 Machinery and equipment 3,956 4,012 4,732 4,796 Accumulated depreciation (4,188 ) (4,220 ) Total $ 544 $ 576 During the three and six months ended June 30, 2018, depreciation expense was $ Assets Held for Sale Primarily as a result of restructuring actions, certain facilities and equipment are considered held for sale. The net book value of assets held for sale was $10 million at June 30, 2018 and $7 million at December 31, 2017. These assets were included in prepaid expenses and other current assets in the condensed consolidated balance sheets at the lower of their historical net book value or their estimated fair value, less estimated costs to sell.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6. Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill for the six months ended June 30, 2018 were as follows: Print Office Products Total Net book value as of December 31, 2017 Goodwill $ 934 $ 110 $ 1,044 Accumulated impairment losses (883 ) (79 ) (962 ) Total 51 31 82 Net book value as of June 30, 2018 Goodwill 929 110 1,039 Accumulated impairment losses (878 ) (79 ) (957 ) Total $ 51 $ 31 $ 82 The components of other intangible assets at June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 December 31, 2017 Gross Carrying Accumulated Net Book Gross Carrying Accumulated Net Book Amount Amortization Value Amount Amortization Value Customer relationships $ 256 $ (133 ) $ 123 $ 256 $ (125 ) $ 131 Trade names 9 (5 ) 4 9 (4 ) 5 Total amortizable other intangible assets 265 (138 ) 127 265 (129 ) 136 Indefinite-lived trade names 24 — 24 24 — 24 Total other intangible assets $ 289 $ (138 ) $ 151 $ 289 $ (129 ) $ 160 During the three and six months ended June 30, 2018, amortization expense for other intangible assets was $4 million and $9 million, respectively. During the three and six months ended June 30, 2017, amortization expense for other intangible assets was $4 million and $8 million, respectively. The following table outlines the estimated annual amortization expense related to other intangible assets: For the year ending December 31, Amount 2018 $ 17 2019 16 2020 16 2021 14 2022 13 2023 and thereafter 60 Total $ 136

Restructuring, Impairment and O

Restructuring, Impairment and Other Charges	6 Months Ended
	Jun. 30, 2018
Restructuring And Related Activities [Abstract]
Restructuring, Impairment and Other Charges	Note 7. Restructuring, Impairment and Other Charges For the three and six months ended June 30, 2018 and 2017, the Company recorded the following net restructuring, impairment and other charges: Three Months Ended June 30, 2018 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 2 $ 6 $ 8 $ — $ 1 $ 9 Office Products — 1 1 — — 1 Corporate 1 — 1 — — 1 Total $ 3 $ 7 $ 10 $ — $ 1 $ 11 Three Months Ended June 30, 2017 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 3 $ 2 $ 5 $ — $ 1 $ 6 Corporate — 15 15 — — 15 Total $ 3 $ 17 $ 20 $ — $ 1 $ 21 Six Months Ended June 30, 2018 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 5 $ 9 $ 14 $ (1 ) $ 1 $ 14 Office Products 1 1 2 — — 2 Corporate 1 — 1 — — 1 Total $ 7 $ 10 $ 17 $ (1 ) $ 1 $ 17 Six Months Ended June 30, 2017 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 6 $ 3 $ 9 $ — $ 2 $ 11 Office Products 1 — 1 — — 1 Corporate — 15 15 — — 15 Total $ 7 $ 18 $ 25 $ — $ 2 $ 27 Restructuring and Impairment Charges For the three and six months ended June 30, 2018, the Company incurred employee-related restructuring charges of $3 million and $7 million for an aggregate of 304 employees, of whom 224 were terminated as of or prior to June 30, 2018. These charges primarily related to the closure of one facility in the Print segment and the reorganization of certain business units and corporate functions. For the three and six months ended June 30, 2017, the Company incurred employee-related restructuring charges of $3 million and $7 million for an aggregate of 504 employees, substantially all of whom were terminated as of or prior to June 30, 2018. These charges primarily related to the announcement of one facility closure in the Print segment and the reorganization of certain business units and corporate functions. Additionally, the Company incurred other restructuring charges of $17 million and $18 million for the three and six months ended June 30, 2017, respectively, primarily related to charges incurred as a result of a terminated supplier contract and the exit from certain operations and facilities. Other Charges For each of the three and six months ended June 30, 2018, the Company recorded $1 million of other charges for multiemployer pension plan withdrawal obligations unrelated to facility closures. The total liability for the withdrawal obligations associated with the Company’s decision to withdraw from certain multiemployer pension plans included $3 million in accrued liabilities and $19 million in restructuring and multiemployer pension liabilities at June 30, 2018. The Company’s withdrawal liabilities could be affected by the financial stability of other employers participating in such plans and any decisions by those employers to withdraw from such plans in the future. While it is not possible to quantify the potential impact of future events or circumstances, reductions in other employers’ participation in multiemployer pension plans, including certain plans from which the Company has previously withdrawn, could have a material effect on the Company’s previously estimated withdrawal liabilities and condensed consolidated balance sheets, statements of operations and cash flows. For the three and six months ended June 30, 2017, the Company recorded other charges of $1 million and $2 million, respectively, for multiemployer pension plan withdrawal obligations unrelated to facility closures. Restructuring Reserve The restructuring reserve as of June 30, 2018 and December 31, 2017, and changes during the six months ended June 30, 2018 were as follows: December 31, 2017 Restructuring Charges Other Cash Paid June 30, 2018 Employee terminations $ 8 $ 7 $ — $ (9 ) $ 6 Multiemployer pension plan withdrawal obligations 16 1 19 (3 ) 33 Other 2 6 — (5 ) 3 Total $ 26 $ 14 $ 19 $ (17 ) $ 42 The current portion of restructuring reserves of $14 million at June 30, 2018 was included in accrued liabilities, while the long-term portion of $28 million, which primarily related to multiemployer pension plan withdrawal obligations related to facility closures, was included in restructuring and multiemployer pension liabilities at June 30, 2018. During the three months ended March 31, 2018, the Company reclassified $19 million of multiemployer pension plan withdrawal obligations from non-restructuring liabilities to restructuring liabilities, of which $3 million and $16 million were recorded in the current and long-term portions of the reserves, respectively. The reclassification was primarily due to a facility closure in the Print segment during the three months ended March 31, 2018. The Company anticipates that payments associated with the employee terminations reflected in the above table will be substantially completed by June 30, 2019. Payments on all of the Company’s multiemployer pension plan withdrawal obligations are scheduled to be completed by 2034. Changes based on uncertainties in these estimated withdrawal obligations could affect the ultimate charges related to multiemployer pension plan withdrawals. The restructuring liabilities classified as “other” consisted of other facility closing costs.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies The Company is subject to laws and regulations relating to the protection of the environment. The Company accrues for expenses associated with environmental remediation obligations when such amounts are probable and can be reasonably estimated. Such accruals are adjusted as new information develops or circumstances change and are generally not discounted. The Company has been designated as a potentially responsible party or has received claims in ten The Company’s understanding of the financial strength of other potentially responsible parties at the multiparty sites and of other liable parties at the previously owned facilities has been considered, where appropriate, in the determination of the Company’s estimated liability. The Company established reserves, recorded in accrued liabilities and other noncurrent liabilities, that it believes are adequate to cover its share of the potential costs of remediation at each of the multiparty sites and the previously and currently owned facilities. It is not possible to quantify with certainty the potential impact of actions regarding environmental matters, particularly remediation and other compliance efforts that the Company may undertake in the future. However, in the opinion of management, compliance with the present environmental protection laws, before taking into account estimated recoveries from third parties, will not have a material effect on the Company’s condensed consolidated balance sheets, statements of operations and cash flows. From time to time, the Company’s customers and others file voluntary petitions for reorganization under United States bankruptcy laws. In such cases, certain pre-petition payments received by the Company from these parties could be considered preference items and subject to return. In addition, the Company may be party to certain litigation arising in the ordinary course of business. Management believes that the final resolution of these preference items and litigation will not have a material effect on the Company’s condensed consolidated balance sheets, statements of operations and cash flows.

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Note 9. Debt The Company’s debt at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 December 31, 2017 Borrowings under the Revolving Credit Facility $ 190 $ 75 Term Loan Facility due September 30, 2022 (a) 282 306 8.75% Senior Secured Notes due October 15, 2023 450 450 Capital lease and other obligations 3 3 Unamortized debt issuance costs (11 ) (12 ) Total debt 914 822 Less: current portion (234 ) (123 ) Long-term debt $ 680 $ 699 (a) The borrowings under the Term Loan Facility are subject to a variable interest rate. As of June 30, 2018 and December 31, 2017, the interest rate was 7.59% and 7.07%, respectively. __________________________________ On September 30, 2016, the Company issued $450 million of Senior Secured Notes (the “Senior Notes”). On September 30, 2016 the Company entered into a credit agreement (the “Credit Agreement”) that provides for (i) a senior secured term loan B facility in an aggregate principal amount of $375 million (the “Term Loan Facility”) and (ii) a senior secured revolving credit facility in an aggregate principal amount of $400 million (the “Revolving Credit Facility”). The debt issuance costs and original issue discount are being amortized over the life of the facilities using the effective interest method. The Credit Agreement is subject to a number of covenants, including, but not limited to, a minimum Interest Coverage Ratio and a Consolidated Leverage Ratio, as defined in and calculated pursuant to the Credit Agreement, that, in part, restrict the Company’s ability to incur additional indebtedness, create liens, engage in mergers and consolidations, make restricted payments and dispose of certain assets. The Credit Agreement generally allows annual dividend payments of up to $50 million in aggregate, though additional dividends may be allowed subject to certain conditions. Each of these covenants is subject to important exceptions and qualifications. Term Loan Facility On November 17, 2017, the Company amended the Credit Agreement to reduce the interest rate for the Term Loan Facility by 50 basis points and the LIBOR “floor” was also reduced by 25 basis points. Other terms, including the outstanding principal, maturity date and debt covenants were not amended. Select terms on the Term Loan Facility before and after the amendment include: Before Amendment After Amendment Interest rate (Company's option) Base rate + 5.00%; or LIBOR + 6.00% Base rate + 4.50%; or LIBOR + 5.50% LIBOR floor 1.00% 0.75% Amortization $13 million, first eight quarters; $11 million quarterly thereafter (as of original effective date) $13 million, first eight quarters; $11 million quarterly thereafter (as of original effective date) Maturity September 30, 2022 September 30, 2022 Under the terms of the Term Loan Facility, each of the syndicated lenders is deemed to have loaned a specific amount to the Company and has the right to repayment from the Company directly. Therefore, we concluded that the Term Loan Facility is a loan syndication under U.S. GAAP. As such, in order to determine whether the debt was modified or extinguished as a result of the amendment, we examined the amount of principal pre- and post-amendment by individual lender. As a result, we determined that $65 million of outstanding principal had been extinguished as of November 17, 2017, even though the total outstanding principal amongst all lenders pre- and post-amendment remained unchanged. Consequently, the amendment resulted in a pre-tax loss on debt extinguishment of $3 million related to the unamortized discount and debt issuance costs attributable to the $65 million of outstanding principal that had been considered extinguished. There was no net impact as of November 17, 2017 to cash and cash equivalents, total outstanding principal remained unchanged, and no cash was exchanged between the lenders and the Company (other than customary administrative fees). On February 2, 2017, the Company paid in advance the full amount of required amortization payments, $50 million, for the year ended December 31, 2017 for the Term Loan Facility. Additional Debt Issuances Information The fair values of the Senior Notes and Term Loan Facility that were determined using the market approach based upon interest rates available to the Company for borrowings with similar terms and maturities, were determined to be Level 2 under the fair value hierarchy. The fair value of the Company’s debt was less than and greater than its book value by approximately $2 million and $20 million at June 30, 2018 and December 31, 2017, respectively. There were $190 million and $75 million of borrowings under the Revolving Credit Facility as of June 30, 2018 and December 31, 2017, respectively. The weighted-average interest rate on borrowings under the Company’s Revolving Credit Facility was 4.89% during the six months ended June 30, 2018. There were $18 million and $38 million of net interest expense during the three and six months ended June 30, 2018, respectively. There were $16 million and $33 million of net interest expense during the three and six months ended June 30, 2017, respectively.

Equity

Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Equity	Note 10. Equity The Company’s equity balances and changes were as follows: Total Equity 2018 Total Equity 2017 Balance at December 31 $ 248 $ 240 Net (loss) income (3 ) 4 Other comprehensive (loss) income (1 ) 23 Share-based compensation 8 7 Issuance of share-based awards, net of withholdings and other (2 ) (1 ) Repurchase of common stock (20 ) — Revenue recognition adjustments 9 — Cash dividends paid (18 ) (16 ) Issuance of common stock — 18 Separation-related adjustments — (12 ) Balance at June 30 $ 221 $ 263 On May 31, 2018, the Company completed the repurchase approved by the Board of Directors of 1.6 million shares of common stock for a total cost of $20 million. During the three months ended March 31, 2018, the Company recorded $9 million in equity adjustments as a result of the adoption of ASC 606. Refer to Note 3, Revenue Recognition On March 28, 2017, in connection with the over-allotment option granted to the underwriters as part of the secondary sale by RRD, LSC Communications completed the sale of approximately 0.9 million shares of common stock, receiving proceeds of $18 million. During the six months ended June 30, 2017, the Company recorded certain separation-related adjustments related to the adjustment of assets and liabilities resulting from transactions with RRD.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Earnings Per Share On May 31, 2018, the Company completed the repurchase approved by the Board of Directors of 1.6 million shares of common stock for a total cost of $20 million. There were no shares of common stock purchased by the Company during the six months ended June 30, 2017. During the six months ended June 30, 2018 and 2017, Basic earnings per share (“EPS”) is calculated by dividing net earnings attributable to the Company’s stockholders by the weighted average number of common shares outstanding for the period. In computing diluted EPS, basic EPS is adjusted for the assumed issuance of all potentially dilutive share-based awards, including stock options, restricted stock, RSUs, and PSUs. The following table shows the calculation of basic and diluted EPS, as well as a reconciliation of basic shares to diluted shares: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net earnings (loss) per common share: Basic $ 0.24 $ 0.13 $ (0.09 ) $ 0.11 Diluted $ 0.23 $ 0.12 $ (0.09 ) $ 0.11 Dividends declared per common share $ 0.26 $ 0.25 $ 0.52 $ 0.50 Numerator: Net income (loss) $ 8 $ 5 $ (3 ) $ 4 Denominator: Weighted average number of common shares outstanding 34.0 33.5 34.3 33.1 Dilutive options and awards 0.3 0.3 — 0.3 Diluted weighted average number of common shares outstanding 34.3 33.8 34.3 33.4 Weighted-average number of anti-dilutive share-based awards: Restricted stock units 0.5 0.1 — — Options 0.2 — — —

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2018
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	Note 12. Retirement Plans The Company is the sole sponsor of certain defined benefit pension plans that are included in the condensed consolidated balance sheets as of June 30, 2018 and December 31, 2017. The components of the estimated net pension (income) loss for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Qualified Non-Qualified & International Total Qualified Non-Qualified & International Total Interest cost $ 21 $ 1 $ 22 $ 42 $ 2 $ 44 Expected return on plan assets (39 ) — (39 ) (78 ) — (78 ) Amortization of actuarial loss 5 — 5 10 — 10 Net periodic benefit (income) loss $ (13 ) $ 1 $ (12 ) $ (26 ) $ 2 $ (24 ) Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Qualified Non-Qualified & International Total Qualified Non-Qualified & International Total Interest cost $ 21 $ 1 $ 22 $ 43 $ 2 $ 45 Expected return on plan assets (38 ) — (38 ) (76 ) — (76 ) Amortization of actuarial loss 4 — 4 8 — 8 Net periodic benefit (income) loss $ (13 ) $ 1 $ (12 ) $ (25 ) $ 2 $ (23 ) The total net periodic income for the three and six months ended June 30, 2018 and 2017 is included in the investment and other income-net line item in the condensed consolidated statements of operations.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Comprehensive Income	Note 13. Comprehensive Income The following table summarizes accumulated other comprehensive loss by component as of December 31, 2017 and June 30, 2018 and changes during the six months ended June 30, 2018. Pension Plan Cost Translation Adjustments Total Balance at December 31, 2017 $ (428 ) $ (48 ) $ (476 ) Other comprehensive loss before reclassifications — (9 ) (9 ) Amounts reclassified from accumulated other comprehensive loss 8 — 8 Reclassification to accumulated deficit (97 ) — (97 ) Net change in accumulated other comprehensive loss (89 ) (9 ) (98 ) Balance at June 30, 2018 $ (517 ) $ (57 ) $ (574 ) The Company adopted ASU 2018-02 “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”) in the first quarter of 2018. As a result of applying this standard in the period of adoption, the Company reclassified $97 million relating to the change in tax rate from accumulated other comprehensive loss to accumulated deficit in the Company’s condensed consolidated balance sheet during the three months ended March 31, 2018. The following table summarizes accumulated other comprehensive loss by component as of December 31, 2016 and June 30, 2017 and changes during the six months ended June 30, 2017. Pension Plan Cost Translation Adjustments Total Balance at December 31, 2016 $ (462 ) $ (69 ) $ (531 ) Other comprehensive income before reclassifications — 18 18 Amounts reclassified from accumulated other comprehensive loss 5 — 5 Net change in accumulated other comprehensive loss 5 18 23 Balance at June 30, 2017 $ (457 ) $ (51 ) $ (508 ) Refer to the condensed consolidated statements of comprehensive income for the components of comprehensive income for the three and six months ended June 30, 2018 and 2017. Reclassifications from accumulated other comprehensive loss for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Amortization of pension plan cost: Net actuarial loss (a) $ 5 $ 4 $ 10 $ 8 Reclassifications before tax 5 4 10 8 Income tax expense 1 2 2 3 Reclassifications, net of tax $ 4 $ 2 $ 8 $ 5 (a) These accumulated other comprehensive income components are included in the calculation of net periodic pension plan (income) expense that is recognized substantially all in investment and other income-net in the condensed consolidated statements of operations (see Note 12, Retirement Plans

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Information	Note 14. Segment Information The Company’s segment and product and service offerings are summarized below: Print The Print segment produces magazines, catalogs, books, directories, and retail inserts. The segment also provides supply-chain management, logistics and certain other print-related services, including mail-list management and sortation, e-book formatting and distribution. The segment has operations in the U.S., Europe and Mexico. The Print segment is divided into the magazines, catalogs and retail inserts, book, Europe and directories reporting units. Office Products The Office Products segment manufactures and sells branded and private label products in five core categories: filing products, envelopes, note-taking products, binder products, and forms. Corporate Corporate consists of unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, communications, certain facility costs and LIFO inventory provisions. In addition, certain costs and earnings of employee benefit plans, such as pension benefit plan income and share-based compensation, are included in Corporate and not allocated to the operating segments. Information by Segment The Company has disclosed income (loss) from operations as the primary measure of segment earnings (loss). This is the measure of profitability used by the Company’s chief operating decision-maker and is most consistent with the presentation of profitability reported with the condensed consolidated financial statements. Net Sales Income (loss) from Operations Depreciation and Amortization Capital Expenditures Three Months Ended June 30, 2018 Print $ 789 $ 20 $ 30 $ 15 Office Products 154 13 3 1 Total operating segments 943 33 33 16 Corporate — (15 ) 1 1 Total operations $ 943 $ 18 $ 34 $ 17 Net Sales Income (loss) from Operations Depreciation and Amortization Capital Expenditures Three Months Ended June 30, 2017 Print $ 723 $ 22 $ 36 $ 12 Office Products 125 12 3 2 Total operating segments 848 34 39 14 Corporate — (27 ) — 1 Total operations $ 848 $ 7 $ 39 $ 15 Net Sales Income (loss) from Operations Assets of Operations Depreciation and Amortization Capital Expenditures Six Months Ended June 30, 2018 Print $ 1,595 $ 22 $ 1,483 $ 64 $ 34 Office Products 277 15 367 7 1 Total operating segments 1,872 37 1,850 71 35 Corporate — (25 ) 71 1 2 Total operations $ 1,872 $ 12 $ 1,921 $ 72 $ 37 Net Sales Income (loss) from Operations Assets of Operations Depreciation and Amortization Capital Expenditures Six Months Ended June 30, 2017 Print $ 1,433 $ 34 $ 1,440 $ 71 $ 32 Office Products 236 21 297 7 2 Total operating segments 1,669 55 1,737 78 34 Corporate — (41 ) 114 1 2 Total operations $ 1,669 $ 14 $ 1,851 $ 79 $ 36 Restructuring, impairment and other charges by segment for the three and six months ended June 30, 2018 and 2017 are disclosed in Note 7, Restructuring, Impairment and Other Charges.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Parties	Note 15. Related Parties On March 28, 2017, RRD completed the sale of approximately 6.2 million shares of LSC Communications common stock, representing its entire 19.25% retained ownership. Transactions with RRD Revenues and Purchases Given that RRD sold its remaining stake in LSC Communications on March 28, 2017, the following information is presented for the three months ended March 31, 2017 only. LSC Communications generates net revenue from sales to RRD’s subsidiaries. Net revenues from related party sales were $32 million for the three months ended March 31, 2017. LSC Communications utilizes RRD for freight, logistics and premedia services. There were cost of sales of $51 million related to freight, logistics and premedia services purchased from RRD for the three months ended March 31, 2017.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
Accounting Changes And Error Corrections [Abstract]
New Accounting Pronouncements	Note 16. New Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02 “Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification” (“ASU 2016-02”), which requires lessees to put most leases on the balance sheet but recognize expense on the income statement in a manner similar to current accounting. For lessors, ASU 2016-02 also modifies the classification criteria and the accounting for sales-type and direct financing leases. The standard is effective in the first quarter of 2019. Early adoption of ASU 2016-02 is permitted, however, the Company plans to adopt the standard in the first quarter of 2019. The Company is currently evaluating the impact of the provisions of ASU 2016-02 and anticipates it will be able to complete its analysis of all potential impacts of the standard, implement any system and process changes that might be necessary and educate the appropriate employees with respect to the new standard in order to effectively adopt the standard beginning in the first quarter of 2019.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 17. Subsequent Events On July 2, 2018, the Company completed the acquisition of RRD’s Print Logistics business, total purchase price, $58 million in cash, was funded with a combination of cash on hand and drawings under the Revolving Credit Facility. The Company is in process of completing the purchase price allocation. On July 19, 2018, the Company announced that it has entered into a definitive agreement to sell its European printing business, which represents the Company’s entire Europe reporting unit. The proceeds from the sale are dependent upon the assets and liabilities present at the time of closing and any subsequent working capital adjustments. The Company does not expect a material gain or loss on the sale, other than the impact on the income tax provision related to the reversal of the estimated $25 million of net deferred tax assets associated with this business as of June 30, 2018. The sale has not been completed as of August 2, 2018, the date of filing of the Form 10-Q for the quarter ended June 30, 2018.

Revenue Recognition (Policies)

Revenue Recognition (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition Policy	Revenue Recognition Policy The Company recognizes revenue at a point in time for substantially all customized products. The point in time when revenue is recognized is when the upon shipment to the customer (dependent upon specific shipping terms). Under agreements with certain customers, custom products may be stored by the Company for future delivery. Based upon contractual terms, the Company is typically able to recognize revenue once the performance obligation is satisfied and the customer obtains control of the completed product, usually when it completes production (depending on the specific facts and circumstances). With certain customer contracts, the Company is permitted to complete a pre-defined amount of custom products and hold such inventory until the customer requests shipment (which generally is required to be delivered in the same year as production). For these items, which include consigned inventory, the Company has the contractual right to receive payment once the production is completed, regardless of the ultimate delivery date. Based upon contractual terms, the Company recognizes revenue once the performance obligation has been satisfied and the customer obtains control of the completed products, usually when production is completed. In very limited situations, the Company is permitted to produce and hold in inventory a pre-defined amount of custom products as safety stock. Similar to completed production held in inventory, for these items the Company has the contractual right to receive payment for the pre-defined amount once the production is completed, regardless of the ultimate delivery date. Based upon our evaluation of the contractual terms, the Company is able to recognize revenue once the performance obligation has been satisfied and the customer obtains control of the completed products, usually when production is completed. Revenue from the Company’s print related services (including list processing, mail sortation services and supply chain management) is recognized as services are completed over time. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services, which is based on transaction prices set forth in contracts with customers and an estimate of variable consideration, as applicable. Variable consideration resulting from volume rebates, fixed rebates, penalties or credits for paper consumption, and sales discounts that are offered within contracts between the Company and its customers is recognized in the period the related revenue is recognized. Estimates of variable consideration are based on stated contract terms and an analysis of historical experience. The amount of variable consideration is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur in a future period. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, such as co-mail and catalog production, the transaction price allocated to each performance obligation is based on the price stated in the customer contract, which represents the Company’s best estimate of the standalone selling price of each distinct good or service in the contract. Billings for shipping and handling costs are recorded gross. The Company made an accounting policy election under ASC 606 to account for shipping and handling after the customer obtains control of the good as fulfillment activities rather than as a separate service to the customer. As a result, the Company accrues the costs of the shipping and handling if revenue is recognized for the related good before the fulfillment activities occur. Many of the Company’s operations process materials, primarily paper, that may be supplied directly by customers or may be purchased by the Company and sold to customers as part of the end product. No revenue is recognized for customer-supplied paper, but revenues for Company-supplied paper are recognized on a gross basis. As a result, the Company’s reported sales and margins may be impacted by the mix of customer-supplied paper and Company-supplied paper. The Company records taxes collected from customers and remitted to governmental authorities on a net basis. Contracts do not contain a significant financing component as payment terms on invoiced amounts are typically between 30 to 120 days, based on the Company’s credit assessment of individual customers, as well as industry expectations. The timing of revenue recognition, billings and cash collections results in accounts receivable and unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the condensed consolidated balance sheet. Revenue recognition generally coincides with the Company’s contractual right to consideration and the issuance of invoices to customers. Depending on the nature of the performance obligation and arrangements with customers, the timing of the issuance of invoices may result in contract assets or contract liabilities. Contract assets related to unbilled receivables are recognized for satisfied performance obligations for which the Company cannot yet issue an invoice. Contract liabilities result from advances or deposits from customers on performance obligations not yet satisfied. Because the majority of the Company’s products are customized, product returns are not significant; however, the Company accrues for the estimated amount of customer returns at the time of sale.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2018
Business Acquisition [Line Items]
Pro Forma Financial Information	The unaudited pro forma financial information is not intended to represent or be indicative of the Company’s condensed consolidated statements of operations that would have been reported had these acquisitions been completed as of the beginning of the period presented and should not be taken as indicative of the Company’s future condensed consolidated statements of operations. Pro forma adjustments are tax-effected at the applicable statutory tax rates. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net sales $ 943 $ 967 $ 1,872 $ 1,909 Net income (loss) 8 3 (2 ) (1 ) Net earnings (loss) per common share Basic $ 0.24 $ 0.09 $ (0.06 ) $ (0.03 ) Diluted $ 0.23 $ 0.09 $ (0.06 ) $ (0.03 ) The following table outlines unaudited pro forma financial information for the three and six months ended June 30, 2018 and 2017: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Amortization of purchased intangibles $ 4 $ 5 $ 9 $ 11
2017 Acquisitions
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation for Acquisitions	The purchase price allocations for the material acquisitions noted above were as follows: Clark Group Quality Park Publishers Press CREEL Fairrington Accounts Receivable $ 6 $ 19 $ 27 $ 12 $ 6 Inventories — 27 13 5 — Prepaid expenses and other current assets — 1 1 1 — Property, plant and equipment — 8 36 20 6 Other intangible assets 14 1 — 23 17 Other noncurrent assets — — 1 — 1 Goodwill (bargain purchase) 16 (2 ) 1 26 22 Accounts payable and accrued liabilities (8 ) (11 ) (14 ) (9 ) (4 ) Deferred taxes – net (3 ) (2 ) — — (9 ) Purchase price, net of cash acquired $ 25 $ 41 $ 65 $ 78 $ 39 Less: value of common stock issued — — — — 20 Less: accrued but unpaid contingent consideration — — — 1 — Net cash paid $ 25 $ 41 $ 65 $ 77 $ 19

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2018
Schedule of Disaggregated Revenue	The following table provides information about disaggregated revenue by major products/service lines and timing of revenue recognition, and includes a reconciliation of the disaggregated revenue with reportable segments. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Print Office Products Total Print Office Products Total Major Products/Service Lines Book (a) $ 266 $ — $ 266 $ 515 $ — $ 515 Magazines, Catalogs and Retail Inserts (b) $ 493 $ — $ 493 $ 1,019 $ — $ 1,019 North America 442 — 442 910 — 910 Europe 51 — 51 109 — 109 Directories $ 30 $ — $ 30 $ 61 $ — $ 61 North America 25 — 25 52 — 52 Europe 5 — 5 9 — 9 Office Products $ — $ 154 $ 154 $ — $ 277 $ 277 Total $ 789 $ 154 $ 943 $ 1,595 $ 277 $ 1,872 Timing of Revenue Recognition Products and services transferred at a point in time $ 683 $ 154 $ 837 $ 1,385 $ 277 $ 1,662 Products and services transferred over time 106 — 106 210 — 210 Total $ 789 $ 154 $ 943 $ 1,595 $ 277 $ 1,872 (a) Includes the premedia services, e-book formatting and supply chain management associated with book production. (b) Includes premedia, co-mail and logistics services associated with the production of catalogs and magazines.
Schedule of Information About Receivables, Contract Assets, Contract Liabilities and Changes in Contract with Customers	The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: June 30, 2018 January 1, 2018 Trade receivables $ 554 $ 647 Short-term contract assets 33 31 Long-term contract assets 35 36 Short-term contract liabilities 19 21 Significant changes in the contract assets and the contract liabilities balances during the period are as follows: Six Months Ended June 30, Contract Assets Contract Liabilities Revenue recognized that was included in contract liabilities as of January 1, 2018 $ — $ (17 ) Increases due to cash received — 15 Payment of contract acquisition costs 5 — Additions to unbilled accounts receivable 22 — Amortization of contract acquisition costs (6 ) — Unbilled accounts receivable recognized as receivables (20 ) —
Schedule of Transactions Affecting Allowance for Doubtful Accounts Receivable	Transactions affecting the allowances for doubtful accounts receivable balance during the six months ended June 30, 2018 were as follows: June 30, 2018 Balance, beginning of year $ 11 Provisions charged to expense 4 Balance, end of period $ 15
ASU 2014-09
Impact of Adoption of ASC 606 on Financial Statements	As Reported Adjustments Adjusted December 31, Adoption of January 1, 2017 ASC 606 2018 Assets Receivables, net $ 727 $ 32 $ 759 Inventories 238 (32 ) 206 Deferred income taxes 51 (3 ) 48 Liabilities Accrued liabilities $ 239 $ (12 ) $ 227 Equity (Accumulated deficit) retained earnings $ (90 ) $ 9 $ (81 ) The following tables compare impacted accounts from the reported condensed consolidated balance sheet and statement of operations, as of and for the six months ended June 30, 2018, to their pro forma amounts had the previous guidance been in effect: June 30, 2018 As Reported Adjustments Adoption of ASC 606 Pro forma as if the previous standard was in effect Assets Receivables, net $ 682 $ (33) $ 649 Inventories 252 13 265 Deferred income taxes 39 3 42 Liabilities Accrued liabilities $ 203 $ 6 $ 209 Equity Accumulated deficit $ (5 ) $ (7 ) $ (12 ) Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 As Reported Adjustments Adoption of ASC 606 Pro forma as if the previous standard was in effect As Reported Adjustments Adoption of ASC 606 Pro forma as if the previous standard was in effect Net sales $ 943 $ (4) $ 939 $ 1,872 $ 6 $ 1,878 Cost of sales 798 (4 ) 794 1,606 4 1,610 Income tax expense 5 — 5 1 — 1 Net earnings (loss) per common share Basic net earnings (loss) per share $ 0.24 $ — $ 0.24 $ (0.09 ) $ 0.06 $ (0.03 ) Diluted net earnings (loss) per share 0.23 — 0.23 (0.09 ) 0.06 (0.03 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Components of the Company's Inventories	The components of the Company’s inventories, net of excess and obsolescence reserves for raw materials and finished goods, at June 30, 2018 and December 31, 2017 were as follows: June 30, December 31, 2018 2017 Raw materials and manufacturing supplies $ 154 $ 114 Work in process 64 69 Finished goods 92 112 Last in, first out ("LIFO") reserve (58 ) (57 ) Total $ 252 $ 238

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Property Plant And Equipment [Abstract]
Components of Company's Property, Plant and Equipment	The components of the Company’s property, plant and equipment at June 30, 2018 and December 31, 2017 were as follows: June 30, December 31, 2018 2017 Land $ 44 $ 45 Buildings 732 739 Machinery and equipment 3,956 4,012 4,732 4,796 Accumulated depreciation (4,188 ) (4,220 ) Total $ 544 $ 576

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2018 were as follows: Print Office Products Total Net book value as of December 31, 2017 Goodwill $ 934 $ 110 $ 1,044 Accumulated impairment losses (883 ) (79 ) (962 ) Total 51 31 82 Net book value as of June 30, 2018 Goodwill 929 110 1,039 Accumulated impairment losses (878 ) (79 ) (957 ) Total $ 51 $ 31 $ 82
Components of Other Intangible Assets	The components of other intangible assets at June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 December 31, 2017 Gross Carrying Accumulated Net Book Gross Carrying Accumulated Net Book Amount Amortization Value Amount Amortization Value Customer relationships $ 256 $ (133 ) $ 123 $ 256 $ (125 ) $ 131 Trade names 9 (5 ) 4 9 (4 ) 5 Total amortizable other intangible assets 265 (138 ) 127 265 (129 ) 136 Indefinite-lived trade names 24 — 24 24 — 24 Total other intangible assets $ 289 $ (138 ) $ 151 $ 289 $ (129 ) $ 160
Schedule of Estimated Annual Amortization Expense Related to Other Intangible Assets	The following table outlines the estimated annual amortization expense related to other intangible assets: For the year ending December 31, Amount 2018 $ 17 2019 16 2020 16 2021 14 2022 13 2023 and thereafter 60 Total $ 136

Restructuring, Impairment and32

Restructuring, Impairment and Other Charges (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring And Related Activities [Abstract]
Schedule of Net Restructuring, Impairment and Other Charges	For the three and six months ended June 30, 2018 and 2017, the Company recorded the following net restructuring, impairment and other charges: Three Months Ended June 30, 2018 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 2 $ 6 $ 8 $ — $ 1 $ 9 Office Products — 1 1 — — 1 Corporate 1 — 1 — — 1 Total $ 3 $ 7 $ 10 $ — $ 1 $ 11 Three Months Ended June 30, 2017 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 3 $ 2 $ 5 $ — $ 1 $ 6 Corporate — 15 15 — — 15 Total $ 3 $ 17 $ 20 $ — $ 1 $ 21 Six Months Ended June 30, 2018 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 5 $ 9 $ 14 $ (1 ) $ 1 $ 14 Office Products 1 1 2 — — 2 Corporate 1 — 1 — — 1 Total $ 7 $ 10 $ 17 $ (1 ) $ 1 $ 17 Six Months Ended June 30, 2017 Employee Terminations Other Restructuring Charges Total Restructuring Charges Impairment Other Charges Total Print $ 6 $ 3 $ 9 $ — $ 2 $ 11 Office Products 1 — 1 — — 1 Corporate — 15 15 — — 15 Total $ 7 $ 18 $ 25 $ — $ 2 $ 27
Schedule of Changes in the Restructuring Reserve	The restructuring reserve as of June 30, 2018 and December 31, 2017, and changes during the six months ended June 30, 2018 were as follows: December 31, 2017 Restructuring Charges Other Cash Paid June 30, 2018 Employee terminations $ 8 $ 7 $ — $ (9 ) $ 6 Multiemployer pension plan withdrawal obligations 16 1 19 (3 ) 33 Other 2 6 — (5 ) 3 Total $ 26 $ 14 $ 19 $ (17 ) $ 42

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of the Company's Debt	The Company’s debt at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 December 31, 2017 Borrowings under the Revolving Credit Facility $ 190 $ 75 Term Loan Facility due September 30, 2022 (a) 282 306 8.75% Senior Secured Notes due October 15, 2023 450 450 Capital lease and other obligations 3 3 Unamortized debt issuance costs (11 ) (12 ) Total debt 914 822 Less: current portion (234 ) (123 ) Long-term debt $ 680 $ 699 (a) The borrowings under the Term Loan Facility are subject to a variable interest rate. As of June 30, 2018 and December 31, 2017, the interest rate was 7.59% and 7.07%, respectively.

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of the Company's Equity Activity	The Company’s equity balances and changes were as follows: Total Equity 2018 Total Equity 2017 Balance at December 31 $ 248 $ 240 Net (loss) income (3 ) 4 Other comprehensive (loss) income (1 ) 23 Share-based compensation 8 7 Issuance of share-based awards, net of withholdings and other (2 ) (1 ) Repurchase of common stock (20 ) — Revenue recognition adjustments 9 — Cash dividends paid (18 ) (16 ) Issuance of common stock — 18 Separation-related adjustments — (12 ) Balance at June 30 $ 221 $ 263

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Calculation of Basic and Diluted EPS as Well as Reconciliation of Basic Shares to Diluted Shares	The following table shows the calculation of basic and diluted EPS, as well as a reconciliation of basic shares to diluted shares: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net earnings (loss) per common share: Basic $ 0.24 $ 0.13 $ (0.09 ) $ 0.11 Diluted $ 0.23 $ 0.12 $ (0.09 ) $ 0.11 Dividends declared per common share $ 0.26 $ 0.25 $ 0.52 $ 0.50 Numerator: Net income (loss) $ 8 $ 5 $ (3 ) $ 4 Denominator: Weighted average number of common shares outstanding 34.0 33.5 34.3 33.1 Dilutive options and awards 0.3 0.3 — 0.3 Diluted weighted average number of common shares outstanding 34.3 33.8 34.3 33.4 Weighted-average number of anti-dilutive share-based awards: Restricted stock units 0.5 0.1 — — Options 0.2 — — —

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2018
Compensation And Retirement Disclosure [Abstract]
Components of Estimated Net Pension (Income) Loss	The components of the estimated net pension (income) loss for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Qualified Non-Qualified & International Total Qualified Non-Qualified & International Total Interest cost $ 21 $ 1 $ 22 $ 42 $ 2 $ 44 Expected return on plan assets (39 ) — (39 ) (78 ) — (78 ) Amortization of actuarial loss 5 — 5 10 — 10 Net periodic benefit (income) loss $ (13 ) $ 1 $ (12 ) $ (26 ) $ 2 $ (24 ) Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 Qualified Non-Qualified & International Total Qualified Non-Qualified & International Total Interest cost $ 21 $ 1 $ 22 $ 43 $ 2 $ 45 Expected return on plan assets (38 ) — (38 ) (76 ) — (76 ) Amortization of actuarial loss 4 — 4 8 — 8 Net periodic benefit (income) loss $ (13 ) $ 1 $ (12 ) $ (25 ) $ 2 $ (23 )

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss	The following table summarizes accumulated other comprehensive loss by component as of December 31, 2017 and June 30, 2018 and changes during the six months ended June 30, 2018. Pension Plan Cost Translation Adjustments Total Balance at December 31, 2017 $ (428 ) $ (48 ) $ (476 ) Other comprehensive loss before reclassifications — (9 ) (9 ) Amounts reclassified from accumulated other comprehensive loss 8 — 8 Reclassification to accumulated deficit (97 ) — (97 ) Net change in accumulated other comprehensive loss (89 ) (9 ) (98 ) Balance at June 30, 2018 $ (517 ) $ (57 ) $ (574 ) The Company adopted ASU 2018-02 “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (“ASU 2018-02”) in the first quarter of 2018. As a result of applying this standard in the period of adoption, the Company reclassified $97 million relating to the change in tax rate from accumulated other comprehensive loss to accumulated deficit in the Company’s condensed consolidated balance sheet during the three months ended March 31, 2018. The following table summarizes accumulated other comprehensive loss by component as of December 31, 2016 and June 30, 2017 and changes during the six months ended June 30, 2017. Pension Plan Cost Translation Adjustments Total Balance at December 31, 2016 $ (462 ) $ (69 ) $ (531 ) Other comprehensive income before reclassifications — 18 18 Amounts reclassified from accumulated other comprehensive loss 5 — 5 Net change in accumulated other comprehensive loss 5 18 23 Balance at June 30, 2017 $ (457 ) $ (51 ) $ (508 )
Schedule of Reclassification From Accumulated Other Comprehensive Loss	Reclassifications from accumulated other comprehensive loss for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Amortization of pension plan cost: Net actuarial loss (a) $ 5 $ 4 $ 10 $ 8 Reclassifications before tax 5 4 10 8 Income tax expense 1 2 2 3 Reclassifications, net of tax $ 4 $ 2 $ 8 $ 5 (a) These accumulated other comprehensive income components are included in the calculation of net periodic pension plan (income) expense that is recognized substantially all in investment and other income-net in the condensed consolidated statements of operations (see Note 12, Retirement Plans

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The Company has disclosed income (loss) from operations as the primary measure of segment earnings (loss). This is the measure of profitability used by the Company’s chief operating decision-maker and is most consistent with the presentation of profitability reported with the condensed consolidated financial statements. Net Sales Income (loss) from Operations Depreciation and Amortization Capital Expenditures Three Months Ended June 30, 2018 Print $ 789 $ 20 $ 30 $ 15 Office Products 154 13 3 1 Total operating segments 943 33 33 16 Corporate — (15 ) 1 1 Total operations $ 943 $ 18 $ 34 $ 17 Net Sales Income (loss) from Operations Depreciation and Amortization Capital Expenditures Three Months Ended June 30, 2017 Print $ 723 $ 22 $ 36 $ 12 Office Products 125 12 3 2 Total operating segments 848 34 39 14 Corporate — (27 ) — 1 Total operations $ 848 $ 7 $ 39 $ 15 Net Sales Income (loss) from Operations Assets of Operations Depreciation and Amortization Capital Expenditures Six Months Ended June 30, 2018 Print $ 1,595 $ 22 $ 1,483 $ 64 $ 34 Office Products 277 15 367 7 1 Total operating segments 1,872 37 1,850 71 35 Corporate — (25 ) 71 1 2 Total operations $ 1,872 $ 12 $ 1,921 $ 72 $ 37 Net Sales Income (loss) from Operations Assets of Operations Depreciation and Amortization Capital Expenditures Six Months Ended June 30, 2017 Print $ 1,433 $ 34 $ 1,440 $ 71 $ 32 Office Products 236 21 297 7 2 Total operating segments 1,669 55 1,737 78 34 Corporate — (41 ) 114 1 2 Total operations $ 1,669 $ 14 $ 1,851 $ 79 $ 36

Overview and Basis of Present39

Overview and Basis of Presentation - Narrative (Detail) $ in Millions	Mar. 28, 2017shares	Oct. 01, 2016Entityshares	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Overview And Basis Of Presentation [Line Items]
Percentage of distribution of common shares during spinoff		80.75%
Donnelley Financial Solutions
Overview And Basis Of Presentation [Line Items]
Percentage of distribution of common shares during spinoff		80.75%
RRD
Overview And Basis Of Presentation [Line Items]
Ownership percentage	19.25%	19.25%
Ownership percentage in Donnelley Financial solutions by related party		19.25%
Number of subsidiary shares sold by parent company	6,200,000
RR Donnelley
Overview And Basis Of Presentation [Line Items]
Number of entities resulted from spinoff of an entity | Entity		3
Number of share distributed to each stockholder in spinoff transaction in Donnelley Financial solutions by related party		0.125
Number of share distributed to each stockholder in spinoff transaction		0.125
ASU 2017-07
Overview And Basis Of Presentation [Line Items]
Reclassification of net pension income from selling, general and administrative expenses to investment and other income | $			$ 12	$ 23
Reclassification of net pension income upon adoption of accounting standard | $					$ 46	$ 45

Business Combinations - Narrati

Business Combinations - Narrative (Detail) - USD ($) shares in Millions	Nov. 29, 2017	Nov. 09, 2017	Sep. 07, 2017	Jul. 28, 2017	Mar. 01, 2017	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Aug. 21, 2017	Aug. 17, 2017
Business Acquisition [Line Items]
Goodwill						$ 82,000,000	$ 82,000,000			$ 82,000,000		$ 82,000,000
Acquisition-related expenses						1,000,000			$ 1,000,000	2,000,000	$ 1,000,000
Magazines, catalogs and retail inserts
Business Acquisition [Line Items]
Goodwill							0					0
Goodwill impairment charges							$ 18,000,000	$ 55,000,000				73,000,000
Clark Group
Business Acquisition [Line Items]
Purchase price of acquisition, cash	$ 25,000,000
Goodwill	$ 16,000,000					16,000,000				16,000,000
Tax deductible goodwill						38,000,000				38,000,000
Quality Park
Business Acquisition [Line Items]
Purchase price of acquisition, cash		$ 41,000,000
Gain on bargain purchase										2,000,000		$ 2,000,000
Publishers Press
Business Acquisition [Line Items]
Purchase price of acquisition, cash			$ 68,000,000
Goodwill			$ 1,000,000			1,000,000				1,000,000
NECI
Business Acquisition [Line Items]
Goodwill													$ 1,000,000
Purchase price, included in estimated contingent consideration													$ 6,000,000
CREEL
Business Acquisition [Line Items]
Goodwill						26,000,000				26,000,000				$ 26,000,000
Purchase price, included in estimated contingent consideration														$ 79,000,000
Fairrington
Business Acquisition [Line Items]
Purchase price of acquisition, cash				$ 19,000,000
Goodwill				$ 22,000,000		$ 22,000,000				$ 22,000,000
Issuance of common stock shares for acquisitions of businesses				1
Aggregate purchase price of acquisition				$ 39,000,000
HudsonYards
Business Acquisition [Line Items]
Purchase price of acquisition, cash					$ 3,000,000
Goodwill					$ 2,000,000

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Price Allocation for Acquisitions (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017	Nov. 29, 2017	Sep. 07, 2017	Aug. 17, 2017	Jul. 28, 2017
Business Acquisition [Line Items]
Goodwill	$ 82	$ 82
Clark Group
Business Acquisition [Line Items]
Accounts Receivable	6
Inventories	0
Prepaid expenses and other current assets	0
Property, plant and equipment	0
Other intangible assets	14
Other noncurrent assets	0
Goodwill	16		$ 16
Accounts payable and accrued liabilities	(8)
Deferred taxes – net	(3)
Purchase price, net of cash acquired	25
Less: value of common stock issued	0
Less: accrued but unpaid contingent consideration	0
Net cash paid	25
Publishers Press
Business Acquisition [Line Items]
Accounts Receivable	27
Inventories	13
Prepaid expenses and other current assets	1
Property, plant and equipment	36
Other intangible assets	0
Other noncurrent assets	1
Goodwill	1			$ 1
Accounts payable and accrued liabilities	(14)
Deferred taxes – net	0
Purchase price, net of cash acquired	65
Less: value of common stock issued	0
Less: accrued but unpaid contingent consideration	0
Net cash paid	65
Quality Park
Business Acquisition [Line Items]
Accounts Receivable	19
Inventories	27
Prepaid expenses and other current assets	1
Property, plant and equipment	8
Other intangible assets	1
Other noncurrent assets	0
Bargain purchase	(2)	$ (2)
Accounts payable and accrued liabilities	(11)
Deferred taxes – net	(2)
Purchase price, net of cash acquired	41
Less: value of common stock issued	0
Less: accrued but unpaid contingent consideration	0
Net cash paid	41
CREEL
Business Acquisition [Line Items]
Accounts Receivable	12
Inventories	5
Prepaid expenses and other current assets	1
Property, plant and equipment	20
Other intangible assets	23
Other noncurrent assets	0
Goodwill	26				$ 26
Accounts payable and accrued liabilities	(9)
Deferred taxes – net	0
Purchase price, net of cash acquired	78
Less: value of common stock issued	0
Less: accrued but unpaid contingent consideration	1
Net cash paid	77
Fairrington
Business Acquisition [Line Items]
Accounts Receivable	6
Inventories	0
Prepaid expenses and other current assets	0
Property, plant and equipment	6
Other intangible assets	17
Other noncurrent assets	1
Goodwill	22					$ 22
Accounts payable and accrued liabilities	(4)
Deferred taxes – net	(9)
Purchase price, net of cash acquired	39
Less: value of common stock issued	20
Less: accrued but unpaid contingent consideration	0
Net cash paid	$ 19

Business Combinations - Pro For

Business Combinations - Pro Forma Financial Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Business Combinations [Abstract]
Net sales	$ 943	$ 967	$ 1,872	$ 1,909
Net income (loss)	$ 8	$ 3	$ (2)	$ (1)
Net earnings (loss) per common share
Basic	$ 0.24	$ 0.09	$ (0.06)	$ (0.03)
Diluted	$ 0.23	$ 0.09	$ (0.06)	$ (0.03)
Amortization of purchased intangibles	$ 4	$ 5	$ 9	$ 11

Revenue Recognition - Summary o

Revenue Recognition - Summary of Companys adjusted accounts upon Adoption of ASC 606 (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
ASSETS
Receivables, net	$ 682		$ 727
Inventories	252		238
Deferred income taxes	39		51
LIABILITIES
Accrued liabilities	203		239
EQUITY (Note 10)
(Accumulated deficit) retained earnings	(5)		$ (90)
ASU 2014-09
ASSETS
Receivables, net		$ 759
Inventories		206
Deferred income taxes		48
LIABILITIES
Accrued liabilities		227
EQUITY (Note 10)
(Accumulated deficit) retained earnings		(81)
ASU 2014-09 | Adjustments Adoption of ASC 606
ASSETS
Receivables, net	(33)	32
Inventories	13	(32)
Deferred income taxes	3	(3)
LIABILITIES
Accrued liabilities	6	(12)
EQUITY (Note 10)
(Accumulated deficit) retained earnings	$ (7)	$ 9

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Disaggregation Of Revenue [Line Items]
Payment terms on invoiced amounts description		between 30 to 120 days
Customer-Supplied Paper
Disaggregation Of Revenue [Line Items]
Revenue recognized	$ 0	$ 0
ASU 2014-09
Disaggregation Of Revenue [Line Items]
Contract acquisition costs capitalized			$ 0	$ 36,000,000
Amortization expense	3,000,000	6,000,000
Impairment loss amount	0	0
ASU 2014-09 | Adjustments Adoption of ASC 606
Disaggregation Of Revenue [Line Items]
Amount of total assets decreased		3,000,000
Amount of total liabilities decreased		12,000,000
Amount of total equity increased		9,000,000
Equity adjustment, net	$ 3,000,000	$ 3,000,000

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Comparison Between Select Accounts from Reported Statements to Proforma Amounts in Effect of Previous Guidance - Balance Sheet (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
ASSETS
Receivables, net	$ 682		$ 727
Inventories	252		238
Deferred income taxes	39		51
LIABILITIES
Accrued liabilities	203		239
EQUITY (Note 10)
Accumulated deficit	(5)		$ (90)
ASU 2014-09
ASSETS
Receivables, net		$ 759
Inventories		206
Deferred income taxes		48
LIABILITIES
Accrued liabilities		227
EQUITY (Note 10)
Accumulated deficit		(81)
ASU 2014-09 | Adjustments Adoption of ASC 606
ASSETS
Receivables, net	(33)	32
Inventories	13	(32)
Deferred income taxes	3	(3)
LIABILITIES
Accrued liabilities	6	(12)
EQUITY (Note 10)
Accumulated deficit	(7)	$ 9
ASU 2014-09 | Pro Forma as if the Previous Standard was in Effect
ASSETS
Receivables, net	649
Inventories	265
Deferred income taxes	42
LIABILITIES
Accrued liabilities	209
EQUITY (Note 10)
Accumulated deficit	$ (12)

Revenue Recognition - Schedul46

Revenue Recognition - Schedule of Comparison Between Select Accounts from Reported Statements to Proforma Amounts in Effect of Previous Guidance - Operations (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Net sales	$ 943	$ 848	$ 1,872	$ 1,669
Cost of sales	798		1,606
Income tax expense	$ 5	$ (2)	$ 1	$ 0
Net earnings (loss) per common share (Note 11):
Basic net earnings (loss) per share	$ 0.24	$ 0.13	$ (0.09)	$ 0.11
Diluted net earnings (loss) per share	$ 0.23	$ 0.12	$ (0.09)	$ 0.11
ASU 2014-09 | Adjustments Adoption of ASC 606
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Net sales	$ (4)		$ 6
Cost of sales	(4)		4
Income tax expense	$ 0		$ 0
Net earnings (loss) per common share (Note 11):
Basic net earnings (loss) per share	$ 0		$ 0.06
Diluted net earnings (loss) per share	$ 0		$ 0.06
ASU 2014-09 | Pro Forma as if the Previous Standard was in Effect
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Net sales	$ 939		$ 1,878
Cost of sales	794		1,610
Income tax expense	$ 5		$ 1
Net earnings (loss) per common share (Note 11):
Basic net earnings (loss) per share	$ 0.24		$ (0.03)
Diluted net earnings (loss) per share	$ 0.23		$ (0.03)

Revenue Recognition - Schedul47

Revenue Recognition - Schedule of Disaggregated Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation Of Revenue [Line Items]
Revenue	$ 943	$ 848	$ 1,872	$ 1,669
Book
Disaggregation Of Revenue [Line Items]
Revenue	266		515
Magazines, catalogs and retail inserts
Disaggregation Of Revenue [Line Items]
Revenue	493		1,019
Magazines, catalogs and retail inserts | North America
Disaggregation Of Revenue [Line Items]
Revenue	442		910
Magazines, catalogs and retail inserts | Europe
Disaggregation Of Revenue [Line Items]
Revenue	51		109
Office Products
Disaggregation Of Revenue [Line Items]
Revenue	154		277
Directories
Disaggregation Of Revenue [Line Items]
Revenue	30		61
Directories | North America
Disaggregation Of Revenue [Line Items]
Revenue	25		52
Directories | Europe
Disaggregation Of Revenue [Line Items]
Revenue	5		9
Major Products/Service Lines
Disaggregation Of Revenue [Line Items]
Revenue	943		1,872
Print | Book
Disaggregation Of Revenue [Line Items]
Revenue	266		515
Print | Magazines, catalogs and retail inserts
Disaggregation Of Revenue [Line Items]
Revenue	493		1,019
Print | Magazines, catalogs and retail inserts | North America
Disaggregation Of Revenue [Line Items]
Revenue	442		910
Print | Magazines, catalogs and retail inserts | Europe
Disaggregation Of Revenue [Line Items]
Revenue	51		109
Print | Office Products
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Print | Directories
Disaggregation Of Revenue [Line Items]
Revenue	30		61
Print | Directories | North America
Disaggregation Of Revenue [Line Items]
Revenue	25		52
Print | Directories | Europe
Disaggregation Of Revenue [Line Items]
Revenue	5		9
Print | Major Products/Service Lines
Disaggregation Of Revenue [Line Items]
Revenue	789		1,595
Office Products | Book
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Magazines, catalogs and retail inserts
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Magazines, catalogs and retail inserts | North America
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Magazines, catalogs and retail inserts | Europe
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Office Products
Disaggregation Of Revenue [Line Items]
Revenue	154		277
Office Products | Directories
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Directories | North America
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Directories | Europe
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Office Products | Major Products/Service Lines
Disaggregation Of Revenue [Line Items]
Revenue	154		277
Products and Services Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Revenue	837		1,662
Products and Services Transferred at a Point in Time | Print
Disaggregation Of Revenue [Line Items]
Revenue	683		1,385
Products and Services Transferred at a Point in Time | Office Products
Disaggregation Of Revenue [Line Items]
Revenue	154		277
Products and Services Transferred Over Time
Disaggregation Of Revenue [Line Items]
Revenue	106		210
Products and Services Transferred Over Time | Print
Disaggregation Of Revenue [Line Items]
Revenue	106		210
Products and Services Transferred Over Time | Office Products
Disaggregation Of Revenue [Line Items]
Revenue	0		0
Timing of Revenue Recognition
Disaggregation Of Revenue [Line Items]
Revenue	943		1,872
Timing of Revenue Recognition | Print
Disaggregation Of Revenue [Line Items]
Revenue	789		1,595
Timing of Revenue Recognition | Office Products
Disaggregation Of Revenue [Line Items]
Revenue	$ 154		$ 277

Revenue Recognition - Schedul48

Revenue Recognition - Schedule of Information About Receivables, Contract Assets, Contract Liabilities from Contract with Customers (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018
Revenue From Contract With Customer [Abstract]
Trade receivables	$ 554	$ 647
Short-term contract assets	33	31
Long-term contract assets	35	36
Short-term contract liabilities	$ 19	$ 21

Revenue Recognition - Schedul49

Revenue Recognition - Schedule of Significant Changes in the Contract Assets and Contract Liabilities (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Contract Assets
Payment of contract acquisition costs	$ 5
Additions to unbilled accounts receivable	22
Amortization of contract acquisition costs	(6)
Unbilled accounts receivable recognized as receivables	(20)
Contract Liabilities
Revenue recognized that was included in contract liabilities as of January 1, 2018	(17)
Increases due to cash received	$ 15

Revenue Recognition - Schedul50

Revenue Recognition - Schedule of Transactions Affecting Allowance for Doubtful Accounts Receivable (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Revenue From Contract With Customer [Abstract]
Balance, beginning of year	$ 11
Provision for doubtful accounts receivable	4	$ 1
Balance, end of period	$ 15

Inventories - Components of the

Inventories - Components of the Company's Inventories (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory Net [Abstract]
Raw materials and manufacturing supplies	$ 154	$ 114
Work in process	64	69
Finished goods	92	112
Last in, first out ("LIFO") reserve	(58)	(57)
Total	$ 252	$ 238

Property, Plant and Equipment -

Property, Plant and Equipment - Components of the Company's Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Property Plant And Equipment [Abstract]
Land	$ 44	$ 45
Buildings	732	739
Machinery and equipment	3,956	4,012
Property, plant and equipment, gross	4,732	4,796
Accumulated depreciation	(4,188)	(4,220)
Total	$ 544	$ 576

Property, Plant and Equipment53

Property, Plant and Equipment - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Depreciation expense	$ 28	$ 33	$ 59	$ 68
Prepaid expenses and other current assets
Property Plant And Equipment [Line Items]
Net book value of assets held for sale	$ 10		$ 10		$ 7

Goodwill and Other Intangible54

Goodwill and Other Intangible Assets - Schedule of Changes in the Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill gross	$ 1,039	$ 1,044
Accumulated impairment losses	(957)	(962)
Goodwill	82	82
Print
Goodwill [Line Items]
Goodwill gross	929	934
Accumulated impairment losses	(878)	(883)
Goodwill	51	51
Office Products
Goodwill [Line Items]
Goodwill gross	110	110
Accumulated impairment losses	(79)	(79)
Goodwill	$ 31	$ 31

Goodwill and Other Intangible55

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Schedule Of Other Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	$ 265	$ 265
Accumulated Amortization, amortizable intangible assets	(138)	(129)
Net Book Value, amortizable intangible assets	127	136
Gross Carrying Amount, total other intangible assets	289	289
Net Book Value, total other intangible assets	151	160
Trade Names
Schedule Of Other Intangible Assets [Line Items]
Net Book Value, indefinite-lived trade names	24	24
Customer Relationships
Schedule Of Other Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	256	256
Accumulated Amortization, amortizable intangible assets	(133)	(125)
Net Book Value, amortizable intangible assets	123	131
Trade Names
Schedule Of Other Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	9	9
Accumulated Amortization, amortizable intangible assets	(5)	(4)
Net Book Value, amortizable intangible assets	$ 4	$ 5

Goodwill and Other Intangible56

Goodwill and Other Intangible Assets - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets	$ 4	$ 4	$ 9	$ 8

Goodwill and Other Intangible57

Goodwill and Other Intangible Assets - Schedule of Estimated Annual Amortization Expense Related to Other Intangible Assets (Detail) $ in Millions	Jun. 30, 2018USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2,018	$ 17
2,019	16
2,020	16
2,021	14
2,022	13
2023 and thereafter	60
Total	$ 136

Restructuring, Impairment and58

Restructuring, Impairment and Other Charges - Schedule of Net Restructuring, Impairment and Other Charges (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Cost And Reserve [Line Items]
Employee Terminations	$ 3	$ 3	$ 7	$ 7
Other Restructuring Charges	7	17	10	18
Total Restructuring Charges	10	20	17	25
Impairment	0	0	(1)	0
Other Charges	1	1	1	2
Total	11	21	17	27
Total Operating Segments | Print
Restructuring Cost And Reserve [Line Items]
Employee Terminations	2	3	5	6
Other Restructuring Charges	6	2	9	3
Total Restructuring Charges	8	5	14	9
Impairment	0	0	(1)	0
Other Charges	1	1	1	2
Total	9	6	14	11
Total Operating Segments | Office Products
Restructuring Cost And Reserve [Line Items]
Employee Terminations	0		1	1
Other Restructuring Charges	1		1	0
Total Restructuring Charges	1		2	1
Impairment	0		0	0
Other Charges	0		0	0
Total	1		2	1
Corporate
Restructuring Cost And Reserve [Line Items]
Employee Terminations	1	0	1	0
Other Restructuring Charges	0	15	0	15
Total Restructuring Charges	1	15	1	15
Impairment	0	0	0	0
Other Charges	0	0	0	0
Total	$ 1	$ 15	$ 1	$ 15

Restructuring, Impairment and59

Restructuring, Impairment and Other Charges - Narrative (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)Employee	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)EmployeeFacility	Jun. 30, 2017USD ($)EmployeeFacility
Restructuring Cost And Reserve [Line Items]
Other Restructuring Charges | $	$ 7	$ 17	$ 10	$ 18
Employee-related termination costs | $	$ 3	$ 3	$ 7	$ 7
Number of employees used to determine employee termination costs | Employee			304	504
Print
Restructuring Cost And Reserve [Line Items]
Number of facilities closed | Facility			1	1
Termination One
Restructuring Cost And Reserve [Line Items]
Number of employees who were terminated as of date | Employee	224		224

Restructuring, Impairment and60

Restructuring, Impairment and Other Charges - Other Charges - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Accrued liabilities	$ 203		$ 203		$ 239
Other noncurrent liabilities	67		67		$ 68
Other Charges	1	$ 1	1	$ 2
Multiemployer pension plan withdrawal obligations
Restructuring Cost And Reserve [Line Items]
Accrued liabilities	3		3
Other noncurrent liabilities	19		19
Other Charges	$ 1	$ 1	$ 1	$ 2

Restructuring, Impairment and61

Restructuring, Impairment and Other Charges - Schedule of Changes in the Restructuring Reserve (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Restructuring Cost And Reserve [Line Items]
Balance at the beginning	$ 26
Restructuring Charges	14
Other	19
Cash Paid	(17)
Balance at the end	42
Employee terminations
Restructuring Cost And Reserve [Line Items]
Balance at the beginning	8
Restructuring Charges	7
Other	0
Cash Paid	(9)
Balance at the end	6
Other
Restructuring Cost And Reserve [Line Items]
Balance at the beginning	2
Restructuring Charges	6
Other	0
Cash Paid	(5)
Balance at the end	3
Multiemployer pension plan withdrawal obligations
Restructuring Cost And Reserve [Line Items]
Balance at the beginning	16
Restructuring Charges	1
Other	19
Cash Paid	(3)
Balance at the end	$ 33

Restructuring, Impairment and62

Restructuring, Impairment and Other Charges - Restructuring Reserve - Narrative (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Current restructuring reserve	$ 14
Noncurrent restructuring reserve	28
Restructuring Reserve	42		$ 26
Restructuring Liabilities
Restructuring Cost And Reserve [Line Items]
Current restructuring reserve		$ 3
Noncurrent restructuring reserve		16
Multiemployer pension plan withdrawal obligations
Restructuring Cost And Reserve [Line Items]
Restructuring Reserve	$ 33		$ 16
Multiemployer pension plan withdrawal obligations | Restructuring Liabilities
Restructuring Cost And Reserve [Line Items]
Restructuring Reserve		$ 19

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Detail)	Jun. 30, 2018Facility
Commitments And Contingencies Disclosure [Abstract]
Number of sites cited as potentially responsible party	10
Number of previously and currently owned sites with potential remediation obligations	3

Debt - Schedule of the Company'

Debt - Schedule of the Company's Debt Obligations (Detail) - USD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Capital lease and other obligations		$ 3	$ 3
Unamortized debt issuance costs		(11)	(12)
Total debt		914	822
Less: current portion		(234)	(123)
Long-term debt		680	699
Borrowings under the Revolving Credit Facility
Debt Instrument [Line Items]
Term Loan Facility		190	75
Term Loan Facility due September 30, 2022
Debt Instrument [Line Items]
Term Loan Facility	[1]	282	306
8.75% Senior Secured Notes due October 15, 2023
Debt Instrument [Line Items]
Senior Secured Notes		$ 450	$ 450	$ 450
[1]	The borrowings under the Term Loan Facility are subject to a variable interest rate. As of June 30, 2018 and December 31, 2017, the interest rate was 7.59% and 7.07%, respectively.

Debt - Schedule of the Compan65

Debt - Schedule of the Company's Debt (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Term Loan Facility due September 30, 2022
Debt Instrument [Line Items]
Debt instrument, maturity date	Sep. 30, 2022
Debt instrument, variable interest rate	7.59%	7.07%
8.75% Senior Secured Notes due October 15, 2023
Debt Instrument [Line Items]
Debt instrument, interest rate	8.75%
Debt instrument, maturity date	Oct. 15, 2023

Debt - Narrative (Detail)

Debt - Narrative (Detail) - USD ($)		Nov. 17, 2017	Nov. 16, 2017	Feb. 02, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Amount of difference between fair value and book value					$ 2,000,000		$ 2,000,000		$ 20,000,000
Weighted average interest rate on borrowings							4.89%
Net interest expense					18,000,000	$ 16,000,000	$ 38,000,000	$ 33,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowings					190,000,000		190,000,000		75,000,000
Credit Agreements
Debt Instrument [Line Items]
Allowable annual dividend payment under credit agreement					50,000,000		50,000,000
Credit Agreements | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, principal amount										$ 400,000,000
Senior Secured Notes
Debt Instrument [Line Items]
Senior Secured Notes					450,000,000		$ 450,000,000		450,000,000	450,000,000
Debt instrument, maturity date							Oct. 15, 2023
Term Loan Facility due September 30, 2022
Debt Instrument [Line Items]
Debt instrument, maturity date							Sep. 30, 2022
Amortization payments paid in advance				$ 50,000,000
Credit facility borrowings	[1]				$ 282,000,000		$ 282,000,000		$ 306,000,000
Term Loan Facility due September 30, 2022 | Credit Agreements
Debt Instrument [Line Items]
Debt instrument, principal amount										$ 375,000,000
LIBOR floor rate		0.75%	1.00%
LIBOR reduced floor rate		0.25%
Debt instrument, frequency of periodic interest payment		quarterly	quarterly
Debt instrument, maturity date		Sep. 30, 2022	Sep. 30, 2022
Extinguishment of debt							65,000,000
Gain (Loss) on Extinguishment of Debt							3,000,000
Proceeds from issuance of long-term debt							$ 65,000,000
Term Loan Facility due September 30, 2022 | Credit Agreements | Quarterly Installment for First Eight Quarters
Debt Instrument [Line Items]
Debt instrument, amortize in quarterly installment		$ 13,000,000	$ 13,000,000
Term Loan Facility due September 30, 2022 | Credit Agreements | Quarterly Installment for Subsequent Quarters
Debt Instrument [Line Items]
Debt instrument, amortize in quarterly installment		$ 11,000,000	$ 11,000,000
Term Loan Facility due September 30, 2022 | Credit Agreements | Base Rate
Debt Instrument [Line Items]
Debt instrument, applicable margin rate		4.50%	5.00%
Term Loan Facility due September 30, 2022 | Credit Agreements | LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, applicable margin rate		5.50%	6.00%
Debt instrument, reduce in interest rate		0.50%
[1]	The borrowings under the Term Loan Facility are subject to a variable interest rate. As of June 30, 2018 and December 31, 2017, the interest rate was 7.59% and 7.07%, respectively.

Equity - Schedule of the Compan

Equity - Schedule of the Company's Equity Activity (Detail) - USD ($) $ in Millions	May 31, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Equity [Abstract]
Balance				$ 248	$ 240
Net (loss) income		$ 8	$ 5	(3)	4
Other comprehensive (loss) income		(10)	11	(1)	23
Share-based compensation				8	7
Issuance of share-based awards, net of withholdings and other				(2)	(1)
Repurchase of common stock	$ (20)			(20)	0
Revenue recognition adjustments				9	0
Cash dividends paid				(18)	(16)
Issuance of common stock				0	18
Separation-related adjustments				0	(12)
Balance		$ 221	$ 263	$ 221	$ 263

Equity - Narrative (Detail)

Equity - Narrative (Detail) - USD ($) $ in Millions	May 31, 2018	Mar. 28, 2017	Mar. 31, 2018	Jun. 30, 2018	Jun. 30, 2017
Equity [Line Items]
Repurchase of common stock, shares	1,600,000				0
Total repurchase cost	$ 20			$ 20	$ 0
Revenue recognition adjustments				9	0
Issuance of common stock, value				$ 0	$ 18
Over-allotment Option
Equity [Line Items]
Issuance of common stock, shares		900,000
Issuance of common stock, value		$ 18
ASU 2014-09
Equity [Line Items]
Revenue recognition adjustments			$ 9

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Detail) - USD ($) $ in Millions	May 31, 2018	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Repurchase of common stock, shares	1,600,000		0
Total repurchase cost	$ 20	$ 20	$ 0

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Basic and Diluted EPS as Well as Reconciliation of Basic Shares to Diluted Shares (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net earnings (loss) per common share:
Basic	$ 0.24	$ 0.13	$ (0.09)	$ 0.11
Diluted	0.23	0.12	(0.09)	0.11
Dividends declared per common share	$ 0.26	$ 0.25	$ 0.52	$ 0.50
Numerator:
Net income (loss)	$ 8	$ 5	$ (3)	$ 4
Denominator:
Weighted average number of common shares outstanding	34	33.5	34.3	33.1
Dilutive options and awards	0.3	0.3	0	0.3
Diluted weighted average number of common shares outstanding	34.3	33.8	34.3	33.4
Restricted Stock Units
Weighted-average number of anti-dilutive share-based awards:
Weighted-average number of anti-dilutive share-based awards	0.5	0.1	0	0
Options
Weighted-average number of anti-dilutive share-based awards:
Weighted-average number of anti-dilutive share-based awards	0.2	0	0	0

Retirement Plans - Components o

Retirement Plans - Components of Estimated Net Pension (Income) Loss (Detail) - Pension Benefits - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 22	$ 22	$ 44	$ 45
Expected return on plan assets	(39)	(38)	(78)	(76)
Amortization of actuarial loss	5	4	10	8
Net periodic benefit (income) loss	(12)	(12)	(24)	(23)
Qualified
Defined Benefit Plan Disclosure [Line Items]
Interest cost	21	21	42	43
Expected return on plan assets	(39)	(38)	(78)	(76)
Amortization of actuarial loss	5	4	10	8
Net periodic benefit (income) loss	(13)	(13)	(26)	(25)
Non-Qualified & International
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1	1	2	2
Expected return on plan assets	0	0	0	0
Amortization of actuarial loss	0	0	0	0
Net periodic benefit (income) loss	$ 1	$ 1	$ 2	$ 2
Defined Contribution Plan, Sponsor Location [Extensible List]	us-gaap:ForeignPlanMember	us-gaap:ForeignPlanMember	us-gaap:ForeignPlanMember	us-gaap:ForeignPlanMember

Comprehensive Income - Schedule

Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	$ 248	$ 240
Balance	221	263
Pension Plan Cost
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(428)	(462)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	8	5
Reclassification to accumulated deficit	(97)
Net change in accumulated other comprehensive loss	(89)	5
Balance	(517)	(457)
Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(48)	(69)
Other comprehensive income (loss) before reclassifications	(9)	18
Amounts reclassified from accumulated other comprehensive loss	0	0
Reclassification to accumulated deficit	0
Net change in accumulated other comprehensive loss	(9)	18
Balance	(57)	(51)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(476)	(531)
Other comprehensive income (loss) before reclassifications	(9)	18
Amounts reclassified from accumulated other comprehensive loss	8	5
Reclassification to accumulated deficit	(97)
Net change in accumulated other comprehensive loss	(98)	23
Balance	$ (574)	$ (508)

Comprehensive Income - Addition

Comprehensive Income - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
ASU 2018-02
Accumulated Other Comprehensive Income Loss [Line Items]
Cummulative effect on equity or net asset upon adoption of accounting standard	$ 97

Comprehensive Income - Schedu74

Comprehensive Income - Schedule of Reclassification From Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amortization of Pension Plan Cost: Net Actuarial Loss
Reclassification from Accumulated Other Comprehensive Loss
Reclassifications before tax	$ 5	$ 4	$ 10	$ 8
Accumulated Defined Benefit Plans Adjustment
Reclassification from Accumulated Other Comprehensive Loss
Reclassifications before tax	5	4	10	8
Income tax expense	1	2	2	3
Reclassifications, net of tax	$ 4	$ 2	$ 8	$ 5

Segment Information - Narrative

Segment Information - Narrative (Detail)	6 Months Ended
	Jun. 30, 2018Category
Office Products
Segment Reporting Information [Line Items]
Number of core product categories	5

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 943	$ 848	$ 1,872	$ 1,669
Income (loss) from Operations	18	7	12	14
Assets of Operations	1,921	1,851	1,921	1,851
Depreciation and Amortization	34	39	72	79
Capital Expenditures	17	15	37	36
Total Operating Segments
Segment Reporting Information [Line Items]
Net sales	943	848	1,872	1,669
Income (loss) from Operations	33	34	37	55
Assets of Operations	1,850	1,737	1,850	1,737
Depreciation and Amortization	33	39	71	78
Capital Expenditures	16	14	35	34
Total Operating Segments | Print
Segment Reporting Information [Line Items]
Net sales	789	723	1,595	1,433
Income (loss) from Operations	20	22	22	34
Assets of Operations	1,483	1,440	1,483	1,440
Depreciation and Amortization	30	36	64	71
Capital Expenditures	15	12	34	32
Total Operating Segments | Office Products
Segment Reporting Information [Line Items]
Net sales	154	125	277	236
Income (loss) from Operations	13	12	15	21
Assets of Operations	367	297	367	297
Depreciation and Amortization	3	3	7	7
Capital Expenditures	1	2	1	2
Corporate
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Income (loss) from Operations	(15)	(27)	(25)	(41)
Assets of Operations	71	114	71	114
Depreciation and Amortization	1	0	1	1
Capital Expenditures	$ 1	$ 1	$ 2	$ 2

Related Parties - Narrative (De

Related Parties - Narrative (Detail) - USD ($) shares in Millions, $ in Millions	Mar. 28, 2017	Mar. 31, 2017
RRD | Principal Owner
Related Party Transaction [Line Items]
Number of common stock shares sold	6.2
Ownership percentage	19.25%
Freight, logistics and premedia services purchased		$ 51
RRD's subsidiaries | Subsidiary of Common Parent
Related Party Transaction [Line Items]
Net revenues from related party sales		$ 32

Subsequent Events - Narrative (

Subsequent Events - Narrative (Detail) - USD ($) $ in Millions	Jul. 02, 2018	Jun. 30, 2018
Print | Europe
Subsequent Event [Line Items]
Impact on income tax provision related to reversal of estimated net deferred tax assets		$ 25
RRD’s Print Logistics Business | Subsequent Events
Subsequent Event [Line Items]
Purchase price of acquisition, cash	$ 58