Owens & Minor (OMI) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-9810
Entity Registrant Name	Owens & Minor, Inc.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1701843
Entity Address, Address Line One	9120 Lockwood Boulevard
Entity Address, City or Town	Mechanicsville
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23116
City Area Code	804
Local Phone Number	723-7000
Title of 12(b) Security	Common Stock, $2 par value per share
Trading Symbol	OMI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Smaller Reporting Entity	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,147,827
Entity Central Index Key	0000075252
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net revenue	$ 2,326,534	$ 2,122,693
Cost of goods sold	1,883,783	1,854,134
Gross margin	442,751	268,559
Distribution, selling and administrative expenses	292,701	254,048
Acquisition-related and exit and realignment charges	5,963	6,064
Other operating income, net	(2,605)	(2,309)
Operating income	146,692	10,756
Interest expense, net	13,672	23,342
Loss on extinguishment of debt	40,433	4,127
Other expense, net	569	719
Income (loss) from continuing operations before income taxes	92,018	(17,432)
Income tax provision (benefit)	22,429	(8,523)
Income (loss) from continuing operations, net of tax	69,589	(8,909)
Loss from discontinued operations, net of tax	0	(2,415)
Net income (loss)	$ 69,589	$ (11,324)
Income (loss) from continuing operations per common share: basic and diluted (in usd per share)	$ 0.98	$ (0.15)
Loss from discontinued operations per common share: basic and diluted (in usd per share)	0	(0.04)
Net income (loss) per common share: basic and diluted (in usd per share)	$ 0.98	$ (0.19)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 69,589	$ (11,324)
Other comprehensive income (loss), net of tax:
Currency translation adjustments	(12,262)	(28,178)
Change in unrecognized net periodic pension costs	121	170
Net gain (loss) on derivative instruments	20,044	(11,397)
Total other comprehensive income (loss), net of tax	7,903	(39,405)
Comprehensive income (loss)	$ 77,492	$ (50,729)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 54,455	$ 83,058
Accounts receivable, net of allowances of $21,231 and $19,087	736,176	700,792
Merchandise inventories	1,322,897	1,233,751
Other current assets	93,208	118,264
Total current assets	2,206,736	2,135,865
Property and equipment, net of accumulated depreciation of $292,568 and $284,126	307,852	315,662
Operating lease assets	155,152	144,755
Goodwill	391,349	394,086
Intangible assets, net	232,009	243,351
Other assets, net	97,723	101,920
Total assets	3,390,821	3,335,639
Current liabilities
Accounts payable	1,021,761	1,000,186
Accrued payroll and related liabilities	64,661	109,447
Other current liabilities	250,875	236,094
Total current liabilities	1,337,297	1,345,727
Long-term debt, excluding current portion	981,342	986,018
Operating lease liabilities, excluding current portion	130,565	119,932
Deferred income taxes	51,476	50,641
Other liabilities	103,880	121,267
Total liabilities	2,604,560	2,623,585
Commitments and contingencies
Equity
Common stock, par value $2 per share; authorized - 200,000 shares; issued and outstanding - 75,100 shares and 73,472 shares	150,200	146,944
Paid-in capital	430,490	436,597
Retained earnings	236,177	167,022
Accumulated other comprehensive loss	(30,606)	(38,509)
Total equity	786,261	712,054
Total liabilities and equity	$ 3,390,821	$ 3,335,639

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 21,231	$ 19,087
Property and equipment, accumulated depreciation	$ 292,568	$ 284,126
Common stock, par value (in usd per share)	$ 2	$ 2
Common stock, authorized (shares)	200,000	200,000
Common stock, issued (shares)	75,100	73,472
Common stock, outstanding (shares)	75,100	73,472

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities:
Net income (loss)	$ 69,589	$ (11,324)
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization	22,900	23,913
Share-based compensation expense	5,182	3,941
Impairment charges	0	9,080
Loss on extinguishment of debt	40,433	4,127
Provision for losses on accounts receivable	8,462	5,213
Deferred income tax (benefit) expense	(5,865)	6,348
Changes in operating lease right-of-use assets and lease liabilities	448	(714)
Changes in operating assets and liabilities:
Accounts receivable	(45,919)	(7,942)
Merchandise inventories	(89,393)	39,340
Accounts payable	18,742	98,743
Net change in other assets and liabilities	(1,666)	(77,178)
Other, net	2,510	(93)
Cash provided by operating activities	25,423	93,454
Investing activities:
Additions to property and equipment	(5,048)	(4,771)
Additions to computer software	(1,575)	(942)
Proceeds from sale of property and equipment	4	33
Cash used for investing activities	(6,619)	(5,680)
Financing activities:
Proceeds from issuance of debt	574,900	150,000
Repayments under revolving credit facility	(96,500)	(6,200)
Repayments of debt	(523,140)	(166,798)
Financing costs paid	(11,700)	(5,785)
Cash dividends paid	(181)	(155)
Payment for termination of interest rate swaps	(15,434)	0
Other, net	(8,339)	(2,468)
Cash used for financing activities	(80,394)	(31,406)
Effect of exchange rate changes on cash and cash equivalents	(2,139)	(62)
Net (decrease) increase in cash, cash equivalents and restricted cash	(63,729)	56,306
Cash, cash equivalents and restricted cash at beginning of period	134,506	84,687
Cash, cash equivalents and restricted cash at end of period	70,777	140,993
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	898	2,695
Interest paid	$ 10,255	$ 21,431

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2019		62,843
Beginning Balance at Dec. 31, 2019	$ 462,154	$ 125,686	$ 251,401	$ 137,774	$ (52,707)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,324)			(11,324)
Other comprehensive income (loss)	(39,405)				(39,405)
Dividends declared ($0.0025 per share)	(127)			(127)
Share-based compensation expense, exercises and other (in shares)		42
Share-based compensation expense, exercises and other	5,040	$ 84	4,956
Ending Balance (in shares) at Mar. 31, 2020		62,885
Ending Balance at Mar. 31, 2020	$ 416,338	$ 125,770	256,357	126,323	(92,112)
Beginning Balance (in shares) at Dec. 31, 2020	73,472	73,472
Beginning Balance at Dec. 31, 2020	$ 712,054	$ 146,944	436,597	167,022	(38,509)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	69,589			69,589
Other comprehensive income (loss)	7,903				7,903
Dividends declared ($0.0025 per share)	(434)			(434)
Share-based compensation expense, exercises and other (in shares)		1,628
Share-based compensation expense, exercises and other	$ (2,851)	$ 3,256	(6,107)
Ending Balance (in shares) at Mar. 31, 2021	75,100	75,100
Ending Balance at Mar. 31, 2021	$ 786,261	$ 150,200	$ 430,490	$ 236,177	$ (30,606)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in usd per share)	$ 2	$ 2
Dividends declared, per share (in usd per share)	$ 0.0025	$ 0.0025

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Owens & Minor, Inc. and the subsidiaries it controls (we, us, or our) and contain all adjustments (which are comprised only of normal recurring accruals and use of estimates) necessary to conform with U.S. generally accepted accounting principles (GAAP). All significant intercompany accounts and transactions have been eliminated. The Movianto business represented a component that met accounting requirements to be classified as discontinued operations for the three months ended March 31, 2020. In accordance with GAAP, the results of operations of the Movianto business are presented as discontinued operations through June 18, 2020 (the Divestiture Date) and, as such, have been excluded from continuing operations for the three months ended March 31, 2020. With the exception of Note 3, the Notes to Consolidated Financial Statements reflect the continuing operations of Owens & Minor, Inc. and its subsidiaries. See Note 3 for additional information regarding discontinued operations. The results of operations for interim periods are not necessarily indicative of the results expected for the full year. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash includes cash and marketable securities with an original maturity or maturity at acquisition of three months or less. Cash, cash equivalents and restricted cash are stated at cost. Nearly all of our cash, cash equivalents and restricted cash are held in cash depository accounts in major banks in the United States, Europe, and Asia. Cash that is held by a major bank and has restrictions on its availability to us is classified as restricted cash. Restricted cash included in Other assets, net as of March 31, 2021 represents cash held in an escrow account as required by the Centers for Medicare & Medicaid Services (CMS) in conjunction with the Bundled Payments for Care Improvement (BPCI) Advanced Program. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that sum to the total of those same amounts presented in the accompanying consolidated statements of cash flows. March 31, 2021 December 31, 2020 Cash and cash equivalents $ 54,455 $ 83,058 Restricted cash included in Other current assets — 35,126 Restricted cash included in Other assets, net 16,322 16,322 Total cash, cash equivalents, and restricted cash $ 70,777 $ 134,506

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	Fair ValueThe carrying amounts of cash and cash equivalents, accounts receivable and accounts payable reported in the consolidated balance sheets approximate fair value due to the short-term nature of these instruments. The carrying amount of restricted cash also approximates fair value due to its nature. The fair value of debt is estimated based on quoted market prices or dealer quotes for the identical liability when traded as an asset in an active market (Level 1) or, if quoted market prices or dealer quotes are not available, on the borrowing rates currently available for loans with similar terms, credit ratings, and average remaining maturities (Level 2). See Note 6 for the fair value of debt. The fair value of foreign currency contracts is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. See Note 8 for the fair value of derivatives.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On June 18, 2020, we completed the divestiture of our European logistics business, Movianto (the Divestiture), as well as certain support functions in our Dublin office, to Walden Group SAS (the Buyer) and EHDH (as Buyer’s guarantor) for cash consideration of $133 million. We concluded that the Movianto business met the criteria for discontinued operations through the Divestiture Date, as the intention to sell represented a strategic shift and the criteria for held-for-sale were met. Movianto was previously reported in the Global Solutions segment. Accordingly, the results of operations from the Movianto business are reported in the accompanying consolidated statements of operations as Loss from discontinued operations, net of tax for the three months ended March 31, 2020. The following table summarizes the financial results of our discontinued operations for the three months ended March 31, 2020: Three Months Ended March 31, 2020 Net revenue $ 122,342 Cost of goods sold 32,106 Gross margin 90,236 Distribution, selling, and administrative expenses 80,953 Asset impairment charges 9,080 Acquisition-related and exit and realignment charges 271 Other operating income, net (461) Operating income 393 Interest expense, net 1,720 Loss from discontinued operations before income taxes (1,327) Income tax provision from discontinued operations 1,088 Loss from discontinued operations, net of tax $ (2,415) We suspended depreciation and amortization on assets that are held-for-sale, including right-of-use assets recorded in accordance with ASU No. 2016-02, for three months ended March 31, 2020. No revenue or expense have been recorded in discontinued operations related to the disposal group subsequent to the Divestiture Date. We have entered into transition services agreements with a subsidiary of the Buyer, pursuant to which we and a subsidiary of the Buyer will provide to each other various transitional services. Certain transition service arrangement costs and reimbursements were recorded during the three months ended March 31, 2021 and were immaterial for the period presented. We had no assets and liabilities of the discontinued Movianto business reflected on the consolidated balance sheets at March 31, 2021 and December 31, 2020. The following table provides operating and investing cash flow information for our discontinued operations: Three Months Ended March 31, 2020 Operating Activities: Depreciation and amortization $ — Impairment charges 9,080 Investing Activities: Capital expenditures 1,664

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table summarizes the goodwill balances by segment and the changes in the carrying amount of goodwill through March 31, 2021: Global Solutions Global Products Consolidated Carrying amount of goodwill, December 31, 2020 $ 283,905 $ 110,181 $ 394,086 Currency translation adjustments — (2,737) (2,737) Carrying amount of goodwill, March 31, 2021 $ 283,905 $ 107,444 $ 391,349 Intangible assets at March 31, 2021 and December 31, 2020 were as follows: March 31, 2021 December 31, 2020 Customer Tradenames Other Customer Tradenames Other Gross intangible assets $ 268,688 $ 90,000 $ 43,238 $ 270,505 $ 90,000 $ 43,245 Accumulated amortization (127,344) (26,972) (15,601) (121,209) (24,881) (14,309) Net intangible assets $ 141,344 $ 63,028 $ 27,637 $ 149,296 $ 65,119 $ 28,936 Weighted average useful life 10 years 11 years 8 years 10 years 11 years 8 years At March 31, 2021, $59.1 million in net intangible assets were held in the Global Solutions segment and $173 million were held in the Global Products segment. Amortization expense for intangible assets was $10.0 million and $10.6 million for the three months ended March 31, 2021 and 2020. Based on the current carrying value of intangible assets subject to amortization, estimated amortization expense is $29.9 million for the remainder of 2021, $38.9 million for 2022, $38.7 million for 2023, $33.9 million for 2024, $28.2 million for 2025 and $26.8 million for 2026.

Exit and Realignment Costs

Exit and Realignment Costs	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Exit and Realignment Costs	Exit and Realignment Costs We periodically incur exit and realignment and other charges associated with optimizing our operations which includes the consolidation of certain distribution and outsourced logistics centers, administrative offices and warehouses, our client engagement center and IT restructuring charges. These charges also include costs associated with our strategic organizational realignment which include management changes, certain professional fees, and costs to streamline administrative functions and processes and divestiture related costs. Exit and realignment charges by segment for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended 2021 2020 Global Solutions segment $ 4,663 $ 1,829 Global Products segment 1,300 — Total exit and realignment charges $ 5,963 $ 1,829 The following table summarizes the activity related to exit and realignment cost accruals through March 31, 2021 and 2020: ` Total Accrued exit and realignment costs, December 31, 2020 $ 3,146 Provision for exit and realignment activities: Information system restructuring costs 1,029 Lease obligations 347 Other 781 Cash payments (2,915) Accrued exit and realignment costs, March 31, 2021 $ 2,388 Accrued exit and realignment costs, December 31, 2019 $ 8,162 Provision for exit and realignment activities: Severance 1,391 Information system restructuring costs 183 Lease obligations 202 Other 53 Cash payments (5,799) Accrued exit and realignment costs, March 31, 2020 $ 4,192 In addition to the exit and realignment accruals in the preceding table, we also incurred $3.8 million of costs that were expensed as incurred for the three months ended March 31, 2021, including $3.2 million related to an increase in reserves associated with certain retained assets of Fusion5, $0.5 million in impairment charges related to our client engagement center, and $0.1 million in other asset charges. There were no acquisition-related charges included within acquisition-related and exit and realignment charges presented in our consolidated statements of operations for the three months ended March 31, 2021. Acquisition-related charges included within acquisition-related and exit and realignment charges presented in our consolidated statements of operations were $4.2 million for the three months ended March 31, 2020 and consisted primarily of transition costs for the Halyard acquisition.

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following: March 31, 2021 December 31, 2020 Carrying Estimated Carrying Estimated 4.375% Senior Notes, due December 2024 $ 244,862 $ 254,183 $ 244,780 $ 253,241 4.500% Senior Notes, due March 2029 491,299 503,475 — — Term Loan A-2 — — 33,865 34,390 Term Loan B — — 477,525 486,614 Revolver 6,700 6,700 103,200 103,200 Receivables Securitization Program 226,004 230,000 152,929 155,100 Finance leases and other 13,543 13,543 13,668 13,668 Total debt 982,408 1,007,901 1,025,967 1,046,213 Less current maturities (1,066) (1,066) (39,949) (40,453) Long-term debt $ 981,342 $ 1,006,835 $ 986,018 $ 1,005,760 We have $246 million, excluding debt issuance costs and deferred fees, of 4.375% senior notes due in 2024 (the 2024 Notes), with interest payable semi-annually. The 2024 Notes were sold at 99.6% of the principal amount with an effective yield of 4.422%. We have the option to redeem the 2024 Notes in part or in whole prior to maturity at a redemption price equal to the greater of 100% of the principal amount or the present value of the remaining scheduled payments discounted at the applicable Benchmark Treasury Rate plus 30 basis points. In March 2021, we issued $500 million, excluding debt issuance costs and deferred fees, of 4.500% senior unsecured notes due in 2029 (the 2029 Unsecured Notes), with interest payable semi-annually (the Notes Offering). The 2029 Unsecured Notes were sold at 100% of the principal amount with an effective yield of 4.500% . We used a portion of the net proceeds from the Notes Offering to repay our Term B Loan and borrowings under our revolving credit facility. In connection with these repayments, we recorded $15.3 million in write-offs of deferred financing costs and third party fees within l oss on extinguishment of debt for the three months ended March 31, 2021 . We may redeem all or part of the 2029 Unsecured Notes prior to March 31, 2024, at a price equal to 100% of the principal amount of the 2029 Unsecured Notes redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, plus a “make-whole” premium, as described in the Indenture dated March 10, 2021 (the Indenture). On or after March 31, 2024, we may redeem all or part of the 2029 Unsecured Notes at the applicable redemption prices described in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. We may also redeem up to 40% of the aggregate principal amount of the 2029 Unsecured Notes at any time prior to March 31, 2024, at a redemption price equal to 104.5% with an amount equal to or less than the net cash proceeds from certain equity offerings, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. On March 10, 2021, we terminated our then existing credit agreement and all obligations thereunder were repaid. On that same date, we entered into a new credit agreement with Bank of America, N.A. and a syndicate of lenders (the Credit Agreement) with a $300 million revolving credit facility. The interest rate on our revolving credit facility is based on a spread over either the Eurocurrency Rate or the Base Rate (each as defined in the Credit Agreement). The Credit Agreement matures in March 2026. At March 31, 2021 and December 31, 2020, we had borrowings of $6.7 million and $103 million and letters of credit of $11.4 million and $13.9 million outstanding under our revolving credit facilities. At March 31, 2021 and December 31, 2020, we had $282 million and $283 million available for borrowing. We also had letters of credit and bank guarantees outstanding for $1.9 million and $1.6 million as of March 31, 2021 and December 31, 2020, which supports certain leased facilities as well as other normal business activities in the United States and Europe. These letters of credit and guarantees were issued independent of the Credit Agreement. We entered into a Security and Pledge Agreement (the Security Agreement), dated March 10, 2021, pursuant to which we granted collateral on behalf of the holders of the 2024 Notes, and the parties secured under the Credit Agreement (the Secured Parties) including first priority liens and security interests in (a) all present and future shares of capital stock owned by the Credit Parties (as defined) in the Credit Parties’ present and future subsidiaries and (b) all present and future personal property and assets of the Credit Parties, subject to certain exceptions. The Credit Agreement included additional collateral requirements of the Credit Parties, including an obligation to pledge our owned U.S. real estate and the remaining equity interests in foreign subsidiaries. On March 10, 2021, we entered into an amendment to our accounts receivable securitization program (the Receivables Securitization Program). Pursuant to the amended Receivables Securitization Program, the aggregate principal amount of the loans made by the Lenders (as defined) will not exceed $450 million outstanding at any time. The interest rate under the Receivables Securitization Program is based on a spread over the London Interbank Offered Rate (LIBOR) or successor rate. Under the Receivables Securitization Program, certain of our subsidiaries sell substantially all of their accounts receivable balances to our wholly owned special purpose entity, O&M Funding LLC. The Receivables Securitization Program matures in March 2024. The Credit Agreement, Receivables Securitization Program, 2024 Notes and 2029 Unsecured Notes contain cross-default provisions which could result in the acceleration of payments due in the event of default of either agreement. The terms of the Credit Agreement also require us to maintain ratios for leverage and interest coverage, including on a pro forma basis in the event of an acquisition or divestiture. We were in compliance with our debt covenants at March 31, 2021. As of March 31, 2021, scheduled future principal payments of debt, excluding finance leases and other, were $476 million in 2024, $6.7 million in 2026, and $500 million in 2029. Current maturities include $1.1 million in current portion of finance leases.

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans We have a noncontributory, unfunded retirement plan for certain retirees in the United States. Certain of our foreign subsidiaries also have defined benefit pension plans covering substantially all of their respective teammates. The components of net periodic benefit cost for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended 2021 2020 Service cost $ 704 $ 351 Interest cost 446 494 Recognized net actuarial loss 353 214 Net periodic benefit cost $ 1,503 $ 1,059

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We are directly and indirectly affected by changes in foreign currency, which may adversely impact our financial performance and are referred to as “market risks.” When deemed appropriate, we use derivatives as a risk management tool to mitigate the potential impact of certain market risks. We do not enter into derivative financial instruments for trading purposes. We enter into foreign currency contracts to manage our foreign exchange exposure related to certain balance sheet items that do not meet the requirements for hedge accounting. These derivative instruments are adjusted to fair value at the end of each period through earnings. The gain or loss recorded on these instruments is substantially offset by the remeasurement adjustment on the foreign currency denominated asset or liability. We determine the fair value of our foreign currency derivatives based on observable market-based inputs or unobservable inputs that are corroborated by market data. We do not view the fair value of our derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying exposure. All derivatives are carried at fair value in our consolidated balance sheets in other current assets and other current liabilities. We consider the risk of counterparty default to be minimal. We report cash flows from our hedging instruments in the same cash flow statement category as the hedged items. The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of March 31, 2021: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Economic (non-designated) hedges Foreign currency contracts $ 18,700 April 2021 Other current assets $ — Other current liabilities $ 110 In March 2021, we terminated the remaining $300 million in notional value of interest rate swaps. In September 2020, we had previously terminated $150 million in notional value of interest rate swaps. The remaining balance of the fair value adjustments of $25.1 million, which related to these terminated interest rate swaps, within Accumulated other comprehensive loss was reclassified to Loss on extinguishment of debt within our Consolidated Statements of Operations for the three months ended March 31, 2021. The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 31, 2020: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Cash flow hedges Interest rate swaps $ 300,000 May 2022 and May 2025 Other assets, net $ — Other liabilities $ 17,872 Economic (non-designated) hedges Foreign currency contracts $ 30,300 January 2021 Other current assets $ 151 Other current liabilities $ — The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three months ended March 31, 2021: Amount of Gain Recognized in Other Comprehensive Income Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Interest rate swaps $ 2,426 Loss on extinguishment of debt $ (40,433) $ (25,518) The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three months ended March 31, 2020: Amount of Loss Recognized in Other Comprehensive Loss Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Interest rate swaps $ (16,958) Interest expense, net $ (23,342) $ (1,259) The amount of ineffectiveness associated with these contracts was immaterial for the periods presented. For the three months ended March 31, 2021 and 2020, we recognized losses of $1.0 million and $2.7 million associated with our economic (non-designated) foreign currency contracts. We recorded the change in fair value of derivative instruments and the remeasurement adjustment of the foreign currency denominated asset or liability in other operating income, net for our foreign exchange contracts.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 24.4% for the three months ended March 31, 2021, compared to a tax benefit of 48.9% in the same quarter of 2020. The change in these rates resulted primarily from an income tax benefit recorded in the first quarter of 2020 associated with the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the mixture of income and losses in jurisdictions in which we operate, and the incremental income tax benefit associated with the vesting of restricted stock recorded in the first quarter of 2021. The liability for unrecognized tax benefits was $21.0 million at March 31, 2021 and $20.8 million at December 31, 2020. Included in the liability at March 31, 2021 and December 31, 2020 were $2.7 million of tax positions for which ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. On August 26, 2020, we received a Notice of Proposed Adjustment (NOPA) from the Internal Revenue Services (IRS) regarding our 2015 and 2016 consolidated income tax returns. Within the NOPA, the IRS has asserted that our taxable income for 2015 and 2016 should be higher based on their assessment of the appropriate amount of taxable income that we should

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income (Loss) per Common Share	Net Income (Loss) per Common Share The following summarizes the calculation of net income (loss) per common share attributable to common shareholders for the three months ended March 31, 2021 and 2020: Three Months Ended (in thousands, except per share data) 2021 2020 Weighted average shares outstanding - basic 70,834 60,571 Dilutive shares 104 — Weighted average shares outstanding - diluted 70,938 60,571 Income (loss) from continuing operations $ 69,589 $ (8,909) Basic and diluted per share $ 0.98 $ (0.15) Loss from discontinued operations $ — $ (2,415) Basic and diluted per share $ — $ (0.04) Net income (loss) $ 69,589 $ (11,324) Basic and diluted per share $ 0.98 $ (0.19)

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Shareholders' Equity	Shareholders' EquityIn May 2020, we entered into an equity distribution agreement, pursuant to which we may offer and sell, from time to time, shares of our common stock having an aggregate offering price of up to $50.0 million. We intend to use the net proceeds from the sale of our securities offered by this program for the repayment of indebtedness and/or for general corporate and working capital purposes. As of March 31, 2021, no shares were issued and $50.0 million of common stock remained available under the at-the-market equity financing program.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table shows the changes in accumulated other comprehensive loss by component for the three months ended March 31, 2021 and 2020: Retirement Plans Currency Derivatives Total Accumulated other comprehensive loss, December 31, 2020 $ (18,447) $ (18) $ (20,044) $ (38,509) Other comprehensive income (loss) before reclassifications — (12,262) 2,426 (9,836) Income tax — — (611) (611) Other comprehensive income (loss) before reclassifications, net of tax — (12,262) 1,815 (10,447) Amounts reclassified from accumulated other comprehensive loss 156 — 25,518 25,674 Income tax (35) — (7,289) (7,324) Amounts reclassified from accumulated other comprehensive loss, net of tax 121 — 18,229 18,350 Other comprehensive income (loss) 121 (12,262) 20,044 7,903 Accumulated other comprehensive loss, March 31, 2021 $ (18,326) $ (12,280) $ — $ (30,606) Retirement Plans Currency Translation Adjustments Derivatives Total Accumulated other comprehensive loss, December 31, 2019 $ (14,691) $ (25,301) $ (12,715) $ (52,707) Other comprehensive loss before reclassifications — (28,178) (16,958) (45,136) Income tax — — 4,646 4,646 Other comprehensive loss before reclassifications, net of tax — (28,178) (12,312) (40,490) Amounts reclassified from accumulated other comprehensive loss 214 — 1,259 1,473 Income tax (44) — (344) (388) Amounts reclassified from accumulated other comprehensive loss, net of tax 170 — 915 1,085 Other comprehensive income (loss) 170 (28,178) (11,397) (39,405) Accumulated other comprehensive loss, March 31, 2020 $ (14,521) $ (53,479) $ (24,112) $ (92,112)

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information We periodically evaluate our application of accounting guidance for reportable segments and disclose information about reportable segments based on the way management organizes the enterprise for making operating decisions and assessing performance. We report our business under two segments: Global Solutions and Global Products. The Global Solutions segment includes our United States distribution, outsourced logistics and value-added services business. Global Products manufactures and sources medical surgical products through our production and kitting operations. We evaluate the performance of our segments based on their operating income excluding intangible amortization and acquisition-related and exit and realignment charges that, either as a result of their nature or size, would not be expected to occur as part of our normal business operations on a regular basis. Segment assets exclude inter-segment account balances as we believe their inclusion would be misleading and not meaningful. We believe all inter-segment sales are at prices that approximate market. The following tables present financial information by segment: Three Months Ended 2021 2020 Net revenue: Global Solutions $ 1,849,509 $ 1,847,593 Global Products 658,750 391,192 Total segment net revenue 2,508,259 2,238,785 Inter-segment revenue Global Products (181,725) (116,092) Total inter-segment revenue (181,725) (116,092) Consolidated net revenue $ 2,326,534 $ 2,122,693 Operating income: Global Solutions $ 8,892 $ 7,691 Global Products 163,587 18,571 Inter-segment eliminations (9,798) 1,169 Intangible amortization (10,026) (10,611) Acquisition-related and exit and realignment charges (5,963) (6,064) Consolidated operating income $ 146,692 $ 10,756 Depreciation and amortization: Global Solutions $ 9,839 $ 10,636 Global Products 13,061 13,277 Consolidated depreciation and amortization $ 22,900 $ 23,913 Capital expenditures: Global Solutions $ 3,000 $ 1,032 Global Products 3,623 3,017 Discontinued operations — 1,664 Consolidated capital expenditures $ 6,623 $ 5,713 March 31, 2021 December 31, 2020 Total assets: Global Solutions $ 2,072,642 $ 2,117,372 Global Products 1,263,724 1,135,209 Segment assets 3,336,366 3,252,581 Cash and cash equivalents 54,455 83,058 Consolidated total assets $ 3,390,821 $ 3,335,639 The following table presents net revenue by geographic area, which were attributed based on the location from which we ship products or provide services. Three Months Ended March 31, 2021 2020 Net revenue: United States $ 2,182,755 $ 2,033,454 International 143,779 89,239 Consolidated net revenue $ 2,326,534 $ 2,122,693

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted ASU No. 2019-12 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. At the present time, none of our lenders have requested that we transition away from LIBOR for our borrowings that bear interest based on LIBOR and we will continue to evaluate the impact through transition. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements, to improve consistency by amending the FASB Accounting Standards Codification (the Codification) to include all disclosure guidance in the appropriate disclosure sections. This ASU also clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The amendments in this ASU do not change GAAP and, therefore, are not expected to result in a significant change in practice. We adopted ASU No. 2020-10 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Owens & Minor, Inc. and the subsidiaries it controls (we, us, or our) and contain all adjustments (which are comprised only of normal recurring accruals and use of estimates) necessary to conform with U.S. generally accepted accounting principles (GAAP). All significant intercompany accounts and transactions have been eliminated. The Movianto business
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashCash, cash equivalents and restricted cash includes cash and marketable securities with an original maturity or maturity at acquisition of three months or less. Cash, cash equivalents and restricted cash are stated at cost. Nearly all of our cash, cash equivalents and restricted cash are held in cash depository accounts in major banks in the United States, Europe, and Asia. Cash that is held by a major bank and has restrictions on its availability to us is classified as restricted cash. Restricted cash included in Other assets, net as of March 31, 2021 represents cash held in an escrow account as required by the Centers for Medicare & Medicaid Services (CMS) in conjunction with the Bundled Payments for Care Improvement (BPCI) Advanced Program.
Fair Value	The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable reported in the consolidated balance sheets approximate fair value due to the short-term nature of these instruments. The carrying amount of restricted cash also approximates fair value due to its nature. The fair value of debt is estimated based on quoted market prices or dealer quotes for the identical liability when traded as an asset in an active market (Level 1) or, if quoted market prices or dealer quotes are not available, on the borrowing rates currently available for loans with similar terms, credit ratings, and average remaining maturities (Level 2). See Note 6 for the fair value of debt. The fair value of foreign currency contracts is determined based on the present value of expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Observable Level 2 inputs are used to determine the present value of expected future cash flows. See Note 8 for the fair value of derivatives.
Segment Reporting	We periodically evaluate our application of accounting guidance for reportable segments and disclose information about reportable segments based on the way management organizes the enterprise for making operating decisions and assessing performance. We report our business under two segments: Global Solutions and Global Products. The Global Solutions segment includes our United States distribution, outsourced logistics and value-added services business. Global Products manufactures and sources medical surgical products through our production and kitting operations. We evaluate the performance of our segments based on their operating income excluding intangible amortization and acquisition-related and exit and realignment charges that, either as a result of their nature or size, would not be expected to occur as part of our normal business operations on a regular basis.
Recent Accounting Pronouncements	In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. Most amendments within the standard are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. We adopted ASU No. 2019-12 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. At the present time, none of our lenders have requested that we transition away from LIBOR for our borrowings that bear interest based on LIBOR and we will continue to evaluate the impact through transition. In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements, to improve consistency by amending the FASB Accounting Standards Codification (the Codification) to include all disclosure guidance in the appropriate disclosure sections. This ASU also clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The amendments in this ASU do not change GAAP and, therefore, are not expected to result in a significant change in practice. We adopted ASU No. 2020-10 effective beginning January 1, 2021. Its adoption did not have a material impact on our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that sum to the total of those same amounts presented in the accompanying consolidated statements of cash flows. March 31, 2021 December 31, 2020 Cash and cash equivalents $ 54,455 $ 83,058 Restricted cash included in Other current assets — 35,126 Restricted cash included in Other assets, net 16,322 16,322 Total cash, cash equivalents, and restricted cash $ 70,777 $ 134,506
Schedule of Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying consolidated balance sheets that sum to the total of those same amounts presented in the accompanying consolidated statements of cash flows. March 31, 2021 December 31, 2020 Cash and cash equivalents $ 54,455 $ 83,058 Restricted cash included in Other current assets — 35,126 Restricted cash included in Other assets, net 16,322 16,322 Total cash, cash equivalents, and restricted cash $ 70,777 $ 134,506

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table summarizes the financial results of our discontinued operations for the three months ended March 31, 2020: Three Months Ended March 31, 2020 Net revenue $ 122,342 Cost of goods sold 32,106 Gross margin 90,236 Distribution, selling, and administrative expenses 80,953 Asset impairment charges 9,080 Acquisition-related and exit and realignment charges 271 Other operating income, net (461) Operating income 393 Interest expense, net 1,720 Loss from discontinued operations before income taxes (1,327) Income tax provision from discontinued operations 1,088 Loss from discontinued operations, net of tax $ (2,415) The following table provides operating and investing cash flow information for our discontinued operations: Three Months Ended March 31, 2020 Operating Activities: Depreciation and amortization $ — Impairment charges 9,080 Investing Activities: Capital expenditures 1,664

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill	The following table summarizes the goodwill balances by segment and the changes in the carrying amount of goodwill through March 31, 2021: Global Solutions Global Products Consolidated Carrying amount of goodwill, December 31, 2020 $ 283,905 $ 110,181 $ 394,086 Currency translation adjustments — (2,737) (2,737) Carrying amount of goodwill, March 31, 2021 $ 283,905 $ 107,444 $ 391,349
Intangible assets	Intangible assets at March 31, 2021 and December 31, 2020 were as follows: March 31, 2021 December 31, 2020 Customer Tradenames Other Customer Tradenames Other Gross intangible assets $ 268,688 $ 90,000 $ 43,238 $ 270,505 $ 90,000 $ 43,245 Accumulated amortization (127,344) (26,972) (15,601) (121,209) (24,881) (14,309) Net intangible assets $ 141,344 $ 63,028 $ 27,637 $ 149,296 $ 65,119 $ 28,936 Weighted average useful life 10 years 11 years 8 years 10 years 11 years 8 years

Exit and Realignment Costs (Tab

Exit and Realignment Costs (Tables)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Summary of exit and realignment charges by segment	Exit and realignment charges by segment for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended 2021 2020 Global Solutions segment $ 4,663 $ 1,829 Global Products segment 1,300 — Total exit and realignment charges $ 5,963 $ 1,829
Schedule of restructuring and related costs accrual activity	The following table summarizes the activity related to exit and realignment cost accruals through March 31, 2021 and 2020: ` Total Accrued exit and realignment costs, December 31, 2020 $ 3,146 Provision for exit and realignment activities: Information system restructuring costs 1,029 Lease obligations 347 Other 781 Cash payments (2,915) Accrued exit and realignment costs, March 31, 2021 $ 2,388 Accrued exit and realignment costs, December 31, 2019 $ 8,162 Provision for exit and realignment activities: Severance 1,391 Information system restructuring costs 183 Lease obligations 202 Other 53 Cash payments (5,799) Accrued exit and realignment costs, March 31, 2020 $ 4,192

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of debt	Debt consists of the following: March 31, 2021 December 31, 2020 Carrying Estimated Carrying Estimated 4.375% Senior Notes, due December 2024 $ 244,862 $ 254,183 $ 244,780 $ 253,241 4.500% Senior Notes, due March 2029 491,299 503,475 — — Term Loan A-2 — — 33,865 34,390 Term Loan B — — 477,525 486,614 Revolver 6,700 6,700 103,200 103,200 Receivables Securitization Program 226,004 230,000 152,929 155,100 Finance leases and other 13,543 13,543 13,668 13,668 Total debt 982,408 1,007,901 1,025,967 1,046,213 Less current maturities (1,066) (1,066) (39,949) (40,453) Long-term debt $ 981,342 $ 1,006,835 $ 986,018 $ 1,005,760

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for domestic retirement plan	The components of net periodic benefit cost for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended 2021 2020 Service cost $ 704 $ 351 Interest cost 446 494 Recognized net actuarial loss 353 214 Net periodic benefit cost $ 1,503 $ 1,059

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments	The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of March 31, 2021: Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Economic (non-designated) hedges Foreign currency contracts $ 18,700 April 2021 Other current assets $ — Other current liabilities $ 110 Derivative Assets Derivative Liabilities Notional Amount Maturity Date Classification Fair Value Classification Fair Value Cash flow hedges Interest rate swaps $ 300,000 May 2022 and May 2025 Other assets, net $ — Other liabilities $ 17,872 Economic (non-designated) hedges Foreign currency contracts $ 30,300 January 2021 Other current assets $ 151 Other current liabilities $ —
Schedule of cash flow hedges included in accumulated other comprehensive income (loss)	The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three months ended March 31, 2021: Amount of Gain Recognized in Other Comprehensive Income Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Interest rate swaps $ 2,426 Loss on extinguishment of debt $ (40,433) $ (25,518) The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three months ended March 31, 2020: Amount of Loss Recognized in Other Comprehensive Loss Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Total Amount of Expense Line Items Presented in the Consolidated Statement of Operations in Which the Effects are Recorded Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income Interest rate swaps $ (16,958) Interest expense, net $ (23,342) $ (1,259) The amount of ineffectiveness associated with these contracts was immaterial for the periods presented.

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Summary of calculation of net loss per common share	The following summarizes the calculation of net income (loss) per common share attributable to common shareholders for the three months ended March 31, 2021 and 2020: Three Months Ended (in thousands, except per share data) 2021 2020 Weighted average shares outstanding - basic 70,834 60,571 Dilutive shares 104 — Weighted average shares outstanding - diluted 70,938 60,571 Income (loss) from continuing operations $ 69,589 $ (8,909) Basic and diluted per share $ 0.98 $ (0.15) Loss from discontinued operations $ — $ (2,415) Basic and diluted per share $ — $ (0.04) Net income (loss) $ 69,589 $ (11,324) Basic and diluted per share $ 0.98 $ (0.19)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Changes in accumulated other comprehensive income (loss) by component	The following table shows the changes in accumulated other comprehensive loss by component for the three months ended March 31, 2021 and 2020: Retirement Plans Currency Derivatives Total Accumulated other comprehensive loss, December 31, 2020 $ (18,447) $ (18) $ (20,044) $ (38,509) Other comprehensive income (loss) before reclassifications — (12,262) 2,426 (9,836) Income tax — — (611) (611) Other comprehensive income (loss) before reclassifications, net of tax — (12,262) 1,815 (10,447) Amounts reclassified from accumulated other comprehensive loss 156 — 25,518 25,674 Income tax (35) — (7,289) (7,324) Amounts reclassified from accumulated other comprehensive loss, net of tax 121 — 18,229 18,350 Other comprehensive income (loss) 121 (12,262) 20,044 7,903 Accumulated other comprehensive loss, March 31, 2021 $ (18,326) $ (12,280) $ — $ (30,606) Retirement Plans Currency Translation Adjustments Derivatives Total Accumulated other comprehensive loss, December 31, 2019 $ (14,691) $ (25,301) $ (12,715) $ (52,707) Other comprehensive loss before reclassifications — (28,178) (16,958) (45,136) Income tax — — 4,646 4,646 Other comprehensive loss before reclassifications, net of tax — (28,178) (12,312) (40,490) Amounts reclassified from accumulated other comprehensive loss 214 — 1,259 1,473 Income tax (44) — (344) (388) Amounts reclassified from accumulated other comprehensive loss, net of tax 170 — 915 1,085 Other comprehensive income (loss) 170 (28,178) (11,397) (39,405) Accumulated other comprehensive loss, March 31, 2020 $ (14,521) $ (53,479) $ (24,112) $ (92,112)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Financial information by segment	The following tables present financial information by segment: Three Months Ended 2021 2020 Net revenue: Global Solutions $ 1,849,509 $ 1,847,593 Global Products 658,750 391,192 Total segment net revenue 2,508,259 2,238,785 Inter-segment revenue Global Products (181,725) (116,092) Total inter-segment revenue (181,725) (116,092) Consolidated net revenue $ 2,326,534 $ 2,122,693 Operating income: Global Solutions $ 8,892 $ 7,691 Global Products 163,587 18,571 Inter-segment eliminations (9,798) 1,169 Intangible amortization (10,026) (10,611) Acquisition-related and exit and realignment charges (5,963) (6,064) Consolidated operating income $ 146,692 $ 10,756 Depreciation and amortization: Global Solutions $ 9,839 $ 10,636 Global Products 13,061 13,277 Consolidated depreciation and amortization $ 22,900 $ 23,913 Capital expenditures: Global Solutions $ 3,000 $ 1,032 Global Products 3,623 3,017 Discontinued operations — 1,664 Consolidated capital expenditures $ 6,623 $ 5,713
Consolidated total assets	March 31, 2021 December 31, 2020 Total assets: Global Solutions $ 2,072,642 $ 2,117,372 Global Products 1,263,724 1,135,209 Segment assets 3,336,366 3,252,581 Cash and cash equivalents 54,455 83,058 Consolidated total assets $ 3,390,821 $ 3,335,639
Schedule of revenue from external customers and long-lived assets, by geographical	The following table presents net revenue by geographic area, which were attributed based on the location from which we ship products or provide services. Three Months Ended March 31, 2021 2020 Net revenue: United States $ 2,182,755 $ 2,033,454 International 143,779 89,239 Consolidated net revenue $ 2,326,534 $ 2,122,693

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 54,455	$ 83,058
Restricted cash included in Other current assets	0	35,126
Restricted cash included in Other assets, net	16,322	16,322
Total cash, cash equivalents, and restricted cash	$ 70,777	$ 134,506	$ 140,993	$ 84,687

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Movianto - Discontinued Operations, Held-for-sale - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Jun. 18, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration			$ 133,000
Total assets of discontinued operations	$ 0	$ 0
Total liabilities of discontinued operations	$ 0	$ 0

Discontinued Operations - Summa

Discontinued Operations - Summary of Financial Results of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of tax	$ 0	$ (2,415)
Movianto | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue		122,342
Cost of goods sold		32,106
Gross margin		90,236
Distribution, selling, and administrative expenses		80,953
Impairment charges		9,080
Acquisition-related and exit and realignment charges		271
Other operating income, net		(461)
Operating income		393
Interest expense, net		1,720
Loss from discontinued operations before income taxes		(1,327)
Income tax provision from discontinued operations		1,088
Loss from discontinued operations, net of tax		$ (2,415)

Discontinued Operations - Sched

Discontinued Operations - Schedule of Cash Flow Information for Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities:
Impairment charges	$ 0	$ 9,080
Investing Activities:
Capital expenditures	$ 0	1,664
Movianto | Discontinued Operations, Held-for-sale
Operating Activities:
Depreciation and amortization		0
Impairment charges		9,080
Investing Activities:
Capital expenditures		$ 1,664

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Carrying amount of goodwill, December 31, 2020	$ 394,086
Currency translation adjustments	(2,737)
Carrying amount of goodwill, March 31, 2021	391,349
Global Solutions
Goodwill [Roll Forward]
Carrying amount of goodwill, December 31, 2020	283,905
Currency translation adjustments	0
Carrying amount of goodwill, March 31, 2021	283,905
Global Products
Goodwill [Roll Forward]
Carrying amount of goodwill, December 31, 2020	110,181
Currency translation adjustments	(2,737)
Carrying amount of goodwill, March 31, 2021	$ 107,444

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 232,009	$ 243,351
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	268,688	270,505
Accumulated amortization	(127,344)	(121,209)
Net intangible assets	$ 141,344	$ 149,296
Weighted average useful life (in years)	10 years	10 years
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 90,000	$ 90,000
Accumulated amortization	(26,972)	(24,881)
Net intangible assets	$ 63,028	$ 65,119
Weighted average useful life (in years)	11 years	11 years
Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 43,238	$ 43,245
Accumulated amortization	(15,601)	(14,309)
Net intangible assets	$ 27,637	$ 28,936
Weighted average useful life (in years)	8 years	8 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 232,009		$ 243,351
Amortization expense for intangible assets	10,000	$ 10,600
Estimated amortization expense for the remainder of 2021	29,900
Estimated amortization expense for 2022	38,900
Estimated amortization expense for 2023	38,700
Estimated amortization expense for 2024	33,900
Estimated amortization expense for 2025	28,200
Estimated amortization expense for 2026	26,800
Global Solutions
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	59,100
Global Products
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net	$ 173,000

Exit and Realignment Costs - Ex

Exit and Realignment Costs - Exit and realignment charges by segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Exit and realignment charges	$ 5,963	$ 1,829
Global Solutions
Restructuring Cost and Reserve [Line Items]
Exit and realignment charges	4,663	1,829
Global Products
Restructuring Cost and Reserve [Line Items]
Exit and realignment charges	$ 1,300	$ 0

Exit and Realignment Costs - Ac

Exit and Realignment Costs - Accrual for Exit and Realignment Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Reserve [Roll Forward]
Accrued exit and realignment costs, beginning of period	$ 3,146	$ 8,162
Cash payments	(2,915)	(5,799)
Accrued exit and realignment costs, end of period	2,388	4,192
Severance
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:		1,391
Information system restructuring costs
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:	1,029	183
Lease obligations
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:	347	202
Other
Restructuring Reserve [Roll Forward]
Provision for exit and realignment activities:	$ 781	$ 53

Exit and Realignment Costs - Na

Exit and Realignment Costs - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Incurred cost	$ 3,800
Reserves associated with certain retained assets	8,462	$ 5,213
Other asset charges	100
Acquisition-related and exit and realignment charges	5,963	6,064
Exit and Realignment Charges
Restructuring Cost and Reserve [Line Items]
Acquisition-related and exit and realignment charges	0	$ 4,200
Fusion5
Restructuring Cost and Reserve [Line Items]
Reserves associated with certain retained assets	3,200
Disposal group, not discontinued operation, loss (gain) on write-down	$ 500

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Senior Notes | 4.375% Senior Notes, due December 2024
Debt Instrument [Line Items]
Interest rate of debt	4.375%
Senior Notes | 4.500% Senior Notes, due March 2029
Debt Instrument [Line Items]
Interest rate of debt	4.50%
Carrying Amount
Debt Instrument [Line Items]
Total debt	$ 982,408	$ 1,025,967
Less current maturities	(1,066)	(39,949)
Long-term debt	981,342	986,018
Carrying Amount | Finance leases and other
Debt Instrument [Line Items]
Total debt	13,543	13,668
Carrying Amount | Senior Notes | 4.375% Senior Notes, due December 2024
Debt Instrument [Line Items]
Total debt	244,862	244,780
Carrying Amount | Senior Notes | 4.500% Senior Notes, due March 2029
Debt Instrument [Line Items]
Total debt	491,299	0
Carrying Amount | Term Loan | Term Loan A-2
Debt Instrument [Line Items]
Total debt	0	33,865
Carrying Amount | Term Loan | Term Loan B
Debt Instrument [Line Items]
Total debt	0	477,525
Carrying Amount | Revolver | Revolver
Debt Instrument [Line Items]
Total debt	6,700	103,200
Carrying Amount | Secured Debt | Receivables Securitization Program
Debt Instrument [Line Items]
Total debt	226,004	152,929
Estimated Fair Value
Debt Instrument [Line Items]
Total debt	1,007,901	1,046,213
Less current maturities	(1,066)	(40,453)
Long-term debt	1,006,835	1,005,760
Estimated Fair Value | Finance leases and other
Debt Instrument [Line Items]
Total debt	13,543	13,668
Estimated Fair Value | Senior Notes | 4.375% Senior Notes, due December 2024
Debt Instrument [Line Items]
Total debt	254,183	253,241
Estimated Fair Value | Senior Notes | 4.500% Senior Notes, due March 2029
Debt Instrument [Line Items]
Total debt	503,475	0
Estimated Fair Value | Term Loan | Term Loan A-2
Debt Instrument [Line Items]
Total debt	0	34,390
Estimated Fair Value | Term Loan | Term Loan B
Debt Instrument [Line Items]
Total debt	0	486,614
Estimated Fair Value | Revolver | Revolver
Debt Instrument [Line Items]
Total debt	6,700	103,200
Estimated Fair Value | Secured Debt | Receivables Securitization Program
Debt Instrument [Line Items]
Total debt	$ 230,000	$ 155,100

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Mar. 10, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Write off of deferred debt issuance cost		$ 15,300,000
Short-term finance leases	$ 1,100,000	1,100,000
Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 300,000,000
Borrowings outstanding				$ 103,000,000
Remaining borrowing capacity	282,000,000	282,000,000		283,000,000
Replaced Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 1,900,000	$ 1,900,000
4.375% Senior Notes, due December 2024 | Senior Notes
Debt Instrument [Line Items]
Interest rate of debt	4.375%	4.375%
Debt issued, percent of par		99.60%
Effective yield percentage	4.422%	4.422%
Redemption price, percentage		100.00%
Rate of interest discounted		0.30%
4.500% Senior Notes, due March 2029 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000	$ 500,000,000
Interest rate of debt	4.50%	4.50%
Debt issued, percent of par	100.00%
Effective yield percentage	4.50%	4.50%
Redemption price, percentage		100.00%
4.500% Senior Notes, due March 2029 | Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage		104.50%
Redemption price, percentage of principal amount redeemed		40.00%
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount	$ 11,400,000	$ 11,400,000		13,900,000
European Lease Agreement | Replaced Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount				$ 1,600,000
Long-term debt, maturities, repayments of principal in 2024	476,000,000	476,000,000
Long-term debt, maturities, repayments of principal in 2026	6,700,000	6,700,000
Long-term debt, maturities, repayments of principal in 2029	500,000,000	500,000,000
2024 Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 246,000,000	$ 246,000,000
Maximum | Receivables Securitization Program
Debt Instrument [Line Items]
Debt instrument, face amount			$ 450,000,000

Retirement Plans - Components o

Retirement Plans - Components of Net Periodic Benefit Cost (Details) - United States - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 704	$ 351
Interest cost	446	494
Recognized net actuarial loss	353	214
Net periodic benefit cost	$ 1,503	$ 1,059

Derivatives - Summary of the te

Derivatives - Summary of the terms and fair value of our outstanding derivative financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Economic (non-designated) hedges | Foreign currency contracts
Derivative [Line Items]
Notional amount	$ 18,700	$ 30,300
Designated as Hedging Instrument | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Notional amount		300,000
Other current assets | Economic (non-designated) hedges | Foreign currency contracts
Derivative [Line Items]
Derivative asset, fair value	0	151
Other current liabilities | Economic (non-designated) hedges | Foreign currency contracts
Derivative [Line Items]
Derivative liabilities, fair value	$ 110	0
Other assets, net | Designated as Hedging Instrument | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Derivative asset, fair value		0
Other liabilities | Designated as Hedging Instrument | Cash flow hedging | Interest rate swaps
Derivative [Line Items]
Derivative liabilities, fair value		$ 17,872

Derivatives - Summary of the ef

Derivatives - Summary of the effect of cash flow hedge (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Loss on extinguishment of debt	$ (40,433)	$ (4,127)
Interest expense, net	(13,672)	(23,342)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in Other Comprehensive Income	2,426	(16,958)
Loss on extinguishment of debt | Interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income	$ (25,518)
Interest expense, net | Interest rate swaps | Reclassification out of Accumulated Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income		$ (1,259)

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Loss on derivative not designed as hedging instrument	$ 1	$ 2.7
Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Derivative, terminated notional value	300		$ 150
Designated as Hedging Instrument | Interest rate swaps | Loss On Extinguishment Of Debt
Derivative [Line Items]
Derivative, terminated notional value	$ 25.1

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	24.40%	48.90%
Liability for unrecognized tax benefit	$ 21		$ 20.8
Unrecognized tax benefit highly certain	$ 2.7		$ 2.7

Net Income (Loss) per Common _3

Net Income (Loss) per Common Share - Summary of Calculation of Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Weighted average number of shares outstanding, basic (in shares)	70,834	60,571
Diluted shares (in shares)	104	0
Weighted average number of shares outstanding, diluted (in shares)	70,938	60,571
Income (loss) from continuing operations	$ 69,589	$ (8,909)
Income (loss) from continuing operations per common share: basic and diluted (in usd per share)	$ 0.98	$ (0.15)
Loss from discontinued operations	$ 0	$ (2,415)
Loss from discontinued operations per common share: basic and diluted (in usd per share)	$ 0	$ (0.04)
Net income (loss)	$ 69,589	$ (11,324)
Net income (loss) per common share: basic and diluted (in usd per share)	$ 0.98	$ (0.19)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - Equity Distribution Agreement - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2020	Mar. 31, 2021
Class of Stock [Line Items]
Number of shares issued in transaction (in shares)		0
Aggregate offering price, remaining available amount		$ 50
Common Stock
Class of Stock [Line Items]
Aggregate offering price	$ 50

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Loss by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 712,054	$ 462,154
Other comprehensive loss before reclassifications	(9,836)	(45,136)
Income tax	(611)	4,646
Other comprehensive income (loss) before reclassifications, net of tax	(10,447)	(40,490)
Amounts reclassified from accumulated other comprehensive loss	25,674	1,473
Income tax	(7,324)	(388)
Amounts reclassified from accumulated other comprehensive loss, net of tax	18,350	1,085
Total other comprehensive income (loss), net of tax	7,903	(39,405)
Ending Balance	786,261	416,338
Retirement Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(18,447)	(14,691)
Other comprehensive loss before reclassifications	0	0
Income tax	0	0
Other comprehensive income (loss) before reclassifications, net of tax	0	0
Amounts reclassified from accumulated other comprehensive loss	156	214
Income tax	(35)	(44)
Amounts reclassified from accumulated other comprehensive loss, net of tax	121	170
Total other comprehensive income (loss), net of tax	121	170
Ending Balance	(18,326)	(14,521)
Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(18)	(25,301)
Other comprehensive loss before reclassifications	(12,262)	(28,178)
Income tax	0	0
Other comprehensive income (loss) before reclassifications, net of tax	(12,262)	(28,178)
Amounts reclassified from accumulated other comprehensive loss	0	0
Income tax	0	0
Amounts reclassified from accumulated other comprehensive loss, net of tax	0	0
Total other comprehensive income (loss), net of tax	(12,262)	(28,178)
Ending Balance	(12,280)	(53,479)
Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(20,044)	(12,715)
Other comprehensive loss before reclassifications	2,426	(16,958)
Income tax	(611)	4,646
Other comprehensive income (loss) before reclassifications, net of tax	1,815	(12,312)
Amounts reclassified from accumulated other comprehensive loss	25,518	1,259
Income tax	(7,289)	(344)
Amounts reclassified from accumulated other comprehensive loss, net of tax	18,229	915
Total other comprehensive income (loss), net of tax	20,044	(11,397)
Ending Balance	0	(24,112)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(38,509)	(52,707)
Ending Balance	$ (30,606)	$ (92,112)

Segment Information - Financial

Segment Information - Financial Information by Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segments | segment	2
Net revenue	$ 2,326,534	$ 2,122,693
Operating earnings (loss):	146,692	10,756
Intangible amortization	(10,000)	(10,600)
Acquisition-related and exit and realignment charges	(5,963)	(6,064)
Consolidated depreciation and amortization	22,900	23,913
Discontinued operations	0	1,664
Consolidated capital expenditures	6,623	5,713
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	2,508,259	2,238,785
Operating Segments | Global Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	1,849,509	1,847,593
Operating earnings (loss):	8,892	7,691
Depreciation and amortization	9,839	10,636
Capital expenditures	3,000	1,032
Operating Segments | Global Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	658,750	391,192
Operating earnings (loss):	163,587	18,571
Depreciation and amortization	13,061	13,277
Capital expenditures	3,623	3,017
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	(181,725)	(116,092)
Operating earnings (loss):	(9,798)	1,169
Intersegment Eliminations | Global Products
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenue	(181,725)	(116,092)
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Intangible amortization	(10,026)	(10,611)
Acquisition-related and exit and realignment charges	$ (5,963)	$ (6,064)

Segment Information - Consolida

Segment Information - Consolidated Total Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 3,390,821	$ 3,335,639
Cash and cash equivalents	54,455	83,058
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,336,366	3,252,581
Operating Segments | Global Solutions
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,072,642	2,117,372
Operating Segments | Global Products
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,263,724	$ 1,135,209

Segment Information - Net reven

Segment Information - Net revenue by geographic area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 2,326,534	$ 2,122,693
United States
Segment Reporting Information [Line Items]
Net revenue	2,182,755	2,033,454
International
Segment Reporting Information [Line Items]
Net revenue	$ 143,779	$ 89,239