Pitney Bowes (PBI) 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. 25, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	PITNEY BOWES INC /DE/
Entity Central Index Key	78,814
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		188,021,682

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss)
Total revenue	$ 861,436	$ 730,413	$ 1,742,384	$ 1,473,593
Costs and expenses:
Financing interest expense	12,346	12,843	24,571	25,817
Selling, general and administrative	282,456	283,073	577,894	573,645
Research and development	31,073	30,328	61,395	59,282
Restructuring charges and asset impairments, net	11,503	25,990	12,407	27,639
Other components of net pension and postretirement cost	(2,499)	1,267	(4,218)	2,723
Interest expense, net	29,623	27,600	60,476	53,276
Total costs and expenses	807,972	688,162	1,627,631	1,346,836
Income from continuing operations before taxes	53,464	42,251	114,753	126,757
Provision for income taxes	6,458	790	22,721	27,872
Income from continuing operations	47,006	41,461	92,032	98,885
Income from discontinued operations, net of tax	1,208	7,440	9,695	15,149
Net income	$ 48,214	$ 48,901	$ 101,727	$ 114,034
Basic earnings per share:
Continuing operations (in dollars per share)	$ 0.25	$ 0.22	$ 0.49	$ 0.53
Discontinued operations (in dollars per share)	0.01	0.04	0.05	0.08
Net Income (in dollars per share)	0.26	0.26	0.54	0.61
Diluted earnings per share:
Continuing operations (in dollars per share)	0.25	0.22	0.49	0.53
Discontinued operations (in dollars per share)	0.01	0.04	0.05	0.08
Net Income (in dollars per share)	0.26	0.26	0.54	0.61
Dividends declared per share of common stock (in dollars per share)	$ 0.1875	$ 0.1875	$ 0.3750	$ 0.375
Equipment sales
Net income (loss)
Total revenue	$ 105,750	$ 121,384	$ 216,121	$ 245,887
Costs and expenses:
Cost of products and sales	47,106	51,506	93,160	96,122
Supplies
Net income (loss)
Total revenue	55,457	58,639	115,450	119,694
Costs and expenses:
Cost of products and sales	15,738	16,216	32,685	33,068
Software
Net income (loss)
Total revenue	91,702	81,319	167,996	154,165
Costs and expenses:
Cost of products and sales	26,459	23,361	50,514	46,515
Rentals
Net income (loss)
Total revenue	91,809	95,447	186,435	194,754
Costs and expenses:
Cost of products and sales	21,078	21,143	45,132	41,422
Financing
Net income (loss)
Total revenue	76,671	83,653	156,774	169,398
Support services
Net income (loss)
Total revenue	72,171	72,068	145,194	147,273
Costs and expenses:
Cost of products and sales	39,609	41,772	82,736	83,421
Business services
Net income (loss)
Total revenue	367,876	217,903	754,414	442,422
Costs and expenses:
Cost of products and sales	$ 293,480	$ 153,063	$ 590,879	$ 303,906

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 48,214	$ 48,901	$ 101,727	$ 114,034
Other comprehensive income, net of tax:
Foreign currency translation	(44,584)	46,791	(29,073)	66,706
Net unrealized (loss) gain on cash flow hedges, net of tax of $(78), $(120), $154 and $235, respectively	(235)	(196)	251	383
Net unrealized (loss) gain on investment securities, net of tax of $(447), $758, $(1,813) and $1,102, respectively	(1,305)	1,291	(5,296)	1,876
Adjustments to pension and postretirement plans, net of tax of $(304)	0	0	0	(1,482)
Amortization of pension and postretirement costs, net of tax benefits of $2,564, $3,442, $5,368 and $6,956, respectively	7,868	6,624	16,040	13,335
Other comprehensive (loss) income, net of tax	(38,256)	54,510	(18,078)	80,818
Comprehensive income	$ 9,958	$ 103,411	$ 83,649	$ 194,852

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net unrealized gain (loss) on cash flow hedges, tax	$ (78)	$ (120)	$ 154	$ 235
Net unrealized gain on investment securities, tax	(447)	758	(1,813)	1,102
Adjustments to pension and postretirement plans, tax				(304)
Amortization of pension and postretirement costs, tax	$ 2,564	$ 3,442	$ 5,368	$ 6,956

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 689,870	$ 1,009,021
Short-term investments	55,699	48,988
Accounts receivable (net of allowance of $13,515 and $14,786, respectively)	408,703	427,022
Short-term finance receivables (net of allowance of $14,924 and $12,187, respectively)	812,055	828,003
Inventories	49,051	40,769
Current income taxes	39,100	58,439
Other current assets and prepayments	102,104	74,589
Assets of discontinued operations	313,356	334,848
Total current assets	2,469,938	2,821,679
Property, plant and equipment, net	398,909	373,503
Rental property and equipment, net	180,585	183,956
Long-term finance receivables (net of allowance of $6,420 and $6,446 respectively)	597,302	652,087
Goodwill	1,767,848	1,774,645
Intangible assets, net	249,125	272,186
Noncurrent income taxes	54,099	59,909
Other assets	528,945	540,750
Total assets	6,246,751	6,678,715
Current liabilities:
Accounts payable and accrued liabilities	1,349,344	1,450,149
Current income taxes	5,686	8,823
Current portion of long-term debt	334,999	271,057
Advance billings	237,709	257,766
Liabilities of discontinued operations	84,219	72,808
Total current liabilities	2,011,957	2,060,603
Deferred taxes on income	234,190	234,643
Tax uncertainties and other income tax liabilities	105,803	116,551
Long-term debt	3,237,810	3,559,278
Other noncurrent liabilities	461,074	519,079
Total liabilities	6,050,834	6,490,154
Commitments and contingencies (See Note 14)
Stockholders’ equity:
Cumulative preferred stock, $50 par value, 4% convertible	1	1
Cumulative preference stock, no par value, $2.12 convertible	415	441
Common stock, $1 par value (480,000,000 shares authorized; 323,337,912 shares issued)	323,338	323,338
Additional paid-in capital	122,732	138,367
Retained earnings	5,248,991	5,229,584
Accumulated other comprehensive loss	(810,251)	(792,173)
Treasury stock, at cost (136,104,630 and 136,734,174 shares, respectively)	(4,689,309)	(4,710,997)
Total stockholders’ equity	195,917	188,561
Total liabilities and stockholders’ equity	$ 6,246,751	$ 6,678,715

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 13,515	$ 14,786
Short-term finance receivables allowance	14,924	12,187
Long-term finance receivables allowance	$ 6,420	$ 6,446
Preferred stock par value (in dollars per share)	$ 50	$ 50
Preferred stock dividend rate	4.00%	4.00%
Preference stock, par value (in dollars per share)	$ 0	$ 0
Preference stock dividend rate (in dollars per share)	2.12	2.12
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	480,000,000	480,000,000
Common stock, shares issued (in shares)	323,337,912	323,337,912
Treasury stock (in shares)	136,104,630	136,734,174

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income	$ 101,727	$ 114,034
Income from discontinued operations	(9,695)	(15,149)
Restructuring payments	(27,528)	(17,651)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	101,862	86,710
Stock-based compensation	9,153	12,531
Restructuring charges and asset impairments, net	12,407	27,639
Gain on sale of technology	0	(6,085)
Changes in operating assets and liabilities, net of acquisitions/divestitures:
Decrease in accounts receivable	14,323	58,263
Decrease in finance receivables	60,563	76,915
Increase in inventories	(6,706)	(3,762)
Increase in other current assets and prepayments	(33,041)	(18,728)
Decrease in accounts payable and accrued liabilities	(47,118)	(69,146)
Increase (decrease) in current and non-current income taxes	4,570	(40,856)
Decrease in advance billings	(22,643)	(22,972)
Other, net	(24,612)	(11,192)
Net cash provided by operating activities - continuing operations	133,262	170,551
Net cash provided by operating activities - discontinued operations	41,772	14,096
Net cash provided by operating activities	175,034	184,647
Cash flows from investing activities:
Purchases of available-for-sale securities	(48,303)	(70,405)
Proceeds from sales/maturities of available-for-sale securities	36,157	61,913
Net activity from short-term and other investments	10,959	(131,303)
Capital expenditures	(100,022)	(75,844)
Acquisition of businesses, net of cash acquired	(2,407)	(7,889)
Change in reserve account deposits	5,959	2,514
Other investing activities	(2,500)	(3,000)
Net cash used in investing activities - continuing operations	(100,157)	(224,014)
Net cash used in investing activities - discontinued operations	(1,169)	(777)
Net cash used in investing activities - continuing operations	(101,326)	(224,791)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	0	395,772
Principal payments of long-term debt	(260,099)	(229,323)
Dividends paid to stockholders	(70,113)	(69,527)
Other financing activities	(49,606)	(5,551)
Net cash (used in) provided by financing activities	(379,818)	91,371
Effect of exchange rate changes on cash and cash equivalents	(13,041)	24,815
(Decrease) increase in cash and cash equivalents	(319,151)	76,042
Cash and cash equivalents at beginning of period	1,009,021	764,522
Cash and cash equivalents at end of period	689,870	840,564
Cash interest paid	89,339	82,405
Cash income tax payments, net of refunds	$ 19,244	$ 78,649

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Pitney Bowes Inc. (we, us, our, or the company), was incorporated in the state of Delaware in 1920. We are a global technology company offering innovative products and solutions that help our clients navigate the complex world of commerce. We provide innovative products and solutions for mailing, shipping and cross border ecommerce that enable the sending of packages globally and products and solutions for customer information management, location intelligence and customer engagement to help our clients market to their customers. Clients around the world rely on our products, solutions and services. For more information about us, our products, services and solutions, visit www.pb.com . The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In addition, the December 31, 2017 Condensed Consolidated Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. In management's opinion, all adjustments, consisting only of normal recurring adjustments, considered necessary to fairly state our financial position, results of operations and cash flows for the periods presented have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2018 . These statements should be read in conjunction with the financial statements and notes thereto included in our Annual Report to Stockholders on Form 10-K for the year ended December 31, 2017 (2017 Annual Report). During the quarter, we entered into an agreement to sell our Document Messaging Technologies production mail business and supporting software (collectively, the Production Mail Business). Accordingly, the Production Mail Business is now reported as a discontinued operation in our condensed consolidated financial statements. Prior periods have been recast to conform to the current period presentation. See Note 4 for further details. Accounting Pronouncements Adopted on January 1, 2018 We adopted Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (ASC 606), which requires companies to recognize revenue when or as control of a promised good or service is transferred to a client in amounts that reflect consideration the company expects to receive in exchange for those goods and services. See Note 2 for more information on the adoption of ASC 606. We adopted ASU No. 2016-16, Income Taxes: Intra-entity Transfers of Assets other than Inventory, which requires tax expense to be recognized from the sale of intra-entity assets, other than inventory, when the transfer occurs, even though the effects of the transaction are eliminated in consolidation. Under prior guidance, the tax effects of transfers were deferred until the transferred asset was sold or otherwise recovered through use. We recognized the cumulative effect of initially applying this standard as a net reduction of $3 million to opening retained earnings. We adopted ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Benefit Cost. The ASU requires only the service cost component of net periodic benefit cost be presented in the same income statement line item as other employee compensation costs. Other components of the net periodic benefit cost are now presented separately in other components of net pension and postretirement costs in the Consolidated Statements of Income. Prior period information has been recast to conform to the current period presentation. We adopted ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . This standard primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. There was no impact on our consolidated financial statements. We early adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The ASU changes the recognition and presentation requirements as well as the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing and hedge documentation. There was no impact on our consolidated financial statements. We adopted ASU 2017-09, Scope of Modification Accounting . The ASU provides guidance about which changes to terms and conditions of a share-based payment award require an entity to apply modification accounting. There was no impact on our consolidated financial statements. We adopted ASU 2017-01, Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities in evaluating whether transactions should be accounted for as an acquisition or disposal of assets or a business. There was no impact on our consolidated financial statements. New Accounting Pronouncements - Not Yet Adopted In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI) . The ASU permits a reclassification of the disproportionate income tax effects of the 2017 Tax Cuts and Jobs Act (the Act) on items within AOCI to retained earnings. The ASU also requires certain new disclosures, some of which are applicable for all companies. The standard is effective beginning January 1, 2019; however, early adoption is permitted. We are currently assessing the impact this standard will have on our consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . The ASU shortens the amortization period for certain callable debt securities held at a premium, requiring the premium to be amortized to the earliest call date. The standard will be applied on a modified retrospective basis through a cumulative effect adjustment as of the beginning of the period of adoption. The standard is effective beginning January 1, 2019; however, early adoption is permitted. We are currently assessing the impact this standard will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960); Defined Contribution Pension Plans (Topic 962); Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting . The ASU requires separate disclosure in the statement of net assets available for benefits and the statement of changes in net assets available for benefits of changes in any interests held in a Master Trust and other enhanced disclosures. The standard is effective beginning January 1, 2019. We are currently evaluating the impact this standard will have on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses . The ASU sets forth a “current expected credit loss” (CECL) model, which requires companies to measure expected credit losses for all financial instruments held at the reporting date based on historical experience, current conditions and reasonably supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This standard is effective beginning January 1, 2020. We are currently assessing the impact this standard will have on our consolidated financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases. This standard, among other things, requires lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability and provide enhanced disclosures. The standard is effective beginning January 1, 2019. We are currently assessing the impact this standard will have on our consolidated financial statements and disclosures.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Adoption of ASC 606 We adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) using the modified retrospective approach. Prior period information was not restated and continues to be reported under the accounting standards in effect for those periods. We recognized a cumulative effect adjustment from the adoption of this standard that reduced opening retained earnings by $9 million . Significant components of the cumulative effect adjustment include: • The write-off of previously capitalized deferred marketing costs that did not meet the criteria for capitalization under ASC 606. • The capitalization of certain costs to obtain a contract, primarily sales commissions, that are permitted to be capitalized under ASC 606. • The establishment of deferred revenue related to the early renewal of software and data license contracts with terms beginning in 2018, as ASC 606 requires revenue recognition at the commencement of the license term. • The write-off of deferred revenues and related costs for certain software licenses bundled with a lease that are recognized at time of delivery under ASC 606. • The write-off of advance billings related to certain software data products that are recognized upon delivery under ASC 606. The impact on our consolidated financial statements as if they were presented under the prior guidance is as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 As reported Prior guidance Total increase (decrease) As reported Prior guidance Total increase (decrease) Income Statement Total revenue $ 861,436 $ 852,781 $ 8,655 $ 1,742,384 $ 1,724,060 $ 18,324 Equipment sales $ 105,750 $ 106,301 $ (551 ) $ 216,121 $ 217,533 $ (1,412 ) Software $ 91,702 $ 82,054 $ 9,648 $ 167,996 $ 147,329 $ 20,667 Business services $ 367,876 $ 368,318 $ (442 ) $ 754,414 $ 755,345 $ (931 ) Total costs and expenses $ 807,972 $ 810,342 $ (2,370 ) $ 1,627,631 $ 1,629,841 $ (2,210 ) Cost of equipment sales $ 47,106 $ 47,035 $ 71 $ 93,160 $ 93,219 $ (59 ) Cost of software $ 26,459 $ 25,769 $ 690 $ 50,514 $ 48,542 $ 1,972 Selling, general and administrative $ 282,456 $ 285,587 $ (3,131 ) $ 577,894 $ 582,017 $ (4,123 ) Income from continuing operations before taxes $ 53,464 $ 42,439 $ 11,025 $ 114,753 $ 94,221 $ 20,532 Provision for income taxes $ 6,458 $ 3,640 $ 2,818 $ 22,721 $ 17,434 $ 5,287 Net income from continuing operations $ 47,006 $ 38,799 $ 8,207 $ 92,032 $ 76,787 $ 15,245 Basic earnings per share attributable to common stockholders - continuing operations $ 0.25 $ 0.21 $ 0.04 $ 0.49 $ 0.41 $ 0.08 Diluted earnings per share attributable to common stockholders - continuing operations $ 0.25 $ 0.22 $ 0.03 $ 0.49 $ 0.41 $ 0.08 The most significant change to the Consolidated Statements of Income for the three and six months ended June 30, 2018, was due to higher software revenue of $10 million and $21 million , respectively, under ASC 606 primarily as a result of the change in timing of revenue recognition related to certain software licenses and data subscriptions. These higher software revenues also resulted in higher income from continuing operations before taxes of $9 million and $19 million for the three and six months ended June 30, 2018, respectively. June 30, 2018 As reported Prior guidance Total increase (decrease) Balance Sheet Total Assets $ 6,246,751 $ 6,250,943 $ (4,192 ) Accounts receivable $ 408,703 $ 407,204 $ 1,499 Current income taxes $ 39,100 $ 39,298 $ (198 ) Other current assets and prepayments $ 102,104 $ 102,760 $ (656 ) Assets of discontinued operations $ 313,356 $ 312,922 $ 434 Noncurrent income taxes $ 54,099 $ 54,429 $ (330 ) Other assets $ 528,945 $ 533,886 $ (4,941 ) Total Liabilities $ 6,050,834 $ 6,062,221 $ (11,387 ) Accounts payable and accrued liabilities $ 1,349,344 $ 1,347,837 $ 1,507 Current income taxes $ 5,686 $ 43 $ 5,643 Advance billings $ 237,709 $ 250,948 $ (13,239 ) Liabilities of discontinued operations $ 84,219 $ 84,132 $ 87 Deferred taxes on income $ 234,190 $ 238,539 $ (4,349 ) Other noncurrent liabilities $ 461,074 $ 462,110 $ (1,036 ) Total Stockholders' equity $ 195,917 $ 188,722 $ 7,195 Retained earnings $ 5,248,991 $ 5,241,824 $ 7,167 Accumulated other comprehensive loss $ (810,251 ) $ (810,279 ) $ 28 The most significant changes to the Consolidated Balance Sheet at June 30, 2018 were: • Higher accounts receivable, net and accounts payable and accrued liabilities due to reserves for refunds to customers that were recorded in accounts receivable, net under previous guidance. • Lower other assets primarily due to the write-off of deferred marketing costs at January 1, 2018, offset by the capitalization of certain costs to obtain a contract, including sales commissions and other contract costs. • Lower advance billings and other noncurrent liabilities due to the write-off of deferred revenue from software licenses bundled with leases and data products, which are now recognized at time of delivery rather than ratably under previous guidance. Cash Flow Statement The adoption of ASC 606 had no impact on our Consolidated Statements of Cash Flows. Significant Accounting Policies The most significant impact of ASC 606 on our consolidated financial statements will be in the timing of recognizing certain revenues and costs to obtain a contract related to software and software related products. We will continue to recognize revenue from equipment sales under sales-type leases and related financing income and rental of postage meters and mailing equipment in accordance with ASC 840, Leases. We applied the following practical expedients and policy elections when adopting ASC 606: • Costs incurred to obtain a contract with a customer are expensed if the amortization period is one year or less. • With the exception of certain services contracts, all taxes assessed by government authorities, such as sales and use taxes, value added taxes and excise taxes, are excluded from the transaction price. • The transaction price is not adjusted for a significant financing component when a performance obligation is satisfied within one year. • Revenue is recognized based on the amount billable to the customer when that amount corresponds to the value transferred to the customer. • Shipping and handling activities are accounted for as a fulfillment activity rather than a separate performance obligation. • We reflected the aggregate effect of all modifications when identifying performance obligations and allocating transaction price. Significant changes to accounting policies disclosed in our 2017 Annual Report due to the adoption of ASC 606 are discussed below. Software Sales and Integration Services Our software products include software and data licenses that are either “right to use” or “right to access”. A majority of our software and data license products are considered right to use and are generally distinct from other promised goods and services within a contract. Revenue for right to use software and data licenses is recognized at a point in time when control has transferred to the customer, which is generally upon delivery or acceptance for those licenses requiring significant integration or customization. Revenue from renewals are recognized at the beginning of the license term. Right to access licenses generally bundle certain software licenses, data licenses and data updates that are highly interdependent and the updates are critical to the continued use of the license by the customer. Revenue for these arrangements are deferred and recognized ratably over the license term. We generally invoice customers upon delivery of our software and data licenses. Data contracts that include both data and data updates are invoiced in one or more equal installments. A contract asset is recognized on data licenses for which consideration will be received in future periods. We allocate the transaction price based on relative standalone selling prices, which are generally based on observable selling prices in standalone transactions for our data products, maintenance and professional services. We estimate the standalone selling prices for our software licenses using the residual approach, as the selling prices are highly variable and when observable standalone selling prices exist for the other goods and services in the contract. We often bundle software licenses with lease contracts. Revenue is recognized upon delivery of those software licenses considered distinct and functional in nature. Costs to Obtain a Contract and Marketing Costs Certain incremental costs to obtain a contract are capitalized if we expect the benefit of those costs to be realized over a period greater than one year. These costs primarily relate to sales commission on multi-year equipment and software support service contracts. These costs are amortized in a manner consistent with the timing of the related revenue over the contract performance period or longer, if renewals are expected and the renewal commission is not commensurate with the initial commission. Amortization expense for the three and six months ended June 30, 2018 was $3 million and $ 7 million , respectively, and is included in selling, general and administrative expenses. Unamortized contract costs at June 30, 2018 were $ 26 million and are included in other assets. Certain marketing costs associated with the acquisition of new customers are expensed as incurred since these costs do not meet the criteria of a cost to obtain a contract. Revenue from Contracts with Customers The following tables disaggregate our revenue by major source: Three months ended June 30, 2018 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue from sales and services (ASC 606) Revenue from leasing transactions and financing Total Consolidated Revenue Equipment sales $ — $ — $ 15,303 $ 11,654 $ — $ 26,957 $ 78,793 $ 105,750 Supplies — — 36,271 19,186 — 55,457 — 55,457 Software — — — — 91,702 91,702 — 91,702 Rentals — — 5,121 2,139 — 7,260 84,549 91,809 Financing — — 15,714 2,866 — 18,580 58,091 76,671 Support services — — 50,902 21,269 — 72,171 72,171 Business services 239,100 122,730 4,453 1,593 — 367,876 — 367,876 $ 239,100 $ 122,730 $ 127,764 $ 58,707 $ 91,702 $ 640,003 $ 221,433 $ 861,436 Revenue from sales and services (ASC 606) $ 239,100 $ 122,730 $ 127,764 $ 58,707 $ 91,702 $ 640,003 $ — $ 640,003 Revenue from leasing transactions and financing — — 186,782 34,651 — — 221,433 221,433 Total revenue $ 239,100 $ 122,730 $ 314,546 $ 93,358 $ 91,702 $ 640,003 $ 221,433 $ 861,436 Timing of revenue recognition (ASC 606) Products/services transferred at a point in time $ — $ — $ 51,574 $ 30,840 $ 38,963 $ 121,377 Products/services transferred over time 239,100 122,730 76,190 27,867 52,739 518,626 Total revenue $ 239,100 $ 122,730 $ 127,764 $ 58,707 $ 91,702 $ 640,003 Six months ended June 30, 2018 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue from sales and services (ASC 606) Revenue from leasing transactions and financing Total Consolidated Revenue Equipment sales $ — $ — $ 32,449 $ 25,018 $ — $ 57,467 $ 158,654 $ 216,121 Supplies — — 75,223 40,227 — 115,450 — 115,450 Software — — — — 167,996 167,996 — 167,996 Rentals — — 10,832 4,305 — 15,137 171,298 186,435 Financing — — 32,290 5,842 — 38,132 118,642 156,774 Support services — — 101,647 43,547 — 145,194 — 145,194 Business services 485,690 257,188 8,255 3,281 — 754,414 — 754,414 $ 485,690 $ 257,188 $ 260,696 $ 122,220 $ 167,996 $ 1,293,790 $ 448,594 $ 1,742,384 Revenue from sales and services (ASC 606) $ 485,690 $ 257,188 $ 260,696 $ 122,220 $ 167,996 $ 1,293,790 $ — $ 1,293,790 Revenue from leasing transactions and financing — — 379,419 69,175 — — 448,594 448,594 Total revenue $ 485,690 $ 257,188 $ 640,115 $ 191,395 $ 167,996 $ 1,293,790 $ 448,594 $ 1,742,384 Timing of revenue recognition (ASC 606) Products/services transferred at a point in time $ — $ — $ 107,672 $ 65,245 $ 65,020 $ 237,937 Products/services transferred over time 485,690 257,188 153,024 56,975 102,976 1,055,853 Total revenue $ 485,690 $ 257,188 $ 260,696 $ 122,220 $ 167,996 $ 1,293,790 Our performance obligations are as follows: Equipment sales and supplies: Our performance obligations generally include the sale of mailing equipment, excluding sales-type leases, and supplies. We recognize revenue upon delivery for self-install equipment and supplies and upon acceptance or installation for other equipment. We provide a warranty that our equipment is free of defects and meets stated specifications. The warranty is not considered a separate performance obligation. Software: Our performance obligations include the sale of software licenses, maintenance, data products and professional services. Revenue for licenses is generally recognized upon delivery or over time for those licenses that require critical updates over the term of the contract. Rentals: Our performance obligations include the fees associated with postage refills for meters. Financing: Our performance obligations for financing revenue include services under our equipment replacement program. The fees received for this program are recognized ratably over the contract term . Support services: Our performance obligations include providing maintenance and professional services for our equipment. Maintenance contract revenue is recognized ratably over the contract period and revenue for professional services is recognized when services are complete. Business services: Our performance obligations include mail processing services and ecommerce solutions. Revenue is recognized as the services are provided as these services represent a series of distinct services that are similar and the revenue is recognized as the services are provided. Revenue from leasing transactions and financing include revenue from sales-type leases, finance income and late fees that are not accounted for under ASC 606. Contract Assets and Advance Billings from Contracts with Customers June 30, 2018 January 1, 2018 (1) Total increase (decrease) Contracts assets, current $ 8,213 $ 5,075 $ 3,138 Contracts assets, noncurrent $ 4,006 $ 648 $ 3,358 Advance billings, current $ 186,778 $ 209,098 $ (22,320 ) Advance billings, noncurrent $ 14,658 $ 17,765 $ (3,107 ) (1) Balances adjusted for the cumulative effect of accounting change Contract assets are recorded in other current assets and prepayments and other assets, respectively. Advance billings are recorded in advance billings and other noncurrent liabilities. Contract Assets We record contract assets when performance obligations are satisfied in advance of invoicing the customer when the right to consideration is conditional on the satisfaction of another performance obligation within a contract. The net increase is driven by revenue recognized on data contracts during the second quarter, for which consideration will be invoices in future periods. Advance Billings from Contracts with Customers Advance billings are recorded when cash payments are due in advance of our performance. Items in advance billings primarily relate to support services on equipment and software licenses, subscription services and certain software data products. Revenue is recognized ratably over the contract term. The net decrease in advance billings at June 30, 2018 is primarily driven by revenues recognized during the period, which includes $128 million of advance billings at the beginning of the period, partially offset by advance billings in the quarter. Future Performance Obligations The transaction prices allocated to future performance obligations will be recognized as follows: Total Remainder of 2018 2019 2020-2025 North America Mailing (1) $ 233,955 $ 57,793 $ 89,529 $ 86,633 International Mailing (1) 117,562 29,432 36,415 51,715 Software Solutions (2) 102,383 41,674 36,120 24,589 Total $ 453,900 $ 128,899 $ 162,064 $ 162,937 (1) Revenue streams bundled with our leasing contracts, primarily maintenance and other services (2) Multiple-year software maintenance contracts, certain software and data licenses and data updates The table above does not include revenue related to performance obligations for contracts with terms less than 12 months and expected consideration for those performance obligations where revenue is recognized based on the amount billable to the customer.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information In January 2018, we revised our business reporting groups to reflect how we manage these groups and clients served in each market. The Commerce Services group was formed and includes our Global Ecommerce and Presort Services segments. We have classified the operating results of the Production Mail Business as discontinued operations and as such, segment operating results for prior years have been recast to conform to this presentation. The principal products and services of each of our reportable segments are as follows: Commerce Services: Global Ecommerce: Includes the worldwide revenue and related expenses from cross-border ecommerce transactions and domestic retail and ecommerce shipping solutions, including fulfillment and returns. Presort Services : Includes revenue and related expenses from sortation services which allow clients to qualify large mail volumes for postal worksharing discounts. Small & Medium Business Solutions: North America Mailing : Includes the revenue and related expenses from mailing and office solutions, financing services and supplies for small and medium businesses to efficiently create physical and digital mail, evidence postage and help simplify and save on the sending, tracking and receiving of letters, parcels and flats in the U.S. and Canada. International Mailing : Includes the revenue and related expenses from mailing and office solutions, financing services and supplies for small and medium businesses to efficiently create physical and digital mail, evidence postage and help simplify and save on the sending, tracking and receiving of letters, parcels and flats in areas outside the U.S. and Canada. Software Solutions: Includes the worldwide revenue and related expenses from the licensing of customer engagement, customer information, and location intelligence software and data solutions and related support services. We determine segment earnings before interest and taxes (EBIT) by deducting from segment revenue the related costs and expenses attributable to the segment. Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges and other items, which are not allocated to a particular business segment. Management uses segment EBIT to measure profitability and performance at the segment level and believes that it provides a useful measure of operating performance and underlying trends of the businesses. Segment EBIT may not be indicative of our overall consolidated performance and therefore, should be read in conjunction with our consolidated results of operations. The following tables provide information about our reportable segments. Revenue and EBIT by business segment is presented below: Revenue Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Global Ecommerce $ 239,100 $ 94,506 $ 485,690 $ 182,658 Presort Services 122,730 118,452 257,188 251,129 Commerce Services 361,830 212,958 742,878 433,787 North America Mailing 314,546 340,949 640,115 696,902 International Mailing 93,358 95,425 191,395 188,624 Small & Medium Business Solutions 407,904 436,374 831,510 885,526 Software Solutions 91,702 81,081 167,996 154,280 Total revenue $ 861,436 $ 730,413 $ 1,742,384 $ 1,473,593 EBIT Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Global Ecommerce $ (5,993 ) $ (4,030 ) $ (13,704 ) $ (8,300 ) Presort Services 12,565 19,270 39,591 49,987 Commerce Services 6,572 15,240 25,887 41,687 North America Mailing 115,193 120,797 234,763 262,041 International Mailing 13,215 14,020 29,246 27,430 Small & Medium Business Solutions 128,408 134,817 264,009 289,471 Software Solutions 18,433 5,091 20,925 6,397 Total segment EBIT 153,413 155,148 310,821 337,555 Reconciling items: Unallocated corporate expenses (46,477 ) (52,549 ) (97,561 ) (110,151 ) Interest, net (41,969 ) (40,443 ) (85,047 ) (79,093 ) Restructuring charges and asset impairments, net (11,503 ) (25,990 ) (12,407 ) (27,639 ) Gain from the sale of technology — 6,085 — 6,085 Transaction costs — — (1,053 ) — Income from continuing operations before income taxes 53,464 42,251 114,753 126,757 Provision for income taxes 6,458 790 22,721 27,872 Income from discontinued operations, net of tax 1,208 7,440 9,695 15,149 Net income $ 48,214 $ 48,901 $ 101,727 $ 114,034

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On July 2, 2018, we completed the sale of the Production Mail Business, other than in certain non-U.S. jurisdictions, to an affiliate of Platinum Equity, LLC, a leading global private equity firm. Cash proceeds received at the closing were $316 million . We expect to close the other non-U.S. jurisdiction sales in the third and fourth quarters, subject to local regulatory requirements. On August 1, 2018, following the completion of certain local requirements in a non-U.S. jurisdiction, we received an additional $24 million . Net proceeds from the sale after the payment of closing costs, transaction fees and taxes are estimated to be approximately $270 million . In connection with the sale of the Production Mail Business, we entered into Transition Services Agreements (TSAs) with the purchaser whereby we will perform certain support functions for periods of a year or less. None of these TSAs will have a material effect on our financial performance. Selected financial information of the Production Mail Business included in discontinued operations is as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Revenue $ 89,201 $ 90,958 $ 191,435 $ 184,418 Earnings from discontinued operations $ 8,278 $ 11,602 $ 21,620 $ 23,645 Transaction costs (7,238 ) — (8,777 ) — Income from discontinued operations before taxes 1,040 11,602 12,843 23,645 Tax (benefit) provision (168 ) 4,162 3,148 8,496 Income from discontinued operations, net of tax $ 1,208 $ 7,440 $ 9,695 $ 15,149 The assets and liabilities of the Production Mail Business have been classified as assets of discontinued operations and liabilities of discontinued operations on the Condensed Consolidated Balance Sheets. The major categories of assets and liabilities of the Production Mail Business included in assets of discontinued operations and liabilities of discontinued operations are as follows: June 30, 2018 December 31, 2017 Accounts receivable, net $ 69,924 $ 97,402 Inventories 54,808 48,910 Other current assets and prepayments 6,653 3,365 Property, plant and equipment, net 3,185 5,541 Rental property and equipment, net 1,041 1,786 Goodwill 176,501 177,799 Other assets 1,244 45 Total assets of discontinued operations $ 313,356 $ 334,848 Accounts payable and accrued liabilities $ 34,244 $ 36,592 Advance billings 44,694 30,607 Other noncurrent liabilities 5,281 5,609 Total liabilities of discontinued operations $ 84,219 $ 72,808

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Numerator: Net income from continuing operations $ 47,006 $ 41,461 $ 92,032 $ 98,885 Income from discontinued operations, net of tax 1,208 7,440 9,695 15,149 Net income (numerator for diluted EPS) 48,214 48,901 101,727 114,034 Less: Preference stock dividend 8 10 16 19 Income attributable to common stockholders (numerator for basic EPS) $ 48,206 $ 48,891 $ 101,711 $ 114,015 Denominator: Weighted-average shares used in basic EPS 187,180 186,333 187,004 186,136 Effect of dilutive shares 934 1,044 1,053 809 Weighted-average shares used in diluted EPS 188,114 187,377 188,057 186,945 Basic earnings per share: Continuing operations $ 0.25 $ 0.22 $ 0.49 $ 0.53 Discontinued operations 0.01 0.04 0.05 0.08 Net Income $ 0.26 $ 0.26 $ 0.54 $ 0.61 Diluted earnings per share: Continuing operations $ 0.25 $ 0.22 $ 0.49 $ 0.53 Discontinued operations 0.01 0.04 0.05 0.08 Net Income $ 0.26 $ 0.26 $ 0.54 $ 0.61 Anti-dilutive shares not used in calculating diluted weighted-average shares 12,453 9,916 11,959 11,379

Inventories

Inventories	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on the last-in, first-out (LIFO) basis for most U.S. inventories and the first-in, first-out (FIFO) basis for most non-U.S. inventories. Inventories at June 30, 2018 and December 31, 2017 consisted of the following: June 30, December 31, Raw materials $ 13,502 $ 11,767 Supplies and service parts 21,822 21,475 Finished products 19,461 13,261 Inventory at FIFO cost 54,785 46,503 Excess of FIFO cost over LIFO cost (5,734 ) (5,734 ) Total inventory, net $ 49,051 $ 40,769

Finance Assets

Finance Assets	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Finance Assets	Finance Assets Finance Receivables Finance receivables are comprised of sales-type lease receivables and unsecured revolving loan receivables. Sales-type lease receivables are generally due in monthly, quarterly or semi-annual installments over periods ranging from three to five years. Loan receivables arise primarily from financing services offered to our clients for postage and supplies. Loan receivables are generally due each month; however, clients may rollover outstanding balances. Interest is recognized on loan receivables using the effective interest method and related annual fees are initially deferred and recognized ratably over the annual period covered. Client acquisition costs are expensed as incurred. Finance receivables at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 December 31, 2017 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 1,004,241 $ 273,118 $ 1,277,359 $ 1,023,549 $ 292,059 $ 1,315,608 Unguaranteed residual values 62,358 13,391 75,749 74,093 14,202 88,295 Unearned income (209,870 ) (58,527 ) (268,397 ) (216,720 ) (62,325 ) (279,045 ) Allowance for credit losses (11,129 ) (2,406 ) (13,535 ) (7,721 ) (2,794 ) (10,515 ) Net investment in sales-type lease receivables 845,600 225,576 1,071,176 873,201 241,142 1,114,343 Loan receivables Loan receivables 313,049 32,941 345,990 339,373 34,492 373,865 Allowance for credit losses (6,869 ) (940 ) (7,809 ) (7,098 ) (1,020 ) (8,118 ) Net investment in loan receivables 306,180 32,001 338,181 332,275 33,472 365,747 Net investment in finance receivables $ 1,151,780 $ 257,577 $ 1,409,357 $ 1,205,476 $ 274,614 $ 1,480,090 Allowance for Credit Losses We provide an allowance for probable credit losses based on historical loss experience, the nature and volume of our portfolios, adverse situations that may affect a client's ability to pay, prevailing economic conditions and our ability to manage the collateral. We continually evaluate the adequacy of the allowance for credit losses and make adjustments as necessary. The assumptions used in determining an estimate of credit losses are inherently subjective and actual results may differ significantly from estimated reserves. We establish credit approval limits based on the credit quality of the client and the type of equipment financed. Our policy is to discontinue revenue recognition for lease receivables that are more than 120 days past due and for loan receivables that are more than 90 days past due. We resume revenue recognition when the client's payments reduce the account aging to less than 60 days past due. Finance receivables deemed uncollectible are written off against the allowance after all collection efforts have been exhausted and management deems the account to be uncollectible. We believe that our finance receivable credit risk is low because of the geographic and industry diversification of our clients and small account balances for most of our clients. Activity in the allowance for credit losses for the six months ended June 30, 2018 and 2017 was as follows: Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2018 $ 7,721 $ 2,794 $ 7,098 $ 1,020 $ 18,633 Amounts charged to expense 5,946 545 7,008 250 13,749 Write-offs and other (2,538 ) (933 ) (7,237 ) (330 ) (11,038 ) Balance at June 30, 2018 $ 11,129 $ 2,406 $ 6,869 $ 940 $ 21,344 Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2017 $ 8,247 $ 2,647 $ 8,517 $ 1,089 $ 20,500 Amounts charged to expense 5,182 466 2,891 450 8,989 Write-offs and other (4,973 ) (617 ) (3,905 ) (382 ) (9,877 ) Balance at June 30, 2017 $ 8,456 $ 2,496 $ 7,503 $ 1,157 $ 19,612 Aging of Receivables The aging of gross finance receivables at June 30, 2018 and December 31, 2017 was as follows: June 30, 2018 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 961,356 $ 266,146 $ 305,116 $ 32,706 $ 1,565,324 > 90 days 42,885 6,972 7,933 235 58,025 Total $ 1,004,241 $ 273,118 $ 313,049 $ 32,941 $ 1,623,349 Past due amounts > 90 days Still accruing interest $ 6,297 $ 1,672 $ — $ — $ 7,969 Not accruing interest 36,588 5,300 7,933 235 50,056 Total $ 42,885 $ 6,972 $ 7,933 $ 235 $ 58,025 December 31, 2017 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 971,002 $ 286,170 $ 330,503 $ 34,239 $ 1,621,914 > 90 days 52,547 5,889 8,870 253 67,559 Total $ 1,023,549 $ 292,059 $ 339,373 $ 34,492 $ 1,689,473 Past due amounts > 90 days Still accruing interest $ 10,807 $ 1,738 $ — $ — $ 12,545 Not accruing interest 41,740 4,151 8,870 253 55,014 Total $ 52,547 $ 5,889 $ 8,870 $ 253 $ 67,559 Credit Quality The extension of credit and management of credit lines to new and existing clients uses a combination of an automated credit score, where available, and a detailed manual review of the client's financial condition and, when applicable, payment history. Once credit is granted, the payment performance of the client is managed through automated collections processes and is supplemented with direct follow up should an account become delinquent. We have robust automated collections and extensive portfolio management processes. The portfolio management processes ensure that our global strategy is executed, collection resources are allocated appropriately and enhanced tools and processes are implemented as needed. We use a third party to score the majority of the North America portfolio on a quarterly basis using a commercial credit score. We do not use a third party to score our International portfolio because the cost to do so is prohibitive, given that it is a localized process and there is no single credit score model that covers all countries. The table below shows the North America portfolio at June 30, 2018 and December 31, 2017 by relative risk class based on the relative scores of the accounts within each class. The relative scores are determined based on a number of factors, including the company type, ownership structure, payment history and financial information. A fourth class is shown for accounts that are not scored. Absence of a score is not indicative of the credit quality of the account. The degree of risk (low, medium, high), as defined by the third party, refers to the relative risk that an account may become delinquent in the next 12 months. • Low risk accounts are companies with very good credit scores and are considered to approximate the top 30% of all commercial borrowers. • Medium risk accounts are companies with average to good credit scores and are considered to approximate the middle 40% of all commercial borrowers. • High risk accounts are companies with poor credit scores, are delinquent or are at risk of becoming delinquent and are considered to approximate the bottom 30% of all commercial borrowers. June 30, December 31, Sales-type lease receivables Low $ 817,554 $ 819,776 Medium 130,175 148,000 High 20,663 21,728 Not Scored 35,849 34,045 Total $ 1,004,241 $ 1,023,549 Loan receivables Low $ 244,570 $ 262,646 Medium 50,711 56,744 High 5,593 6,791 Not Scored 12,175 13,192 Total $ 313,049 $ 339,373

Acquisitions, Intangible Assets

Acquisitions, Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Intangible Assets and Goodwill	Acquisitions, Intangible Assets and Goodwill Acquisitions In October 2017, we acquired Newgistics for $471 million , net of cash acquired. The results of Newgistics are included in our consolidated operating results from the date of acquisition. Our consolidated revenue for the three and six months ended June 30, 2018 includes $127 million and $257 million , respectively, from Newgistics. On a supplemental pro forma basis, had we acquired Newgistics on January 1, 2017, our revenues would have been $115 million and $234 million higher for the three and six months ended June 30, 2017, respectively. The impact on our earnings would not have been material. Intangible Assets Intangible assets at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 482,092 $ (265,904 ) $ 216,188 $ 504,716 $ (271,066 ) $ 233,650 Software & technology 166,100 (141,338 ) 24,762 167,122 (138,724 ) 28,398 Trademarks & other 40,403 (32,228 ) 8,175 40,649 (30,511 ) 10,138 Total intangible assets $ 688,595 $ (439,470 ) $ 249,125 $ 712,487 $ (440,301 ) $ 272,186 Amortization expense was $11 million and $8 million for the three months ended June 30, 2018 and 2017 , respectively and $22 million and $17 million for the six months ended June 30, 2018 and 2017, respectively. Future amortization expense as of June 30, 2018 was as follows: Remaining for year ending December 31, 2018 $ 25,997 Year ending December 31, 2019 38,023 Year ending December 31, 2020 33,722 Year ending December 31, 2021 30,001 Year ending December 31, 2022 29,012 Thereafter 92,370 Total $ 249,125 Actual amortization expense may differ from the amounts above due to, among other things, fluctuations in foreign currency exchange rates, impairments, acquisitions and accelerated amortization. Goodwill Changes in the carrying value of goodwill, by reporting segment, for the six months ended June 30, 2018 are shown in the table below. December 31, 2017 Acquisitions Other (1) June 30, Global Ecommerce $ 602,461 $ — $ (653 ) $ 601,808 Presort Services 204,781 2,684 — 207,465 Commerce Services 807,242 2,684 (653 ) 809,273 North America Mailing 368,905 — (354 ) 368,551 International Mailing 158,203 — (5,784 ) 152,419 Small & Medium Business Solutions 527,108 — (6,138 ) 520,970 Software Solutions 440,295 — (2,690 ) 437,605 Total goodwill $ 1,774,645 $ 2,684 $ (9,481 ) $ 1,767,848 (1) Primarily represents foreign currency translation adjustments.

Fair Value Measurements and Der

Fair Value Measurements and Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements and Derivative Instruments	Fair Value Measurements and Derivative Instruments We measure certain financial assets and liabilities at fair value on a recurring basis. Fair value is a market-based measure considered from the perspective of a market participant rather than an entity-specific measure. An entity is required to classify certain assets and liabilities measured at fair value based on the following fair value hierarchy that prioritizes the inputs used to measure fair value: Level 1 – Unadjusted quoted prices in active markets for identical assets and liabilities. Level 2 – Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity, may be derived from internally developed methodologies based on management’s best estimate of fair value and that are significant to the fair value of the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect its placement within the fair value hierarchy. The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at June 30, 2018 and December 31, 2017 . June 30, 2018 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 114,665 $ 328,296 $ — $ 442,961 Equity securities — 24,637 — 24,637 Commingled fixed income securities 1,549 20,795 — 22,344 Government and related securities 123,239 16,429 — 139,668 Corporate debt securities — 71,078 — 71,078 Mortgage-backed / asset-backed securities — 165,835 — 165,835 Derivatives Interest rate swap — 824 — 824 Foreign exchange contracts — 2,673 — 2,673 Total assets $ 239,453 $ 630,567 $ — $ 870,020 Liabilities: Derivatives Foreign exchange contracts $ — $ (178 ) $ — $ (178 ) Total liabilities $ — $ (178 ) $ — $ (178 ) December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 143,349 $ 542,568 $ — $ 685,917 Equity securities — 40,717 — 40,717 Commingled fixed income securities 1,569 4,516 — 6,085 Government and related securities 116,041 18,587 — 134,628 Corporate debt securities — 75,109 — 75,109 Mortgage-backed / asset-backed securities — 158,202 — 158,202 Derivatives Interest rate swap — 1,776 — 1,776 Foreign exchange contracts — 122 — 122 Total assets $ 260,959 $ 841,597 $ — $ 1,102,556 Liabilities: Derivatives Foreign exchange contracts $ — $ (335 ) $ — $ (335 ) Total liabilities $ — $ (335 ) $ — $ (335 ) Investment Securities The valuation of investment securities is based on the market approach using inputs that are observable, or can be corroborated by observable data, in an active marketplace. The following information relates to our classification into the fair value hierarchy: • Money Market Funds / Commercial Paper: Money market funds typically invest in government securities, certificates of deposit, commercial paper and other highly liquid, low risk securities. Money market funds are principally used for overnight deposits and are classified as Level 1 when unadjusted quoted prices in active markets are available and as Level 2 when they are not actively traded on an exchange. Direct investments in commercial paper are not listed on an exchange in an active market and are classified as Level 2. • Equity Securities: Comprised of mutual funds investing in U.S. and foreign stocks. These mutual funds are classified as Level 2. • Commingled Fixed Income Securities: Comprised of mutual funds that invest in a variety of fixed income securities including securities of the U.S. government and its agencies, corporate debt, mortgage-backed securities and asset-backed securities. Fair value is based on the value of the underlying investments owned by each fund, minus its liabilities, divided by the number of shares outstanding, as reported by the fund manager. These mutual funds are classified as Level 2. • Government and Related Securities: Debt securities are classified as Level 1 where active, high volume trades for identical securities exist. Valuation adjustments are not applied to these securities. Debt securities are classified as Level 2 where fair value is determined using quoted market prices for similar securities or benchmarking model derived prices to quoted market prices and trade data for identical or comparable securities. • Corporate Debt Securities: Corporate debt securities are valued using recently executed comparable transactions, market price quotations or bond spreads for the same maturity as the security. These securities are classified as Level 2. • Mortgage-Backed Securities / Asset-Backed Securities: These securities are valued based on external pricing indices or external price/spread data. These securities are classified as Level 2. Available-For-Sale Securities Certain investment securities are classified as available-for-sale and recorded at fair value. Unrealized holding gains and losses, net of tax are recorded in AOCI. Available-for-sale investment securities are predominantly held at the Pitney Bowes Bank, whose primary business is to provide financing solutions to clients that rent postage meters and purchase supplies. Available-for-sale securities at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 140,583 $ 1,247 $ (2,162 ) $ 139,668 Corporate debt securities 72,428 268 (1,618 ) 71,078 Commingled fixed income securities 1,619 — (70 ) 1,549 Mortgage-backed / asset-backed securities 168,585 730 (3,480 ) 165,835 Total $ 383,215 $ 2,245 $ (7,330 ) $ 378,130 December 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 131,872 $ 1,984 $ (1,090 ) $ 132,766 Corporate debt securities 73,612 1,724 (227 ) 75,109 Commingled fixed income securities 1,796 — (40 ) 1,756 Mortgage-backed / asset-backed securities 158,496 1,348 (1,642 ) 158,202 Total $ 365,776 $ 5,056 $ (2,999 ) $ 367,833 At June 30, 2018 , investment securities in a loss position for 12 or more continuous months had aggregate unrealized holding losses of $6 million and an estimated fair value of $228 million , and investment securities in a loss position for less than 12 continuous months had aggregate unrealized holding losses of $1 million and an estimated fair value of $90 million . At December 31, 2017 , investment securities in a loss position for 12 or more continuous months had aggregate unrealized holding losses of $2 million and an estimated fair value of $116 million , and investment securities in a loss position for less than 12 continuous months had aggregate unrealized holding losses of $1 million and an estimated fair value of $91 million . We have not recognized an other-than-temporary impairment on any of the investment securities in an unrealized loss position because we have the ability and intent to hold these securities until recovery of the unrealized losses and expect to receive the stated principal and interest at maturity. Scheduled maturities of available-for-sale securities at June 30, 2018 were as follows: Amortized cost Estimated fair value Within 1 year $ 56,012 $ 55,705 After 1 year through 5 years 114,973 113,720 After 5 years through 10 years 58,066 56,867 After 10 years 154,164 151,838 Total $ 383,215 $ 378,130 The scheduled maturities of mortgage-backed and asset-backed securities may not coincide with the actual payment as borrowers have the right to prepay obligations. We have not experienced any significant write-offs in our investment portfolio. The majority of our mortgage-backed securities are either guaranteed or supported by the U.S. Government. We have no investments in inactive markets that would warrant a possible change in our pricing methods or classification within the fair value hierarchy. Derivative Instruments In the normal course of business, we are exposed to the impact of changes in foreign currency exchange rates and interest rates. We mitigate these exposures by following established risk management policies and procedures, including the use of derivatives. We use derivative instruments to limit the effects of exchange rate fluctuations on financial results and manage the cost of debt. We do not use derivatives for trading or speculative purposes. We record derivative instruments at fair value and the accounting for changes in the fair value depends on the intended use of the derivative, the resulting designation and the effectiveness of the instrument in offsetting the risk exposure it is designed to hedge. Foreign Exchange Contracts We enter into foreign exchange contracts to mitigate the currency risk associated with the anticipated purchase of inventory between affiliates and from third parties. These contracts are designated as cash flow hedges. The effective portion of the gain or loss on cash flow hedges is included in AOCI in the period that the change in fair value occurs and is reclassified to earnings in the period that the hedged item is recorded in earnings. At June 30, 2018 and December 31, 2017 , we had outstanding contracts associated with these anticipated transactions with notional amounts of $11 million and $ 10 million , respectively. The valuation of foreign exchange derivatives is based on the market approach using observable market inputs, such as foreign currency spot and forward rates and yield curves. We have not seen a material change in the creditworthiness of those banks acting as derivative counterparties. Interest Rate Swap We have an interest rate swap with a notional amount of $300 million to mitigate the interest rate risk associated with $300 million of variable-rate term loans. The swap is designated as a cash flow hedge. The effective portion of the gain or loss on the cash flow hedge is included in AOCI in the period that the change in fair value occurs and is reclassified to earnings in the period that the hedged item is recorded in earnings. Under the terms of the swap agreement, we pay fixed-rate interest of 0.8826% and receive variable-rate interest based on 1-month LIBOR. The variable interest rate resets monthly. The valuation of our interest rate swap is based on the income approach using a model with inputs that are observable or that can be derived from or corroborated by observable market data. The fair value of derivative instruments at June 30, 2018 and December 31, 2017 was as follows: Designation of Derivatives Balance Sheet Location June 30, December 31, Derivatives designated as hedging instruments Foreign exchange contracts Other current assets and prepayments $ 114 $ 57 Accounts payable and accrued liabilities (39 ) (144 ) Interest rate swap Other assets 824 1,776 Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets and prepayments 2,559 65 Accounts payable and accrued liabilities (139 ) (191 ) Total derivative assets $ 3,497 $ 1,898 Total derivative liabilities (178 ) (335 ) Total net derivative asset $ 3,319 $ 1,563 The majority of the amounts included in AOCI at June 30, 2018 will be recognized in earnings within the next 12 months. No amount of ineffectiveness was recorded in earnings for these designated cash flow hedges. The following represents the results of cash flow hedging relationships for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, Derivative Gain (Loss) Recognized in AOCI (Effective Portion) Location of Gain (Loss) (Effective Portion) Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion) Derivative Instrument 2018 2017 2018 2017 Foreign exchange contracts $ 119 $ (599 ) Revenue $ 79 $ 34 Cost of sales (1 ) 36 Interest rate swap (771 ) (147 ) Interest Expense — — $ (652 ) $ (746 ) $ 78 $ 70 Six Months Ended June 30, Derivative Gain (Loss) Recognized in AOCL (Effective Portion) Location of Gain (Loss) (Effective Portion) Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion) Derivative Instrument 2018 2017 2018 2017 Foreign exchange contracts $ 154 $ (549 ) Revenue $ 76 $ 6 Cost of sales (85 ) 148 Interest rate swap (952 ) 321 Interest Expense — — $ (798 ) $ (228 ) $ (9 ) $ 154 We enter into foreign exchange contracts to minimize the impact of exchange rate fluctuations on short-term intercompany loans and related interest that are denominated in a foreign currency. The revaluation of intercompany loans and interest and the corresponding mark-to-market adjustment on derivatives are recorded in earnings. The table below represents the mark-to-market adjustments of non-designated derivative instruments for the three and six months ended June 30, 2018 and 2017 . All outstanding contracts at June 30, 2018 mature within 12 months. Three Months Ended June 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2018 2017 Foreign exchange contracts Selling, general and administrative expense $ (14,828 ) $ 789 Six Months Ended June 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2018 2017 Foreign exchange contracts Selling, general and administrative expense $ (18,396 ) $ (1,061 ) Credit-Risk-Related Contingent Features Certain derivative instruments contain credit-risk-related contingent features that require us to post collateral based on a combination of our long-term senior unsecured debt ratings and the net fair value of our derivatives. At June 30, 2018 , we had $4 million of cash collateral posted with certain counterparties. Due to the change in net fair value of our derivatives, the amount was returned in full on July 2, 2018. Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, investment securities, accounts receivable, loan receivables, derivative instruments, accounts payable and debt. The carrying value for cash and cash equivalents, accounts receivable, loans receivable, and accounts payable approximate fair value because of the short maturity of these instruments. The carrying value and estimated fair value of our debt at June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 December 31, 2017 Carrying value $ 3,572,809 $ 3,830,335 Fair value $ 3,381,964 $ 3,718,986

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges Activity in our restructuring reserves for the six months ended June 30, 2018 and 2017 was as follows: Severance and benefits costs Other exit costs Total Balance at January 1, 2018 $ 42,151 $ 1,569 $ 43,720 Expenses, net 7,990 4,417 12,407 Cash payments (26,942 ) (586 ) (27,528 ) Balance at June 30, 2018 $ 23,199 $ 5,400 $ 28,599 Balance at January 1, 2017 $ 28,234 $ 281 $ 28,515 Expenses, net 22,489 1,560 24,049 Cash payments (17,154 ) (497 ) (17,651 ) Balance at June 30, 2017 $ 33,569 $ 1,344 $ 34,913 The majority of the remaining restructuring reserves are expected to be paid over the next 12 to 24 months; however, due to certain international labor laws and long-term lease agreements, some payments will extend beyond 24 months. We expect to fund these payments from cash flows from operations. Asset Impairment In 2017, we recorded asset impairment charges of $4 million .

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt Total debt at June 30, 2018 and December 31, 2017 consisted of the following: Interest rate June 30, 2018 December 31, 2017 Notes due March 2018 5.60% $ — $ 250,000 Notes due March 2019 6.25% 300,000 300,000 Notes due September 2020 3.625% 300,000 300,000 Notes due October 2021 3.625% 600,000 600,000 Notes due May 2022 4.375% 400,000 400,000 Notes due April 2023 4.7% 400,000 400,000 Notes due March 2024 4.625% 500,000 500,000 Notes due January 2037 5.25% 35,841 35,841 Notes due March 2043 6.7% 425,000 425,000 Term loans Variable 640,000 650,000 Other debt 5,378 5,476 Principal amount 3,606,219 3,866,317 Less: unamortized costs, net 33,410 35,982 Total debt 3,572,809 3,830,335 Less: current portion long-term debt 334,999 271,057 Long-term debt $ 3,237,810 $ 3,559,278 The interest rate on certain notes and term loans are subject to adjustment based on changes in our credit ratings. During the quarter, Standard & Poor's lowered our corporate credit rating from BBB- to BB+. As a result, the interest rate on the May 2022 Notes and term loans increased 0.25% and the interest rate on the September 2020 notes, the October 2021 notes, and the April 2023 notes will increase 0.25% effective after the next interest payment date. During the year, we repaid the $250 million of 5.6% Notes that matured in March 2018 and $10 million of principal on our term loans. On August 2, 2018, we redeemed the $300 million 6.25% Notes due March 2019.

Pensions and Other Benefit Prog

Pensions and Other Benefit Programs	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pensions and Other Benefit Programs	Pensions and Other Benefit Programs The components of net periodic benefit cost (income) were as follows: Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Three Months Ended Three Months Ended Three Months Ended June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Service cost $ 9 $ 34 $ 575 $ 559 $ 405 $ 434 Interest cost 15,108 17,121 4,591 4,640 1,607 1,770 Expected return on plan assets (25,119 ) (24,369 ) (9,118 ) (7,961 ) — — Amortization of transition credit — — (2 ) (2 ) — — Amortization of prior service (credit) cost (15 ) (15 ) (18 ) (17 ) 88 74 Amortization of net actuarial loss 7,628 7,229 1,870 1,892 881 905 Net periodic benefit (income) cost $ (2,389 ) $ — $ (2,102 ) $ (889 ) $ 2,981 $ 3,183 Contributions to benefit plans $ 1,906 $ 1,046 $ 769 $ 1,319 $ 4,316 $ 4,426 Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Six Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Service cost $ 46 $ 64 $ 1,164 $ 1,101 $ 811 $ 853 Interest cost 30,724 34,366 9,287 9,184 3,210 3,541 Expected return on plan assets (50,543 ) (48,917 ) (18,304 ) (15,742 ) — — Amortization of transition credit — — (3 ) (4 ) — — Amortization of prior service (credit) cost (30 ) (30 ) (37 ) (35 ) 176 148 Amortization of net actuarial loss 15,704 14,497 3,783 3,926 1,815 1,789 Net periodic benefit (income) cost $ (4,099 ) $ (20 ) $ (4,110 ) $ (1,570 ) $ 6,012 $ 6,331 Contributions to benefit plans $ 3,194 $ 2,594 $ 9,979 $ 10,391 $ 9,111 $ 9,124

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three months ended June 30, 2018 and 2017 was 12.1% and 1.9% , respectively, and the effective tax rate for the six months ended June 30, 2018 and 2017 was 19.8% and 22.0% , respectively. The effective tax rate for the six months ended June 30, 2018 and 2017 included a $2 million and $4 million charge, respectively, from the write-off of deferred tax assets associated with the expiration of out-of-the-money vested stock options and the vesting of restricted stock. The effective tax rate for the three and six months ended June 30 2018 included a $3 million and $6 million benefit, respectively, from the resolution of certain tax examinations. The effective tax rate for the three and six months ended June 30, 2017 included a $10 million and $14 million benefit, respectively, from the resolution of certain tax examinations. The provisional amounts recorded under Staff Accounting Bulletin No. 118 in 2017 have been adjusted and both the three and six month periods ended June 30, 2018 include a benefit of $9 million related to the re-measurement of deferred tax assets. The amounts recorded as of December 31, 2017 and adjusted June 30, 2018 remain provisional and further adjustments are expected to be made during the measurement period. As is the case with other large corporations, our tax returns are examined by tax authorities in the U.S. and other global taxing jurisdictions in which we have operations. As a result, it is reasonably possible that the amount of unrecognized tax benefits will decrease in the next 12 months, and this decrease could be up to 20% of our unrecognized tax benefits. The IRS examinations of our consolidated U.S. income tax returns for tax years prior to 2013 are closed to audit; however, various post-2006 U.S. state and local tax returns are still subject to examination. In Canada, the examination of our tax filings prior to 2012 are closed to audit, except for the pending application of legal principles to specific issues arising in earlier years. Other significant jurisdictions include France, which is closed to audit through the end of 2014, Germany, which is closed to audit through the end of 2012 and the UK, which, except for an item under appeal, is closed to audit through the end of 2015. We also have other less significant tax filings currently subject to examination.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of business, we are routinely defendants in, or party to a number of pending and threatened legal actions. These may involve litigation by or against us relating to, among other things, contractual rights under vendor, insurance or other contracts; intellectual property or patent rights; equipment, service, payment or other disputes with clients; or disputes with employees. Some of these actions may be brought as a purported class action on behalf of a purported class of employees, customers or others. In management's opinion, the potential liability, if any, that may result from these actions, either individually or collectively, is not reasonably expected to have a material effect on our financial position, results of operations or cash flows. However, as litigation is inherently unpredictable, there can be no assurances in this regard.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Stockholders’ Equity	Stockholders’ Equity Changes in stockholders’ equity for the six months ended June 30, 2018 and 2017 were as follows: Preferred stock Preference stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at December 31, 2017 $ 1 $ 441 $ 323,338 $ 138,367 $ 5,229,584 $ (792,173 ) $ (4,710,997 ) $ 188,561 Cumulative effect of accounting changes — — — — (12,207 ) — — (12,207 ) Net income — — — — 101,727 — — 101,727 Other comprehensive income — — — — — (18,078 ) — (18,078 ) Dividends paid — — — — (70,113 ) — — (70,113 ) Issuance of common stock — — — (24,267 ) — — 21,141 (3,126 ) Conversion to common stock — (26 ) — (521 ) — — 547 — Stock-based compensation expense — — — 9,153 — — — 9,153 Balance at June 30, 2018 $ 1 $ 415 $ 323,338 $ 122,732 $ 5,248,991 $ (810,251 ) $ (4,689,309 ) $ 195,917 Preferred stock Preference stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total (deficit) equity Balance at December 31, 2016 $ 1 $ 483 $ 323,338 $ 148,125 $ 5,107,734 $ (940,133 ) $ (4,743,208 ) $ (103,660 ) Net income — — — — 114,034 — — 114,034 Other comprehensive loss — — — — — 80,818 — 80,818 Dividends paid — — — — (69,527 ) — — (69,527 ) Issuance of common stock — — — (28,567 ) — — 23,744 (4,823 ) Conversion to common stock — (20 ) — (398 ) — — 418 — Stock-based compensation expense — — — 12,531 — — — 12,531 Balance at June 30, 2017 $ 1 $ 463 $ 323,338 $ 131,691 $ 5,152,241 $ (859,315 ) $ (4,719,046 ) $ 29,373

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Reclassifications out of AOCI for the three and six months ended June 30, 2018 and 2017 were as follows: Amount Reclassified from AOCI (a) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Gains (losses) on cash flow hedges Revenue $ 79 $ 34 $ 76 $ 6 Cost of sales (1 ) 36 (85 ) 148 Interest expense, net (507 ) (507 ) (1,014 ) (1,014 ) Total before tax (429 ) (437 ) (1,023 ) (860 ) Benefit from income taxes 110 170 261 336 Net of tax $ (319 ) $ (267 ) $ (762 ) $ (524 ) Gains (losses) on available for sale securities Interest expense, net $ 214 $ (117 ) $ 190 $ (226 ) (Provision) benefit from income taxes (54 ) 44 (48 ) 84 Net of tax $ 160 $ (73 ) $ 142 $ (142 ) Pension and Postretirement Benefit Plans (b) Transition credit $ 2 $ 2 $ 3 $ 4 Prior service costs (55 ) (42 ) (109 ) (83 ) Actuarial losses (10,379 ) (10,026 ) (21,302 ) (20,212 ) Total before tax (10,432 ) (10,066 ) (21,408 ) (20,291 ) Benefit from income taxes 2,564 3,442 5,368 6,956 Net of tax $ (7,868 ) $ (6,624 ) $ (16,040 ) $ (13,335 ) (a) Amounts in parentheses indicate reductions to income and increases to other comprehensive income (loss). (b) Reclassified from accumulated other comprehensive loss into other components of net pension and postretirement cost. These amounts are included in the computation of net periodic costs (see Note 12 for additional details). Changes in AOCI for the six months ended June 30, 2018 and 2017 were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2018 $ (406 ) $ 1,597 $ (748,800 ) $ (44,564 ) $ (792,173 ) Other comprehensive loss before reclassifications (a) (511 ) (5,154 ) — (29,073 ) (34,738 ) Reclassifications into earnings (a), (b) 762 (142 ) 16,040 — 16,660 Net other comprehensive income (loss) 251 (5,296 ) 16,040 (29,073 ) (18,078 ) Balance at June 30, 2018 $ (155 ) $ (3,699 ) $ (732,760 ) $ (73,637 ) $ (810,251 ) Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2017 $ (1,485 ) $ 120 $ (787,813 ) $ (150,955 ) $ (940,133 ) Other comprehensive (loss) income before reclassifications (a) (141 ) 1,734 (1,482 ) 66,706 66,817 Reclassifications into earnings (a), (b) 524 142 13,335 — 14,001 Net other comprehensive income 383 1,876 11,853 66,706 80,818 Balance at June 30, 2017 $ (1,102 ) $ 1,996 $ (775,960 ) $ (84,249 ) $ (859,315 ) (a) Amounts are net of tax. Amounts in parentheses indicate debits to AOCI. (b) See table above for additional details of these reclassifications.

Description of Business and B24

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	Accounting Pronouncements Adopted on January 1, 2018 We adopted Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (ASC 606), which requires companies to recognize revenue when or as control of a promised good or service is transferred to a client in amounts that reflect consideration the company expects to receive in exchange for those goods and services. See Note 2 for more information on the adoption of ASC 606. We adopted ASU No. 2016-16, Income Taxes: Intra-entity Transfers of Assets other than Inventory, which requires tax expense to be recognized from the sale of intra-entity assets, other than inventory, when the transfer occurs, even though the effects of the transaction are eliminated in consolidation. Under prior guidance, the tax effects of transfers were deferred until the transferred asset was sold or otherwise recovered through use. We recognized the cumulative effect of initially applying this standard as a net reduction of $3 million to opening retained earnings. We adopted ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Benefit Cost. The ASU requires only the service cost component of net periodic benefit cost be presented in the same income statement line item as other employee compensation costs. Other components of the net periodic benefit cost are now presented separately in other components of net pension and postretirement costs in the Consolidated Statements of Income. Prior period information has been recast to conform to the current period presentation. We adopted ASU 2016-01, Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities . This standard primarily affects the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. There was no impact on our consolidated financial statements. We early adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The ASU changes the recognition and presentation requirements as well as the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing and hedge documentation. There was no impact on our consolidated financial statements. We adopted ASU 2017-09, Scope of Modification Accounting . The ASU provides guidance about which changes to terms and conditions of a share-based payment award require an entity to apply modification accounting. There was no impact on our consolidated financial statements. We adopted ASU 2017-01, Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities in evaluating whether transactions should be accounted for as an acquisition or disposal of assets or a business. There was no impact on our consolidated financial statements. New Accounting Pronouncements - Not Yet Adopted In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI) . The ASU permits a reclassification of the disproportionate income tax effects of the 2017 Tax Cuts and Jobs Act (the Act) on items within AOCI to retained earnings. The ASU also requires certain new disclosures, some of which are applicable for all companies. The standard is effective beginning January 1, 2019; however, early adoption is permitted. We are currently assessing the impact this standard will have on our consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities . The ASU shortens the amortization period for certain callable debt securities held at a premium, requiring the premium to be amortized to the earliest call date. The standard will be applied on a modified retrospective basis through a cumulative effect adjustment as of the beginning of the period of adoption. The standard is effective beginning January 1, 2019; however, early adoption is permitted. We are currently assessing the impact this standard will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960); Defined Contribution Pension Plans (Topic 962); Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting . The ASU requires separate disclosure in the statement of net assets available for benefits and the statement of changes in net assets available for benefits of changes in any interests held in a Master Trust and other enhanced disclosures. The standard is effective beginning January 1, 2019. We are currently evaluating the impact this standard will have on our consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses . The ASU sets forth a “current expected credit loss” (CECL) model, which requires companies to measure expected credit losses for all financial instruments held at the reporting date based on historical experience, current conditions and reasonably supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This standard is effective beginning January 1, 2020. We are currently assessing the impact this standard will have on our consolidated financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases. This standard, among other things, requires lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability and provide enhanced disclosures. The standard is effective beginning January 1, 2019. We are currently assessing the impact this standard will have on our consolidated financial statements and disclosures.

Revenue from Contracts with C25

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Pro Forma Impact on Financial Statements	June 30, 2018 As reported Prior guidance Total increase (decrease) Balance Sheet Total Assets $ 6,246,751 $ 6,250,943 $ (4,192 ) Accounts receivable $ 408,703 $ 407,204 $ 1,499 Current income taxes $ 39,100 $ 39,298 $ (198 ) Other current assets and prepayments $ 102,104 $ 102,760 $ (656 ) Assets of discontinued operations $ 313,356 $ 312,922 $ 434 Noncurrent income taxes $ 54,099 $ 54,429 $ (330 ) Other assets $ 528,945 $ 533,886 $ (4,941 ) Total Liabilities $ 6,050,834 $ 6,062,221 $ (11,387 ) Accounts payable and accrued liabilities $ 1,349,344 $ 1,347,837 $ 1,507 Current income taxes $ 5,686 $ 43 $ 5,643 Advance billings $ 237,709 $ 250,948 $ (13,239 ) Liabilities of discontinued operations $ 84,219 $ 84,132 $ 87 Deferred taxes on income $ 234,190 $ 238,539 $ (4,349 ) Other noncurrent liabilities $ 461,074 $ 462,110 $ (1,036 ) Total Stockholders' equity $ 195,917 $ 188,722 $ 7,195 Retained earnings $ 5,248,991 $ 5,241,824 $ 7,167 Accumulated other comprehensive loss $ (810,251 ) $ (810,279 ) $ 28 The impact on our consolidated financial statements as if they were presented under the prior guidance is as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 As reported Prior guidance Total increase (decrease) As reported Prior guidance Total increase (decrease) Income Statement Total revenue $ 861,436 $ 852,781 $ 8,655 $ 1,742,384 $ 1,724,060 $ 18,324 Equipment sales $ 105,750 $ 106,301 $ (551 ) $ 216,121 $ 217,533 $ (1,412 ) Software $ 91,702 $ 82,054 $ 9,648 $ 167,996 $ 147,329 $ 20,667 Business services $ 367,876 $ 368,318 $ (442 ) $ 754,414 $ 755,345 $ (931 ) Total costs and expenses $ 807,972 $ 810,342 $ (2,370 ) $ 1,627,631 $ 1,629,841 $ (2,210 ) Cost of equipment sales $ 47,106 $ 47,035 $ 71 $ 93,160 $ 93,219 $ (59 ) Cost of software $ 26,459 $ 25,769 $ 690 $ 50,514 $ 48,542 $ 1,972 Selling, general and administrative $ 282,456 $ 285,587 $ (3,131 ) $ 577,894 $ 582,017 $ (4,123 ) Income from continuing operations before taxes $ 53,464 $ 42,439 $ 11,025 $ 114,753 $ 94,221 $ 20,532 Provision for income taxes $ 6,458 $ 3,640 $ 2,818 $ 22,721 $ 17,434 $ 5,287 Net income from continuing operations $ 47,006 $ 38,799 $ 8,207 $ 92,032 $ 76,787 $ 15,245 Basic earnings per share attributable to common stockholders - continuing operations $ 0.25 $ 0.21 $ 0.04 $ 0.49 $ 0.41 $ 0.08 Diluted earnings per share attributable to common stockholders - continuing operations $ 0.25 $ 0.22 $ 0.03 $ 0.49 $ 0.41 $ 0.08
Disaggregation of Revenue	The following tables disaggregate our revenue by major source: Three months ended June 30, 2018 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue from sales and services (ASC 606) Revenue from leasing transactions and financing Total Consolidated Revenue Equipment sales $ — $ — $ 15,303 $ 11,654 $ — $ 26,957 $ 78,793 $ 105,750 Supplies — — 36,271 19,186 — 55,457 — 55,457 Software — — — — 91,702 91,702 — 91,702 Rentals — — 5,121 2,139 — 7,260 84,549 91,809 Financing — — 15,714 2,866 — 18,580 58,091 76,671 Support services — — 50,902 21,269 — 72,171 72,171 Business services 239,100 122,730 4,453 1,593 — 367,876 — 367,876 $ 239,100 $ 122,730 $ 127,764 $ 58,707 $ 91,702 $ 640,003 $ 221,433 $ 861,436 Revenue from sales and services (ASC 606) $ 239,100 $ 122,730 $ 127,764 $ 58,707 $ 91,702 $ 640,003 $ — $ 640,003 Revenue from leasing transactions and financing — — 186,782 34,651 — — 221,433 221,433 Total revenue $ 239,100 $ 122,730 $ 314,546 $ 93,358 $ 91,702 $ 640,003 $ 221,433 $ 861,436 Timing of revenue recognition (ASC 606) Products/services transferred at a point in time $ — $ — $ 51,574 $ 30,840 $ 38,963 $ 121,377 Products/services transferred over time 239,100 122,730 76,190 27,867 52,739 518,626 Total revenue $ 239,100 $ 122,730 $ 127,764 $ 58,707 $ 91,702 $ 640,003 Six months ended June 30, 2018 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue from sales and services (ASC 606) Revenue from leasing transactions and financing Total Consolidated Revenue Equipment sales $ — $ — $ 32,449 $ 25,018 $ — $ 57,467 $ 158,654 $ 216,121 Supplies — — 75,223 40,227 — 115,450 — 115,450 Software — — — — 167,996 167,996 — 167,996 Rentals — — 10,832 4,305 — 15,137 171,298 186,435 Financing — — 32,290 5,842 — 38,132 118,642 156,774 Support services — — 101,647 43,547 — 145,194 — 145,194 Business services 485,690 257,188 8,255 3,281 — 754,414 — 754,414 $ 485,690 $ 257,188 $ 260,696 $ 122,220 $ 167,996 $ 1,293,790 $ 448,594 $ 1,742,384 Revenue from sales and services (ASC 606) $ 485,690 $ 257,188 $ 260,696 $ 122,220 $ 167,996 $ 1,293,790 $ — $ 1,293,790 Revenue from leasing transactions and financing — — 379,419 69,175 — — 448,594 448,594 Total revenue $ 485,690 $ 257,188 $ 640,115 $ 191,395 $ 167,996 $ 1,293,790 $ 448,594 $ 1,742,384 Timing of revenue recognition (ASC 606) Products/services transferred at a point in time $ — $ — $ 107,672 $ 65,245 $ 65,020 $ 237,937 Products/services transferred over time 485,690 257,188 153,024 56,975 102,976 1,055,853 Total revenue $ 485,690 $ 257,188 $ 260,696 $ 122,220 $ 167,996 $ 1,293,790
Contract Assets and Advance Billings	Contract Assets and Advance Billings from Contracts with Customers June 30, 2018 January 1, 2018 (1) Total increase (decrease) Contracts assets, current $ 8,213 $ 5,075 $ 3,138 Contracts assets, noncurrent $ 4,006 $ 648 $ 3,358 Advance billings, current $ 186,778 $ 209,098 $ (22,320 ) Advance billings, noncurrent $ 14,658 $ 17,765 $ (3,107 ) (1) Balances adjusted for the cumulative effect of accounting change
Future Performance Obligations	The transaction prices allocated to future performance obligations will be recognized as follows: Total Remainder of 2018 2019 2020-2025 North America Mailing (1) $ 233,955 $ 57,793 $ 89,529 $ 86,633 International Mailing (1) 117,562 29,432 36,415 51,715 Software Solutions (2) 102,383 41,674 36,120 24,589 Total $ 453,900 $ 128,899 $ 162,064 $ 162,937 (1) Revenue streams bundled with our leasing contracts, primarily maintenance and other services (2) Multiple-year software maintenance contracts, certain software and data licenses and data updates

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated Statements	Revenue and EBIT by business segment is presented below: Revenue Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Global Ecommerce $ 239,100 $ 94,506 $ 485,690 $ 182,658 Presort Services 122,730 118,452 257,188 251,129 Commerce Services 361,830 212,958 742,878 433,787 North America Mailing 314,546 340,949 640,115 696,902 International Mailing 93,358 95,425 191,395 188,624 Small & Medium Business Solutions 407,904 436,374 831,510 885,526 Software Solutions 91,702 81,081 167,996 154,280 Total revenue $ 861,436 $ 730,413 $ 1,742,384 $ 1,473,593 EBIT Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Global Ecommerce $ (5,993 ) $ (4,030 ) $ (13,704 ) $ (8,300 ) Presort Services 12,565 19,270 39,591 49,987 Commerce Services 6,572 15,240 25,887 41,687 North America Mailing 115,193 120,797 234,763 262,041 International Mailing 13,215 14,020 29,246 27,430 Small & Medium Business Solutions 128,408 134,817 264,009 289,471 Software Solutions 18,433 5,091 20,925 6,397 Total segment EBIT 153,413 155,148 310,821 337,555 Reconciling items: Unallocated corporate expenses (46,477 ) (52,549 ) (97,561 ) (110,151 ) Interest, net (41,969 ) (40,443 ) (85,047 ) (79,093 ) Restructuring charges and asset impairments, net (11,503 ) (25,990 ) (12,407 ) (27,639 ) Gain from the sale of technology — 6,085 — 6,085 Transaction costs — — (1,053 ) — Income from continuing operations before income taxes 53,464 42,251 114,753 126,757 Provision for income taxes 6,458 790 22,721 27,872 Income from discontinued operations, net of tax 1,208 7,440 9,695 15,149 Net income $ 48,214 $ 48,901 $ 101,727 $ 114,034
Reconciliation of EBIT from Segments to Consolidated	EBIT Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Global Ecommerce $ (5,993 ) $ (4,030 ) $ (13,704 ) $ (8,300 ) Presort Services 12,565 19,270 39,591 49,987 Commerce Services 6,572 15,240 25,887 41,687 North America Mailing 115,193 120,797 234,763 262,041 International Mailing 13,215 14,020 29,246 27,430 Small & Medium Business Solutions 128,408 134,817 264,009 289,471 Software Solutions 18,433 5,091 20,925 6,397 Total segment EBIT 153,413 155,148 310,821 337,555 Reconciling items: Unallocated corporate expenses (46,477 ) (52,549 ) (97,561 ) (110,151 ) Interest, net (41,969 ) (40,443 ) (85,047 ) (79,093 ) Restructuring charges and asset impairments, net (11,503 ) (25,990 ) (12,407 ) (27,639 ) Gain from the sale of technology — 6,085 — 6,085 Transaction costs — — (1,053 ) — Income from continuing operations before income taxes 53,464 42,251 114,753 126,757 Provision for income taxes 6,458 790 22,721 27,872 Income from discontinued operations, net of tax 1,208 7,440 9,695 15,149 Net income $ 48,214 $ 48,901 $ 101,727 $ 114,034

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Financial information and Assets and Liabilities	inancial information of the Production Mail Business included in discontinued operations is as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Revenue $ 89,201 $ 90,958 $ 191,435 $ 184,418 Earnings from discontinued operations $ 8,278 $ 11,602 $ 21,620 $ 23,645 Transaction costs (7,238 ) — (8,777 ) — Income from discontinued operations before taxes 1,040 11,602 12,843 23,645 Tax (benefit) provision (168 ) 4,162 3,148 8,496 Income from discontinued operations, net of tax $ 1,208 $ 7,440 $ 9,695 $ 15,149 The assets and liabilities of the Production Mail Business have been classified as assets of discontinued operations and liabilities of discontinued operations on the Condensed Consolidated Balance Sheets. The major categories of assets and liabilities of the Production Mail Business included in assets of discontinued operations and liabilities of discontinued operations are as follows: June 30, 2018 December 31, 2017 Accounts receivable, net $ 69,924 $ 97,402 Inventories 54,808 48,910 Other current assets and prepayments 6,653 3,365 Property, plant and equipment, net 3,185 5,541 Rental property and equipment, net 1,041 1,786 Goodwill 176,501 177,799 Other assets 1,244 45 Total assets of discontinued operations $ 313,356 $ 334,848 Accounts payable and accrued liabilities $ 34,244 $ 36,592 Advance billings 44,694 30,607 Other noncurrent liabilities 5,281 5,609 Total liabilities of discontinued operations $ 84,219 $ 72,808

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Numerator: Net income from continuing operations $ 47,006 $ 41,461 $ 92,032 $ 98,885 Income from discontinued operations, net of tax 1,208 7,440 9,695 15,149 Net income (numerator for diluted EPS) 48,214 48,901 101,727 114,034 Less: Preference stock dividend 8 10 16 19 Income attributable to common stockholders (numerator for basic EPS) $ 48,206 $ 48,891 $ 101,711 $ 114,015 Denominator: Weighted-average shares used in basic EPS 187,180 186,333 187,004 186,136 Effect of dilutive shares 934 1,044 1,053 809 Weighted-average shares used in diluted EPS 188,114 187,377 188,057 186,945 Basic earnings per share: Continuing operations $ 0.25 $ 0.22 $ 0.49 $ 0.53 Discontinued operations 0.01 0.04 0.05 0.08 Net Income $ 0.26 $ 0.26 $ 0.54 $ 0.61 Diluted earnings per share: Continuing operations $ 0.25 $ 0.22 $ 0.49 $ 0.53 Discontinued operations 0.01 0.04 0.05 0.08 Net Income $ 0.26 $ 0.26 $ 0.54 $ 0.61 Anti-dilutive shares not used in calculating diluted weighted-average shares 12,453 9,916 11,959 11,379

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventory Components	Inventories at June 30, 2018 and December 31, 2017 consisted of the following: June 30, December 31, Raw materials $ 13,502 $ 11,767 Supplies and service parts 21,822 21,475 Finished products 19,461 13,261 Inventory at FIFO cost 54,785 46,503 Excess of FIFO cost over LIFO cost (5,734 ) (5,734 ) Total inventory, net $ 49,051 $ 40,769

Finance Assets (Tables)

Finance Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Financing Receivables	Finance receivables at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 December 31, 2017 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 1,004,241 $ 273,118 $ 1,277,359 $ 1,023,549 $ 292,059 $ 1,315,608 Unguaranteed residual values 62,358 13,391 75,749 74,093 14,202 88,295 Unearned income (209,870 ) (58,527 ) (268,397 ) (216,720 ) (62,325 ) (279,045 ) Allowance for credit losses (11,129 ) (2,406 ) (13,535 ) (7,721 ) (2,794 ) (10,515 ) Net investment in sales-type lease receivables 845,600 225,576 1,071,176 873,201 241,142 1,114,343 Loan receivables Loan receivables 313,049 32,941 345,990 339,373 34,492 373,865 Allowance for credit losses (6,869 ) (940 ) (7,809 ) (7,098 ) (1,020 ) (8,118 ) Net investment in loan receivables 306,180 32,001 338,181 332,275 33,472 365,747 Net investment in finance receivables $ 1,151,780 $ 257,577 $ 1,409,357 $ 1,205,476 $ 274,614 $ 1,480,090
Allowance for Credit Losses on Financing Receivables	Activity in the allowance for credit losses for the six months ended June 30, 2018 and 2017 was as follows: Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2018 $ 7,721 $ 2,794 $ 7,098 $ 1,020 $ 18,633 Amounts charged to expense 5,946 545 7,008 250 13,749 Write-offs and other (2,538 ) (933 ) (7,237 ) (330 ) (11,038 ) Balance at June 30, 2018 $ 11,129 $ 2,406 $ 6,869 $ 940 $ 21,344 Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2017 $ 8,247 $ 2,647 $ 8,517 $ 1,089 $ 20,500 Amounts charged to expense 5,182 466 2,891 450 8,989 Write-offs and other (4,973 ) (617 ) (3,905 ) (382 ) (9,877 ) Balance at June 30, 2017 $ 8,456 $ 2,496 $ 7,503 $ 1,157 $ 19,612
Past Due Financing Receivables	The aging of gross finance receivables at June 30, 2018 and December 31, 2017 was as follows: June 30, 2018 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 961,356 $ 266,146 $ 305,116 $ 32,706 $ 1,565,324 > 90 days 42,885 6,972 7,933 235 58,025 Total $ 1,004,241 $ 273,118 $ 313,049 $ 32,941 $ 1,623,349 Past due amounts > 90 days Still accruing interest $ 6,297 $ 1,672 $ — $ — $ 7,969 Not accruing interest 36,588 5,300 7,933 235 50,056 Total $ 42,885 $ 6,972 $ 7,933 $ 235 $ 58,025 December 31, 2017 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 971,002 $ 286,170 $ 330,503 $ 34,239 $ 1,621,914 > 90 days 52,547 5,889 8,870 253 67,559 Total $ 1,023,549 $ 292,059 $ 339,373 $ 34,492 $ 1,689,473 Past due amounts > 90 days Still accruing interest $ 10,807 $ 1,738 $ — $ — $ 12,545 Not accruing interest 41,740 4,151 8,870 253 55,014 Total $ 52,547 $ 5,889 $ 8,870 $ 253 $ 67,559
Financing Receivable Credit Quality Indicators	June 30, December 31, Sales-type lease receivables Low $ 817,554 $ 819,776 Medium 130,175 148,000 High 20,663 21,728 Not Scored 35,849 34,045 Total $ 1,004,241 $ 1,023,549 Loan receivables Low $ 244,570 $ 262,646 Medium 50,711 56,744 High 5,593 6,791 Not Scored 12,175 13,192 Total $ 313,049 $ 339,373

Acquisitions, Intangible Asse31

Acquisitions, Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 December 31, 2017 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 482,092 $ (265,904 ) $ 216,188 $ 504,716 $ (271,066 ) $ 233,650 Software & technology 166,100 (141,338 ) 24,762 167,122 (138,724 ) 28,398 Trademarks & other 40,403 (32,228 ) 8,175 40,649 (30,511 ) 10,138 Total intangible assets $ 688,595 $ (439,470 ) $ 249,125 $ 712,487 $ (440,301 ) $ 272,186
Amortization Expense In Future Periods	Future amortization expense as of June 30, 2018 was as follows: Remaining for year ending December 31, 2018 $ 25,997 Year ending December 31, 2019 38,023 Year ending December 31, 2020 33,722 Year ending December 31, 2021 30,001 Year ending December 31, 2022 29,012 Thereafter 92,370 Total $ 249,125
Schedule of Goodwill	Changes in the carrying value of goodwill, by reporting segment, for the six months ended June 30, 2018 are shown in the table below. December 31, 2017 Acquisitions Other (1) June 30, Global Ecommerce $ 602,461 $ — $ (653 ) $ 601,808 Presort Services 204,781 2,684 — 207,465 Commerce Services 807,242 2,684 (653 ) 809,273 North America Mailing 368,905 — (354 ) 368,551 International Mailing 158,203 — (5,784 ) 152,419 Small & Medium Business Solutions 527,108 — (6,138 ) 520,970 Software Solutions 440,295 — (2,690 ) 437,605 Total goodwill $ 1,774,645 $ 2,684 $ (9,481 ) $ 1,767,848 (1) Primarily represents foreign currency translation adjustments.

Fair Value Measurements and D32

Fair Value Measurements and Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at June 30, 2018 and December 31, 2017 . June 30, 2018 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 114,665 $ 328,296 $ — $ 442,961 Equity securities — 24,637 — 24,637 Commingled fixed income securities 1,549 20,795 — 22,344 Government and related securities 123,239 16,429 — 139,668 Corporate debt securities — 71,078 — 71,078 Mortgage-backed / asset-backed securities — 165,835 — 165,835 Derivatives Interest rate swap — 824 — 824 Foreign exchange contracts — 2,673 — 2,673 Total assets $ 239,453 $ 630,567 $ — $ 870,020 Liabilities: Derivatives Foreign exchange contracts $ — $ (178 ) $ — $ (178 ) Total liabilities $ — $ (178 ) $ — $ (178 ) December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 143,349 $ 542,568 $ — $ 685,917 Equity securities — 40,717 — 40,717 Commingled fixed income securities 1,569 4,516 — 6,085 Government and related securities 116,041 18,587 — 134,628 Corporate debt securities — 75,109 — 75,109 Mortgage-backed / asset-backed securities — 158,202 — 158,202 Derivatives Interest rate swap — 1,776 — 1,776 Foreign exchange contracts — 122 — 122 Total assets $ 260,959 $ 841,597 $ — $ 1,102,556 Liabilities: Derivatives Foreign exchange contracts $ — $ (335 ) $ — $ (335 ) Total liabilities $ — $ (335 ) $ — $ (335 )
Schedule of Available-for-sale Securities Reconciliation	Available-for-sale securities at June 30, 2018 and December 31, 2017 consisted of the following: June 30, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 140,583 $ 1,247 $ (2,162 ) $ 139,668 Corporate debt securities 72,428 268 (1,618 ) 71,078 Commingled fixed income securities 1,619 — (70 ) 1,549 Mortgage-backed / asset-backed securities 168,585 730 (3,480 ) 165,835 Total $ 383,215 $ 2,245 $ (7,330 ) $ 378,130 December 31, 2017 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 131,872 $ 1,984 $ (1,090 ) $ 132,766 Corporate debt securities 73,612 1,724 (227 ) 75,109 Commingled fixed income securities 1,796 — (40 ) 1,756 Mortgage-backed / asset-backed securities 158,496 1,348 (1,642 ) 158,202 Total $ 365,776 $ 5,056 $ (2,999 ) $ 367,833
Available-for-sale Securities	Scheduled maturities of available-for-sale securities at June 30, 2018 were as follows: Amortized cost Estimated fair value Within 1 year $ 56,012 $ 55,705 After 1 year through 5 years 114,973 113,720 After 5 years through 10 years 58,066 56,867 After 10 years 154,164 151,838 Total $ 383,215 $ 378,130
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair value of derivative instruments at June 30, 2018 and December 31, 2017 was as follows: Designation of Derivatives Balance Sheet Location June 30, December 31, Derivatives designated as hedging instruments Foreign exchange contracts Other current assets and prepayments $ 114 $ 57 Accounts payable and accrued liabilities (39 ) (144 ) Interest rate swap Other assets 824 1,776 Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets and prepayments 2,559 65 Accounts payable and accrued liabilities (139 ) (191 ) Total derivative assets $ 3,497 $ 1,898 Total derivative liabilities (178 ) (335 ) Total net derivative asset $ 3,319 $ 1,563
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following represents the results of cash flow hedging relationships for the three and six months ended June 30, 2018 and 2017 : Three Months Ended June 30, Derivative Gain (Loss) Recognized in AOCI (Effective Portion) Location of Gain (Loss) (Effective Portion) Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion) Derivative Instrument 2018 2017 2018 2017 Foreign exchange contracts $ 119 $ (599 ) Revenue $ 79 $ 34 Cost of sales (1 ) 36 Interest rate swap (771 ) (147 ) Interest Expense — — $ (652 ) $ (746 ) $ 78 $ 70 Six Months Ended June 30, Derivative Gain (Loss) Recognized in AOCL (Effective Portion) Location of Gain (Loss) (Effective Portion) Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion) Derivative Instrument 2018 2017 2018 2017 Foreign exchange contracts $ 154 $ (549 ) Revenue $ 76 $ 6 Cost of sales (85 ) 148 Interest rate swap (952 ) 321 Interest Expense — — $ (798 ) $ (228 ) $ (9 ) $ 154
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The table below represents the mark-to-market adjustments of non-designated derivative instruments for the three and six months ended June 30, 2018 and 2017 . All outstanding contracts at June 30, 2018 mature within 12 months. Three Months Ended June 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2018 2017 Foreign exchange contracts Selling, general and administrative expense $ (14,828 ) $ 789 Six Months Ended June 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2018 2017 Foreign exchange contracts Selling, general and administrative expense $ (18,396 ) $ (1,061 )
Fair Value, by Balance Sheet Grouping	The carrying value and estimated fair value of our debt at June 30, 2018 and December 31, 2017 were as follows: June 30, 2018 December 31, 2017 Carrying value $ 3,572,809 $ 3,830,335 Fair value $ 3,381,964 $ 3,718,986

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Activity in our restructuring reserves for the six months ended June 30, 2018 and 2017 was as follows: Severance and benefits costs Other exit costs Total Balance at January 1, 2018 $ 42,151 $ 1,569 $ 43,720 Expenses, net 7,990 4,417 12,407 Cash payments (26,942 ) (586 ) (27,528 ) Balance at June 30, 2018 $ 23,199 $ 5,400 $ 28,599 Balance at January 1, 2017 $ 28,234 $ 281 $ 28,515 Expenses, net 22,489 1,560 24,049 Cash payments (17,154 ) (497 ) (17,651 ) Balance at June 30, 2017 $ 33,569 $ 1,344 $ 34,913

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	Total debt at June 30, 2018 and December 31, 2017 consisted of the following: Interest rate June 30, 2018 December 31, 2017 Notes due March 2018 5.60% $ — $ 250,000 Notes due March 2019 6.25% 300,000 300,000 Notes due September 2020 3.625% 300,000 300,000 Notes due October 2021 3.625% 600,000 600,000 Notes due May 2022 4.375% 400,000 400,000 Notes due April 2023 4.7% 400,000 400,000 Notes due March 2024 4.625% 500,000 500,000 Notes due January 2037 5.25% 35,841 35,841 Notes due March 2043 6.7% 425,000 425,000 Term loans Variable 640,000 650,000 Other debt 5,378 5,476 Principal amount 3,606,219 3,866,317 Less: unamortized costs, net 33,410 35,982 Total debt 3,572,809 3,830,335 Less: current portion long-term debt 334,999 271,057 Long-term debt $ 3,237,810 $ 3,559,278

Pensions and Other Benefit Pr35

Pensions and Other Benefit Programs (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The components of net periodic benefit cost (income) were as follows: Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Three Months Ended Three Months Ended Three Months Ended June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Service cost $ 9 $ 34 $ 575 $ 559 $ 405 $ 434 Interest cost 15,108 17,121 4,591 4,640 1,607 1,770 Expected return on plan assets (25,119 ) (24,369 ) (9,118 ) (7,961 ) — — Amortization of transition credit — — (2 ) (2 ) — — Amortization of prior service (credit) cost (15 ) (15 ) (18 ) (17 ) 88 74 Amortization of net actuarial loss 7,628 7,229 1,870 1,892 881 905 Net periodic benefit (income) cost $ (2,389 ) $ — $ (2,102 ) $ (889 ) $ 2,981 $ 3,183 Contributions to benefit plans $ 1,906 $ 1,046 $ 769 $ 1,319 $ 4,316 $ 4,426 Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Six Months Ended Six Months Ended Six Months Ended June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Service cost $ 46 $ 64 $ 1,164 $ 1,101 $ 811 $ 853 Interest cost 30,724 34,366 9,287 9,184 3,210 3,541 Expected return on plan assets (50,543 ) (48,917 ) (18,304 ) (15,742 ) — — Amortization of transition credit — — (3 ) (4 ) — — Amortization of prior service (credit) cost (30 ) (30 ) (37 ) (35 ) 176 148 Amortization of net actuarial loss 15,704 14,497 3,783 3,926 1,815 1,789 Net periodic benefit (income) cost $ (4,099 ) $ (20 ) $ (4,110 ) $ (1,570 ) $ 6,012 $ 6,331 Contributions to benefit plans $ 3,194 $ 2,594 $ 9,979 $ 10,391 $ 9,111 $ 9,124

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Changes in stockholders’ equity for the six months ended June 30, 2018 and 2017 were as follows: Preferred stock Preference stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at December 31, 2017 $ 1 $ 441 $ 323,338 $ 138,367 $ 5,229,584 $ (792,173 ) $ (4,710,997 ) $ 188,561 Cumulative effect of accounting changes — — — — (12,207 ) — — (12,207 ) Net income — — — — 101,727 — — 101,727 Other comprehensive income — — — — — (18,078 ) — (18,078 ) Dividends paid — — — — (70,113 ) — — (70,113 ) Issuance of common stock — — — (24,267 ) — — 21,141 (3,126 ) Conversion to common stock — (26 ) — (521 ) — — 547 — Stock-based compensation expense — — — 9,153 — — — 9,153 Balance at June 30, 2018 $ 1 $ 415 $ 323,338 $ 122,732 $ 5,248,991 $ (810,251 ) $ (4,689,309 ) $ 195,917 Preferred stock Preference stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total (deficit) equity Balance at December 31, 2016 $ 1 $ 483 $ 323,338 $ 148,125 $ 5,107,734 $ (940,133 ) $ (4,743,208 ) $ (103,660 ) Net income — — — — 114,034 — — 114,034 Other comprehensive loss — — — — — 80,818 — 80,818 Dividends paid — — — — (69,527 ) — — (69,527 ) Issuance of common stock — — — (28,567 ) — — 23,744 (4,823 ) Conversion to common stock — (20 ) — (398 ) — — 418 — Stock-based compensation expense — — — 12,531 — — — 12,531 Balance at June 30, 2017 $ 1 $ 463 $ 323,338 $ 131,691 $ 5,152,241 $ (859,315 ) $ (4,719,046 ) $ 29,373

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI for the three and six months ended June 30, 2018 and 2017 were as follows: Amount Reclassified from AOCI (a) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Gains (losses) on cash flow hedges Revenue $ 79 $ 34 $ 76 $ 6 Cost of sales (1 ) 36 (85 ) 148 Interest expense, net (507 ) (507 ) (1,014 ) (1,014 ) Total before tax (429 ) (437 ) (1,023 ) (860 ) Benefit from income taxes 110 170 261 336 Net of tax $ (319 ) $ (267 ) $ (762 ) $ (524 ) Gains (losses) on available for sale securities Interest expense, net $ 214 $ (117 ) $ 190 $ (226 ) (Provision) benefit from income taxes (54 ) 44 (48 ) 84 Net of tax $ 160 $ (73 ) $ 142 $ (142 ) Pension and Postretirement Benefit Plans (b) Transition credit $ 2 $ 2 $ 3 $ 4 Prior service costs (55 ) (42 ) (109 ) (83 ) Actuarial losses (10,379 ) (10,026 ) (21,302 ) (20,212 ) Total before tax (10,432 ) (10,066 ) (21,408 ) (20,291 ) Benefit from income taxes 2,564 3,442 5,368 6,956 Net of tax $ (7,868 ) $ (6,624 ) $ (16,040 ) $ (13,335 ) (a) Amounts in parentheses indicate reductions to income and increases to other comprehensive income (loss). (b) Reclassified from accumulated other comprehensive loss into other components of net pension and postretirement cost. These amounts are included in the computation of net periodic costs (see Note 12 for additional details).
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in AOCI for the six months ended June 30, 2018 and 2017 were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2018 $ (406 ) $ 1,597 $ (748,800 ) $ (44,564 ) $ (792,173 ) Other comprehensive loss before reclassifications (a) (511 ) (5,154 ) — (29,073 ) (34,738 ) Reclassifications into earnings (a), (b) 762 (142 ) 16,040 — 16,660 Net other comprehensive income (loss) 251 (5,296 ) 16,040 (29,073 ) (18,078 ) Balance at June 30, 2018 $ (155 ) $ (3,699 ) $ (732,760 ) $ (73,637 ) $ (810,251 ) Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2017 $ (1,485 ) $ 120 $ (787,813 ) $ (150,955 ) $ (940,133 ) Other comprehensive (loss) income before reclassifications (a) (141 ) 1,734 (1,482 ) 66,706 66,817 Reclassifications into earnings (a), (b) 524 142 13,335 — 14,001 Net other comprehensive income 383 1,876 11,853 66,706 80,818 Balance at June 30, 2017 $ (1,102 ) $ 1,996 $ (775,960 ) $ (84,249 ) $ (859,315 ) (a) Amounts are net of tax. Amounts in parentheses indicate debits to AOCI. (b) See table above for additional details of these reclassifications.

Description of Business and B38

Description of Business and Basis of Presentation (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ (5,248,991)		$ (5,229,584)
ASU No. 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ (3,000)

Revenue from Contracts with C39

Revenue from Contracts with Customers (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ (5,248,991)		$ (5,248,991)			$ (5,229,584)
Income before income taxes	53,464	$ 42,251	$ 114,753	$ 126,757
Advanced billings, revenue recognized	$ 128,000
Expected timing of satisfaction period	12 months		12 months
Selling, general and administrative expense
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Amortization expense	$ 3,000		$ 7,000
Other assets
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Unamortized contract costs	26,000		26,000
Software
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cost of products and sales	26,459	$ 23,361	50,514	$ 46,515
ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings					$ 9,000
ASC 606 | Total increase (decrease)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	(7,167)		(7,167)
Income before income taxes	11,025		20,532
ASC 606 | Software
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cost of products and sales	10,000		21,000
ASC 606 | Software | Total increase (decrease)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cost of products and sales	690		1,972
Income before income taxes	$ 9,000		$ 19,000

Revenue from Contracts with C40

Revenue from Contracts with Customers (Income Statement) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 861,436	$ 730,413	$ 1,742,384	$ 1,473,593
Costs and expenses:
Total costs and expenses	807,972	688,162	1,627,631	1,346,836
Selling, general and administrative	282,456	283,073	577,894	573,645
Income before income taxes	53,464	42,251	114,753	126,757
Provision for income taxes	6,458	790	22,721	27,872
Net income from continuing operations	$ 47,006	$ 41,461	$ 92,032	$ 98,885
Basic earnings per share attributable to common stockholders:
Basic earnings per share attributable to common stockholders (in dollars per share)	$ 0.25	$ 0.22	$ 0.49	$ 0.53
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ 0.25	$ 0.22	$ 0.49	$ 0.53
ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 640,003		$ 1,293,790
Prior guidance | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	852,781		1,724,060
Costs and expenses:
Total costs and expenses	810,342		1,629,841
Selling, general and administrative	285,587		582,017
Income before income taxes	42,439		94,221
Provision for income taxes	3,640		17,434
Net income from continuing operations	$ 38,799		$ 76,787
Basic earnings per share attributable to common stockholders:
Basic earnings per share attributable to common stockholders (in dollars per share)	$ 0.21		$ 0.41
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ 0.22		$ 0.41
Total increase (decrease) | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 8,655		$ 18,324
Costs and expenses:
Total costs and expenses	(2,370)		(2,210)
Selling, general and administrative	(3,131)		(4,123)
Income before income taxes	11,025		20,532
Provision for income taxes	2,818		5,287
Net income from continuing operations	$ 8,207		$ 15,245
Basic earnings per share attributable to common stockholders:
Basic earnings per share attributable to common stockholders (in dollars per share)	$ 0.04		$ 0.08
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ 0.03		$ 0.08
Equipment sales
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ 105,750	$ 121,384	$ 216,121	$ 245,887
Costs and expenses:
Cost of products and sales	47,106	51,506	93,160	96,122
Equipment sales | Prior guidance | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	106,301		217,533
Costs and expenses:
Cost of products and sales	47,035		93,219
Equipment sales | Total increase (decrease) | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	(551)		(1,412)
Costs and expenses:
Cost of products and sales	71		(59)
Software
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	91,702	81,319	167,996	154,165
Costs and expenses:
Cost of products and sales	26,459	23,361	50,514	46,515
Software | ASC 606
Costs and expenses:
Cost of products and sales	10,000		21,000
Software | Prior guidance | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	82,054		147,329
Costs and expenses:
Cost of products and sales	25,769		48,542
Software | Total increase (decrease) | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	9,648		20,667
Costs and expenses:
Cost of products and sales	690		1,972
Income before income taxes	9,000		19,000
Business services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	367,876	217,903	754,414	442,422
Costs and expenses:
Cost of products and sales	293,480	$ 153,063	590,879	$ 303,906
Business services | Prior guidance | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	368,318		755,345
Business services | Total increase (decrease) | ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenue	$ (442)		$ (931)

Revenue from Contracts with C41

Revenue from Contracts with Customers (Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Total assets	$ 6,246,751		$ 6,678,715
Accounts receivable (net of allowance of $13,515 and $14,786, respectively)	408,703		427,022
Current income taxes	39,100		58,439
Other current assets and prepayments	102,104		74,589
Assets of discontinued operations	313,356		334,848
Noncurrent income taxes	54,099		59,909
Other assets	528,945		540,750
Total Liabilities
Total liabilities	6,050,834		6,490,154
Accounts payable and accrued liabilities	1,349,344		1,450,149
Current income taxes	5,686		8,823
Advance billings	237,709		257,766
Liabilities of discontinued operations	84,219		72,808
Deferred taxes on income	234,190		234,643
Other noncurrent liabilities	461,074		519,079
Stockholders’ equity:
Total stockholders’ equity	195,917		188,561	$ 29,373	$ (103,660)
Retained earnings	5,248,991		5,229,584
Accumulated other comprehensive loss	(810,251)		$ (792,173)
ASC 606
Stockholders’ equity:
Retained earnings		$ (9,000)
Prior guidance | ASC 606
ASSETS
Total assets	6,250,943
Accounts receivable (net of allowance of $13,515 and $14,786, respectively)	407,204
Current income taxes	39,298
Other current assets and prepayments	102,760
Assets of discontinued operations	312,922
Noncurrent income taxes	54,429
Other assets	533,886
Total Liabilities
Total liabilities	6,062,221
Accounts payable and accrued liabilities	1,347,837
Current income taxes	43
Advance billings	250,948
Liabilities of discontinued operations	84,132
Deferred taxes on income	238,539
Other noncurrent liabilities	462,110
Stockholders’ equity:
Total stockholders’ equity	188,722
Retained earnings	5,241,824
Accumulated other comprehensive loss	(810,279)
Total increase (decrease) | ASC 606
ASSETS
Total assets	(4,192)
Accounts receivable (net of allowance of $13,515 and $14,786, respectively)	1,499
Current income taxes	(198)
Other current assets and prepayments	(656)
Assets of discontinued operations	434
Noncurrent income taxes	(330)
Other assets	(4,941)
Total Liabilities
Total liabilities	(11,387)
Accounts payable and accrued liabilities	1,507
Current income taxes	5,643
Advance billings	(13,239)
Liabilities of discontinued operations	87
Deferred taxes on income	(4,349)
Other noncurrent liabilities	(1,036)
Stockholders’ equity:
Total stockholders’ equity	7,195
Retained earnings	7,167
Accumulated other comprehensive loss	$ 28

Revenue from Contracts with C42

Revenue from Contracts with Customers (Disaggregates of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	$ 640,003		$ 1,293,790
Revenue from leasing transactions and financing	221,433		448,594
Total Consolidated Revenue	861,436	$ 730,413	1,742,384	$ 1,473,593
Total revenue	640,003		1,293,790
ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	640,003		1,293,790
Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	121,377		237,937
Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	518,626		1,055,853
Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	640,003		1,293,790
Revenue from leasing transactions and financing	0		0
Total Consolidated Revenue	640,003		1,293,790
Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	26,957		57,467
Revenue from leasing transactions and financing	78,793		158,654
Total Consolidated Revenue	105,750	121,384	216,121	245,887
Supplies
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	55,457		115,450
Revenue from leasing transactions and financing	0		0
Total Consolidated Revenue	55,457	58,639	115,450	119,694
Software
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	91,702		167,996
Revenue from leasing transactions and financing	0		0
Total Consolidated Revenue	91,702	81,319	167,996	154,165
Rentals
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	7,260		15,137
Revenue from leasing transactions and financing	84,549		171,298
Total Consolidated Revenue	91,809	95,447	186,435	194,754
Financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	18,580		38,132
Revenue from leasing transactions and financing	58,091		118,642
Total Consolidated Revenue	76,671	83,653	156,774	169,398
Support services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	72,171		145,194
Revenue from leasing transactions and financing			0
Total Consolidated Revenue	72,171	72,068	145,194	147,273
Business services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	367,876		754,414
Revenue from leasing transactions and financing	0		0
Total Consolidated Revenue	367,876	217,903	754,414	442,422
Leasing transactions and financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Revenue from leasing transactions and financing	221,433		448,594
Total Consolidated Revenue	221,433		448,594
Software Solutions
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	91,702		167,996
Total Consolidated Revenue	91,702	$ 81,081	167,996	$ 154,280
Total revenue	91,702		167,996
Software Solutions | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	91,702		167,996
Software Solutions | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	38,963		65,020
Software Solutions | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	52,739		102,976
Software Solutions | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	91,702		167,996
Software Solutions | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Software Solutions | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Software Solutions | Software
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	91,702		167,996
Software Solutions | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Software Solutions | Financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Software Solutions | Support services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Software Solutions | Business services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Software Solutions | Leasing transactions and financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	239,100		485,690
Total revenue	239,100		485,690
Global Ecommerce | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	239,100		485,690
Global Ecommerce | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	0		0
Global Ecommerce | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	239,100		485,690
Global Ecommerce | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	239,100		485,690
Global Ecommerce | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce | Software
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce | Financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce | Support services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Global Ecommerce | Business services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	239,100		485,690
Global Ecommerce | Leasing transactions and financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	122,730		257,188
Total revenue	122,730		257,188
Presort Services | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	122,730		257,188
Presort Services | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	0		0
Presort Services | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	122,730		257,188
Presort Services | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	122,730		257,188
Presort Services | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services | Software
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services | Financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services | Support services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
Presort Services | Business services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	122,730		257,188
Presort Services | Leasing transactions and financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
North America Mailing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	127,764		260,696
Total revenue	314,546		640,115
North America Mailing | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	127,764		260,696
North America Mailing | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	51,574		107,672
North America Mailing | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	76,190		153,024
North America Mailing | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	127,764		260,696
North America Mailing | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	15,303		32,449
North America Mailing | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	36,271		75,223
North America Mailing | Software
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
North America Mailing | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	5,121		10,832
North America Mailing | Financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	15,714		32,290
North America Mailing | Support services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	50,902		101,647
North America Mailing | Business services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	4,453		8,255
North America Mailing | Leasing transactions and financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	186,782		379,419
International Mailing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	58,707		122,220
Total revenue	93,358		191,395
International Mailing | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	58,707		122,220
International Mailing | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	30,840		65,245
International Mailing | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Consolidated Revenue	27,867		56,975
International Mailing | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	58,707		122,220
International Mailing | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	11,654		25,018
International Mailing | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	19,186		40,227
International Mailing | Software
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	0		0
International Mailing | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	2,139		4,305
International Mailing | Financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	2,866		5,842
International Mailing | Support services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	21,269		43,547
International Mailing | Business services
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	1,593		3,281
International Mailing | Leasing transactions and financing
Disaggregation of Revenue [Line Items]
Total Revenue from sales and services (ASC 606)	$ 34,651		$ 69,175

Revenue from Contracts with C43

Revenue from Contracts with Customers (Contract Assets and Advance Billings) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Contracts assets, current	$ 8,213	$ 5,075
Contracts assets, noncurrent	4,006	648
Advance billings	186,778	209,098
Advance billings, noncurrent	14,658	$ 17,765
Total increase (decrease)
Contracts assets, current	3,138
Contracts assets, noncurrent	3,358
Advance billings, current	(22,320)
Advance billings, noncurrent	$ (3,107)

Revenue from Contracts with C44

Revenue from Contracts with Customers (Future Performance Obligations) (Details) $ in Thousands	Jun. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 128,899
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	162,064
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	162,937
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	453,900
Software Solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 41,674
Expected timing of satisfaction period	6 months
Software Solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 36,120
Expected timing of satisfaction period	1 year
Software Solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 24,589
Expected timing of satisfaction period
Software Solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 102,383
North America Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 57,793
Expected timing of satisfaction period	6 months
North America Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 89,529
Expected timing of satisfaction period	1 year
North America Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 86,633
Expected timing of satisfaction period
North America Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 233,955
International Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 29,432
Expected timing of satisfaction period	6 months
International Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 36,415
Expected timing of satisfaction period	1 year
International Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 51,715
Expected timing of satisfaction period
International Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 117,562

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment reporting information profit (loss)
Total revenue	$ 861,436	$ 730,413	$ 1,742,384	$ 1,473,593
Reconciling items:
Interest, net	(29,623)	(27,600)	(60,476)	(53,276)
Restructuring charges and asset impairments, net	(11,503)	(25,990)	(12,407)	(27,639)
Gain from the sale of technology			0	6,085
Income from continuing operations before taxes	53,464	42,251	114,753	126,757
Provision for income taxes	6,458	790	22,721	27,872
Income from discontinued operations, net of tax	1,208	7,440	9,695	15,149
Net income	48,214	48,901	101,727	114,034
Operating Segments
Segment reporting information profit (loss)
EBIT	153,413	155,148	310,821	337,555
Segment Reconciling Items
Reconciling items:
Unallocated corporate expenses	(46,477)	(52,549)	(97,561)	(110,151)
Interest, net	(41,969)	(40,443)	(85,047)	(79,093)
Restructuring charges and asset impairments, net	(11,503)	(25,990)	(12,407)	(27,639)
Gain from the sale of technology	0	6,085	0	6,085
Transaction costs	0	0	(1,053)	0
Commerce Services
Segment reporting information profit (loss)
Total revenue	361,830	212,958	742,878	433,787
Commerce Services | Operating Segments
Segment reporting information profit (loss)
EBIT	6,572	15,240	25,887	41,687
Commerce Services | Global Ecommerce
Segment reporting information profit (loss)
Total revenue	239,100	94,506	485,690	182,658
EBIT	(5,993)	(4,030)	(13,704)	(8,300)
Commerce Services | Presort Services
Segment reporting information profit (loss)
Total revenue	122,730	118,452	257,188	251,129
EBIT	12,565	19,270	39,591	49,987
Small & Medium Business Solutions
Segment reporting information profit (loss)
Total revenue	407,904	436,374	831,510	885,526
Small & Medium Business Solutions | Operating Segments
Segment reporting information profit (loss)
EBIT	128,408	134,817	264,009	289,471
Small & Medium Business Solutions | North America Mailing
Segment reporting information profit (loss)
Total revenue	314,546	340,949	640,115	696,902
EBIT	115,193	120,797	234,763	262,041
Small & Medium Business Solutions | International Mailing
Segment reporting information profit (loss)
Total revenue	93,358	95,425	191,395	188,624
EBIT	13,215	14,020	29,246	27,430
Software Solutions
Segment reporting information profit (loss)
Total revenue	91,702	81,081	167,996	154,280
Software Solutions | Operating Segments
Segment reporting information profit (loss)
EBIT	$ 18,433	$ 5,091	$ 20,925	$ 6,397

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - DMT - Disposed of by Sale - USD ($) $ in Millions	Aug. 01, 2018	Dec. 31, 2018	Jul. 02, 2018
Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale, net		$ 270
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price of DMT			$ 316
Proceeds from sale	$ 24

Discontinued Operations (Financ

Discontinued Operations (Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax	$ 1,208	$ 7,440	$ 9,695	$ 15,149
DMT | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	89,201	90,958	191,435	184,418
Earnings from discontinued operations	8,278	11,602	21,620	23,645
Transaction costs	(7,238)	0	(8,777)	0
Income from discontinued operations before taxes	1,040	11,602	12,843	23,645
Tax (benefit) provision	(168)	4,162	3,148	8,496
Income from discontinued operations, net of tax	$ 1,208	$ 7,440	$ 9,695	$ 15,149

Discontinued Operations (Assets

Discontinued Operations (Assets and Liabilities) (Details) - DMT - Disposed of by Sale - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable, net	$ 69,924	$ 97,402
Inventories	54,808	48,910
Other current assets and prepayments	6,653	3,365
Property, plant and equipment, net	3,185	5,541
Rental property and equipment, net	1,041	1,786
Goodwill	176,501	177,799
Other assets	1,244	45
Total assets of discontinued operations	313,356	334,848
Accounts payable and accrued liabilities	34,244	36,592
Advance billings	44,694	30,607
Other noncurrent liabilities	5,281	5,609
Total liabilities of discontinued operations	$ 84,219	$ 72,808

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Numerator:
Net income from continuing operations	$ 47,006	$ 41,461	$ 92,032	$ 98,885
Income from discontinued operations, net of tax	1,208	7,440	9,695	15,149
Net income (numerator for diluted EPS)	48,214	48,901	101,727	114,034
Less: Preference stock dividend	8	10	16	19
Income attributable to common stockholders (numerator for basic EPS)	$ 48,206	$ 48,891	$ 101,711	$ 114,015
Denominator:
Weighted-average shares used in basic EPS (in shares)	187,180	186,333	187,004	186,136
Effect of dilutive shares (in shares)	934	1,044	1,053	809
Weighted-average shares used in diluted EPS (in shares)	188,114	187,377	188,057	186,945
Basic earnings per share:
Continuing operations (in dollars per share)	$ 0.25	$ 0.22	$ 0.49	$ 0.53
Discontinued operations (in dollars per share)	0.01	0.04	0.05	0.08
Net Income (in dollars per share)	0.26	0.26	0.54	0.61
Diluted earnings per share:
Continuing operations (in dollars per share)	0.25	0.22	0.49	0.53
Discontinued operations (in dollars per share)	0.01	0.04	0.05	0.08
Net Income (in dollars per share)	$ 0.26	$ 0.26	$ 0.54	$ 0.61
Anti-dilutive shares not used in calculating diluted weighted-average shares (in shares)	12,453	9,916	11,959	11,379

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 13,502	$ 11,767
Supplies and service parts	21,822	21,475
Finished products	19,461	13,261
Inventory at FIFO cost	54,785	46,503
Excess of FIFO cost over LIFO cost	(5,734)	(5,734)
Total inventory, net	$ 49,051	$ 40,769

Finance Assets (Finance Receiva

Finance Assets (Finance Receivables) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in finance receivables	$ 1,409,357	$ 1,480,090
North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in finance receivables	1,151,780	1,205,476
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in finance receivables	257,577	274,614
Sales-type lease receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,277,359	1,315,608
Unguaranteed residual values	75,749	88,295
Unearned income	(268,397)	(279,045)
Allowance for credit losses	(13,535)	(10,515)
Net investment in receivables	1,071,176	1,114,343
Sales-type lease receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,004,241	1,023,549
Unguaranteed residual values	62,358	74,093
Unearned income	(209,870)	(216,720)
Allowance for credit losses	(11,129)	(7,721)
Net investment in receivables	845,600	873,201
Sales-type lease receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	273,118	292,059
Unguaranteed residual values	13,391	14,202
Unearned income	(58,527)	(62,325)
Allowance for credit losses	(2,406)	(2,794)
Net investment in receivables	225,576	241,142
Loan receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	345,990	373,865
Allowance for credit losses	(7,809)	(8,118)
Net investment in receivables	338,181	365,747
Loan receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	313,049	339,373
Allowance for credit losses	(6,869)	(7,098)
Net investment in receivables	306,180	332,275
Loan receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	32,941	34,492
Allowance for credit losses	(940)	(1,020)
Net investment in receivables	$ 32,001	$ 33,472
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Lease period	3 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Lease period	5 years

Finance Assets (Allowance for C

Finance Assets (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Financing Receivable, Allowance for Credit Losses [Line Items]
Revenue recognition resume period (less than)	60 days
Allowance for Credit Losses
Balance Beginning	$ 18,633	$ 20,500
Amounts charged to expense	13,749	8,989
Write-offs and other	(11,038)	(9,877)
Balance Closing	$ 21,344	19,612
Sales-type lease receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Revenue recognition discontinuation period (more than)	120 days
Sales-type lease receivables | North America
Allowance for Credit Losses
Balance Beginning	$ 7,721	8,247
Amounts charged to expense	5,946	5,182
Write-offs and other	(2,538)	(4,973)
Balance Closing	11,129	8,456
Sales-type lease receivables | International
Allowance for Credit Losses
Balance Beginning	2,794	2,647
Amounts charged to expense	545	466
Write-offs and other	(933)	(617)
Balance Closing	$ 2,406	2,496
Loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Revenue recognition discontinuation period (more than)	90 days
Loan receivables | North America
Allowance for Credit Losses
Balance Beginning	$ 7,098	8,517
Amounts charged to expense	7,008	2,891
Write-offs and other	(7,237)	(3,905)
Balance Closing	6,869	7,503
Loan receivables | International
Allowance for Credit Losses
Balance Beginning	1,020	1,089
Amounts charged to expense	250	450
Write-offs and other	(330)	(382)
Balance Closing	$ 940	$ 1,157

Finance Assets (Aging of Receiv

Finance Assets (Aging of Receivables) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 1,623,349	$ 1,689,473
1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	1,565,324	1,621,914
Contract value	1,565,324	1,621,914
Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	58,025	67,559
Still accruing interest	7,969	12,545
Not accruing interest	50,056	55,014
Contract value	58,025	67,559
Sales-type lease receivables | North America
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,004,241	1,023,549
Sales-type lease receivables | North America | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	961,356	971,002
Contract value	961,356	971,002
Sales-type lease receivables | North America | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	42,885	52,547
Still accruing interest	6,297	10,807
Not accruing interest	36,588	41,740
Contract value	42,885	52,547
Sales-type lease receivables | International
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	273,118	292,059
Sales-type lease receivables | International | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	266,146	286,170
Contract value	266,146	286,170
Sales-type lease receivables | International | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	6,972	5,889
Still accruing interest	1,672	1,738
Not accruing interest	5,300	4,151
Contract value	6,972	5,889
Loan receivables | North America
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	313,049	339,373
Loan receivables | North America | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	305,116	330,503
Contract value	305,116	330,503
Loan receivables | North America | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	7,933	8,870
Still accruing interest	0	0
Not accruing interest	7,933	8,870
Contract value	7,933	8,870
Loan receivables | International
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	32,941	34,492
Loan receivables | International | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	32,706	34,239
Contract value	32,706	34,239
Loan receivables | International | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	235	253
Still accruing interest	0	0
Not accruing interest	235	253
Contract value	$ 235	$ 253

Finance Assets (Credit Quality)

Finance Assets (Credit Quality) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Low
Financing Receivable, Recorded Investment [Line Items]
Approximate percentage of portfolio	30.00%
Medium
Financing Receivable, Recorded Investment [Line Items]
Approximate percentage of portfolio	40.00%
High
Financing Receivable, Recorded Investment [Line Items]
Approximate percentage of portfolio	30.00%
Sales-type lease receivables
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	$ 1,277,359	$ 1,315,608
Sales-type lease receivables | North America
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	1,004,241	1,023,549
Sales-type lease receivables | North America | Low
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	817,554	819,776
Sales-type lease receivables | North America | Medium
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	130,175	148,000
Sales-type lease receivables | North America | High
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	20,663	21,728
Sales-type lease receivables | North America | Not Scored
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	35,849	34,045
Loan receivables
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	345,990	373,865
Loan receivables | North America
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	313,049	339,373
Loan receivables | North America | Low
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	244,570	262,646
Loan receivables | North America | Medium
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	50,711	56,744
Loan receivables | North America | High
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	5,593	6,791
Loan receivables | North America | Not Scored
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	$ 12,175	$ 13,192

Acquisitions, Intangible Asse55

Acquisitions, Intangible Assets and Goodwill (Acquisition) (Details) - Newgistics - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Acquisition of business	$ 471
Revenues from Newgistics		$ 127		$ 257
Pro forma revenue			$ 115		$ 234

Acquisitions, Intangible Asse56

Acquisitions, Intangible Assets and Goodwill (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Finite lived intangible assets
Gross Carrying Amount	$ 688,595		$ 688,595		$ 712,487
Accumulated Amortization	(439,470)		(439,470)		(440,301)
Net Carrying Amount	249,125		249,125		272,186
Amortization expense	11,000	$ 8,000	22,000	$ 17,000
Customer relationships
Finite lived intangible assets
Gross Carrying Amount	482,092		482,092		504,716
Accumulated Amortization	(265,904)		(265,904)		(271,066)
Net Carrying Amount	216,188		216,188		233,650
Software & technology
Finite lived intangible assets
Gross Carrying Amount	166,100		166,100		167,122
Accumulated Amortization	(141,338)		(141,338)		(138,724)
Net Carrying Amount	24,762		24,762		28,398
Trademarks & other
Finite lived intangible assets
Gross Carrying Amount	40,403		40,403		40,649
Accumulated Amortization	(32,228)		(32,228)		(30,511)
Net Carrying Amount	$ 8,175		$ 8,175		$ 10,138

Acquisitions, Intangible Asse57

Acquisitions, Intangible Assets and Goodwill (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Finite lived intangible assets future amortization expense
Remaining for year ending December 31, 2018	$ 25,997
Year ending December 31, 2019	38,023
Year ending December 31, 2020	33,722
Year ending December 31, 2021	30,001
Year ending December 31, 2022	29,012
Thereafter	92,370
Net Carrying Amount	$ 249,125	$ 272,186

Acquisitions, Intangible Asse58

Acquisitions, Intangible Assets and Goodwill (Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Goodwill
Goodwill	$ 1,774,645
Acquisitions	2,684
Other	(9,481)
Goodwill	1,767,848
Commerce Services
Goodwill
Goodwill	807,242
Acquisitions	2,684
Other	(653)
Goodwill	809,273
Commerce Services | Global Ecommerce
Goodwill
Goodwill	602,461
Acquisitions	0
Other	(653)
Goodwill	601,808
Commerce Services | Presort Services
Goodwill
Goodwill	204,781
Acquisitions	2,684
Other	0
Goodwill	207,465
Small & Medium Business Solutions
Goodwill
Goodwill	527,108
Acquisitions	0
Other	(6,138)
Goodwill	520,970
Small & Medium Business Solutions | North America Mailing
Goodwill
Goodwill	368,905
Acquisitions	0
Other	(354)
Goodwill	368,551
Small & Medium Business Solutions | International Mailing
Goodwill
Goodwill	158,203
Acquisitions	0
Other	(5,784)
Goodwill	152,419
Software Solutions
Goodwill
Goodwill	440,295
Acquisitions	0
Other	(2,690)
Goodwill	$ 437,605

Fair Value Measurements and D59

Fair Value Measurements and Derivative Instruments (Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 870,020	$ 1,102,556
Liabilities	(178)	(335)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	239,453	260,959
Liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	630,567	841,597
Liabilities	(178)	(335)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Money market funds / commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	442,961	685,917
Money market funds / commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	114,665	143,349
Money market funds / commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	328,296	542,568
Money market funds / commercial paper | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	24,637	40,717
Equity securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Equity securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	24,637	40,717
Equity securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	22,344	6,085
Commingled fixed income securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,549	1,569
Commingled fixed income securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	20,795	4,516
Commingled fixed income securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	139,668	134,628
Government and related securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	123,239	116,041
Government and related securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	16,429	18,587
Government and related securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	71,078	75,109
Corporate debt securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Corporate debt securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	71,078	75,109
Corporate debt securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Mortgage-backed / asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	165,835	158,202
Mortgage-backed / asset-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Mortgage-backed / asset-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	165,835	158,202
Mortgage-backed / asset-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Interest rate swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	824	1,776
Interest rate swap | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Interest rate swap | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	824	1,776
Interest rate swap | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	2,673	122
Liabilities	(178)	(335)
Foreign exchange contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	0	0
Foreign exchange contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	2,673	122
Liabilities	(178)	(335)
Foreign exchange contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Liabilities	$ 0	$ 0

Fair Value Measurements and D60

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 383,215	$ 365,776
Gross unrealized gains	2,245	5,056
Gross unrealized losses	(7,330)	(2,999)
Estimated fair value	378,130	367,833
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	140,583	131,872
Gross unrealized gains	1,247	1,984
Gross unrealized losses	(2,162)	(1,090)
Estimated fair value	139,668	132,766
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	72,428	73,612
Gross unrealized gains	268	1,724
Gross unrealized losses	(1,618)	(227)
Estimated fair value	71,078	75,109
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,619	1,796
Gross unrealized gains	0	0
Gross unrealized losses	(70)	(40)
Estimated fair value	1,549	1,756
Mortgage-backed / asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	168,585	158,496
Gross unrealized gains	730	1,348
Gross unrealized losses	(3,480)	(1,642)
Estimated fair value	$ 165,835	$ 158,202

Fair Value Measurements and D61

Fair Value Measurements and Derivative Instruments (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Investment securities at a loss position for more than 12 months, aggregate unrealized holding losses	$ 6,000,000	$ 2,000,000
Investment securities at a loss position for more than 12 months, estimated fair value	228,000,000	116,000,000
Investment securities at a loss position for less than 12 months, aggregate unrealized holding losses	1,000,000	1,000,000
Investment securities at a loss position for less than 12 months, estimated fair value	90,000,000	91,000,000
Amount of ineffectiveness	0
Collateral outstanding	4,000,000
Term Loan | Notes due December 2020
Derivative [Line Items]
Loan amount	300,000,000
Foreign exchange contracts
Derivative [Line Items]
Derivative notional amount	11,000,000	$ 10,000,000
Interest rate swaps | Cash Flow Hedge
Derivative [Line Items]
Derivative notional amount	$ 300,000,000
Fixed interest rate	0.8826%

Fair Value Measurements and D62

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Amortized cost
Within 1 year	$ 56,012
After 1 year through 5 years	114,973
After 5 years through 10 years	58,066
After 10 years	154,164
Total	383,215	$ 365,776
Estimated fair value
Within 1 year	55,705
After 1 year through 5 years	113,720
After 5 years through 10 years	56,867
After 10 years	151,838
Total	$ 378,130	$ 367,833

Fair Value Measurements and D63

Fair Value Measurements and Derivative Instruments (Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Total net derivative asset	$ 3,319	$ 1,563
Total derivative assets
Derivative [Line Items]
Total net derivative asset	3,497	1,898
Total derivative liabilities
Derivative [Line Items]
Total net derivative asset	(178)	(335)
Foreign exchange contracts | Derivatives designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative asset	114	57
Foreign exchange contracts | Derivatives designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative asset	(39)	(144)
Foreign exchange contracts | Derivatives not designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative asset	2,559	65
Foreign exchange contracts | Derivatives not designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative asset	(139)	(191)
Interest rate swap | Derivatives designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative asset	$ 824	$ 1,776

Fair Value Measurements and D64

Fair Value Measurements and Derivative Instruments (Foreign Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCI (Effective Portion)	$ (652)	$ (746)	$ (798)	$ (228)
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	78	70	(9)	154
Revenue
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	79	34	76	6
Cost of sales
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	(1)	36	(85)	148
Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	0	0	0	0
Foreign exchange contracts
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCI (Effective Portion)	119	(599)	154	(549)
Foreign exchange contracts | Selling, general and administrative expense
Derivative [Line Items]
Derivative Gain (Loss) Recognized in Earnings	(14,828)	789	(18,396)	(1,061)
Interest rate swap
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCI (Effective Portion)	$ (771)	$ (147)	$ (952)	$ 321

Fair Value Measurements and D65

Fair Value Measurements and Derivative Instruments (Fair Value of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 3,572,809	$ 3,830,335
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 3,381,964	$ 3,718,986

Restructuring Charges (Restruct

Restructuring Charges (Restructuring Charges) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Restructuring Costs
Balance Beginning	$ 43,720	$ 28,515
Expenses, net	12,407	24,049
Cash payments	(27,528)	(17,651)
Balance Ending	$ 28,599	34,913
Restructuring reserve, expected international payment period, extend beyond	24 months
Minimum
Restructuring Costs
Restructuring reserve, expected payment period	12 months
Maximum
Restructuring Costs
Restructuring reserve, expected payment period	24 months
Severance and benefits costs
Restructuring Costs
Balance Beginning	$ 42,151	28,234
Expenses, net	7,990	22,489
Cash payments	(26,942)	(17,154)
Balance Ending	23,199	33,569
Other exit costs
Restructuring Costs
Balance Beginning	1,569	281
Expenses, net	4,417	1,560
Cash payments	(586)	(497)
Balance Ending	$ 5,400	$ 1,344

Restructuring Charges (Asset Im

Restructuring Charges (Asset Impairments) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Restructuring and Related Activities [Abstract]
Asset impairment charges	$ 4

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Principal amount	$ 3,606,219	$ 3,866,317
Less: unamortized costs, net	33,410	35,982
Total debt	3,572,809	3,830,335
Less: current portion long-term debt	334,999	271,057
Long-term debt	$ 3,237,810	3,559,278
Notes due | Notes due March 2018
Debt Instrument [Line Items]
Interest rate	5.60%
Principal amount	$ 0	250,000
Notes due | Notes due March 2019
Debt Instrument [Line Items]
Interest rate	6.25%
Principal amount	$ 300,000	300,000
Notes due | Notes due September 2020
Debt Instrument [Line Items]
Interest rate	3.625%
Principal amount	$ 300,000	300,000
Notes due | Notes due October 2021
Debt Instrument [Line Items]
Interest rate	3.625%
Principal amount	$ 600,000	600,000
Notes due | Notes due May 2022
Debt Instrument [Line Items]
Interest rate	4.375%
Principal amount	$ 400,000	400,000
Notes due | Notes due April 2023
Debt Instrument [Line Items]
Interest rate	4.70%
Principal amount	$ 400,000	400,000
Notes due | Notes due March 2024
Debt Instrument [Line Items]
Interest rate	4.625%
Principal amount	$ 500,000	500,000
Notes due | Notes due January 2037
Debt Instrument [Line Items]
Interest rate	5.25%
Principal amount	$ 35,841	35,841
Notes due | Notes due March 2043
Debt Instrument [Line Items]
Interest rate	6.70%
Principal amount	$ 425,000	425,000
Term loans
Debt Instrument [Line Items]
Principal amount	640,000	650,000
Other debt
Debt Instrument [Line Items]
Principal amount	$ 5,378	$ 5,476

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Principal amount	$ 3,606,219	$ 3,606,219	$ 3,866,317
Notes due | Notes due May 2022
Debt Instrument [Line Items]
Increase in interest rate	0.25%
Interest rate	4.375%	4.375%
Principal amount	$ 400,000	$ 400,000	400,000
Notes due | Notes due September 2020
Debt Instrument [Line Items]
Increase in interest rate	0.25%
Interest rate	3.625%	3.625%
Principal amount	$ 300,000	$ 300,000	300,000
Notes due | Notes due October 2021
Debt Instrument [Line Items]
Increase in interest rate	0.25%
Interest rate	3.625%	3.625%
Principal amount	$ 600,000	$ 600,000	600,000
Notes due | Notes due April 2023
Debt Instrument [Line Items]
Increase in interest rate	0.25%
Interest rate	4.70%	4.70%
Principal amount	$ 400,000	$ 400,000	400,000
Notes due | Notes due March 2018
Debt Instrument [Line Items]
Repayments of debt		$ 250,000
Interest rate	5.60%	5.60%
Principal amount	$ 0	$ 0	250,000
Notes due | Notes due March 2019
Debt Instrument [Line Items]
Interest rate	6.25%	6.25%
Principal amount	$ 300,000	$ 300,000	300,000
Term loans
Debt Instrument [Line Items]
Repayments of debt		10,000
Principal amount	$ 640,000	$ 640,000	$ 650,000

Pensions and Other Benefit Pr70

Pensions and Other Benefit Programs (Components of Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Pension Plans | United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 9	$ 34	$ 46	$ 64
Interest cost	15,108	17,121	30,724	34,366
Expected return on plan assets	(25,119)	(24,369)	(50,543)	(48,917)
Amortization of transition credit	0	0	0	0
Amortization of prior service (credit) cost	(15)	(15)	(30)	(30)
Amortization of net actuarial loss	7,628	7,229	15,704	14,497
Net periodic benefit cost (income)	(2,389)	0	(4,099)	(20)
Contributions to benefit plans	1,906	1,046	3,194	2,594
Defined Benefit Pension Plans | Foreign
Defined Benefit Plan Disclosure [Line Items]
Service cost	575	559	1,164	1,101
Interest cost	4,591	4,640	9,287	9,184
Expected return on plan assets	(9,118)	(7,961)	(18,304)	(15,742)
Amortization of transition credit	(2)	(2)	(3)	(4)
Amortization of prior service (credit) cost	(18)	(17)	(37)	(35)
Amortization of net actuarial loss	1,870	1,892	3,783	3,926
Net periodic benefit cost (income)	(2,102)	(889)	(4,110)	(1,570)
Contributions to benefit plans	769	1,319	9,979	10,391
Nonpension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	405	434	811	853
Interest cost	1,607	1,770	3,210	3,541
Expected return on plan assets	0	0	0	0
Amortization of transition credit	0	0	0	0
Amortization of prior service (credit) cost	88	74	176	148
Amortization of net actuarial loss	881	905	1,815	1,789
Net periodic benefit cost (income)	2,981	3,183	6,012	6,331
Contributions to benefit plans	$ 4,316	$ 4,426	$ 9,111	$ 9,124

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	12.10%	1.90%	19.80%	22.00%
Charge from valuation allowance for tax carryovers			$ 2	$ 4
Tax benefit from resolution of settlement	$ 3	$ 10	6	$ 14
Re-measurement of deferred tax assets			$ 9
Percent decrease in unrecognized benefits, reasonably possible (up to)	20.00%		20.00%

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			$ 188,561	$ (103,660)
Cumulative effect of accounting changes					$ (12,207)
Net income	$ 48,214	$ 48,901	101,727	114,034
Other comprehensive income (loss)	(38,256)	54,510	(18,078)	80,818
Dividends paid			(70,113)	(69,527)
Issuance of common stock			(3,126)	(4,823)
Conversion to common stock			0	0
Stock-based compensation expense			9,153	12,531
Balances, end of period	195,917	29,373	195,917	29,373
Preferred stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			1	1
Balances, end of period	1	1	1	1
Preference stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			441	483
Conversion to common stock			(26)	(20)
Balances, end of period	415	463	415	463
Common stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			323,338	323,338
Balances, end of period	323,338	323,338	323,338	323,338
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			138,367	148,125
Issuance of common stock			(24,267)	(28,567)
Conversion to common stock			(521)	(398)
Stock-based compensation expense			9,153	12,531
Balances, end of period	122,732	131,691	122,732	131,691
Retained earnings
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			5,229,584	5,107,734
Cumulative effect of accounting changes					$ (12,207)
Net income			101,727	114,034
Dividends paid			(70,113)	(69,527)
Balances, end of period	5,248,991	5,152,241	5,248,991	5,152,241
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			(792,173)	(940,133)
Other comprehensive income (loss)			(18,078)	80,818
Balances, end of period	(810,251)	(859,315)	(810,251)	(859,315)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			(4,710,997)	(4,743,208)
Issuance of common stock			21,141	23,744
Conversion to common stock			547	418
Balances, end of period	$ (4,689,309)	$ (4,719,046)	$ (4,689,309)	$ (4,719,046)

Accumulated Other Comprehensi73

Accumulated Other Comprehensive Income (Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total Revenue from sales and services (ASC 606)	$ 640,003		$ 1,293,790
Interest expense, net	(29,623)	$ (27,600)	(60,476)	$ (53,276)
Selling, general and administrative	(282,456)	(283,073)	(577,894)	(573,645)
Income from continuing operations before taxes	53,464	42,251	114,753	126,757
(Provision) benefit from income taxes	(6,458)	(790)	(22,721)	(27,872)
Net income	48,214	48,901	101,727	114,034
Reclassification out of Accumulated Other Comprehensive Loss | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total Revenue from sales and services (ASC 606)	79	34	76	6
Cost of sales	(1)	36	(85)	148
Interest expense, net	(507)	(507)	(1,014)	(1,014)
Income from continuing operations before taxes	(429)	(437)	(1,023)	(860)
(Provision) benefit from income taxes	110	170	261	336
Net income	(319)	(267)	(762)	(524)
Reclassification out of Accumulated Other Comprehensive Loss | Available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	214	(117)	190	(226)
(Provision) benefit from income taxes	(54)	44	(48)	84
Net income	160	(73)	142	(142)
Reclassification out of Accumulated Other Comprehensive Loss | Pension and postretirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income from continuing operations before taxes	(10,432)	(10,066)	(21,408)	(20,291)
(Provision) benefit from income taxes	2,564	3,442	5,368	6,956
Net income	(7,868)	(6,624)	(16,040)	(13,335)
Reclassification out of Accumulated Other Comprehensive Loss | Transition credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	2	2	3	4
Reclassification out of Accumulated Other Comprehensive Loss | Prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	(55)	(42)	(109)	(83)
Reclassification out of Accumulated Other Comprehensive Loss | Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	$ (10,379)	$ (10,026)	$ (21,302)	$ (20,212)

Accumulated Other Comprehensi74

Accumulated Other Comprehensive Income (Changes) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			$ 188,561	$ (103,660)
Other comprehensive income (loss) before reclassifications			(34,738)	66,817
Reclassifications into earnings			16,660	14,001
Other comprehensive (loss) income, net of tax	$ (38,256)	$ 54,510	(18,078)	80,818
Balances, end of period	195,917	29,373	195,917	29,373
Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			(406)	(1,485)
Other comprehensive income (loss) before reclassifications			(511)	(141)
Reclassifications into earnings			762	524
Other comprehensive (loss) income, net of tax			251	383
Balances, end of period	(155)	(1,102)	(155)	(1,102)
Available for sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			1,597	120
Other comprehensive income (loss) before reclassifications			(5,154)	1,734
Reclassifications into earnings			(142)	142
Other comprehensive (loss) income, net of tax			(5,296)	1,876
Balances, end of period	(3,699)	1,996	(3,699)	1,996
Pension and postretirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			(748,800)	(787,813)
Other comprehensive income (loss) before reclassifications			0	(1,482)
Reclassifications into earnings			16,040	13,335
Other comprehensive (loss) income, net of tax			16,040	11,853
Balances, end of period	(732,760)	(775,960)	(732,760)	(775,960)
Foreign currency adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			(44,564)	(150,955)
Other comprehensive income (loss) before reclassifications			(29,073)	66,706
Reclassifications into earnings			0	0
Other comprehensive (loss) income, net of tax			(29,073)	66,706
Balances, end of period	(73,637)	(84,249)	(73,637)	(84,249)
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			(792,173)	(940,133)
Other comprehensive (loss) income, net of tax			(18,078)	80,818
Balances, end of period	$ (810,251)	$ (859,315)	$ (810,251)	$ (859,315)