Pitney Bowes (PBI) 10-Q 3 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	PITNEY BOWES INC /DE/
Entity Central Index Key	0000078814
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		180,725,731

Condensed Consolidated Statemen

Condensed Consolidated Statements of (Loss) Income - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Revenue		$ 868,402	$ 896,583
Costs and expenses:
Financing interest expense		11,364	11,064
Selling, general and administrative		300,982	302,810
Research and development		21,774	24,495
Restructuring charges		3,598	904
Interest expense, net		27,602	32,014
Other components of net pension and postretirement cost		(638)	(1,719)
Other expense		17,710	0
Total costs and expenses		861,530	826,305
Income from continuing operations before taxes		6,872	70,278
Provision for income taxes		8,301	18,795
(Loss) income from continuing operations		(1,429)	51,483
(Loss) income from discontinued operations, net of tax		(1,230)	8,487
Net (loss) income		$ (2,659)	$ 59,970
Basic (loss) earnings per share:
Continuing operations (in dollars per share)	[1]	$ (0.01)	$ 0.28
Discontinued operations (in dollars per share)	[1]	(0.01)	0.05
Net (loss) income (in dollars per share)	[1]	(0.01)	0.32
Diluted (loss) earnings per share:
Continuing operations (in dollars per share)	[1]	(0.01)	0.27
Discontinued operations (in dollars per share)	[1]	(0.01)	0.05
Net (loss) income (in dollars per share)	[1]	$ (0.01)	$ 0.32
Equipment sales
Revenue		$ 89,787	$ 106,708
Total from contracts with customers		21,294	22,211
Costs and expenses:
Cost of products and sales		63,665	62,469
Supplies
Revenue		50,953	59,993
Total from contracts with customers		50,953	59,993
Costs and expenses:
Cost of products and sales		13,550	16,947
Software
Revenue		73,318	76,294
Total from contracts with customers		73,318	76,294
Costs and expenses:
Cost of products and sales		23,383	24,129
Rentals
Revenue		22,157	24,965
Total from contracts with customers		0	0
Costs and expenses:
Cost of products and sales		9,715	12,748
Financing
Revenue		97,043	100,349
Total from contracts with customers		0	0
Support services
Revenue		128,621	140,650
Total from contracts with customers		128,621	140,650
Costs and expenses:
Cost of products and sales		41,779	46,065
Business services
Revenue		406,523	387,624
Total from contracts with customers		406,523	387,624
Costs and expenses:
Cost of products and sales		$ 327,046	$ 294,379
[1]	The sum of the earnings per share amounts may not equal the totals due to rounding.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,659)	$ 59,970
Other comprehensive income, net of tax:
Foreign currency translation, net of tax of $(4,067) in 2019	21,274	15,211
Net unrealized gain on cash flow hedges, net of tax of $56 and $162, respectively	163	486
Net unrealized gain (loss) on investment securities, net of tax of $964 and $(1,366), respectively	2,816	(3,992)
Amortization of pension and postretirement costs, net of tax benefits of $2,649 and $2,803, respectively	6,636	8,172
Other comprehensive income, net of tax	30,889	19,877
Comprehensive income	$ 28,230	$ 79,847

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translations, tax expense (benefit)	$ (4,067)
Net unrealized gain (loss) on cash flow hedges, tax	56	$ 162
Net unrealized gain on investment securities, tax	964	(1,366)
Amortization of pension and postretirement costs, tax	$ 2,649	$ 2,803

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 838,905	$ 867,262
Short-term investments	65,405	59,391
Accounts receivable (net of allowance of $21,029 and $17,617, respectively)	412,661	456,138
Short-term finance receivables (net of allowance of $13,633 and $12,454, respectively)	684,436	758,511
Inventories	68,876	62,279
Current income taxes	21,897	5,947
Other current assets and prepayments	134,929	100,625
Assets of discontinued operations	0	4,854
Total current assets	2,227,109	2,315,007
Property, plant and equipment, net	412,727	410,114
Rental property and equipment, net	41,862	46,228
Long-term finance receivables (net of allowance of $8,518 and $7,768 respectively)	545,360	536,369
Goodwill	1,754,259	1,766,511
Intangible assets, net	223,005	227,137
Operating lease assets	152,139	156,788
Noncurrent income taxes	61,700	66,326
Other assets	388,104	419,677
Total assets	5,806,265	5,944,157
Current liabilities:
Accounts payable and accrued liabilities	1,313,440	1,390,362
Current operating lease liabilities	35,219	37,208
Current portion of long-term debt	207,231	199,535
Advance billings	213,171	235,116
Current income taxes	5,697	15,284
Liabilities of discontinued operations	0	3,276
Total current liabilities	1,774,758	1,880,781
Deferred taxes on income	257,639	254,353
Tax uncertainties and other income tax liabilities	51,950	39,548
Noncurrent operating lease liabilities	124,873	127,237
Long-term debt	3,047,661	3,066,073
Other noncurrent liabilities	463,028	474,323
Total liabilities	5,719,909	5,842,315
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	388	396
Common stock, $1 par value (480,000,000 shares authorized; 323,337,912 shares issued)	323,338	323,338
Additional paid-in capital	109,166	121,475
Retained earnings	5,267,615	5,279,682
Accumulated other comprehensive loss	(918,072)	(948,961)
Treasury stock, at cost (140,812,458 and 135,662,830 shares, respectively)	(4,696,080)	(4,674,089)
Total stockholders’ equity	86,356	101,842
Total liabilities and stockholders’ equity	$ 5,806,265	$ 5,944,157

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2017	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 21,029		$ 17,617
Short-term finance receivables allowance	13,633		12,454
Long-term finance receivables allowance	$ 8,518		$ 7,768
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)	140,812,458		135,662,830

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (2,659)	$ 59,970
Loss (income) from discontinued operations, net of tax	1,230	(8,487)
Restructuring payments	(8,144)	(15,585)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,365	39,738
Stock-based compensation	6,784	3,273
Expenses, net	3,598	904
Loss on disposition of businesses	17,710	0
Changes in operating assets and liabilities, net of acquisitions/divestitures:
Decrease in accounts receivable	59,571	29,292
Decrease in finance receivables	55,215	33,780
(Increase) decrease in inventories	(6,232)	1,783
Increase in other current assets and prepayments	(36,226)	(11,963)
Decrease in accounts payable and accrued liabilities	(37,260)	(74,805)
(Decrease) increase in current and non-current income taxes	(2,398)	15,859
Decrease in advance billings	(16,219)	(17,832)
Other, net	(993)	(11,154)
Net cash provided by operating activities - continuing operations	73,342	44,773
Net cash (used in) provided by operating activities - discontinued operations	(3,614)	24,856
Net cash provided by operating activities	69,728	69,629
Cash flows from investing activities:
Purchases of available-for-sale securities	0	(29,922)
Proceeds from sales/maturities of available-for-sale securities	31,404	15,044
Net activity from short-term and other investments	(1,778)	16,562
Capital expenditures	(28,754)	(29,017)
Acquisitions, net of cash acquired	(4,882)	(2,407)
Change in reserve account deposits	(23,036)	6,654
Other investing activities	(7,841)	(1,250)
Net cash used in investing activities - continuing operations	(34,887)	(24,336)
Net cash used in investing activities - discontinued operations	0	(863)
Net cash used in investing activities - continuing operations	(34,887)	(25,199)
Cash flows from financing activities:
Principal payments of long-term debt	(12,541)	(255,045)
Dividends paid to stockholders	(9,408)	(35,016)
Common stock repurchases	(39,142)	0
Other financing activities	(2,901)	(50,256)
Net cash used in financing activities	(63,992)	(340,317)
Effect of exchange rate changes on cash and cash equivalents	794	6,741
Change in cash and cash equivalents	(28,357)	(289,146)
Cash and cash equivalents at beginning of period	867,262	1,009,021
Cash and cash equivalents at end of period	838,905	719,875
Cash interest paid	33,393	46,998
Cash income tax payments, net of refunds	$ 10,071	$ 4,560

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Pitney Bowes Inc. (we, us, our, or the company) is a global technology company providing innovative products and commerce solutions that power billions of transactions and help our clients navigate the complex world of commerce. We offer shipping, mailing, fulfillment, returns and cross-border ecommerce products and solutions that enable the sending of parcels and packages across the globe and customer information management, location intelligence and customer engagement products and solutions to help our clients market to their customers. Clients around the world rely on our products, solutions and services. Pitney Bowes Inc. was incorporated in the state of Delaware in 1920. For more information about us, our products, services and solutions, visit www.pb.com . Basis of Presentation 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, 2018 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, 2019 . 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, 2018 ( 2018 Annual Report). The accompanying financial statements reflect the adoption of the new lease accounting standard as of January 1, 2017 (see New Accounting Pronouncements). We also determined that based on their nature, certain costs previously classified as research and development and cost of business services should be classified in other line items within costs and expenses. Accordingly, we revised our March 31, 2018 income statement to correct the classification by reducing research and development expense by $6 million and cost of business services by $3 million and increasing cost of equipment sales by $3 million and selling, general and administrative expense by $6 million . Additionally, our March 31, 2018 income statement has also been revised to correct the classification of certain costs of revenue by reducing cost of equipment sales by $1 million and cost of rentals by $1 million , and increasing cost of support services by $2 million to conform to the current year presentation. In January 2019, we sold the direct operations and moved to a dealer model in six smaller markets within International Mailing (Market Exits). We recognized a pre-tax loss of $18 million in other expense. In July 2018, we sold our Document Messaging Technology production mail business and supporting software (the Production Mail Business). The Production Mail Business qualified as a discontinued operation and accordingly, the assets, liabilities and results of operations of the Production Mail Business are reported as discontinued operations (see Note 4). New Accounting Pronouncements Accounting Pronouncements Adopted on January 1, 2019 On January 1, 2019, we adopted Accounting Standards Codification (ASC) 842, Leases (ASC 842) , using the modified retrospective transition approach of applying the standard at the beginning of the earliest comparative period presented in the financial statements. Accordingly, prior period financial statements have been recast and required disclosures have been provided. We also recorded a cumulative effect adjustment as of January 1, 2017 to reduce retained earnings by $137 million . See Notes 7 and 15 for more information. From a lessor perspective, the standard simplifies the accounting for lease modifications and aligns accounting of lease contracts with revenue recognition guidance. We continue to classify leases as sales-type or operating, with the determination affecting both the pattern and classification of income recognition. There have been changes in the timing and classification of revenue related to contract modifications. Certain income and costs are now accelerated that were previously recognized over the life of the lease due to conclusions on lease and non-lease components. From a lessee perspective, the standard requires us to recognize right-of-use assets and lease liabilities for our real estate and equipment operating leases and to provide new disclosures about our leasing activities. We elected the short-term lease recognition exemption and did not recognize right-of-use assets or lease liabilities for leases with a term less than 12 months. We also elected the practical expedient to not separate lease and non-lease components for our lessee portfolio. Updates to significant accounting policies disclosed in our 2018 Annual Report due to the adoption of ASC 842 are discussed below. Equipment Sales: We sell and lease equipment directly to our customers and to distributors (re-sellers) throughout the world. The amount of revenue allocated to the equipment is based on a range of observable selling prices in standalone transactions. We recognize revenue from the sale of equipment under sales-type leases as equipment sales revenue when control of the equipment transfers to the customer, which is upon shipment for self-installed products and upon installation or customer acceptance for other products. We do not typically offer any rights of return. Rentals: Rentals revenue includes revenue from mailing equipment that does not meet the criteria to be accounted for as a sales-type lease. We may invoice in advance for rentals according to the terms of the agreement. We initially defer these advanced billings and recognize rentals revenue on a straight-line basis over the rental period. Revenue generated from financing clients for the continued use of equipment subsequent to the expiration of the original lease are recognized as rentals revenue. Financing: We provide lease financing for our products primarily through sales-type leases. We also provide revolving lines of credit for the purchase of postage and supplies. We believe that our sales-type lease portfolio contains only normal collection risk. Accordingly, we record the fair value of equipment as sales revenue, the cost of equipment as cost of sales and the minimum lease payments plus the estimated residual value as finance receivables. The difference between the finance receivable and the equipment fair value is recorded as unearned income and is amortized as financing income over the lease term using the interest method. Financing also includes amounts related to sales-type leases that customers have extended or renewed for an additional term. Revenue for those contracts will be recognized over the term of the modified lease as financing income using the interest method. Equipment residual values are determined at inception of the lease using estimates of fair value at the end of the lease term. Fair value estimates are based primarily on historical experience. We also consider forecasted supply and demand for products, product retirement and launch plans, client behavior, regulatory changes, remanufacturing strategies, used equipment markets, competition and technological changes. We evaluate residual values on an annual basis or sooner if circumstances warrant. Declines in estimated residual values considered "other-than-temporary" are recognized immediately. Estimated increases in future residual values are not recognized until the equipment is remarketed. Support services: Support services revenue includes revenue from equipment service contracts, subscriptions and meter services. Revenue is allocated to these services using selling prices charged in standalone replacement and renewal transactions. Since we have a stand-ready obligation to provide these services over the entire contract term, revenue related to these agreements is recognized on a straight-line basis over the term of the agreement. Business services: Business services revenue includes revenue from mail processing services and ecommerce solutions. These services represent a series of distinct services that are similar in nature, and revenue is recognized as the services are provided. We review certain third party relationships and evaluate the appropriateness of recording revenue on a gross basis when we act as a principal in a transaction or net basis when we act as an agent between a client and vendor. We consider several factors in determining whether we are acting as principal or agent such as whether we are the primary obligor to the client, have control over the pricing or have inventory risk. On January 1, 2019, we also adopted Accounting Standards Update (ASU) 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities , which 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 adoption of this standard did not have a material impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other-Internal-Use Software . The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective beginning January 1, 2020, with early adoption permitted. We are currently assessing 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 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.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregated Revenue The following tables disaggregate our revenue by major source and timing of recognition: Three Months Ended March 31, 2019 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue recognized under ASC 606 Revenue from leasing transactions and financing Total Consolidated Revenue Major products/service lines Equipment sales $ — $ — $ 9,215 $ 12,079 $ — $ 21,294 $ 68,493 $ 89,787 Supplies — — 35,103 15,850 — 50,953 — 50,953 Software — — — — 73,318 73,318 — 73,318 Rentals — — — — — — 22,157 22,157 Financing — — — — — — 97,043 97,043 Support services — 22 107,709 20,890 — 128,621 — 128,621 Business services 266,254 134,825 4,517 927 — 406,523 — 406,523 Subtotal 266,254 134,847 156,544 49,746 73,318 680,709 $ 187,693 $ 868,402 Revenue from leasing transactions and financing Equipment sales — — 57,894 10,599 — 68,493 Rentals — — 17,279 4,878 — 22,157 Financing — — 83,757 13,286 — 97,043 Total revenue $ 266,254 $ 134,847 $ 315,474 $ 78,509 $ 73,318 $ 868,402 Timing of revenue recognition under ASC 606 Products/services transferred at a point in time $ — $ — $ 44,318 $ 27,930 $ 20,970 $ 93,218 Products/services transferred over time 266,254 134,847 112,226 21,816 52,348 587,491 Total $ 266,254 $ 134,847 $ 156,544 $ 49,746 $ 73,318 $ 680,709 Three Months Ended March 31, 2018 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue recognized under ASC 606 Revenue from leasing transactions and financing Total Consolidated Revenue Major products/service lines Equipment sales $ — $ — $ 10,416 $ 11,795 $ — $ 22,211 $ 84,497 $ 106,708 Supplies — — 38,951 21,042 — 59,993 — 59,993 Software — — — — 76,294 76,294 — 76,294 Rentals — — — — — — 24,965 24,965 Financing — — — — — — 100,349 100,349 Support services — — 113,713 26,937 — 140,650 — 140,650 Business services 246,590 134,458 4,889 1,687 — 387,624 — 387,624 Subtotal 246,590 134,458 167,969 61,461 76,294 686,772 $ 209,811 $ 896,583 Revenue from leasing transactions and financing Equipment sales — — 68,472 16,025 — 84,497 Rentals — — 19,512 5,453 — 24,965 Financing — — 84,858 15,491 — 100,349 Total revenue $ 246,590 $ 134,458 $ 340,811 $ 98,430 $ 76,294 $ 896,583 Timing of revenue recognition under ASC 606 Products/services transferred at a point in time $ — $ — $ 49,367 $ 32,836 $ 25,001 $ 107,204 Products/services transferred over time 246,590 134,458 118,602 28,625 51,293 579,568 Total $ 246,590 $ 134,458 $ 167,969 $ 61,461 $ 76,294 $ 686,772 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 the rental of mailing equipment under an operating lease contract. Support services: Performance obligations include providing maintenance, professional services, and subscription and meter services for our mailing equipment. Contract terms range from one year to five years, depending on the term of the lease contract for the related equipment. Revenue for maintenance, subscription and meter services is recognized ratably over the contract period and revenue for professional services is recognized when services are provided. Business services : Our performance obligations include providing mail processing services and ecommerce solutions. Revenue is recognized over time as the services are provided. The contract terms for these services vary, with the initial contracts in the range of one to five years, followed by annual renewal periods. Revenue from leasing transactions and financing include revenue from equipment accounted for as sales-type leases, finance income and late fees that are not accounted for under ASU 2014-09, Revenues from Contracts with Customers (ASC 606). Contract Assets and Advance Billings from Contracts with Customers Balance sheet location March 31, 2019 December 31, 2018 Increase (decrease) Contracts assets, current Other current assets and prepayments $ 17,319 $ 16,115 $ 1,204 Contracts assets, noncurrent Other assets $ 11,385 $ 13,092 $ (1,707 ) Advance billings, current Advance billings $ 203,735 $ 221,527 $ (17,792 ) Advance billings, noncurrent Noncurrent liabilities $ 13,144 $ 12,778 $ 366 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. Contract assets decreased in the period as the invoicing of performance obligations previously satisfied exceeded the contract assets recognized during the period. 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 March 31, 2019 is primarily driven by revenues recognized during the period, which includes $80 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: Remainder of 2019 2020 2021-2024 Total North America Mailing (1) $ 196,642 $ 214,546 $ 288,869 $ 700,057 International Mailing (1) 23,105 19,664 21,651 64,420 Software Solutions (2) 55,521 49,884 26,118 131,523 Total $ 275,268 $ 284,094 $ 336,638 $ 896,000 (1) Revenue streams bundled with our leasing contracts, primarily maintenance, meter services and other subscription 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	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The principal products and services of each reportable segment 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 and fulfillment, delivery and return services. Presort Services : Includes revenue and related expenses from sortation services that allow clients to qualify large volumes of First Class Mail, Marketing Mail and Bound and Packet Mail (Standard Flats and Bound Printed Matter) for postal worksharing discounts. Small & Medium Business (SMB) Solutions: North America Mailing : Includes the revenue and related expenses from mailing and shipping solutions, financing, services, supplies and other applications for small and medium businesses to efficiently create 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 shipping solutions, financing, services and supplies for small and medium businesses to efficiently create 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, location intelligence software, data solutions and related support services. Management uses segment earnings before interest and taxes (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 business. We determine segment 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 not allocated to a particular business segment. 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 and reconciliation of segment EBIT to net income. Revenue and EBIT by business segment is presented below: Revenue Three Months Ended March 31, 2019 2018 Global Ecommerce $ 266,254 $ 246,590 Presort Services 134,847 134,458 Commerce Services 401,101 381,048 North America Mailing 315,474 340,811 International Mailing 78,509 98,430 SMB Solutions 393,983 439,241 Software Solutions 73,318 76,294 Total revenue $ 868,402 $ 896,583 EBIT Three Months Ended March 31, 2019 2018 Global Ecommerce $ (14,600 ) $ (7,711 ) Presort Services 15,066 27,026 Commerce Services 466 19,315 North America Mailing 110,613 128,568 International Mailing 11,790 16,022 SMB Solutions 122,403 144,590 Software Solutions 1,692 2,492 Total segment EBIT 124,561 166,397 Reconciling items: Interest, net (38,966 ) (43,078 ) Unallocated corporate expenses (55,689 ) (51,082 ) Restructuring charges (3,598 ) (904 ) Other expense (17,710 ) — Transaction costs (1,726 ) (1,055 ) Income from continuing operations before income taxes 6,872 70,278 Provision for income taxes 8,301 18,795 (Loss) income from discontinued operations, net of tax (1,230 ) 8,487 Net (loss) income $ (2,659 ) $ 59,970

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Selected financial information included in discontinued operations is as follows: Three Months Ended March 31, 2019 2018 Revenue $ 750 $ 102,234 (Loss) earnings from discontinued operations $ (663 ) $ 11,803 Loss on sale (667 ) — (Loss) income from discontinued operations before taxes (1,330 ) 11,803 Tax (benefit) provision (100 ) 3,316 (Loss) income from discontinued operations $ (1,230 ) $ 8,487

Earnings per Share (EPS)

Earnings per Share (EPS)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings per Share (EPS)	Earnings per Share (EPS) Three Months Ended March 31, 2019 2018 Numerator: (Loss) income from continuing operations $ (1,429 ) $ 51,483 (Loss) income from discontinued operations, net of tax (1,230 ) 8,487 Net (loss) income (numerator for diluted EPS) (2,659 ) 59,970 Less: Preference stock dividend 8 8 (Loss) income attributable to common stockholders (numerator for basic EPS) $ (2,667 ) $ 59,962 Denominator: Weighted-average shares used in basic EPS 185,971 186,863 Dilutive effect of common stock equivalents (1) — 1,312 Weighted-average shares used in diluted EPS 185,971 188,175 Basic (loss) earnings per share (2) : Continuing operations $ (0.01 ) $ 0.28 Discontinued operations (0.01 ) 0.05 Net (loss) income $ (0.01 ) $ 0.32 Diluted (loss) earnings per share (2) : Continuing operations $ (0.01 ) $ 0.27 Discontinued operations (0.01 ) 0.05 Net (loss) income $ (0.01 ) $ 0.32 Anti-dilutive options excluded from diluted earnings per share: 14,989 11,636 (1) Dilutive effect of common stock equivalents are not included in the calculation of diluted earnings per share for the three months ended March 31, 2019 as the Company is reporting a net loss for the period. (2) The sum of the earnings per share amounts may not equal the totals due to rounding.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 consisted of the following: March 31, December 31, Raw materials $ 13,258 $ 8,231 Supplies and service parts 23,627 21,841 Finished products 36,474 36,690 Inventory at FIFO cost 73,359 66,762 Excess of FIFO cost over LIFO cost (4,483 ) (4,483 ) Total inventory, net $ 68,876 $ 62,279

Finance Assets and Lessor Opera

Finance Assets and Lessor Operating Leases	3 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Finance Assets and Lessor Operating Leases	Finance Assets and Lessor Operating Leases Finance Assets 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 March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 December 31, 2018 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 1,099,620 $ 190,468 $ 1,290,088 $ 1,110,896 $ 247,774 $ 1,358,670 Unguaranteed residual values 48,204 11,671 59,875 52,637 12,772 65,409 Unearned income (370,344 ) (43,966 ) (414,310 ) (383,453 ) (55,113 ) (438,566 ) Allowance for credit losses (13,136 ) (1,884 ) (15,020 ) (10,252 ) (2,356 ) (12,608 ) Net investment in sales-type lease receivables 764,344 156,289 920,633 769,828 203,077 972,905 Loan receivables Loan receivables 286,716 29,578 316,294 300,319 29,270 329,589 Allowance for credit losses (6,399 ) (732 ) (7,131 ) (6,777 ) (837 ) (7,614 ) Net investment in loan receivables 280,317 28,846 309,163 293,542 28,433 321,975 Net investment in finance receivables $ 1,044,661 $ 185,135 $ 1,229,796 $ 1,063,370 $ 231,510 $ 1,294,880 Loans receivable are due within one year. Maturities of gross sales-type lease finance receivables at March 31, 2019 were as follows: Sales-type Lease Receivables North America International Total Remaining for year ending December 31, 2019 $ 486,499 $ 52,782 $ 539,281 Year ending December 31, 2020 275,321 56,077 331,398 Year ending December 31, 2021 186,002 41,078 227,080 Year ending December 31, 2022 106,014 26,276 132,290 Year ending December 31, 2023 42,879 12,511 55,390 Thereafter 2,905 1,744 4,649 Total $ 1,099,620 $ 190,468 $ 1,290,088 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 three months ended March 31, 2019 and 2018 was as follows: Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2019 $ 10,253 $ 2,355 $ 6,777 $ 837 $ 20,222 Amounts charged to expense 3,399 231 957 20 4,607 Write-offs and other (516 ) (702 ) (1,335 ) (125 ) (2,678 ) Balance at March 31, 2019 $ 13,136 $ 1,884 $ 6,399 $ 732 $ 22,151 Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2018 $ 7,721 $ 2,812 $ 7,098 $ 1,020 $ 18,651 Amounts charged to expense 2,186 399 1,925 140 4,650 Write-offs and other (1,145 ) (127 ) (2,073 ) (176 ) (3,521 ) Balance at March 31, 2018 $ 8,762 $ 3,084 $ 6,950 $ 984 $ 19,780 Aging of Receivables The aging of gross finance receivables at March 31, 2019 and December 31, 2018 was as follows: March 31, 2019 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 1,065,521 $ 186,947 $ 280,124 $ 29,302 $ 1,561,894 > 90 days 34,099 3,521 6,592 276 44,488 Total $ 1,099,620 $ 190,468 $ 286,716 $ 29,578 $ 1,606,382 Past due amounts > 90 days Still accruing interest $ 6,709 $ 715 $ 2,178 $ 128 $ 9,730 Not accruing interest 27,390 2,806 4,414 148 34,758 Total $ 34,099 $ 3,521 $ 6,592 $ 276 $ 44,488 December 31, 2018 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 1,069,288 $ 243,852 $ 294,126 $ 29,079 $ 1,636,345 > 90 days 41,608 3,922 6,193 191 51,914 Total $ 1,110,896 $ 247,774 $ 300,319 $ 29,270 $ 1,688,259 Past due amounts > 90 days Still accruing interest $ 7,917 $ 1,111 $ 1,769 $ 72 $ 10,869 Not accruing interest 33,691 2,811 4,424 119 41,045 Total $ 41,608 $ 3,922 $ 6,193 $ 191 $ 51,914 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 March 31, 2019 and December 31, 2018 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. March 31, December 31, Sales-type lease receivables Low $ 909,353 $ 922,414 Medium 131,425 131,650 High 23,478 22,110 Not Scored 35,364 34,722 Total $ 1,099,620 $ 1,110,896 Loan receivables Low $ 224,517 $ 238,620 Medium 45,167 43,952 High 5,429 5,947 Not Scored 11,603 11,800 Total $ 286,716 $ 300,319 Lease income Lease income from sales-type leases for the three months ended March 31, 2019 and 2018 was as follows: Three Months Ended March 31, 2019 2018 Profit recognized at commencement (1) $ 36,360 $ 47,294 Interest income 59,478 61,832 Total lease income from sales-type leases $ 95,838 $ 109,126 (1) Lease contracts do not include variable lease payments. Lessor Operating Leases We also lease mailing equipment under operating leases with terms of 1 to 5 years. Maturities of these operating leases are as follows: Remaining for year ending December 31, 2019 $ 26,317 Year ending December 31, 2020 25,322 Year ending December 31, 2021 9,881 Year ending December 31, 2022 4,023 Year ending December 31, 2023 2,590 Thereafter 59 Total $ 68,192

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Intangible assets at March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 484,543 $ (286,393 ) $ 198,150 $ 480,837 $ (281,190 ) $ 199,647 Software & technology 164,973 (145,518 ) 19,455 165,088 (143,877 ) 21,211 Trademarks & other 40,104 (34,704 ) 5,400 40,170 (33,891 ) 6,279 Total intangible assets $ 689,620 $ (466,615 ) $ 223,005 $ 686,095 $ (458,958 ) $ 227,137 Amortization expense was $10 million and $11 million for the three months ended March 31, 2019 and 2018 , respectively. Future amortization expense as of March 31, 2019 is shown in the table below. Actual amortization expense may differ due to, among other things, fluctuations in foreign currency exchange rates, impairments, acquisitions and accelerated amortization. Remaining for year ending December 31, 2019 $ 30,303 Year ending December 31, 2020 35,564 Year ending December 31, 2021 31,026 Year ending December 31, 2022 29,798 Year ending December 31, 2023 26,726 Thereafter 69,588 Total $ 223,005 Goodwill Changes in the carrying value of goodwill, by reporting segment, for the three months ended March 31, 2019 are shown in the table below. December 31, 2018 Divestiture Currency impact March 31, Global Ecommerce $ 609,431 $ — $ — $ 609,431 Presort Services 207,465 — — 207,465 Commerce Services 816,896 — — 816,896 North America Mailing 368,248 — 167 368,415 International Mailing 147,207 (10,490 ) (3,573 ) 133,144 Small & Medium Business Solutions 515,455 (10,490 ) (3,406 ) 501,559 Software Solutions 434,160 — 1,644 435,804 Total goodwill $ 1,766,511 $ (10,490 ) $ (1,762 ) $ 1,754,259 In January 2019, we wrote off $10 million of goodwill associated with Market Exits.

Fair Value Measurements and Der

Fair Value Measurements and Derivative Instruments	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 . March 31, 2019 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 225,808 $ 398,019 $ — $ 623,827 Equity securities — 21,663 — 21,663 Commingled fixed income securities 1,600 20,655 — 22,255 Government and related securities 85,390 9,132 — 94,522 Corporate debt securities — 51,677 — 51,677 Mortgage-backed / asset-backed securities — 89,618 — 89,618 Derivatives Foreign exchange contracts — 1,610 — 1,610 Total assets $ 312,798 $ 592,374 $ — $ 905,172 Liabilities: Derivatives Foreign exchange contracts $ — $ (3,430 ) $ — $ (3,430 ) Total liabilities $ — $ (3,430 ) $ — $ (3,430 ) December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 220,756 $ 391,891 $ — $ 612,647 Equity securities — 19,133 — 19,133 Commingled fixed income securities 1,570 20,141 — 21,711 Government and related securities 98,790 9,787 — 108,577 Corporate debt securities — 56,938 — 56,938 Mortgage-backed / asset-backed securities — 98,334 — 98,334 Derivatives Foreign exchange contracts — 2,031 — 2,031 Total assets $ 321,116 $ 598,255 $ — $ 919,371 Liabilities: Derivatives Foreign exchange contracts $ — $ (735 ) $ — $ (735 ) Total liabilities $ — $ (735 ) $ — $ (735 ) 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: Equity securities are comprised of mutual funds investing in U.S. and foreign stocks. These mutual funds are classified as Level 2. • Commingled Fixed Income Securities: Commingled fixed income securities are 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 accumulated other comprehensive income (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 March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 94,831 $ 221 $ (575 ) $ 94,477 Corporate debt securities 51,769 329 (421 ) 51,677 Commingled fixed income securities 1,647 — (47 ) 1,600 Mortgage-backed / asset-backed securities 90,486 335 (1,203 ) 89,618 Total $ 238,733 $ 885 $ (2,246 ) $ 237,372 December 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 109,776 $ 47 $ (1,336 ) $ 108,487 Corporate debt securities 58,714 4 (1,780 ) 56,938 Commingled fixed income securities 1,637 — (67 ) 1,570 Mortgage-backed / asset-backed securities 100,186 167 (2,019 ) 98,334 Total $ 270,313 $ 218 $ (5,202 ) $ 265,329 The aggregate unrealized holding losses of investment securities in a loss position at March 31, 2019 and December 31, 2018 were as follows: March 31, 2019 December 31, 2018 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Less than 12 continuous months $ 8,518 $ 46 $ 48,318 $ 847 Greater than 12 continuous months 133,732 2,200 177,331 4,355 Total $ 142,250 $ 2,246 $ 225,649 $ 5,202 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 March 31, 2019 were as follows: Amortized cost Estimated fair value Within 1 year $ 54,475 $ 54,348 After 1 year through 5 years 74,200 73,898 After 5 years through 10 years 37,291 37,393 After 10 years 72,767 71,733 Total $ 238,733 $ 237,372 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 March 31, 2019 and December 31, 2018 , we had outstanding contracts associated with these anticipated transactions with notional amounts of $9 million and $8 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 in the three months ended March 31, 2019. Interest Rate Swap We had 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. This swap matured in September 2018. While outstanding, the swap was designated as a cash flow hedge and the effective portion of the gain or loss on the cash flow hedge was included in AOCI in the period that the change in fair value occurred and reclassified to earnings in the period that the hedged item was recorded in earnings. The fair value of derivative instruments at March 31, 2019 and December 31, 2018 was as follows: Designation of Derivatives Balance Sheet Location March 31, December 31, Derivatives designated as hedging instruments Foreign exchange contracts Other current assets and prepayments $ 175 $ 61 Accounts payable and accrued liabilities — (104 ) Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets and prepayments 1,435 1,970 Accounts payable and accrued liabilities (3,430 ) (631 ) Total derivative assets $ 1,610 $ 2,031 Total derivative liabilities (3,430 ) (735 ) Total net derivative (liability) asset $ (1,820 ) $ 1,296 The majority of the amounts included in AOCI at March 31, 2019 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 months ended March 31, 2019 and 2018 : Three Months Ended March 31, 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 2019 2018 2019 2018 Foreign exchange contracts $ 345 $ 35 Revenue $ 111 $ (3 ) Cost of sales 16 (84 ) Interest rate swap — (181 ) Interest Expense — — $ 345 $ (146 ) $ 127 $ (87 ) 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 months ended March 31, 2019 and 2018 . All outstanding contracts at March 31, 2019 mature within 12 months. Three Months Ended March 31, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2019 2018 Foreign exchange contracts Selling, general and administrative expense $ 5,269 $ (4,713 ) 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 March 31, 2019 , we had no cash collateral posted with certain counterparties. 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 March 31, 2019 and December 31, 2018 were as follows: March 31, 2019 December 31, 2018 Carrying value $ 3,254,892 $ 3,265,608 Fair value $ 3,152,589 $ 3,003,678

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges Activity in our restructuring reserves for the three months ended March 31, 2019 and 2018 was as follows: Severance and benefits costs Other exit costs Total Balance at January 1, 2019 $ 13,641 $ 1,808 $ 15,449 Expenses, net 3,330 268 3,598 Cash payments (7,191 ) (953 ) (8,144 ) Balance at March 31, 2019 $ 9,780 $ 1,123 $ 10,903 Balance at January 1, 2018 $ 42,151 $ 1,569 $ 43,720 Expenses, net 835 69 904 Cash payments (15,008 ) (577 ) (15,585 ) Balance at March 31, 2018 $ 27,978 $ 1,061 $ 29,039 The majority of the remaining restructuring reserves are expected to be paid over the next 12 to 24 months.

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt Total debt at March 31, 2019 and December 31, 2018 consisted of the following: Interest rate March 31, 2019 December 31, 2018 Notes due September 2020 3.875% $ 300,000 $ 300,000 Notes due October 2021 3.875% 600,000 600,000 Notes due May 2022 4.375% 400,000 400,000 Notes due April 2023 4.95% 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 617,500 630,000 Other debt 5,255 5,297 Principal amount 3,283,596 3,296,138 Less: unamortized costs, net 28,704 30,530 Total debt 3,254,892 3,265,608 Less: current portion long-term debt 207,231 199,535 Long-term debt $ 3,047,661 $ 3,066,073 On April 17, 2019, Moody's lowered our corporate credit rating from Ba1 to Ba2. Interest rates on certain notes are subject to adjustment based on changes in our credit ratings. As a result, the coupon rate on $1.7 billion principal amount of our notes will increase by 0.25% effective at the next interest payment date for each security. During the first quarter of 2019, we repaid $13 million of principal related to our term loans.

Pensions and Other Benefit Prog

Pensions and Other Benefit Programs	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Pensions and Other Benefit Programs	Pensions and Other Benefit Programs The components of net periodic benefit (income) cost were as follows: Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Three Months Ended Three Months Ended Three Months Ended March 31, March 31, March 31, 2019 2018 2019 2018 2019 2018 Service cost $ 21 $ 37 $ 384 $ 589 $ 255 $ 407 Interest cost 15,878 15,616 4,488 4,696 1,654 1,603 Expected return on plan assets (23,179 ) (25,424 ) (8,764 ) (9,185 ) — — Amortization of transition credit — — (2 ) (2 ) — — Amortization of prior service (credit) cost (15 ) (15 ) 63 (18 ) 80 88 Amortization of net actuarial loss 7,036 8,076 1,612 1,912 511 934 Net periodic benefit (income) cost $ (259 ) $ (1,710 ) $ (2,219 ) $ (2,008 ) $ 2,500 $ 3,032 Contributions to benefit plans $ 1,628 $ 1,409 $ 8,210 $ 9,210 $ 4,756 $ 4,795

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three months ended March 31, 2019 and 2018 was 120.8% and 26.7% , respectively. The effective tax rate for the three months ended March 31, 2019 includes a $2 million tax on the $18 million book loss from Market Exits resulting primarily from nondeductible currency write offs and basis differences. The effective tax rate for the three months ended March 31, 2019 and 2018 also includes a $2 million charge 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, as well as a $2 million and $3 million benefit, respectively, from the resolution of certain tax examinations. 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 30% of our unrecognized tax benefits. The Internal Revenue Service (IRS) examinations of our consolidated U.S. income tax returns for tax years prior to 2015 are closed to audit; however, various post-2011 U.S. state and local tax returns are still subject to examination. In Canada, the examination of our tax filings prior to 2014 are closed to audit. Other significant jurisdictions include France (closed through 2014), Germany (closed through 2012) and the U.K. (except for an item under appeal, closed through 2016). We also have other less significant tax filings currently subject to examination.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
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. In August 2018, the Company, certain of its directors, officers and several banks who served as underwriters, were named as defendants in City of Livonia Retiree Health and Disability Benefits Plan v. Pitney Bowes Inc. et al. , a putative class action lawsuit filed in Connecticut state court. The complaint asserts claims under the Securities Act of 1933, as amended, on behalf of those who purchased notes issued by the Company in connection with a September 13, 2017 offering, alleging, among other things, that the Company failed to make certain disclosures relating to components of its third quarter 2017 performance at the time of the notes offering. The complaint seeks compensatory damages and other relief. In addition, in December 2018 and then in February 2018, certain of the Company’s officers and directors were named as defendants in two virtually identical derivative actions purportedly brought on behalf of the Company, Clem v. Lautenbach et al. and Devolin v. Lautenbach et al. These two actions, both filed by the same counsel in Connecticut state court, allege, among other things, breaches of fiduciary duty relating to these same disclosures, and seek compensatory damages and other relief derivatively for the benefit of the Company. Although litigation outcomes are inherently unpredictable, we believe these matters are without merit and intend to defend them vigorously. A reasonable estimate of the amount of any possible loss or range of loss cannot be made at this time.

Leased Assets and Liabilities

Leased Assets and Liabilities	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leased Assets and Liabilities	Leased Assets and Liabilities We lease real estate and equipment under operating and finance lease agreements. Our leases have terms of up to 15 years, some of which may include the option to extend the lease for up to 5 years. Information regarding our operating and financing leases are as follows: Leases Balance Sheet Location March 31, 2019 December 31, 2018 Assets Operating Operating lease assets $ 152,139 $ 156,788 Finance Property, plant and equipment, net 11,536 10,683 Total leased assets $ 163,675 $ 167,471 Liabilities Operating Current operating lease liabilities $ 35,219 $ 37,208 Noncurrent operating lease liabilities 124,873 127,237 Finance Accounts payable and accrued liabilities 2,844 2,708 Other noncurrent liabilities 7,651 7,054 Total lease liabilities $ 170,587 $ 174,207 Three Months Ended March 31, Lease Cost 2019 2018 Operating lease expense $ 12,091 $ 12,277 Finance lease expense Amortization of leased assets 880 602 Interest on lease liabilities 172 118 Variable lease expense 5,864 5,142 Sublease income (666 ) (249 ) Total expense $ 18,341 $ 17,890 Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less. Future Lease Payments Operating Leases Finance Leases Total Remaining for year ending December 31, 2019 $ 32,088 $ 2,643 $ 34,731 Year ending December 31, 2020 35,873 2,935 38,808 Year ending December 31, 2021 28,825 2,543 31,368 Year ending December 31, 2022 20,484 1,992 22,476 Year ending December 31, 2023 14,086 1,348 15,434 Thereafter 57,329 569 57,898 Total 188,685 12,030 200,715 Less: present value discount 28,593 1,535 30,128 Lease liability $ 160,092 $ 10,495 $ 170,587 Operating leases exclude $2 million of minimum lease payments for leases signed but not yet commenced at March 31, 2019. Lease Term and Discount Rate March 31, 2019 December 31, 2018 Weighted-average remaining lease term Operating leases 7.1 years 5.9 years Finance leases 4.1 years 3.8 years Weighted-average discount rate Operating leases 4.7% 4.7% Finance leases 6.5% 6.2% Three Months Ended March 31, Cash Flow Information 2019 2018 Operating cash outflows - operating leases $ 11,797 $ 11,751 Operating cash outflows - finance leases $ 172 $ 118 Financing cash outflows - finance leases $ 745 $ 564 Leased assets obtained in exchange for new lease obligations Operating leases $ 8,153 $ 2,996 Finance leases $ 1,673 $ 1,072
Leased Assets and Liabilities	Leased Assets and Liabilities We lease real estate and equipment under operating and finance lease agreements. Our leases have terms of up to 15 years, some of which may include the option to extend the lease for up to 5 years. Information regarding our operating and financing leases are as follows: Leases Balance Sheet Location March 31, 2019 December 31, 2018 Assets Operating Operating lease assets $ 152,139 $ 156,788 Finance Property, plant and equipment, net 11,536 10,683 Total leased assets $ 163,675 $ 167,471 Liabilities Operating Current operating lease liabilities $ 35,219 $ 37,208 Noncurrent operating lease liabilities 124,873 127,237 Finance Accounts payable and accrued liabilities 2,844 2,708 Other noncurrent liabilities 7,651 7,054 Total lease liabilities $ 170,587 $ 174,207 Three Months Ended March 31, Lease Cost 2019 2018 Operating lease expense $ 12,091 $ 12,277 Finance lease expense Amortization of leased assets 880 602 Interest on lease liabilities 172 118 Variable lease expense 5,864 5,142 Sublease income (666 ) (249 ) Total expense $ 18,341 $ 17,890 Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less. Future Lease Payments Operating Leases Finance Leases Total Remaining for year ending December 31, 2019 $ 32,088 $ 2,643 $ 34,731 Year ending December 31, 2020 35,873 2,935 38,808 Year ending December 31, 2021 28,825 2,543 31,368 Year ending December 31, 2022 20,484 1,992 22,476 Year ending December 31, 2023 14,086 1,348 15,434 Thereafter 57,329 569 57,898 Total 188,685 12,030 200,715 Less: present value discount 28,593 1,535 30,128 Lease liability $ 160,092 $ 10,495 $ 170,587 Operating leases exclude $2 million of minimum lease payments for leases signed but not yet commenced at March 31, 2019. Lease Term and Discount Rate March 31, 2019 December 31, 2018 Weighted-average remaining lease term Operating leases 7.1 years 5.9 years Finance leases 4.1 years 3.8 years Weighted-average discount rate Operating leases 4.7% 4.7% Finance leases 6.5% 6.2% Three Months Ended March 31, Cash Flow Information 2019 2018 Operating cash outflows - operating leases $ 11,797 $ 11,751 Operating cash outflows - finance leases $ 172 $ 118 Financing cash outflows - finance leases $ 745 $ 564 Leased assets obtained in exchange for new lease obligations Operating leases $ 8,153 $ 2,996 Finance leases $ 1,673 $ 1,072

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Stockholders’ Equity	Stockholders’ Equity Changes in stockholders’ equity for the three months ended March 31, 2019 and 2018 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 January 1, 2019 $ 1 $ 396 $ 323,338 $ 121,475 $ 5,279,682 $ (948,961 ) $ (4,674,089 ) $ 101,842 Net loss — — — — (2,659 ) — — (2,659 ) Other comprehensive loss — — — — — 30,889 — 30,889 Dividends paid ($0.05 per common share) — — — — (9,408 ) — — (9,408 ) Issuance of common stock — — — (18,925 ) — — 16,975 (1,950 ) Conversion to common stock — (8 ) — (168 ) — — 176 — Stock-based compensation expense — — — 6,784 — — — 6,784 Repurchase of common stock — — — — — — (39,142 ) (39,142 ) Balance at March 31, 2019 $ 1 $ 388 $ 323,338 $ 109,166 $ 5,267,615 $ (918,072 ) $ (4,696,080 ) $ 86,356 Preferred stock Preference stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at January 1, 2018 $ 1 $ 441 $ 323,338 $ 138,367 $ 5,078,494 $ (794,478 ) $ (4,710,997 ) $ 35,166 Cumulative effect of accounting change — — — — (12,207 ) — — (12,207 ) Net income — — — — 59,970 — — 59,970 Other comprehensive loss — — — — — 19,877 — 19,877 Dividends paid ($0.1875 per common share) — — — — (35,016 ) — — (35,016 ) Issuance of common stock — — — (21,607 ) — — 18,198 (3,409 ) Conversion to common stock — (19 ) — (386 ) — — 405 — Stock-based compensation expense — — — 3,273 — — — 3,273 Balance at March 31, 2018 $ 1 $ 422 $ 323,338 $ 119,647 $ 5,091,241 $ (774,601 ) $ (4,692,394 ) $ 67,654

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Reclassifications out of AOCI for the three months ended March 31, 2019 and 2018 were as follows: Amount Reclassified from AOCI (1) Three Months Ended March 31, 2019 2018 Gains (losses) on cash flow hedges Revenue $ 111 $ (3 ) Cost of sales 16 (84 ) Interest expense, net — (507 ) Total before tax 127 (594 ) Income tax provision (benefit) 32 (151 ) Net of tax $ 95 $ (443 ) Losses on available for sale securities Interest expense, net $ (23 ) $ (24 ) Income tax benefit (6 ) (6 ) Net of tax $ (17 ) $ (18 ) Pension and Postretirement Benefit Plans (2) Transition credit $ 2 $ 2 Prior service costs (128 ) (55 ) Actuarial losses (9,159 ) (10,922 ) Total before tax (9,285 ) (10,975 ) Income tax benefit (2,649 ) (2,803 ) Net of tax $ (6,636 ) $ (8,172 ) (1) Amounts in parentheses indicate reductions to income and increases to other comprehensive income. (2) Reclassified from AOCI into other components of net pension and postretirement cost (see Note 12 for additional details). Changes in AOCI for the three months ended March 31, 2019 and 2018 were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2019 $ 191 $ (3,061 ) $ (846,461 ) $ (99,630 ) $ (948,961 ) Other comprehensive income before reclassifications (a) 258 2,799 — 21,274 24,331 Reclassifications into earnings (1), (2) (95 ) 17 6,636 — 6,558 Net other comprehensive income 163 2,816 6,636 21,274 30,889 Balance at March 31, 2019 $ 354 $ (245 ) $ (839,825 ) $ (78,356 ) $ (918,072 ) 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 ) $ (46,869 ) $ (794,478 ) Other comprehensive income (loss) before reclassifications (a) 43 (4,010 ) — 15,211 11,244 Reclassifications into earnings (1), (2) 443 18 8,172 — 8,633 Net other comprehensive income (loss) 486 (3,992 ) 8,172 15,211 19,877 Balance at March 31, 2018 $ 80 $ (2,395 ) $ (740,628 ) $ (31,658 ) $ (774,601 ) (1) Amounts are net of tax. Amounts in parentheses indicate debits to AOCI. (2) See table above for additional details of these reclassifications.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Pronouncements Adopted on January 1, 2019 On January 1, 2019, we adopted Accounting Standards Codification (ASC) 842, Leases (ASC 842) , using the modified retrospective transition approach of applying the standard at the beginning of the earliest comparative period presented in the financial statements. Accordingly, prior period financial statements have been recast and required disclosures have been provided. We also recorded a cumulative effect adjustment as of January 1, 2017 to reduce retained earnings by $137 million . See Notes 7 and 15 for more information. From a lessor perspective, the standard simplifies the accounting for lease modifications and aligns accounting of lease contracts with revenue recognition guidance. We continue to classify leases as sales-type or operating, with the determination affecting both the pattern and classification of income recognition. There have been changes in the timing and classification of revenue related to contract modifications. Certain income and costs are now accelerated that were previously recognized over the life of the lease due to conclusions on lease and non-lease components. From a lessee perspective, the standard requires us to recognize right-of-use assets and lease liabilities for our real estate and equipment operating leases and to provide new disclosures about our leasing activities. We elected the short-term lease recognition exemption and did not recognize right-of-use assets or lease liabilities for leases with a term less than 12 months. We also elected the practical expedient to not separate lease and non-lease components for our lessee portfolio. Updates to significant accounting policies disclosed in our 2018 Annual Report due to the adoption of ASC 842 are discussed below. Equipment Sales: We sell and lease equipment directly to our customers and to distributors (re-sellers) throughout the world. The amount of revenue allocated to the equipment is based on a range of observable selling prices in standalone transactions. We recognize revenue from the sale of equipment under sales-type leases as equipment sales revenue when control of the equipment transfers to the customer, which is upon shipment for self-installed products and upon installation or customer acceptance for other products. We do not typically offer any rights of return. Rentals: Rentals revenue includes revenue from mailing equipment that does not meet the criteria to be accounted for as a sales-type lease. We may invoice in advance for rentals according to the terms of the agreement. We initially defer these advanced billings and recognize rentals revenue on a straight-line basis over the rental period. Revenue generated from financing clients for the continued use of equipment subsequent to the expiration of the original lease are recognized as rentals revenue. Financing: We provide lease financing for our products primarily through sales-type leases. We also provide revolving lines of credit for the purchase of postage and supplies. We believe that our sales-type lease portfolio contains only normal collection risk. Accordingly, we record the fair value of equipment as sales revenue, the cost of equipment as cost of sales and the minimum lease payments plus the estimated residual value as finance receivables. The difference between the finance receivable and the equipment fair value is recorded as unearned income and is amortized as financing income over the lease term using the interest method. Financing also includes amounts related to sales-type leases that customers have extended or renewed for an additional term. Revenue for those contracts will be recognized over the term of the modified lease as financing income using the interest method. Equipment residual values are determined at inception of the lease using estimates of fair value at the end of the lease term. Fair value estimates are based primarily on historical experience. We also consider forecasted supply and demand for products, product retirement and launch plans, client behavior, regulatory changes, remanufacturing strategies, used equipment markets, competition and technological changes. We evaluate residual values on an annual basis or sooner if circumstances warrant. Declines in estimated residual values considered "other-than-temporary" are recognized immediately. Estimated increases in future residual values are not recognized until the equipment is remarketed. Support services: Support services revenue includes revenue from equipment service contracts, subscriptions and meter services. Revenue is allocated to these services using selling prices charged in standalone replacement and renewal transactions. Since we have a stand-ready obligation to provide these services over the entire contract term, revenue related to these agreements is recognized on a straight-line basis over the term of the agreement. Business services: Business services revenue includes revenue from mail processing services and ecommerce solutions. These services represent a series of distinct services that are similar in nature, and revenue is recognized as the services are provided. We review certain third party relationships and evaluate the appropriateness of recording revenue on a gross basis when we act as a principal in a transaction or net basis when we act as an agent between a client and vendor. We consider several factors in determining whether we are acting as principal or agent such as whether we are the primary obligor to the client, have control over the pricing or have inventory risk. On January 1, 2019, we also adopted Accounting Standards Update (ASU) 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities , which 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 adoption of this standard did not have a material impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other-Internal-Use Software . The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective beginning January 1, 2020, with early adoption permitted. We are currently assessing 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 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.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate our revenue by major source and timing of recognition: Three Months Ended March 31, 2019 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue recognized under ASC 606 Revenue from leasing transactions and financing Total Consolidated Revenue Major products/service lines Equipment sales $ — $ — $ 9,215 $ 12,079 $ — $ 21,294 $ 68,493 $ 89,787 Supplies — — 35,103 15,850 — 50,953 — 50,953 Software — — — — 73,318 73,318 — 73,318 Rentals — — — — — — 22,157 22,157 Financing — — — — — — 97,043 97,043 Support services — 22 107,709 20,890 — 128,621 — 128,621 Business services 266,254 134,825 4,517 927 — 406,523 — 406,523 Subtotal 266,254 134,847 156,544 49,746 73,318 680,709 $ 187,693 $ 868,402 Revenue from leasing transactions and financing Equipment sales — — 57,894 10,599 — 68,493 Rentals — — 17,279 4,878 — 22,157 Financing — — 83,757 13,286 — 97,043 Total revenue $ 266,254 $ 134,847 $ 315,474 $ 78,509 $ 73,318 $ 868,402 Timing of revenue recognition under ASC 606 Products/services transferred at a point in time $ — $ — $ 44,318 $ 27,930 $ 20,970 $ 93,218 Products/services transferred over time 266,254 134,847 112,226 21,816 52,348 587,491 Total $ 266,254 $ 134,847 $ 156,544 $ 49,746 $ 73,318 $ 680,709 Three Months Ended March 31, 2018 Global Ecommerce Presort Services North America Mailing International Mailing Software Solutions Total Revenue recognized under ASC 606 Revenue from leasing transactions and financing Total Consolidated Revenue Major products/service lines Equipment sales $ — $ — $ 10,416 $ 11,795 $ — $ 22,211 $ 84,497 $ 106,708 Supplies — — 38,951 21,042 — 59,993 — 59,993 Software — — — — 76,294 76,294 — 76,294 Rentals — — — — — — 24,965 24,965 Financing — — — — — — 100,349 100,349 Support services — — 113,713 26,937 — 140,650 — 140,650 Business services 246,590 134,458 4,889 1,687 — 387,624 — 387,624 Subtotal 246,590 134,458 167,969 61,461 76,294 686,772 $ 209,811 $ 896,583 Revenue from leasing transactions and financing Equipment sales — — 68,472 16,025 — 84,497 Rentals — — 19,512 5,453 — 24,965 Financing — — 84,858 15,491 — 100,349 Total revenue $ 246,590 $ 134,458 $ 340,811 $ 98,430 $ 76,294 $ 896,583 Timing of revenue recognition under ASC 606 Products/services transferred at a point in time $ — $ — $ 49,367 $ 32,836 $ 25,001 $ 107,204 Products/services transferred over time 246,590 134,458 118,602 28,625 51,293 579,568 Total $ 246,590 $ 134,458 $ 167,969 $ 61,461 $ 76,294 $ 686,772
Contract Assets and Advance Billings	Contract Assets and Advance Billings from Contracts with Customers Balance sheet location March 31, 2019 December 31, 2018 Increase (decrease) Contracts assets, current Other current assets and prepayments $ 17,319 $ 16,115 $ 1,204 Contracts assets, noncurrent Other assets $ 11,385 $ 13,092 $ (1,707 ) Advance billings, current Advance billings $ 203,735 $ 221,527 $ (17,792 ) Advance billings, noncurrent Noncurrent liabilities $ 13,144 $ 12,778 $ 366
Future Performance Obligations	The transaction prices allocated to future performance obligations will be recognized as follows: Remainder of 2019 2020 2021-2024 Total North America Mailing (1) $ 196,642 $ 214,546 $ 288,869 $ 700,057 International Mailing (1) 23,105 19,664 21,651 64,420 Software Solutions (2) 55,521 49,884 26,118 131,523 Total $ 275,268 $ 284,094 $ 336,638 $ 896,000 (1) Revenue streams bundled with our leasing contracts, primarily maintenance, meter services and other subscription services (2) Multiple-year software maintenance contracts, certain software and data licenses and data updates

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated Statements	Revenue and EBIT by business segment is presented below: Revenue Three Months Ended March 31, 2019 2018 Global Ecommerce $ 266,254 $ 246,590 Presort Services 134,847 134,458 Commerce Services 401,101 381,048 North America Mailing 315,474 340,811 International Mailing 78,509 98,430 SMB Solutions 393,983 439,241 Software Solutions 73,318 76,294 Total revenue $ 868,402 $ 896,583 EBIT Three Months Ended March 31, 2019 2018 Global Ecommerce $ (14,600 ) $ (7,711 ) Presort Services 15,066 27,026 Commerce Services 466 19,315 North America Mailing 110,613 128,568 International Mailing 11,790 16,022 SMB Solutions 122,403 144,590 Software Solutions 1,692 2,492 Total segment EBIT 124,561 166,397 Reconciling items: Interest, net (38,966 ) (43,078 ) Unallocated corporate expenses (55,689 ) (51,082 ) Restructuring charges (3,598 ) (904 ) Other expense (17,710 ) — Transaction costs (1,726 ) (1,055 ) Income from continuing operations before income taxes 6,872 70,278 Provision for income taxes 8,301 18,795 (Loss) income from discontinued operations, net of tax (1,230 ) 8,487 Net (loss) income $ (2,659 ) $ 59,970
Reconciliation of EBIT from Segments to Consolidated	EBIT Three Months Ended March 31, 2019 2018 Global Ecommerce $ (14,600 ) $ (7,711 ) Presort Services 15,066 27,026 Commerce Services 466 19,315 North America Mailing 110,613 128,568 International Mailing 11,790 16,022 SMB Solutions 122,403 144,590 Software Solutions 1,692 2,492 Total segment EBIT 124,561 166,397 Reconciling items: Interest, net (38,966 ) (43,078 ) Unallocated corporate expenses (55,689 ) (51,082 ) Restructuring charges (3,598 ) (904 ) Other expense (17,710 ) — Transaction costs (1,726 ) (1,055 ) Income from continuing operations before income taxes 6,872 70,278 Provision for income taxes 8,301 18,795 (Loss) income from discontinued operations, net of tax (1,230 ) 8,487 Net (loss) income $ (2,659 ) $ 59,970

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Financial information and Assets and Liabilities	Selected financial information included in discontinued operations is as follows: Three Months Ended March 31, 2019 2018 Revenue $ 750 $ 102,234 (Loss) earnings from discontinued operations $ (663 ) $ 11,803 Loss on sale (667 ) — (Loss) income from discontinued operations before taxes (1,330 ) 11,803 Tax (benefit) provision (100 ) 3,316 (Loss) income from discontinued operations $ (1,230 ) $ 8,487

Earnings per Share (EPS) (Table

Earnings per Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Three Months Ended March 31, 2019 2018 Numerator: (Loss) income from continuing operations $ (1,429 ) $ 51,483 (Loss) income from discontinued operations, net of tax (1,230 ) 8,487 Net (loss) income (numerator for diluted EPS) (2,659 ) 59,970 Less: Preference stock dividend 8 8 (Loss) income attributable to common stockholders (numerator for basic EPS) $ (2,667 ) $ 59,962 Denominator: Weighted-average shares used in basic EPS 185,971 186,863 Dilutive effect of common stock equivalents (1) — 1,312 Weighted-average shares used in diluted EPS 185,971 188,175 Basic (loss) earnings per share (2) : Continuing operations $ (0.01 ) $ 0.28 Discontinued operations (0.01 ) 0.05 Net (loss) income $ (0.01 ) $ 0.32 Diluted (loss) earnings per share (2) : Continuing operations $ (0.01 ) $ 0.27 Discontinued operations (0.01 ) 0.05 Net (loss) income $ (0.01 ) $ 0.32 Anti-dilutive options excluded from diluted earnings per share: 14,989 11,636 (1) Dilutive effect of common stock equivalents are not included in the calculation of diluted earnings per share for the three months ended March 31, 2019 as the Company is reporting a net loss for the period. (2) The sum of the earnings per share amounts may not equal the totals due to rounding.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory Components	Inventories at March 31, 2019 and December 31, 2018 consisted of the following: March 31, December 31, Raw materials $ 13,258 $ 8,231 Supplies and service parts 23,627 21,841 Finished products 36,474 36,690 Inventory at FIFO cost 73,359 66,762 Excess of FIFO cost over LIFO cost (4,483 ) (4,483 ) Total inventory, net $ 68,876 $ 62,279

Finance Assets and Lessor Ope_2

Finance Assets and Lessor Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Financing Receivables	Finance receivables at March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 December 31, 2018 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 1,099,620 $ 190,468 $ 1,290,088 $ 1,110,896 $ 247,774 $ 1,358,670 Unguaranteed residual values 48,204 11,671 59,875 52,637 12,772 65,409 Unearned income (370,344 ) (43,966 ) (414,310 ) (383,453 ) (55,113 ) (438,566 ) Allowance for credit losses (13,136 ) (1,884 ) (15,020 ) (10,252 ) (2,356 ) (12,608 ) Net investment in sales-type lease receivables 764,344 156,289 920,633 769,828 203,077 972,905 Loan receivables Loan receivables 286,716 29,578 316,294 300,319 29,270 329,589 Allowance for credit losses (6,399 ) (732 ) (7,131 ) (6,777 ) (837 ) (7,614 ) Net investment in loan receivables 280,317 28,846 309,163 293,542 28,433 321,975 Net investment in finance receivables $ 1,044,661 $ 185,135 $ 1,229,796 $ 1,063,370 $ 231,510 $ 1,294,880
Allowance for Credit Losses on Financing Receivables	Activity in the allowance for credit losses for the three months ended March 31, 2019 and 2018 was as follows: Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2019 $ 10,253 $ 2,355 $ 6,777 $ 837 $ 20,222 Amounts charged to expense 3,399 231 957 20 4,607 Write-offs and other (516 ) (702 ) (1,335 ) (125 ) (2,678 ) Balance at March 31, 2019 $ 13,136 $ 1,884 $ 6,399 $ 732 $ 22,151 Sales-type Lease Receivables Loan Receivables North America International North America International Total Balance at January 1, 2018 $ 7,721 $ 2,812 $ 7,098 $ 1,020 $ 18,651 Amounts charged to expense 2,186 399 1,925 140 4,650 Write-offs and other (1,145 ) (127 ) (2,073 ) (176 ) (3,521 ) Balance at March 31, 2018 $ 8,762 $ 3,084 $ 6,950 $ 984 $ 19,780
Past Due Financing Receivables	The aging of gross finance receivables at March 31, 2019 and December 31, 2018 was as follows: March 31, 2019 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 1,065,521 $ 186,947 $ 280,124 $ 29,302 $ 1,561,894 > 90 days 34,099 3,521 6,592 276 44,488 Total $ 1,099,620 $ 190,468 $ 286,716 $ 29,578 $ 1,606,382 Past due amounts > 90 days Still accruing interest $ 6,709 $ 715 $ 2,178 $ 128 $ 9,730 Not accruing interest 27,390 2,806 4,414 148 34,758 Total $ 34,099 $ 3,521 $ 6,592 $ 276 $ 44,488 December 31, 2018 Sales-type Lease Receivables Loan Receivables North America International North America International Total 1 - 90 days $ 1,069,288 $ 243,852 $ 294,126 $ 29,079 $ 1,636,345 > 90 days 41,608 3,922 6,193 191 51,914 Total $ 1,110,896 $ 247,774 $ 300,319 $ 29,270 $ 1,688,259 Past due amounts > 90 days Still accruing interest $ 7,917 $ 1,111 $ 1,769 $ 72 $ 10,869 Not accruing interest 33,691 2,811 4,424 119 41,045 Total $ 41,608 $ 3,922 $ 6,193 $ 191 $ 51,914
Financing Receivable Credit Quality Indicators	March 31, December 31, Sales-type lease receivables Low $ 909,353 $ 922,414 Medium 131,425 131,650 High 23,478 22,110 Not Scored 35,364 34,722 Total $ 1,099,620 $ 1,110,896 Loan receivables Low $ 224,517 $ 238,620 Medium 45,167 43,952 High 5,429 5,947 Not Scored 11,603 11,800 Total $ 286,716 $ 300,319
Sales-type Lease, Lease Income	Lease income from sales-type leases for the three months ended March 31, 2019 and 2018 was as follows: Three Months Ended March 31, 2019 2018 Profit recognized at commencement (1) $ 36,360 $ 47,294 Interest income 59,478 61,832 Total lease income from sales-type leases $ 95,838 $ 109,126 (1) Lease contracts do not include variable lease payments.
Sales-type Lease Maturity	Loans receivable are due within one year. Maturities of gross sales-type lease finance receivables at March 31, 2019 were as follows: Sales-type Lease Receivables North America International Total Remaining for year ending December 31, 2019 $ 486,499 $ 52,782 $ 539,281 Year ending December 31, 2020 275,321 56,077 331,398 Year ending December 31, 2021 186,002 41,078 227,080 Year ending December 31, 2022 106,014 26,276 132,290 Year ending December 31, 2023 42,879 12,511 55,390 Thereafter 2,905 1,744 4,649 Total $ 1,099,620 $ 190,468 $ 1,290,088
Lessor, Payments to be Received	We also lease mailing equipment under operating leases with terms of 1 to 5 years. Maturities of these operating leases are as follows: Remaining for year ending December 31, 2019 $ 26,317 Year ending December 31, 2020 25,322 Year ending December 31, 2021 9,881 Year ending December 31, 2022 4,023 Year ending December 31, 2023 2,590 Thereafter 59 Total $ 68,192

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets at March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ 484,543 $ (286,393 ) $ 198,150 $ 480,837 $ (281,190 ) $ 199,647 Software & technology 164,973 (145,518 ) 19,455 165,088 (143,877 ) 21,211 Trademarks & other 40,104 (34,704 ) 5,400 40,170 (33,891 ) 6,279 Total intangible assets $ 689,620 $ (466,615 ) $ 223,005 $ 686,095 $ (458,958 ) $ 227,137
Amortization Expense In Future Periods	Future amortization expense as of March 31, 2019 is shown in the table below. Actual amortization expense may differ due to, among other things, fluctuations in foreign currency exchange rates, impairments, acquisitions and accelerated amortization. Remaining for year ending December 31, 2019 $ 30,303 Year ending December 31, 2020 35,564 Year ending December 31, 2021 31,026 Year ending December 31, 2022 29,798 Year ending December 31, 2023 26,726 Thereafter 69,588 Total $ 223,005
Schedule of Goodwill	Changes in the carrying value of goodwill, by reporting segment, for the three months ended March 31, 2019 are shown in the table below. December 31, 2018 Divestiture Currency impact March 31, Global Ecommerce $ 609,431 $ — $ — $ 609,431 Presort Services 207,465 — — 207,465 Commerce Services 816,896 — — 816,896 North America Mailing 368,248 — 167 368,415 International Mailing 147,207 (10,490 ) (3,573 ) 133,144 Small & Medium Business Solutions 515,455 (10,490 ) (3,406 ) 501,559 Software Solutions 434,160 — 1,644 435,804 Total goodwill $ 1,766,511 $ (10,490 ) $ (1,762 ) $ 1,754,259

Fair Value Measurements and D_2

Fair Value Measurements and Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 . March 31, 2019 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 225,808 $ 398,019 $ — $ 623,827 Equity securities — 21,663 — 21,663 Commingled fixed income securities 1,600 20,655 — 22,255 Government and related securities 85,390 9,132 — 94,522 Corporate debt securities — 51,677 — 51,677 Mortgage-backed / asset-backed securities — 89,618 — 89,618 Derivatives Foreign exchange contracts — 1,610 — 1,610 Total assets $ 312,798 $ 592,374 $ — $ 905,172 Liabilities: Derivatives Foreign exchange contracts $ — $ (3,430 ) $ — $ (3,430 ) Total liabilities $ — $ (3,430 ) $ — $ (3,430 ) December 31, 2018 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds / commercial paper $ 220,756 $ 391,891 $ — $ 612,647 Equity securities — 19,133 — 19,133 Commingled fixed income securities 1,570 20,141 — 21,711 Government and related securities 98,790 9,787 — 108,577 Corporate debt securities — 56,938 — 56,938 Mortgage-backed / asset-backed securities — 98,334 — 98,334 Derivatives Foreign exchange contracts — 2,031 — 2,031 Total assets $ 321,116 $ 598,255 $ — $ 919,371 Liabilities: Derivatives Foreign exchange contracts $ — $ (735 ) $ — $ (735 ) Total liabilities $ — $ (735 ) $ — $ (735 )
Schedule of Available-for-sale Securities Reconciliation	Available-for-sale securities at March 31, 2019 and December 31, 2018 consisted of the following: March 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 94,831 $ 221 $ (575 ) $ 94,477 Corporate debt securities 51,769 329 (421 ) 51,677 Commingled fixed income securities 1,647 — (47 ) 1,600 Mortgage-backed / asset-backed securities 90,486 335 (1,203 ) 89,618 Total $ 238,733 $ 885 $ (2,246 ) $ 237,372 December 31, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 109,776 $ 47 $ (1,336 ) $ 108,487 Corporate debt securities 58,714 4 (1,780 ) 56,938 Commingled fixed income securities 1,637 — (67 ) 1,570 Mortgage-backed / asset-backed securities 100,186 167 (2,019 ) 98,334 Total $ 270,313 $ 218 $ (5,202 ) $ 265,329
Schedule of Unrealized Holding Losses	The aggregate unrealized holding losses of investment securities in a loss position at March 31, 2019 and December 31, 2018 were as follows: March 31, 2019 December 31, 2018 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Less than 12 continuous months $ 8,518 $ 46 $ 48,318 $ 847 Greater than 12 continuous months 133,732 2,200 177,331 4,355 Total $ 142,250 $ 2,246 $ 225,649 $ 5,202
Available-for-sale Securities	Scheduled maturities of available-for-sale securities at March 31, 2019 were as follows: Amortized cost Estimated fair value Within 1 year $ 54,475 $ 54,348 After 1 year through 5 years 74,200 73,898 After 5 years through 10 years 37,291 37,393 After 10 years 72,767 71,733 Total $ 238,733 $ 237,372
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair value of derivative instruments at March 31, 2019 and December 31, 2018 was as follows: Designation of Derivatives Balance Sheet Location March 31, December 31, Derivatives designated as hedging instruments Foreign exchange contracts Other current assets and prepayments $ 175 $ 61 Accounts payable and accrued liabilities — (104 ) Derivatives not designated as hedging instruments Foreign exchange contracts Other current assets and prepayments 1,435 1,970 Accounts payable and accrued liabilities (3,430 ) (631 ) Total derivative assets $ 1,610 $ 2,031 Total derivative liabilities (3,430 ) (735 ) Total net derivative (liability) asset $ (1,820 ) $ 1,296
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 months ended March 31, 2019 and 2018 : Three Months Ended March 31, 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 2019 2018 2019 2018 Foreign exchange contracts $ 345 $ 35 Revenue $ 111 $ (3 ) Cost of sales 16 (84 ) Interest rate swap — (181 ) Interest Expense — — $ 345 $ (146 ) $ 127 $ (87 )
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 months ended March 31, 2019 and 2018 . All outstanding contracts at March 31, 2019 mature within 12 months. Three Months Ended March 31, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2019 2018 Foreign exchange contracts Selling, general and administrative expense $ 5,269 $ (4,713 )
Fair Value, by Balance Sheet Grouping	The carrying value and estimated fair value of our debt at March 31, 2019 and December 31, 2018 were as follows: March 31, 2019 December 31, 2018 Carrying value $ 3,254,892 $ 3,265,608 Fair value $ 3,152,589 $ 3,003,678

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Activity in our restructuring reserves for the three months ended March 31, 2019 and 2018 was as follows: Severance and benefits costs Other exit costs Total Balance at January 1, 2019 $ 13,641 $ 1,808 $ 15,449 Expenses, net 3,330 268 3,598 Cash payments (7,191 ) (953 ) (8,144 ) Balance at March 31, 2019 $ 9,780 $ 1,123 $ 10,903 Balance at January 1, 2018 $ 42,151 $ 1,569 $ 43,720 Expenses, net 835 69 904 Cash payments (15,008 ) (577 ) (15,585 ) Balance at March 31, 2018 $ 27,978 $ 1,061 $ 29,039

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	Total debt at March 31, 2019 and December 31, 2018 consisted of the following: Interest rate March 31, 2019 December 31, 2018 Notes due September 2020 3.875% $ 300,000 $ 300,000 Notes due October 2021 3.875% 600,000 600,000 Notes due May 2022 4.375% 400,000 400,000 Notes due April 2023 4.95% 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 617,500 630,000 Other debt 5,255 5,297 Principal amount 3,283,596 3,296,138 Less: unamortized costs, net 28,704 30,530 Total debt 3,254,892 3,265,608 Less: current portion long-term debt 207,231 199,535 Long-term debt $ 3,047,661 $ 3,066,073

Pensions and Other Benefit Pr_2

Pensions and Other Benefit Programs (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The components of net periodic benefit (income) cost were as follows: Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Three Months Ended Three Months Ended Three Months Ended March 31, March 31, March 31, 2019 2018 2019 2018 2019 2018 Service cost $ 21 $ 37 $ 384 $ 589 $ 255 $ 407 Interest cost 15,878 15,616 4,488 4,696 1,654 1,603 Expected return on plan assets (23,179 ) (25,424 ) (8,764 ) (9,185 ) — — Amortization of transition credit — — (2 ) (2 ) — — Amortization of prior service (credit) cost (15 ) (15 ) 63 (18 ) 80 88 Amortization of net actuarial loss 7,036 8,076 1,612 1,912 511 934 Net periodic benefit (income) cost $ (259 ) $ (1,710 ) $ (2,219 ) $ (2,008 ) $ 2,500 $ 3,032 Contributions to benefit plans $ 1,628 $ 1,409 $ 8,210 $ 9,210 $ 4,756 $ 4,795

Leased Assets and Liabilities (

Leased Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of operating and finance lease assets and liabilities	Leases Balance Sheet Location March 31, 2019 December 31, 2018 Assets Operating Operating lease assets $ 152,139 $ 156,788 Finance Property, plant and equipment, net 11,536 10,683 Total leased assets $ 163,675 $ 167,471 Liabilities Operating Current operating lease liabilities $ 35,219 $ 37,208 Noncurrent operating lease liabilities 124,873 127,237 Finance Accounts payable and accrued liabilities 2,844 2,708 Other noncurrent liabilities 7,651 7,054 Total lease liabilities $ 170,587 $ 174,207
Schedule of components of lease expense	Three Months Ended March 31, Lease Cost 2019 2018 Operating lease expense $ 12,091 $ 12,277 Finance lease expense Amortization of leased assets 880 602 Interest on lease liabilities 172 118 Variable lease expense 5,864 5,142 Sublease income (666 ) (249 ) Total expense $ 18,341 $ 17,890 Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.
Schedule of future payments of finance lease liabilities	Future Lease Payments Operating Leases Finance Leases Total Remaining for year ending December 31, 2019 $ 32,088 $ 2,643 $ 34,731 Year ending December 31, 2020 35,873 2,935 38,808 Year ending December 31, 2021 28,825 2,543 31,368 Year ending December 31, 2022 20,484 1,992 22,476 Year ending December 31, 2023 14,086 1,348 15,434 Thereafter 57,329 569 57,898 Total 188,685 12,030 200,715 Less: present value discount 28,593 1,535 30,128 Lease liability $ 160,092 $ 10,495 $ 170,587 Operating leases exclude $2 million of minimum lease payments for leases signed but not yet commenced
Schedule of future payments of operating lease liabilities	Future Lease Payments Operating Leases Finance Leases Total Remaining for year ending December 31, 2019 $ 32,088 $ 2,643 $ 34,731 Year ending December 31, 2020 35,873 2,935 38,808 Year ending December 31, 2021 28,825 2,543 31,368 Year ending December 31, 2022 20,484 1,992 22,476 Year ending December 31, 2023 14,086 1,348 15,434 Thereafter 57,329 569 57,898 Total 188,685 12,030 200,715 Less: present value discount 28,593 1,535 30,128 Lease liability $ 160,092 $ 10,495 $ 170,587 Operating leases exclude $2 million of minimum lease payments for leases signed but not yet commenced
Schedule of weighted-average remaining lease terms and weighted-average discount rates	Lease Term and Discount Rate March 31, 2019 December 31, 2018 Weighted-average remaining lease term Operating leases 7.1 years 5.9 years Finance leases 4.1 years 3.8 years Weighted-average discount rate Operating leases 4.7% 4.7% Finance leases 6.5% 6.2%
Schedule of supplemental cash flow information	Three Months Ended March 31, Cash Flow Information 2019 2018 Operating cash outflows - operating leases $ 11,797 $ 11,751 Operating cash outflows - finance leases $ 172 $ 118 Financing cash outflows - finance leases $ 745 $ 564 Leased assets obtained in exchange for new lease obligations Operating leases $ 8,153 $ 2,996 Finance leases $ 1,673 $ 1,072

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Changes in stockholders’ equity for the three months ended March 31, 2019 and 2018 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 January 1, 2019 $ 1 $ 396 $ 323,338 $ 121,475 $ 5,279,682 $ (948,961 ) $ (4,674,089 ) $ 101,842 Net loss — — — — (2,659 ) — — (2,659 ) Other comprehensive loss — — — — — 30,889 — 30,889 Dividends paid ($0.05 per common share) — — — — (9,408 ) — — (9,408 ) Issuance of common stock — — — (18,925 ) — — 16,975 (1,950 ) Conversion to common stock — (8 ) — (168 ) — — 176 — Stock-based compensation expense — — — 6,784 — — — 6,784 Repurchase of common stock — — — — — — (39,142 ) (39,142 ) Balance at March 31, 2019 $ 1 $ 388 $ 323,338 $ 109,166 $ 5,267,615 $ (918,072 ) $ (4,696,080 ) $ 86,356 Preferred stock Preference stock Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at January 1, 2018 $ 1 $ 441 $ 323,338 $ 138,367 $ 5,078,494 $ (794,478 ) $ (4,710,997 ) $ 35,166 Cumulative effect of accounting change — — — — (12,207 ) — — (12,207 ) Net income — — — — 59,970 — — 59,970 Other comprehensive loss — — — — — 19,877 — 19,877 Dividends paid ($0.1875 per common share) — — — — (35,016 ) — — (35,016 ) Issuance of common stock — — — (21,607 ) — — 18,198 (3,409 ) Conversion to common stock — (19 ) — (386 ) — — 405 — Stock-based compensation expense — — — 3,273 — — — 3,273 Balance at March 31, 2018 $ 1 $ 422 $ 323,338 $ 119,647 $ 5,091,241 $ (774,601 ) $ (4,692,394 ) $ 67,654

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCI for the three months ended March 31, 2019 and 2018 were as follows: Amount Reclassified from AOCI (1) Three Months Ended March 31, 2019 2018 Gains (losses) on cash flow hedges Revenue $ 111 $ (3 ) Cost of sales 16 (84 ) Interest expense, net — (507 ) Total before tax 127 (594 ) Income tax provision (benefit) 32 (151 ) Net of tax $ 95 $ (443 ) Losses on available for sale securities Interest expense, net $ (23 ) $ (24 ) Income tax benefit (6 ) (6 ) Net of tax $ (17 ) $ (18 ) Pension and Postretirement Benefit Plans (2) Transition credit $ 2 $ 2 Prior service costs (128 ) (55 ) Actuarial losses (9,159 ) (10,922 ) Total before tax (9,285 ) (10,975 ) Income tax benefit (2,649 ) (2,803 ) Net of tax $ (6,636 ) $ (8,172 ) (1) Amounts in parentheses indicate reductions to income and increases to other comprehensive income. (2) Reclassified from AOCI into other components of net pension and postretirement cost (see Note 12 for additional details).
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in AOCI for the three months ended March 31, 2019 and 2018 were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2019 $ 191 $ (3,061 ) $ (846,461 ) $ (99,630 ) $ (948,961 ) Other comprehensive income before reclassifications (a) 258 2,799 — 21,274 24,331 Reclassifications into earnings (1), (2) (95 ) 17 6,636 — 6,558 Net other comprehensive income 163 2,816 6,636 21,274 30,889 Balance at March 31, 2019 $ 354 $ (245 ) $ (839,825 ) $ (78,356 ) $ (918,072 ) 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 ) $ (46,869 ) $ (794,478 ) Other comprehensive income (loss) before reclassifications (a) 43 (4,010 ) — 15,211 11,244 Reclassifications into earnings (1), (2) 443 18 8,172 — 8,633 Net other comprehensive income (loss) 486 (3,992 ) 8,172 15,211 19,877 Balance at March 31, 2018 $ 80 $ (2,395 ) $ (740,628 ) $ (31,658 ) $ (774,601 ) (1) Amounts are net of tax. Amounts in parentheses indicate debits to AOCI. (2) See table above for additional details of these reclassifications.

Description of Business and B_3

Description of Business and Basis of Presentation (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2019USD ($)market	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to research and development		$ (21,774)	$ (24,495)
Increase to selling, general and administrative		300,982	302,810
Retained earnings		(5,267,615)		$ (5,279,682)
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings					$ 137,000
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease to research and development			6,000
Increase to selling, general and administrative			6,000
Business services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales		327,046	294,379
Business services | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales			(3,000)
Business services | Income Statement Adjustment | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales			(1,000)
Equipment sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales		63,665	62,469
Equipment sales | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales			3,000
Rentals
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales		9,715	12,748
Rentals | Income Statement Adjustment | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales			(1,000)
Support services
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales		$ 41,779	46,065
Support services | Income Statement Adjustment | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) to cost of products and sales			$ 2,000
Disposed of by Sale
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of smaller markets sold | market	6
Pre-tax loss	$ 18,000

Revenue (Disaggregates of Reven

Revenue (Disaggregates of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	$ 868,402	$ 896,583
Total Consolidated Revenue	868,402	896,583
ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	680,709	686,772
Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	93,218	107,204
Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	587,491	579,568
Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	680,709	686,772
Revenue from leasing transactions and financing	187,693	209,811
Total Consolidated Revenue	868,402	896,583
Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	21,294	22,211
Revenue from leasing transactions and financing	68,493	84,497
Total Consolidated Revenue	89,787	106,708
Supplies
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	50,953	59,993
Revenue from leasing transactions and financing	0	0
Total Consolidated Revenue	50,953	59,993
Software
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	73,318	76,294
Revenue from leasing transactions and financing	0	0
Total Consolidated Revenue	73,318	76,294
Rentals
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	22,157	24,965
Total Consolidated Revenue	22,157	24,965
Financing
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	97,043	100,349
Total Consolidated Revenue	97,043	100,349
Support services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	128,621	140,650
Revenue from leasing transactions and financing	0	0
Total Consolidated Revenue	128,621	140,650
Business services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	406,523	387,624
Revenue from leasing transactions and financing	0	0
Total Consolidated Revenue	406,523	387,624
Software Solutions
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	73,318	76,294
Revenue from leasing transactions and financing	73,318	76,294
Software Solutions | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	73,318	76,294
Software Solutions | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	20,970	25,001
Software Solutions | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	52,348	51,293
Software Solutions | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	73,318	76,294
Software Solutions | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Software Solutions | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Software Solutions | Software
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	73,318	76,294
Software Solutions | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Software Solutions | Financing
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Software Solutions | Support services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Software Solutions | Business services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	266,254	246,590
Global Ecommerce | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	266,254	246,590
Global Ecommerce | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Global Ecommerce | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	266,254	246,590
Global Ecommerce | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	266,254	246,590
Global Ecommerce | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Global Ecommerce | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Global Ecommerce | Software
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Global Ecommerce | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Global Ecommerce | Financing
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Global Ecommerce | Support services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Global Ecommerce | Business services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	266,254	246,590
Presort Services
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	134,847	134,458
Presort Services | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	134,847	134,458
Presort Services | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Presort Services | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	134,847	134,458
Presort Services | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	134,847	134,458
Presort Services | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Presort Services | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Presort Services | Software
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Presort Services | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Presort Services | Financing
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	0	0
Presort Services | Support services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	22	0
Presort Services | Business services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	134,825	134,458
North America Mailing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	315,474	340,811
North America Mailing | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	156,544	167,969
North America Mailing | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	44,318	49,367
North America Mailing | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	112,226	118,602
North America Mailing | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	156,544	167,969
North America Mailing | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	9,215	10,416
Revenue from leasing transactions and financing	57,894	68,472
North America Mailing | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	35,103	38,951
North America Mailing | Software
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
North America Mailing | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	17,279	19,512
North America Mailing | Financing
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	83,757	84,858
North America Mailing | Support services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	107,709	113,713
North America Mailing | Business services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	4,517	4,889
International Mailing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	78,509	98,430
International Mailing | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	49,746	61,461
International Mailing | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	27,930	32,836
International Mailing | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	21,816	28,625
International Mailing | Sales And Services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	49,746	61,461
International Mailing | Equipment sales
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	12,079	11,795
Revenue from leasing transactions and financing	10,599	16,025
International Mailing | Supplies
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	15,850	21,042
International Mailing | Software
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
International Mailing | Rentals
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	4,878	5,453
International Mailing | Financing
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	0	0
Revenue from leasing transactions and financing	13,286	15,491
International Mailing | Support services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	20,890	26,937
International Mailing | Business services
Disaggregation of Revenue [Line Items]
Total Revenue recognized under ASC 606	$ 927	$ 1,687

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Advanced billings, revenue recognized	$ 80
Expected timing of satisfaction period	12 months
Support services | Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Period of recognition	1 year
Support services | Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Period of recognition	5 years
Business services | Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Period of recognition	1 year
Business services | Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Period of recognition	5 years

Revenue (Contract Assets and Ad

Revenue (Contract Assets and Advance Billings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contracts assets, current	$ 17,319	$ 16,115
Contracts assets, noncurrent	11,385	13,092
Advance billings, current	203,735	221,527
Advance billings, noncurrent	13,144	$ 12,778
Increase (decrease)
Contracts assets, current	1,204
Contracts assets, noncurrent	(1,707)
Advance billings, current	(17,792)
Advance billings, noncurrent	$ 366

Revenue (Future Performance Obl

Revenue (Future Performance Obligations) (Details) $ in Thousands	Mar. 31, 2019USD ($)
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]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 275,268
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	284,094
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	336,638
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	896,000
Software Solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 55,521
Expected timing of satisfaction period	9 months
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	$ 49,884
Expected timing of satisfaction period	1 year
Software Solutions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 26,118
Expected timing of satisfaction period	3 years
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	$ 131,523
North America Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 196,642
Expected timing of satisfaction period	9 months
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	$ 214,546
Expected timing of satisfaction period	1 year
North America Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 288,869
Expected timing of satisfaction period	3 years
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	$ 700,057
International Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 23,105
Expected timing of satisfaction period	9 months
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	$ 19,664
Expected timing of satisfaction period	1 year
International Mailing | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 21,651
Expected timing of satisfaction period	3 years
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	$ 64,420

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment reporting information profit (loss)
Revenue	$ 868,402	$ 896,583
Reconciling items:
Interest, net	(27,602)	(32,014)
Restructuring charges	(3,598)	(904)
Other expense	(17,710)	0
Income from continuing operations before taxes	6,872	70,278
Provision for income taxes	8,301	18,795
(Loss) income from discontinued operations, net of tax	(1,230)	8,487
Net (loss) income	(2,659)	59,970
Operating Segments
Segment reporting information profit (loss)
EBIT	124,561	166,397
Segment Reconciling Items
Reconciling items:
Interest, net	(38,966)	(43,078)
Unallocated corporate expenses	(55,689)	(51,082)
Restructuring charges	(3,598)	(904)
Other expense	(17,710)	0
Transaction costs	(1,726)	(1,055)
Commerce Services
Segment reporting information profit (loss)
Total from contracts with customers	401,101	381,048
Commerce Services | Operating Segments
Segment reporting information profit (loss)
EBIT	466	19,315
Commerce Services | Global Ecommerce
Segment reporting information profit (loss)
Total from contracts with customers	266,254	246,590
EBIT	(14,600)	(7,711)
Commerce Services | Presort Services
Segment reporting information profit (loss)
Total from contracts with customers	134,847	134,458
EBIT	15,066	27,026
SMB Solutions
Segment reporting information profit (loss)
Total from contracts with customers	393,983	439,241
SMB Solutions | Operating Segments
Segment reporting information profit (loss)
EBIT	122,403	144,590
SMB Solutions | North America Mailing
Segment reporting information profit (loss)
Total from contracts with customers	315,474	340,811
EBIT	110,613	128,568
SMB Solutions | International Mailing
Segment reporting information profit (loss)
Total from contracts with customers	78,509	98,430
EBIT	11,790	16,022
Software Solutions
Segment reporting information profit (loss)
Total from contracts with customers	73,318	76,294
Software Solutions | Operating Segments
Segment reporting information profit (loss)
EBIT	$ 1,692	$ 2,492

Discontinued Operations (Financ

Discontinued Operations (Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) income from discontinued operations	$ (1,230)	$ 8,487
DMT | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	750	102,234
(Loss) earnings from discontinued operations	(663)	11,803
Loss on sale	(667)	0
(Loss) income from discontinued operations before taxes	(1,330)	11,803
Tax (benefit) provision	(100)	3,316
(Loss) income from discontinued operations	$ (1,230)	$ 8,487

Earnings per Share (EPS) (Detai

Earnings per Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
(Loss) income from continuing operations		$ (1,429)	$ 51,483
Numerator:
(Loss) income from discontinued operations, net of tax		(1,230)	8,487
Net (loss) income		(2,659)	59,970
Less: Preference stock dividend		8	8
(Loss) income attributable to common stockholders (numerator for basic EPS)		$ (2,667)	$ 59,962
Denominator:
Weighted-average shares used in basic EPS (in shares)		185,971	186,863
Effect of dilutive shares (in shares)		0	1,312
Weighted-average shares used in diluted EPS (in shares)		185,971	188,175
Basic (loss) earnings per share:
Continuing operations (in dollars per share)	[1]	$ (0.01)	$ 0.28
Discontinued operations (in dollars per share)	[1]	(0.01)	0.05
Net (loss) income (in dollars per share)	[1]	(0.01)	0.32
Diluted (loss) earnings per share:
Continuing operations (in dollars per share)	[1]	(0.01)	0.27
Discontinued operations (in dollars per share)	[1]	(0.01)	0.05
Net (loss) income (in dollars per share)	[1]	$ (0.01)	$ 0.32
Anti-dilutive options excluded from diluted earnings per share (in shares)		14,989	11,636
[1]	The sum of the earnings per share amounts may not equal the totals due to rounding.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 13,258	$ 8,231
Supplies and service parts	23,627	21,841
Finished products	36,474	36,690
Inventory at FIFO cost	73,359	66,762
Excess of FIFO cost over LIFO cost	(4,483)	(4,483)
Total inventory, net	$ 68,876	$ 62,279

Finance Assets and Lessor Ope_3

Finance Assets and Lessor Operating Leases (Finance Receivables) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	$ 1,229,796	$ 1,294,880
North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	1,044,661	1,063,370
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	185,135	231,510
Sales-type lease receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,290,088	1,358,670
Unguaranteed residual values	59,875	65,409
Unearned income	(414,310)	(438,566)
Allowance for credit losses	(15,020)	(12,608)
Net investment in receivables	920,633	972,905
Sales-type lease receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,099,620	1,110,896
Unguaranteed residual values	48,204	52,637
Unearned income	(370,344)	(383,453)
Allowance for credit losses	(13,136)	(10,252)
Net investment in receivables	764,344	769,828
Sales-type lease receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	190,468	247,774
Unguaranteed residual values	11,671	12,772
Unearned income	(43,966)	(55,113)
Allowance for credit losses	(1,884)	(2,356)
Net investment in receivables	156,289	203,077
Loan receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	316,294	329,589
Allowance for credit losses	(7,131)	(7,614)
Net investment in receivables	309,163	321,975
Loan receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	286,716	300,319
Allowance for credit losses	(6,399)	(6,777)
Net investment in receivables	280,317	293,542
Loan receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	29,578	29,270
Allowance for credit losses	(732)	(837)
Net investment in receivables	$ 28,846	$ 28,433
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 and Lessor Ope_4

Finance Assets and Lessor Operating Leases (Sales-type Lease Receivables) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining for year ending December 31, 2019	$ 539,281
Year ending December 31, 2020	331,398
Year ending December 31, 2021	227,080
Year ending December 31, 2022	132,290
Year ending December 31, 2023	55,390
Thereafter	4,649
Total	1,290,088
North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining for year ending December 31, 2019	486,499
Year ending December 31, 2020	275,321
Year ending December 31, 2021	186,002
Year ending December 31, 2022	106,014
Year ending December 31, 2023	42,879
Thereafter	2,905
Total	1,099,620
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining for year ending December 31, 2019	52,782
Year ending December 31, 2020	56,077
Year ending December 31, 2021	41,078
Year ending December 31, 2022	26,276
Year ending December 31, 2023	12,511
Thereafter	1,744
Total	$ 190,468

Finance Assets and Lessor Ope_5

Finance Assets and Lessor Operating Leases (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Revenue recognition resume period (less than)	60 days
Allowance for Credit Losses
Balance Beginning	$ 20,222	$ 18,651
Amounts charged to expense	4,607	4,650
Write-offs and other	(2,678)	(3,521)
Balance Closing	$ 22,151	19,780
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	$ 10,253	7,721
Amounts charged to expense	3,399	2,186
Write-offs and other	(516)	(1,145)
Balance Closing	13,136	8,762
Sales-type lease receivables | International
Allowance for Credit Losses
Balance Beginning	2,355	2,812
Amounts charged to expense	231	399
Write-offs and other	(702)	(127)
Balance Closing	$ 1,884	3,084
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	$ 6,777	7,098
Amounts charged to expense	957	1,925
Write-offs and other	(1,335)	(2,073)
Balance Closing	6,399	6,950
Loan receivables | International
Allowance for Credit Losses
Balance Beginning	837	1,020
Amounts charged to expense	20	140
Write-offs and other	(125)	(176)
Balance Closing	$ 732	$ 984

Finance Assets and Lessor Ope_6

Finance Assets and Lessor Operating Leases (Aging of Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 1,606,382	$ 1,688,259
1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	1,561,894	1,636,345
Contract value	1,561,894	1,636,345
Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	44,488	51,914
Still accruing interest	9,730	10,869
Not accruing interest	34,758	41,045
Contract value	44,488	51,914
Sales-type lease receivables | North America
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	1,099,620	1,110,896
Sales-type lease receivables | North America | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	1,065,521	1,069,288
Contract value	1,065,521	1,069,288
Sales-type lease receivables | North America | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	34,099	41,608
Still accruing interest	6,709	7,917
Not accruing interest	27,390	33,691
Contract value	34,099	41,608
Sales-type lease receivables | International
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	190,468	247,774
Sales-type lease receivables | International | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	186,947	243,852
Contract value	186,947	243,852
Sales-type lease receivables | International | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	3,521	3,922
Still accruing interest	715	1,111
Not accruing interest	2,806	2,811
Contract value	3,521	3,922
Loan receivables | North America
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	286,716	300,319
Loan receivables | North America | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	280,124	294,126
Contract value	280,124	294,126
Loan receivables | North America | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	6,592	6,193
Still accruing interest	2,178	1,769
Not accruing interest	4,414	4,424
Contract value	6,592	6,193
Loan receivables | International
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	29,578	29,270
Loan receivables | International | 1 - 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	29,302	29,079
Contract value	29,302	29,079
Loan receivables | International | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivables	276	191
Still accruing interest	128	72
Not accruing interest	148	119
Contract value	$ 276	$ 191

Finance Assets and Lessor Ope_7

Finance Assets and Lessor Operating Leases (Credit Quality) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
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	$ 1,290,088	$ 1,358,670
Sales-type lease receivables | North America
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	1,099,620	1,110,896
Sales-type lease receivables | North America | Low
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	909,353	922,414
Sales-type lease receivables | North America | Medium
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	131,425	131,650
Sales-type lease receivables | North America | High
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	23,478	22,110
Sales-type lease receivables | North America | Not Scored
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	35,364	34,722
Loan receivables
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	316,294	329,589
Loan receivables | North America
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	286,716	300,319
Loan receivables | North America | Low
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	224,517	238,620
Loan receivables | North America | Medium
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	45,167	43,952
Loan receivables | North America | High
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	5,429	5,947
Loan receivables | North America | Not Scored
Financing Receivable, Recorded Investment [Line Items]
Gross finance receivables	$ 11,603	$ 11,800

Finance Assets and Lessor Ope_8

Finance Assets and Lessor Operating Leases (Lease Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Leases [Abstract]
Profit recognized at commencement	$ 36,360	$ 47,294
Interest income	59,478	61,832
Total lease income from sales-type leases	$ 95,838	$ 109,126

Finance Assets and Lessor Ope_9

Finance Assets and Lessor Operating Leases (Operating Leases) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Lessor, Lease, Description [Line Items]
Remaining for year ending December 31, 2019	$ 26,317
Year ending December 31, 2020	25,322
Year ending December 31, 2021	9,881
Year ending December 31, 2022	4,023
Year ending December 31, 2023	2,590
Thereafter	59
Total	$ 68,192
Mailing Equipment | Minimum
Lessor, Lease, Description [Line Items]
Term	1 year
Mailing Equipment | Maximum
Lessor, Lease, Description [Line Items]
Term	5 years

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Finite lived intangible assets
Gross Carrying Amount	$ 689,620		$ 686,095
Accumulated Amortization	(466,615)		(458,958)
Net Carrying Amount	223,005		227,137
Amortization expense	10,000	$ 11,000
Customer relationships
Finite lived intangible assets
Gross Carrying Amount	484,543		480,837
Accumulated Amortization	(286,393)		(281,190)
Net Carrying Amount	198,150		199,647
Software & technology
Finite lived intangible assets
Gross Carrying Amount	164,973		165,088
Accumulated Amortization	(145,518)		(143,877)
Net Carrying Amount	19,455		21,211
Trademarks & other
Finite lived intangible assets
Gross Carrying Amount	40,104		40,170
Accumulated Amortization	(34,704)		(33,891)
Net Carrying Amount	$ 5,400		$ 6,279

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite lived intangible assets future amortization expense
Remaining for year ending December 31, 2019	$ 30,303
Year ending December 31, 2020	35,564
Year ending December 31, 2021	31,026
Year ending December 31, 2022	29,798
Year ending December 31, 2023	26,726
Thereafter	69,588
Net Carrying Amount	$ 223,005	$ 227,137

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill
December 31, 2018	$ 1,766,511
Divestiture	(10,490)
Currency impact	(1,762)
March 31, 2019	1,754,259
Commerce Services
Goodwill
December 31, 2018	816,896
Divestiture	0
Currency impact	0
March 31, 2019	816,896
Commerce Services | Global Ecommerce
Goodwill
December 31, 2018	609,431
Divestiture	0
Currency impact	0
March 31, 2019	609,431
Commerce Services | Presort Services
Goodwill
December 31, 2018	207,465
Divestiture	0
Currency impact	0
March 31, 2019	207,465
SMB Solutions
Goodwill
December 31, 2018	515,455
Divestiture	(10,490)
Currency impact	(3,406)
March 31, 2019	501,559
SMB Solutions | North America Mailing
Goodwill
December 31, 2018	368,248
Divestiture	0
Currency impact	167
March 31, 2019	368,415
SMB Solutions | International Mailing
Goodwill
December 31, 2018	147,207
Divestiture	(10,490)
Currency impact	(3,573)
March 31, 2019	133,144
Software Solutions
Goodwill
December 31, 2018	434,160
Divestiture	0
Currency impact	1,644
March 31, 2019	$ 435,804

Fair Value Measurements and D_3

Fair Value Measurements and Derivative Instruments (Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 905,172	$ 919,371
Liabilities	(3,430)	(735)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	312,798	321,116
Liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	592,374	598,255
Liabilities	(3,430)	(735)
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	623,827	612,647
Money market funds / commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	225,808	220,756
Money market funds / commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	398,019	391,891
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	21,663	19,133
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	21,663	19,133
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	22,255	21,711
Commingled fixed income securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	1,600	1,570
Commingled fixed income securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	20,655	20,141
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	94,522	108,577
Government and related securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	85,390	98,790
Government and related securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	9,132	9,787
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	51,677	56,938
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	51,677	56,938
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	89,618	98,334
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	89,618	98,334
Mortgage-backed / asset-backed securities | 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	1,610	2,031
Liabilities	(3,430)	(735)
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	1,610	2,031
Liabilities	(3,430)	(735)
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 D_4

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 238,733	$ 270,313
Gross unrealized gains	885	218
Gross unrealized losses	(2,246)	(5,202)
Estimated fair value	237,372	265,329
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	94,831	109,776
Gross unrealized gains	221	47
Gross unrealized losses	(575)	(1,336)
Estimated fair value	94,477	108,487
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	51,769	58,714
Gross unrealized gains	329	4
Gross unrealized losses	(421)	(1,780)
Estimated fair value	51,677	56,938
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,647	1,637
Gross unrealized gains	0	0
Gross unrealized losses	(47)	(67)
Estimated fair value	1,600	1,570
Mortgage-backed / asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	90,486	100,186
Gross unrealized gains	335	167
Gross unrealized losses	(1,203)	(2,019)
Estimated fair value	$ 89,618	$ 98,334

Fair Value Measurements and D_5

Fair Value Measurements and Derivative Instruments (Unrealized Holding Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value
Less than 12 continuous months	$ 8,518	$ 48,318
Greater than 12 continuous months	133,732	177,331
Total	142,250	225,649
Gross unrealized losses
Less than 12 continuous months	46	847
Greater than 12 continuous months	2,200	4,355
Total	$ 2,246	$ 5,202

Fair Value Measurements and D_6

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized cost
Within 1 year	$ 54,475
After 1 year through 5 years	74,200
After 5 years through 10 years	37,291
After 10 years	72,767
Total	238,733	$ 270,313
Estimated fair value
Within 1 year	54,348
After 1 year through 5 years	73,898
After 5 years through 10 years	37,393
After 10 years	71,733
Total	$ 237,372	$ 265,329

Fair Value Measurements and D_7

Fair Value Measurements and Derivative Instruments (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Amount of ineffectiveness	$ 0
Collateral outstanding	0
Term Loan | Notes due December 2020
Derivative [Line Items]
Loan amount	300,000,000
Foreign exchange contracts
Derivative [Line Items]
Derivative notional amount	9,000,000	$ 8,000,000
Interest rate swaps | Cash Flow Hedge
Derivative [Line Items]
Derivative notional amount	$ 300,000,000

Fair Value Measurements and D_8

Fair Value Measurements and Derivative Instruments (Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Total net derivative (liability) asset	$ (1,820)	$ 1,296
Total derivative assets
Derivative [Line Items]
Total net derivative (liability) asset	1,610	2,031
Total derivative liabilities
Derivative [Line Items]
Total net derivative (liability) asset	(3,430)	(735)
Foreign exchange contracts | Derivatives designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative (liability) asset	175	61
Foreign exchange contracts | Derivatives designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative (liability) asset	0	(104)
Foreign exchange contracts | Derivatives not designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative (liability) asset	1,435	1,970
Foreign exchange contracts | Derivatives not designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative (liability) asset	$ (3,430)	$ (631)

Fair Value Measurements and D_9

Fair Value Measurements and Derivative Instruments (Foreign Exchange Contracts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	$ 345	$ (146)
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	127	(87)
Revenue
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	111	(3)
Cost of sales
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	16	(84)
Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	0	0
Foreign exchange contracts
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	345	35
Foreign exchange contracts | Selling, general and administrative expense
Derivative [Line Items]
Derivative Gain (Loss) Recognized in Earnings	5,269	(4,713)
Interest rate swap
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	$ 0	$ (181)

Fair Value Measurements and _10

Fair Value Measurements and Derivative Instruments (Fair Value of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 3,254,892	$ 3,265,608
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 3,152,589	$ 3,003,678

Restructuring Charges (Restruct

Restructuring Charges (Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Costs
Balance Beginning	$ 15,449	$ 43,720
Expenses, net	3,598	904
Cash payments	(8,144)	(15,585)
Balance Ending	$ 10,903	29,039
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	$ 13,641	42,151
Expenses, net	3,330	835
Cash payments	(7,191)	(15,008)
Balance Ending	9,780	27,978
Other exit costs
Restructuring Costs
Balance Beginning	1,808	1,569
Expenses, net	268	69
Cash payments	(953)	(577)
Balance Ending	$ 1,123	$ 1,061

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal amount	$ 3,283,596	$ 3,296,138
Less: unamortized costs, net	28,704	30,530
Total debt	3,254,892	3,265,608
Less: current portion long-term debt	207,231	199,535
Long-term debt	$ 3,047,661	3,066,073
Notes due | Notes due September 2020
Debt Instrument [Line Items]
Interest rate	3.875%
Principal amount	$ 300,000	300,000
Notes due | Notes due October 2021
Debt Instrument [Line Items]
Interest rate	3.875%
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	4.95%
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	617,500	630,000
Other debt
Debt Instrument [Line Items]
Principal amount	$ 5,255	$ 5,297

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Apr. 17, 2019	Mar. 31, 2019
Subsequent Event
Debt Instrument [Line Items]
Principal amount	$ 1,700,000,000
Increase in interest rate	0.25%
Term loans
Debt Instrument [Line Items]
Repayments of debt		$ 13,000,000

Pensions and Other Benefit Pr_3

Pensions and Other Benefit Programs (Components of Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Pension Plans | United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 21	$ 37
Interest cost	15,878	15,616
Expected return on plan assets	(23,179)	(25,424)
Amortization of transition credit	0	0
Amortization of prior service (credit) cost	(15)	(15)
Amortization of net actuarial loss	7,036	8,076
Net periodic benefit (income) cost	(259)	(1,710)
Contributions to benefit plans	1,628	1,409
Defined Benefit Pension Plans | Foreign
Defined Benefit Plan Disclosure [Line Items]
Service cost	384	589
Interest cost	4,488	4,696
Expected return on plan assets	(8,764)	(9,185)
Amortization of transition credit	(2)	(2)
Amortization of prior service (credit) cost	63	(18)
Amortization of net actuarial loss	1,612	1,912
Net periodic benefit (income) cost	(2,219)	(2,008)
Contributions to benefit plans	8,210	9,210
Nonpension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	255	407
Interest cost	1,654	1,603
Expected return on plan assets	0	0
Amortization of transition credit	0	0
Amortization of prior service (credit) cost	80	88
Amortization of net actuarial loss	511	934
Net periodic benefit (income) cost	2,500	3,032
Contributions to benefit plans	$ 4,756	$ 4,795

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	120.80%	26.70%
Tax from Market Exits	$ 2,000
Loss on disposition of businesses	17,710	$ 0
Charge from valuation allowance for tax carryovers	2,000	2,000
Tax benefit from resolution of settlement	$ 2,000	$ 3,000
Percent decrease in unrecognized benefits, reasonably possible (up to)	30.00%

Leased Assets and Liabilities_2

Leased Assets and Liabilities (Operating and Finance Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating	$ 152,139	$ 156,788
Finance	11,536	10,683
Total leased assets	163,675	167,471
Current operating lease liabilities	35,219	37,208
Noncurrent operating lease liabilities	124,873	127,237
Accounts payable and accrued liabilities	2,844	2,708
Other noncurrent liabilities	7,651	7,054
Total lease liabilities	$ 170,587	$ 174,207
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	15 years
Option to extend	5 years

Leased Assets and Liabilities_3

Leased Assets and Liabilities (Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Leases [Abstract]
Operating lease expense	$ 12,091	$ 12,277
Amortization of leased assets	880	602
Interest on lease liabilities	172	118
Variable lease expense	5,864	5,142
Sublease income	(666)	(249)
Total expense	$ 18,341	$ 17,890

Leased Assets and Liabilities_4

Leased Assets and Liabilities (Lease Maturity) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating Leases
Remaining for year ending December 31, 2019	$ 32,088
Year ending December 31, 2020	35,873
Year ending December 31, 2021	28,825
Year ending December 31, 2022	20,484
Year ending December 31, 2023	14,086
Thereafter	57,329
Total	188,685
Less: present value discount	28,593
Lease liability	160,092
Finance Leases
Remaining for year ending December 31, 2019	2,643
Year ending December 31, 2020	2,935
Year ending December 31, 2021	2,543
Year ending December 31, 2022	1,992
Year ending December 31, 2023	1,348
Thereafter	569
Total	12,030
Less: present value discount	1,535
Lease liability	10,495
Total
Remaining for year ending December 31, 2019	34,731
Year ending December 31, 2020	38,808
Year ending December 31, 2021	31,368
Year ending December 31, 2022	22,476
Year ending December 31, 2023	15,434
Thereafter	57,898
Total	200,715
Less: present value discount	30,128
Lease liability	170,587
Lease not yet commenced	$ 2,000

Leased Assets and Liabilities_5

Leased Assets and Liabilities (Weighted-Average) (Details)	Mar. 31, 2019	Mar. 31, 2018
Weighted-average remaining lease term
Operating leases	7 years 1 month 6 days	5 years 10 months 24 days
Finance leases	4 years 1 month 6 days	3 years 9 months 18 days
Weighted-average discount rate
Operating leases	4.70%	4.70%
Finance leases	6.50%	6.20%

Leased Assets and Liabilities_6

Leased Assets and Liabilities (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Leases [Abstract]
Operating cash outflows - operating leases	$ 11,797	$ 11,751
Operating cash outflows - finance leases	172	118
Financing cash outflows - finance leases	745	564
Leased assets obtained in exchange for new lease obligations
Operating leases	8,153	2,996
Finance leases	$ 1,673	$ 1,072

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2018
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 101,842	$ 35,166
Cumulative effect of accounting change			$ (12,207)
Net loss	(2,659)	59,970
Other comprehensive income (loss)	30,889	19,877
Dividends paid ($0.05 per common share)	(9,408)	(35,016)
Issuance of common stock	(1,950)	(3,409)
Conversion to common stock	0	0
Stock-based compensation expense	6,784	3,273
Repurchase of common stock	(39,142)
Balances, end of period	$ 86,356	$ 67,654
Dividends paid (USD per share)	$ 0.05	$ 0.1875
Preferred stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 1	$ 1
Balances, end of period	1	1
Preference stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	396	441
Conversion to common stock	(8)	(19)
Balances, end of period	388	422
Common stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	323,338	323,338
Balances, end of period	323,338	323,338
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	121,475	138,367
Issuance of common stock	(18,925)	(21,607)
Conversion to common stock	(168)	(386)
Stock-based compensation expense	6,784	3,273
Balances, end of period	109,166	119,647
Retained earnings
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	5,279,682	5,078,494
Cumulative effect of accounting change			$ (12,207)
Net loss	(2,659)	59,970
Dividends paid ($0.05 per common share)	(9,408)	(35,016)
Balances, end of period	5,267,615	5,091,241
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(948,961)	(794,478)
Other comprehensive income (loss)	30,889	19,877
Balances, end of period	(918,072)	(774,601)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(4,674,089)	(4,710,997)
Issuance of common stock	16,975	18,198
Conversion to common stock	176	405
Repurchase of common stock	(39,142)
Balances, end of period	$ (4,696,080)	$ (4,692,394)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	$ 868,402	$ 896,583
Interest expense, net	(27,602)	(32,014)
Income from continuing operations before taxes	6,872	70,278
Income tax benefit	(8,301)	(18,795)
Net (loss) income	(2,659)	59,970
Pension and Postretirement Benefit Plans	(300,982)	(302,810)
Reclassification out of Accumulated Other Comprehensive Loss | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	111	(3)
Cost of sales	16	(84)
Interest expense, net	0	(507)
Income from continuing operations before taxes	127	(594)
Income tax benefit	32	(151)
Net (loss) income	95	(443)
Reclassification out of Accumulated Other Comprehensive Loss | Available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	(23)	(24)
Income tax benefit	(6)	(6)
Net (loss) income	(17)	(18)
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	(9,285)	(10,975)
Income tax benefit	(2,649)	(2,803)
Net (loss) income	(6,636)	(8,172)
Reclassification out of Accumulated Other Comprehensive Loss | Transition credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and Postretirement Benefit Plans	2	2
Reclassification out of Accumulated Other Comprehensive Loss | Prior service costs
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and Postretirement Benefit Plans	(128)	(55)
Reclassification out of Accumulated Other Comprehensive Loss | Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and Postretirement Benefit Plans	$ (9,159)	$ (10,922)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Changes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	$ 101,842	$ 35,166
Other comprehensive income (loss) before reclassifications	24,331	11,244
Reclassifications into earnings	6,558	8,633
Other comprehensive income, net of tax	30,889	19,877
Balances, end of period	86,356	67,654
Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	191	(406)
Other comprehensive income (loss) before reclassifications	258	43
Reclassifications into earnings	(95)	443
Other comprehensive income, net of tax	163	486
Balances, end of period	354	80
Available for sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(3,061)	1,597
Other comprehensive income (loss) before reclassifications	2,799	(4,010)
Reclassifications into earnings	17	18
Other comprehensive income, net of tax	2,816	(3,992)
Balances, end of period	(245)	(2,395)
Pension and postretirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(846,461)	(748,800)
Other comprehensive income (loss) before reclassifications	0	0
Reclassifications into earnings	6,636	8,172
Other comprehensive income, net of tax	6,636	8,172
Balances, end of period	(839,825)	(740,628)
Foreign currency adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(99,630)	(46,869)
Other comprehensive income (loss) before reclassifications	21,274	15,211
Reclassifications into earnings	0	0
Other comprehensive income, net of tax	21,274	15,211
Balances, end of period	(78,356)	(31,658)
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(948,961)	(794,478)
Other comprehensive income, net of tax	30,889	19,877
Balances, end of period	$ (918,072)	$ (774,601)