Pitney Bowes (PBI) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 28, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-03579
Entity Registrant Name	PITNEY BOWES INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-0495050
Entity Address, Address Line One	3001 Summer Street,
Entity Address, City or Town	Stamford,
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06926
City Area Code	(203)
Local Phone Number	356-5000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		173,108,679
Entity Central Index Key	0000078814
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Common stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	PBI
Security Exchange Name	NYSE
6.70% Notes due 2043
Entity Information [Line Items]
Title of 12(b) Security	6.7% Notes due 2043
Trading Symbol	PBI.PRB
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue		$ 891,898	$ 790,125	$ 2,525,658	$ 2,373,782
Costs and expenses:
Selling, general and administrative		238,618	254,092	720,882	757,228
Research and development		9,255	12,272	28,838	38,421
Restructuring charges and asset impairments		3,766	47,017	12,505	56,616
Goodwill impairment		0	0	198,169	0
Interest expense, net		27,175	28,704	79,504	84,325
Other components of net pension and postretirement (income) cost		(109)	(882)	126	(3,138)
Other (income) expense		(6,325)	667	9,787	18,350
Total costs and expenses		880,571	809,675	2,726,189	2,355,021
Income (loss) from continuing operations before taxes		11,327	(19,550)	(200,531)	18,761
Provision (benefit) for income taxes		554	(24,895)	7,540	(13,351)
Income (loss) from continuing operations		10,773	5,345	(208,071)	32,112
Income (loss) from discontinued operations, net of tax		616	(8,470)	7,648	(14,199)
Net income (loss)		$ 11,389	$ (3,125)	$ (200,423)	$ 17,913
Basic earnings (loss) per share:
Continuing operations (in dollars per share)	[1]	$ 0.06	$ 0.03	$ (1.21)	$ 0.18
Discontinued operations (in dollars per share)	[1]	0	(0.05)	0.04	(0.08)
Net (loss) income (in dollars per share)	[1]	0.07	(0.02)	(1.17)	0.10
Diluted earnings (loss) per share:
Continuing operations (in dollars per share)	[1]	0.06	0.03	(1.21)	0.18
Discontinued operations (in dollars per share)	[1]	0	(0.05)	0.04	(0.08)
Net (loss) income (in dollars per share)	[1]	$ 0.07	$ (0.02)	$ (1.17)	$ 0.10
Business services
Revenue from contracts with customers		$ 550,954	$ 419,101	$ 1,524,323	$ 1,243,609
Revenue		550,954	419,101	1,524,323	1,243,609
Costs and expenses:
Cost of products and sales		482,965	338,519	1,311,941	1,003,483
Support services
Revenue from contracts with customers		117,519	126,274	353,320	382,578
Revenue		117,519	126,274	353,320	382,578
Costs and expenses:
Cost of products and sales		37,647	41,086	114,132	123,453
Financing
Revenue from contracts with customers		0	0	0	0
Revenue		86,218	90,577	260,758	280,039
Costs and expenses:
Cost of products and sales		11,626	11,026	36,054	33,433
Equipment sales
Revenue from contracts with customers		17,935	19,062	49,556	59,739
Revenue		79,572	89,618	213,682	264,956
Costs and expenses:
Cost of equipment sales		59,766	59,859	165,045	182,094
Supplies
Revenue from contracts with customers		39,635	44,818	118,117	142,261
Revenue		39,635	44,818	118,117	142,261
Costs and expenses:
Cost of products and sales		10,132	12,225	30,751	37,533
Rentals
Revenue from contracts with customers		0	0	0	0
Revenue		18,000	19,737	55,458	60,339
Costs and expenses:
Cost of products and sales		$ 6,055	$ 5,090	$ 18,455	$ 23,223
[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 (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ 11,389	$ (3,125)	$ (200,423)	$ 17,913
Other comprehensive income (loss), net of tax:
Foreign currency translation, net of tax of $1,621, $(655), $(91) and $(1,078), respectively	22,676	(27,962)	5,040	(6,584)
Net unrealized (loss) gain on cash flow hedges, net of tax of $(317), $51, $(796) and $27, respectively	(957)	149	(2,402)	78
Net unrealized (loss) gain on investment securities, net of tax of $(2,716), $509, $(1,816) and $2,573, respectively	(8,191)	1,487	(5,476)	7,516
Amortization of pension and postretirement costs, net of tax benefits of 2,875, 2,633, 9,027 and 7,406, respectively	9,162	7,552	29,409	21,499
Other comprehensive income (loss), net of tax	22,690	(18,774)	26,571	22,509
Comprehensive income (loss)	$ 34,079	$ (21,899)	$ (173,852)	$ 40,422

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ 1,621	$ (655)	$ (91)	$ (1,078)
Net unrealized gain (loss) on cash flow hedges, tax	(317)	51	(796)	27
Net unrealized gain on investment securities, tax	(2,716)	509	(1,816)	2,573
Amortization of pension and postretirement costs, tax	$ 2,875	$ 2,633	$ 9,027	$ 7,406

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 799,177	$ 924,442
Short-term investments (includes $21,185 and $35,879, respectively, reported at fair value)	21,185	115,879
Accounts and other receivables (net of allowance of $29,669 and $17,830, respectively)	348,565	373,471
Short-term finance receivables (net of allowance of $21,289 and $12,556, respectively)	559,148	629,643
Inventories	66,974	68,251
Current income taxes	11,477	5,565
Other current assets and prepayments	115,981	101,601
Assets of discontinued operations	0	17,229
Total current assets	1,922,507	2,236,081
Property, plant and equipment, net	367,466	376,177
Rental property and equipment, net	40,352	41,225
Long-term finance receivables (net of allowance of $16,779 and $7,095 respectively)	587,548	625,487
Goodwill	1,142,144	1,324,179
Intangible assets, net	167,493	190,640
Operating lease assets	213,490	200,752
Noncurrent income taxes	69,305	71,903
Other assets (includes $418,100 and $230,442, respectively, reported at fair value)	533,726	400,456
Total assets	5,044,031	5,466,900
Current liabilities:
Accounts payable and accrued liabilities	760,363	793,690
Customer deposits at Pitney Bowes Bank	610,582	591,118
Current operating lease liabilities	38,007	36,060
Current portion of long-term debt	63,509	20,108
Advance billings	102,919	101,920
Current income taxes	2,527	17,083
Liabilities of discontinued operations	0	9,713
Total current liabilities	1,577,907	1,569,692
Long-term debt	2,531,712	2,719,614
Deferred taxes on income	279,526	274,435
Tax uncertainties and other income tax liabilities	40,642	38,834
Noncurrent operating lease liabilities	192,789	177,711
Other noncurrent liabilities	342,330	400,518
Total liabilities	4,964,906	5,180,804
Commitments and contingencies (See Note 14)
Stockholders’ equity:
Common stock, $1 par value (480,000,000 shares authorized; 323,337,912 shares issued)	323,338	323,338
Additional paid-in capital	67,512	98,748
Retained earnings	5,190,914	5,438,930
Accumulated other comprehensive loss	(813,572)	(840,143)
Treasury stock, at cost (151,413,053 and 152,888,969 shares, respectively)	(4,689,067)	(4,734,777)
Total stockholders’ equity	79,125	286,096
Total liabilities and stockholders’ equity	$ 5,044,031	$ 5,466,900

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Short term investments, fair value	$ 21,185	$ 35,879
Allowance for doubtful accounts	29,669	17,830
Short-term finance receivables allowance	21,289	12,556
Long-term finance receivables allowance	16,779	7,095
Other assets, fair value	$ 418,100	$ 230,442
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)	151,413,053	152,888,969

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (200,423)	$ 17,913
(Income) loss from discontinued operations, net of tax	(7,648)	14,199
Restructuring payments	(15,869)	(18,845)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	120,403	118,514
Allowance for credit losses	35,400	22,131
Stock-based compensation	15,236	15,867
Restructuring charges and asset impairments	12,505	56,616
Amortization of debt fees	7,962	8,014
Goodwill impairment	198,169	0
Loss on extinguishment of debt	36,987	667
Gain on sale of investments	(21,969)	0
Loss on sale of business	0	17,683
Changes in operating assets and liabilities, net of acquisitions/divestitures:
Increase in accounts receivable	(8,064)	(248)
Decrease in finance receivables	85,593	25,300
Decrease (increase) in inventories	1,051	(14,559)
Increase in other current assets and prepayments	(18,400)	(30,546)
Increase in accounts payable and accrued liabilities	(1,047)	892
Increase (decrease) in current and noncurrent income taxes	21,682	(30,401)
Increase (decrease) in advance billings	687	(3,802)
Decrease in pension and retiree medical liabilities	(25,095)	(39,231)
Other, net	(8,113)	6,262
Net cash provided by operating activities - continuing operations	229,047	166,426
Net cash (used in) provided by operating activities - discontinued operations	(38,423)	15,858
Net cash provided by operating activities	190,624	182,284
Cash flows from investing activities:
Capital expenditures	(80,787)	(95,221)
Purchases of available-for-sale securities	(392,427)	(45,178)
Proceeds from sales/maturities of available-for-sale securities	241,924	78,024
Net activity from short-term and other investments	68,464	(92,418)
Acquisitions, net of cash acquired	(6,608)	(22,100)
Sale of other investments (See Note 8)	58,248	0
Increase in customer deposits at Pitney Bowes Bank	19,464	3,125
Other investing activities	(1,511)	(9,341)
Net cash used in investing activities - continuing operations	(93,233)	(183,109)
Net cash used in investing activities - discontinued operations	(2,502)	(18,572)
Net cash used in investing activities - continuing operations	(95,735)	(201,681)
Cash flows from financing activities:
Proceeds from the issuance of long-term debt	916,544	0
Principal payments of long-term debt	(1,072,260)	(202,640)
Premiums and fees paid to extinguish debt	(32,645)	0
Dividends paid to stockholders	(25,693)	(26,854)
Common stock repurchases	0	(105,000)
Other financing activities	(3,318)	7,302
Net cash used in financing activities	(217,372)	(327,192)
Effect of exchange rate changes on cash and cash equivalents	(2,782)	(5,822)
Change in cash and cash equivalents	(125,265)	(352,411)
Cash and cash equivalents at beginning of period	924,442	867,262
Cash and cash equivalents at end of period	799,177	514,851
Cash interest paid	115,143	110,943
Cash income tax payments, net of refunds	$ 19,861	$ 25,527

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
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 commerce solutions that power billions of transactions. Clients around the world rely on the accuracy and precision delivered by our equipment, solutions, analytics, and application programming interface technology in the areas of ecommerce fulfillment, shipping and returns, cross-border ecommerce, office mailing and shipping, presort services and financing. Pitney Bowes Inc. was incorporated in the state of Delaware in 1920. For more information about us, our products, services and solutions, visit www.pitneybowes.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, 2019 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, 2020, particularly in light of the novel coronavirus pandemic (COVID-19) and its effect on global businesses and economies. 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, 2019 (2019 Annual Report). Accounts and other receivables includes other net receivables of $60 million at September 30, 2020 and $91 million at December 31, 2019. In January 2019, we sold the direct operations and moved to a dealer model in six smaller international markets within Sending Technology Solutions (SendTech Solutions). Other receivables includes gross receivables of $20 million related to these direct operations. Risks and Uncertainties The effects of COVID-19 on global economies and businesses continues to impact how we conduct business and our operating results, financial position and cash flows. Its impact on our business remains unpredictable and accordingly, we are not able to reasonably estimate the full extent of COVID-19 on our operating results, financial position and cash flows. We assessed certain accounting matters that require the use of estimates, assumptions and consideration of forecasted financial information in context with the known and projected future impacts of COVID-19. The most significant impacts were to our allowance for credit losses (see Accounting Pronouncements Adopted in 2020 below) and the carrying value of goodwill (see Note 8). Actual results could differ significantly from our estimates and assumptions, possibly resulting in additional impairments or other charges. Accounting Pronouncements Adopted in 2020 Effective January 1, 2020, we adopted Accounting Standards Update (ASU) 2016-13, Financial Instruments - Credit Losses . We adopted this standard using the modified retrospective transition approach with a cumulative effect adjustment to retained earnings. The ASU applies to financial assets measured at amortized cost, including finance receivables, trade and other receivables and investments in debt securities classified as available-for-sale and held-to-maturity. The ASU replaces the current incurred loss impairment model that recognizes losses when a probable threshold is met with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. The models to estimate credit losses are required to be based on historical loss experience, current conditions, reasonable and supportable forecasts and current economic outlook. The adoption of the standard resulted in an increase in the opening reserve balance for accounts and other receivables of $15 million and the opening reserve balance for finance receivables of $10 million and a net reduction to retained earnings of $22 million. The impact of COVID-19 on global businesses and economies resulted in an increased probability of recessionary conditions, delinquency rates and business bankruptcy resulting in an additional $11 million provision in the first quarter of 2020. Through September 30, 2020, our credit loss provision was $35 million compared to $22 million through September 30, 2019. Activity in the allowance for credit losses for accounts and other receivables for the nine months ended September 30, 2020 is presented below. See Note 7 for additional information pertaining to our finance receivables. Balance at December 31, 2019 Cumulative effect of accounting change Amounts charged to expense Write-offs, recoveries and currency impact Balance at Allowance for credit losses $ 17,830 $ 15,336 $ 16,856 $ (20,353) $ 29,669 Accounts receivable greater than 365 days past due, subject to certain exceptions, are written off against the allowance, although collection efforts may continue. Accounting Pronouncements Not Yet Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued ASU 2019-12, Simplifying the Accounting for Income Taxes . The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles and also clarifies and amends existing guidance. This standard is effective beginning January 1, 2021, with early adoption permitted. We do not expect this standard to have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregated Revenue The following tables disaggregate our revenue by source and timing of recognition: Three Months Ended September 30, 2020 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 409,981 $ 127,705 $ 13,268 $ 550,954 $ — $ 550,954 Support services — — 117,519 117,519 — 117,519 Financing — — — — 86,218 86,218 Equipment sales — — 17,935 17,935 61,637 79,572 Supplies — — 39,635 39,635 — 39,635 Rentals — — — — 18,000 18,000 Subtotal 409,981 127,705 188,357 726,043 $ 165,855 $ 891,898 Revenue from leasing transactions and financing Financing — — 86,218 86,218 Equipment sales — — 61,637 61,637 Rentals — — 18,000 18,000 Total revenue $ 409,981 $ 127,705 $ 354,212 $ 891,898 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 73,602 $ 73,602 Products/services transferred over time 409,981 127,705 114,755 652,441 Total $ 409,981 $ 127,705 $ 188,357 $ 726,043 Three Months Ended September 30, 2019 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 278,995 $ 131,483 $ 8,623 $ 419,101 $ — $ 419,101 Support services — — 126,274 126,274 — 126,274 Financing — — — — 90,577 90,577 Equipment sales — — 19,062 19,062 70,556 89,618 Supplies — — 44,818 44,818 — 44,818 Rentals — — — — 19,737 19,737 Subtotal 278,995 131,483 198,777 609,255 $ 180,870 $ 790,125 Revenue from leasing transactions and financing Financing — — 90,577 90,577 Equipment sales — — 70,556 70,556 Rentals — — 19,737 19,737 Total revenue $ 278,995 $ 131,483 $ 379,647 $ 790,125 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 81,547 $ 81,547 Products/services transferred over time 278,995 131,483 117,230 527,708 Total $ 278,995 $ 131,483 $ 198,777 $ 609,255 Nine Months Ended September 30, 2020 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 1,100,757 $ 386,552 $ 37,014 $ 1,524,323 $ — $ 1,524,323 Support services — — 353,320 353,320 — 353,320 Financing — — — — 260,758 260,758 Equipment sales — — 49,556 49,556 164,126 213,682 Supplies — — 118,117 118,117 — 118,117 Rentals — — — — 55,458 55,458 Subtotal 1,100,757 386,552 558,007 2,045,316 $ 480,342 $ 2,525,658 Revenue from leasing transactions and financing Financing — — 260,758 260,758 Equipment sales — — 164,126 164,126 Rentals — — 55,458 55,458 Total revenue $ 1,100,757 $ 386,552 $ 1,038,349 $ 2,525,658 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 210,726 $ 210,726 Products/services transferred over time 1,100,757 386,552 347,281 1,834,590 Total $ 1,100,757 $ 386,552 $ 558,007 $ 2,045,316 Nine Months Ended September 30, 2019 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 827,568 $ 394,468 $ 21,573 $ 1,243,609 $ — $ 1,243,609 Support services — — 382,578 382,578 — 382,578 Financing — — — — 280,039 280,039 Equipment sales — — 59,739 59,739 205,217 264,956 Supplies — — 142,261 142,261 — 142,261 Rentals — — — — 60,339 60,339 Subtotal 827,568 394,468 606,151 1,828,187 $ 545,595 $ 2,373,782 Revenue from leasing transactions and financing Financing — — 280,039 280,039 Equipment sales — — 205,217 205,217 Rentals — — 60,339 60,339 Total revenue $ 827,568 $ 394,468 $ 1,151,746 $ 2,373,782 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 251,214 $ 251,214 Products/services transferred over time 827,568 394,468 354,937 1,576,973 Total $ 827,568 $ 394,468 $ 606,151 $ 1,828,187 Our performance obligations for revenue from products and services are as follows: Business services includes providing mail processing services, shipping subscription solutions, fulfillment, delivery and return services and cross-border solutions. Revenue for mail processing services, fulfillment, delivery and return services and cross-border solutions is recognized over time as the services are provided and revenue for shipping subscription solutions is recognized ratably over the contract period. Contract terms for these services range from one to five years followed by annual renewal periods. Support services includes providing maintenance, professional and subscription services for our mailing equipment and professional services for our shipping solutions. Contract terms range from one Equipment sales generally includes the sale of mailing and shipping equipment, excluding sales-type leases. We recognize revenue upon delivery for self-install equipment 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. Supplies revenue is recognized upon delivery. Revenue from leasing transactions and financing includes revenue from sales-type and operating leases, finance income, late fees and investment income, gains and losses at Pitney Bowes Bank. Advance Billings from Contracts with Customers Balance sheet location September 30, 2020 December 31, 2019 Increase/ (decrease) Advance billings, current Advance billings $ 94,454 $ 92,464 $ 1,990 Advance billings, noncurrent Other noncurrent liabilities $ 1,117 $ 1,245 $ (128) Advance billings are recorded when cash payments are due in advance of our performance. Revenue is recognized ratably over the contract term. Items in advance billings primarily relate to support services on mailing equipment. Revenue recognized during the period includes $78 million of advance billings at the beginning of the period. Advance billings at September 30, 2020 and December 31, 2019 also includes $8 million and $9 million, respectively, from leasing transactions. Future Performance Obligations Future performance obligations include revenue streams bundled with our leasing contracts, primarily maintenance and subscription services. The transaction prices allocated to future performance obligations will be recognized as follows: Remainder of 2020 2021 2022-2025 Total SendTech Solutions $ 73,963 $ 263,673 $ 388,235 $ 725,871 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	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Our reportable segments are Global Ecommerce, Presort Services and SendTech Solutions. Global Ecommerce and Presort Services comprise the Commerce Services reporting group. The principal products and services of each reportable segment are as follows: Global Ecommerce: Includes the revenue and related expenses from products and services that facilitate domestic retail and ecommerce shipping solutions, including fulfillment and returns, and global cross-border ecommerce transactions. Presort Services : Includes revenue and related expenses from sortation services to qualify large volumes of First Class Mail, Marketing Mail and Marketing Mail Flats and Bound Printed Matter for postal worksharing discounts. SendTech Solutions: Includes the revenue and related expenses from physical and digital mailing and shipping technology solutions, financing, services, supplies and other applications to help simplify and save on the sending, tracking and receiving of letters, parcels and flats. Management measures segment profitability and performance using segment earnings before interest and taxes (EBIT). Segment EBIT is calculated by deducting from segment revenue the related costs and expenses attributable to the segment. Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, asset impairment charges and other items not allocated to a particular business segment. Management believes that it provides investors a useful measure of operating performance and underlying trends of the business. 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 (loss). Revenue Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Global Ecommerce $ 409,981 $ 278,995 $ 1,100,757 $ 827,568 Presort Services 127,705 131,483 386,552 394,468 Commerce Services 537,686 410,478 1,487,309 1,222,036 SendTech Solutions 354,212 379,647 1,038,349 1,151,746 Total revenue $ 891,898 $ 790,125 $ 2,525,658 $ 2,373,782 EBIT Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Global Ecommerce $ (19,757) $ (21,793) $ (68,126) $ (51,969) Presort Services 14,481 17,687 42,758 48,215 Commerce Services (5,276) (4,106) (25,368) (3,754) SendTech Solutions 112,599 130,954 323,429 378,095 Total segment EBIT 107,323 126,848 298,061 374,341 Reconciliation of Segment EBIT to net income (loss): Unallocated corporate expenses (53,429) (58,277) (146,640) (160,283) Restructuring charges and asset impairments (3,766) (47,017) (12,505) (56,616) Interest expense, net (38,801) (39,730) (115,558) (117,758) Gain on sale of equity investment — — 11,908 — Goodwill impairment — — (198,169) — Loss on extinguishment of debt — (667) (36,987) (667) Loss on dispositions — — — (17,683) Transaction costs — (707) (641) (2,573) (Provision) benefit for income taxes (554) 24,895 (7,540) 13,351 Income (loss) from continuing operations 10,773 5,345 (208,071) 32,112 Income (loss) from discontinued operations, net of tax 616 (8,470) 7,648 (14,199) Net income (loss) $ 11,389 $ (3,125) $ (200,423) $ 17,913

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Discontinued operations includes the Software Solutions business, sold in December 2019, with the exception of the software business in Australia, which closed in January 2020, and the Production Mail business, sold in July 2018. Selected financial information of discontinued operations is as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Software Solutions Production Mail Total Software Solutions Production Mail Total Revenue $ — $ — $ — $ 73,620 $ — $ 73,620 Earnings from discontinued operations $ — $ — $ — $ 8,633 $ — $ 8,633 Gain (loss) on sale 474 — 474 (12,447) (5,710) (18,157) Income (loss) from discontinued operations before taxes $ 474 $ — 474 $ (3,814) $ (5,710) (9,524) Tax benefit (142) (1,054) Income (loss) from discontinued operations, net of tax $ 616 $ (8,470) Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Software Solutions Production Mail Total Software Solutions Production Mail Total Revenue $ — $ — $ — $ 219,144 $ — $ 219,144 Earnings (loss) from discontinued operations $ — $ — $ — $ 13,334 $ (663) $ 12,671 Gain (loss) on sale 7,343 (167) 7,176 (14,211) (14,967) (29,178) Income (loss) from discontinued operations before taxes $ 7,343 $ (167) 7,176 $ (877) $ (15,630) (16,507) Tax benefit (472) (2,308) Income (loss) from discontinued operations, net of tax $ 7,648 $ (14,199) Assets of discontinued operations and liabilities of discontinued operations at December 31, 2019 includes the assets and liabilities of the software business in Australia.

Earnings per Share (EPS)

Earnings per Share (EPS)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings per Share (EPS)	Earnings per Share (EPS) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Income (loss) from continuing operations $ 10,773 $ 5,345 $ (208,071) $ 32,112 Income (loss) from discontinued operations, net of tax 616 (8,470) 7,648 (14,199) Net income (loss) (numerator for diluted EPS) 11,389 (3,125) (200,423) 17,913 Less: Preference stock dividend — — — 8 Income (loss) attributable to common stockholders (numerator for basic EPS) $ 11,389 $ (3,125) $ (200,423) $ 17,905 Denominator: Weighted-average shares used in basic EPS 171,828 170,326 171,388 178,048 Dilutive effect of common stock equivalents (1) 2,876 875 — 1,048 Weighted-average shares used in diluted EPS 174,704 171,201 171,388 179,096 Basic earnings (loss) per share (2) : Continuing operations $ 0.06 $ 0.03 $ (1.21) $ 0.18 Discontinued operations — (0.05) 0.04 (0.08) Net income (loss) $ 0.07 $ (0.02) $ (1.17) $ 0.10 Diluted earnings (loss) per share (2) : Continuing operations $ 0.06 $ 0.03 $ (1.21) $ 0.18 Discontinued operations — (0.05) 0.04 (0.08) Net income (loss) $ 0.07 $ (0.02) $ (1.17) $ 0.10 Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive: 14,828 16,182 15,855 16,166 (1) Dilutive effect of common stock equivalents for the nine months ended September 30, 2020 was 1,604 shares; however, this amount was not included in the calculation of diluted earnings per share as the impact would have been anti-dilutive. (2) The sum of the earnings per share amounts may not equal the totals due to rounding.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
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 consisted of the following: September 30, December 31, Raw materials $ 16,174 $ 13,514 Supplies and service parts 22,628 21,840 Finished products 31,957 36,969 Inventory at FIFO cost 70,759 72,323 Excess of FIFO cost over LIFO cost (3,785) (4,072) Total inventory, net $ 66,974 $ 68,251

Finance Assets and Lessor Opera

Finance Assets and Lessor Operating Leases	9 Months Ended
	Sep. 30, 2020
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 Finance receivables consisted of the following: September 30, 2020 December 31, 2019 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 981,475 $ 201,590 $ 1,183,065 $ 1,055,852 $ 224,202 $ 1,280,054 Unguaranteed residual values 37,191 11,609 48,800 41,934 11,789 53,723 Unearned income (270,499) (58,811) (329,310) (319,281) (65,888) (385,169) Allowance for credit losses (25,886) (4,902) (30,788) (10,920) (2,085) (13,005) Net investment in sales-type lease receivables 722,281 149,486 871,767 767,585 168,018 935,603 Loan receivables Loan receivables 259,832 22,377 282,209 298,247 27,926 326,173 Allowance for credit losses (6,792) (488) (7,280) (5,906) (740) (6,646) Net investment in loan receivables 253,040 21,889 274,929 292,341 27,186 319,527 Net investment in finance receivables $ 975,321 $ 171,375 $ 1,146,696 $ 1,059,926 $ 195,204 $ 1,255,130 Maturities of gross sales-type lease receivables and gross loan receivables at September 30, 2020 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remaining for year ending December 31, 2020 $ 114,724 $ 35,721 $ 150,445 $ 215,593 $ 22,377 $ 237,970 Year ending December 31, 2021 359,198 75,057 434,255 13,314 — 13,314 Year ending December 31, 2022 259,729 49,422 309,151 11,507 — 11,507 Year ending December 31, 2023 155,254 27,279 182,533 6,394 — 6,394 Year ending December 31, 2024 77,034 11,000 88,034 7,023 — 7,023 Thereafter 15,536 3,111 18,647 6,001 — 6,001 Total $ 981,475 $ 201,590 $ 1,183,065 $ 259,832 $ 22,377 $ 282,209 Aging of Receivables The aging of gross finance receivables was as follows: September 30, 2020 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 961,346 $ 199,565 $ 254,802 $ 22,096 $ 1,437,809 Past due amounts > 90 days 20,129 2,025 5,030 281 27,465 Total $ 981,475 $ 201,590 $ 259,832 $ 22,377 $ 1,465,274 Past due amounts > 90 days Still accruing interest $ 3,365 $ 699 $ 1,461 $ 58 $ 5,583 Not accruing interest 16,764 1,326 3,569 223 21,882 Total $ 20,129 $ 2,025 $ 5,030 $ 281 $ 27,465 December 31, 2019 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 1,032,912 $ 220,819 $ 294,001 $ 27,697 $ 1,575,429 Past due amounts > 90 days 22,940 3,383 4,246 229 30,798 Total $ 1,055,852 $ 224,202 $ 298,247 $ 27,926 $ 1,606,227 Past due amounts > 90 days Still accruing interest $ 4,835 $ 1,081 $ 2,094 $ 121 $ 8,131 Not accruing interest 18,105 2,302 2,152 108 22,667 Total $ 22,940 $ 3,383 $ 4,246 $ 229 $ 30,798 Allowance for Credit Losses We estimate an allowance for credit losses based on historical loss experience, the nature of our portfolios, adverse situations that may affect a client's ability to pay, current conditions, reasonable and supportable forecasts and current economic outlook. Credit losses are estimated at the portfolio level based on asset type and geographic market. Historical loss experience was based on actual loss rates over the average term of the asset of five years for sales-type lease receivables and three years for loan receivables (including accrued interest). Additionally, we evaluate current conditions and review third-party economic forecasts on a quarterly basis to determine the impact on the allowance for credit losses. The assumptions used in determining an estimate of credit losses are inherently subjective and actual results may differ significantly from estimated reserves. The allowance for credit losses at September 30, 2020 considers the current economic conditions and resulting impact on a client's future ability to pay amounts due. 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 monitor delinquency rates and have experienced a slight increase in our delinquencies during this current economic situation. However, 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 finance receivables was as follows: Sales-type Lease Receivables Loan Receivables North International North International Total Balance at December 31, 2019 $ 10,920 $ 2,085 $ 5,906 $ 740 $ 19,651 Cumulative effect of accounting change 9,271 1,750 (1,116) (402) 9,503 Amounts charged to expense 10,009 1,314 6,792 429 18,544 Write-offs (5,950) (548) (7,370) (343) (14,211) Recoveries 1,488 91 2,399 1 3,979 Currency impact 148 210 181 63 602 Balance at September 30, 2020 $ 25,886 $ 4,902 $ 6,792 $ 488 $ 38,068 Sales-type Lease Receivables Loan Receivables North International North International Total Balance at January 1, 2019 $ 10,253 $ 2,355 $ 6,777 $ 837 $ 20,222 Amounts charged to expense 4,587 801 3,547 440 9,375 Write-offs (5,153) (842) (6,882) (608) (13,485) Recoveries 1,286 157 2,746 9 4,198 Currency impact 199 (254) (172) 41 (186) Balance at September 30, 2019 $ 11,172 $ 2,217 $ 6,016 $ 719 $ 20,124 Credit Quality The extension of credit and management of credit lines to new and existing clients uses a combination of a client's credit score, where available, and a detailed manual review of their financial condition and payment history or an automated process for certain small dollar applications. 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 to 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. The relative scores are determined based on a number of factors, including financial information, payment history, company type and ownership structure. 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. The table below shows the gross sales-type lease receivable and loan receivable balances by relative risk class and year of origination based on the relative scores of the accounts within each class. Sales Type Lease Receivables Loan Receivables Total 2020 2019 2018 2017 2016 Prior Low $ 187,763 $ 230,942 $ 178,224 $ 101,307 $ 37,346 $ 15,488 $ 185,709 $ 936,779 Medium 39,810 58,779 42,501 24,903 10,491 3,924 59,422 239,830 High 5,752 6,219 4,722 2,605 1,344 184 4,617 25,443 Not Scored 55,694 79,125 53,395 28,611 12,207 1,729 32,461 263,222 Total $ 289,019 $ 375,065 $ 278,842 $ 157,426 $ 61,388 $ 21,325 $ 282,209 $ 1,465,274 The majority of the Not Scored amounts above is within our International portfolio. 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. International credit applications below $50 thousand are subjected to an automated review process. All other credit applications are manually reviewed. A manual review includes obtaining client financial information, credit reports and other available financial information. Approximately 80% of credit applications are approved or denied through the automated review process. Lease Income Lease income from sales-type leases was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Profit recognized at commencement (1) $ 29,169 $ 39,326 $ 80,349 $ 112,422 Interest income 33,654 56,522 101,969 174,045 Total lease income from sales-type leases $ 62,823 $ 95,848 $ 182,318 $ 286,467 (1) Lease contracts do not include variable lease payments. Lessor Operating Leases We also lease mailing equipment under operating leases with terms of one Remaining for year ending December 31, 2020 $ 17,351 Year ending December 31, 2021 36,396 Year ending December 31, 2022 13,688 Year ending December 31, 2023 7,172 Year ending December 31, 2024 2,100 Thereafter 399 Total $ 77,106

Intangible Assets, Goodwill and

Intangible Assets, Goodwill and Other Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Goodwill and Other Assets	Intangible Assets, Goodwill and Other Assets Intangible Assets Intangible assets consisted of the following: September 30, 2020 December 31, 2019 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 268,195 $ (108,338) $ 159,857 $ 265,665 $ (88,550) $ 177,115 Software & technology 31,600 (23,969) 7,631 31,600 (19,999) 11,601 Trademarks & other 13,324 (13,319) 5 13,324 (11,400) 1,924 Total intangible assets $ 313,119 $ (145,626) $ 167,493 $ 310,589 $ (119,949) $ 190,640 Amortization expense for the three months ended September 30, 2020 and 2019 was $8 million and $9 million, respectively, and amortization expense for the nine months ended September 30, 2020 and 2019 was $26 million and $27 million, respectively. Future amortization expense as of September 30, 2020 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, 2020 $ 7,683 Year ending December 31, 2021 30,265 Year ending December 31, 2022 29,315 Year ending December 31, 2023 26,465 Year ending December 31, 2024 26,465 Thereafter 47,300 Total $ 167,493 Goodwill Changes in the carrying value of goodwill, by reporting segment, are shown in the table below. December 31, 2019 Impairment Acquisition Currency impact September 30, Global Ecommerce $ 609,431 $ (198,169) $ — $ — $ 411,262 Presort Services 212,529 — 8,463 — 220,992 Commerce Services 821,960 (198,169) 8,463 — 632,254 SendTech Solutions 502,219 — — 7,671 509,890 Total goodwill $ 1,324,179 $ (198,169) $ 8,463 $ 7,671 $ 1,142,144 In the first quarter of 2020, we determined that the estimated fair value of the Global Ecommerce reporting unit was less than its carrying value and recorded a non-cash, pre-tax goodwill impairment charge of $198 million. At December 31, 2019, the fair value of our Global Ecommerce business exceeded its carrying value by less than 20%. During the first quarter of 2020, our Global Ecommerce reporting unit experienced weaker than expected performance, due in part to the deteriorating macroeconomic conditions and uncertainty brought on by COVID-19, causing us to evaluate the Global Ecommerce goodwill for impairment. To test the Global Ecommerce goodwill for impairment, we determined the fair value of the Global Ecommerce reporting unit and compared it to the reporting unit's carrying value, including goodwill. We engaged a third-party to assist in the determination of the fair value of the reporting unit. The determination of fair value, and the resulting impairment charge, relied on internal projections developed using numerous estimates and assumptions that are inherently subject to significant uncertainties. These estimates and assumptions included revenue growth, profitability, cash flows, capital spending and other available information. The determination of fair value also incorporated a risk-adjusted discount rate, terminal growth rates and other assumptions that market participants may use. Changes in any of these estimates or assumptions could materially affect the determination of fair value and the associated goodwill impairment charge and could result in an additional impairment charge in the future. These estimates and assumptions are considered Level 3 inputs under the fair value hierarchy. Other Assets Other assets at September 30, 2020 and December 31, 2019 includes long-term investments of $426 million and $289 million, respectively.

Fair Value Measurements and Der

Fair Value Measurements and Derivative Instruments	9 Months Ended
	Sep. 30, 2020
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. September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 116,806 $ 440,493 $ — $ 557,299 Equity securities — 22,555 — 22,555 Commingled fixed income securities 1,720 19,537 — 21,257 Government and related securities 17,408 18,601 — 36,009 Corporate debt securities — 82,959 — 82,959 Mortgage-backed / asset-backed securities — 275,352 — 275,352 Derivatives Foreign exchange contracts — 2,603 — 2,603 Total assets $ 135,934 $ 862,100 $ — $ 998,034 Liabilities: Derivatives Interest rate swaps $ — $ (2,908) $ — $ (2,908) Foreign exchange contracts — (1,086) — (1,086) Total liabilities $ — $ (3,994) $ — $ (3,994) December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 161,441 $ 240,364 $ — $ 401,805 Equity securities — 21,979 — 21,979 Commingled fixed income securities 1,656 18,404 — 20,060 Government and related securities 64,572 17,478 — 82,050 Corporate debt securities — 72,149 — 72,149 Mortgage-backed / asset-backed securities — 66,339 — 66,339 Derivatives Foreign exchange contracts — 3,256 — 3,256 Total assets $ 227,669 $ 439,969 $ — $ 667,638 Liabilities: Derivatives Foreign exchange contracts $ — $ (1,402) $ — $ (1,402) Total liabilities $ — $ (1,402) $ — $ (1,402) 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: 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. • 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 1 when unadjusted quoted prices in active markets are available and as Level 2 when they are not actively traded on an exchange. • 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. Derivative Securities • Foreign Exchange Contracts: 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. These securities are classified as Level 2. • Interest Rate Swaps: The valuation of interest rate swaps is based on an income approach using inputs that are observable or that can be derived from, or corroborated by, observable market data. These securities are classified as Level 2. Available-For-Sale Securities Available-for-sale securities are predominantly held at our wholly owned subsidiary, the Pitney Bowes Bank (the PB Bank). The PB Bank provides financing solutions to clients that rent or lease postage meters and purchase postage related supplies. The PB Bank also manages and invests excess undeployed deposits in bond investments. Investment securities classified as available-for-sale are recorded at fair value with changes in fair value due to market conditions (i.e., interest rates) recorded in accumulated other comprehensive income (AOCI), and changes in fair value due to credit conditions recorded in earnings. There were no unrealized losses due to credit losses charged to earnings through September 30, 2020. Available-for-sale securities consisted of the following: September 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 35,018 $ 144 $ (719) $ 34,443 Corporate debt securities 84,457 422 (1,920) 82,959 Commingled fixed income securities 1,699 21 — 1,720 Mortgage-backed / asset-backed securities 276,880 476 (2,004) 275,352 Total $ 398,054 $ 1,063 $ (4,643) $ 394,474 December 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 80,732 $ 1,358 $ (114) $ 81,976 Corporate debt securities 70,426 2,009 (286) 72,149 Commingled fixed income securities 1,675 — (19) 1,656 Mortgage-backed / asset-backed securities 65,679 960 (300) 66,339 Total $ 218,512 $ 4,327 $ (719) $ 222,120 Investment securities in a loss position were as follows: September 30, 2020 December 31, 2019 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Less than 12 continuous months $ 314,145 $ 4,543 $ 52,521 $ 583 Greater than 12 continuous months 3,157 100 9,227 136 Total $ 317,302 $ 4,643 $ 61,748 $ 719 At September 30, 2020, approximately 30% of total securities in the investment portfolio were in a net loss position. We believe our allowance for credit losses on available-for-sale investment securities is adequate as our investments are primarily in highly liquid U.S. government and agency securities, high grade corporate bonds and municipal bonds. We have not recognized an impairment on investment securities in an unrealized loss position because we have the ability and intent to hold these securities until recovery of the unrealized losses or expect to receive the stated principal and interest at maturity. Scheduled maturities of available-for-sale securities at September 30, 2020 were as follows: Amortized cost Estimated fair value Within 1 year $ 19,299 $ 19,379 After 1 year through 5 years 9,354 9,553 After 5 years through 10 years 54,448 53,476 After 10 years 314,953 312,066 Total $ 398,054 $ 394,474 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. Held-to-Maturity Securities Held-to-maturity securities at September 30, 2020 and December 31, 2019, include $25 million and $383 million, respectively, of short-term, highly liquid time deposits. Due to the short-term nature of these securities, the carrying value approximates fair value. 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. No amount of ineffectiveness was recorded in earnings for these designated cash flow hedges. At September 30, 2020 and December 31, 2019, we had outstanding contracts associated with these anticipated transactions with notional amounts of $9 million and $7 million, respectively. Amounts included in AOCI at September 30, 2020 will be recognized in earnings within the next 12 months. Interest Rate Swaps We have interest rate swap agreements with an aggregate notional amount of $500 million that are designated as cash flow hedges. The fair value of the interest rate swaps is recorded as a derivative asset or liability at the end of each reporting period with the change in fair value reflected in AOCI. The fair value of derivative instruments was as follows: Designation of Derivatives Balance Sheet Location September 30, December 31, Derivatives designated as Foreign exchange contracts Other current assets and prepayments $ 15 $ 207 Accounts payable and accrued liabilities (154) (56) Interest rate swaps Other noncurrent liabilities (2,908) — Derivatives not designated as Foreign exchange contracts Other current assets and prepayments 2,588 3,049 Accounts payable and accrued liabilities (932) (1,346) Total derivative assets $ 2,603 $ 3,256 Total derivative liabilities (3,994) (1,402) Total net derivative (liability) asset $ (1,391) $ 1,854 Results of cash flow hedging relationships were as follows: Three Months Ended September 30, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2020 2019 2020 2019 Foreign exchange contracts $ (80) $ 156 Revenue $ (104) $ (98) Cost of sales (6) 54 Interest rate swap (1,303) — Interest expense — — $ (1,383) $ 156 $ (110) $ (44) Nine Months Ended September 30, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2020 2019 2020 2019 Foreign exchange contracts $ (361) $ 181 Revenue $ (107) $ (23) Cost of sales 36 99 Interest rate swap (2,908) — Interest expense — — $ (3,269) $ 181 $ (71) $ 76 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. All outstanding contracts at September 30, 2020 mature within 12 months. The mark-to-market adjustments of non-designated derivative instruments were as follows: Three Months Ended September 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2020 2019 Foreign exchange contracts Selling, general and administrative expense $ 891 $ (11,385) Nine Months Ended September 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2020 2019 Foreign exchange contracts Selling, general and administrative expense $ (2,776) $ (6,181) Fair Value of Financial Instruments Financial instruments not reported at fair value on a recurring basis include cash and cash equivalents, accounts receivable, loan receivables, accounts payable and debt. The carrying value for cash and cash equivalents, accounts receivable, loans receivable and accounts payable approximate fair value. The fair value of debt is estimated based on recently executed transactions and market price quotations. The inputs used to determine the fair value of debt are classified as Level 2 in the fair value hierarchy. The carrying value and estimated fair value of debt was as follows: September 30, 2020 December 31, 2019 Carrying value $ 2,595,221 $ 2,739,722 Fair value $ 2,426,516 $ 2,572,794

Restructuring Charges and Asset

Restructuring Charges and Asset Impairments	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Charges and Asset Impairments	Restructuring Charges and Asset Impairments Restructuring Charges Activity in our restructuring reserves was as follows: Severance and benefits costs Other exit Total Balance at January 1, 2020 $ 11,937 $ 69 $ 12,006 Expenses, net 8,748 1,108 9,856 Cash payments (14,714) (1,155) (15,869) Balance at September 30, 2020 $ 5,971 $ 22 $ 5,993 Balance at January 1, 2019 $ 13,641 $ 1,808 $ 15,449 Expenses, net 12,498 845 13,343 Cash payments (16,362) (2,483) (18,845) Balance at September 30, 2019 $ 9,777 $ 170 $ 9,947 The majority of the restructuring reserves are expected to be paid over the next 12 to 24 months. Other Charges

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt Total debt consisted of the following: Interest rate September 30, 2020 December 31, 2019 Notes due October 2021 4.625% $ 170,253 $ 600,000 Notes due May 2022 5.375% 148,792 400,000 Notes due April 2023 5.70% 271,000 400,000 Notes due March 2024 4.625% 374,000 500,000 Notes due January 2037 5.25% 35,841 35,841 Notes due March 2043 6.70% 425,000 425,000 Term loan due November 2024 Variable 385,000 400,000 Term loan due January 2025 Variable 828,750 — Other debt 5,000 5,108 Principal amount 2,643,636 2,765,949 Less: unamortized costs, net 48,415 26,227 Total debt 2,595,221 2,739,722 Less: current portion long-term debt 63,509 20,108 Long-term debt $ 2,531,712 $ 2,719,614 Interest rates on certain notes are subject to adjustment based on changes in our credit ratings. As a result of credit rating downgrades in November 2019 and May 2020, the interest rates on the October 2021 notes and April 2023 notes increased 0.50% and the interest rate on the May 2022 notes increased 0.75% in the second quarter of 2020. Further, the interest rates on the October 2021 notes and April 2023 notes will increase an additional 0.25% in the fourth quarter of 2020. In February 2020, we secured a five In March 2020, we purchased under a tender offer $428 million of the October 2021 notes, $250 million of the May 2022 notes, $125 million of the April 2023 notes and $125 million of the March 2024 notes. A $37 million loss was incurred on the early redemption of debt. During the first nine months of 2020, we repaid $36 million of principal related to our term loans. We have a $500 million secured revolving credit facility that expires in November 2024 and contains financial and non-financial covenants. At September 30, 2020, we were in compliance with all covenants. In September 2020, we repaid the $100 million under the credit facility that we drew down in April 2020. At September 30, 2020 and December 31, 2019, there were no outstanding borrowings under this facility.

Pensions and Other Benefit Prog

Pensions and Other Benefit Programs	9 Months Ended
	Sep. 30, 2020
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 September 30, September 30, September 30, 2020 2019 2020 2019 2020 2019 Service cost $ 16 $ 20 $ 422 $ 385 $ 229 $ 242 Interest cost 12,719 15,792 3,548 4,435 1,255 1,646 Expected return on plan assets (20,932) (23,182) (8,297) (8,340) — — Amortization of transition credit — — (1) (2) — — Amortization of prior service (credit) cost (15) (15) 62 58 93 80 Amortization of net actuarial loss 7,972 6,537 2,092 1,543 926 507 Settlement 75 1,477 833 — — — Net periodic benefit (income) cost $ (165) $ 629 $ (1,341) $ (1,921) $ 2,503 $ 2,475 Contributions to benefit plans $ 2,061 $ 3,350 $ 445 $ 652 $ 2,422 $ 4,628 Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Nine Months Ended Nine Months Ended Nine Months Ended September 30, September 30, September 30, 2020 2019 2020 2019 2020 2019 Service cost $ 69 $ 62 $ 1,220 $ 1,157 $ 663 $ 725 Interest cost 39,077 47,378 10,473 13,231 3,742 4,937 Expected return on plan assets (63,539) (69,545) (24,474) (25,609) — — Amortization of transition credit — — (3) (5) — — Amortization of prior service (credit) cost (45) (45) 182 181 280 241 Amortization of net actuarial loss 24,367 19,610 6,156 4,727 2,400 1,521 Settlement 1,076 2,278 4,023 397 — — Net periodic benefit cost (income) $ 1,005 $ (262) $ (2,423) $ (5,921) $ 7,085 $ 7,424 Contributions to benefit plans $ 5,959 $ 7,401 $ 9,013 $ 9,740 $ 10,493 $ 13,841

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three and nine months ended September 30, 2020 was 4.9% and (3.8)%, respectively and includes a $3 million benefit, which is primarily due to regulations enacted into law during the quarter. The effective tax rate for the nine months ended September 30, 2020 also includes a $12 million charge for the surrender of company owned life insurance policies (see Note 8), a benefit of $2 million on the $198 million goodwill impairment charge as the majority of this charge is nondeductible, a benefit of $1 million from the resolution of certain tax examinations and a charge of $3 million for the write-off of deferred tax assets associated with the expiration of out-of-money vested stock options and the vesting of restricted stock. The effective tax rate for the three and nine months ended September 30, 2019 was 127.3% and (71.2)%, respectively, and includes a benefit of $23 million from the release of a foreign valuation allowance. The effective tax rate for the nine months ended September 30, 2019 also includes a $2 million tax on the $18 million book loss incurred from the disposition of operations in certain international markets, primarily due to nondeductible basis differences as well as a benefit of $6 million 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 10% of our unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
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 as of September 30, 2020. However, as litigation is inherently unpredictable, there can be no assurances in this regard. In December 2018 and then in February 2019, 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. Both of these are derivative claims related to a prior action filed in Connecticut state court, City of Livonia Retiree Health and Disability Benefits Plan v. Pitney Bowes Inc. et al. (“Livonia”). On October 24, 2019, the court had granted the defendants’ motions to dismiss the Livonia case, and that judgment is now final. Given that the defendants prevailed in the Livonia action, the plaintiffs in the Clem and Devolin actions moved to withdraw their complaints, and on February 20, 2020 the court granted the motions. Both cases have now been dismissed. We have entered into three equipment leases for our Commerce Services operations that will commence in the fourth quarter with terms ranging from seven

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Stockholders’ Equity	Stockholders’ Equity Changes in stockholders’ equity were as follows: Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at July 1, 2020 $ 323,338 $ 68,498 $ 5,188,119 $ (836,262) $ (4,699,113) $ 44,580 Net income — — 11,389 — — 11,389 Other comprehensive income — — — 22,690 — 22,690 Dividends paid ($0.05 per common share) — — (8,594) — — (8,594) Issuance of common stock — (9,272) — — 10,046 774 Stock-based compensation expense — 8,286 — — — 8,286 Balance at September 30, 2020 $ 323,338 $ 67,512 $ 5,190,914 $ (813,572) $ (4,689,067) $ 79,125 Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at July 1, 2019 $ 323,338 $ 105,341 $ 5,282,374 $ (907,678) $ (4,750,403) $ 52,972 Net loss — — (3,125) — — (3,125) Other comprehensive loss — — — (18,774) — (18,774) Dividends paid ($0.05 per common share) — — (8,508) — — (8,508) Issuance of common stock — (10,146) — — 11,291 1,145 Conversion to common stock — (246) — — 246 — Stock-based compensation expense — 6,702 — — — 6,702 Repurchase of common stock — — — — (5,000) (5,000) Balance at September 30, 2019 $ 323,338 $ 101,651 $ 5,270,741 $ (926,452) $ (4,743,866) $ 25,412 Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at January 1, 2020 $ 323,338 $ 98,748 $ 5,438,930 $ (840,143) $ (4,734,777) $ 286,096 Cumulative effect of accounting changes — — (21,900) — — (21,900) Net loss — — (200,423) — — (200,423) Other comprehensive income — — — 26,571 — 26,571 Dividends paid ($0.15 per common share) — — (25,693) — — (25,693) Issuance of common stock — (46,472) — — 45,710 (762) Stock-based compensation expense — 15,236 — — — 15,236 Balance at September 30, 2020 $ 323,338 $ 67,512 $ 5,190,914 $ (813,572) $ (4,689,067) $ 79,125 Preferred Preference 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 income — — — — 17,913 — — 17,913 Other comprehensive income — — — — — 22,509 — 22,509 Dividends paid ($0.15 per common share) — — — — (26,854) — — (26,854) Issuance of common stock — — — (32,877) — — 32,289 (588) Conversion to common stock — (130) — (2,804) — — 2,934 — Redemption of preferred/preference stock (1) (266) — (10) — — — (277) Stock-based compensation expense — — — 15,867 — — — 15,867 Repurchase of common stock — — — — — — (105,000) (105,000) Balance at September 30, 2019 $ — $ — $ 323,338 $ 101,651 $ 5,270,741 $ (926,452) $ (4,743,866) $ 25,412

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (AOCL)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Loss (AOCL)	Accumulated Other Comprehensive Loss (AOCL) Reclassifications out of AOCL were as follows: Gain (Loss) Reclassified from AOCL Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash flow hedges Revenue $ (104) $ (98) $ (107) $ (23) Cost of sales (6) 54 36 99 Total before tax (110) (44) (71) 76 Income tax (benefit) provision (27) (11) (18) 19 Net of tax $ (83) $ (33) $ (53) $ 57 Available-for-sale securities Financing revenue $ 6,490 $ 146 $ 10,060 $ 42 Selling, general and administrative expense 263 — 210 — Total before tax 6,753 146 10,270 42 Income tax provision 1,681 37 2,557 11 Net of tax $ 5,072 $ 109 $ 7,713 $ 31 Pension and postretirement benefit plans Transition credit $ 1 $ 2 $ 3 $ 5 Prior service costs (140) (123) (417) (377) Actuarial losses (10,990) (8,587) (32,923) (25,858) Settlement (908) (1,477) (5,099) (2,675) Total before tax (12,037) (10,185) (38,436) (28,905) Income tax benefit (2,875) (2,633) (9,027) (7,406) Net of tax $ (9,162) $ (7,552) $ (29,409) $ (21,499) Changes in AOCL were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2020 $ 337 $ 2,849 $ (819,018) $ (24,311) $ (840,143) Other comprehensive (loss) income before reclassifications (1) (2,455) 2,237 — 5,040 4,822 Reclassifications into earnings (1) 53 (7,713) 29,409 — 21,749 Net other comprehensive (loss) income (2,402) (5,476) 29,409 5,040 26,571 Balance at September 30, 2020 $ (2,065) $ (2,627) $ (789,609) $ (19,271) $ (813,572) 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 (loss) before reclassifications (1) 135 7,547 — (6,584) 1,098 Reclassifications into earnings (1) (57) (31) 21,499 — 21,411 Net other comprehensive income (loss) 78 7,516 21,499 (6,584) 22,509 Balance at September 30, 2019 $ 269 $ 4,455 $ (824,962) $ (106,214) $ (926,452)

Other (Income) Expense

Other (Income) Expense	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Other (Income) Expense	Other (income) expense Other (income) expense consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Loss on extinguishment of debt $ — $ 667 $ 36,987 $ 667 Insurance proceeds (6,325) — (15,292) — Gain on sale of equity investment — — (11,908) — Loss on sale of business — — — 17,683 Other (income) expense $ (6,325) $ 667 $ 9,787 $ 18,350

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Adopted in 2020 Effective January 1, 2020, we adopted Accounting Standards Update (ASU) 2016-13, Financial Instruments - Credit Losses . We adopted this standard using the modified retrospective transition approach with a cumulative effect adjustment to retained earnings. The ASU applies to financial assets measured at amortized cost, including finance receivables, trade and other receivables and investments in debt securities classified as available-for-sale and held-to-maturity. The ASU replaces the current incurred loss impairment model that recognizes losses when a probable threshold is met with a requirement to recognize lifetime expected credit losses immediately when a financial asset is originated or purchased. The models to estimate credit losses are required to be based on historical loss experience, current conditions, reasonable and supportable forecasts and current economic outlook. The adoption of the standard resulted in an increase in the opening reserve balance for accounts and other receivables of $15 million and the opening reserve balance for finance receivables of $10 million and a net reduction to retained earnings of $22 million. The impact of COVID-19 on global businesses and economies resulted in an increased probability of recessionary conditions, delinquency rates and business bankruptcy resulting in an additional $11 million provision in the first quarter of 2020. Through September 30, 2020, our credit loss provision was $35 million compared to $22 million through September 30, 2019. Accounting Pronouncements Not Yet Adopted In December 2019, the Financial Accounting Standards Board (FASB) issued ASU 2019-12, Simplifying the Accounting for Income Taxes . The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles and also clarifies and amends existing guidance. This standard is effective beginning January 1, 2021, with early adoption permitted. We do not expect this standard to have a material impact on our consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.

Description of Business and B_3

Description of Business and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounting Standards Update	Activity in the allowance for credit losses for accounts and other receivables for the nine months ended September 30, 2020 is presented below. See Note 7 for additional information pertaining to our finance receivables. Balance at December 31, 2019 Cumulative effect of accounting change Amounts charged to expense Write-offs, recoveries and currency impact Balance at Allowance for credit losses $ 17,830 $ 15,336 $ 16,856 $ (20,353) $ 29,669

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate our revenue by source and timing of recognition: Three Months Ended September 30, 2020 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 409,981 $ 127,705 $ 13,268 $ 550,954 $ — $ 550,954 Support services — — 117,519 117,519 — 117,519 Financing — — — — 86,218 86,218 Equipment sales — — 17,935 17,935 61,637 79,572 Supplies — — 39,635 39,635 — 39,635 Rentals — — — — 18,000 18,000 Subtotal 409,981 127,705 188,357 726,043 $ 165,855 $ 891,898 Revenue from leasing transactions and financing Financing — — 86,218 86,218 Equipment sales — — 61,637 61,637 Rentals — — 18,000 18,000 Total revenue $ 409,981 $ 127,705 $ 354,212 $ 891,898 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 73,602 $ 73,602 Products/services transferred over time 409,981 127,705 114,755 652,441 Total $ 409,981 $ 127,705 $ 188,357 $ 726,043 Three Months Ended September 30, 2019 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 278,995 $ 131,483 $ 8,623 $ 419,101 $ — $ 419,101 Support services — — 126,274 126,274 — 126,274 Financing — — — — 90,577 90,577 Equipment sales — — 19,062 19,062 70,556 89,618 Supplies — — 44,818 44,818 — 44,818 Rentals — — — — 19,737 19,737 Subtotal 278,995 131,483 198,777 609,255 $ 180,870 $ 790,125 Revenue from leasing transactions and financing Financing — — 90,577 90,577 Equipment sales — — 70,556 70,556 Rentals — — 19,737 19,737 Total revenue $ 278,995 $ 131,483 $ 379,647 $ 790,125 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 81,547 $ 81,547 Products/services transferred over time 278,995 131,483 117,230 527,708 Total $ 278,995 $ 131,483 $ 198,777 $ 609,255 Nine Months Ended September 30, 2020 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 1,100,757 $ 386,552 $ 37,014 $ 1,524,323 $ — $ 1,524,323 Support services — — 353,320 353,320 — 353,320 Financing — — — — 260,758 260,758 Equipment sales — — 49,556 49,556 164,126 213,682 Supplies — — 118,117 118,117 — 118,117 Rentals — — — — 55,458 55,458 Subtotal 1,100,757 386,552 558,007 2,045,316 $ 480,342 $ 2,525,658 Revenue from leasing transactions and financing Financing — — 260,758 260,758 Equipment sales — — 164,126 164,126 Rentals — — 55,458 55,458 Total revenue $ 1,100,757 $ 386,552 $ 1,038,349 $ 2,525,658 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 210,726 $ 210,726 Products/services transferred over time 1,100,757 386,552 347,281 1,834,590 Total $ 1,100,757 $ 386,552 $ 558,007 $ 2,045,316 Nine Months Ended September 30, 2019 Global Ecommerce Presort Services SendTech Solutions Revenue from products and services Revenue from leasing transactions and financing Total consolidated revenue Major products/service lines Business services $ 827,568 $ 394,468 $ 21,573 $ 1,243,609 $ — $ 1,243,609 Support services — — 382,578 382,578 — 382,578 Financing — — — — 280,039 280,039 Equipment sales — — 59,739 59,739 205,217 264,956 Supplies — — 142,261 142,261 — 142,261 Rentals — — — — 60,339 60,339 Subtotal 827,568 394,468 606,151 1,828,187 $ 545,595 $ 2,373,782 Revenue from leasing transactions and financing Financing — — 280,039 280,039 Equipment sales — — 205,217 205,217 Rentals — — 60,339 60,339 Total revenue $ 827,568 $ 394,468 $ 1,151,746 $ 2,373,782 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 251,214 $ 251,214 Products/services transferred over time 827,568 394,468 354,937 1,576,973 Total $ 827,568 $ 394,468 $ 606,151 $ 1,828,187
Contract Assets and Advance Billings	Advance Billings from Contracts with Customers Balance sheet location September 30, 2020 December 31, 2019 Increase/ (decrease) Advance billings, current Advance billings $ 94,454 $ 92,464 $ 1,990 Advance billings, noncurrent Other noncurrent liabilities $ 1,117 $ 1,245 $ (128)
Future Performance Obligations	The transaction prices allocated to future performance obligations will be recognized as follows: Remainder of 2020 2021 2022-2025 Total SendTech Solutions $ 73,963 $ 263,673 $ 388,235 $ 725,871

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated Statements	The following tables provide information about our reportable segments and reconciliation of segment EBIT to net income (loss). Revenue Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Global Ecommerce $ 409,981 $ 278,995 $ 1,100,757 $ 827,568 Presort Services 127,705 131,483 386,552 394,468 Commerce Services 537,686 410,478 1,487,309 1,222,036 SendTech Solutions 354,212 379,647 1,038,349 1,151,746 Total revenue $ 891,898 $ 790,125 $ 2,525,658 $ 2,373,782
Reconciliation of EBIT from Segments to Consolidated	EBIT Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Global Ecommerce $ (19,757) $ (21,793) $ (68,126) $ (51,969) Presort Services 14,481 17,687 42,758 48,215 Commerce Services (5,276) (4,106) (25,368) (3,754) SendTech Solutions 112,599 130,954 323,429 378,095 Total segment EBIT 107,323 126,848 298,061 374,341 Reconciliation of Segment EBIT to net income (loss): Unallocated corporate expenses (53,429) (58,277) (146,640) (160,283) Restructuring charges and asset impairments (3,766) (47,017) (12,505) (56,616) Interest expense, net (38,801) (39,730) (115,558) (117,758) Gain on sale of equity investment — — 11,908 — Goodwill impairment — — (198,169) — Loss on extinguishment of debt — (667) (36,987) (667) Loss on dispositions — — — (17,683) Transaction costs — (707) (641) (2,573) (Provision) benefit for income taxes (554) 24,895 (7,540) 13,351 Income (loss) from continuing operations 10,773 5,345 (208,071) 32,112 Income (loss) from discontinued operations, net of tax 616 (8,470) 7,648 (14,199) Net income (loss) $ 11,389 $ (3,125) $ (200,423) $ 17,913

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Financial information and Assets and Liabilities	Selected financial information of discontinued operations is as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Software Solutions Production Mail Total Software Solutions Production Mail Total Revenue $ — $ — $ — $ 73,620 $ — $ 73,620 Earnings from discontinued operations $ — $ — $ — $ 8,633 $ — $ 8,633 Gain (loss) on sale 474 — 474 (12,447) (5,710) (18,157) Income (loss) from discontinued operations before taxes $ 474 $ — 474 $ (3,814) $ (5,710) (9,524) Tax benefit (142) (1,054) Income (loss) from discontinued operations, net of tax $ 616 $ (8,470) Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Software Solutions Production Mail Total Software Solutions Production Mail Total Revenue $ — $ — $ — $ 219,144 $ — $ 219,144 Earnings (loss) from discontinued operations $ — $ — $ — $ 13,334 $ (663) $ 12,671 Gain (loss) on sale 7,343 (167) 7,176 (14,211) (14,967) (29,178) Income (loss) from discontinued operations before taxes $ 7,343 $ (167) 7,176 $ (877) $ (15,630) (16,507) Tax benefit (472) (2,308) Income (loss) from discontinued operations, net of tax $ 7,648 $ (14,199) Assets of discontinued operations and liabilities of discontinued operations at December 31, 2019 includes the assets and liabilities of the software business in Australia.

Earnings per Share (EPS) (Table

Earnings per Share (EPS) (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Income (loss) from continuing operations $ 10,773 $ 5,345 $ (208,071) $ 32,112 Income (loss) from discontinued operations, net of tax 616 (8,470) 7,648 (14,199) Net income (loss) (numerator for diluted EPS) 11,389 (3,125) (200,423) 17,913 Less: Preference stock dividend — — — 8 Income (loss) attributable to common stockholders (numerator for basic EPS) $ 11,389 $ (3,125) $ (200,423) $ 17,905 Denominator: Weighted-average shares used in basic EPS 171,828 170,326 171,388 178,048 Dilutive effect of common stock equivalents (1) 2,876 875 — 1,048 Weighted-average shares used in diluted EPS 174,704 171,201 171,388 179,096 Basic earnings (loss) per share (2) : Continuing operations $ 0.06 $ 0.03 $ (1.21) $ 0.18 Discontinued operations — (0.05) 0.04 (0.08) Net income (loss) $ 0.07 $ (0.02) $ (1.17) $ 0.10 Diluted earnings (loss) per share (2) : Continuing operations $ 0.06 $ 0.03 $ (1.21) $ 0.18 Discontinued operations — (0.05) 0.04 (0.08) Net income (loss) $ 0.07 $ (0.02) $ (1.17) $ 0.10 Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive: 14,828 16,182 15,855 16,166 (1) Dilutive effect of common stock equivalents for the nine months ended September 30, 2020 was 1,604 shares; however, this amount was not included in the calculation of diluted earnings per share as the impact would have been anti-dilutive. (2) The sum of the earnings per share amounts may not equal the totals due to rounding.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventory Components	Inventories consisted of the following: September 30, December 31, Raw materials $ 16,174 $ 13,514 Supplies and service parts 22,628 21,840 Finished products 31,957 36,969 Inventory at FIFO cost 70,759 72,323 Excess of FIFO cost over LIFO cost (3,785) (4,072) Total inventory, net $ 66,974 $ 68,251

Finance Assets and Lessor Ope_2

Finance Assets and Lessor Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Financing Receivables	Finance receivables consisted of the following: September 30, 2020 December 31, 2019 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 981,475 $ 201,590 $ 1,183,065 $ 1,055,852 $ 224,202 $ 1,280,054 Unguaranteed residual values 37,191 11,609 48,800 41,934 11,789 53,723 Unearned income (270,499) (58,811) (329,310) (319,281) (65,888) (385,169) Allowance for credit losses (25,886) (4,902) (30,788) (10,920) (2,085) (13,005) Net investment in sales-type lease receivables 722,281 149,486 871,767 767,585 168,018 935,603 Loan receivables Loan receivables 259,832 22,377 282,209 298,247 27,926 326,173 Allowance for credit losses (6,792) (488) (7,280) (5,906) (740) (6,646) Net investment in loan receivables 253,040 21,889 274,929 292,341 27,186 319,527 Net investment in finance receivables $ 975,321 $ 171,375 $ 1,146,696 $ 1,059,926 $ 195,204 $ 1,255,130
Sales-type Lease Maturity	Maturities of gross sales-type lease receivables and gross loan receivables at September 30, 2020 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remaining for year ending December 31, 2020 $ 114,724 $ 35,721 $ 150,445 $ 215,593 $ 22,377 $ 237,970 Year ending December 31, 2021 359,198 75,057 434,255 13,314 — 13,314 Year ending December 31, 2022 259,729 49,422 309,151 11,507 — 11,507 Year ending December 31, 2023 155,254 27,279 182,533 6,394 — 6,394 Year ending December 31, 2024 77,034 11,000 88,034 7,023 — 7,023 Thereafter 15,536 3,111 18,647 6,001 — 6,001 Total $ 981,475 $ 201,590 $ 1,183,065 $ 259,832 $ 22,377 $ 282,209
Loan Receivable Maturity	Maturities of gross sales-type lease receivables and gross loan receivables at September 30, 2020 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remaining for year ending December 31, 2020 $ 114,724 $ 35,721 $ 150,445 $ 215,593 $ 22,377 $ 237,970 Year ending December 31, 2021 359,198 75,057 434,255 13,314 — 13,314 Year ending December 31, 2022 259,729 49,422 309,151 11,507 — 11,507 Year ending December 31, 2023 155,254 27,279 182,533 6,394 — 6,394 Year ending December 31, 2024 77,034 11,000 88,034 7,023 — 7,023 Thereafter 15,536 3,111 18,647 6,001 — 6,001 Total $ 981,475 $ 201,590 $ 1,183,065 $ 259,832 $ 22,377 $ 282,209
Past Due Financing Receivables	The aging of gross finance receivables was as follows: September 30, 2020 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 961,346 $ 199,565 $ 254,802 $ 22,096 $ 1,437,809 Past due amounts > 90 days 20,129 2,025 5,030 281 27,465 Total $ 981,475 $ 201,590 $ 259,832 $ 22,377 $ 1,465,274 Past due amounts > 90 days Still accruing interest $ 3,365 $ 699 $ 1,461 $ 58 $ 5,583 Not accruing interest 16,764 1,326 3,569 223 21,882 Total $ 20,129 $ 2,025 $ 5,030 $ 281 $ 27,465 December 31, 2019 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 1,032,912 $ 220,819 $ 294,001 $ 27,697 $ 1,575,429 Past due amounts > 90 days 22,940 3,383 4,246 229 30,798 Total $ 1,055,852 $ 224,202 $ 298,247 $ 27,926 $ 1,606,227 Past due amounts > 90 days Still accruing interest $ 4,835 $ 1,081 $ 2,094 $ 121 $ 8,131 Not accruing interest 18,105 2,302 2,152 108 22,667 Total $ 22,940 $ 3,383 $ 4,246 $ 229 $ 30,798
Allowance for Credit Losses on Financing Receivables	Activity in the allowance for credit losses for finance receivables was as follows: Sales-type Lease Receivables Loan Receivables North International North International Total Balance at December 31, 2019 $ 10,920 $ 2,085 $ 5,906 $ 740 $ 19,651 Cumulative effect of accounting change 9,271 1,750 (1,116) (402) 9,503 Amounts charged to expense 10,009 1,314 6,792 429 18,544 Write-offs (5,950) (548) (7,370) (343) (14,211) Recoveries 1,488 91 2,399 1 3,979 Currency impact 148 210 181 63 602 Balance at September 30, 2020 $ 25,886 $ 4,902 $ 6,792 $ 488 $ 38,068 Sales-type Lease Receivables Loan Receivables North International North International Total Balance at January 1, 2019 $ 10,253 $ 2,355 $ 6,777 $ 837 $ 20,222 Amounts charged to expense 4,587 801 3,547 440 9,375 Write-offs (5,153) (842) (6,882) (608) (13,485) Recoveries 1,286 157 2,746 9 4,198 Currency impact 199 (254) (172) 41 (186) Balance at September 30, 2019 $ 11,172 $ 2,217 $ 6,016 $ 719 $ 20,124
Financing Receivable Credit Quality Indicators	The table below shows the gross sales-type lease receivable and loan receivable balances by relative risk class and year of origination based on the relative scores of the accounts within each class. Sales Type Lease Receivables Loan Receivables Total 2020 2019 2018 2017 2016 Prior Low $ 187,763 $ 230,942 $ 178,224 $ 101,307 $ 37,346 $ 15,488 $ 185,709 $ 936,779 Medium 39,810 58,779 42,501 24,903 10,491 3,924 59,422 239,830 High 5,752 6,219 4,722 2,605 1,344 184 4,617 25,443 Not Scored 55,694 79,125 53,395 28,611 12,207 1,729 32,461 263,222 Total $ 289,019 $ 375,065 $ 278,842 $ 157,426 $ 61,388 $ 21,325 $ 282,209 $ 1,465,274
Sales-type Lease, Lease Income	Lease income from sales-type leases was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Profit recognized at commencement (1) $ 29,169 $ 39,326 $ 80,349 $ 112,422 Interest income 33,654 56,522 101,969 174,045 Total lease income from sales-type leases $ 62,823 $ 95,848 $ 182,318 $ 286,467 (1) Lease contracts do not include variable lease payments.
Lessor, Payments to be Received	We also lease mailing equipment under operating leases with terms of one Remaining for year ending December 31, 2020 $ 17,351 Year ending December 31, 2021 36,396 Year ending December 31, 2022 13,688 Year ending December 31, 2023 7,172 Year ending December 31, 2024 2,100 Thereafter 399 Total $ 77,106

Intangible Assets, Goodwill a_2

Intangible Assets, Goodwill and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets consisted of the following: September 30, 2020 December 31, 2019 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 268,195 $ (108,338) $ 159,857 $ 265,665 $ (88,550) $ 177,115 Software & technology 31,600 (23,969) 7,631 31,600 (19,999) 11,601 Trademarks & other 13,324 (13,319) 5 13,324 (11,400) 1,924 Total intangible assets $ 313,119 $ (145,626) $ 167,493 $ 310,589 $ (119,949) $ 190,640
Amortization Expense In Future Periods	Future amortization expense as of September 30, 2020 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, 2020 $ 7,683 Year ending December 31, 2021 30,265 Year ending December 31, 2022 29,315 Year ending December 31, 2023 26,465 Year ending December 31, 2024 26,465 Thereafter 47,300 Total $ 167,493
Schedule of Goodwill	Changes in the carrying value of goodwill, by reporting segment, are shown in the table below. December 31, 2019 Impairment Acquisition Currency impact September 30, Global Ecommerce $ 609,431 $ (198,169) $ — $ — $ 411,262 Presort Services 212,529 — 8,463 — 220,992 Commerce Services 821,960 (198,169) 8,463 — 632,254 SendTech Solutions 502,219 — — 7,671 509,890 Total goodwill $ 1,324,179 $ (198,169) $ 8,463 $ 7,671 $ 1,142,144

Fair Value Measurements and D_2

Fair Value Measurements and Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
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. September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 116,806 $ 440,493 $ — $ 557,299 Equity securities — 22,555 — 22,555 Commingled fixed income securities 1,720 19,537 — 21,257 Government and related securities 17,408 18,601 — 36,009 Corporate debt securities — 82,959 — 82,959 Mortgage-backed / asset-backed securities — 275,352 — 275,352 Derivatives Foreign exchange contracts — 2,603 — 2,603 Total assets $ 135,934 $ 862,100 $ — $ 998,034 Liabilities: Derivatives Interest rate swaps $ — $ (2,908) $ — $ (2,908) Foreign exchange contracts — (1,086) — (1,086) Total liabilities $ — $ (3,994) $ — $ (3,994) December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 161,441 $ 240,364 $ — $ 401,805 Equity securities — 21,979 — 21,979 Commingled fixed income securities 1,656 18,404 — 20,060 Government and related securities 64,572 17,478 — 82,050 Corporate debt securities — 72,149 — 72,149 Mortgage-backed / asset-backed securities — 66,339 — 66,339 Derivatives Foreign exchange contracts — 3,256 — 3,256 Total assets $ 227,669 $ 439,969 $ — $ 667,638 Liabilities: Derivatives Foreign exchange contracts $ — $ (1,402) $ — $ (1,402) Total liabilities $ — $ (1,402) $ — $ (1,402)
Schedule of Available-for-sale Securities Reconciliation	Available-for-sale securities consisted of the following: September 30, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 35,018 $ 144 $ (719) $ 34,443 Corporate debt securities 84,457 422 (1,920) 82,959 Commingled fixed income securities 1,699 21 — 1,720 Mortgage-backed / asset-backed securities 276,880 476 (2,004) 275,352 Total $ 398,054 $ 1,063 $ (4,643) $ 394,474 December 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 80,732 $ 1,358 $ (114) $ 81,976 Corporate debt securities 70,426 2,009 (286) 72,149 Commingled fixed income securities 1,675 — (19) 1,656 Mortgage-backed / asset-backed securities 65,679 960 (300) 66,339 Total $ 218,512 $ 4,327 $ (719) $ 222,120
Schedule of Unrealized Holding Losses	Investment securities in a loss position were as follows: September 30, 2020 December 31, 2019 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Less than 12 continuous months $ 314,145 $ 4,543 $ 52,521 $ 583 Greater than 12 continuous months 3,157 100 9,227 136 Total $ 317,302 $ 4,643 $ 61,748 $ 719
Available-for-sale Securities	Scheduled maturities of available-for-sale securities at September 30, 2020 were as follows: Amortized cost Estimated fair value Within 1 year $ 19,299 $ 19,379 After 1 year through 5 years 9,354 9,553 After 5 years through 10 years 54,448 53,476 After 10 years 314,953 312,066 Total $ 398,054 $ 394,474
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair value of derivative instruments was as follows: Designation of Derivatives Balance Sheet Location September 30, December 31, Derivatives designated as Foreign exchange contracts Other current assets and prepayments $ 15 $ 207 Accounts payable and accrued liabilities (154) (56) Interest rate swaps Other noncurrent liabilities (2,908) — Derivatives not designated as Foreign exchange contracts Other current assets and prepayments 2,588 3,049 Accounts payable and accrued liabilities (932) (1,346) Total derivative assets $ 2,603 $ 3,256 Total derivative liabilities (3,994) (1,402) Total net derivative (liability) asset $ (1,391) $ 1,854
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	Results of cash flow hedging relationships were as follows: Three Months Ended September 30, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2020 2019 2020 2019 Foreign exchange contracts $ (80) $ 156 Revenue $ (104) $ (98) Cost of sales (6) 54 Interest rate swap (1,303) — Interest expense — — $ (1,383) $ 156 $ (110) $ (44) Nine Months Ended September 30, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2020 2019 2020 2019 Foreign exchange contracts $ (361) $ 181 Revenue $ (107) $ (23) Cost of sales 36 99 Interest rate swap (2,908) — Interest expense — — $ (3,269) $ 181 $ (71) $ 76
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	All outstanding contracts at September 30, 2020 mature within 12 months. The mark-to-market adjustments of non-designated derivative instruments were as follows: Three Months Ended September 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2020 2019 Foreign exchange contracts Selling, general and administrative expense $ 891 $ (11,385) Nine Months Ended September 30, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2020 2019 Foreign exchange contracts Selling, general and administrative expense $ (2,776) $ (6,181)
Fair Value, by Balance Sheet Grouping	The carrying value and estimated fair value of debt was as follows: September 30, 2020 December 31, 2019 Carrying value $ 2,595,221 $ 2,739,722 Fair value $ 2,426,516 $ 2,572,794

Restructuring Charges and Ass_2

Restructuring Charges and Asset Impairments (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Activity in our restructuring reserves was as follows: Severance and benefits costs Other exit Total Balance at January 1, 2020 $ 11,937 $ 69 $ 12,006 Expenses, net 8,748 1,108 9,856 Cash payments (14,714) (1,155) (15,869) Balance at September 30, 2020 $ 5,971 $ 22 $ 5,993 Balance at January 1, 2019 $ 13,641 $ 1,808 $ 15,449 Expenses, net 12,498 845 13,343 Cash payments (16,362) (2,483) (18,845) Balance at September 30, 2019 $ 9,777 $ 170 $ 9,947

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Total debt consisted of the following: Interest rate September 30, 2020 December 31, 2019 Notes due October 2021 4.625% $ 170,253 $ 600,000 Notes due May 2022 5.375% 148,792 400,000 Notes due April 2023 5.70% 271,000 400,000 Notes due March 2024 4.625% 374,000 500,000 Notes due January 2037 5.25% 35,841 35,841 Notes due March 2043 6.70% 425,000 425,000 Term loan due November 2024 Variable 385,000 400,000 Term loan due January 2025 Variable 828,750 — Other debt 5,000 5,108 Principal amount 2,643,636 2,765,949 Less: unamortized costs, net 48,415 26,227 Total debt 2,595,221 2,739,722 Less: current portion long-term debt 63,509 20,108 Long-term debt $ 2,531,712 $ 2,719,614

Pensions and Other Benefit Pr_2

Pensions and Other Benefit Programs (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, September 30, September 30, 2020 2019 2020 2019 2020 2019 Service cost $ 16 $ 20 $ 422 $ 385 $ 229 $ 242 Interest cost 12,719 15,792 3,548 4,435 1,255 1,646 Expected return on plan assets (20,932) (23,182) (8,297) (8,340) — — Amortization of transition credit — — (1) (2) — — Amortization of prior service (credit) cost (15) (15) 62 58 93 80 Amortization of net actuarial loss 7,972 6,537 2,092 1,543 926 507 Settlement 75 1,477 833 — — — Net periodic benefit (income) cost $ (165) $ 629 $ (1,341) $ (1,921) $ 2,503 $ 2,475 Contributions to benefit plans $ 2,061 $ 3,350 $ 445 $ 652 $ 2,422 $ 4,628 Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Nine Months Ended Nine Months Ended Nine Months Ended September 30, September 30, September 30, 2020 2019 2020 2019 2020 2019 Service cost $ 69 $ 62 $ 1,220 $ 1,157 $ 663 $ 725 Interest cost 39,077 47,378 10,473 13,231 3,742 4,937 Expected return on plan assets (63,539) (69,545) (24,474) (25,609) — — Amortization of transition credit — — (3) (5) — — Amortization of prior service (credit) cost (45) (45) 182 181 280 241 Amortization of net actuarial loss 24,367 19,610 6,156 4,727 2,400 1,521 Settlement 1,076 2,278 4,023 397 — — Net periodic benefit cost (income) $ 1,005 $ (262) $ (2,423) $ (5,921) $ 7,085 $ 7,424 Contributions to benefit plans $ 5,959 $ 7,401 $ 9,013 $ 9,740 $ 10,493 $ 13,841

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	Changes in stockholders’ equity were as follows: Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at July 1, 2020 $ 323,338 $ 68,498 $ 5,188,119 $ (836,262) $ (4,699,113) $ 44,580 Net income — — 11,389 — — 11,389 Other comprehensive income — — — 22,690 — 22,690 Dividends paid ($0.05 per common share) — — (8,594) — — (8,594) Issuance of common stock — (9,272) — — 10,046 774 Stock-based compensation expense — 8,286 — — — 8,286 Balance at September 30, 2020 $ 323,338 $ 67,512 $ 5,190,914 $ (813,572) $ (4,689,067) $ 79,125 Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at July 1, 2019 $ 323,338 $ 105,341 $ 5,282,374 $ (907,678) $ (4,750,403) $ 52,972 Net loss — — (3,125) — — (3,125) Other comprehensive loss — — — (18,774) — (18,774) Dividends paid ($0.05 per common share) — — (8,508) — — (8,508) Issuance of common stock — (10,146) — — 11,291 1,145 Conversion to common stock — (246) — — 246 — Stock-based compensation expense — 6,702 — — — 6,702 Repurchase of common stock — — — — (5,000) (5,000) Balance at September 30, 2019 $ 323,338 $ 101,651 $ 5,270,741 $ (926,452) $ (4,743,866) $ 25,412 Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at January 1, 2020 $ 323,338 $ 98,748 $ 5,438,930 $ (840,143) $ (4,734,777) $ 286,096 Cumulative effect of accounting changes — — (21,900) — — (21,900) Net loss — — (200,423) — — (200,423) Other comprehensive income — — — 26,571 — 26,571 Dividends paid ($0.15 per common share) — — (25,693) — — (25,693) Issuance of common stock — (46,472) — — 45,710 (762) Stock-based compensation expense — 15,236 — — — 15,236 Balance at September 30, 2020 $ 323,338 $ 67,512 $ 5,190,914 $ (813,572) $ (4,689,067) $ 79,125 Preferred Preference 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 income — — — — 17,913 — — 17,913 Other comprehensive income — — — — — 22,509 — 22,509 Dividends paid ($0.15 per common share) — — — — (26,854) — — (26,854) Issuance of common stock — — — (32,877) — — 32,289 (588) Conversion to common stock — (130) — (2,804) — — 2,934 — Redemption of preferred/preference stock (1) (266) — (10) — — — (277) Stock-based compensation expense — — — 15,867 — — — 15,867 Repurchase of common stock — — — — — — (105,000) (105,000) Balance at September 30, 2019 $ — $ — $ 323,338 $ 101,651 $ 5,270,741 $ (926,452) $ (4,743,866) $ 25,412

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (AOCL) (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCL were as follows: Gain (Loss) Reclassified from AOCL Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Cash flow hedges Revenue $ (104) $ (98) $ (107) $ (23) Cost of sales (6) 54 36 99 Total before tax (110) (44) (71) 76 Income tax (benefit) provision (27) (11) (18) 19 Net of tax $ (83) $ (33) $ (53) $ 57 Available-for-sale securities Financing revenue $ 6,490 $ 146 $ 10,060 $ 42 Selling, general and administrative expense 263 — 210 — Total before tax 6,753 146 10,270 42 Income tax provision 1,681 37 2,557 11 Net of tax $ 5,072 $ 109 $ 7,713 $ 31 Pension and postretirement benefit plans Transition credit $ 1 $ 2 $ 3 $ 5 Prior service costs (140) (123) (417) (377) Actuarial losses (10,990) (8,587) (32,923) (25,858) Settlement (908) (1,477) (5,099) (2,675) Total before tax (12,037) (10,185) (38,436) (28,905) Income tax benefit (2,875) (2,633) (9,027) (7,406) Net of tax $ (9,162) $ (7,552) $ (29,409) $ (21,499)
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in AOCL were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2020 $ 337 $ 2,849 $ (819,018) $ (24,311) $ (840,143) Other comprehensive (loss) income before reclassifications (1) (2,455) 2,237 — 5,040 4,822 Reclassifications into earnings (1) 53 (7,713) 29,409 — 21,749 Net other comprehensive (loss) income (2,402) (5,476) 29,409 5,040 26,571 Balance at September 30, 2020 $ (2,065) $ (2,627) $ (789,609) $ (19,271) $ (813,572) 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 (loss) before reclassifications (1) 135 7,547 — (6,584) 1,098 Reclassifications into earnings (1) (57) (31) 21,499 — 21,411 Net other comprehensive income (loss) 78 7,516 21,499 (6,584) 22,509 Balance at September 30, 2019 $ 269 $ 4,455 $ (824,962) $ (106,214) $ (926,452)

Other (Income) Expense (Tables)

Other (Income) Expense (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Schedule of Other (Income) Expense	Other (income) expense consisted of the following: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Loss on extinguishment of debt $ — $ 667 $ 36,987 $ 667 Insurance proceeds (6,325) — (15,292) — Gain on sale of equity investment — — (11,908) — Loss on sale of business — — — 17,683 Other (income) expense $ (6,325) $ 667 $ 9,787 $ 18,350

Description of Business and B_4

Description of Business and Basis of Presentation (Details) $ in Millions	1 Months Ended
	Jan. 31, 2020USD ($)market	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other receivables		$ 60	$ 91
Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other receivables	$ 20
Number of smaller markets sold | market	6

Description of Business and B_5

Description of Business and Basis of Presentation (Accounting Pronouncements) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts and other receivables		$ 348,565			$ 373,471
Allowance for credit losses		38,068	$ 20,124		19,651	$ 20,222
Retained earnings		(5,190,914)			(5,438,930)
Provision for credit losses	$ 11,000	35,000	22,000
Allowance for credit losses
Balance at December 31, 2019	17,830	17,830
Amounts charged to expense		35,400	$ 22,131
Balance at September 30, 2020		29,669
Cumulative Effect
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses					$ 9,503
ASU 2016-13
Allowance for credit losses
Balance at December 31, 2019	17,830	17,830
Amounts charged to expense		16,856
Write-offs, recoveries and currency impact		(20,353)
Balance at September 30, 2020		29,669
ASU 2016-13 | Adjusted Balance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts and other receivables				$ 15,000
Allowance for credit losses				10,000
Retained earnings				$ 22,000
ASU 2016-13 | Cumulative Effect
Allowance for credit losses
Balance at December 31, 2019	$ 15,336	$ 15,336

Revenue (Disaggregates of Reven

Revenue (Disaggregates of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	$ 891,898	$ 790,125	$ 2,525,658	$ 2,373,782
Total consolidated revenue	891,898	790,125	2,525,658	2,373,782
ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	726,043	609,255	2,045,316	1,828,187
Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	73,602	81,547	210,726	251,214
Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	652,441	527,708	1,834,590	1,576,973
Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	726,043	609,255	2,045,316	1,828,187
Revenue from leasing transactions and financing	165,855	180,870	480,342	545,595
Total consolidated revenue	891,898	790,125	2,525,658	2,373,782
Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	550,954	419,101	1,524,323	1,243,609
Revenue from leasing transactions and financing	0	0	0	0
Total consolidated revenue	550,954	419,101	1,524,323	1,243,609
Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	117,519	126,274	353,320	382,578
Revenue from leasing transactions and financing	0	0	0	0
Total consolidated revenue	117,519	126,274	353,320	382,578
Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	86,218	90,577	260,758	280,039
Total consolidated revenue	86,218	90,577	260,758	280,039
Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	17,935	19,062	49,556	59,739
Revenue from leasing transactions and financing	61,637	70,556	164,126	205,217
Total consolidated revenue	79,572	89,618	213,682	264,956
Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	39,635	44,818	118,117	142,261
Revenue from leasing transactions and financing	0	0	0	0
Total consolidated revenue	39,635	44,818	118,117	142,261
Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	18,000	19,737	55,458	60,339
Total consolidated revenue	18,000	19,737	55,458	60,339
Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	409,981	278,995	1,100,757	827,568
Global Ecommerce | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	409,981	278,995	1,100,757	827,568
Global Ecommerce | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Global Ecommerce | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	409,981	278,995	1,100,757	827,568
Global Ecommerce | Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	409,981	278,995	1,100,757	827,568
Global Ecommerce | Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	409,981	278,995	1,100,757	827,568
Global Ecommerce | Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Global Ecommerce | Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	0	0	0	0
Global Ecommerce | Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	0	0	0	0
Global Ecommerce | Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Global Ecommerce | Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	0	0	0	0
Presort Services
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	127,705	131,483	386,552	394,468
Presort Services | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	127,705	131,483	386,552	394,468
Presort Services | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Presort Services | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	127,705	131,483	386,552	394,468
Presort Services | Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	127,705	131,483	386,552	394,468
Presort Services | Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	127,705	131,483	386,552	394,468
Presort Services | Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Presort Services | Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	0	0	0	0
Presort Services | Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	0	0	0	0
Presort Services | Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Presort Services | Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	0	0	0	0
SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	354,212	379,647	1,038,349	1,151,746
SendTech Solutions | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	188,357	198,777	558,007	606,151
SendTech Solutions | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	73,602	81,547	210,726	251,214
SendTech Solutions | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	114,755	117,230	347,281	354,937
SendTech Solutions | Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	188,357	198,777	558,007	606,151
SendTech Solutions | Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	13,268	8,623	37,014	21,573
SendTech Solutions | Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	117,519	126,274	353,320	382,578
SendTech Solutions | Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	86,218	90,577	260,758	280,039
SendTech Solutions | Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	17,935	19,062	49,556	59,739
Revenue from leasing transactions and financing	61,637	70,556	164,126	205,217
SendTech Solutions | Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	39,635	44,818	118,117	142,261
SendTech Solutions | Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0	0	0
Revenue from leasing transactions and financing	$ 18,000	$ 19,737	$ 55,458	$ 60,339

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Advanced billings, revenue recognized	$ 78
Lease transactions	$ 8	$ 9
Expected timing of satisfaction period	12 months
Business services | Minimum
Disaggregation of Revenue [Line Items]
Period of recognition	1 year
Business services | Maximum
Disaggregation of Revenue [Line Items]
Period of recognition	5 years

Revenue (Contract Assets and Ad

Revenue (Contract Assets and Advance Billings) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Advance billings, current	$ 94,454	$ 92,464
Advance billings, noncurrent	1,117	$ 1,245
Increase/ (decrease)
Advance billings, current	1,990
Advance billings, noncurrent	$ (128)

Revenue (Future Performance Obl

Revenue (Future Performance Obligations) (Details) $ in Thousands	Sep. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Future performance obligations	$ 725,871
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue from Contract with Customer [Abstract]
Future performance obligations	$ 73,963
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Future performance obligations	$ 263,673
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Future performance obligations	$ 388,235
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	3 years

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended				9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment reporting information profit (loss)
Revenue		$ 891,898			$ 790,125	$ 2,525,658	$ 2,373,782
Reconciliation of Segment EBIT to net income (loss):
Restructuring charges and asset impairments		(3,766)			(47,017)	(12,505)	(56,616)
Interest expense, net		(27,175)			(28,704)	(79,504)	(84,325)
Gain on sale of equity investment			$ 12,000			21,969	0
Goodwill impairment		0			0	(198,169)	0
Loss on extinguishment of debt	$ (37,000)	0			(667)	(36,987)	(667)
(Provision) benefit for income taxes		(554)			24,895	(7,540)	13,351
Income (loss) from continuing operations		10,773			5,345	(208,071)	32,112
Income (loss) from discontinued operations, net of tax		616			(8,470)	7,648	(14,199)
Net income (loss)		11,389			(3,125)	(200,423)	17,913
Operating Segments
Segment reporting information profit (loss)
EBIT		107,323			126,848	298,061	374,341
Segment Reconciling Items
Reconciliation of Segment EBIT to net income (loss):
Unallocated corporate expenses		(53,429)			(58,277)	(146,640)	(160,283)
Restructuring charges and asset impairments		(3,766)			(47,017)	(12,505)	(56,616)
Interest expense, net		(38,801)			(39,730)	(115,558)	(117,758)
Gain on sale of equity investment		0			0	11,908	0
Goodwill impairment		0			0	(198,169)	0
Loss on extinguishment of debt		0			(667)	(36,987)	(667)
Loss on dispositions		0			0	0	(17,683)
Transaction costs		0			(707)	(641)	(2,573)
(Provision) benefit for income taxes		(554)			24,895	(7,540)	13,351
Insurance claim		6,000				15,000
Commerce Services
Segment reporting information profit (loss)
Revenue from contracts with customers		537,686			410,478	1,487,309	1,222,036
Reconciliation of Segment EBIT to net income (loss):
Goodwill impairment						(198,169)
Commerce Services | Operating Segments
Segment reporting information profit (loss)
EBIT		(5,276)			(4,106)	(25,368)	(3,754)
Commerce Services | Global Ecommerce
Segment reporting information profit (loss)
Revenue from contracts with customers		409,981			278,995	1,100,757	827,568
EBIT		(19,757)			(21,793)	(68,126)	(51,969)
Reconciliation of Segment EBIT to net income (loss):
Goodwill impairment				$ (198,000)		(198,169)
Commerce Services | Presort Services
Segment reporting information profit (loss)
Revenue from contracts with customers		127,705			131,483	386,552	394,468
EBIT		14,481			17,687	42,758	48,215
Reconciliation of Segment EBIT to net income (loss):
Goodwill impairment						0
SendTech Solutions
Segment reporting information profit (loss)
Revenue from contracts with customers		354,212			379,647	1,038,349	1,151,746
Reconciliation of Segment EBIT to net income (loss):
Goodwill impairment						0
SendTech Solutions | Operating Segments
Segment reporting information profit (loss)
EBIT		$ 112,599			$ 130,954	$ 323,429	$ 378,095

Discontinued Operations (Financ

Discontinued Operations (Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	$ 616	$ (8,470)	$ 7,648	$ (14,199)
Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	0	73,620	0	219,144
Earnings (loss) from discontinued operations	0	8,633	0	12,671
Gain (loss) on sale	474	(18,157)	7,176	(29,178)
Income (loss) from discontinued operations before taxes	474	(9,524)	7,176	(16,507)
Tax benefit	(142)	(1,054)	(472)	(2,308)
Income (loss) from discontinued operations, net of tax	616	(8,470)	7,648	(14,199)
Software Solutions | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	0	73,620	0	219,144
Earnings (loss) from discontinued operations	0	8,633	0	13,334
Gain (loss) on sale	474	(12,447)	7,343	(14,211)
Income (loss) from discontinued operations before taxes	474	(3,814)	7,343	(877)
Production Mail | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	0	0	0	0
Earnings (loss) from discontinued operations	0	0	0	(663)
Gain (loss) on sale	0	(5,710)	(167)	(14,967)
Income (loss) from discontinued operations before taxes	$ 0	$ (5,710)	$ (167)	$ (15,630)

Earnings per Share (EPS) (Detai

Earnings per Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Income (loss) from continuing operations		$ 10,773	$ 5,345	$ (208,071)	$ 32,112
Numerator:
Income (loss) from discontinued operations, net of tax		616	(8,470)	7,648	(14,199)
Net income (loss)		11,389	(3,125)	(200,423)	17,913
Less: Preference stock dividend		0	0	0	8
Income (loss) attributable to common stockholders (numerator for basic EPS)		$ 11,389	$ (3,125)	$ (200,423)	$ 17,905
Denominator:
Weighted-average shares used in basic EPS (in shares)		171,828,000	170,326,000	171,388,000	178,048,000
Dilutive effect of common stock equivalents (in shares)		2,876,000	875,000	0	1,048,000
Weighted-average shares used in diluted EPS (in shares)		174,704,000	171,201,000	171,388,000	179,096,000
Basic earnings (loss) per share:
Continuing operations (in dollars per share)	[1]	$ 0.06	$ 0.03	$ (1.21)	$ 0.18
Discontinued operations (in dollars per share)	[1]	0	(0.05)	0.04	(0.08)
Net (loss) income (in dollars per share)	[1]	0.07	(0.02)	(1.17)	0.10
Diluted earnings (loss) per share:
Continuing operations (in dollars per share)	[1]	0.06	0.03	(1.21)	0.18
Discontinued operations (in dollars per share)	[1]	0	(0.05)	0.04	(0.08)
Net (loss) income (in dollars per share)	[1]	$ 0.07	$ (0.02)	$ (1.17)	$ 0.10
Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive (in shares)		14,828,000	16,182,000	15,855,000	16,166,000
Dilutive effect of common stock equivalents				1,604,000
[1]	The sum of the earnings per share amounts may not equal the totals due to rounding.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 16,174	$ 13,514
Supplies and service parts	22,628	21,840
Finished products	31,957	36,969
Inventory at FIFO cost	70,759	72,323
Excess of FIFO cost over LIFO cost	(3,785)	(4,072)
Total inventory, net	$ 66,974	$ 68,251

Finance Assets and Lessor Ope_3

Finance Assets and Lessor Operating Leases (Finance Receivables) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (38,068)	$ (19,651)	$ (20,124)	$ (20,222)
Net investment in receivables	1,146,696	1,255,130
North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	975,321	1,059,926
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	171,375	195,204
Sales-type lease receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,183,065	1,280,054
Unguaranteed residual values	48,800	53,723
Unearned income	(329,310)	(385,169)
Allowance for credit losses	(30,788)	(13,005)
Net investment in receivables	871,767	935,603
Sales-type lease receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	981,475	1,055,852
Unguaranteed residual values	37,191	41,934
Unearned income	(270,499)	(319,281)
Allowance for credit losses	(25,886)	(10,920)	(11,172)	(10,253)
Net investment in receivables	722,281	767,585
Sales-type lease receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	201,590	224,202
Unguaranteed residual values	11,609	11,789
Unearned income	(58,811)	(65,888)
Allowance for credit losses	(4,902)	(2,085)	(2,217)	(2,355)
Net investment in receivables	149,486	168,018
Loan receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	282,209	326,173
Allowance for credit losses	(7,280)	(6,646)
Net investment in receivables	274,929	319,527
Loan receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	259,832	298,247
Allowance for credit losses	(6,792)	(5,906)	(6,016)	(6,777)
Net investment in receivables	253,040	292,341
Loan receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	22,377	27,926
Allowance for credit losses	(488)	(740)	$ (719)	$ (837)
Net investment in receivables	$ 21,889	$ 27,186
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 and Loan Receivables) (Details) $ in Thousands	Sep. 30, 2020USD ($)
Sales-type Lease Receivables
Remaining for year ending December 31, 2020	$ 150,445
Year ending December 31, 2021	434,255
Year ending December 31, 2022	309,151
Year ending December 31, 2023	182,533
Year ending December 31, 2024	88,034
Thereafter	18,647
Total	1,183,065
Loan Receivables
Remaining for year ending December 31, 2020	237,970
Year ending December 31, 2021	13,314
Year ending December 31, 2022	11,507
Year ending December 31, 2023	6,394
Year ending December 31, 2024	7,023
Thereafter	6,001
Total	282,209
North America
Sales-type Lease Receivables
Remaining for year ending December 31, 2020	114,724
Year ending December 31, 2021	359,198
Year ending December 31, 2022	259,729
Year ending December 31, 2023	155,254
Year ending December 31, 2024	77,034
Thereafter	15,536
Total	981,475
Loan Receivables
Remaining for year ending December 31, 2020	215,593
Year ending December 31, 2021	13,314
Year ending December 31, 2022	11,507
Year ending December 31, 2023	6,394
Year ending December 31, 2024	7,023
Thereafter	6,001
Total	259,832
International
Sales-type Lease Receivables
Remaining for year ending December 31, 2020	35,721
Year ending December 31, 2021	75,057
Year ending December 31, 2022	49,422
Year ending December 31, 2023	27,279
Year ending December 31, 2024	11,000
Thereafter	3,111
Total	201,590
Loan Receivables
Remaining for year ending December 31, 2020	22,377
Year ending December 31, 2021	0
Year ending December 31, 2022	0
Year ending December 31, 2023	0
Year ending December 31, 2024	0
Thereafter	0
Total	$ 22,377

Finance Assets and Lessor Ope_5

Finance Assets and Lessor Operating Leases (Aging of Receivables) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total	$ 1,465,274	$ 1,606,227
Still accruing interest	5,583	8,131
Not accruing interest	21,882	22,667
Total	27,465	30,798
1 - 90 days
Financing Receivable, Past Due [Line Items]
Past due	1,437,809	1,575,429
Greater than 90 days
Financing Receivable, Past Due [Line Items]
Past due	27,465	30,798
Sales-type lease receivables | North America
Financing Receivable, Past Due [Line Items]
Total	981,475	1,055,852
Still accruing interest	3,365	4,835
Not accruing interest	16,764	18,105
Total	20,129	22,940
Sales-type lease receivables | North America | 1 - 90 days
Financing Receivable, Past Due [Line Items]
Past due	961,346	1,032,912
Sales-type lease receivables | North America | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Past due	20,129	22,940
Sales-type lease receivables | International
Financing Receivable, Past Due [Line Items]
Total	201,590	224,202
Still accruing interest	699	1,081
Not accruing interest	1,326	2,302
Total	2,025	3,383
Sales-type lease receivables | International | 1 - 90 days
Financing Receivable, Past Due [Line Items]
Past due	199,565	220,819
Sales-type lease receivables | International | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Past due	2,025	3,383
Loan receivables
Financing Receivable, Past Due [Line Items]
Total	282,209
Loan receivables | North America
Financing Receivable, Past Due [Line Items]
Total	259,832	298,247
Still accruing interest	1,461	2,094
Not accruing interest	3,569	2,152
Total	5,030	4,246
Loan receivables | North America | 1 - 90 days
Financing Receivable, Past Due [Line Items]
Past due	254,802	294,001
Loan receivables | North America | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Past due	5,030	4,246
Loan receivables | International
Financing Receivable, Past Due [Line Items]
Total	22,377	27,926
Still accruing interest	58	121
Not accruing interest	223	108
Total	281	229
Loan receivables | International | 1 - 90 days
Financing Receivable, Past Due [Line Items]
Past due	22,096	27,697
Loan receivables | International | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Past due	$ 281	$ 229

Finance Assets and Lessor Ope_6

Finance Assets and Lessor Operating Leases (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Revenue recognition resume period (less than)	60 days
Allowance for Credit Losses
Beginning Balance	$ 19,651	$ 20,222
Amounts charged to expense	18,544	9,375
Write-offs	(14,211)	(13,485)
Recoveries	3,979	4,198
Currency impact	602	(186)
Ending Balance	38,068	20,124
Cumulative Effect
Allowance for Credit Losses
Beginning Balance	$ 9,503
Sales-type lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Average term	5 years
Revenue recognition discontinuation period (more than)	120 days
Allowance for Credit Losses
Beginning Balance	$ 13,005
Ending Balance	30,788
Sales-type lease receivables | North America
Allowance for Credit Losses
Beginning Balance	10,920	10,253
Amounts charged to expense	10,009	4,587
Write-offs	(5,950)	(5,153)
Recoveries	1,488	1,286
Currency impact	148	199
Ending Balance	25,886	11,172
Sales-type lease receivables | North America | Cumulative Effect
Allowance for Credit Losses
Beginning Balance	9,271
Sales-type lease receivables | International
Allowance for Credit Losses
Beginning Balance	2,085	2,355
Amounts charged to expense	1,314	801
Write-offs	(548)	(842)
Recoveries	91	157
Currency impact	210	(254)
Ending Balance	4,902	2,217
Sales-type lease receivables | International | Cumulative Effect
Allowance for Credit Losses
Beginning Balance	$ 1,750
Loan receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Average term	3 years
Revenue recognition discontinuation period (more than)	90 days
Allowance for Credit Losses
Beginning Balance	$ 6,646
Ending Balance	7,280
Loan receivables | North America
Allowance for Credit Losses
Beginning Balance	5,906	6,777
Amounts charged to expense	6,792	3,547
Write-offs	(7,370)	(6,882)
Recoveries	2,399	2,746
Currency impact	181	(172)
Ending Balance	6,792	6,016
Loan receivables | North America | Cumulative Effect
Allowance for Credit Losses
Beginning Balance	(1,116)
Loan receivables | International
Allowance for Credit Losses
Beginning Balance	740	837
Amounts charged to expense	429	440
Write-offs	(343)	(608)
Recoveries	1	9
Currency impact	63	41
Ending Balance	488	$ 719
Loan receivables | International | Cumulative Effect
Allowance for Credit Losses
Beginning Balance	$ (402)

Finance Assets and Lessor Ope_7

Finance Assets and Lessor Operating Leases (Credit Quality) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 1,465,274	$ 1,606,227
Low
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	30.00%
Total	$ 936,779
Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	40.00%
Total	$ 239,830
High
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	30.00%
Total	$ 25,443
Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Total	263,222
International
Financing Receivable, Credit Quality Indicator [Line Items]
Receivables subject to review	$ 50
Percent of applications approved or denied	80.00%
Sales-type lease receivables
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 289,019
2019	375,065
2018	278,842
2017	157,426
2016	61,388
Prior	21,325
Sales-type lease receivables | Low
Financing Receivable, Credit Quality Indicator [Line Items]
2020	187,763
2019	230,942
2018	178,224
2017	101,307
2016	37,346
Prior	15,488
Sales-type lease receivables | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
2020	39,810
2019	58,779
2018	42,501
2017	24,903
2016	10,491
Prior	3,924
Sales-type lease receivables | High
Financing Receivable, Credit Quality Indicator [Line Items]
2020	5,752
2019	6,219
2018	4,722
2017	2,605
2016	1,344
Prior	184
Sales-type lease receivables | Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
2020	55,694
2019	79,125
2018	53,395
2017	28,611
2016	12,207
Prior	1,729
Sales-type lease receivables | International
Financing Receivable, Credit Quality Indicator [Line Items]
Total	201,590	224,202
Loan receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Total	282,209
Loan receivables | Low
Financing Receivable, Credit Quality Indicator [Line Items]
Total	185,709
Loan receivables | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Total	59,422
Loan receivables | High
Financing Receivable, Credit Quality Indicator [Line Items]
Total	4,617
Loan receivables | Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Total	32,461
Loan receivables | International
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 22,377	$ 27,926

Finance Assets and Lessor Ope_8

Finance Assets and Lessor Operating Leases (Lease Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Profit recognized at commencement	$ 29,169	$ 39,326	$ 80,349	$ 112,422
Interest income	33,654	56,522	101,969	174,045
Total lease income from sales-type leases	$ 62,823	$ 95,848	$ 182,318	$ 286,467

Finance Assets and Lessor Ope_9

Finance Assets and Lessor Operating Leases (Operating Leases) (Details) $ in Thousands	Sep. 30, 2020USD ($)
Lessor, Lease, Description [Line Items]
Remaining for year ending December 31, 2020	$ 17,351
Year ending December 31, 2021	36,396
Year ending December 31, 2022	13,688
Year ending December 31, 2023	7,172
Year ending December 31, 2024	2,100
Thereafter	399
Total	$ 77,106
Mailing Equipment | Minimum
Lessor, Lease, Description [Line Items]
Term	1 year
Mailing Equipment | Maximum
Lessor, Lease, Description [Line Items]
Term	5 years

Intangible Assets, Goodwill a_3

Intangible Assets, Goodwill and Other Assets (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Finite lived intangible assets
Gross Carrying Amount	$ 313,119		$ 313,119		$ 310,589
Accumulated Amortization	(145,626)		(145,626)		(119,949)
Net Carrying Amount	167,493		167,493		190,640
Amortization expense	8,000	$ 9,000	26,000	$ 27,000
Customer relationships
Finite lived intangible assets
Gross Carrying Amount	268,195		268,195		265,665
Accumulated Amortization	(108,338)		(108,338)		(88,550)
Net Carrying Amount	159,857		159,857		177,115
Software & technology
Finite lived intangible assets
Gross Carrying Amount	31,600		31,600		31,600
Accumulated Amortization	(23,969)		(23,969)		(19,999)
Net Carrying Amount	7,631		7,631		11,601
Trademarks & other
Finite lived intangible assets
Gross Carrying Amount	13,324		13,324		13,324
Accumulated Amortization	(13,319)		(13,319)		(11,400)
Net Carrying Amount	$ 5		$ 5		$ 1,924

Intangible Assets, Goodwill a_4

Intangible Assets, Goodwill and Other Assets (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Finite lived intangible assets future amortization expense
Remaining for year ending December 31, 2020	$ 7,683
Year ending December 31, 2021	30,265
Year ending December 31, 2022	29,315
Year ending December 31, 2023	26,465
Year ending December 31, 2024	26,465
Thereafter	47,300
Net Carrying Amount	$ 167,493	$ 190,640

Intangible Assets, Goodwill a_5

Intangible Assets, Goodwill and Other Assets (Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Goodwill
Beginning balance		$ 1,324,179		$ 1,324,179
Impairment	$ 0		$ 0	(198,169)	$ 0
Acquisition				8,463
Currency impact				7,671
Ending balance	1,142,144			1,142,144
Commerce Services
Goodwill
Beginning balance		821,960		821,960
Impairment				(198,169)
Acquisition				8,463
Currency impact				0
Ending balance	632,254			632,254
Commerce Services | Global Ecommerce
Goodwill
Beginning balance		609,431		609,431
Impairment		(198,000)		(198,169)
Acquisition				0
Currency impact				0
Ending balance	411,262			411,262
Carrying value percentage						20.00%
Commerce Services | Presort Services
Goodwill
Beginning balance		212,529		212,529
Impairment				0
Acquisition				8,463
Currency impact				0
Ending balance	220,992			220,992
SendTech Solutions
Goodwill
Beginning balance		$ 502,219		502,219
Impairment				0
Acquisition				0
Currency impact				7,671
Ending balance	$ 509,890			$ 509,890

Intangible Assets, Goodwill a_6

Intangible Assets, Goodwill and Other Assets (Other Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Summary of Investment Holdings [Line Items]
Proceeds from surrender of life insurance policy	$ 46,000
Income tax expense from surrender of life insurance policy	12,000	$ 12,000
Proceeds from sale of equity investment	12,000
Gain on sale of equity investment	$ 12,000	21,969	$ 0
Other Assets
Summary of Investment Holdings [Line Items]
Long-term investments		$ 426,000		$ 289,000

Fair Value Measurements and D_3

Fair Value Measurements and Derivative Instruments (Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 394,474	$ 222,120
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	557,299	401,805
Equity securities	22,555	21,979
Mortgage-backed / asset-backed securities	275,352	66,339
Total assets	998,034	667,638
Liabilities	(3,994)	(1,402)
Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	116,806	161,441
Equity securities	0	0
Mortgage-backed / asset-backed securities	0	0
Total assets	135,934	227,669
Liabilities	0	0
Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	440,493	240,364
Equity securities	22,555	21,979
Mortgage-backed / asset-backed securities	275,352	66,339
Total assets	862,100	439,969
Liabilities	(3,994)	(1,402)
Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Equity securities	0	0
Mortgage-backed / asset-backed securities	0	0
Total assets	0	0
Liabilities	0	0
Foreign exchange contracts | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2,603	3,256
Derivative liabilities	(1,086)	(1,402)
Foreign exchange contracts | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liabilities	0	0
Foreign exchange contracts | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2,603	3,256
Derivative liabilities	(1,086)	(1,402)
Foreign exchange contracts | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liabilities	0	0
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,720	1,656
Commingled fixed income securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	21,257	20,060
Commingled fixed income securities | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,720	1,656
Commingled fixed income securities | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	19,537	18,404
Commingled fixed income securities | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	34,443	81,976
Government and related securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	36,009	82,050
Government and related securities | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	17,408	64,572
Government and related securities | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	18,601	17,478
Government and related securities | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	82,959	72,149
Corporate debt securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	82,959	72,149
Corporate debt securities | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Corporate debt securities | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	82,959	72,149
Corporate debt securities | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	$ 0
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	(2,908)
Interest rate swaps | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	0
Interest rate swaps | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	(2,908)
Interest rate swaps | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 0

Fair Value Measurements and D_4

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 398,054	$ 218,512
Gross unrealized gains	1,063	4,327
Gross unrealized losses	(4,643)	(719)
Estimated fair value	394,474	222,120
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	35,018	80,732
Gross unrealized gains	144	1,358
Gross unrealized losses	(719)	(114)
Estimated fair value	34,443	81,976
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	84,457	70,426
Gross unrealized gains	422	2,009
Gross unrealized losses	(1,920)	(286)
Estimated fair value	82,959	72,149
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,699	1,675
Gross unrealized gains	21	0
Gross unrealized losses	0	(19)
Estimated fair value	1,720	1,656
Mortgage-backed / asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	276,880	65,679
Gross unrealized gains	476	960
Gross unrealized losses	(2,004)	(300)
Estimated fair value	$ 275,352	$ 66,339

Fair Value Measurements and D_5

Fair Value Measurements and Derivative Instruments (Unrealized Holding Losses) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Less than 12 continuous months	$ 314,145	$ 52,521
Greater than 12 continuous months	3,157	9,227
Total	317,302	61,748
Gross unrealized losses
Less than 12 continuous months	4,543	583
Greater than 12 continuous months	100	136
Total	$ 4,643	$ 719

Fair Value Measurements and D_6

Fair Value Measurements and Derivative Instruments (Narrative) (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Percentage of securities in loss position	30.00%
Time deposits	$ 25,000,000	$ 383,000,000
Foreign exchange contracts
Derivative [Line Items]
Derivative notional amount	9,000,000	$ 7,000,000
Interest rate swaps
Derivative [Line Items]
Derivative notional amount	$ 500,000,000

Fair Value Measurements and D_7

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities Maturities) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Amortized cost
Within 1 year	$ 19,299
After 1 year through 5 years	9,354
After 5 years through 10 years	54,448
After 10 years	314,953
Total	398,054	$ 218,512
Estimated fair value
Within 1 year	19,379
After 1 year through 5 years	9,553
After 5 years through 10 years	53,476
After 10 years	312,066
Total	$ 394,474	$ 222,120

Fair Value Measurements and D_8

Fair Value Measurements and Derivative Instruments (Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Total net derivative (liability) asset	$ (1,391)	$ 1,854
Total derivative assets
Derivative [Line Items]
Total net derivative (liability) asset	2,603	3,256
Total derivative liabilities
Derivative [Line Items]
Total net derivative (liability) asset	(3,994)	(1,402)
Foreign exchange contracts | Derivatives designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative (liability) asset	15	207
Foreign exchange contracts | Derivatives designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative (liability) asset	(154)	(56)
Foreign exchange contracts | Derivatives not designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative (liability) asset	2,588	3,049
Foreign exchange contracts | Derivatives not designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative (liability) asset	(932)	(1,346)
Interest rate swaps | Derivatives designated as hedging instruments | Other noncurrent liabilities
Derivative [Line Items]
Total net derivative (liability) asset	$ (2,908)	$ 0

Fair Value Measurements and D_9

Fair Value Measurements and Derivative Instruments (Cash Flow Hedging Relationships) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCI (Effective Portion)	$ (1,383)	$ 156	$ (3,269)	$ 181
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	(110)	(44)	(71)	76
Foreign exchange contracts
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCI (Effective Portion)	(80)	156	(361)	181
Foreign exchange contracts | Revenue
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	(104)	(98)	(107)	(23)
Foreign exchange contracts | Cost of sales
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	(6)	54	36	99
Foreign exchange contracts | Selling, general and administrative expense
Derivative [Line Items]
Derivative Gain (Loss) Recognized in Earnings	891	(11,385)	(2,776)	(6,181)
Interest rate swaps
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCI (Effective Portion)	(1,303)	0	(2,908)	0
Interest rate swaps | Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements and _10

Fair Value Measurements and Derivative Instruments (Fair Value of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 2,595,221	$ 2,739,722
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 2,426,516	$ 2,572,794

Restructuring Charges and Ass_3

Restructuring Charges and Asset Impairments (Restructuring Charges) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring Costs
Balance Beginning	$ 12,006	$ 15,449
Expenses, net	9,856	13,343
Cash payments	(15,869)	(18,845)
Balance Ending	$ 5,993	9,947
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	$ 11,937	13,641
Expenses, net	8,748	12,498
Cash payments	(14,714)	(16,362)
Balance Ending	5,971	9,777
Other exit costs
Restructuring Costs
Balance Beginning	69	1,808
Expenses, net	1,108	845
Cash payments	(1,155)	(2,483)
Balance Ending	$ 22	$ 170

Restructuring Charges and Ass_4

Restructuring Charges and Asset Impairments (Other Charges) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Asset impairment charges	$ 3	$ 43

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount	$ 2,643,636	$ 2,765,949
Less: unamortized costs, net	48,415	26,227
Total debt	2,595,221	2,739,722
Less: current portion long-term debt	63,509	20,108
Long-term debt	$ 2,531,712	2,719,614
Notes due | Notes due October 2021
Debt Instrument [Line Items]
Interest rate	4.625%
Principal amount	$ 170,253	600,000
Notes due | Notes due May 2022
Debt Instrument [Line Items]
Interest rate	5.375%
Principal amount	$ 148,792	400,000
Notes due | Notes due April 2023
Debt Instrument [Line Items]
Interest rate	5.70%
Principal amount	$ 271,000	400,000
Notes due | Notes due March 2024
Debt Instrument [Line Items]
Interest rate	4.625%
Principal amount	$ 374,000	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
Notes due | Term loan due November 2024
Debt Instrument [Line Items]
Principal amount	385,000	400,000
Notes due | Term loan due January 2025
Debt Instrument [Line Items]
Principal amount	828,750	0
Other debt
Debt Instrument [Line Items]
Principal amount	$ 5,000	$ 5,108

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)

1 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2020

May 31, 2020

Mar. 31, 2020

Feb. 29, 2020

Nov. 30, 2019

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Dec. 31, 2019

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 37,000,000

$ 0

$ 667,000

$ 36,987,000

$ 667,000

Interest rate swaps

Debt Instrument [Line Items]

Derivative notional amount

$ 500,000,000

$ 500,000,000

$ 500,000,000

Fixed interest rate

0.4443%

0.4443%

0.4443%

Notes due

Debt Instrument [Line Items]

Repayments of debt

$ 36,000,000

Line of credit | Revolving credit facility

Debt Instrument [Line Items]

Repayments of debt

$ 100,000,000

Maximum borrowing capacity

500,000,000

$ 500,000,000

500,000,000

Long-term Line of Credit

0

0

0

$ 0

Notes due October 2021 | Notes due

Debt Instrument [Line Items]

Increase in interest rate

0.50%

0.50%

Debt redeemed

428,000,000

Notes due October 2021 | Notes due | Forecast

Debt Instrument [Line Items]

Increase in interest rate

0.25%

Notes due May 2022 | Notes due

Debt Instrument [Line Items]

Increase in interest rate

0.75%

Debt redeemed

250,000,000

Notes due April 2023 | Notes due

Debt Instrument [Line Items]

Increase in interest rate

0.50%

0.50%

Debt redeemed

125,000,000

Notes due April 2023 | Notes due | Forecast

Debt Instrument [Line Items]

Increase in interest rate

0.25%

2025 Term Loan | Notes due

Debt Instrument [Line Items]

Debt term

5 years

Loan amount

$ 850,000,000

2025 Term Loan | Notes due | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

5.50%

2025 Term Loan | Variable-Rate Term Loan

Debt Instrument [Line Items]

Loan amount

$ 500,000,000

$ 500,000,000

$ 500,000,000

Notes due March 2024 | Notes due

Debt Instrument [Line Items]

Debt redeemed

$ 125,000,000

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Pension Plans | United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 16	$ 20	$ 69	$ 62
Interest cost	12,719	15,792	39,077	47,378
Expected return on plan assets	(20,932)	(23,182)	(63,539)	(69,545)
Amortization of transition credit	0	0	0	0
Amortization of prior service (credit) cost	(15)	(15)	(45)	(45)
Amortization of net actuarial loss	7,972	6,537	24,367	19,610
Settlement	75	1,477	1,076	2,278
Net periodic benefit cost (income)	(165)	629	1,005	(262)
Contributions to benefit plans	2,061	3,350	5,959	7,401
Defined Benefit Pension Plans | Foreign
Defined Benefit Plan Disclosure [Line Items]
Service cost	422	385	1,220	1,157
Interest cost	3,548	4,435	10,473	13,231
Expected return on plan assets	(8,297)	(8,340)	(24,474)	(25,609)
Amortization of transition credit	(1)	(2)	(3)	(5)
Amortization of prior service (credit) cost	62	58	182	181
Amortization of net actuarial loss	2,092	1,543	6,156	4,727
Settlement	833	0	4,023	397
Net periodic benefit cost (income)	(1,341)	(1,921)	(2,423)	(5,921)
Contributions to benefit plans	445	652	9,013	9,740
Nonpension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	229	242	663	725
Interest cost	1,255	1,646	3,742	4,937
Expected return on plan assets	0	0	0	0
Amortization of transition credit	0	0	0	0
Amortization of prior service (credit) cost	93	80	280	241
Amortization of net actuarial loss	926	507	2,400	1,521
Settlement	0	0	0	0
Net periodic benefit cost (income)	2,503	2,475	7,085	7,424
Contributions to benefit plans	$ 2,422	$ 4,628	$ 10,493	$ 13,841

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate (percent)	4.90%		127.30%	(3.80%)	(71.20%)
Benefit from regulation changes	$ 3,000			$ 3,000
Income tax expense from surrender of life insurance policy		$ 12,000		12,000
Benefit from goodwill impairment				2,000
Goodwill impairment	0		$ 0	198,169	$ 0
Tax benefit from resolution of settlement				1,000	6,000
Deferred tax assets associated with the expiration of out-of-money vested stock options and the vesting of restricted stock				3,000
Valuation allowance released				23,000
Tax from Market Exits					2,000
Loss on sale of business	$ 0		$ 0	$ 0	$ 17,683
Percent decrease in unrecognized benefits, reasonably possible (up to)	10.00%			10.00%

Commitments and Contingencies D

Commitments and Contingencies Disclosure (Details) $ in Millions	1 Months Ended
	Feb. 28, 2019action	Dec. 31, 2018action	Sep. 30, 2020USD ($)lease
Lessee, Lease, Description [Line Items]
Number of actions | action	2	2
Equipment | Commerce Services
Lessee, Lease, Description [Line Items]
Number of leases | lease			3
Lease payments | $			$ 30
Equipment | Commerce Services | Minimum
Lessee, Lease, Description [Line Items]
Term of contract			7 years
Equipment | Commerce Services | Maximum
Lessee, Lease, Description [Line Items]
Term of contract			9 years

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 44,580	$ 52,972	$ 286,096	$ 101,842
Net (loss) income	11,389	(3,125)	(200,423)	17,913
Other comprehensive income (loss)	22,690	(18,774)	26,571	22,509
Dividends paid	(8,594)	(8,508)	(25,693)	(26,854)
Issuance of common stock	774	1,145	(762)	(588)
Conversion to common stock		0		0
Redemption of preferred/preference stock				(277)
Stock-based compensation expense	8,286	6,702	15,236	15,867
Repurchase of common stock		(5,000)		(105,000)
Balances, end of period	$ 79,125	$ 25,412	$ 79,125	$ 25,412
Dividends paid (USD per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.15
Cumulative Effect
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			$ (21,900)
Preferred stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period				$ 1
Redemption of preferred/preference stock				(1)
Balances, end of period		$ 0		0
Preference stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period				396
Conversion to common stock				(130)
Redemption of preferred/preference stock				(266)
Balances, end of period		0		0
Common stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 323,338	323,338	323,338	323,338
Balances, end of period	323,338	323,338	323,338	323,338
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	68,498	105,341	98,748	121,475
Issuance of common stock	(9,272)	(10,146)	(46,472)	(32,877)
Conversion to common stock		(246)		(2,804)
Redemption of preferred/preference stock				(10)
Stock-based compensation expense	8,286	6,702	15,236	15,867
Balances, end of period	67,512	101,651	67,512	101,651
Retained earnings
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	5,188,119	5,282,374	5,438,930	5,279,682
Net (loss) income	11,389	(3,125)	(200,423)	17,913
Dividends paid	(8,594)	(8,508)	(25,693)	(26,854)
Balances, end of period	5,190,914	5,270,741	5,190,914	5,270,741
Retained earnings | Cumulative Effect
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period			(21,900)
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(836,262)	(907,678)	(840,143)	(948,961)
Other comprehensive income (loss)	22,690	(18,774)	26,571	22,509
Balances, end of period	(813,572)	(926,452)	(813,572)	(926,452)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(4,699,113)	(4,750,403)	(4,734,777)	(4,674,089)
Issuance of common stock	10,046	11,291	45,710	32,289
Conversion to common stock		246		2,934
Repurchase of common stock		(5,000)		(105,000)
Balances, end of period	$ (4,689,067)	$ (4,743,866)	$ (4,689,067)	$ (4,743,866)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (AOCL) (Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	$ 891,898	$ 790,125	$ 2,525,658	$ 2,373,782
Selling, general and administrative	238,618	254,092	720,882	757,228
Income (loss) from continuing operations before taxes	11,327	(19,550)	(200,531)	18,761
Income tax provision	(554)	24,895	(7,540)	13,351
Net income (loss)	11,389	(3,125)	(200,423)	17,913
Reclassification out of Accumulated Other Comprehensive Loss | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	(104)	(98)	(107)	(23)
Cost of sales	(6)	54	36	99
Income (loss) from continuing operations before taxes	(110)	(44)	(71)	76
Income tax provision	(27)	(11)	(18)	19
Net income (loss)	(83)	(33)	(53)	57
Reclassification out of Accumulated Other Comprehensive Loss | Available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenue	6,490	146	10,060	42
Selling, general and administrative	263	0	210	0
Income (loss) from continuing operations before taxes	6,753	146	10,270	42
Income tax provision	1,681	37	2,557	11
Net income (loss)	5,072	109	7,713	31
Reclassification out of Accumulated Other Comprehensive Loss | Pension and postretirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before taxes	(12,037)	(10,185)	(38,436)	(28,905)
Income tax provision	(2,875)	(2,633)	(9,027)	(7,406)
Net income (loss)	(9,162)	(7,552)	(29,409)	(21,499)
Reclassification out of Accumulated Other Comprehensive Loss | Transition credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit plans	1	2	3	5
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	(140)	(123)	(417)	(377)
Reclassification out of Accumulated Other Comprehensive Loss | Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit plans	(10,990)	(8,587)	(32,923)	(25,858)
Reclassification out of Accumulated Other Comprehensive Loss | Settlements
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit plans	$ (908)	$ (1,477)	$ (5,099)	$ (2,675)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (AOCL) (Changes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	$ 44,580	$ 52,972	$ 286,096	$ 101,842
Other comprehensive income (loss) before reclassifications			4,822	1,098
Reclassifications into earnings			21,749	21,411
Other comprehensive income (loss), net of tax	22,690	(18,774)	26,571	22,509
Balances, end of period	79,125	25,412	79,125	25,412
Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			337	191
Other comprehensive income (loss) before reclassifications			(2,455)	135
Reclassifications into earnings			53	(57)
Other comprehensive income (loss), net of tax			(2,402)	78
Balances, end of period	(2,065)	269	(2,065)	269
Available for sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			2,849	(3,061)
Other comprehensive income (loss) before reclassifications			2,237	7,547
Reclassifications into earnings			(7,713)	(31)
Other comprehensive income (loss), net of tax			(5,476)	7,516
Balances, end of period	(2,627)	4,455	(2,627)	4,455
Pension and postretirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			(819,018)	(846,461)
Other comprehensive income (loss) before reclassifications			0	0
Reclassifications into earnings			29,409	21,499
Other comprehensive income (loss), net of tax			29,409	21,499
Balances, end of period	(789,609)	(824,962)	(789,609)	(824,962)
Foreign currency adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period			(24,311)	(99,630)
Other comprehensive income (loss) before reclassifications			5,040	(6,584)
Reclassifications into earnings			0	0
Other comprehensive income (loss), net of tax			5,040	(6,584)
Balances, end of period	(19,271)	(106,214)	(19,271)	(106,214)
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(836,262)	(907,678)	(840,143)	(948,961)
Other comprehensive income (loss), net of tax	22,690	(18,774)	26,571	22,509
Balances, end of period	$ (813,572)	$ (926,452)	$ (813,572)	$ (926,452)

Other (Income) Expense (Details

Other (Income) Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income and Expenses [Abstract]
Loss on extinguishment of debt	$ 37,000	$ 0	$ 667	$ 36,987	$ 667
Insurance proceeds		(6,325)	0	(15,292)	0
Gain on sale of equity investment		0	0	(11,908)	0
Loss on sale of business		0	0	0	17,683
Other (income) expense		$ (6,325)	$ 667	$ 9,787	$ 18,350