Pitney Bowes (PBI) 10-Q 5 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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		175,625,660
Entity Central Index Key	0000078814
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
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
6.7% 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 Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue:
Total revenue	$ 834,538	$ 926,942
Costs and expenses:
Selling, general and administrative	242,120	242,785
Research and development	10,493	11,334
Restructuring charges	3,599	4,184
Interest expense, net	22,342	22,124
Other components of net pension and postretirement (income) cost	(1,710)	844
Other income, net	(2,836)	(11,901)
Total costs and expenses	845,525	901,918
(Loss) income before taxes	(10,987)	25,024
(Benefit) provision for income taxes	(3,250)	4,203
Net (loss) income	$ (7,737)	$ 20,821
Basic net (loss) earnings per share (in dollars per share)	$ (0.04)	$ 0.12
Diluted net (loss) earnings per share (in dollars per share)	$ (0.04)	$ 0.12
Business services
Revenue:
Total revenue	$ 523,491	$ 597,384
Costs and expenses:
Cost of products and sales	446,317	503,215
Support services
Revenue:
Total revenue	105,284	110,352
Costs and expenses:
Cost of products and sales	36,840	37,134
Financing
Revenue:
Total revenue	67,049	72,029
Costs and expenses:
Cost of products and sales	14,536	11,602
Equipment sales
Revenue:
Total revenue	82,610	89,296
Costs and expenses:
Cost of equipment sales	57,171	63,771
Supplies
Revenue:
Total revenue	38,835	41,061
Costs and expenses:
Cost of products and sales	11,225	11,517
Rentals
Revenue:
Total revenue	17,269	16,820
Costs and expenses:
Cost of products and sales	$ 5,428	$ 5,309

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (7,737)	$ 20,821
Other comprehensive income (loss), net of tax:
Foreign currency translation, net of tax of $174 and $(167), respectively	10,887	(17,565)
Net unrealized (loss) gain on cash flow hedges, net of tax of $(687) and $1,768, respectively	(2,062)	5,333
Net unrealized gain (loss) on investment securities, net of tax of $1,028 and $(5,146), respectively	3,272	(15,522)
Amortization of pension and postretirement costs, net of tax of $1,142 and $2,461, respectively	3,489	7,736
Other comprehensive income (loss), net of tax	15,586	(20,018)
Comprehensive income	$ 7,849	$ 803

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ 174	$ (167)
Net unrealized (loss) gain on cash flow hedges, tax	(687)	1,768
Net unrealized gain (loss) on investment securities, tax	1,028	(5,146)
Amortization of pension and postretirement costs, tax	$ 1,142	$ 2,461

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 511,761	$ 669,981
Short-term investments (includes $2,388 and $1,882, respectively, reported at fair value)	15,614	11,172
Accounts and other receivables (net of allowance of $6,083 and $5,344, respectively)	271,496	343,557
Short-term finance receivables (net of allowance of $11,683 and $11,395, respectively)	551,348	564,972
Inventories	94,016	83,720
Current income taxes	19,318	8,790
Other current assets and prepayments	125,746	115,824
Total current assets	1,589,299	1,798,016
Property, plant and equipment, net	411,793	420,672
Rental property and equipment, net	26,955	27,487
Long-term finance receivables (net of allowance of $10,221 and $10,555 respectively)	636,518	627,124
Goodwill	1,069,660	1,066,951
Intangible assets, net	74,028	77,944
Operating lease assets	287,703	296,129
Noncurrent income taxes	44,595	46,613
Other assets (includes $231,732 and $229,936, respectively, reported at fair value)	390,298	380,419
Total assets	4,530,849	4,741,355
Current liabilities:
Accounts payable and accrued liabilities	800,050	907,083
Customer deposits at Pitney Bowes Bank	594,546	628,072
Current operating lease liabilities	53,848	52,576
Current portion of long-term debt	262,439	32,764
Advance billings	86,802	105,207
Current income taxes	981	2,101
Total current liabilities	1,798,666	1,727,803
Long-term debt	1,910,529	2,172,502
Deferred taxes on income	268,193	263,131
Tax uncertainties and other income tax liabilities	23,778	23,841
Noncurrent operating lease liabilities	256,158	265,696
Other noncurrent liabilities	213,561	227,729
Total liabilities	4,470,885	4,680,702
Commitments and contingencies (See Note 13)
Stockholders’ equity:
Common stock, $1 par value (480,000 shares authorized; 323,338 shares issued)	323,338	323,338
Retained earnings	5,060,852	5,125,677
Accumulated other comprehensive loss	(819,978)	(835,564)
Treasury stock, at cost (147,714 and 149,307 shares, respectively)	(4,504,248)	(4,552,798)
Total stockholders’ equity	59,964	60,653
Total liabilities and stockholders’ equity	$ 4,530,849	$ 4,741,355

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Short-term investments, fair value	$ 2,388	$ 1,882
Allowance for doubtful accounts	6,083	5,344
Short-term finance receivables allowance	11,683	11,395
Long-term finance receivables allowance	10,221	10,555
Other assets, fair value	$ 231,732	$ 229,936
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	480,000	480,000
Common stock, issued (in shares)	323,338	323,338
Treasury stock (in shares)	147,714	149,307

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Cash flows from operating activities:
Net (loss) income	$ (7,737)	$ 20,821
Adjustments to reconcile net (loss) income to net cash from operating activities:
Depreciation and amortization	39,897	42,002
Allowance for credit losses	4,308	2,024
Stock-based compensation	3,245	4,495
Amortization of debt fees	2,118	1,479
(Gain) loss on debt redemption/refinancing	(2,836)	4,993
Amortization of debt fees	3,599	4,184
Restructuring payments	(4,641)	(3,285)
Pension contributions and retiree medical payments	(19,938)	(13,517)
Gain on sale of assets	0	(14,372)
Gain on sale of businesses	0	(2,522)
Changes in operating assets and liabilities, net of acquisitions/divestitures:
Accounts and other receivables	69,841	33,086
Finance receivables	15,596	(172)
Inventories	(10,226)	(7,936)
Other current assets and prepayments	(8,380)	(25,426)
Accounts payable and accrued liabilities	(103,990)	(38,647)
Current and noncurrent income taxes	(6,070)	(3,836)
Advance billings	(18,672)	2,422
Other, net	4,172	4,769
Net cash from operating activities	(39,714)	10,562
Cash flows from investing activities:
Capital expenditures	(28,666)	(32,555)
Purchases of investment securities	(5,180)	(3,988)
Proceeds from sales/maturities of investment securities	5,976	11,020
Net investment in loan receivables	(12,879)	(11,230)
Proceeds from asset sales	0	50,766
Proceeds from sale of businesses	0	9,016
Other investing activities	(664)	5,000
Net cash from investing activities	(41,413)	28,029
Cash flows from financing activities:
Repayments of debt	(31,018)	(100,595)
Premiums and fees paid to redeem/refinance debt	0	(4,759)
Dividends paid to stockholders	(8,725)	(8,688)
Customer deposits at Pitney Bowes Bank	(33,526)	(12,959)
Common stock repurchases	0	(13,446)
Other financing activities	(6,173)	(5,411)
Net cash from financing activities	(79,442)	(145,858)
Effect of exchange rate changes on cash and cash equivalents	2,349	(2,638)
Change in cash and cash equivalents	(158,220)	(109,905)
Cash and cash equivalents at beginning of period	669,981	732,480	$ 732,480
Cash and cash equivalents at end of period	$ 511,761	$ 622,575	$ 669,981

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
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 shipping and mailing company that provides technology, logistics, and financial services to small and medium sized businesses, large enterprises, including more than 90 percent of the Fortune 500, retailers and government clients around the world. These clients rely on us to remove the complexity and increase the efficiency in their sending of mail and parcels. For additional information, 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, 2022 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, 2023. 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, 2022 (2022 Annual Report). During the second quarter of 2022, we determined that $5 million of cash outflows were incorrectly classified as operating activities instead of investing activities within the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2022. During the second quarter of 2022, we corrected this misstatement for the six months ended June 30, 2022. The impact of the adjustments is not material to the consolidated financial statements for any prior quarterly or annual periods. Factors Affecting Comparability Certain transactions and changes occurred during 2022 that impact the comparability of our 2023 financial results to the prior periods. These transactions and changes include: • The sale of our Borderfree cross-border ecommerce solutions business (Borderfree) in July 2022. Accordingly, reported revenue and costs for the first half of 2022 include revenue and costs for Borderfree. Net income of Borderfree in the first half of 2022 was not significant. • A change in the presentation of revenue for digital delivery services effective October 1, 2022, from a gross basis to a net basis. Accordingly, in 2023, revenue and costs of revenue for certain digital delivery services are reported on a net basis as business services revenue; whereas for the first nine months of 2022, revenue and cost of revenue for these services are reported as business services revenue and cost of business services, respectively. The change primarily impacts our Global Ecommerce business. Accounting Pronouncements Adopted in 2023 On January 1, 2023, we adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which requires disclosure of gross write-offs of finance receivables by year of origination. The adoption of this standard did not have a material impact on our financial statement disclosures. Accounting Pronouncements Not Yet Adopted 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	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 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 $ 348,391 $ 158,902 $ 16,198 $ 523,491 $ — $ 523,491 Support services — — 105,284 105,284 — 105,284 Financing — — — — 67,049 67,049 Equipment sales — — 19,995 19,995 62,615 82,610 Supplies — — 38,835 38,835 — 38,835 Rentals — — — — 17,269 17,269 Subtotal 348,391 158,902 180,312 687,605 $ 146,933 $ 834,538 Revenue from leasing transactions and financing — — 146,933 146,933 Total revenue $ 348,391 $ 158,902 $ 327,245 $ 834,538 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 77,064 $ 77,064 Products/services transferred over time 348,391 158,902 103,248 610,541 Total $ 348,391 $ 158,902 $ 180,312 $ 687,605 Three Months Ended March 31, 2022 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 $ 418,527 $ 160,544 $ 18,313 $ 597,384 $ — $ 597,384 Support services — — 110,352 110,352 — 110,352 Financing — — — — 72,029 72,029 Equipment sales — — 21,299 21,299 67,997 89,296 Supplies — — 41,061 41,061 — 41,061 Rentals — — — — 16,820 16,820 Subtotal 418,527 160,544 191,025 770,096 $ 156,846 $ 926,942 Revenue from leasing transactions and financing — — 156,846 156,846 Total revenue $ 418,527 $ 160,544 $ 347,871 $ 926,942 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 78,373 $ 78,373 Products/services transferred over time 418,527 160,544 112,652 691,723 Total $ 418,527 $ 160,544 $ 191,025 $ 770,096 Our performance obligations for revenue from products and services are as follows: Business services includes fulfillment, delivery and return services, cross-border solutions, mail processing services and shipping subscription solutions. Revenue for fulfillment, delivery and return services and cross-border solutions and mail processing services is recognized over time using an output method based on the number of parcels or mail pieces either processed or delivered, depending on the service type, since that measure best depicts the value of goods and services transferred to the client over the contract period. Contract terms for these services initially range from one Support services includes providing maintenance, professional and subscription services for our equipment and digital mailing and shipping technology 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 the equipment is free of defects and meets stated specifications. The warranty is not considered a separate performance obligation. Supplies includes revenue from supplies for our mailing equipment and 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 the Pitney Bowes Bank. Advance Billings from Contracts with Customers Balance sheet location March 31, 2023 December 31, 2022 Increase/ (decrease) Advance billings, current Advance billings $ 78,363 $ 97,904 $ (19,541) Advance billings, noncurrent Other noncurrent liabilities $ 949 $ 906 $ 43 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 $57 million of advance billings at the beginning of the period. Advance billings, current, at March 31, 2023 and December 31, 2022 also includes $8 million and $7 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 2023 2024 2025-2028 Total SendTech Solutions $ 193,946 $ 220,083 $ 293,623 $ 707,652 The amounts above do not include revenue for performance obligations under contracts with terms less than 12 months or revenue for performance obligations where revenue is recognized based on the amount billable to the customer.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Our reportable segments are Global Ecommerce, Presort Services and SendTech Solutions. The principal products and services of each reportable segment are as follows: Global Ecommerce: Includes the revenue and related expenses from domestic parcel services, cross-border services and digital delivery services. Presort Services : Includes revenue and related expenses from sortation services to qualify large volumes of First Class Mail, Marketing Mail, 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 adjusted segment earnings before interest and taxes (EBIT). Adjusted segment EBIT is calculated by deducting from segment revenue the related costs and expenses attributable to the segment. Adjusted segment EBIT excludes interest, taxes, unallocated corporate expenses, restructuring charges and other items not allocated to business segments. Costs related to shared assets are allocated to the relevant segments. Management believes that adjusted segment EBIT provides investors a useful measure of operating performance and underlying trends of the business. Adjusted 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 a reconciliation of adjusted segment EBIT to net (loss) income. Revenue Three Months Ended March 31, 2023 2022 Global Ecommerce $ 348,391 $ 418,527 Presort Services 158,902 160,544 SendTech Solutions 327,245 347,871 Total revenue $ 834,538 $ 926,942 Adjusted Segment EBIT Three Months Ended March 31, 2023 2022 Global Ecommerce $ (34,206) $ (13,696) Presort Services 26,905 19,632 SendTech Solutions 96,671 104,575 Total adjusted segment EBIT 89,370 110,511 Reconciliation of Adjusted Segment EBIT to net (loss) income: Unallocated corporate expenses (56,349) (57,834) Restructuring charges (3,599) (4,184) Interest expense, net (36,878) (33,726) Proxy solicitation fees (6,367) — Gain (loss) on debt redemption/refinancing 2,836 (4,993) Gain on sale of assets — 14,372 Gain on sale of businesses, including transaction costs — 878 Benefit (provision) for income taxes 3,250 (4,203) Net (loss) income $ (7,737) $ 20,821

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The calculation of basic and diluted earnings per share (EPS) is presented below. Three Months Ended March 31, 2023 2022 Numerator: Net (loss) income $ (7,737) $ 20,821 Denominator: Weighted-average shares used in basic EPS 174,626 174,115 Dilutive effect of common stock equivalents (1) — 3,919 Weighted-average shares used in diluted EPS 174,626 178,034 Basic net (loss) earnings per share $ (0.04) $ 0.12 Diluted net (loss) earnings per share $ (0.04) $ 0.12 Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive: 8,148 9,590 (1) Due to the net loss for the three months ended March 31, 2023, an additional 4.7 million of common stock equivalents were also excluded from the calculation of diluted earnings per share.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost, determined on the first-in, first-out (FIFO) basis, or net realizable value. Inventories consisted of the following: March 31, December 31, Raw materials $ 28,372 $ 25,539 Supplies and service parts 35,239 27,573 Finished products 30,405 30,608 Total inventory, net $ 94,016 $ 83,720

Finance Assets and Lessor Opera

Finance Assets and Lessor Operating Leases	3 Months Ended
	Mar. 31, 2023
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, secured loans and unsecured loans. Sales-type leases and secured loans are from financing options for the purchase or lease of Pitney Bowes equipment or other manufacturers' equipment and are generally due in installments over periods ranging from three Finance receivables consisted of the following: March 31, 2023 December 31, 2022 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 971,663 $ 149,227 $ 1,120,890 $ 967,298 $ 158,167 $ 1,125,465 Unguaranteed residual values 38,688 8,628 47,316 38,832 8,798 47,630 Unearned income (242,564) (47,243) (289,807) (239,238) (48,334) (287,572) Allowance for credit losses (13,458) (2,873) (16,331) (14,131) (2,893) (17,024) Net investment in sales-type lease receivables 754,329 107,739 862,068 752,761 115,738 868,499 Loan receivables Loan receivables 313,945 17,426 331,371 311,887 16,636 328,523 Allowance for credit losses (5,423) (150) (5,573) (4,787) (139) (4,926) Net investment in loan receivables 308,522 17,276 325,798 307,100 16,497 323,597 Net investment in finance receivables $ 1,062,851 $ 125,015 $ 1,187,866 $ 1,059,861 $ 132,235 $ 1,192,096 Maturities of gross finance receivables at March 31, 2023 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remainder 2023 $ 279,986 $ 52,333 $ 332,319 $ 229,683 $ 17,426 $ 247,109 2024 299,265 44,812 344,077 31,141 — 31,141 2025 207,186 28,061 235,247 24,666 — 24,666 2026 126,392 16,005 142,397 15,966 — 15,966 2027 55,014 6,320 61,334 10,122 — 10,122 Thereafter 3,820 1,696 5,516 2,367 — 2,367 Total $ 971,663 $ 149,227 $ 1,120,890 $ 313,945 $ 17,426 $ 331,371 Aging of Receivables The aging of gross finance receivables was as follows: March 31, 2023 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 963,890 $ 146,958 $ 310,819 $ 17,321 $ 1,438,988 Past due amounts > 90 days 7,773 2,269 3,126 105 13,273 Total $ 971,663 $ 149,227 $ 313,945 $ 17,426 $ 1,452,261 December 31, 2022 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 959,203 $ 155,596 $ 308,872 $ 16,503 $ 1,440,174 Past due amounts > 90 days 8,095 2,571 3,015 133 13,814 Total $ 967,298 $ 158,167 $ 311,887 $ 16,636 $ 1,453,988 Allowance for Credit Losses We provide 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 and current economic conditions and outlook based on reasonable and supportable forecasts. We continually evaluate the adequacy of the allowance for credit losses and adjust as necessary. The assumptions used in determining an estimate of credit losses are inherently subjective and actual results may differ significantly from estimated reserves. We established credit approval limits based on the credit quality of the client and the type of equipment financed. We cease financing revenue recognition for lease receivables and for unsecured loan receivables that are more than 90 days past due. Revenue recognition is resumed when the client's payments reduce the account aging to less than 60 days past due. Finance receivables are written off against the allowance after all collection efforts have been exhausted and management deems the account to be uncollectible. We believe that our 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 January 1, 2023 $ 14,131 $ 2,893 $ 4,787 $ 139 $ 21,950 Amounts charged to expense 395 238 1,097 55 1,785 Write-offs (1,683) (267) (1,109) (46) (3,105) Recoveries 614 111 648 — 1,373 Other 1 (102) — 2 (99) Balance at March 31, 2023 $ 13,458 $ 2,873 $ 5,423 $ 150 $ 21,904 Sales-type Lease Receivables Loan Receivables North International North International Total Balance at January 1, 2022 $ 19,546 $ 3,246 $ 3,259 $ 167 $ 26,218 Amounts charged to expense 297 47 616 143 1,103 Write-offs (1,640) (360) (1,341) (117) (3,458) Recoveries 744 — 761 — 1,505 Other 13 (143) 2 (9) (137) Balance at March 31, 2022 $ 18,960 $ 2,790 $ 3,297 $ 184 $ 25,231 The table below shows write-offs of gross finance receivables by year of origination. March 31, 2023 Sales Type Lease Receivables Loan Receivables Total 2022 2021 2020 2019 Prior Write-offs $ 455 $ 675 $ 412 $ 250 $ 158 $ 1,155 $ 3,105 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, a detailed manual review of their financial condition and payment history, or an automated process. 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 and enhanced tools and processes are implemented as needed. Over 85% of our finance receivables are within the North American portfolio. We use a third-party to score the majority of this portfolio on a quarterly basis using a proprietary commercial credit score. The relative scores are determined based on a number of factors, including financial information, payment history, company type and ownership structure. We stratify the third party's credit scores of our clients into low, medium and high-risk accounts. Due to timing and other issues, our entire portfolio may not be scored at period end. We report these amounts as "Not Scored"; however, absence of a score is not indicative of the credit quality of the account. The third-party credit score is used to predict the payment behaviors of our clients and the probability that an account will become greater than 90 days past due during the subsequent 12-month period. • Low risk accounts are companies with very good credit scores and a predicted delinquency rate of less than 5%. • Medium risk accounts are companies with average to good credit scores and a predicted delinquency rate between 5% and 10%. • High risk accounts are companies with poor credit scores, are delinquent or are at risk of becoming delinquent. The predicted delinquency rate would be greater than 10%. We do not use a third-party to score our International portfolio because the cost to do so is prohibitive as there is no single credit score model that covers all countries. Accordingly, the entire International portfolio is reported in the Not Scored category. This portfolio comprises less than 15% of total finance receivables. Most of the International credit applications are small dollar applications (i.e. below $50 thousand) and are subjected to an automated review process. Larger credit applications are manually reviewed, which includes obtaining client financial information, credit reports and other available financial information. The table below shows gross finance receivables by relative risk class and year of origination based on the relative scores of the accounts within each class. March 31, 2023 Sales Type Lease Receivables Loan Receivables Total 2023 2022 2021 2020 2019 Prior Low $ 77,542 $ 266,461 $ 193,093 $ 127,566 $ 81,723 $ 32,032 $ 243,405 $ 1,021,822 Medium 15,687 49,635 36,497 27,075 18,527 8,744 55,282 211,447 High 1,251 5,104 3,358 2,806 1,326 996 6,080 20,921 Not Scored 40,595 58,689 38,828 19,716 10,064 3,575 26,604 198,071 Total $ 135,075 $ 379,889 $ 271,776 $ 177,163 $ 111,640 $ 45,347 $ 331,371 $ 1,452,261 December 31, 2022 Sales Type Lease Receivables Loan Receivables Total 2022 2021 2020 2019 2018 Prior Low $ 286,297 $ 206,511 $ 140,800 $ 95,485 $ 34,721 $ 12,674 $ 239,635 $ 1,016,123 Medium 53,419 40,669 27,013 19,668 6,751 3,441 56,048 207,009 High 6,492 3,840 3,119 1,942 750 508 6,800 23,451 Not Scored 71,435 53,831 29,957 19,232 5,889 1,021 26,040 207,405 Total $ 417,643 $ 304,851 $ 200,889 $ 136,327 $ 48,111 $ 17,644 $ 328,523 $ 1,453,988 Lease Income Lease income from sales-type leases, excluding variable lease payments, was as follows: Three Months Ended March 31, 2023 2022 Profit recognized at commencement $ 31,822 $ 35,040 Interest income 38,931 42,283 Total lease income from sales-type leases $ 70,753 $ 77,323 Lessor Operating Leases We also lease mailing equipment under operating leases with terms of one Remainder 2023 $ 15,217 2024 17,812 2025 19,591 2026 5,808 2027 2,205 Thereafter 434 Total $ 61,067

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Intangible assets consisted of the following: March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 155,718 $ (83,997) $ 71,721 $ 155,715 $ (80,188) $ 75,527 Software & technology 22,020 (19,713) 2,307 22,000 (19,583) 2,417 Total intangible assets $ 177,738 $ (103,710) $ 74,028 $ 177,715 $ (99,771) $ 77,944 Amortization expense for the three months ended March 31, 2023 and 2022 was $4 million and $8 million, respectively. Future amortization expense as of March 31, 2023 is shown in the table below. Actual amortization expense may differ due to, among other things, fluctuations in foreign currency exchange rates, acquisitions, divestitures and impairment charges. Remainder 2023 $ 11,795 2024 15,727 2025 15,523 2026 14,534 2027 11,478 Thereafter 4,971 Total $ 74,028 Goodwill Changes in the carrying value of goodwill by reporting segment are shown in the table below. December 31, 2022 Currency impact March 31, Global Ecommerce $ 339,184 $ — $ 339,184 Presort Services 223,763 — 223,763 SendTech Solutions 504,004 2,709 506,713 Total goodwill $ 1,066,951 $ 2,709 $ 1,069,660 At December 31, 2022, the estimated fair value of the Global Ecommerce reporting unit exceeded its carrying value by less than 10%. T he fair value of the reporting unit was estimated using a discounted cash flow model based on management developed cash flow projections, which included judgements and assumptions related to revenue growth rates, operating margins, operating income, and a discount rate. During the first quarter of 2023, there were no triggering events that required us to determine if the goodwill of this reporting unit was impaired. However, the judgements and assumptions used to estimate the fair value of this reporting unit at December 31, 2022 were inherently subjective and changes in any of the judgements or assumptions used could result in a different fair value determination in a future period.

Fair Value Measurements and Der

Fair Value Measurements and Derivative Instruments	3 Months Ended
	Mar. 31, 2023
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. March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 13,523 $ 201,911 $ — $ 215,434 Equity securities — 15,327 — 15,327 Commingled fixed income securities 1,553 5,360 — 6,913 Government and related securities 10,370 18,869 — 29,239 Corporate debt securities — 53,607 — 53,607 Mortgage-backed / asset-backed securities — 126,737 — 126,737 Derivatives Interest rate swap — 12,697 — 12,697 Foreign exchange contracts — 1,818 — 1,818 Total assets $ 25,446 $ 436,326 $ — $ 461,772 Liabilities: Derivatives Foreign exchange contracts $ — $ (53) $ — $ (53) Total liabilities $ — $ (53) $ — $ (53) December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 29,087 $ 238,536 $ — $ 267,623 Equity securities — 13,233 — 13,233 Commingled fixed income securities 1,520 6,526 — 8,046 Government and related securities 10,253 18,796 — 29,049 Corporate debt securities — 52,319 — 52,319 Mortgage-backed / asset-backed securities — 126,882 — 126,882 Derivatives Interest rate swap — 15,283 — 15,283 Foreign exchange contracts — 479 — 479 Total assets $ 40,860 $ 472,054 $ — $ 512,914 Liabilities: Derivatives Foreign exchange contracts $ — $ (1,472) $ — $ (1,472) Total liabilities $ — $ (1,472) $ — $ (1,472) 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 within 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 when unadjusted quoted prices in active markets are available. 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. 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 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 loss (AOCL), and changes in fair value due to credit conditions recorded in earnings. There were no unrealized losses due to credit losses charged to earnings in the three months ended March 31, 2023. Available-for-sale securities consisted of the following: March 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 35,263 $ — $ (7,442) $ 27,821 Corporate debt securities 66,020 1 (12,414) 53,607 Commingled fixed income securities 1,759 — (206) 1,553 Mortgage-backed / asset-backed securities 154,256 — (27,519) 126,737 Total $ 257,298 $ 1 $ (47,581) $ 209,718 December 31, 2022 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 35,744 $ 11 $ (8,210) $ 27,545 Corporate debt securities 66,300 — (13,981) 52,319 Commingled fixed income securities 1,749 — (229) 1,520 Mortgage-backed / asset-backed securities 156,352 — (29,470) 126,882 Total $ 260,145 $ 11 $ (51,890) $ 208,266 Investment securities in a loss position were as follows: March 31, 2023 December 31, 2022 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Greater than 12 continuous months Government and related securities $ 17,515 $ 2,388 $ 17,063 $ 2,753 Corporate debt securities 52,359 12,398 48,812 13,749 Mortgage-backed / asset-backed securities 117,321 26,504 114,839 28,040 Total $ 187,195 $ 41,290 $ 180,714 $ 44,542 Less than 12 continuous months Government and related securities $ 10,306 $ 5,054 $ 10,061 $ 5,457 Corporate debt securities 1,180 16 3,508 232 Commingled fixed income securities 1,553 206 1,520 229 Mortgage-backed / asset-backed securities 9,416 1,015 12,042 1,430 Total $ 22,455 $ 6,291 $ 27,131 $ 7,348 At March 31, 2023, approximately 99% of total securities in the investment portfolio were in a loss position. However, 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. Accordingly, we have not recognized an impairment loss and our allowance for credit losses on these investment securities is not significant. Scheduled maturities of available-for-sale securities at March 31, 2023 were as follows: Amortized cost Estimated fair value Within 1 year $ 2,601 $ 2,388 After 1 year through 5 years 15,175 13,873 After 5 years through 10 years 72,323 60,012 After 10 years 167,199 133,445 Total $ 257,298 $ 209,718 Actual maturities may not coincide with scheduled maturities as certain securities contain early redemption features and/or allow for the prepayment of obligations. Held-to-Maturity Securities Held-to-maturity securities at March 31, 2023 and December 31, 2022 totaled $23 million and $22 million, respectively. Held-to-maturity securities primarily consist of highly-liquid government securities with maturities less than two years. 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 limit these risks by following established risk management policies and procedures, including the use of derivatives. We use derivative instruments to limit the effects of currency exchange rate fluctuations on financial results and manage the cost of debt. We do not use derivatives for trading or speculative purposes. Derivative instruments are recorded at fair value and the accounting for changes in 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 anticipated inventory purchases 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 AOCL in the period that the change in fair value occurs and is reclassified to earnings in the period that the hedged item is recorded in earnings. At both March 31, 2023 and December 31, 2022, outstanding contracts associated with these anticipated transactions had a notional value of $1 million. Amounts included in AOCL at March 31, 2023 will be recognized in earnings within the next 12 months. No amount of ineffectiveness was recorded in earnings for these designated cash flow hedges. Interest Rate Swaps We have interest rate swap agreements with an aggregate notional value of $200 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 AOCL. The fair value of derivative instruments was as follows: Designation of Derivatives Balance Sheet Location March 31, December 31, Derivatives designated as Foreign exchange contracts Other current assets and prepayments $ — $ 15 Accounts payable and accrued liabilities (34) (23) Interest rate swaps Other assets 12,697 15,283 Derivatives not designated as Foreign exchange contracts Other current assets and prepayments 1,818 464 Accounts payable and accrued liabilities (19) (1,449) Total derivative assets $ 14,515 $ 15,762 Total derivative liabilities (53) (1,472) Total net derivative asset $ 14,462 $ 14,290 Results of cash flow hedging relationships were as follows: Three Months Ended March 31, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2023 2022 2023 2022 Foreign exchange contracts $ 25 $ 23 Revenue $ — $ — Cost of sales 1 14 Interest rate swap (2,586) 7,210 Interest expense 137 137 $ (2,561) $ 7,233 $ 138 $ 151 Nondesignated Derivative Instruments We also enter into foreign exchange contracts to minimize the impact on earnings from the revaluation of short-term intercompany loans and related interest denominated in a foreign currency. These foreign exchange contracts are not designated as hedging instruments. Accordingly, the revaluation of intercompany loans and interest and the change in fair value of these derivatives are recorded in earnings. All outstanding contracts at March 31, 2023 mature within three months. The impact on earnings from the change in fair value of these foreign exchange contracts, exclusive of the corresponding impact on earnings from the revaluation of the intercompany loans and related interest, was as follows: Three Months Ended March 31, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2023 2022 Foreign exchange contracts Selling, general and administrative expense $ 1,571 $ (3,414) Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, available-for-sale and held-to-maturity investment securities, accounts receivable, loan receivables, derivative instruments, accounts payable and debt. The carrying value of cash and cash equivalents, held-to-maturity investment securities, accounts receivable, loans receivable, and accounts payable approximate fair value. The fair value of available-for-sale investment securities and derivative instruments are presented above. 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 were classified as Level 2 in the fair value hierarchy. The carrying value and estimated fair value of debt was as follows: March 31, 2023 December 31, 2022 Carrying value $ 2,172,968 $ 2,205,266 Fair value $ 1,803,375 $ 1,856,878

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges Activity in our restructuring reserves was as follows: Severance and other exit costs Balance at January 1, 2023 $ 7,647 Amounts charged to expense 3,599 Cash payments (4,641) Balance at March 31, 2023 $ 6,605 Balance at January 1, 2022 $ 5,747 Amounts charged to expense 4,184 Cash payments (3,285) Noncash activity (172) Balance at March 31, 2022 $ 6,474 The majority of the restructuring reserves are expected to be paid over the next 12 to 24 months.

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Total debt consisted of the following: Interest rate March 31, 2023 December 31, 2022 Notes due March 2024 4.625% $ 227,083 $ 236,749 Term loan due March 2026 SOFR + 2.0% 345,500 351,500 Notes due March 2027 6.875% 380,000 396,750 Term loan due March 2028 SOFR + 4.0% 441,000 442,125 Notes due March 2029 7.25% 350,000 350,000 Notes due January 2037 5.25% 35,841 35,841 Notes due March 2043 6.70% 425,000 425,000 Other debt 2,132 2,446 Principal amount 2,206,556 2,240,411 Less: unamortized costs, net 33,588 35,145 Total debt 2,172,968 2,205,266 Less: current portion long-term debt 262,439 32,764 Long-term debt $ 1,910,529 $ 2,172,502 During 2023, we purchased an aggregate $26 million of the March 2024 notes and March 2027 notes and recognized a gain of $3 million. Additionally, we made scheduled principal repayments of $7 million on our term loans. At March 31, 2023, the interest rate on the 2026 Term Loan was 6.7% and the interest rate of the 2028 Term Loan was 8.7%. The credit agreement that governs our $500 million secured revolving credit facility and term loans contains financial and non-financial covenants. At March 31, 2023, we were in compliance with all covenants and there were no outstanding borrowings under the revolving credit facility. Borrowings under the revolving credit facility and term loans are secured by assets of the company. We have outstanding interest rate swaps that effectively convert $200 million of our variable rate debt to fixed rates. Effective January 2023, the reference rate of the interest rate swaps was amended to align with the secured revolving credit facility. Under the terms of the interest rate swaps, we pay fixed-rate interest of 0.585% and receive variable-rate interest based on one-month SOFR plus 0.1%. The variable interest rates under the term loans and the swaps reset monthly.

Pensions and Other Benefit Prog

Pensions and Other Benefit Programs	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Pensions and Other Benefit Programs	Pensions and Other Benefit Programs The components of net periodic benefit (income) cost were as follows: Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Three Months Ended Three Months Ended Three Months Ended March 31, March 31, March 31, 2023 2022 2023 2022 2023 2022 Service cost $ 10 $ 24 $ 194 $ 355 $ 89 $ 179 Interest cost 16,089 11,141 5,222 3,634 1,305 940 Expected return on plan assets (21,613) (17,863) (7,344) (7,205) — — Amortization of prior service (credit) cost (5) (11) 70 68 — — Amortization of net actuarial loss (gain) 4,417 8,232 505 1,821 (356) 87 Net periodic benefit (income) cost $ (1,102) $ 1,523 $ (1,353) $ (1,327) $ 1,038 $ 1,206 Contributions to benefit plans $ 1,127 $ 1,138 $ 15,033 $ 8,221 $ 3,778 $ 4,158

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three months ended March 31, 2023 was 29.6%. The effective tax rate for the three months ended March 31, 2022 was 16.8% and includes a benefit of $1 million associated with the 2019 sale of a business. 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 15% of our unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time, in the ordinary course of business, we are involved in litigation pertaining 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 customers, employees, or others. Due to uncertainties inherent in litigation, any actions could have an adverse effect on our financial position, results of operations or cash flows; however, in management's opinion, the final outcome of outstanding matters will not have a material adverse effect on our business. As of March 31, 2023, we have entered into real estate and equipment leases with aggregate payments of $62 million and terms ranging from three

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Mar. 31, 2023
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 January 1, 2023 $ 323,338 $ — $ 5,125,677 $ (835,564) $ (4,552,798) $ 60,653 Net loss — — (7,737) — — (7,737) Other comprehensive income — — — 15,586 — 15,586 Dividends paid ($0.05 per common share) — — (8,725) — — (8,725) Issuance of common stock — (3,245) (48,363) — 48,550 (3,058) Stock-based compensation expense — 3,245 — — — 3,245 Balance at March 31, 2023 $ 323,338 $ — $ 5,060,852 $ (819,978) $ (4,504,248) $ 59,964 Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at January 1, 2022 $ 323,338 $ 2,485 $ 5,169,270 $ (780,312) $ (4,602,149) $ 112,632 Net income — — 20,821 — — 20,821 Other comprehensive loss — — — (20,018) — (20,018) Dividends paid ($0.05 per common share) — — (8,688) — — (8,688) Issuance of common stock — (6,980) (39,767) — 43,833 (2,914) Stock-based compensation expense — 4,495 — — — 4,495 Repurchase of common stock — — — — (13,446) (13,446) Balance at March 31, 2022 $ 323,338 $ — $ 5,141,636 $ (800,330) $ (4,571,762) $ 92,882

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Reclassifications out of AOCL were as follows: Gain (Loss) Reclassified from AOCL Three Months Ended March 31, 2023 2022 Cash flow hedges Cost of sales $ 1 $ 14 Interest expense, net 137 137 Total before tax 138 151 Income tax provision 34 37 Net of tax $ 104 $ 114 Available-for-sale securities Financing revenue $ 10 $ (2) Selling, general and administrative expense — (13) Total before tax 10 (15) Income tax provision (benefit) 2 (3) Net of tax $ 8 $ (12) Pension and postretirement benefit plans Prior service costs $ (65) $ (57) Actuarial losses (4,566) (10,140) Total before tax (4,631) (10,197) Income tax benefit (1,142) (2,461) Net of tax $ (3,489) $ (7,736) Changes in AOCL, net of tax were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2023 $ 12,503 $ (39,440) $ (716,056) $ (92,571) $ (835,564) Other comprehensive (loss) income before reclassifications (1,958) 3,280 — 10,887 12,209 Reclassifications into earnings (104) (8) 3,489 — 3,377 Net other comprehensive (loss) income (2,062) 3,272 3,489 10,887 15,586 Balance at March 31, 2023 $ 10,441 $ (36,168) $ (712,567) $ (81,684) $ (819,978) Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2022 $ 3,803 $ (6,249) $ (756,639) $ (21,227) $ (780,312) Other comprehensive income (loss) before reclassifications 5,447 (15,534) — (17,565) (27,652) Reclassifications into earnings (114) 12 7,736 — 7,634 Net other comprehensive income (loss) 5,333 (15,522) 7,736 (17,565) (20,018) Balance at March 31, 2022 $ 9,136 $ (21,771) $ (748,903) $ (38,792) $ (800,330)

Supplemental Financial Statemen

Supplemental Financial Statement Information	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Supplemental Financial Statement Information	Supplemental Financial Statement Information Activity in the allowance for credit losses on accounts and other receivables and other assets is presented below. See Note 7 for information regarding the allowance for credit losses on finance receivables. Three Months Ended March 31, 2023 2022 Balance at beginning of year $ 5,864 $ 29,179 Amounts charged to expense 2,523 921 Write-offs, recoveries and other (2,304) (19,519) Balance at end of period $ 6,083 $ 10,581 Accounts and other receivables $ 6,083 $ 10,061 Other assets — 520 Total $ 6,083 $ 10,581 Other income, net consisted of the following: Three Months Ended March 31, 2023 2022 (Gain) loss on debt redemption/refinancing $ (2,836) $ 4,993 Gain on sale of assets — (14,372) Gain on sale of businesses, including transaction costs — (2,522) Other income, net $ (2,836) $ (11,901) In 2022, we entered into a sale and leaseback agreement for our Shelton, Connecticut office building and received proceeds of $51 million and recognized a gain of $14 million and received proceeds of $9 million and recognized a gain of $3 million on the prior year sale of a business. Supplemental cash flow information is as follows: Three Months Ended March 31, 2023 2022 Cash interest paid $ 53,721 $ 49,430 Cash income tax payments, net of refunds $ 2,781 $ 8,079 Noncash activity Capital assets obtained under capital lease obligations $ 721 $ 8,721

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThe 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, 2022 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, 2023. 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, 2022 (2022 Annual Report).
Accounting Pronouncements Adopted in 2023 and Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Adopted in 2023 On January 1, 2023, we adopted ASU 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which requires disclosure of gross write-offs of finance receivables by year of origination. The adoption of this standard did not have a material impact on our financial statement disclosures. Accounting Pronouncements Not Yet Adopted 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 (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables disaggregate our revenue by source and timing of recognition: Three Months Ended March 31, 2023 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 $ 348,391 $ 158,902 $ 16,198 $ 523,491 $ — $ 523,491 Support services — — 105,284 105,284 — 105,284 Financing — — — — 67,049 67,049 Equipment sales — — 19,995 19,995 62,615 82,610 Supplies — — 38,835 38,835 — 38,835 Rentals — — — — 17,269 17,269 Subtotal 348,391 158,902 180,312 687,605 $ 146,933 $ 834,538 Revenue from leasing transactions and financing — — 146,933 146,933 Total revenue $ 348,391 $ 158,902 $ 327,245 $ 834,538 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 77,064 $ 77,064 Products/services transferred over time 348,391 158,902 103,248 610,541 Total $ 348,391 $ 158,902 $ 180,312 $ 687,605 Three Months Ended March 31, 2022 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 $ 418,527 $ 160,544 $ 18,313 $ 597,384 $ — $ 597,384 Support services — — 110,352 110,352 — 110,352 Financing — — — — 72,029 72,029 Equipment sales — — 21,299 21,299 67,997 89,296 Supplies — — 41,061 41,061 — 41,061 Rentals — — — — 16,820 16,820 Subtotal 418,527 160,544 191,025 770,096 $ 156,846 $ 926,942 Revenue from leasing transactions and financing — — 156,846 156,846 Total revenue $ 418,527 $ 160,544 $ 347,871 $ 926,942 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 78,373 $ 78,373 Products/services transferred over time 418,527 160,544 112,652 691,723 Total $ 418,527 $ 160,544 $ 191,025 $ 770,096
Schedule of Contract Assets and Advance Billings	Advance Billings from Contracts with Customers Balance sheet location March 31, 2023 December 31, 2022 Increase/ (decrease) Advance billings, current Advance billings $ 78,363 $ 97,904 $ (19,541) Advance billings, noncurrent Other noncurrent liabilities $ 949 $ 906 $ 43
Schedule of Future Performance Obligations	The transaction prices allocated to future performance obligations will be recognized as follows: Remainder of 2023 2024 2025-2028 Total SendTech Solutions $ 193,946 $ 220,083 $ 293,623 $ 707,652

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Reconciliation of Revenue from Segments to Consolidated Statements	The following tables provide information about our reportable segments and a reconciliation of adjusted segment EBIT to net (loss) income. Revenue Three Months Ended March 31, 2023 2022 Global Ecommerce $ 348,391 $ 418,527 Presort Services 158,902 160,544 SendTech Solutions 327,245 347,871 Total revenue $ 834,538 $ 926,942
Schedule of Reconciliation of EBIT From Segments to Consolidated Statements	Adjusted Segment EBIT Three Months Ended March 31, 2023 2022 Global Ecommerce $ (34,206) $ (13,696) Presort Services 26,905 19,632 SendTech Solutions 96,671 104,575 Total adjusted segment EBIT 89,370 110,511 Reconciliation of Adjusted Segment EBIT to net (loss) income: Unallocated corporate expenses (56,349) (57,834) Restructuring charges (3,599) (4,184) Interest expense, net (36,878) (33,726) Proxy solicitation fees (6,367) — Gain (loss) on debt redemption/refinancing 2,836 (4,993) Gain on sale of assets — 14,372 Gain on sale of businesses, including transaction costs — 878 Benefit (provision) for income taxes 3,250 (4,203) Net (loss) income $ (7,737) $ 20,821

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The calculation of basic and diluted earnings per share (EPS) is presented below. Three Months Ended March 31, 2023 2022 Numerator: Net (loss) income $ (7,737) $ 20,821 Denominator: Weighted-average shares used in basic EPS 174,626 174,115 Dilutive effect of common stock equivalents (1) — 3,919 Weighted-average shares used in diluted EPS 174,626 178,034 Basic net (loss) earnings per share $ (0.04) $ 0.12 Diluted net (loss) earnings per share $ (0.04) $ 0.12 Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive: 8,148 9,590 (1) Due to the net loss for the three months ended March 31, 2023, an additional 4.7 million of common stock equivalents were also excluded from the calculation of diluted earnings per share.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory Components	Inventories consisted of the following: March 31, December 31, Raw materials $ 28,372 $ 25,539 Supplies and service parts 35,239 27,573 Finished products 30,405 30,608 Total inventory, net $ 94,016 $ 83,720

Finance Assets and Lessor Ope_2

Finance Assets and Lessor Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Financing Receivables	Finance receivables consisted of the following: March 31, 2023 December 31, 2022 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 971,663 $ 149,227 $ 1,120,890 $ 967,298 $ 158,167 $ 1,125,465 Unguaranteed residual values 38,688 8,628 47,316 38,832 8,798 47,630 Unearned income (242,564) (47,243) (289,807) (239,238) (48,334) (287,572) Allowance for credit losses (13,458) (2,873) (16,331) (14,131) (2,893) (17,024) Net investment in sales-type lease receivables 754,329 107,739 862,068 752,761 115,738 868,499 Loan receivables Loan receivables 313,945 17,426 331,371 311,887 16,636 328,523 Allowance for credit losses (5,423) (150) (5,573) (4,787) (139) (4,926) Net investment in loan receivables 308,522 17,276 325,798 307,100 16,497 323,597 Net investment in finance receivables $ 1,062,851 $ 125,015 $ 1,187,866 $ 1,059,861 $ 132,235 $ 1,192,096
Schedule of Sales-type Lease Maturity	Maturities of gross finance receivables at March 31, 2023 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remainder 2023 $ 279,986 $ 52,333 $ 332,319 $ 229,683 $ 17,426 $ 247,109 2024 299,265 44,812 344,077 31,141 — 31,141 2025 207,186 28,061 235,247 24,666 — 24,666 2026 126,392 16,005 142,397 15,966 — 15,966 2027 55,014 6,320 61,334 10,122 — 10,122 Thereafter 3,820 1,696 5,516 2,367 — 2,367 Total $ 971,663 $ 149,227 $ 1,120,890 $ 313,945 $ 17,426 $ 331,371
Schedule of Loan Receivable Maturity	Maturities of gross finance receivables at March 31, 2023 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remainder 2023 $ 279,986 $ 52,333 $ 332,319 $ 229,683 $ 17,426 $ 247,109 2024 299,265 44,812 344,077 31,141 — 31,141 2025 207,186 28,061 235,247 24,666 — 24,666 2026 126,392 16,005 142,397 15,966 — 15,966 2027 55,014 6,320 61,334 10,122 — 10,122 Thereafter 3,820 1,696 5,516 2,367 — 2,367 Total $ 971,663 $ 149,227 $ 1,120,890 $ 313,945 $ 17,426 $ 331,371
Schedule of Past Due Financing Receivables	The aging of gross finance receivables was as follows: March 31, 2023 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 963,890 $ 146,958 $ 310,819 $ 17,321 $ 1,438,988 Past due amounts > 90 days 7,773 2,269 3,126 105 13,273 Total $ 971,663 $ 149,227 $ 313,945 $ 17,426 $ 1,452,261 December 31, 2022 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 959,203 $ 155,596 $ 308,872 $ 16,503 $ 1,440,174 Past due amounts > 90 days 8,095 2,571 3,015 133 13,814 Total $ 967,298 $ 158,167 $ 311,887 $ 16,636 $ 1,453,988
Schedule of Allowance for Credit Losses and Write-offs 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 January 1, 2023 $ 14,131 $ 2,893 $ 4,787 $ 139 $ 21,950 Amounts charged to expense 395 238 1,097 55 1,785 Write-offs (1,683) (267) (1,109) (46) (3,105) Recoveries 614 111 648 — 1,373 Other 1 (102) — 2 (99) Balance at March 31, 2023 $ 13,458 $ 2,873 $ 5,423 $ 150 $ 21,904 Sales-type Lease Receivables Loan Receivables North International North International Total Balance at January 1, 2022 $ 19,546 $ 3,246 $ 3,259 $ 167 $ 26,218 Amounts charged to expense 297 47 616 143 1,103 Write-offs (1,640) (360) (1,341) (117) (3,458) Recoveries 744 — 761 — 1,505 Other 13 (143) 2 (9) (137) Balance at March 31, 2022 $ 18,960 $ 2,790 $ 3,297 $ 184 $ 25,231 The table below shows write-offs of gross finance receivables by year of origination. March 31, 2023 Sales Type Lease Receivables Loan Receivables Total 2022 2021 2020 2019 Prior Write-offs $ 455 $ 675 $ 412 $ 250 $ 158 $ 1,155 $ 3,105
Schedule of Financing Receivable Credit Quality Indicators	The table below shows gross finance receivables by relative risk class and year of origination based on the relative scores of the accounts within each class. March 31, 2023 Sales Type Lease Receivables Loan Receivables Total 2023 2022 2021 2020 2019 Prior Low $ 77,542 $ 266,461 $ 193,093 $ 127,566 $ 81,723 $ 32,032 $ 243,405 $ 1,021,822 Medium 15,687 49,635 36,497 27,075 18,527 8,744 55,282 211,447 High 1,251 5,104 3,358 2,806 1,326 996 6,080 20,921 Not Scored 40,595 58,689 38,828 19,716 10,064 3,575 26,604 198,071 Total $ 135,075 $ 379,889 $ 271,776 $ 177,163 $ 111,640 $ 45,347 $ 331,371 $ 1,452,261 December 31, 2022 Sales Type Lease Receivables Loan Receivables Total 2022 2021 2020 2019 2018 Prior Low $ 286,297 $ 206,511 $ 140,800 $ 95,485 $ 34,721 $ 12,674 $ 239,635 $ 1,016,123 Medium 53,419 40,669 27,013 19,668 6,751 3,441 56,048 207,009 High 6,492 3,840 3,119 1,942 750 508 6,800 23,451 Not Scored 71,435 53,831 29,957 19,232 5,889 1,021 26,040 207,405 Total $ 417,643 $ 304,851 $ 200,889 $ 136,327 $ 48,111 $ 17,644 $ 328,523 $ 1,453,988
Schedule of Sales-type Lease, Lease Income	Lease income from sales-type leases, excluding variable lease payments, was as follows: Three Months Ended March 31, 2023 2022 Profit recognized at commencement $ 31,822 $ 35,040 Interest income 38,931 42,283 Total lease income from sales-type leases $ 70,753 $ 77,323
Schedule of Lessor, Payments to be Received	Maturities of these operating leases are as follows: Remainder 2023 $ 15,217 2024 17,812 2025 19,591 2026 5,808 2027 2,205 Thereafter 434 Total $ 61,067

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: March 31, 2023 December 31, 2022 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 155,718 $ (83,997) $ 71,721 $ 155,715 $ (80,188) $ 75,527 Software & technology 22,020 (19,713) 2,307 22,000 (19,583) 2,417 Total intangible assets $ 177,738 $ (103,710) $ 74,028 $ 177,715 $ (99,771) $ 77,944
Schedule of Amortization Expense In Future Periods	Future amortization expense as of March 31, 2023 is shown in the table below. Actual amortization expense may differ due to, among other things, fluctuations in foreign currency exchange rates, acquisitions, divestitures and impairment charges. Remainder 2023 $ 11,795 2024 15,727 2025 15,523 2026 14,534 2027 11,478 Thereafter 4,971 Total $ 74,028
Schedule of Goodwill	Changes in the carrying value of goodwill by reporting segment are shown in the table below. December 31, 2022 Currency impact March 31, Global Ecommerce $ 339,184 $ — $ 339,184 Presort Services 223,763 — 223,763 SendTech Solutions 504,004 2,709 506,713 Total goodwill $ 1,066,951 $ 2,709 $ 1,069,660

Fair Value Measurements and D_2

Fair Value Measurements and Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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. March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 13,523 $ 201,911 $ — $ 215,434 Equity securities — 15,327 — 15,327 Commingled fixed income securities 1,553 5,360 — 6,913 Government and related securities 10,370 18,869 — 29,239 Corporate debt securities — 53,607 — 53,607 Mortgage-backed / asset-backed securities — 126,737 — 126,737 Derivatives Interest rate swap — 12,697 — 12,697 Foreign exchange contracts — 1,818 — 1,818 Total assets $ 25,446 $ 436,326 $ — $ 461,772 Liabilities: Derivatives Foreign exchange contracts $ — $ (53) $ — $ (53) Total liabilities $ — $ (53) $ — $ (53) December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 29,087 $ 238,536 $ — $ 267,623 Equity securities — 13,233 — 13,233 Commingled fixed income securities 1,520 6,526 — 8,046 Government and related securities 10,253 18,796 — 29,049 Corporate debt securities — 52,319 — 52,319 Mortgage-backed / asset-backed securities — 126,882 — 126,882 Derivatives Interest rate swap — 15,283 — 15,283 Foreign exchange contracts — 479 — 479 Total assets $ 40,860 $ 472,054 $ — $ 512,914 Liabilities: Derivatives Foreign exchange contracts $ — $ (1,472) $ — $ (1,472) Total liabilities $ — $ (1,472) $ — $ (1,472)
Schedule of Available-for-sale Securities Reconciliation	Available-for-sale securities consisted of the following: March 31, 2023 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 35,263 $ — $ (7,442) $ 27,821 Corporate debt securities 66,020 1 (12,414) 53,607 Commingled fixed income securities 1,759 — (206) 1,553 Mortgage-backed / asset-backed securities 154,256 — (27,519) 126,737 Total $ 257,298 $ 1 $ (47,581) $ 209,718 December 31, 2022 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Government and related securities $ 35,744 $ 11 $ (8,210) $ 27,545 Corporate debt securities 66,300 — (13,981) 52,319 Commingled fixed income securities 1,749 — (229) 1,520 Mortgage-backed / asset-backed securities 156,352 — (29,470) 126,882 Total $ 260,145 $ 11 $ (51,890) $ 208,266
Schedule of Unrealized Holding Losses	Investment securities in a loss position were as follows: March 31, 2023 December 31, 2022 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Greater than 12 continuous months Government and related securities $ 17,515 $ 2,388 $ 17,063 $ 2,753 Corporate debt securities 52,359 12,398 48,812 13,749 Mortgage-backed / asset-backed securities 117,321 26,504 114,839 28,040 Total $ 187,195 $ 41,290 $ 180,714 $ 44,542 Less than 12 continuous months Government and related securities $ 10,306 $ 5,054 $ 10,061 $ 5,457 Corporate debt securities 1,180 16 3,508 232 Commingled fixed income securities 1,553 206 1,520 229 Mortgage-backed / asset-backed securities 9,416 1,015 12,042 1,430 Total $ 22,455 $ 6,291 $ 27,131 $ 7,348
Schedule of Available-for-sale Securities	Scheduled maturities of available-for-sale securities at March 31, 2023 were as follows: Amortized cost Estimated fair value Within 1 year $ 2,601 $ 2,388 After 1 year through 5 years 15,175 13,873 After 5 years through 10 years 72,323 60,012 After 10 years 167,199 133,445 Total $ 257,298 $ 209,718
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 March 31, December 31, Derivatives designated as Foreign exchange contracts Other current assets and prepayments $ — $ 15 Accounts payable and accrued liabilities (34) (23) Interest rate swaps Other assets 12,697 15,283 Derivatives not designated as Foreign exchange contracts Other current assets and prepayments 1,818 464 Accounts payable and accrued liabilities (19) (1,449) Total derivative assets $ 14,515 $ 15,762 Total derivative liabilities (53) (1,472) Total net derivative asset $ 14,462 $ 14,290
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 March 31, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2023 2022 2023 2022 Foreign exchange contracts $ 25 $ 23 Revenue $ — $ — Cost of sales 1 14 Interest rate swap (2,586) 7,210 Interest expense 137 137 $ (2,561) $ 7,233 $ 138 $ 151
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The impact on earnings from the change in fair value of these foreign exchange contracts, exclusive of the corresponding impact on earnings from the revaluation of the intercompany loans and related interest, was as follows: Three Months Ended March 31, Derivative Gain (Loss) Recognized in Earnings Derivatives Instrument Location of Derivative Gain (Loss) 2023 2022 Foreign exchange contracts Selling, general and administrative expense $ 1,571 $ (3,414)
Schedule of Fair Value, by Balance Sheet Grouping	The carrying value and estimated fair value of debt was as follows: March 31, 2023 December 31, 2022 Carrying value $ 2,172,968 $ 2,205,266 Fair value $ 1,803,375 $ 1,856,878

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Activity in our restructuring reserves was as follows: Severance and other exit costs Balance at January 1, 2023 $ 7,647 Amounts charged to expense 3,599 Cash payments (4,641) Balance at March 31, 2023 $ 6,605 Balance at January 1, 2022 $ 5,747 Amounts charged to expense 4,184 Cash payments (3,285) Noncash activity (172) Balance at March 31, 2022 $ 6,474

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Total debt consisted of the following: Interest rate March 31, 2023 December 31, 2022 Notes due March 2024 4.625% $ 227,083 $ 236,749 Term loan due March 2026 SOFR + 2.0% 345,500 351,500 Notes due March 2027 6.875% 380,000 396,750 Term loan due March 2028 SOFR + 4.0% 441,000 442,125 Notes due March 2029 7.25% 350,000 350,000 Notes due January 2037 5.25% 35,841 35,841 Notes due March 2043 6.70% 425,000 425,000 Other debt 2,132 2,446 Principal amount 2,206,556 2,240,411 Less: unamortized costs, net 33,588 35,145 Total debt 2,172,968 2,205,266 Less: current portion long-term debt 262,439 32,764 Long-term debt $ 1,910,529 $ 2,172,502

Pensions and Other Benefit Pr_2

Pensions and Other Benefit Programs (Tables)	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Schedule of Costs of Retirement Plans	The components of net periodic benefit (income) cost were as follows: Defined Benefit Pension Plans Nonpension Postretirement Benefit Plans United States Foreign Three Months Ended Three Months Ended Three Months Ended March 31, March 31, March 31, 2023 2022 2023 2022 2023 2022 Service cost $ 10 $ 24 $ 194 $ 355 $ 89 $ 179 Interest cost 16,089 11,141 5,222 3,634 1,305 940 Expected return on plan assets (21,613) (17,863) (7,344) (7,205) — — Amortization of prior service (credit) cost (5) (11) 70 68 — — Amortization of net actuarial loss (gain) 4,417 8,232 505 1,821 (356) 87 Net periodic benefit (income) cost $ (1,102) $ 1,523 $ (1,353) $ (1,327) $ 1,038 $ 1,206 Contributions to benefit plans $ 1,127 $ 1,138 $ 15,033 $ 8,221 $ 3,778 $ 4,158

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	3 Months Ended
	Mar. 31, 2023
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 January 1, 2023 $ 323,338 $ — $ 5,125,677 $ (835,564) $ (4,552,798) $ 60,653 Net loss — — (7,737) — — (7,737) Other comprehensive income — — — 15,586 — 15,586 Dividends paid ($0.05 per common share) — — (8,725) — — (8,725) Issuance of common stock — (3,245) (48,363) — 48,550 (3,058) Stock-based compensation expense — 3,245 — — — 3,245 Balance at March 31, 2023 $ 323,338 $ — $ 5,060,852 $ (819,978) $ (4,504,248) $ 59,964 Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock Total equity Balance at January 1, 2022 $ 323,338 $ 2,485 $ 5,169,270 $ (780,312) $ (4,602,149) $ 112,632 Net income — — 20,821 — — 20,821 Other comprehensive loss — — — (20,018) — (20,018) Dividends paid ($0.05 per common share) — — (8,688) — — (8,688) Issuance of common stock — (6,980) (39,767) — 43,833 (2,914) Stock-based compensation expense — 4,495 — — — 4,495 Repurchase of common stock — — — — (13,446) (13,446) Balance at March 31, 2022 $ 323,338 $ — $ 5,141,636 $ (800,330) $ (4,571,762) $ 92,882

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of AOCL were as follows: Gain (Loss) Reclassified from AOCL Three Months Ended March 31, 2023 2022 Cash flow hedges Cost of sales $ 1 $ 14 Interest expense, net 137 137 Total before tax 138 151 Income tax provision 34 37 Net of tax $ 104 $ 114 Available-for-sale securities Financing revenue $ 10 $ (2) Selling, general and administrative expense — (13) Total before tax 10 (15) Income tax provision (benefit) 2 (3) Net of tax $ 8 $ (12) Pension and postretirement benefit plans Prior service costs $ (65) $ (57) Actuarial losses (4,566) (10,140) Total before tax (4,631) (10,197) Income tax benefit (1,142) (2,461) Net of tax $ (3,489) $ (7,736)
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in AOCL, net of tax were as follows: Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2023 $ 12,503 $ (39,440) $ (716,056) $ (92,571) $ (835,564) Other comprehensive (loss) income before reclassifications (1,958) 3,280 — 10,887 12,209 Reclassifications into earnings (104) (8) 3,489 — 3,377 Net other comprehensive (loss) income (2,062) 3,272 3,489 10,887 15,586 Balance at March 31, 2023 $ 10,441 $ (36,168) $ (712,567) $ (81,684) $ (819,978) Cash flow hedges Available for sale securities Pension and postretirement benefit plans Foreign currency adjustments Total Balance at January 1, 2022 $ 3,803 $ (6,249) $ (756,639) $ (21,227) $ (780,312) Other comprehensive income (loss) before reclassifications 5,447 (15,534) — (17,565) (27,652) Reclassifications into earnings (114) 12 7,736 — 7,634 Net other comprehensive income (loss) 5,333 (15,522) 7,736 (17,565) (20,018) Balance at March 31, 2022 $ 9,136 $ (21,771) $ (748,903) $ (38,792) $ (800,330)

Supplemental Financial Statem_2

Supplemental Financial Statement Information (Tables)	3 Months Ended
	Mar. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Accounts Receivable and Other Assets, Allowance for Credit Loss	Activity in the allowance for credit losses on accounts and other receivables and other assets is presented below. See Note 7 for information regarding the allowance for credit losses on finance receivables. Three Months Ended March 31, 2023 2022 Balance at beginning of year $ 5,864 $ 29,179 Amounts charged to expense 2,523 921 Write-offs, recoveries and other (2,304) (19,519) Balance at end of period $ 6,083 $ 10,581 Accounts and other receivables $ 6,083 $ 10,061 Other assets — 520 Total $ 6,083 $ 10,581
Schedule of Other (Income) Expense	Other income, net consisted of the following: Three Months Ended March 31, 2023 2022 (Gain) loss on debt redemption/refinancing $ (2,836) $ 4,993 Gain on sale of assets — (14,372) Gain on sale of businesses, including transaction costs — (2,522) Other income, net $ (2,836) $ (11,901)
Schedule of Cash Flow Supplemental Information	Supplemental cash flow information is as follows: Three Months Ended March 31, 2023 2022 Cash interest paid $ 53,721 $ 49,430 Cash income tax payments, net of refunds $ 2,781 $ 8,079 Noncash activity Capital assets obtained under capital lease obligations $ 721 $ 8,721

Description of Business and B_3

Description of Business and Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percent of fortune 500 companies serviced	90%
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash from operating activities	$ (39,714)		$ 10,562
Net cash from investing activities	$ (41,413)		$ 28,029
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash from operating activities		$ (5,000)
Net cash from investing activities		$ 5,000

Revenue (Disaggregates of Reven

Revenue (Disaggregates of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	$ 834,538	$ 926,942
Total consolidated revenue	834,538	926,942
ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	687,605	770,096
Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	77,064	78,373
Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	610,541	691,723
Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	687,605	770,096
Revenue from leasing transactions and financing	146,933	156,846
Total consolidated revenue	834,538	926,942
Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	523,491	597,384
Revenue from leasing transactions and financing	0	0
Total consolidated revenue	523,491	597,384
Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	105,284	110,352
Revenue from leasing transactions and financing	0	0
Total consolidated revenue	105,284	110,352
Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Revenue from leasing transactions and financing	67,049	72,029
Total consolidated revenue	67,049	72,029
Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	19,995	21,299
Revenue from leasing transactions and financing	62,615	67,997
Total consolidated revenue	82,610	89,296
Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	38,835	41,061
Revenue from leasing transactions and financing	0	0
Total consolidated revenue	38,835	41,061
Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Revenue from leasing transactions and financing	17,269	16,820
Total consolidated revenue	17,269	16,820
Revenue from leasing transactions and financing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	146,933	156,846
Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	348,391	418,527
Global Ecommerce | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	348,391	418,527
Global Ecommerce | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Global Ecommerce | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	348,391	418,527
Global Ecommerce | Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	348,391	418,527
Global Ecommerce | Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	348,391	418,527
Global Ecommerce | Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Global Ecommerce | Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Global Ecommerce | Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Global Ecommerce | Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Global Ecommerce | Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Global Ecommerce | Revenue from leasing transactions and financing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	0	0
Presort Services
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	158,902	160,544
Presort Services | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	158,902	160,544
Presort Services | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Presort Services | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	158,902	160,544
Presort Services | Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	158,902	160,544
Presort Services | Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	158,902	160,544
Presort Services | Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Presort Services | Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Presort Services | Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Presort Services | Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Presort Services | Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Presort Services | Revenue from leasing transactions and financing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	0	0
SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	327,245	347,871
SendTech Solutions | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	180,312	191,025
SendTech Solutions | Products/services transferred at a point in time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	77,064	78,373
SendTech Solutions | Products/services transferred over time | ASC 606
Disaggregation of Revenue [Line Items]
Revenue from products and services	103,248	112,652
SendTech Solutions | Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	180,312	191,025
SendTech Solutions | Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	16,198	18,313
SendTech Solutions | Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	105,284	110,352
SendTech Solutions | Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
SendTech Solutions | Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	19,995	21,299
SendTech Solutions | Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	38,835	41,061
SendTech Solutions | Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
SendTech Solutions | Revenue from leasing transactions and financing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	$ 146,933	$ 156,846

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Advanced billings, revenue recognized	$ 57
Lease transactions	$ 8	$ 7
Expected timing of satisfaction period, not included	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
Support services | Minimum
Disaggregation of Revenue [Line Items]
Period of recognition	1 year
Support 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	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Advance billings, current	$ 78,363	$ 97,904
Advance billings, noncurrent	949	$ 906
Increase/ (decrease)
Advance billings, current	(19,541)
Advance billings, noncurrent	$ 43

Revenue (Future Performance Obl

Revenue (Future Performance Obligations) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 707,652
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 193,946
Expected timing of satisfaction period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 220,083
Expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 293,623
Expected timing of satisfaction period	3 years

Segment Information (Revenues)

Segment Information (Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Financing revenue	$ 834,538	$ 926,942
Digital Commerce Solutions | Global Ecommerce
Segment Reporting Information [Line Items]
Total from contracts with customers	348,391	418,527
Digital Commerce Solutions | Presort Services
Segment Reporting Information [Line Items]
Total from contracts with customers	158,902	160,544
SendTech Solutions
Segment Reporting Information [Line Items]
Total from contracts with customers	$ 327,245	$ 347,871

Segment Information (Net (Loss)

Segment Information (Net (Loss) Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of Adjusted Segment EBIT to net (loss) income:
Restructuring charges	$ (3,599)	$ (4,184)
Interest expense, net	(22,342)	(22,124)
Gain (loss) on debt redemption/refinancing	2,836	(4,993)
Gain on sale of businesses, including transaction costs	0	14,372
Gain (loss) on sale of business	0	2,522
Benefit (provision) for income taxes	3,250	(4,203)
Net (loss) income	(7,737)	20,821
Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBIT	89,370	110,511
Segment Reconciling Items
Reconciliation of Adjusted Segment EBIT to net (loss) income:
Unallocated corporate expenses	(56,349)	(57,834)
Restructuring charges	(3,599)	(4,184)
Interest expense, net	(36,878)	(33,726)
Proxy solicitation fees	(6,367)	0
Gain (loss) on debt redemption/refinancing	2,836	(4,993)
Gain on sale of businesses, including transaction costs	0	14,372
Gain (loss) on sale of business	0	878
Benefit (provision) for income taxes	3,250	(4,203)
Digital Commerce Solutions | Global Ecommerce
Segment Reporting Information [Line Items]
Adjusted EBIT	(34,206)	(13,696)
Digital Commerce Solutions | Presort Services
Segment Reporting Information [Line Items]
Adjusted EBIT	26,905	19,632
SendTech Solutions | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBIT	$ 96,671	$ 104,575

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net (loss) income	$ (7,737)	$ 20,821
Denominator:
Weighted-average shares used in basic EPS (in shares)	174,626	174,115
Dilutive effect of common stock equivalents (in shares)	0	3,919
Weighted-average shares used in diluted EPS (in shares)	174,626	178,034
Basic net (loss) earnings per share (in dollars per share)	$ (0.04)	$ 0.12
Diluted net (loss) earnings per share (in dollars per share)	$ (0.04)	$ 0.12
Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive (in shares)	8,148	9,590
Dilutive effect of common stock equivalents (in shares)	4,700

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 28,372	$ 25,539
Supplies and service parts	35,239	27,573
Finished products	30,405	30,608
Total inventory, net	$ 94,016	$ 83,720

Finance Assets and Lessor Ope_3

Finance Assets and Lessor Operating Leases (Finance Receivables) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (21,904)	$ (21,950)	$ (25,231)	$ (26,218)
Net investment in receivables	1,187,866	1,192,096
North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	1,062,851	1,059,861
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	125,015	132,235
Sales-type lease receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,120,890	1,125,465
Unguaranteed residual values	47,316	47,630
Unearned income	(289,807)	(287,572)
Allowance for credit losses	(16,331)	(17,024)
Net investment in receivables	862,068	868,499
Sales-type lease receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	971,663	967,298
Unguaranteed residual values	38,688	38,832
Unearned income	(242,564)	(239,238)
Allowance for credit losses	(13,458)	(14,131)	(18,960)	(19,546)
Net investment in receivables	754,329	752,761
Sales-type lease receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	149,227	158,167
Unguaranteed residual values	8,628	8,798
Unearned income	(47,243)	(48,334)
Allowance for credit losses	(2,873)	(2,893)	(2,790)	(3,246)
Net investment in receivables	107,739	115,738
Loan receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	331,371	328,523
Allowance for credit losses	(5,573)	(4,926)
Net investment in receivables	325,798	323,597
Loan receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	313,945	311,887
Allowance for credit losses	(5,423)	(4,787)	(3,297)	(3,259)
Net investment in receivables	308,522	307,100
Loan receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	17,426	16,636
Allowance for credit losses	(150)	(139)	$ (184)	$ (167)
Net investment in receivables	$ 17,276	$ 16,497
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	Mar. 31, 2023 USD ($)
Sales-type Lease Receivables
Remainder 2023	$ 332,319
2024	344,077
2025	235,247
2026	142,397
2027	61,334
Thereafter	5,516
Total	1,120,890
Loan Receivables
Remainder 2023	247,109
2024	31,141
2025	24,666
2026	15,966
2027	10,122
Thereafter	2,367
Total	331,371
North America
Sales-type Lease Receivables
Remainder 2023	279,986
2024	299,265
2025	207,186
2026	126,392
2027	55,014
Thereafter	3,820
Total	971,663
Loan Receivables
Remainder 2023	229,683
2024	31,141
2025	24,666
2026	15,966
2027	10,122
Thereafter	2,367
Total	313,945
International
Sales-type Lease Receivables
Remainder 2023	52,333
2024	44,812
2025	28,061
2026	16,005
2027	6,320
Thereafter	1,696
Total	149,227
Loan Receivables
Remainder 2023	17,426
2024	0
2025	0
2026	0
2027	0
Thereafter	0
Total	$ 17,426

Finance Assets and Lessor Ope_5

Finance Assets and Lessor Operating Leases (Aging of Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Total	$ 1,452,261	$ 1,453,988
0 - 90 days
Financing Receivable, Past Due [Line Items]
Total	1,438,988	1,440,174
Greater than 90 days
Financing Receivable, Past Due [Line Items]
Total	13,273	13,814
Sales-type lease receivables | North America
Financing Receivable, Past Due [Line Items]
Total	971,663	967,298
Sales-type lease receivables | North America | 0 - 90 days
Financing Receivable, Past Due [Line Items]
Total	963,890	959,203
Sales-type lease receivables | North America | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Total	7,773	8,095
Sales-type lease receivables | International
Financing Receivable, Past Due [Line Items]
Total	149,227	158,167
Sales-type lease receivables | International | 0 - 90 days
Financing Receivable, Past Due [Line Items]
Total	146,958	155,596
Sales-type lease receivables | International | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Total	2,269	2,571
Loan receivables
Financing Receivable, Past Due [Line Items]
Total	331,371	328,523
Loan receivables | North America
Financing Receivable, Past Due [Line Items]
Total	313,945	311,887
Loan receivables | North America | 0 - 90 days
Financing Receivable, Past Due [Line Items]
Total	310,819	308,872
Loan receivables | North America | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Total	3,126	3,015
Loan receivables | International
Financing Receivable, Past Due [Line Items]
Total	17,426	16,636
Loan receivables | International | 0 - 90 days
Financing Receivable, Past Due [Line Items]
Total	17,321	16,503
Loan receivables | International | Greater than 90 days
Financing Receivable, Past Due [Line Items]
Total	$ 105	$ 133

Finance Assets and Lessor Ope_6

Finance Assets and Lessor Operating Leases (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Revenue recognition resume period (less than)	60 days
Allowance for Credit Losses
Beginning Balance	$ 21,950	$ 26,218
Amounts charged to expense	1,785	1,103
Write-offs	(3,105)	(3,458)
Recoveries	1,373	1,505
Other	(99)	(137)
Ending Balance	21,904	25,231
Sales-type lease receivables
Allowance for Credit Losses
Beginning Balance	17,024
Ending Balance	16,331
Sales-type lease receivables | North America
Allowance for Credit Losses
Beginning Balance	14,131	19,546
Amounts charged to expense	395	297
Write-offs	(1,683)	(1,640)
Recoveries	614	744
Other	1	13
Ending Balance	13,458	18,960
Sales-type lease receivables | International
Allowance for Credit Losses
Beginning Balance	2,893	3,246
Amounts charged to expense	238	47
Write-offs	(267)	(360)
Recoveries	111	0
Other	(102)	(143)
Ending Balance	$ 2,873	2,790
Loan receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Revenue recognition discontinuation period (greater than)	90 days
Allowance for Credit Losses
Beginning Balance	$ 4,926
Write-offs	(1,155)
Ending Balance	5,573
Loan receivables | North America
Allowance for Credit Losses
Beginning Balance	4,787	3,259
Amounts charged to expense	1,097	616
Write-offs	(1,109)	(1,341)
Recoveries	648	761
Other	0	2
Ending Balance	5,423	3,297
Loan receivables | International
Allowance for Credit Losses
Beginning Balance	139	167
Amounts charged to expense	55	143
Write-offs	(46)	(117)
Recoveries	0	0
Other	2	(9)
Ending Balance	$ 150	$ 184

Finance Assets and Lessor Ope_7

Finance Assets and Lessor Operating Leases (Write Offs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 3,105	$ 3,458
Sales-type lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Year one	455
Year two	675
Year three	412
Year four	250
Prior	158
Loan receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 1,155

Finance Assets and Lessor Ope_8

Finance Assets and Lessor Operating Leases (Credit Quality) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Portfolio small dollar applications below thousand	$ 50
Total	$ 1,452,261	$ 1,453,988
Low
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	5%
Total	$ 1,021,822	1,016,123
Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 211,447	207,009
Medium | Minimum
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	5%
Medium | Maximum
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	10%
High
Financing Receivable, Credit Quality Indicator [Line Items]
Approximate percentage of portfolio	10%
Total	$ 20,921	23,451
Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 198,071	207,405
Not Scored | Financing Receivable | Geographic Concentration Risk
Financing Receivable, Credit Quality Indicator [Line Items]
Concentration risk, percentage	15%
North America | Financing Receivable | Geographic Concentration Risk
Financing Receivable, Credit Quality Indicator [Line Items]
Concentration risk, percentage	85%
Sales-type lease receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 135,075	417,643
Year two	379,889	304,851
Year three	271,776	200,889
Year four	177,163	136,327
Year five	111,640	48,111
Prior	45,347	17,644
Sales-type lease receivables | Low
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	77,542	286,297
Year two	266,461	206,511
Year three	193,093	140,800
Year four	127,566	95,485
Year five	81,723	34,721
Prior	32,032	12,674
Sales-type lease receivables | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	15,687	53,419
Year two	49,635	40,669
Year three	36,497	27,013
Year four	27,075	19,668
Year five	18,527	6,751
Prior	8,744	3,441
Sales-type lease receivables | High
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	1,251	6,492
Year two	5,104	3,840
Year three	3,358	3,119
Year four	2,806	1,942
Year five	1,326	750
Prior	996	508
Sales-type lease receivables | Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	40,595	71,435
Year two	58,689	53,831
Year three	38,828	29,957
Year four	19,716	19,232
Year five	10,064	5,889
Prior	3,575	1,021
Sales-type lease receivables | North America
Financing Receivable, Credit Quality Indicator [Line Items]
Total	971,663	967,298
Loan receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Total	331,371	328,523
Loan receivables | Low
Financing Receivable, Credit Quality Indicator [Line Items]
Total	243,405	239,635
Loan receivables | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Total	55,282	56,048
Loan receivables | High
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,080	6,800
Loan receivables | Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Total	26,604	26,040
Loan receivables | North America
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 313,945	$ 311,887

Finance Assets and Lessor Ope_9

Finance Assets and Lessor Operating Leases (Lease Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Receivables [Abstract]
Profit recognized at commencement	$ 31,822	$ 35,040
Interest income	38,931	42,283
Total lease income from sales-type leases	$ 70,753	$ 77,323

Finance Assets and Lessor Op_10

Finance Assets and Lessor Operating Leases (Operating Leases) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Lessor, Lease, Description [Line Items]
Remainder 2023	$ 15,217
2024	17,812
2025	19,591
2026	5,808
2027	2,205
Thereafter	434
Total	$ 61,067
Mailing Equipment | Minimum
Lessor, Lease, Description [Line Items]
Term of operating leases	1 year
Mailing Equipment | Maximum
Lessor, Lease, Description [Line Items]
Term of operating leases	5 years

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Finite lived intangible assets
Gross Carrying Amount	$ 177,738		$ 177,715
Accumulated Amortization	(103,710)		(99,771)
Net Carrying Amount	74,028		77,944
Amortization expense	4,000	$ 8,000
Customer relationships
Finite lived intangible assets
Gross Carrying Amount	155,718		155,715
Accumulated Amortization	(83,997)		(80,188)
Net Carrying Amount	71,721		75,527
Software & technology
Finite lived intangible assets
Gross Carrying Amount	22,020		22,000
Accumulated Amortization	(19,713)		(19,583)
Net Carrying Amount	$ 2,307		$ 2,417

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite lived intangible assets future amortization expense
Remainder 2023	$ 11,795
2024	15,727
2025	15,523
2026	14,534
2027	11,478
Thereafter	4,971
Net Carrying Amount	$ 74,028	$ 77,944

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill
Beginning balance	$ 1,066,951
Currency impact	2,709
Ending balance	1,069,660
Digital Commerce Solutions | Global Ecommerce
Goodwill
Beginning balance	339,184
Currency impact	0
Ending balance	339,184
Digital Commerce Solutions | Presort Services
Goodwill
Beginning balance	223,763
Currency impact	0
Ending balance	223,763
SendTech Solutions
Goodwill
Beginning balance	504,004
Currency impact	2,709
Ending balance	$ 506,713

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Goodwill Narrative) (Details)	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value percentage	10%

Fair Value Measurements and D_3

Fair Value Measurements and Derivative Instruments (Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 209,718	$ 208,266
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	215,434	267,623
Equity securities	15,327	13,233
Mortgage-backed / asset-backed securities	126,737	126,882
Total assets	461,772	512,914
Total liabilities	(53)	(1,472)
Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	13,523	29,087
Equity securities	0	0
Mortgage-backed / asset-backed securities	0	0
Total assets	25,446	40,860
Total liabilities	0	0
Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	201,911	238,536
Equity securities	15,327	13,233
Mortgage-backed / asset-backed securities	126,737	126,882
Total assets	436,326	472,054
Total liabilities	(53)	(1,472)
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
Total liabilities	0	0
Interest rate swaps | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	12,697	15,283
Interest rate swaps | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Interest rate swaps | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	12,697	15,283
Interest rate swaps | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Foreign exchange contracts | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	1,818	479
Derivative liabilities	(53)	(1,472)
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	1,818	479
Derivative liabilities	(53)	(1,472)
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	1,553	1,520
Commingled fixed income securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	6,913	8,046
Commingled fixed income securities | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,553	1,520
Commingled fixed income securities | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	5,360	6,526
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	27,821	27,545
Government and related securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	29,239	29,049
Government and related securities | Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	10,370	10,253
Government and related securities | Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	18,869	18,796
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	53,607	52,319
Corporate debt securities | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	53,607	52,319
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	53,607	52,319
Corporate debt securities | Level 3 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 0	$ 0

Fair Value Measurements and D_4

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	$ 257,298	$ 260,145
Gross unrealized gains	1	11
Gross unrealized losses	(47,581)	(51,890)
Estimated fair value	209,718	208,266
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	35,263	35,744
Gross unrealized gains	0	11
Gross unrealized losses	(7,442)	(8,210)
Estimated fair value	27,821	27,545
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	66,020	66,300
Gross unrealized gains	1	0
Gross unrealized losses	(12,414)	(13,981)
Estimated fair value	53,607	52,319
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	1,759	1,749
Gross unrealized gains	0	0
Gross unrealized losses	(206)	(229)
Estimated fair value	1,553	1,520
Mortgage-backed / asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	154,256	156,352
Gross unrealized gains	0	0
Gross unrealized losses	(27,519)	(29,470)
Estimated fair value	$ 126,737	$ 126,882

Fair Value Measurements and D_5

Fair Value Measurements and Derivative Instruments (Unrealized Holding Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Greater than 12 continuous months, Fair Value	$ 187,195	$ 180,714
Greater than 12 continuous months, Gross unrealized losses	41,290	44,542
Less than 12 continuous months, Fair Value	22,455	27,131
Less than 12 continuous months, Gross unrealized losses	6,291	7,348
Government and related securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Greater than 12 continuous months, Fair Value	17,515	17,063
Greater than 12 continuous months, Gross unrealized losses	2,388	2,753
Less than 12 continuous months, Fair Value	10,306	10,061
Less than 12 continuous months, Gross unrealized losses	5,054	5,457
Corporate debt securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Greater than 12 continuous months, Fair Value	52,359	48,812
Greater than 12 continuous months, Gross unrealized losses	12,398	13,749
Less than 12 continuous months, Fair Value	1,180	3,508
Less than 12 continuous months, Gross unrealized losses	16	232
Commingled fixed income securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Less than 12 continuous months, Fair Value	1,553	1,520
Less than 12 continuous months, Gross unrealized losses	206	229
Mortgage-backed / asset-backed securities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Greater than 12 continuous months, Fair Value	117,321	114,839
Greater than 12 continuous months, Gross unrealized losses	26,504	28,040
Less than 12 continuous months, Fair Value	9,416	12,042
Less than 12 continuous months, Gross unrealized losses	$ 1,015	$ 1,430

Fair Value Measurements and D_6

Fair Value Measurements and Derivative Instruments (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Percentage of securities in loss position	99%
Held-to-maturity securities	$ 23,000,000	$ 22,000,000
Held-to-maturity securities, term	2 years
Foreign exchange contracts
Derivative [Line Items]
Derivative notional amount	$ 1,000,000	$ 1,000,000
Derivative, term of contract	3 months
Interest rate swaps
Derivative [Line Items]
Derivative notional amount	$ 200,000,000

Fair Value Measurements and D_7

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized cost
Within 1 year	$ 2,601
After 1 year through 5 years	15,175
After 5 years through 10 years	72,323
After 10 years	167,199
Amortized cost	257,298	$ 260,145
Estimated fair value
Within 1 year	2,388
After 1 year through 5 years	13,873
After 5 years through 10 years	60,012
After 10 years	133,445
Total	$ 209,718	$ 208,266

Fair Value Measurements and D_8

Fair Value Measurements and Derivative Instruments (Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Total net derivative asset	$ 14,462	$ 14,290
Total derivative assets
Derivative [Line Items]
Total net derivative asset	14,515	15,762
Total derivative liabilities
Derivative [Line Items]
Total net derivative asset	(53)	(1,472)
Foreign exchange contracts | Derivatives designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative asset	0	15
Foreign exchange contracts | Derivatives designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative asset	(34)	(23)
Foreign exchange contracts | Derivatives not designated as hedging instruments | Other current assets and prepayments
Derivative [Line Items]
Total net derivative asset	1,818	464
Foreign exchange contracts | Derivatives not designated as hedging instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Total net derivative asset	(19)	(1,449)
Interest rate swaps | Derivatives designated as hedging instruments | Other assets
Derivative [Line Items]
Total net derivative asset	$ 12,697	$ 15,283

Fair Value Measurements and D_9

Fair Value Measurements and Derivative Instruments (Cash Flow Hedging Relationships) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	$ (2,561)	$ 7,233
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	138	151
Foreign exchange contracts
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	25	23
Derivative Gain (Loss) Recognized in Earnings	1,571	(3,414)
Foreign exchange contracts | Revenue
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	0	0
Foreign exchange contracts | Cost of sales
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	1	14
Interest rate swaps
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	(2,586)	7,210
Interest rate swaps | Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	$ 137	$ 137

Fair Value Measurements and _10

Fair Value Measurements and Derivative Instruments (Fair Value of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 2,172,968	$ 2,205,266
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 1,803,375	$ 1,856,878

Restructuring Charges (Activity

Restructuring Charges (Activity In Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring Costs
Amounts charged to expense	$ 3,599	$ 4,184
Cash payments	(4,641)	(3,285)
Severance and other exit costs
Restructuring Costs
Balance Beginning	7,647	5,747
Amounts charged to expense	3,599	4,184
Cash payments	(4,641)	(3,285)
Noncash activity		(172)
Balance Ending	$ 6,605	$ 6,474

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) $ in Millions		3 Months Ended
	May 05, 2023 USD ($) position	Mar. 31, 2023
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, expected payment period		12 months
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, expected payment period		24 months
Subsequent Event | The 2023 Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated | position	400
Restructuring and related cost, expected cost | $	$ 40
Subsequent Event | The 2023 Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated | position	500
Restructuring and related cost, expected cost | $	$ 50

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal amount	$ 2,206,556	$ 2,240,411
Less: unamortized costs, net	33,588	35,145
Total debt	2,172,968	2,205,266
Less: current portion long-term debt	262,439	32,764
Long-term debt	$ 1,910,529	2,172,502
Notes due | Notes due March 2024
Debt Instrument [Line Items]
Interest rate	4.625%
Principal amount	$ 227,083	236,749
Notes due | Term loan due March 2026
Debt Instrument [Line Items]
Interest rate	6.70%
Principal amount	$ 345,500	351,500
Notes due | Term loan due March 2026 | SOFR
Debt Instrument [Line Items]
Interest rate	2%
Notes due | Notes due March 2027
Debt Instrument [Line Items]
Interest rate	6.875%
Principal amount	$ 380,000	396,750
Notes due | Term loan due March 2028
Debt Instrument [Line Items]
Interest rate	8.70%
Principal amount	$ 441,000	442,125
Notes due | Term loan due March 2028 | SOFR
Debt Instrument [Line Items]
Interest rate	4%
Notes due | Notes due March 2029
Debt Instrument [Line Items]
Interest rate	7.25%
Principal amount	$ 350,000	350,000
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
Other debt
Debt Instrument [Line Items]
Principal amount	$ 2,132	$ 2,446

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)		3 Months Ended
	Jan. 01, 2023	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Gain (loss) on debt redemption/refinancing		$ 2,836,000	$ (4,993,000)
Interest rate swaps
Debt Instrument [Line Items]
Derivative notional amount		200,000,000
Fixed interest rate	0.585%
Interest rate swaps | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	0.10%
Line of credit | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000
Outstanding borrowings		0
Notes due 2024 and 2027 | Notes due
Debt Instrument [Line Items]
Purchase amount		26,000,000
Gain (loss) on debt redemption/refinancing		3,000,000
Term Loan due 2026 and Term Loan due 2028 | Notes due
Debt Instrument [Line Items]
Repayments of debt		$ 7,000,000
Term loan due March 2026 | Notes due
Debt Instrument [Line Items]
Interest rate		6.70%
Term loan due March 2026 | Notes due | SOFR
Debt Instrument [Line Items]
Interest rate		2%
Term loan due March 2028 | Notes due
Debt Instrument [Line Items]
Interest rate		8.70%
Term loan due March 2028 | Notes due | SOFR
Debt Instrument [Line Items]
Interest rate		4%

Pensions and Other Benefit Pr_3

Pensions and Other Benefit Programs (Components of Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Pension Plans | United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 10	$ 24
Interest cost	16,089	11,141
Expected return on plan assets	(21,613)	(17,863)
Amortization of prior service (credit) cost	(5)	(11)
Amortization of net actuarial loss (gain)	4,417	8,232
Net periodic benefit (income) cost	(1,102)	1,523
Contributions to benefit plans	1,127	1,138
Defined Benefit Pension Plans | Foreign
Defined Benefit Plan Disclosure [Line Items]
Service cost	194	355
Interest cost	5,222	3,634
Expected return on plan assets	(7,344)	(7,205)
Amortization of prior service (credit) cost	70	68
Amortization of net actuarial loss (gain)	505	1,821
Net periodic benefit (income) cost	(1,353)	(1,327)
Contributions to benefit plans	15,033	8,221
Nonpension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	89	179
Interest cost	1,305	940
Expected return on plan assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net actuarial loss (gain)	(356)	87
Net periodic benefit (income) cost	1,038	1,206
Contributions to benefit plans	$ 3,778	$ 4,158

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Contingency [Line Items]
Effective tax rate (percent)	29.60%	16.80%
Percent decrease in unrecognized benefits, reasonably possible (up to)	15%
Disposed of by Sale | 2019 Sale of Business
Income Tax Contingency [Line Items]
Tax benefit on sale of business		$ 1

Commitments and Contingencies (

Commitments and Contingencies (Details) - Equipment - Digital Commerce Solutions $ in Millions	Mar. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Lease payments	$ 62
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	3 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	7 years

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 60,653	$ 112,632
Net (loss) income	(7,737)	20,821
Other comprehensive income (loss)	15,586	(20,018)
Dividends paid	(8,725)	(8,688)
Issuance of common stock	(3,058)	(2,914)
Stock-based compensation expense	3,245	4,495
Repurchase of common stock		(13,446)
Balances, end of period	$ 59,964	$ 92,882
Dividends paid (in dollars per share)	$ 0.05	$ 0.05
Common stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 323,338	$ 323,338
Balances, end of period	323,338	323,338
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	0	2,485
Issuance of common stock	(3,245)	(6,980)
Stock-based compensation expense	3,245	4,495
Balances, end of period	0	0
Retained earnings
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	5,125,677	5,169,270
Net (loss) income	(7,737)	20,821
Dividends paid	(8,725)	(8,688)
Issuance of common stock	(48,363)	(39,767)
Balances, end of period	5,060,852	5,141,636
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(835,564)	(780,312)
Other comprehensive income (loss)	15,586	(20,018)
Balances, end of period	(819,978)	(800,330)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(4,552,798)	(4,602,149)
Issuance of common stock	48,550	43,833
Repurchase of common stock		(13,446)
Balances, end of period	$ (4,504,248)	$ (4,571,762)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Financing revenue	$ 834,538	$ 926,942
Interest expense, net	(22,342)	(22,124)
Selling, general and administrative expense	(242,120)	(242,785)
(Loss) income before taxes	(10,987)	25,024
Income tax provision (benefit)	(3,250)	4,203
Net of tax	(7,737)	20,821
Reclassification out of Accumulated Other Comprehensive Loss | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	1	14
Interest expense, net	137	137
(Loss) income before taxes	138	151
Income tax provision (benefit)	34	37
Net of tax	104	114
Reclassification out of Accumulated Other Comprehensive Loss | Available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Financing revenue	10	(2)
Selling, general and administrative expense	0	(13)
(Loss) income before taxes	10	(15)
Income tax provision (benefit)	2	(3)
Net of tax	8	(12)
Reclassification out of Accumulated Other Comprehensive Loss | Pension and postretirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
(Loss) income before taxes	(4,631)	(10,197)
Income tax provision (benefit)	(1,142)	(2,461)
Net of tax	(3,489)	(7,736)
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	(65)	(57)
Reclassification out of Accumulated Other Comprehensive Loss | Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit plans	$ (4,566)	$ (10,140)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Changes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	$ 60,653	$ 112,632
Other comprehensive (loss) income before reclassifications	12,209	(27,652)
Reclassifications into earnings	3,377	7,634
Other comprehensive income (loss), net of tax	15,586	(20,018)
Balances, end of period	59,964	92,882
Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	12,503	3,803
Other comprehensive (loss) income before reclassifications	(1,958)	5,447
Reclassifications into earnings	(104)	(114)
Other comprehensive income (loss), net of tax	(2,062)	5,333
Balances, end of period	10,441	9,136
Available for sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(39,440)	(6,249)
Other comprehensive (loss) income before reclassifications	3,280	(15,534)
Reclassifications into earnings	(8)	12
Other comprehensive income (loss), net of tax	3,272	(15,522)
Balances, end of period	(36,168)	(21,771)
Pension and postretirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(716,056)	(756,639)
Other comprehensive (loss) income before reclassifications	0	0
Reclassifications into earnings	3,489	7,736
Other comprehensive income (loss), net of tax	3,489	7,736
Balances, end of period	(712,567)	(748,903)
Foreign currency adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(92,571)	(21,227)
Other comprehensive (loss) income before reclassifications	10,887	(17,565)
Reclassifications into earnings	0	0
Other comprehensive income (loss), net of tax	10,887	(17,565)
Balances, end of period	(81,684)	(38,792)
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(835,564)	(780,312)
Other comprehensive income (loss), net of tax	15,586	(20,018)
Balances, end of period	$ (819,978)	$ (800,330)

Supplemental Financial Statem_3

Supplemental Financial Statement Information (Allowance for Credit on Losses for Accounts and Other Receivables) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 5,864	$ 29,179
Amounts charged to expense	2,523	921
Write-offs, recoveries and other	(2,304)	(19,519)
Balance at end of period	6,083	10,581
Allowance for doubtful accounts	6,083	10,581
Accounts and other receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	6,083	10,061
Allowance for doubtful accounts	6,083	10,061
Other assets
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at end of period	0	520
Allowance for doubtful accounts	$ 0	$ 520

Supplemental Financial Statem_4

Supplemental Financial Statement Information (Other Expense, Net) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
(Gain) loss on debt redemption/refinancing	$ (2,836)	$ 4,993
Gain on sale of assets	0	(14,372)
Gain on sale of businesses, including transaction costs	0	(2,522)
Other income, net	$ (2,836)	$ (11,901)

Supplemental Financial Statem_5

Supplemental Financial Statement Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of assets	$ 0	$ 2,522
Proceeds from sale of businesses	$ 0	$ 9,016
Disposed of by Sale | Prior Year Business Sales
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of assets			$ 9,000
Proceeds from sale of businesses			3,000
Shelton, Connecticut Office Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale leaseback transaction			51,000
Sale and leaseback transaction, gain			$ 14,000

Supplemental Financial Statem_6

Supplemental Financial Statement Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Income and Expenses [Abstract]
Cash interest paid	$ 53,721	$ 49,430
Cash income tax payments, net of refunds	2,781	8,079
Capital assets obtained under capital lease obligations	$ 721	$ 8,721