Pitney Bowes (PBI) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		178,875,218
Entity Central Index Key	0000078814
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
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, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 830,509	$ 834,538
Costs and expenses:
Selling, general and administrative	216,197	242,120
Research and development	9,481	10,493
Restructuring charges	4,315	3,599
Interest expense, net	27,766	22,342
Other components of net pension and postretirement income	(387)	(1,710)
Other income	0	(2,836)
Total costs and expenses	820,835	845,525
Income (loss) before taxes	9,674	(10,987)
Provision (benefit) for income taxes	12,559	(3,250)
Net loss	$ (2,885)	$ (7,737)
Basic net loss per share (in dollars per share)	$ (0.02)	$ (0.04)
Diluted net loss per share (in dollars per share)	$ (0.02)	$ (0.04)
Business services
Revenue:
Total revenue	$ 535,597	$ 523,491
Costs and expenses:
Cost of products and sales	446,367	446,317
Support services
Revenue:
Total revenue	96,333	105,284
Costs and expenses:
Cost of products and sales	33,055	36,840
Financing
Revenue:
Total revenue	67,663	67,049
Costs and expenses:
Financing interest expense	16,603	14,536
Equipment sales
Revenue:
Total revenue	77,403	82,610
Costs and expenses:
Cost of products and sales	52,559	57,171
Supplies
Revenue:
Total revenue	36,721	38,835
Costs and expenses:
Cost of products and sales	10,195	11,225
Rentals
Revenue:
Total revenue	16,792	17,269
Costs and expenses:
Cost of products and sales	$ 4,684	$ 5,428

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,885)	$ (7,737)
Other comprehensive (loss) income, net of tax:
Foreign currency translation, net of tax of $(496) and $174, respectively	(15,399)	10,887
Net unrealized loss on cash flow hedges, net of tax of $(414) and $(687), respectively	(1,241)	(2,062)
Net unrealized (loss) gain on investment securities, net of tax of $(303) and $1,028, respectively	(967)	3,272
Amortization of pension and postretirement costs, net of tax of $1,628 and $1,142, respectively	5,041	3,489
Other comprehensive (loss) income, net of tax	(12,566)	15,586
Comprehensive (loss) income	$ (15,451)	$ 7,849

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ (496)	$ 174
Net unrealized loss on cash flow hedges, tax	(414)	(687)
Net unrealized (loss) gain on investment securities, tax	(303)	1,028
Amortization of pension and postretirement costs, tax	$ 1,628	$ 1,142

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 516,092	$ 601,053
Short-term investments (includes $1,858 and $2,382, respectively, reported at fair value)	21,859	22,166
Accounts and other receivables (net of allowance of $8,948 and $6,139, respectively)	307,201	342,236
Short-term finance receivables (net of allowance of $13,536 and $14,347, respectively)	547,235	563,536
Inventories	78,683	70,053
Current income taxes	987	564
Other current assets and prepayments	110,041	92,309
Total current assets	1,582,098	1,691,917
Property, plant and equipment, net	370,110	383,628
Rental property and equipment, net	22,580	23,583
Long-term finance receivables (net of allowance of $8,432 and $8,880 respectively)	638,380	653,085
Goodwill	729,291	734,409
Intangible assets, net	58,277	62,250
Operating lease assets	304,939	309,958
Noncurrent income taxes	58,884	60,995
Other assets (includes $217,746 and $227,131, respectively, reported at fair value)	338,488	352,360
Total assets	4,103,047	4,272,185
Current liabilities:
Accounts payable and accrued liabilities	784,020	875,476
Customer deposits at Pitney Bowes Bank	599,976	640,323
Current operating lease liabilities	60,087	60,069
Current portion of long-term debt	58,111	58,931
Advance billings	89,014	89,087
Current income taxes	34,212	6,523
Total current liabilities	1,625,420	1,730,409
Long-term debt	2,076,054	2,087,101
Deferred taxes on income	199,769	211,477
Tax uncertainties and other income tax liabilities	19,054	19,091
Noncurrent operating lease liabilities	272,024	277,981
Other noncurrent liabilities	303,081	314,702
Total liabilities	4,495,402	4,640,761
Commitments and contingencies (See Note 13)
Stockholders’ deficit:
Common stock, $1 par value (480,000 shares authorized; 270,338 shares issued)	270,338	270,338
Retained earnings	3,027,030	3,077,988
Accumulated other comprehensive loss	(863,811)	(851,245)
Treasury stock, at cost (92,669 and 93,972 shares, respectively)	(2,825,912)	(2,865,657)
Total stockholders’ deficit	(392,355)	(368,576)
Total liabilities and stockholders’ deficit	$ 4,103,047	$ 4,272,185

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Short-term investments, fair value	$ 1,858	$ 2,382
Accounts and other receivables, allowance	8,948	6,139
Short-term finance receivables, allowance	13,536	14,347
Long-term finance receivables, allowance	8,432	8,880
Other assets, fair value	$ 217,746	$ 227,131
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	480,000	480,000
Common stock, issued (in shares)	270,338	270,338
Treasury stock (in shares)	92,669	93,972

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (2,885)	$ (7,737)
Adjustments to reconcile net income or loss to net cash from operating activities:
Depreciation and amortization	40,879	39,897
Allowance for credit losses	4,665	4,308
Stock-based compensation	2,390	3,245
Amortization of debt fees	3,068	2,118
Gain on debt redemption	0	(2,836)
Restructuring charges	4,315	3,599
Restructuring payments	(14,989)	(4,641)
Pension contributions and retiree medical payments	(11,767)	(19,938)
Other, net	(1,548)	4,172
Changes in operating assets and liabilities, net of acquisitions/divestitures:
Accounts and other receivables	30,053	69,841
Finance receivables	27,716	15,596
Inventories	(9,005)	(10,226)
Other current assets and prepayments	(19,471)	(8,380)
Accounts payable and accrued liabilities	(83,398)	(103,990)
Current and noncurrent income taxes	16,897	(6,070)
Advance billings	555	(18,672)
Net cash from operating activities	(12,525)	(39,714)
Cash flows from investing activities:
Capital expenditures	(19,957)	(28,666)
Purchases of investment securities	(14,197)	(5,180)
Proceeds from sales/maturities of investment securities	23,624	5,976
Net investment in loan receivables	(2,115)	(12,879)
Other investing activities, net	804	(664)
Net cash from investing activities	(11,841)	(41,413)
Cash flows from financing activities:
Principal payments of debt	(14,132)	(31,018)
Dividends paid to stockholders	(8,832)	(8,725)
Customer deposits at Pitney Bowes Bank	(29,347)	(33,526)
Other financing activities, net	(6,122)	(6,173)
Net cash from financing activities	(58,433)	(79,442)
Effect of exchange rate changes on cash and cash equivalents	(2,162)	2,349
Change in cash and cash equivalents	(84,961)	(158,220)
Cash and cash equivalents at beginning of period	601,053	669,981
Cash and cash equivalents at end of period	$ 516,092	$ 511,761

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
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, 2023 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, 2024. 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, 2023 (2023 Annual Report). During the three months ended March 31, 2024, the Company identified an error and recorded an out of period adjustment of $5 million to correct the understatement of revenue in prior periods, of which $4 million originated in 2020 and prior. The impact of the adjustment is not material to the consolidated financial statements for any prior interim or annual periods and is not expected to be material to the 2024 annual period. Accounting Pronouncements Adopted in 2024 Effective January 1, 2024, we adopted ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The transition to new reference interest rates required certain contracts to be modified. The adoption of this standard did not have an impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires additional transparency for income tax disclosures, including the rate reconciliation table and cash taxes paid. This standard is effective for annual periods beginning after December 15, 2024. We are currently assessing the impact this standard will have on our disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires enhanced disclosures about significant segment expenses and information used to assess segment performance. This standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently assessing the impact this standard will have on our disclosures.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
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, 2024 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 $ 333,265 $ 169,807 $ 32,525 $ 535,597 $ — $ 535,597 Support services — — 96,333 96,333 — 96,333 Financing — — — — 67,663 67,663 Equipment sales — — 24,732 24,732 52,671 77,403 Supplies — — 36,721 36,721 — 36,721 Rentals — — — — 16,792 16,792 Subtotal 333,265 169,807 190,311 693,383 $ 137,126 $ 830,509 Revenue from leasing transactions and financing — — 137,126 137,126 Total revenue $ 333,265 $ 169,807 $ 327,437 $ 830,509 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 76,465 $ 76,465 Products/services transferred over time 333,265 169,807 113,846 616,918 Total $ 333,265 $ 169,807 $ 190,311 $ 693,383 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 $ 340,641 $ 158,902 $ 23,948 $ 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 340,641 158,902 188,062 687,605 $ 146,933 $ 834,538 Revenue from leasing transactions and financing — — 146,933 146,933 Total revenue $ 340,641 $ 158,902 $ 334,995 $ 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 340,641 158,902 110,998 610,541 Total $ 340,641 $ 158,902 $ 188,062 $ 687,605 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. Revenues for fulfillment, delivery and return services, cross-border solutions, and mail processing services are 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 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 the sale of 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 (the Bank). Advance Billings from Contracts with Customers Balance sheet location March 31, 2024 December 31, 2023 Increase/ (decrease) Advance billings, current Advance billings $ 80,801 $ 82,124 $ (1,323) Advance billings, noncurrent Other noncurrent liabilities $ 502 $ 507 $ (5) 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 $48 million of advance billings at the beginning of the period. Current advance billings shown above at March 31, 2024 and December 31, 2023 does not include $8 million and $7 million, respectively, from leasing transactions. Future Performance Obligations Future performance obligations primarily include maintenance and subscription services bundled with our leasing contracts. The transaction prices allocated to future performance obligations will be recognized as follows: Remainder of 2024 2025 2026-2029 Total SendTech Solutions $ 182,639 $ 208,922 $ 298,162 $ 689,723 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, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Effective January 1, 2024, we moved the digital delivery services offering from the Global Ecommerce segment to the SendTech Solutions segment in order to leverage our technology and innovation capabilities to better serve our clients. Prior periods have been recast to conform to our current segment presentation. 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 consumer logistics services for domestic and cross-border delivery, returns and fulfillment. Presort Services : Includes revenue and related expenses from sortation services that qualify large volumes of First Class Mail, Marketing Mail and Marketing Mail Flats and Bound Printed Matter for postal worksharing discounts. SendTech Solutions: Includes the revenue and related expenses from physical and digital mailing and shipping technology solutions, financing, services, supplies and other applications to help simplify and save on the sending, tracking and receiving of letters, parcels and flats. Management measures segment profitability and performance using 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, general corporate expenses, restructuring charges, goodwill impairment charges and other items not allocated to a particular business segment. 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 income or loss. Revenue Three Months Ended March 31, 2024 2023 Global Ecommerce $ 333,265 $ 340,641 Presort Services 169,807 158,902 SendTech Solutions 327,437 334,995 Total revenue $ 830,509 $ 834,538 Adjusted Segment EBIT Three Months Ended March 31, 2024 2023 Global Ecommerce $ (35,427) $ (33,172) Presort Services 40,329 26,905 SendTech Solutions 101,278 95,637 Total adjusted segment EBIT 106,180 89,370 Reconciliation of adjusted segment EBIT to net income or loss: Interest expense, net (44,369) (36,878) Unallocated corporate expenses (49,770) (56,349) Restructuring charges (4,315) (3,599) Proxy solicitation fees — (6,367) Gain on debt redemption — 2,836 Foreign currency gain on intercompany loans 4,638 — Transaction costs (2,690) — (Provision) benefit for income taxes (12,559) 3,250 Net loss $ (2,885) $ (7,737)

Earnings per Share (EPS)

Earnings per Share (EPS)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings per Share (EPS)	Earnings per Share (EPS) The calculation of basic and diluted earnings per share is presented below. The sum of the earnings per share amounts may not equal the totals due to rounding. Three Months Ended March 31, 2024 2023 Numerator: Net loss $ (2,885) $ (7,737) Denominator: Weighted-average shares used in basic EPS 176,997 174,626 Dilutive effect of common stock equivalents (1) — — Weighted-average shares used in diluted EPS 176,997 174,626 Basic net loss per share $ (0.02) $ (0.04) Diluted net loss per share $ (0.02) $ (0.04) Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive: 7,063 8,148 (1)

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
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 $ 26,930 $ 21,201 Supplies and service parts 26,940 25,522 Finished products 24,813 23,330 Total inventories $ 78,683 $ 70,053

Finance Assets and Lessor Opera

Finance Assets and Lessor Operating Leases	3 Months Ended
	Mar. 31, 2024
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 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, 2024 December 31, 2023 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 981,126 $ 130,139 $ 1,111,265 $ 987,743 $ 143,466 $ 1,131,209 Unguaranteed residual values 37,798 6,803 44,601 38,059 7,211 45,270 Unearned income (255,945) (40,847) (296,792) (253,711) (42,847) (296,558) Allowance for credit losses (13,213) (2,479) (15,692) (13,942) (2,786) (16,728) Net investment in sales-type lease receivables 749,766 93,616 843,382 758,149 105,044 863,193 Loan receivables Loan receivables 330,526 17,983 348,509 342,062 17,865 359,927 Allowance for credit losses (6,124) (152) (6,276) (6,346) (153) (6,499) Net investment in loan receivables 324,402 17,831 342,233 335,716 17,712 353,428 Net investment in finance receivables $ 1,074,168 $ 111,447 $ 1,185,615 $ 1,093,865 $ 122,756 $ 1,216,621 Maturities of gross finance receivables at March 31, 2024 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remainder 2024 $ 276,844 $ 47,624 $ 324,468 $ 212,740 $ 17,983 $ 230,723 2025 301,413 38,259 339,672 39,781 — 39,781 2026 215,733 24,302 240,035 31,234 — 31,234 2027 129,174 13,435 142,609 24,551 — 24,551 2028 53,162 5,333 58,495 15,644 — 15,644 Thereafter 4,800 1,186 5,986 6,576 — 6,576 Total $ 981,126 $ 130,139 $ 1,111,265 $ 330,526 $ 17,983 $ 348,509 Aging of Receivables The aging of gross finance receivables was as follows: March 31, 2024 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 970,612 $ 128,802 $ 327,806 $ 17,731 $ 1,444,951 Past due amounts > 90 days 10,514 1,337 2,720 252 14,823 Total $ 981,126 $ 130,139 $ 330,526 $ 17,983 $ 1,459,774 December 31, 2023 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 977,744 $ 140,857 $ 339,789 $ 17,664 $ 1,476,054 Past due amounts > 90 days 9,999 2,609 2,273 201 15,082 Total $ 987,743 $ 143,466 $ 342,062 $ 17,865 $ 1,491,136 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 establish credit approval limits based on the client's credit quality and the type of equipment financed. We cease financing revenue recognition for lease receivables and 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, 2024 $ 13,942 $ 2,786 $ 6,346 $ 153 $ 23,227 Amounts charged to expense 62 (123) 631 70 640 Write-offs (1,178) (156) (1,260) (67) (2,661) Recoveries 398 113 408 — 919 Other (11) (141) (1) (4) (157) Balance at March 31, 2024 $ 13,213 $ 2,479 $ 6,124 $ 152 $ 21,968 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 The table below shows write-offs of gross finance receivables by year of origination. March 31, 2024 Sales Type Lease Receivables Loan Receivables Total 2024 2023 2022 2021 2020 Prior Write-offs $ 21 $ 193 $ 566 $ 249 $ 172 $ 133 $ 1,327 $ 2,661 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 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 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 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. 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, 2024 Sales Type Lease Receivables Loan Receivables Total 2024 2023 2022 2021 2020 Prior Low $ 54,204 $ 250,379 $ 208,036 $ 140,263 $ 88,707 $ 64,848 $ 250,820 $ 1,057,257 Medium 9,721 44,388 33,492 22,228 13,821 16,441 66,167 206,258 High 791 4,261 3,955 2,347 1,422 979 6,772 20,527 Not Scored 31,761 49,096 34,169 22,514 9,203 4,239 24,750 175,732 Total $ 96,477 $ 348,124 $ 279,652 $ 187,352 $ 113,153 $ 86,507 $ 348,509 $ 1,459,774 December 31, 2023 Sales Type Lease Receivables Loan Receivables Total 2023 2022 2021 2020 2019 Prior Low $ 261,583 $ 222,947 $ 155,193 $ 96,986 $ 46,635 $ 27,164 $ 264,232 $ 1,074,740 Medium 46,208 35,891 24,483 16,027 10,503 8,041 62,910 204,063 High 4,455 4,217 2,554 1,853 740 862 7,487 22,168 Not Scored 59,335 49,839 33,494 15,944 5,089 1,166 25,298 190,165 Total $ 371,581 $ 312,894 $ 215,724 $ 130,810 $ 62,967 $ 37,233 $ 359,927 $ 1,491,136 Lease Income Lease income from sales-type leases, excluding variable lease payments, was as follows: Three Months Ended March 31, 2024 2023 Profit recognized at commencement $ 26,977 $ 31,822 Interest income 37,968 38,931 Total lease income from sales-type leases $ 64,945 $ 70,753 Lessor Operating Leases We also lease mailing equipment under operating leases with terms of one Remainder 2024 $ 13,687 2025 18,505 2026 20,622 2027 5,653 2028 951 Thereafter 1,706 Total $ 61,124

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Intangible assets consisted of the following: March 31, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 155,710 $ (99,213) $ 56,497 $ 155,712 $ (95,409) $ 60,303 Software & technology 2,980 (1,200) 1,780 3,047 (1,100) 1,947 Total intangible assets $ 158,690 $ (100,413) $ 58,277 $ 158,759 $ (96,509) $ 62,250 Amortization expense for both the three months ended March 31, 2024 and 2023 was $4 million. Future amortization expense as of March 31, 2024 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 2024 $ 11,790 2025 15,516 2026 14,527 2027 11,472 2028 2,438 Thereafter 2,534 Total $ 58,277 Goodwill Changes in the carrying value of goodwill by reporting segment are shown in the table below. December 31, 2023 Currency impact March 31, Presort Services $ 223,763 $ — $ 223,763 SendTech Solutions 510,646 (5,118) 505,528 Total goodwill $ 734,409 $ (5,118) $ 729,291

Fair Value Measurements and Der

Fair Value Measurements and Derivative Instruments	3 Months Ended
	Mar. 31, 2024
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, 2024 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 16,315 $ 126,701 $ — $ 143,016 Equity securities — 16,125 — 16,125 Commingled fixed income securities 1,575 5,737 — 7,312 Government and related securities 7,491 18,672 — 26,163 Corporate debt securities — 52,163 — 52,163 Mortgage-backed / asset-backed securities — 115,057 — 115,057 Derivatives Interest rate swap — 6,908 — 6,908 Total assets $ 25,381 $ 341,363 $ — $ 366,744 December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 13,366 $ 188,484 $ — $ 201,850 Equity securities — 15,341 — 15,341 Commingled fixed income securities 1,581 5,741 — 7,322 Government and related securities 11,489 18,999 — 30,488 Corporate debt securities — 54,330 — 54,330 Mortgage-backed / asset-backed securities — 119,901 — 119,901 Derivatives Interest rate swap — 8,425 — 8,425 Total assets $ 26,436 $ 411,221 $ — $ 437,657 Investment Securities The valuation of investment securities is based on a 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 • 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 recorded in accumulated other comprehensive loss (AOCL), and changes in fair value due to credit conditions recorded in earnings. There were no unrealized losses charged to earnings in the three months ended March 31, 2024. Available-for-sale securities consisted of the following: March 31, 2024 Amortized cost Gross unrealized losses Estimated fair value Government and related securities $ 30,636 $ (6,873) $ 23,763 Corporate debt securities 63,126 (10,963) 52,163 Commingled fixed income securities 1,799 (224) 1,575 Mortgage-backed / asset-backed securities 142,291 (27,234) 115,057 Total $ 237,852 $ (45,294) $ 192,558 December 31, 2023 Amortized cost Gross unrealized losses Estimated fair value Government and related securities $ 35,048 $ (7,018) $ 28,030 Corporate debt securities 65,008 (10,678) 54,330 Commingled fixed income securities 1,788 (207) 1,581 Mortgage-backed / asset-backed securities 146,022 (26,121) 119,901 Total $ 247,866 $ (44,024) $ 203,842 Investment securities in a loss position were as follows: March 31, 2024 December 31, 2023 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Greater than 12 continuous months Government and related securities $ 23,763 $ 6,873 $ 28,030 $ 7,018 Corporate debt securities 51,879 10,961 51,948 10,466 Mortgage-backed / asset-backed securities 115,057 27,234 119,901 26,121 Total $ 190,699 $ 45,068 $ 199,879 $ 43,605 Less than 12 continuous months Corporate debt securities $ 284 $ 2 $ 2,382 $ 212 Commingled fixed income securities 1,575 224 1,581 207 Total $ 1,859 $ 226 $ 3,963 $ 419 At March 31, 2024, all securities in the investment portfolio were in an unrealized 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, 2024 were as follows: Amortized cost Estimated fair value Within 1 year $ 2,084 $ 1,858 After 1 year through 5 years 8,256 7,760 After 5 years through 10 years 70,395 59,563 After 10 years 157,117 123,377 Total $ 237,852 $ 192,558 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, 2024 and December 31, 2023 totaled $225 million and $265 million, respectively. Held-to-maturity securities include certificates of deposits with maturities less than 90 days and highly-liquid government securities with maturities less than two years. Derivative Instruments We are exposed to the impact of changes in interest rates and foreign currency exchange rates. We may use derivative instruments to limit the effects on our financial results from changes in interest rates and currency exchange rates. We do not use derivatives for trading or speculative purposes. Interest Rate Swaps At March 31, 2024, we had outstanding interest rate swap agreements that effectively convert $200 million of variable rate debt to fixed rates. 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. These swaps are designated as cash flow hedges and are recorded at fair value at the end of each reporting period. Changes in fair value are reflected in AOCL. The impact of these interest rate swaps was as follows: Three Months Ended March 31, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2024 2023 2024 2023 Interest rate swap $ (1,517) $ (2,586) Interest expense $ 2,591 $ 137 Foreign Exchange Contracts During the quarter ended March 31, 2024, we did not enter into any foreign currency exchange contracts. In the first quarter of 2023, we had outstanding foreign exchange contracts to mitigate the currency risk associated with anticipated inventory purchases between affiliates and from third parties. The impact of these derivative contracts on our financial results was not material. In the first quarter of 2023, we also had outstanding foreign exchange contracts to minimize the impact on earnings from the revaluation of short-term interest-bearing intercompany loans denominated in a foreign currency. These foreign exchange contracts were not designated as hedging instruments and the revaluation of intercompany loans and the change in fair value of these derivatives were recorded in earnings. The mark-to-market adjustment on these foreign exchange contracts for the three months ended March 31, 2023, was a gain of $2 million and significantly offset the corresponding loss on the revaluation of intercompany loans. 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, 2024 December 31, 2023 Carrying value $ 2,134,165 $ 2,146,032 Fair value $ 1,929,648 $ 1,893,620

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges In May 2023, we approved a worldwide restructuring plan (the 2023 Plan) designed to improve profitability and cash flow. This will be achieved through the elimination of 850-950 positions worldwide in part through further centralization and standardization of processes, including the expansion of our shared services activities, increased automation, and the consolidation or closure of select facilities in North America. Total charges are expected to be $60-$70 million and we expect to substantially complete these actions by the end of the first half of 2024. Total charges under the 2023 Plan to date are $62 million. Activity in our restructuring reserves was as follows: 2023 Plan Prior Plan Total Balance at January 1, 2024 $ 26,128 $ — $ 26,128 Amounts charged to expense 4,315 — 4,315 Cash payments (14,989) — (14,989) Noncash activity (875) — (875) Balance at March 31, 2024 $ 14,579 $ — $ 14,579 Balance at January 1, 2023 $ — $ 7,647 $ 7,647 Amounts charged to expense — 3,599 3,599 Cash payments — (4,641) (4,641) Balance at March 31, 2023 $ — $ 6,605 $ 6,605 Components of restructuring expense were as follows: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Severance $ 3,378 $ 3,057 Facilities and other 937 542 Total $ 4,315 $ 3,599

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Total debt consisted of the following: Interest rate March 31, 2024 December 31, 2023 Term loan due March 2026 SOFR + 2.25% $ 273,500 $ 285,500 Notes due March 2027 6.875% 380,000 380,000 Notes due March 2028 SOFR + 6.9% 273,625 274,313 Term loan due March 2028 SOFR + 4.0% 436,500 437,625 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 861 1,181 Principal amount 2,175,327 2,189,460 Less: unamortized costs, net 41,162 43,428 Total debt 2,134,165 2,146,032 Less: current portion long-term debt 58,111 58,931 Long-term debt $ 2,076,054 $ 2,087,101 At March 31, 2024, the interest rate on the 2026 Term Loan was 7.7%, the interest rate on the 2028 Term Loan was 9.4% and the interest rate on the March 2028 notes was 12.2%.

Pensions and Other Benefit Prog

Pensions and Other Benefit Programs	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 2024 2023 2024 2023 Service cost $ 12 $ 10 $ 188 $ 194 $ 92 $ 89 Interest cost 14,966 16,089 5,201 5,222 1,136 1,305 Expected return on plan assets (21,909) (21,613) (6,450) (7,344) — — Amortization of prior service (credit) cost (5) (5) 74 70 — — Amortization of net actuarial loss (gain) 4,972 4,417 1,923 505 (295) (356) Net periodic benefit (income) cost $ (1,964) $ (1,102) $ 936 $ (1,353) $ 933 $ 1,038 Contributions to benefit plans $ 1,069 $ 1,127 $ 6,998 $ 15,033 $ 3,700 $ 3,778

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three months ended March 31, 2024 was 129.8% compared to 29.6% for the prior year period. The effective tax rate for interim periods is determined using an annual effective tax rate, adjusted for discrete items. The forecasted annual income earned in foreign jurisdictions offset by U.S. losses will result in minimal consolidated pre-tax income. Accordingly, unfavorable tax adjustments related to the U.S. taxation of our foreign operations and state valuation allowance adjustments has resulted in a high quarterly and annual effective tax rate. On a regular basis, we conclude tax return examinations, statutes of limitation expire, and court decisions interpret tax law. We regularly assess tax uncertainties in light of these developments; and as a result, it is reasonably possible that the amount of unrecognized tax benefits will decrease in the next 12 months, and this decrease could be up to 10% of our unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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.

Stockholders_ Deficit

Stockholders’ Deficit	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Stockholders’ Deficit	Stockholders’ Deficit Changes in stockholders’ deficit were as follows: Common stock Retained earnings Accumulated other comprehensive loss Treasury stock Total deficit Balance at January 1, 2024 $ 270,338 $ 3,077,988 $ (851,245) $ (2,865,657) $ (368,576) Net loss — (2,885) — — (2,885) Other comprehensive loss — — (12,566) — (12,566) Dividends paid ($0.05 per common share) — (8,832) — — (8,832) Issuance of common stock — (41,631) — 39,745 (1,886) Stock-based compensation expense — 2,390 — — 2,390 Balance at March 31, 2024 $ 270,338 $ 3,027,030 $ (863,811) $ (2,825,912) $ (392,355) Common stock Retained earnings Accumulated other comprehensive loss Treasury stock Total deficit 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 — (51,608) — 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

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 Cash flow hedges Cost of sales $ — $ 1 Interest expense, net 2,591 137 Total before tax 2,591 138 Income tax provision 648 34 Net of tax $ 1,943 $ 104 Available-for-sale securities Financing revenue $ (648) $ 10 Income tax (benefit) provision (162) 2 Net of tax $ (486) $ 8 Pension and postretirement benefit plans Prior service costs $ (69) $ (65) Actuarial losses (6,600) (4,566) Total before tax (6,669) (4,631) Income tax benefit (1,628) (1,142) Net of tax $ (5,041) $ (3,489) 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, 2024 $ 6,962 $ (33,463) $ (757,452) $ (67,292) $ (851,245) Other comprehensive income (loss) before reclassifications 702 (1,453) — (15,399) (16,150) Reclassifications into earnings (1,943) 486 5,041 — 3,584 Net other comprehensive (loss) income (1,241) (967) 5,041 (15,399) (12,566) Balance at March 31, 2024 $ 5,721 $ (34,430) $ (752,411) $ (82,691) $ (863,811) 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)

Supplemental Financial Statemen

Supplemental Financial Statement Information	3 Months Ended
	Mar. 31, 2024
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 is presented below. See Note 6 for information regarding the allowance for credit losses on finance receivables. Three Months Ended March 31, 2024 2023 Balance at beginning of year $ 6,139 $ 5,864 Amounts charged to expense 4,025 2,523 Write-offs, recoveries and other (1,216) (2,304) Balance at end of period $ 8,948 $ 6,083 Supplemental cash flow information is as follows: Three Months Ended March 31, 2024 2023 Cash interest paid $ 56,013 $ 53,721 Cash income tax (refunds) payments, net $ (4,352) $ 2,781 Noncash activity Capital assets obtained under capital lease obligations $ 6,316 $ 721 Other, net within cash flows from operating activities includes $3 million of losses from the disposal of fixed assets for both the three months ended March 31, 2024 and 2023. three

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
Accounting Pronouncements Adopted in 2024 and Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Adopted in 2024 Effective January 1, 2024, we adopted ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The transition to new reference interest rates required certain contracts to be modified. The adoption of this standard did not have an impact on our consolidated financial statements. Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires additional transparency for income tax disclosures, including the rate reconciliation table and cash taxes paid. This standard is effective for annual periods beginning after December 15, 2024. We are currently assessing the impact this standard will have on our disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires enhanced disclosures about significant segment expenses and information used to assess segment performance. This standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently assessing the impact this standard will have on our disclosures.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 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 $ 333,265 $ 169,807 $ 32,525 $ 535,597 $ — $ 535,597 Support services — — 96,333 96,333 — 96,333 Financing — — — — 67,663 67,663 Equipment sales — — 24,732 24,732 52,671 77,403 Supplies — — 36,721 36,721 — 36,721 Rentals — — — — 16,792 16,792 Subtotal 333,265 169,807 190,311 693,383 $ 137,126 $ 830,509 Revenue from leasing transactions and financing — — 137,126 137,126 Total revenue $ 333,265 $ 169,807 $ 327,437 $ 830,509 Timing of revenue recognition from products and services Products/services transferred at a point in time $ — $ — $ 76,465 $ 76,465 Products/services transferred over time 333,265 169,807 113,846 616,918 Total $ 333,265 $ 169,807 $ 190,311 $ 693,383 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 $ 340,641 $ 158,902 $ 23,948 $ 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 340,641 158,902 188,062 687,605 $ 146,933 $ 834,538 Revenue from leasing transactions and financing — — 146,933 146,933 Total revenue $ 340,641 $ 158,902 $ 334,995 $ 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 340,641 158,902 110,998 610,541 Total $ 340,641 $ 158,902 $ 188,062 $ 687,605
Schedule of Contract Assets and Advance Billings	Advance Billings from Contracts with Customers Balance sheet location March 31, 2024 December 31, 2023 Increase/ (decrease) Advance billings, current Advance billings $ 80,801 $ 82,124 $ (1,323) Advance billings, noncurrent Other noncurrent liabilities $ 502 $ 507 $ (5)
Schedule of Future Performance Obligations	The transaction prices allocated to future performance obligations will be recognized as follows: Remainder of 2024 2025 2026-2029 Total SendTech Solutions $ 182,639 $ 208,922 $ 298,162 $ 689,723

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
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 income or loss. Revenue Three Months Ended March 31, 2024 2023 Global Ecommerce $ 333,265 $ 340,641 Presort Services 169,807 158,902 SendTech Solutions 327,437 334,995 Total revenue $ 830,509 $ 834,538
Schedule of Reconciliation of EBIT From Segments to Consolidated Statements	Adjusted Segment EBIT Three Months Ended March 31, 2024 2023 Global Ecommerce $ (35,427) $ (33,172) Presort Services 40,329 26,905 SendTech Solutions 101,278 95,637 Total adjusted segment EBIT 106,180 89,370 Reconciliation of adjusted segment EBIT to net income or loss: Interest expense, net (44,369) (36,878) Unallocated corporate expenses (49,770) (56,349) Restructuring charges (4,315) (3,599) Proxy solicitation fees — (6,367) Gain on debt redemption — 2,836 Foreign currency gain on intercompany loans 4,638 — Transaction costs (2,690) — (Provision) benefit for income taxes (12,559) 3,250 Net loss $ (2,885) $ (7,737)

Earnings per Share (EPS) (Table

Earnings per Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The calculation of basic and diluted earnings per share is presented below. The sum of the earnings per share amounts may not equal the totals due to rounding. Three Months Ended March 31, 2024 2023 Numerator: Net loss $ (2,885) $ (7,737) Denominator: Weighted-average shares used in basic EPS 176,997 174,626 Dilutive effect of common stock equivalents (1) — — Weighted-average shares used in diluted EPS 176,997 174,626 Basic net loss per share $ (0.02) $ (0.04) Diluted net loss per share $ (0.02) $ (0.04) Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive: 7,063 8,148 (1)

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory Components	Inventories consisted of the following: March 31, December 31, Raw materials $ 26,930 $ 21,201 Supplies and service parts 26,940 25,522 Finished products 24,813 23,330 Total inventories $ 78,683 $ 70,053

Finance Assets and Lessor Ope_2

Finance Assets and Lessor Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Financing Receivables	Finance receivables consisted of the following: March 31, 2024 December 31, 2023 North America International Total North America International Total Sales-type lease receivables Gross finance receivables $ 981,126 $ 130,139 $ 1,111,265 $ 987,743 $ 143,466 $ 1,131,209 Unguaranteed residual values 37,798 6,803 44,601 38,059 7,211 45,270 Unearned income (255,945) (40,847) (296,792) (253,711) (42,847) (296,558) Allowance for credit losses (13,213) (2,479) (15,692) (13,942) (2,786) (16,728) Net investment in sales-type lease receivables 749,766 93,616 843,382 758,149 105,044 863,193 Loan receivables Loan receivables 330,526 17,983 348,509 342,062 17,865 359,927 Allowance for credit losses (6,124) (152) (6,276) (6,346) (153) (6,499) Net investment in loan receivables 324,402 17,831 342,233 335,716 17,712 353,428 Net investment in finance receivables $ 1,074,168 $ 111,447 $ 1,185,615 $ 1,093,865 $ 122,756 $ 1,216,621
Schedule of Sales-type Lease Maturity	Maturities of gross finance receivables at March 31, 2024 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remainder 2024 $ 276,844 $ 47,624 $ 324,468 $ 212,740 $ 17,983 $ 230,723 2025 301,413 38,259 339,672 39,781 — 39,781 2026 215,733 24,302 240,035 31,234 — 31,234 2027 129,174 13,435 142,609 24,551 — 24,551 2028 53,162 5,333 58,495 15,644 — 15,644 Thereafter 4,800 1,186 5,986 6,576 — 6,576 Total $ 981,126 $ 130,139 $ 1,111,265 $ 330,526 $ 17,983 $ 348,509
Schedule of Loan Receivable Maturity	Maturities of gross finance receivables at March 31, 2024 were as follows: Sales-type Lease Receivables Loan Receivables North America International Total North America International Total Remainder 2024 $ 276,844 $ 47,624 $ 324,468 $ 212,740 $ 17,983 $ 230,723 2025 301,413 38,259 339,672 39,781 — 39,781 2026 215,733 24,302 240,035 31,234 — 31,234 2027 129,174 13,435 142,609 24,551 — 24,551 2028 53,162 5,333 58,495 15,644 — 15,644 Thereafter 4,800 1,186 5,986 6,576 — 6,576 Total $ 981,126 $ 130,139 $ 1,111,265 $ 330,526 $ 17,983 $ 348,509
Schedule of Past Due Financing Receivables	The aging of gross finance receivables was as follows: March 31, 2024 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 970,612 $ 128,802 $ 327,806 $ 17,731 $ 1,444,951 Past due amounts > 90 days 10,514 1,337 2,720 252 14,823 Total $ 981,126 $ 130,139 $ 330,526 $ 17,983 $ 1,459,774 December 31, 2023 Sales-type Lease Receivables Loan Receivables North International North International Total Past due amounts 0 - 90 days $ 977,744 $ 140,857 $ 339,789 $ 17,664 $ 1,476,054 Past due amounts > 90 days 9,999 2,609 2,273 201 15,082 Total $ 987,743 $ 143,466 $ 342,062 $ 17,865 $ 1,491,136
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, 2024 $ 13,942 $ 2,786 $ 6,346 $ 153 $ 23,227 Amounts charged to expense 62 (123) 631 70 640 Write-offs (1,178) (156) (1,260) (67) (2,661) Recoveries 398 113 408 — 919 Other (11) (141) (1) (4) (157) Balance at March 31, 2024 $ 13,213 $ 2,479 $ 6,124 $ 152 $ 21,968 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 The table below shows write-offs of gross finance receivables by year of origination. March 31, 2024 Sales Type Lease Receivables Loan Receivables Total 2024 2023 2022 2021 2020 Prior Write-offs $ 21 $ 193 $ 566 $ 249 $ 172 $ 133 $ 1,327 $ 2,661 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, 2024 Sales Type Lease Receivables Loan Receivables Total 2024 2023 2022 2021 2020 Prior Low $ 54,204 $ 250,379 $ 208,036 $ 140,263 $ 88,707 $ 64,848 $ 250,820 $ 1,057,257 Medium 9,721 44,388 33,492 22,228 13,821 16,441 66,167 206,258 High 791 4,261 3,955 2,347 1,422 979 6,772 20,527 Not Scored 31,761 49,096 34,169 22,514 9,203 4,239 24,750 175,732 Total $ 96,477 $ 348,124 $ 279,652 $ 187,352 $ 113,153 $ 86,507 $ 348,509 $ 1,459,774 December 31, 2023 Sales Type Lease Receivables Loan Receivables Total 2023 2022 2021 2020 2019 Prior Low $ 261,583 $ 222,947 $ 155,193 $ 96,986 $ 46,635 $ 27,164 $ 264,232 $ 1,074,740 Medium 46,208 35,891 24,483 16,027 10,503 8,041 62,910 204,063 High 4,455 4,217 2,554 1,853 740 862 7,487 22,168 Not Scored 59,335 49,839 33,494 15,944 5,089 1,166 25,298 190,165 Total $ 371,581 $ 312,894 $ 215,724 $ 130,810 $ 62,967 $ 37,233 $ 359,927 $ 1,491,136
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, 2024 2023 Profit recognized at commencement $ 26,977 $ 31,822 Interest income 37,968 38,931 Total lease income from sales-type leases $ 64,945 $ 70,753
Schedule of Lessor, Payments to be Received	Maturities of these operating leases are as follows: Remainder 2024 $ 13,687 2025 18,505 2026 20,622 2027 5,653 2028 951 Thereafter 1,706 Total $ 61,124

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: March 31, 2024 December 31, 2023 Gross Accumulated Net Gross Accumulated Net Customer relationships $ 155,710 $ (99,213) $ 56,497 $ 155,712 $ (95,409) $ 60,303 Software & technology 2,980 (1,200) 1,780 3,047 (1,100) 1,947 Total intangible assets $ 158,690 $ (100,413) $ 58,277 $ 158,759 $ (96,509) $ 62,250
Schedule of Amortization Expense In Future Periods	Future amortization expense as of March 31, 2024 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 2024 $ 11,790 2025 15,516 2026 14,527 2027 11,472 2028 2,438 Thereafter 2,534 Total $ 58,277
Schedule of Goodwill	Changes in the carrying value of goodwill by reporting segment are shown in the table below. December 31, 2023 Currency impact March 31, Presort Services $ 223,763 $ — $ 223,763 SendTech Solutions 510,646 (5,118) 505,528 Total goodwill $ 734,409 $ (5,118) $ 729,291

Fair Value Measurements and D_2

Fair Value Measurements and Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 16,315 $ 126,701 $ — $ 143,016 Equity securities — 16,125 — 16,125 Commingled fixed income securities 1,575 5,737 — 7,312 Government and related securities 7,491 18,672 — 26,163 Corporate debt securities — 52,163 — 52,163 Mortgage-backed / asset-backed securities — 115,057 — 115,057 Derivatives Interest rate swap — 6,908 — 6,908 Total assets $ 25,381 $ 341,363 $ — $ 366,744 December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Investment securities Money market funds $ 13,366 $ 188,484 $ — $ 201,850 Equity securities — 15,341 — 15,341 Commingled fixed income securities 1,581 5,741 — 7,322 Government and related securities 11,489 18,999 — 30,488 Corporate debt securities — 54,330 — 54,330 Mortgage-backed / asset-backed securities — 119,901 — 119,901 Derivatives Interest rate swap — 8,425 — 8,425 Total assets $ 26,436 $ 411,221 $ — $ 437,657
Schedule of Available-for-sale Securities Reconciliation	Available-for-sale securities consisted of the following: March 31, 2024 Amortized cost Gross unrealized losses Estimated fair value Government and related securities $ 30,636 $ (6,873) $ 23,763 Corporate debt securities 63,126 (10,963) 52,163 Commingled fixed income securities 1,799 (224) 1,575 Mortgage-backed / asset-backed securities 142,291 (27,234) 115,057 Total $ 237,852 $ (45,294) $ 192,558 December 31, 2023 Amortized cost Gross unrealized losses Estimated fair value Government and related securities $ 35,048 $ (7,018) $ 28,030 Corporate debt securities 65,008 (10,678) 54,330 Commingled fixed income securities 1,788 (207) 1,581 Mortgage-backed / asset-backed securities 146,022 (26,121) 119,901 Total $ 247,866 $ (44,024) $ 203,842
Schedule of Unrealized Holding Losses	Investment securities in a loss position were as follows: March 31, 2024 December 31, 2023 Fair Value Gross unrealized losses Fair Value Gross unrealized losses Greater than 12 continuous months Government and related securities $ 23,763 $ 6,873 $ 28,030 $ 7,018 Corporate debt securities 51,879 10,961 51,948 10,466 Mortgage-backed / asset-backed securities 115,057 27,234 119,901 26,121 Total $ 190,699 $ 45,068 $ 199,879 $ 43,605 Less than 12 continuous months Corporate debt securities $ 284 $ 2 $ 2,382 $ 212 Commingled fixed income securities 1,575 224 1,581 207 Total $ 1,859 $ 226 $ 3,963 $ 419
Schedule of Available-for-sale Securities	Scheduled maturities of available-for-sale securities at March 31, 2024 were as follows: Amortized cost Estimated fair value Within 1 year $ 2,084 $ 1,858 After 1 year through 5 years 8,256 7,760 After 5 years through 10 years 70,395 59,563 After 10 years 157,117 123,377 Total $ 237,852 $ 192,558
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	Three Months Ended March 31, Derivative Gain (Loss) Location of Gain (Loss) Gain (Loss) Reclassified Derivative Instrument 2024 2023 2024 2023 Interest rate swap $ (1,517) $ (2,586) Interest expense $ 2,591 $ 137
Schedule of Fair Value, by Balance Sheet Grouping	The carrying value and estimated fair value of debt was as follows: March 31, 2024 December 31, 2023 Carrying value $ 2,134,165 $ 2,146,032 Fair value $ 1,929,648 $ 1,893,620

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	Activity in our restructuring reserves was as follows: 2023 Plan Prior Plan Total Balance at January 1, 2024 $ 26,128 $ — $ 26,128 Amounts charged to expense 4,315 — 4,315 Cash payments (14,989) — (14,989) Noncash activity (875) — (875) Balance at March 31, 2024 $ 14,579 $ — $ 14,579 Balance at January 1, 2023 $ — $ 7,647 $ 7,647 Amounts charged to expense — 3,599 3,599 Cash payments — (4,641) (4,641) Balance at March 31, 2023 $ — $ 6,605 $ 6,605
Schedule of Restructuring Expense	Components of restructuring expense were as follows: Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 Severance $ 3,378 $ 3,057 Facilities and other 937 542 Total $ 4,315 $ 3,599

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Total debt consisted of the following: Interest rate March 31, 2024 December 31, 2023 Term loan due March 2026 SOFR + 2.25% $ 273,500 $ 285,500 Notes due March 2027 6.875% 380,000 380,000 Notes due March 2028 SOFR + 6.9% 273,625 274,313 Term loan due March 2028 SOFR + 4.0% 436,500 437,625 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 861 1,181 Principal amount 2,175,327 2,189,460 Less: unamortized costs, net 41,162 43,428 Total debt 2,134,165 2,146,032 Less: current portion long-term debt 58,111 58,931 Long-term debt $ 2,076,054 $ 2,087,101

Pensions and Other Benefit Pr_2

Pensions and Other Benefit Programs (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 2024 2023 2024 2023 Service cost $ 12 $ 10 $ 188 $ 194 $ 92 $ 89 Interest cost 14,966 16,089 5,201 5,222 1,136 1,305 Expected return on plan assets (21,909) (21,613) (6,450) (7,344) — — Amortization of prior service (credit) cost (5) (5) 74 70 — — Amortization of net actuarial loss (gain) 4,972 4,417 1,923 505 (295) (356) Net periodic benefit (income) cost $ (1,964) $ (1,102) $ 936 $ (1,353) $ 933 $ 1,038 Contributions to benefit plans $ 1,069 $ 1,127 $ 6,998 $ 15,033 $ 3,700 $ 3,778

Stockholders_ Deficit (Tables)

Stockholders’ Deficit (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stockholders’ Deficit	Changes in stockholders’ deficit were as follows: Common stock Retained earnings Accumulated other comprehensive loss Treasury stock Total deficit Balance at January 1, 2024 $ 270,338 $ 3,077,988 $ (851,245) $ (2,865,657) $ (368,576) Net loss — (2,885) — — (2,885) Other comprehensive loss — — (12,566) — (12,566) Dividends paid ($0.05 per common share) — (8,832) — — (8,832) Issuance of common stock — (41,631) — 39,745 (1,886) Stock-based compensation expense — 2,390 — — 2,390 Balance at March 31, 2024 $ 270,338 $ 3,027,030 $ (863,811) $ (2,825,912) $ (392,355) Common stock Retained earnings Accumulated other comprehensive loss Treasury stock Total deficit 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 — (51,608) — 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

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of AOCL were as follows: Gain (Loss) Reclassified from AOCL Three Months Ended March 31, 2024 2023 Cash flow hedges Cost of sales $ — $ 1 Interest expense, net 2,591 137 Total before tax 2,591 138 Income tax provision 648 34 Net of tax $ 1,943 $ 104 Available-for-sale securities Financing revenue $ (648) $ 10 Income tax (benefit) provision (162) 2 Net of tax $ (486) $ 8 Pension and postretirement benefit plans Prior service costs $ (69) $ (65) Actuarial losses (6,600) (4,566) Total before tax (6,669) (4,631) Income tax benefit (1,628) (1,142) Net of tax $ (5,041) $ (3,489)
Schedule of Accumulated Other Comprehensive 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, 2024 $ 6,962 $ (33,463) $ (757,452) $ (67,292) $ (851,245) Other comprehensive income (loss) before reclassifications 702 (1,453) — (15,399) (16,150) Reclassifications into earnings (1,943) 486 5,041 — 3,584 Net other comprehensive (loss) income (1,241) (967) 5,041 (15,399) (12,566) Balance at March 31, 2024 $ 5,721 $ (34,430) $ (752,411) $ (82,691) $ (863,811) 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)

Supplemental Financial Statem_2

Supplemental Financial Statement Information (Tables)	3 Months Ended
	Mar. 31, 2024
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 is presented below. See Note 6 for information regarding the allowance for credit losses on finance receivables. Three Months Ended March 31, 2024 2023 Balance at beginning of year $ 6,139 $ 5,864 Amounts charged to expense 4,025 2,523 Write-offs, recoveries and other (1,216) (2,304) Balance at end of period $ 8,948 $ 6,083
Schedule of Other Income
Schedule of Cash Flow Supplemental Information	Supplemental cash flow information is as follows: Three Months Ended March 31, 2024 2023 Cash interest paid $ 56,013 $ 53,721 Cash income tax (refunds) payments, net $ (4,352) $ 2,781 Noncash activity Capital assets obtained under capital lease obligations $ 6,316 $ 721

Description of Business and B_3

Description of Business and Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percent of fortune 500 companies serviced (more than)	90%
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ (2,885)	$ (7,737)
Revision of Prior Period, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income	$ 5,000		$ 4,000

Revenue (Disaggregates of Reven

Revenue (Disaggregates of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	$ 830,509	$ 834,538
Total consolidated revenue	830,509	834,538
Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	333,265	340,641
Revenue from leasing transactions and financing	333,265	340,641
Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	169,807	158,902
Revenue from leasing transactions and financing	169,807	158,902
SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	327,437	334,995
Revenue from leasing transactions and financing	327,437	334,995
Sales And Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	693,383	687,605
Revenue from leasing transactions and financing	137,126	146,933
Total consolidated revenue	830,509	834,538
Sales And Services | Products/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from products and services	76,465	77,064
Sales And Services | Products/services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from products and services	616,918	610,541
Sales And Services | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	333,265	340,641
Sales And Services | Global Ecommerce | Products/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Sales And Services | Global Ecommerce | Products/services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from products and services	333,265	340,641
Sales And Services | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	169,807	158,902
Sales And Services | Presort Services | Products/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Sales And Services | Presort Services | Products/services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from products and services	169,807	158,902
Sales And Services | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	190,311	188,062
Sales And Services | SendTech Solutions | Products/services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue from products and services	76,465	77,064
Sales And Services | SendTech Solutions | Products/services transferred over time
Disaggregation of Revenue [Line Items]
Revenue from products and services	113,846	110,998
Business services
Disaggregation of Revenue [Line Items]
Revenue from products and services	535,597	523,491
Revenue from leasing transactions and financing	0	0
Total consolidated revenue	535,597	523,491
Business services | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	333,265	340,641
Business services | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	169,807	158,902
Business services | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	32,525	23,948
Support services
Disaggregation of Revenue [Line Items]
Revenue from products and services	96,333	105,284
Revenue from leasing transactions and financing	0	0
Total consolidated revenue	96,333	105,284
Support services | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Support services | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Support services | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	96,333	105,284
Financing
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Revenue from leasing transactions and financing	67,663	67,049
Total consolidated revenue	67,663	67,049
Financing | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Financing | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Financing | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Equipment sales
Disaggregation of Revenue [Line Items]
Revenue from products and services	24,732	19,995
Revenue from leasing transactions and financing	52,671	62,615
Total consolidated revenue	77,403	82,610
Equipment sales | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Equipment sales | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Equipment sales | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	24,732	19,995
Supplies
Disaggregation of Revenue [Line Items]
Revenue from products and services	36,721	38,835
Revenue from leasing transactions and financing	0	0
Total consolidated revenue	36,721	38,835
Supplies | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Supplies | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Supplies | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	36,721	38,835
Rentals
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Revenue from leasing transactions and financing	16,792	17,269
Total consolidated revenue	16,792	17,269
Rentals | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Rentals | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Rentals | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from products and services	0	0
Revenue from leasing transactions and financing
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	137,126	146,933
Revenue from leasing transactions and financing | Global Ecommerce
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	0	0
Revenue from leasing transactions and financing | Presort Services
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	0	0
Revenue from leasing transactions and financing | SendTech Solutions
Disaggregation of Revenue [Line Items]
Revenue from leasing transactions and financing	$ 137,126	$ 146,933

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Advanced billings, revenue recognized	$ 48
Lease transactions	$ 8	$ 7
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
SendTech Solutions
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction period, not included (less then)	12 months

Revenue (Contract Assets and Ad

Revenue (Contract Assets and Advance Billings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Advance billings, current	$ 80,801	$ 82,124
Advance billings, noncurrent	502	$ 507
Increase/ (decrease)
Advance billings, current	(1,323)
Advance billings, noncurrent	$ (5)

Revenue (Future Performance Obl

Revenue (Future Performance Obligations) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 689,723
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 182,639
Expected timing of satisfaction period	9 months
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	$ 208,922
Expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future performance obligations	$ 298,162
Expected timing of satisfaction period	3 years

Segment Information (Revenues)

Segment Information (Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 830,509	$ 834,538
Global Ecommerce
Segment Reporting Information [Line Items]
Total from contracts with customers	333,265	340,641
Presort Services
Segment Reporting Information [Line Items]
Total from contracts with customers	169,807	158,902
SendTech Solutions
Segment Reporting Information [Line Items]
Total from contracts with customers	$ 327,437	$ 334,995

Segment Information (Net Loss)

Segment Information (Net Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reconciliation of adjusted segment EBIT to net income or loss:
Interest expense, net	$ (27,766)	$ (22,342)
Restructuring charges	(4,315)	(3,599)
Gain on debt redemption	0	2,836
(Provision) benefit for income taxes	(12,559)	3,250
Net loss	(2,885)	(7,737)
Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBIT	106,180	89,370
Segment Reconciling Items
Reconciliation of adjusted segment EBIT to net income or loss:
Interest expense, net	(44,369)	(36,878)
Unallocated corporate expenses	(49,770)	(56,349)
Restructuring charges	(4,315)	(3,599)
Proxy solicitation fees	0	(6,367)
Gain on debt redemption	0	2,836
Foreign currency gain on intercompany loans	4,638	0
Transaction costs	(2,690)	0
Global Ecommerce | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBIT	(35,427)	(33,172)
Presort Services | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBIT	40,329	26,905
SendTech Solutions | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBIT	$ 101,278	$ 95,637

Earnings per Share (EPS) (Detai

Earnings per Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net loss	$ (2,885)	$ (7,737)
Denominator:
Weighted-average shares used in basic EPS (in shares)	176,997	174,626
Dilutive effect of common stock equivalents (in shares)	0	0
Weighted-average shares used in diluted EPS (in shares)	176,997	174,626
Basic net loss per share (in dollars per share)	$ (0.02)	$ (0.04)
Diluted net loss per share (in dollars per share)	$ (0.02)	$ (0.04)
Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive (in shares)	7,063	8,148
Dilutive effect of common stock equivalents (in shares)	4,500	4,700

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 26,930	$ 21,201
Supplies and service parts	26,940	25,522
Finished products	24,813	23,330
Total inventories	$ 78,683	$ 70,053

Finance Assets and Lessor Ope_3

Finance Assets and Lessor Operating Leases (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Revenue recognition resume period (less than)	60 days
Portfolio small dollar applications below thousand	$ 50
Low
Financing Receivable, Allowance for Credit Loss [Line Items]
Approximate percentage of portfolio	5%
High
Financing Receivable, Allowance for Credit Loss [Line Items]
Approximate percentage of portfolio	10%
Financing Receivable | Geographic Concentration Risk | North America
Financing Receivable, Allowance for Credit Loss [Line Items]
Concentration risk, percentage	85%
Loan receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Revenue recognition discontinuation period (greater than)	90 days
Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Lease period	3 years
Minimum | Mailing Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Term of operating leases	1 year
Minimum | Medium
Financing Receivable, Allowance for Credit Loss [Line Items]
Approximate percentage of portfolio	5%
Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Lease period	5 years
Maximum | Mailing Equipment
Financing Receivable, Allowance for Credit Loss [Line Items]
Term of operating leases	5 years
Maximum | Medium
Financing Receivable, Allowance for Credit Loss [Line Items]
Approximate percentage of portfolio	10%

Finance Assets and Lessor Ope_4

Finance Assets and Lessor Operating Leases (Finance Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (21,968)	$ (23,227)	$ (21,904)	$ (21,950)
Net investment in receivables	1,185,615	1,216,621
North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	1,074,168	1,093,865
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net investment in receivables	111,447	122,756
Sales-type lease receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	1,111,265	1,131,209
Unguaranteed residual values	44,601	45,270
Unearned income	(296,792)	(296,558)
Allowance for credit losses	(15,692)	(16,728)
Net investment in receivables	843,382	863,193
Sales-type lease receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	981,126	987,743
Unguaranteed residual values	37,798	38,059
Unearned income	(255,945)	(253,711)
Allowance for credit losses	(13,213)	(13,942)	(13,458)	(14,131)
Net investment in receivables	749,766	758,149
Sales-type lease receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	130,139	143,466
Unguaranteed residual values	6,803	7,211
Unearned income	(40,847)	(42,847)
Allowance for credit losses	(2,479)	(2,786)	(2,873)	(2,893)
Net investment in receivables	93,616	105,044
Loan receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	348,509	359,927
Allowance for credit losses	(6,276)	(6,499)
Net investment in receivables	342,233	353,428
Loan receivables | North America
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	330,526	342,062
Allowance for credit losses	(6,124)	(6,346)	(5,423)	(4,787)
Net investment in receivables	324,402	335,716
Loan receivables | International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross finance receivables	17,983	17,865
Allowance for credit losses	(152)	(153)	$ (150)	$ (139)
Net investment in receivables	$ 17,831	$ 17,712

Finance Assets and Lessor Ope_5

Finance Assets and Lessor Operating Leases (Sales-type Lease and Loan Receivables) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Sales-type Lease Receivables
Remainder 2024	$ 324,468
2025	339,672
2026	240,035
2027	142,609
2028	58,495
Thereafter	5,986
Total	1,111,265
Loan Receivables
Remainder 2024	230,723
2025	39,781
2026	31,234
2027	24,551
2028	15,644
Thereafter	6,576
Total	348,509
North America
Sales-type Lease Receivables
Remainder 2024	276,844
2025	301,413
2026	215,733
2027	129,174
2028	53,162
Thereafter	4,800
Total	981,126
Loan Receivables
Remainder 2024	212,740
2025	39,781
2026	31,234
2027	24,551
2028	15,644
Thereafter	6,576
Total	330,526
International
Sales-type Lease Receivables
Remainder 2024	47,624
2025	38,259
2026	24,302
2027	13,435
2028	5,333
Thereafter	1,186
Total	130,139
Loan Receivables
Remainder 2024	17,983
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total	$ 17,983

Finance Assets and Lessor Ope_6

Finance Assets and Lessor Operating Leases (Aging of Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total	$ 1,459,774	$ 1,491,136
Past due amounts 0 - 90 days
Financing Receivable, Past Due [Line Items]
Total	1,444,951	1,476,054
Past due amounts >90 days
Financing Receivable, Past Due [Line Items]
Total	14,823	15,082
Sales-type lease receivables | North America
Financing Receivable, Past Due [Line Items]
Total	981,126	987,743
Sales-type lease receivables | International
Financing Receivable, Past Due [Line Items]
Total	130,139	143,466
Sales-type lease receivables | Past due amounts 0 - 90 days | North America
Financing Receivable, Past Due [Line Items]
Total	970,612	977,744
Sales-type lease receivables | Past due amounts 0 - 90 days | International
Financing Receivable, Past Due [Line Items]
Total	128,802	140,857
Sales-type lease receivables | Past due amounts >90 days | North America
Financing Receivable, Past Due [Line Items]
Total	10,514	9,999
Sales-type lease receivables | Past due amounts >90 days | International
Financing Receivable, Past Due [Line Items]
Total	1,337	2,609
Loan receivables
Financing Receivable, Past Due [Line Items]
Total	348,509	359,927
Loan receivables | North America
Financing Receivable, Past Due [Line Items]
Total	330,526	342,062
Loan receivables | International
Financing Receivable, Past Due [Line Items]
Total	17,983	17,865
Loan receivables | Past due amounts 0 - 90 days | North America
Financing Receivable, Past Due [Line Items]
Total	327,806	339,789
Loan receivables | Past due amounts 0 - 90 days | International
Financing Receivable, Past Due [Line Items]
Total	17,731	17,664
Loan receivables | Past due amounts >90 days | North America
Financing Receivable, Past Due [Line Items]
Total	2,720	2,273
Loan receivables | Past due amounts >90 days | International
Financing Receivable, Past Due [Line Items]
Total	$ 252	$ 201

Finance Assets and Lessor Ope_7

Finance Assets and Lessor Operating Leases (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance for Credit Losses
Beginning Balance	$ 23,227	$ 21,950
Amounts charged to expense	640	1,785
Write-offs	(2,661)	(3,105)
Recoveries	919	1,373
Other	(157)	(99)
Ending Balance	21,968	21,904
Sales-type lease receivables
Allowance for Credit Losses
Beginning Balance	16,728
Ending Balance	15,692
Sales-type lease receivables | North America
Allowance for Credit Losses
Beginning Balance	13,942	14,131
Amounts charged to expense	62	395
Write-offs	(1,178)	(1,683)
Recoveries	398	614
Other	(11)	1
Ending Balance	13,213	13,458
Sales-type lease receivables | International
Allowance for Credit Losses
Beginning Balance	2,786	2,893
Amounts charged to expense	(123)	238
Write-offs	(156)	(267)
Recoveries	113	111
Other	(141)	(102)
Ending Balance	2,479	2,873
Loan receivables
Allowance for Credit Losses
Beginning Balance	6,499
Write-offs	(1,327)	(1,155)
Ending Balance	6,276
Loan receivables | North America
Allowance for Credit Losses
Beginning Balance	6,346	4,787
Amounts charged to expense	631	1,097
Write-offs	(1,260)	(1,109)
Recoveries	408	648
Other	(1)	0
Ending Balance	6,124	5,423
Loan receivables | International
Allowance for Credit Losses
Beginning Balance	153	139
Amounts charged to expense	70	55
Write-offs	(67)	(46)
Recoveries	0	0
Other	(4)	2
Ending Balance	$ 152	$ 150

Finance Assets and Lessor Ope_8

Finance Assets and Lessor Operating Leases (Write Offs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 2,661	$ 3,105
Sales-type lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Year one	21
Year two	193	455
Year three	566	675
Year four	249	412
Year five	172	250
Prior	133	158
Loan receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 1,327	$ 1,155

Finance Assets and Lessor Ope_9

Finance Assets and Lessor Operating Leases (Credit Quality) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 1,459,774	$ 1,491,136
Low
Financing Receivable, Credit Quality Indicator [Line Items]
Total	1,057,257	1,074,740
Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Total	206,258	204,063
High
Financing Receivable, Credit Quality Indicator [Line Items]
Total	20,527	22,168
Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Total	175,732	190,165
Sales-type lease receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	96,477	371,581
Year two	348,124	312,894
Year three	279,652	215,724
Year four	187,352	130,810
Year five	113,153	62,967
Prior	86,507	37,233
Sales-type lease receivables | Low
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	54,204	261,583
Year two	250,379	222,947
Year three	208,036	155,193
Year four	140,263	96,986
Year five	88,707	46,635
Prior	64,848	27,164
Sales-type lease receivables | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	9,721	46,208
Year two	44,388	35,891
Year three	33,492	24,483
Year four	22,228	16,027
Year five	13,821	10,503
Prior	16,441	8,041
Sales-type lease receivables | High
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	791	4,455
Year two	4,261	4,217
Year three	3,955	2,554
Year four	2,347	1,853
Year five	1,422	740
Prior	979	862
Sales-type lease receivables | Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	31,761	59,335
Year two	49,096	49,839
Year three	34,169	33,494
Year four	22,514	15,944
Year five	9,203	5,089
Prior	4,239	1,166
Loan receivables
Financing Receivable, Credit Quality Indicator [Line Items]
Total	348,509	359,927
Loan receivables | Low
Financing Receivable, Credit Quality Indicator [Line Items]
Total	250,820	264,232
Loan receivables | Medium
Financing Receivable, Credit Quality Indicator [Line Items]
Total	66,167	62,910
Loan receivables | High
Financing Receivable, Credit Quality Indicator [Line Items]
Total	6,772	7,487
Loan receivables | Not Scored
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 24,750	$ 25,298

Finance Assets and Lessor Op_10

Finance Assets and Lessor Operating Leases (Lease Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Receivables [Abstract]
Profit recognized at commencement	$ 26,977	$ 31,822
Interest income	37,968	38,931
Total lease income from sales-type leases	$ 64,945	$ 70,753

Finance Assets and Lessor Op_11

Finance Assets and Lessor Operating Leases (Operating Leases) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Receivables [Abstract]
Remainder 2024	$ 13,687
2025	18,505
2026	20,622
2027	5,653
2028	951
Thereafter	1,706
Total	$ 61,124

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Finite lived intangible assets
Gross Carrying Amount	$ 158,690		$ 158,759
Accumulated Amortization	(100,413)		(96,509)
Net Carrying Amount	58,277		62,250
Amortization expense	4,000	$ 4,000
Customer relationships
Finite lived intangible assets
Gross Carrying Amount	155,710		155,712
Accumulated Amortization	(99,213)		(95,409)
Net Carrying Amount	56,497		60,303
Software & technology
Finite lived intangible assets
Gross Carrying Amount	2,980		3,047
Accumulated Amortization	(1,200)		(1,100)
Net Carrying Amount	$ 1,780		$ 1,947

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite lived intangible assets future amortization expense
Remainder 2024	$ 11,790
2025	15,516
2026	14,527
2027	11,472
2028	2,438
Thereafter	2,534
Net Carrying Amount	$ 58,277	$ 62,250

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill
Beginning balance	$ 734,409
Currency impact	(5,118)
Ending balance	729,291
Presort Services
Goodwill
Beginning balance	223,763
Currency impact	0
Ending balance	223,763
SendTech Solutions
Goodwill
Beginning balance	510,646
Currency impact	(5,118)
Ending balance	$ 505,528

Fair Value Measurements and D_3

Fair Value Measurements and Derivative Instruments (Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 192,558	$ 203,842
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,575	1,581
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	23,763	28,030
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	52,163	54,330
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	143,016	201,850
Equity securities	16,125	15,341
Mortgage-backed / asset-backed securities	115,057	119,901
Total assets	366,744	437,657
Recurring basis | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	6,908	8,425
Recurring basis | Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	7,312	7,322
Recurring basis | Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	26,163	30,488
Recurring basis | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	52,163	54,330
Level 1 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	16,315	13,366
Equity securities	0	0
Mortgage-backed / asset-backed securities	0	0
Total assets	25,381	26,436
Level 1 | Recurring basis | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 1 | Recurring basis | Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	1,575	1,581
Level 1 | Recurring basis | Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	7,491	11,489
Level 1 | Recurring basis | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Level 2 | Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	126,701	188,484
Equity securities	16,125	15,341
Mortgage-backed / asset-backed securities	115,057	119,901
Total assets	341,363	411,221
Level 2 | Recurring basis | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	6,908	8,425
Level 2 | Recurring basis | Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	5,737	5,741
Level 2 | Recurring basis | Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	18,672	18,999
Level 2 | Recurring basis | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	52,163	54,330
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
Level 3 | Recurring basis | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 3 | Recurring basis | Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Level 3 | Recurring basis | Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	0	0
Level 3 | Recurring basis | Corporate debt securities
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, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	$ 237,852	$ 247,866
Gross unrealized losses	(45,294)	(44,024)
Estimated fair value	192,558	203,842
Government and related securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	30,636	35,048
Gross unrealized losses	(6,873)	(7,018)
Estimated fair value	23,763	28,030
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	63,126	65,008
Gross unrealized losses	(10,963)	(10,678)
Estimated fair value	52,163	54,330
Commingled fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	1,799	1,788
Gross unrealized losses	(224)	(207)
Estimated fair value	1,575	1,581
Mortgage-backed / asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized cost	142,291	146,022
Gross unrealized losses	(27,234)	(26,121)
Estimated fair value	$ 115,057	$ 119,901

Fair Value Measurements and D_5

Fair Value Measurements and Derivative Instruments (Unrealized Holding Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Greater than 12 continuous months, Fair Value	$ 190,699	$ 199,879
Greater than 12 continuous months, Gross unrealized losses	45,068	43,605
Less than 12 continuous months, Fair Value	1,859	3,963
Less than 12 continuous months, Gross unrealized losses	226	419
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	23,763	28,030
Greater than 12 continuous months, Gross unrealized losses	6,873	7,018
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	51,879	51,948
Greater than 12 continuous months, Gross unrealized losses	10,961	10,466
Less than 12 continuous months, Fair Value	284	2,382
Less than 12 continuous months, Gross unrealized losses	2	212
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	1,575	1,581
Less than 12 continuous months, Gross unrealized losses	224	207
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	115,057	119,901
Greater than 12 continuous months, Gross unrealized losses	$ 27,234	$ 26,121

Fair Value Measurements and D_6

Fair Value Measurements and Derivative Instruments (Available-for-sale Securities Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Amortized cost
Within 1 year	$ 2,084
After 1 year through 5 years	8,256
After 5 years through 10 years	70,395
After 10 years	157,117
Amortized cost	237,852	$ 247,866
Estimated fair value
Within 1 year	1,858
After 1 year through 5 years	7,760
After 5 years through 10 years	59,563
After 10 years	123,377
Total	$ 192,558	$ 203,842

Fair Value Measurements and D_7

Fair Value Measurements and Derivative Instruments (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Derivative [Line Items]
Held-to-maturity securities	$ 225,000,000		$ 265,000,000
Certificates of deposit
Derivative [Line Items]
Held-to-maturity securities, term (less than)	90 days
Government securities
Derivative [Line Items]
Held-to-maturity securities, term (less than)	2 years
Foreign exchange contracts
Derivative [Line Items]
Non-designated derivative instruments, adjustment		$ 2,000,000
Interest rate swaps
Derivative [Line Items]
Derivative notional amount	$ 200,000,000
Fixed interest rate	0.585%
Interest rate swaps | SOFR
Derivative [Line Items]
Basis spread on variable rate	0.10%

Fair Value Measurements and D_8

Fair Value Measurements and Derivative Instruments (Cash Flow Hedging Relationships) (Details) - Interest rate swaps - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative [Line Items]
Derivative Gain (Loss) Recognized in AOCL (Effective Portion)	$ (1,517)	$ (2,586)
Interest expense
Derivative [Line Items]
Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)	$ 2,591	$ 137

Fair Value Measurements and D_9

Fair Value Measurements and Derivative Instruments (Fair Value of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 2,134,165	$ 2,146,032
Fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt	$ 1,929,648	$ 1,893,620

Restructuring Charges (Narrativ

Restructuring Charges (Narrative) (Details) - The 2023 Plan $ in Millions	1 Months Ended
	May 31, 2023 USD ($) position	Mar. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, cost incurred to date		$ 62
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated | position	850
Restructuring and related cost, expected cost	$ 60
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected number of positions eliminated | position	950
Restructuring and related cost, expected cost	$ 70

Restructuring Charges (Activity

Restructuring Charges (Activity In Restructuring Charges) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Costs
Balance Beginning	$ 26,128	$ 7,647
Amounts charged to expense	4,315	3,599
Cash payments	(14,989)	(4,641)
Noncash activity	(875)
Balance Ending	14,579	6,605
2023 Plan
Restructuring Costs
Balance Beginning	26,128	0
Amounts charged to expense	4,315	0
Cash payments	(14,989)	0
Noncash activity	(875)
Balance Ending	14,579	0
Prior Plan
Restructuring Costs
Balance Beginning	0	7,647
Amounts charged to expense	0	3,599
Cash payments	0	(4,641)
Noncash activity	0
Balance Ending	$ 0	$ 6,605

Restructuring Charges (Componen

Restructuring Charges (Components of Restructuring Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Severance	$ 3,378	$ 3,057
Facilities and other	937	542
Total	$ 4,315	$ 3,599

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal amount	$ 2,175,327	$ 2,189,460
Less: unamortized costs, net	41,162	43,428
Total debt	2,134,165	2,146,032
Less: current portion long-term debt	58,111	58,931
Long-term debt	2,076,054	2,087,101
Other debt
Debt Instrument [Line Items]
Principal amount	$ 861	1,181
Term loan due March 2026 | Notes due
Debt Instrument [Line Items]
Interest rate	7.70%
Principal amount	$ 273,500	285,500
Term loan due March 2026 | Notes due | SOFR
Debt Instrument [Line Items]
Interest rate	2.25%
Notes due March 2027 | Notes due
Debt Instrument [Line Items]
Interest rate	6.875%
Principal amount	$ 380,000	380,000
Notes due March 2028 | Notes due
Debt Instrument [Line Items]
Interest rate	12.20%
Principal amount	$ 273,625	274,313
Notes due March 2028 | Notes due | SOFR
Debt Instrument [Line Items]
Interest rate	6.90%
Term loan due March 2028 | Notes due
Debt Instrument [Line Items]
Interest rate	9.40%
Principal amount	$ 436,500	437,625
Term loan due March 2028 | Notes due | SOFR
Debt Instrument [Line Items]
Interest rate	4%
Notes due March 2029 | Notes due
Debt Instrument [Line Items]
Interest rate	7.25%
Principal amount	$ 350,000	350,000
Notes due January 2037 | Notes due
Debt Instrument [Line Items]
Interest rate	5.25%
Principal amount	$ 35,841	35,841
Notes due March 2043 | Notes due
Debt Instrument [Line Items]
Interest rate	6.70%
Principal amount	$ 425,000	$ 425,000

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024 USD ($)
Line of credit | Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 500,000,000
Leverage ratio, maximum			4.25
Interest coverage ratio, minimum			1.75
Outstanding borrowings			$ 0
Line of credit | Revolving credit facility | Forecast
Debt Instrument [Line Items]
Leverage ratio, maximum		4
Interest coverage ratio, minimum	2
Term loan due March 2026 | Notes due
Debt Instrument [Line Items]
Interest rate			7.70%
Term loan due March 2028 | Notes due
Debt Instrument [Line Items]
Interest rate			9.40%
Notes due March 2028 | Notes due
Debt Instrument [Line Items]
Interest rate			12.20%

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, 2024	Mar. 31, 2023
Nonpension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 92	$ 89
Interest cost	1,136	1,305
Expected return on plan assets	0	0
Amortization of prior service (credit) cost	0	0
Amortization of net actuarial loss (gain)	(295)	(356)
Net periodic benefit (income) cost	933	1,038
Contributions to benefit plans	3,700	3,778
United States | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	12	10
Interest cost	14,966	16,089
Expected return on plan assets	(21,909)	(21,613)
Amortization of prior service (credit) cost	(5)	(5)
Amortization of net actuarial loss (gain)	4,972	4,417
Net periodic benefit (income) cost	(1,964)	(1,102)
Contributions to benefit plans	1,069	1,127
Foreign | Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	188	194
Interest cost	5,201	5,222
Expected return on plan assets	(6,450)	(7,344)
Amortization of prior service (credit) cost	74	70
Amortization of net actuarial loss (gain)	1,923	505
Net periodic benefit (income) cost	936	(1,353)
Contributions to benefit plans	$ 6,998	$ 15,033

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	129.80%	29.60%
Percent decrease in unrecognized benefits, reasonably possible (up to)	10%

Stockholders_ Deficit (Details)

Stockholders’ Deficit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ (368,576)	$ 60,653
Net loss	(2,885)	(7,737)
Other comprehensive (loss) income	(12,566)	15,586
Dividends paid	(8,832)	(8,725)
Issuance of common stock	(1,886)	(3,058)
Stock-based compensation expense	2,390	3,245
Balances, end of period	$ (392,355)	$ 59,964
Dividends paid (in dollars per share)	$ 0.05	$ 0.05
Common stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	$ 270,338	$ 323,338
Balances, end of period	270,338	323,338
Retained earnings
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	3,077,988	5,125,677
Net loss	(2,885)	(7,737)
Dividends paid	(8,832)	(8,725)
Issuance of common stock	(41,631)	(51,608)
Stock-based compensation expense	2,390	3,245
Balances, end of period	3,027,030	5,060,852
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(851,245)	(835,564)
Other comprehensive (loss) income	(12,566)	15,586
Balances, end of period	(863,811)	(819,978)
Treasury stock
Increase (Decrease) in Stockholders' Equity
Balances, beginning of period	(2,865,657)	(4,552,798)
Issuance of common stock	39,745	48,550
Balances, end of period	$ (2,825,912)	$ (4,504,248)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Reclassifications) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	$ (27,766)	$ (22,342)
Income (loss) before taxes	9,674	(10,987)
Income tax (benefit) provision	12,559	(3,250)
Net loss	(2,885)	(7,737)
Financing revenue	830,509	834,538
Reclassification out of Accumulated Other Comprehensive Loss | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	0	1
Interest expense, net	2,591	137
Income (loss) before taxes	2,591	138
Income tax (benefit) provision	648	34
Net loss	1,943	104
Reclassification out of Accumulated Other Comprehensive Loss | Available for sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax (benefit) provision	(162)	2
Net loss	(486)	8
Financing revenue	(648)	10
Reclassification out of Accumulated Other Comprehensive Loss | Pension and postretirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before taxes	(6,669)	(4,631)
Income tax (benefit) provision	(1,628)	(1,142)
Net loss	(5,041)	(3,489)
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	(69)	(65)
Reclassification out of Accumulated Other Comprehensive Loss | Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension and postretirement benefit plans	$ (6,600)	$ (4,566)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Changes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	$ (368,576)	$ 60,653
Other comprehensive income (loss) before reclassifications	(16,150)	12,209
Reclassifications into earnings	3,584	3,377
Other comprehensive (loss) income, net of tax	(12,566)	15,586
Balances, end of period	(392,355)	59,964
Cash flow hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	6,962	12,503
Other comprehensive income (loss) before reclassifications	702	(1,958)
Reclassifications into earnings	(1,943)	(104)
Other comprehensive (loss) income, net of tax	(1,241)	(2,062)
Balances, end of period	5,721	10,441
Available for sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(33,463)	(39,440)
Other comprehensive income (loss) before reclassifications	(1,453)	3,280
Reclassifications into earnings	486	(8)
Other comprehensive (loss) income, net of tax	(967)	3,272
Balances, end of period	(34,430)	(36,168)
Pension and postretirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(757,452)	(716,056)
Other comprehensive income (loss) before reclassifications	0	0
Reclassifications into earnings	5,041	3,489
Other comprehensive (loss) income, net of tax	5,041	3,489
Balances, end of period	(752,411)	(712,567)
Foreign currency adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(67,292)	(92,571)
Other comprehensive income (loss) before reclassifications	(15,399)	10,887
Reclassifications into earnings	0	0
Other comprehensive (loss) income, net of tax	(15,399)	10,887
Balances, end of period	(82,691)	(81,684)
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax
Balances, beginning of period	(851,245)	(835,564)
Other comprehensive (loss) income, net of tax	(12,566)	15,586
Balances, end of period	$ (863,811)	$ (819,978)

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, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 6,139	$ 5,864
Amounts charged to expense	4,025	2,523
Write-offs, recoveries and other	(1,216)	(2,304)
Balance at end of period	$ 8,948	$ 6,083

Supplemental Financial Statem_4

Supplemental Financial Statement Information (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Cash interest paid	$ 56,013	$ 53,721
Cash income tax (refunds) payments, net	(4,352)
Cash income tax (refunds) payments, net		2,781
Capital assets obtained under capital lease obligations	$ 6,316	$ 721

Supplemental Financial Statem_5

Supplemental Financial Statement Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Losses from the disposal of fixed assets	$ 3	$ 3
Leases signed but not yet commenced	$ 17
Minimum
Lessee, Lease, Description [Line Items]
Leases signed but not yet commenced, term of contract	3 years
Maximum
Lessee, Lease, Description [Line Items]
Leases signed but not yet commenced, term of contract	7 years