Dan. you, Thank
noted, improving with significant sheet. in XXXX made logos clients. revenue relationships which just expanded Dan our higher-value our flexibility the priorities, core growth, our Top offerings, progress In to we growth we of strategic added against revenue in and X existing include strengthening regards new and As balance driving driving executing
our major ability the milestones work. continue successfully or We to census complex on we meet our XXXX for deliver exceed also large, to all clients demonstrated as projects
To strengthen and progress in actions, SG&A. reductions productivity cost made aggressive other cost lowering serve takeout significant our our through core, we including to improvements
to unprofitable selling the and operating businesses, We facilities away two Brazilian closing exiting steps work. reshape by from also our business aggressive walking market, took
operations the While sales impacted XXXX our and year was from for year, than prior were points. XX in higher negatively the margin income basis our improved actions, from operating adjusted these adjusted
the We industry are of these especially results proud backdrop. given difficult
reduced the our sheet year-end by balance year Lastly, we bringing as debt million, strategic $XXX in a front achievement XXXX. reduction we $XX since was investments XXXX our accomplished us million by important total This while million. XXXX $XXX total was to for increased capital on big
on provide a of me by XX.X% expense interest also addition, but reduce debt our lowered weighted let later I'll review fourth continue In interest results. details average with started rate. our our financial we and quarter to more our get
to the Net a slides. associated of $XXX associated U.S. of dollar. million X% the million $X.XX the X of recent in Brazil, billion Turning were business a plus sales dispositions which Page of million down Reported organically. $XX were of a the sales and net with stronger included reduction $X with quarter, supplemental reduction X closure down
X.X%, commercial lower segments, an logistics. of print business in reported by services and the driven volumes decline For organic primarily
election-related by was business, exit ongoing plant China Commercial estimate Print the negatively and print in lower rate commercial annualized the our Sales closures, unprofitable decline and sales. On organic for sales between an X% be X%. impacted secular tariffs continued we basis, that to secular of declines, products
as the fourth declined Our the in reported quarter. continued the Logistics industry in challenges business quarter previously
reported labels. one categories XXXX. of and the front, by higher in organic increase product primarily performance Labels, our growth in Solutions marketing shipping a performance direct to digital as our largely the to in due is growth industrial and volumes driven higher Marketing strong in well clients. substantially through was benefited On sales significant of as including fulfillment. Print of XX.X%, existing strategic quarter, organic reported to marketing expanded work with Digital in census relationships volumes, XXXX from clients. expected retail with and contribute April significantly Favorable Census growth performance attributable Fulfillment print and Direct production
On operations of fourth adjusted our than was the lower XXXX. X, of $XX $XX quarter from million income Page million
incentive higher Our by-product and also to adjustment compensation were incentive reserve recoveries XXXX. compensation to in XXXX, expense XXXX, in lower was due an our in
quarter by impact third and the and Brazil provided headwind business. pressure mix. partially fourth nature the of that normal our addition, were In for factors, in a the XXXX, initiatives cost-reduction closure presented and of the ongoing product volume plus offset while us strong for to pricing only quarter it due tailwind favorable These of a seasonal second the of lower
quarter in execution earnings Adjusted $XX is impact year, per reflecting the fourth prior the SG&A earnings from of compared Adjusted per of serve. of down $XXX X.X% lower and to million period. year to to expense our share $X.XX the strategic of objective or $X.XX of ongoing as the prior dispositions fourth our million $X.XX cost share quarter decreased in the in recent
was primarily The from and was reduction due offset by EPS to operations, we driven The expense. to lower from and outstanding, our actions higher reduction decline expense income average lower taxes reduce in by benefited interest teams' interest debt rates. partially an interest $X million also adjusted
XX% repeat Our to XXXX, $X for XXXX not certain adjusted state valuation reserve effective that tax charge million of a benefits due XXXX, in did rate in the a year. increased NOLs and primarily to discrete current from against in XX% in XXXX in
primarily tax deduction. effective disallowed statutory the than rates, the higher rate been due Our interest has to
and expense, interest our rate reduce help to both rate through years. efforts ongoing management, in repayment future among tax will debt improve other our effective expect initiatives, We
in results to Our reporting a charges other unit of logistics $XX and of other million. and the recognize restructuring the including million, of the million restructuring for and impairment quarter noncash charge goodwill of a included GAAP charges results $X GAAP $XX net included restructuring our initially the on of provisional prior related onetime million and refinancing, million to December $XX associated and tax other charge charge recorded tax $XX The year XX, debt XXXX. transition charges with a million $XXX
cash balance X. Turning and sheet now on flow Page the to
level against on including had facility total we end availability on XXXX. since $XXX the hand million of $XX the the of XXXX, credit availability spin drawn debt in represents which credit billion, XX, highest $XXX Remaining year, of facility. the million total million December of and outstanding was cash at our of $X.XX the As
compared quarter the negatively million were in million XXXX reduction increase Net the as million, million tax of expenditures down activities impacted payments $XX flat to in of year. million of primarily to a prior in refunds quarter by were year. Capital fourth quarter prior the a essentially cash tax due $XX $XXX was $XX the payments. provided by in tax to net Net $XX in operating the
few, XX $XXX several XXXX. To a cash taken since have repatriated during year, flexibility summarizes locations. key million our foreign we Page highlight sheet of from we improve actions the to balance
since our also X to proceeds bringing XXXX We million. businesses, sold dispositions $XXX business total from
We nonrefundable XXXX. sale Proceeds also sold the building from X XXXX now in deposits facilities since and $XXX million. sales collected facility X on additional total China
our improve the facility since to reduction in total China. of or to efforts printing in our nearly Shenzhen, pending sheet balance $XXX yielded Collectively, our of have debt million regards XXXX. In sale XX% outstanding a
a gain Once approvals, the to with secure transaction necessary During work approved, another we obtain last collected to significant related $XX expect quarter and all the record collected the government completed our activities $XX million. to the I we The close, the have they on to in continues which deposit quarter, project. sale. important cumulative will XXXX. million, to this nonrefundable of buyer amount that mentioned expect bringing we to
with to purchase sale close. pay obtained even not government's does reminder, price, requires entire not buyer the a if As approval them and our the contract is the the
some Page slides take XX supplemental outstanding million. maturities of to minutes by going with to category. show few our year, total scheduled on and XXXX a plan in the December sheet our to reflected maturities. in outstanding XX. last the reduced as are $XXX notes, current mature Since are debt have perspective debt for of balance the we June of various I'm $XX outstanding nearly upcoming the of balance provide our The on million, an
we those retired of million facility, to repay notes notes matured XXXX that $XXX credit last We similar February. availability plan how our on to using
flow facility currently have our we ABL additional XXXX, from proceeds we both potential cash from and due expand Although in further assets, to retire availability our financial maturities to sufficient through business facility dispositions. coming monetizing sales plan flexibility including and positive
a XXXX, our interest value rate addition, paying. we $XXX interest fourth rate of swap quarter on notional to term of the the LIBOR entered into part rate resulting during with rate fix early the were variable of million the in lower a In and loan, opportunistically agreements portion than we
our end partially due is year-end, level The $XXX to asset and increase up by plans Planned million, the at is contributions pension strong by which million of post-retirement at rates, lower Also returns. XXXX. unfunded $XXX other slight were offset underfunded from the discount XXXX to $XX as be XXXX, in which our expected Income all to million, to compared other plans, million be from and is post-retirement is XXXX. to funding pension million approximately recorded $XX under XXXX approximately are level. expected similar from $XX all plans in
year Our reflected on XXXX expectations for are full Page XX.
to of predict on is have negative will in coronavirus, it early known our impact sales that it from expect also quarter. While and a first too income do the full COVID-XX, operations still the as year impact we
still facilities weeks our early even are running at of in operations capacity and were due we All than our X shortages. to for January China full late closed less February. in nearly And labor production now though full open, are
China us in are we produce virus obtain what products. have predict COVID-XX to as At to time, certain unable the for are unable beyond ship also products chain this impacted our supply all addition, required to is will first we the and quarter. In by impact
Our is factors, work on including employees production demand, recover. the ramp-up to recovery our predicated quickly unknown in how ability to client suppliers and return of and many resume our
as quarters and including we recoveries. impact, better sales provide of to in the timing can full assess year updates learn continue on situation future will possible this We more the
lower our which sales negatively expect million from $XXX The range For the comparison Versus of by full decrease slight impacted sales midpoint contract in will dispositions. billion in census $X.XX the business $X.XX a the performance, XXXX, sales platform. assumes to XXXX we year, net be to rationalization billion. sales range from operating reflects of further organic net and global previous to of year-over-year our related approximately
Adjusted focus includes from range our volume range higher continued from million, income which labor to from is strong initiatives. and operations midpoint changes. our rate impact $XXX assumes neutral exchange $XXX census to The foreign expected cost-reduction a the of million lower costs, impact on of
reflecting interest expected share and effective $X.XX in Adjusted tax from per a $X.XX, expense earnings range rate. to reductions to is lower
Our will our effective and allowance the benefit for valuation debt be lower we interest lower expect outstanding to rate, is XXXX expect to the a charge incur to average expected lower and from expense rate because we while tax tax repeat, less interest. nondeductible don't
our to Shifting XXXX cash flow.
We flow million $XXX expect will million, in million cash an from improvement XXXX. which operating that be $XXX is the our between and $XXX reported
and improvements capital lower We interest payments partially by payments. working will expect offset restructuring only higher in that be
to to million repatriate $XX XXXX. also the additional in expect We U.S. $XX to million an
million down expected in is are XXXX. from to $XX expenditures range $XX which to million $XXX Capital from million,
spend line capital more levels. with XXXX historical in is expected to Our spend be capital
nonrefundable third to XXXX related collect approximately We our facility. expect quarter million China the in also deposit to sale a of the of of $XX
recall, that provided may periodic for sell nonrefundable deposits us from -- you As to the buyer. agreement the to this facility
Our capital remain priorities unchanged. ongoing
As to including I've our portfolio potential to in and demonstrated our by business. business, opportunities investments both recent investments of past evaluate make acquisitions in the Solutions strategic Document we organic Global to as continuously expect our continue stated quarters, and optimize sale we
our first like wrap comment would performance for Before the quarter. I up, on I to expected
We year. to previous collectively down net dispositions, which sales due million of the sales $XX be XXXX, expect from net prior business reported primarily to in
business ongoing But in expected by quarters. which too China, the impacted mentioned early the how disruption disruption impact is will business impact relatively roughly it predict million to business is as this The revenue directly is estimated The this be quarter. first flat is to COVID-XX. $XX of earlier, with future I exception from
earnings Adjusted from to the the flat first to impact additional and after adjusted disruption. expected reductions XXXX share improved be COVID-XX is and the expected favorable prior cost earnings the slightly, rate tax Brazil, quarter. the perspective, year. in into loss also anticipate up operations from be From taking are consideration income reporting Interest per effective negative an to expense we to from the
let's operator, up line open now for And the questions.
