XML 42 R27.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
SendTech Solutions | $ | 320,155 |  |  | $ | 328,325 |  |  | $ | 647,592 |  |  | $ | 663,320 |
Presort Services | 146,858 |  |  | 143,107 |  |  | 316,665 |  |  | 302,009 |
Global Ecommerce | 326,157 |  |  | 305,049 |  |  | 659,422 |  |  | 645,690 |
Total revenue | $ | 793,170 |  |  | $ | 776,481 |  |  | $ | 1,623,679 |  |  | $ | 1,611,019 |
Schedule of Reconciliation of EBIT From Segments to Consolidated Statements |
| Adjusted Segment EBIT
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
SendTech Solutions | $ | 100,967 |  |  | $ | 96,848 |  |  | $ | 202,245 |  |  | $ | 192,485 |
Presort Services | 27,048 |  |  | 20,429 |  |  | 67,377 |  |  | 47,334 |
Global Ecommerce | (30,935) |  |  | (37,483) |  |  | (66,362) |  |  | (70,655) |
Total adjusted segment EBIT | 97,080 |  |  | 79,794 |  |  | 203,260 |  |  | 169,164 |
Reconciliation of adjusted segment EBIT to net income or loss: |  |  |  |  |  |
Interest expense, net | (44,732) |  |  | (37,683) |  |  | (89,101) |  |  | (74,561) |
Unallocated corporate expenses | (51,275) |  |  | (47,709) |  |  | (101,045) |  |  | (104,058) |
Restructuring charges | (31,843) |  |  | (22,443) |  |  | (36,158) |  |  | (26,042) |
Goodwill impairment | — |  |  | (118,599) |  |  | — |  |  | (118,599) |
Proxy solicitation fees | — |  |  | (4,538) |  |  | — |  |  | (10,905) |
Gain on debt redemption | — |  |  | 228 |  |  | — |  |  | 3,064 |
Foreign currency gain on intercompany loans | 712 |  |  | — |  |  | 5,350 |  |  | — |
CEO and Board transition costs | (2,631) |  |  | — |  |  | (2,631) |  |  | — |
Strategic review costs | (5,975) |  |  | — |  |  | (8,665) |  |  | — |
Benefit for income taxes | 13,797 |  |  | 9,415 |  |  | 1,238 |  |  | 12,665 |
Net loss | $ | (24,867) |  |  | $ | (141,535) |  |  | $ | (27,752) |  |  | $ | (149,272) |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration