Component: (Network and Table) | |
---|---|
Network | 100000 - Document - Document and Entity Information (http://www.dfsco.com/20171231/taxonomy/role/DocumentDocumentAndEntityInformation) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Document And Entity Information [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2018-02-23 | 2017-06-30 | |
Document And Entity Information [Abstract] | |||
Document Type | |||
Amendment Flag | |||
Document Period End Date | |||
Document Fiscal Year Focus | |||
Document Fiscal Period Focus | |||
Trading Symbol | |||
Entity Registrant Name | |||
Entity Central Index Key | |||
Current Fiscal Year End Date | |||
Entity Well-known Seasoned Issuer | |||
Entity Current Reporting Status | |||
Entity Voluntary Filers | |||
Entity Filer Category | |||
Entity Common Stock, Shares Outstanding | |||
Entity Public Float |
Component: (Network and Table) | |
---|---|
Network | 100010 - Statement - Consolidated and Combined Statements of Operations (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedAndCombinedStatementsOfOperations) |
Table | Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement [Line Items] | Period [Axis] | ||||||
---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2017-01-01 - 2017-06-30 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||
Related Party | Related Party | Related Party | Related Party | ||||
R.R. Donnelley Affiliates | Related Party | R.R. Donnelley Affiliates | R.R. Donnelley Affiliates | Related Party | R.R. Donnelley Affiliates | Related Party | |
Services net sales | |||||||
Products net sales | |||||||
Total net sales | |||||||
Services cost of sales (exclusive of depreciation and amortization) | |||||||
Products cost of sales (exclusive of depreciation and amortization) | |||||||
Total cost of sales | |||||||
Selling, general and administrative expenses (exclusive of depreciation and amortization) | |||||||
Restructuring, impairment and other charges-net | |||||||
Depreciation and amortization | |||||||
Income from operations | |||||||
Interest expense-net | |||||||
Investment and other income-net | ( | ( | |||||
Earnings before income taxes | |||||||
Income tax expense | |||||||
Net earnings | |||||||
Net earnings per share (Note 13): | |||||||
Basic net earnings per share | |||||||
Diluted net earnings per share | |||||||
Weighted average number to common shares outstanding | |||||||
Basic | |||||||
Diluted |
Component: (Network and Table) | |
---|---|
Network | 100020 - Statement - Consolidated and Combined Statements of Comprehensive Income (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedAndCombinedStatementsOfComprehensiveIncome) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement Of Income And Comprehensive Income [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net earnings | 9,700,000 | 59,100,000 | 104,300,000 |
Other comprehensive income (loss), net of tax: | |||
Translation adjustments | ( | ( | |
Adjustment for net periodic pension and other postretirement benefits plan cost | ( | ||
Other comprehensive income, net of tax | |||
Comprehensive income |
Component: (Network and Table) | |
---|---|
Network | 100030 - Statement - Consolidated Balance Sheets (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedBalanceSheets) |
Table | Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||
Related Party | Related Party | |||
R.R. Donnelley & Sons Company | Related Party | R.R. Donnelley & Sons Company | Related Party | |
ASSETS | ||||
Cash and cash equivalents | ||||
Receivables, less allowances for doubtful accounts of $7.3 in 2017 (2016 - $6.4) | ||||
Receivable from RR Donnelley | ||||
Inventories | ||||
Prepaid expenses and other current assets | ||||
Total current assets | ||||
Property, plant and equipment-net | ||||
Goodwill | ||||
Other intangible assets-net | ||||
Software-net | ||||
Deferred income taxes | ||||
Other noncurrent assets | ||||
Total assets | ||||
LIABILITIES | ||||
Accounts payable | ||||
Accrued liabilities | ||||
Total current liabilities | ||||
Long-term debt (Note 12) | ||||
Deferred compensation liabilities | ||||
Pension and other postretirement benefits plan liabilities | ||||
Other noncurrent liabilities | ||||
Total liabilities | ||||
Commitments and Contingencies (Note 9) | ||||
EQUITY | ||||
Preferred stock, $0.01 par value Authorized: 1.0 shares; Issued: None | ||||
Common stock, $0.01 par value Authorized: 65.0 shares; Issued: 33.8 shares in 2017 (2016 - 32.6 shares) | ||||
Treasury stock, at cost: less than 0.1 shares in 2017 | ( | |||
Additional paid-in-capital | ||||
Retained earnings (deficit) | ( | |||
Accumulated other comprehensive loss | ( | ( | ||
Total equity | ||||
Total liabilities and equity |
Component: (Network and Table) | |
---|---|
Network | 100040 - Statement - Consolidated Balance Sheets (Parenthetical) (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedBalanceSheetsParenthetical) |
Table | Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement [Line Items] | Period [Axis] | ||
---|---|---|---|
2017-12-31 | 2016-12-31 | ||
Range | Range | ||
Maximum | Range | Range | |
Receivables, allowance for doubtful accounts | |||
Preferred stock, par value | |||
Preferred stock, authorized | |||
Preferred stock, Issued | |||
Common stock, par value | |||
Common stock, Authorized | |||
Common stock, Issued | |||
Treasury stock, Shares |
Component: (Network and Table) | |
---|---|
Network | 100050 - Statement - Consolidated and Combined Statements of Cash Flows (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedAndCombinedStatementsOfCashFlows) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement Of Cash Flows [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Statement Of Cash Flows [Abstract] | |||
OPERATING ACTIVITIES | |||
Net earnings | 9,700,000 | 59,100,000 | 104,300,000 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation and amortization | 44,500,000 | 43,300,000 | 41,700,000 |
Provision for doubtful accounts receivable | |||
Share-based compensation | |||
Deferred income taxes | ( | ||
Changes in uncertain tax positions | ( | ||
Gain on investments and other assets - net | |||
Net pension and other postretirement benefits plan income | ( | ( | |
Other | |||
Changes in operating assets and liabilities - net of acquisitions: | |||
Accounts receivable - net | ( | ( | |
Inventories | ( | ||
Prepaid expenses and other current assets | ( | ( | |
Accounts payable | ( | ||
Income taxes payable and receivable | ( | ( | |
Accrued liabilities and other | ( | ||
Pension and other postretirement benefits plan contributions | ( | ( | |
Net cash provided by operating activities | |||
INVESTING ACTIVITIES | |||
Capital expenditures | ( | ( | ( |
Purchases of investments | ( | ( | ( |
Other investing activities | |||
Net cash used in investing activities | ( | ( | ( |
FINANCING ACTIVITIES | |||
Revolving facility borrowings | |||
Payments on revolving facility borrowings | ( | ||
Payments on long-term debt | ( | ( | |
Debt issuance costs | ( | ( | |
Separation-related payment from R.R. Donnelley | |||
Proceeds from issuance of common stock | |||
Proceeds from issuance of long-term debt | |||
Net change in short-term debt | ( | ( | |
Payments on note payable with an R.R. Donnelley affiliate | ( | ||
Net transfers to Parent and affiliates | ( | ( | |
Treasury stock repurchases | ( | ||
Other financing activities | |||
Net cash used in financing activities | ( | ( | ( |
Effect of exchange rate on cash and cash equivalents | ( | ||
Net increase (decrease) in cash and cash equivalents | ( | ||
Cash and cash equivalents at beginning of year | 36,200,000 | ||
Cash and cash equivalents at end of period | 52,000,000 | 36,200,000 | 15,100,000 |
Supplemental non-cash disclosure: | |||
Debt exchange with R.R. Donnelley, including $5.5 million of debt issuance costs | |||
Settlement of intercompany note payable | |||
Accrued debt issuance costs |
Component: (Network and Table) | |
---|---|
Network | 100060 - Statement - Consolidated and Combined Statements of Cash Flows (Parenthetical) (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedAndCombinedStatementsOfCashFlowsParenthetical) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement Of Cash Flows [Abstract] | Period [Axis] | |
---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | |
Statement Of Cash Flows [Abstract] | ||
Debt issuance costs |
Component: (Network and Table) | |
---|---|
Network | 100070 - Statement - Consolidated and Combined Statements of Equity (http://www.dfsco.com/20171231/taxonomy/role/StatementConsolidatedAndCombinedStatementsOfEquity) |
Table | Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement [Line Items] | Period [Axis] | ||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |||||||||||||||||||||||||||||||||
Equity Components | Equity Components | Equity Components | |||||||||||||||||||||||||||||||||
Common Stock | Treasury Stock | Additional Paid-in-Capital | Net Parent Company Investment | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Loss | Equity Component | Common Stock | Treasury Stock | Additional Paid-in-Capital | Net Parent Company Investment | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Loss | Equity Component | Common Stock | Treasury Stock | Additional Paid-in-Capital | Net Parent Company Investment | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Loss | Equity Component | |||||||||||||||
Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | |||||||||||||||
Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | R.R. Donnelley & Sons Company | Related Party Transaction | |
Balance | ( | ( | 111,100,000 | ( | ( | ||||||||||||||||||||||||||||||
Balance (in shares) | 32,600,000 | ||||||||||||||||||||||||||||||||||
Net earnings | 9,700,000 | ( | 59,100,000 | 104,300,000 | |||||||||||||||||||||||||||||||
Net transfers to R.R. Donnelley | ( | ( | ( | ( | |||||||||||||||||||||||||||||||
Net transfer of pension plan to R.R. Donnelley | ( | ||||||||||||||||||||||||||||||||||
Separation-related adjustments | ( | ||||||||||||||||||||||||||||||||||
Reclassification of net parent company investment in connection with the Separation | ( | ||||||||||||||||||||||||||||||||||
Issuance of common stock upon separation | |||||||||||||||||||||||||||||||||||
Issuance of common stock upon separation (in shares) | |||||||||||||||||||||||||||||||||||
Issuance of additional common shares | |||||||||||||||||||||||||||||||||||
Issuance of additional common shares (in shares) | |||||||||||||||||||||||||||||||||||
Share-based compensation | |||||||||||||||||||||||||||||||||||
Issuance of share-based awards, net of withholdings and other | ( | ( | |||||||||||||||||||||||||||||||||
Issuance of share-based awards, net of withholdings and other (in shares) | |||||||||||||||||||||||||||||||||||
Other comprehensive income | 3,700,000 | 7,000,000 | 20,000,000 | ||||||||||||||||||||||||||||||||
Balance | ( | ( | 149,400,000 | 300,000 | 0 | 179,900,000 | 0 | (800,000) | (68,300,000) | 111,100,000 | 0 | 0 | 0 | 639,500,000 | 0 | (16,000,000) | 623,500,000 | ||||||||||||||||||
Balance (in shares) | 33,800,000 | 32,600,000 | 0 | 32,600,000 |
Component: (Network and Table) | |
---|---|
Network | 100080 - Disclosure - Overview and Basis of Presentation (http://www.dfsco.com/20171231/taxonomy/role/DisclosureOverviewAndBasisOfPresentation) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accounting Policies [Abstract] | Period [Axis] |
---|---|
2017-01-01 - 2017-12-31 | |
Accounting Policies [Abstract] | |
Overview and Basis of Presentation | Note 1. Overview and Basis of Presentation Description of Business Donnelley Financial Solutions, Inc. (the “Company” or “Donnelley Financial” ) is a financial communications services company that supports global capital markets compliance and transaction needs for its corporate clients and their advisors (such as law firms and investment bankers) and global investment markets compliance and analytics needs for mutual fund companies, variable annuity providers and broker/dealers. With proprietary technology such as data storage and workflow collaboration tools, deep subject matter expertise and a global footprint, Donnelley Financial produces, manages, stores, distributes, and translates documents and electronic communications in order to deliver timely financial communications to investors and documents in a manner that complies with regulatory commissions. Donnelley Financial’s Registration Statement on Form 10, as amended, was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 20, 2016. On October 1, 2016, Donnelley Financial became an independent publicly traded company through the distribution by R.R. Donnelley & Sons Company (“RRD”) of approximately 26.2 million shares, or 80.75%, of Donnelley Financial common stock to RRD shareholders (the “Separation”). Holders of RRD common stock received one share of Donnelley Financial common stock for every eight shares of RRD common stock held on September 23, 2016. As part of the Separation, RRD retained approximately 6.2 million shares of Donnelley Financial common stock, or a 19.25% interest in Donnelley Financial. Donnelley Financial’s common stock began regular-way trading under the ticker symbol “DFIN” on the New York Stock Exchange on October 3, 2016. On October 1, 2016, RRD also completed the previously announced separation of LSC Communications, Inc. (“LSC”), its publishing and retail-centric print services and office products business. On March 28, 2017, RRD completed the sale of 6.2 million shares of LSC common stock (RRD’s remaining ownership stake in LSC) in an underwritten public offering. As a result, beginning in the quarter ended June 30, 2017, LSC no longer qualified as a related party of the Company. On March 24, 2017, pursuant to the Stockholder and Registration Rights Agreement, dated as of September 30, 2016, by and between the Company and RRD, the Company filed a Registration Statement on Form S-1 to register the offering and sale of shares of the Company’s common stock retained by RRD. The Registration Statement on Form S-1, as amended, was declared effective by the SEC on June 13, 2017. On June 21, 2017, RRD completed the sale of approximately 6.1 million shares of the Company’s common stock in an underwritten public offering. Upon the consummation of the offering, RRD retained approximately 0.1 million shares of the Company’s common stock which were subsequently sold by RRD on August 4, 2017. In conjunction with the underwritten public offering, the underwriters exercised their option to purchase approximately 0.9 million of the Company’s shares (the “Option Shares”). The Company received approximately $18.8 million in net proceeds from the sale of the Option Shares, after deducting estimated underwriting discounts and commissions. The proceeds were used to reduce outstanding debt under the Revolving Facility (as defined in Note 12, Debt). Beginning in the quarter ended September 30, 2017, RRD no longer qualified as a related party, therefore amounts disclosed related to RRD are presented through June 30, 2017 only. On September 14, 2016, the Company and LSC entered into a Separation and Distribution Agreement with RRD to effect the distribution of the Company’s and LSC’s common stock to RRD’s common stockholders (the “Separation and Distribution Agreement”). This agreement governs the Company’s relationship with RRD and LSC with respect to pre-Separation matters and provides for the allocation of employee benefit, litigation and other liabilities and obligations attributable to periods prior to the Separation. The Separation and Distribution Agreement also includes an agreement that the Company, RRD and LSC will provide each other with appropriate indemnities with respect to liabilities arising out of the businesses being distributed and retained by RRD in the Separation. The Separation and Distribution Agreement also addresses employee compensation and benefit matters. In connection with the Separation, the Company entered into transition services agreements separately with RRD and LSC, under which, in exchange for the fees specified in the arrangements, RRD and LSC agree to provide certain services to the Company and the Company agrees to provide certain services to RRD, respectively, for up to 24 months following the Separation. These services include, but are not limited to, information technology, accounts receivable, accounts payable, payroll and other financial and administrative services and functions. These agreements facilitate the separation by allowing the Company to operate independently prior to establishing stand-alone back office systems across its organization. At the time of the Separation, the Company entered into a number of commercial and other arrangements with RRD and its subsidiaries. These include, among other things, arrangements for the provision of services, including global outsourcing and logistics services, printing and binding, digital printing, composition, premedia and access to technology. The terms of the arrangements with RRD do not exceed 36 months. Subsequent to the Separation, RRD and LSC are clients of the Company and expect to utilize financial communication software and services that the Company makes available to all of its clients. Basis of Presentation The accompanying consolidated and combined financial statements reflect the consolidated financial position and consolidated results of operations of the Company as an independent, publicly traded company for the periods after the Separation and the combined results of operations for the periods prior to the Separation. Prior to the Separation, the combined financial statements were prepared on a stand-alone basis and were derived from RRD’s consolidated financial statements and accounting records. The consolidated and combined financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and in accordance with the rules and regulations of the SEC. For periods prior to the Separation, the consolidated and combined financial statements include the allocation of certain assets and liabilities that were historically held at the RRD corporate level but which were specifically identifiable or attributable to the Company. Cash and cash equivalents held by RRD were not allocated to Donnelley Financial unless they were held in a legal entity that was transferred to Donnelley Financial. All intercompany transactions and accounts within Donnelley Financial have been eliminated. All intracompany transactions between RRD and Donnelley Financial are considered to be effectively settled in the consolidated and combined financial statements at the time the transaction is recorded. The total net effect of the settlement of these intracompany transactions is reflected in the consolidated and combined statements of cash flows as a financing activity and in the consolidated and combined statements of equity as net parent company investment. Net parent company investment is primarily impacted by contributions from RRD which are the result of treasury activities and net funding provided by or distributed to RRD. Prior to the Separation, the consolidated and combined financial statements include certain expenses of RRD which were allocated to Donnelley Financial for certain functions, including general corporate expenses related to information technology, finance, legal, human resources, internal audit, treasury, tax, investor relations and executive oversight. These expenses were allocated to the Company on the basis of direct usage, when available, with the remainder allocated on the pro rata basis of revenue, employee headcount, or other measures. We consider the expense methodology and results to be reasonable for all periods presented. However these allocations may not be indicative of the actual expenses that would have been incurred as an independent public company or the costs that may be incurred in the future. For periods prior to the Separation, the income tax amounts in the consolidated and combined financial statements were calculated based on a separate income tax return methodology and presented as if the Company’s operations were separate taxpayers in the respective jurisdictions. RRD maintained various benefit and share-based compensation plans at a corporate level. Donnelley Financial employees participated in those programs and a portion of the cost of those plans is included in Donnelley Financial’s consolidated and combined financial statements for periods prior to the Separation. On October 1, 2016, Donnelley Financial recorded net pension plan liabilities of $68.3 million (consisting of a total benefit plan liability of $317.0 million, net of plan assets having fair market value of $248.7 million), as a result of the transfer of certain pension plan liabilities and assets from RRD to the Company upon the legal split of those plans. The pension plan asset allocation from RRD was finalized on June 30, 2017, which resulted in a $0.7 million decrease to the fair value of plan assets transferred to the Company from RRD. The Company also recorded a net other postretirement benefit liability of $1.5 million, as a result of the transfer of an other postretirement benefit plan from RRD to the Company. Refer to Note 10, Retirement Plans, for further details regarding the Company’s pension and other postretirement benefit plans. Donnelley Financial generates a portion of net revenue from sales to RRD’s subsidiaries. Included in the consolidated and combined financial statements are net revenues from sales to RRD and affiliates of $8.3 million for the six months ended June 30, 2017 and $19.4 million and $7.8 million for the years ended December 31, 2016 and 2015, respectively. Donnelley Financial utilizes RRD for freight and logistics, production of certain printed products and outsourced business services functions. Included in the consolidated and combined financial statements are cost of sales to RRD and affiliates of $51.8 million for the six months ended June 30, 2017 and $95.7 million and $108.7 million for the years ended December 31, 2016 and 2015, respectively. See Note 19, Related Parties, for a further description of related party transactions. |
Component: (Network and Table) | |
---|---|
Network | 100090 - Disclosure - Significant Accounting Policies (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSignificantAccountingPolicies) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accounting Policies [Abstract] | Period [Axis] |
---|---|
2017-01-01 - 2017-12-31 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 2. Significant Accounting Policies Use of Estimates —The preparation of consolidated and combined financial statements, in conformity with GAAP, requires the extensive use of management’s estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from these estimates. Estimates are used when accounting for items and matters including, but not limited to, allowance for uncollectible accounts receivable, inventory obsolescence, asset valuations and useful lives, employee benefits, taxes, restructuring and other provisions and contingencies. Foreign Operations —Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the exchange rates existing at the respective balance sheet dates. Income and expense items are translated at the average rates during the respective periods. Translation adjustments resulting from fluctuations in exchange rates are recorded as a separate component of other comprehensive income (loss) while transaction gains and losses are recorded in net earnings. Deferred taxes are not provided on cumulative foreign currency translation adjustments when the Company expects foreign earnings to be indefinitely reinvested. Fair Value Measurements—Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company records the fair value of its pension plan assets on a recurring basis. See Note 10, Retirement Plans, for the fair value of the Company’s pension plan assets as of December 31, 2017. In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record certain assets and liabilities at fair value on a nonrecurring basis, generally as a result of acquisitions or the remeasurement of assets resulting in impairment charges. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used, long-lived assets held for sale, goodwill and other intangible assets. The fair value of cash and cash equivalents, accounts receivable, short-term debt and accounts payable approximate their carrying values. The three-tier value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. Revenue Recognition — The Company files highly-customized materials, such as regulatory S-filings and IPOs with the SEC on behalf of its customers, and performs XBRL and related services. Revenue is recognized for these services upon completion of the service performed or following final delivery of the related printed product. The Company also provides virtual data room services and other content management services, for which revenue is recognized as the service is performed. The Company recognizes revenue for the majority of its products upon the transfer of title and risk of ownership, which is generally upon shipment to the customer. Because substantially all of the Company’s products are customized, product returns are not significant; however, the Company accrues for the estimated amount of customer credits at the time of sale. The Company records deferred revenue in situations where amounts are invoiced but the revenue recognition criteria outlined above are not met. Such revenue is recognized when all criteria are subsequently met. Certain revenues earned by the Company require judgment to determine if revenue should be recorded gross, as a principal, or net of related costs, as an agent. Billings for shipping and handling costs as well as certain postage costs, and out-of-pocket expenses are recorded gross. The Company’s printing operations process paper that may be supplied directly by customers or may be purchased by the Company and sold to customers. No revenue is recognized for customer-supplied paper, but revenues for Company-supplied paper are recognized on a gross basis. Refer to Note 20, New Accounting Pronouncements, for a discussion of the expected impact of the 2018 adoption of Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). Cash and cash equivalents —The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Short-term securities consist of investment grade instruments of governments, financial institutions and corporations. Receivables— Receivables are stated net of allowances for doubtful accounts and primarily include trade receivables, notes receivable and miscellaneous receivables from suppliers. No single customer comprised more than 10% of the Company’s net sales in 2017, 2016 or 2015. Specific customer provisions are made when a review of significant outstanding amounts, utilizing information about customer creditworthiness and current economic trends, indicates that collection is doubtful. In addition, provisions are made at differing rates, based upon the age of the receivable and the Company’s historical collection experience. See Note 5, Accounts Receivable, for details of activity affecting the allowance for doubtful accounts receivable. Inventories —Inventories include material, labor and factory overhead and are stated at the lower of cost or market and net of excess and obsolescence reserves for raw materials and finished goods. Provisions for excess and obsolete inventories are made at differing rates, utilizing historical data and current economic trends, based upon the age and type of the inventory. Specific excess and obsolescence provisions are also made when a review of specific balances indicates that the inventories will not be utilized in production or sold. Inventory is valued using the First-In, First-Out (FIFO) method. Long-Lived Assets —The Company assesses potential impairments to its long-lived assets if events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Indefinite-lived intangible assets are reviewed annually for impairment or more frequently if events or changes in circumstances indicate that the carrying value may not be recoverable. An impaired asset is written down to its estimated fair value based upon the most recent information available. Estimated fair market value is generally measured by discounting estimated future cash flows. Long-lived assets, other than goodwill, are recorded at the lower of the carrying value or the fair market value less the estimated cost to sell. Property, plant and equipment —Property, plant and equipment are recorded at cost and depreciated on a straight-line basis over their estimated useful lives. Useful lives range from 15 to 40 years for buildings, the lesser of 7 years or the lease term for leasehold improvements and from 3 to 15 years for machinery and equipment. Maintenance and repair costs are charged to expense as incurred. Major overhauls that extend the useful lives of existing assets are capitalized. When properties are retired or disposed, the costs and accumulated depreciation are eliminated and the resulting profit or loss is recognized in the results of operations. Goodwill —Goodwill is either assigned to a specific reporting unit or allocated between reporting units based on the relative fair value of each reporting unit. The Company's goodwill balances were reallocated from RRD’s historical reporting units based on the relative fair values of the businesses. Goodwill is reviewed for impairment annually as of October 31 or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is below its carrying amount. For certain reporting units, the Company may perform a qualitative, rather than quantitative, assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In performing this qualitative analysis, the Company considers various factors, including the excess of prior year estimates of fair value compared to carrying value, the effect of market or industry changes and the reporting units’ actual results compared to projected results. Based on this qualitative analysis, if management determines that it is more likely than not that the fair value of the reporting unit is greater than its carrying value, no further impairment testing is performed. For the remaining reporting units, the Company compares each reporting unit’s fair value, estimated based on comparable company market valuations and expected future discounted cash flows to be generated by the reporting unit, to its carrying amount. If the carrying amount exceeds the reporting unit’s fair value, the Company will recognize an impairment loss for the amount by which the carrying amount exceeds the fair value. The Company also performs an interim review for indicators of impairment at each quarter-end to assess whether an interim impairment review is required for any reporting unit. In the Company’s annual review at October 31, 2017, and its interim review for indicators of impairment as of December 31, 2017, management concluded that there were no indicators that the fair value of any of the reporting units with goodwill was more likely than not below its carrying amount. Amortization — Certain costs to acquire and develop internal-use computer software are capitalized and amortized over their estimated useful life using the straight-line method, up to a maximum of three years. Amortization expense related to internally-developed software, excluding amortization expense related to other intangible assets, was $22.5 million, $20.5 million and $17.2 million for the years ended December 31, 2017, 2016 and 2015, respectively. Other intangible assets are recognized separately from goodwill and are amortized over their estimated useful lives. See Note 4, Goodwill and Other Intangible Assets, for further discussion of other intangible assets and the related amortization expense. Share-Based Compensation — In periods prior to the Separation, RRD maintained an incentive share-based compensation program for the benefit of its officers, directors, and certain employees, including certain Donnelley Financial employees. For those periods share-based compensation expense has been allocated to the Company based on the awards and terms previously granted to the Company’s employees as well as an allocation of compensation expense to RRD’s corporate and shared functional employees. Subsequent to the Separation, the Company recognizes share-based compensation expense based on estimated fair values for all share-based awards made to employees and directors, including restricted stock and restricted stock units. The Company recognizes compensation expense for restricted stock units expected to vest on a straight-line basis over the requisite service period of the award, based on the grant date fair value. The Company recognizes compensation expense for performance based restricted stock awards utlizing a graded vesting schedule. See Note 14, Share-Based Compensation, for further discussion. Pension and Other Postretirement Benefit Plans — Prior to the Separation, RRD provided pension and other postretirement healthcare benefits to certain current and former employees of Donnelley Financial. Donnelley Financial’s consolidated and combined statements of operations include expense allocations for these benefits. These allocations were funded through intercompany transactions with RRD which are reflected within net parent company investment in Donnelley Financial. On October 1, 2016, Donnelley Financial recorded net pension plan liabilities of $68.3 million (consisting of a total benefit plan liability of $317.0 million, net of plan assets having fair market value of $248.7 million), as a result of the transfer of certain pension plan liabilities and assets from RRD to the Company upon the legal split of those plans. The pension plan asset allocation from RRD was finalized on June 30, 2017, which resulted in a $0.7 million decrease to the fair value of plan assets transferred to the Company from RRD. The Company also recorded a net other postretirement benefit liability of $1.5 million, as a result of the transfer of an other postretirement benefit plan from RRD to the Company. Donnelley Financial engages outside actuaries to assist in the determination of the obligations and costs under these plans. The annual income and expense amounts relating to the pension plan are based on calculations which include various actuarial assumptions including, mortality expectations, discount rates and expected long-term rates of return. The Company reviews its actuarial assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so. The effects of modifications on the value of plan obligations and assets is recognized immediately within other comprehensive income (loss) and amortized into operating earnings over future periods. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience, market conditions and input from its actuaries and investment advisors. Refer to Note 10, Retirement Plans, for further discussion. Taxes on Income - In the Company’s combined financial statements prior to Separation, income tax expense and deferred tax balances were calculated on a separate income tax return basis although the Company’s operations have historically been included in the tax returns filed by the respective RRD entities of which the Company’s business was a part. As a standalone entity, the Company will file tax returns on its own behalf and its deferred taxes and effective tax rate may differ from those in historical periods. Deferred taxes are provided using an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company maintains an income taxes payable or receivable account in each jurisdiction and, with the exception of certain entities outside the U.S. that transferred to the Company at Separation, the Company is deemed to settle current tax balances with the RRD tax paying entities in the respective jurisdictions. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. The Company is regularly audited by foreign and domestic tax authorities. These audits occasionally result in proposed assessments where the ultimate resolution might result in the Company owing additional taxes, including in some cases, penalties and interest. The Company recognizes a tax position in its financial statements when it is more likely than not (i.e., a likelihood of more than fifty percent) that the position would be sustained upon examination by tax authorities. This recognized tax position is then measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Although management believes that its estimates are reasonable, the final outcome of uncertain tax positions may be materially different from that which is reflected in the Company’s financial statements. The Company adjusts such reserves upon changes in circumstances that would cause a change to the estimate of the ultimate liability, upon effective settlement or upon the expiration of the statute of limitations, in the period in which such event occurs. See Note 11, Income Taxes, for further discussion. |
Component: (Network and Table) | |
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Network | 100100 - Disclosure - Restructuring, Impairment and Other Charges (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRestructuringImpairmentAndOtherCharges) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Restructuring And Related Activities [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, Impairment and Other Charges | Note 3. Restructuring, Impairment and Other Charges Restructuring, Impairment and Other Charges recognized in Results of Operations
Restructuring Charges For the year ended December 31, 2017, the Company recorded net restructuring charges of $6.4 million for employee termination costs for 192 employees, substantially all of whom were terminated as of December 31, 2017. These charges primarily related to the reorganization of certain operations and certain administrative functions. During the year ended December 31, 2017, the Company also incurred $0.3 million of net lease termination and other restructuring costs, $0.2 million of net impairment charges related to leasehold improvements associated with facility closures and $0.2 million for other charges associated with the Company’s decision to withdraw in 2013 from certain-multi-employer pension plans serving facilities that continued to operate.
Restructuring Charges For the year ended December 31, 2016, the Company recorded net restructuring charges of $3.7 million for employee termination costs for 84 employees, all of whom were terminated as of December 31, 2017. These charges primarily related to the reorganization of certain administrative functions. Additionally, the Company incurred lease termination and other restructuring charges of $1.5 million for the year ended December 31, 2016.
Restructuring and Impairment Charges For the year ended December 31, 2015, the Company recorded net restructuring charges of $2.3 million for employee termination costs for 64 employees, all of whom were terminated as of December 31, 2017. These charges primarily related to the reorganization of certain administrative functions. Additionally, the Company incurred lease termination and other restructuring charges of $1.9 million for the year ended December 31, 2015.
Restructuring Reserve The restructuring reserve as of December 31, 2017 and 2016, and changes during the year ended December 31, 2017, were as follows:
The current portion of restructuring reserves of $2.7 million at December 31, 2017 was included in accrued liabilities, while the long-term portion of $0.7 million, primarily related to lease termination costs, was included in other noncurrent liabilities at December 31, 2017. The Company anticipates that payments associated with the employee terminations reflected in the above table will be substantially completed by June 30, 2018. The restructuring liabilities classified as “lease terminations and other” consisted of lease terminations, other facility closing costs and contract termination costs. Payments on certain of the lease obligations are scheduled to continue until 2021. Market conditions and the Company’s ability to sublease these properties could affect the ultimate charges related to the lease obligations. Any potential recoveries or additional charges could affect amounts reported in the Company’s financial statements. “Reversals” primarily relate to the reversal of previously recognized lease termination costs associated with a facility that the Company began using during the third quarter of 2017. The restructuring reserve as of December 31, 2016 and 2015, and changes during the year ended December 31, 2016, were as follows:
The current portion of restructuring reserves of $3.7 million at December 31, 2016 was included in accrued liabilities, while the long-term portion of $1.7 million, primarily related to lease termination costs, was included in other noncurrent liabilities at December 31, 2016. |
Component: (Network and Table) | |
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Network | 100110 - Disclosure - Goodwill and Other Intangible Assets (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGoodwillAndOtherIntangibleAssets) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Goodwill And Intangible Assets Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | Note 4. Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for the years ended December 31, 2017 and 2016 were as follows:
The components of other intangible assets at December 31, 2017 and 2016 were as follows:
Amortization expense for other intangible assets was $15.0 million, $14.4 million and $15.4 million for the years ended December 31, 2017, 2016 and 2015, respectively. The following table outlines the estimated annual amortization expense related to other intangible assets as of December 31, 2017:
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Component: (Network and Table) | |
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Network | 100120 - Disclosure - Accounts Receivable (http://www.dfsco.com/20171231/taxonomy/role/DisclosureAccountsReceivable) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Receivables [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable | Note 5. Accounts Receivable Transactions affecting the allowances for doubtful accounts receivable during the years ended December 31, 2017, 2016 and 2015 were as follows:
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Component: (Network and Table) | |
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Network | 100130 - Disclosure - Inventories (http://www.dfsco.com/20171231/taxonomy/role/DisclosureInventories) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Inventory Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Inventories | Note 6. Inventories The components of the Company’s inventories, net of excess and obsolescence reserves for raw materials and finished goods, at December 31, 2017 and 2016 were as follows:
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Component: (Network and Table) | |
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Network | 100140 - Disclosure - Property, Plant and Equipment (http://www.dfsco.com/20171231/taxonomy/role/DisclosurePropertyPlantAndEquipment) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Property Plant And Equipment [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property Plant And Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment | Note 7. Property, Plant and Equipment The components of the Company’s property, plant and equipment at December 31, 2017 and 2016 were as follows:
During the years ended December 31, 2017, 2016 and 2015, depreciation expense was $7.0 million, $8.4 million and $9.1 million, respectively.
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Component: (Network and Table) | |
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Network | 100150 - Disclosure - Accrued Liabilities (http://www.dfsco.com/20171231/taxonomy/role/DisclosureAccruedLiabilities) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accrued Liabilities Current [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities Current [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities | Note 8. Accrued Liabilities
The components of the Company’s accrued liabilities at December 31, 2017 and 2016 were as follows:
Employee-related liabilities consist primarily of sales commission, incentive compensation, employee benefit accruals and payroll. Customer-related liabilities consist primarily of deferred revenue and progress billings and volume discount accruals. Other accrued liabilities include miscellaneous operating accruals and income and other tax liabilities. |
Component: (Network and Table) | |
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Network | 100160 - Disclosure - Commitments and Contingencies (http://www.dfsco.com/20171231/taxonomy/role/DisclosureCommitmentsAndContingencies) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Commitments And Contingencies Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Commitments and Contingencies | Note 9. Commitments and Contingencies As of December 31, 2017, the Company had commitments of approximately $5.3 million for the purchase of property, plant and equipment related to incomplete projects. In addition, as of December 31, 2017, the Company had commitments of approximately $34.1 million for outsourced services, professional, maintenance and other services. The Company also has contractual commitments of $1.3 million for severance payments related to employee restructuring activities. Future minimum rental commitments under operating leases are as follows:
The Company has operating lease commitments, including those for vacated facilities, totaling $100.4 million extending through various periods to 2026. Lease terms for some locations provide for rent escalations and renewal options, with some leases requiring payment for taxes, insurance and maintenance. Escalation terms and renewal options vary by market and lease. Future rental commitments for leases have not been reduced by minimum non-cancelable sublease rentals aggregating approximately $31.9 million. The Company remains secondarily liable under these leases in the event that the sub-lessee defaults under the sublease terms. The Company does not believe that material payments will be required as a result of the secondary liability provisions of the primary lease agreements. Rent expense for facilities in use and equipment was $27.4 million, $23.8 million and $22.2 million for the years ended December 31, 2017, 2016 and 2015, respectively. Rent expense for vacated facilities was recognized as restructuring, impairment and other charges. See Note 3, Restructuring, Impairment and Other Charges, for further details. Litigation From time to time, the Company’s customers and others file voluntary petitions for reorganization under United States bankruptcy laws. In such cases, certain pre-petition payments received by the Company from these parties could be considered preference items and subject to return. In addition, the Company may be party to certain litigation arising in the ordinary course of business. Management believes that the final resolution of these preference items and litigation will not have a material effect on the Company’s consolidated results of operations, financial position or cash flows. |
Component: (Network and Table) | |
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Network | 100170 - Disclosure - Retirement Plans (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlans) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Compensation And Retirement Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Plans | Note 10. Retirement Plans Donnelley Financial’s Participation in RRD’s Pension and Postretirement Benefit Plans RRD provided pension and other postretirement healthcare benefits to certain current and former employees of Donnelley Financial. Donnelley Financial’s consolidated and combined statements of operations include expense allocations for these benefits. These allocations were funded through intercompany transactions with RRD which are reflected within net parent company investment in Donnelley Financial. Total RRD pension and postretirement benefit plan net income allocated to Donnelley Financial, related to pension cost and postretirement benefits was $4.2 million and $3.7 million in the years ended December 31, 2016 and 2015, respectively. Included in these amounts is an allocation for other postretirement benefit plans for $1.0 million and $1.9 million in the years ended December 31, 2016 and 2015, respectively. These allocations are reflected in the Company’s selling, general and administrative expenses. Donnelley Financial’s Pension and Postretirement Benefit Plans On October 1, 2016, Donnelley Financial recorded net pension plan liabilities of $68.3 million (consisting of a total benefit plan liability of $317.0 million, net of plan assets having fair market value of $248.7 million), as a result of the transfer of certain pension plan liabilities and assets from RRD to the Company upon the legal split of those plans. The pension plan asset allocation from RRD was finalized on June 30, 2017, which resulted in a $0.7 million decrease to the fair value of plan assets transferred to the Company from RRD. The Company also recorded a net other postretirement benefit liability of $1.5 million, as a result of the transfer of an other postretirement benefit plan from RRD to the Company. The Company’s primary defined benefit plan is frozen. No new employees are permitted to enter the Company’s frozen plan and participants will earn no additional benefits. Benefits are generally based upon years of service and compensation. These defined benefit retirement income plans are funded in conformity with the applicable government regulations. The Company funds at least the minimum amount required for all funded plans using actuarial cost methods and assumptions acceptable under government regulations. The annual income and expense amounts relating to the pension plan are based on calculations which include various actuarial assumptions including, mortality expectations, discount rates and expected long-term rates of return. The Company reviews its actuarial assumptions on an annual basis as of December 31 (or more frequently if a significant event requiring remeasurement occurs) and modifies the assumptions based on current rates and trends when it is appropriate to do so. The effects of modifications are recognized immediately on the consolidated balance sheets, but are amortized into operating earnings over future periods, with the deferred amount recorded in accumulated other comprehensive loss. Total pension income was $3.3 million, $1.0 million and $27.0 million in 2017, 2016 and 2015, respectively, of which $25.2 million was allocated in 2015 to RRD and RRD related parties. During the year ended December 31, 2014, the Company adopted the Society of Actuaries RP-2014 mortality tables which were used in the calculation of the Company’s U.S. pension obligations. The new mortality tables increased the expected life of plan participants, extending the length of time that payments may be required and increasing the plans’ total expected benefit payments. During the years ended December 31, 2016, and December 31, 2017, the Company adopted updates to the Society of Actuaries RP-2014 mortality tables. The 2016 and 2017 mortality table updates both resulted in a partial reversal of the 2014 increases in the expected life of plan participants and benefit obligations. The Company made cash contributions of $2.1 million and $0.1 million to its pension and other postretirement benefit plans, respectively, during the year ended December 31, 2017. The Company expects to make cash contributions of approximately $2.3 million and $0.1 million to its pension and other postretirement benefit plans, respectively, in 2018. The pension plan obligations are calculated using generally accepted actuarial methods and are measured as of December 31. Actuarial gains and losses for frozen plans are amortized using the corridor method over the average remaining expected life of active plan participants. The components of the estimated net pension plan income for Donnelley Financial’s pension plans for the years ended December 31, 2017, 2016 and 2015 were as follows:
Reconciliation of funded status
The accumulated benefit obligation for all defined benefit pension and other postretirement benefit plans was $311.1 million and $294.5 million at December 31, 2017 and 2016, respectively.
The amounts included in accumulated other comprehensive loss in the Consolidated Balance Sheets excluding tax effects, that have not been recognized as components of net periodic cost at December 31, 2017 and 2016 were as follows:
The pre-tax amounts recognized in other comprehensive income (loss) in 2017 as components of net periodic costs were as follows:
Actuarial gains and losses in excess of 10.0% of the greater of the projected benefit obligation or the market-related value of plan assets were recognized as a component of net periodic benefit costs over the average remaining service period of a plan’s active employees. As a result of the plan freezes, the actuarial gains and losses are recognized as a component of net periodic benefit costs over the average remaining life of a plan’s active employees. The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit costs in 2018 are shown below:
The weighted average assumptions used to determine the benefit obligation at the measurement date were as follows:
The following table provides a summary of under-funded or unfunded pension benefit plans with projected benefit obligations in excess of plan assets as of December 31, 2017 and 2016:
As discussed above, the Company’s defined benefit plan is frozen and no new employees are permitted to enter the plan. Participants do not earn additional service benefits. Consequently the projected benefit obligation and accumulated benefit obligation are the same amounts.
Benefit payments are expected to be paid as follows:
Plan Assets The Company’s U.S. pension plans are frozen and the Company has a risk management approach for its U.S. pension plan assets. The overall investment objective of this approach is to reduce the risk of significant decreases in the plan’s funded status by allocating a larger portion of the plan’s assets to investments expected to hedge the impact of interest rate risks on the plan’s obligation. The expected long-term rate of return for plan assets is based upon many factors including asset allocations, historical asset returns, current and expected future market conditions, risk and active management premiums. The target asset allocation percentage as of December 31, 2017, for the primary U.S. pension plan was approximately 60.0% for return seeking investments and approximately 40.0% for fixed income investments. The Company segregated its plan assets by the following major categories and levels for determining their fair value as of 2017: Cash and cash equivalents— Carrying value approximates fair value. As such, these assets were classified as Level 1. The Company also invests in certain short-term investments which are valued using the amortized cost method. As such, these assets were classified as Level 2. Equity— The values of individual equity securities were based on quoted prices in active markets. As such, these assets are classified as Level 1. Fixed income— Fixed income securities are typically priced based on a valuation model rather than a last trade basis and are not exchange-traded. These valuation models involve utilizing dealer quotes, analyzing market information, estimating prepayment speeds and evaluating underlying collateral. Accordingly, the Company classified these fixed income securities as Level 2. Fixed income securities also include investments in various asset-backed securities that are part of a government sponsored program. The prices of these asset-backed securities were obtained by independent third parties using multi-dimensional, collateral specific prepayments tables. Inputs include monthly payment information and collateral performance. As the values of these assets was determined based on models incorporating observable inputs, these assets were classified as Level 2. The Company invests in certain equity funds that are valued at calculated net asset value per share (“NAV”), but are not quoted on active markets. The Company believes that the NAV is representative of fair value at the reporting date, as there are no significant restrictions on redemption of these investments or other reasons to indicate that the investment would be redeemed at an amount different than the NAV. For Level 2 plan assets, management reviews significant investments on a quarterly basis including investigation of unusual fluctuations in price or returns and obtaining an understanding of the pricing methodology to assess the reliability of third-party pricing estimates. The valuation methodologies described above may generate a fair value calculation that may not be indicative of net realizable value or future fair values. While the Company believes the valuation methodologies used are appropriate, the use of different methodologies or assumptions in calculating fair value could result in different amounts. The fair values of the Company’s pension plan assets at December 31, 2017 and 2016, by asset category were as follows:
Employer 401(k) Savings Plan — For the benefit of most of its U.S. employees, the Company maintains a defined contribution retirement savings plan (401(k)) that is intended to be qualified under Section 401(a) of the Internal Revenue Code. Under this plan, employees may contribute a percentage of eligible compensation on both a before-tax and after-tax basis. The Company provided a 401(k) discretionary match to participants in 2017, payable to participants' accounts in the first quarter of 2018. The total expense attributable to the match was $3.4 million for the year ended December 31, 2017. The Company did not provide a 401(k) discretionary match to participants in 2016 or 2015. Multi-Employer Pension Plans — The Company no longer participates in any active defined benefit multi-employer pension plans. During each of the years ended December 31, 2017, 2016 and 2015, the Company incurred additional charges of $0.2 million related to its complete withdrawal from one multi-employer pension plan in 2013. These charges were recorded as restructuring, impairment and other charges and represent the Company’s best estimate of the expected settlement of these withdrawal liabilities. See Note 3, Restructuring, Impairment and Other Charges, to the consolidated and combined financial statements for further details of charges related to complete multi-employer pension plan withdrawal liabilities recognized in the consolidated and combined statements of operations.
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Component: (Network and Table) | |
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Network | 100180 - Disclosure - Income Taxes (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxes) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Note 11. Income Taxes For periods prior to the Separation, income tax expense and deferred tax balances were calculated on a separate tax return basis although the Company’s operations in certain circumstances, particularly the U.S. and Canada, have historically been included in the tax returns filed by the respective RRD entities of which the Company’s business was a part. Beginning October 1, 2016, as a stand-alone entity, the Company files tax returns on its own behalf and its deferred taxes and effective tax rate may differ from those in the historical periods. The Company maintains an income taxes payable or receivable account in each jurisdiction and with the exception of certain entities outside the U.S. that transferred to the Company at Separation, the Company is deemed to settle current tax balances for the period prior to the Separation with the RRD tax-paying entities in the respective jurisdictions. These settlements are reflected as changes in net parent company investment in the consolidated and combined balance sheets. Income taxes have been based on the following components of earnings from operations before income taxes for the years ended December 31, 2017, 2016 and 2015:
The components of income tax expense (benefit) from operations for the years ended December 31, 2017, 2016 and 2015 were as follows:
The following table outlines the reconciliation of differences between the U.S. Federal statutory tax rate and the Company’s worldwide effective income tax rate:
The 2017 effective income tax rate is higher as compared to the 2016 effective income tax rate mainly due to impacts of the recent changes to U.S. tax legislation as a result of the enactment of the Tax Cuts and Jobs Act (H.R. 1) (“the Tax Act”) on December 22, 2017. The 2017 effective income tax rate was also impacted by non-deductible expenses incurred by the Company in 2017 which were previously incurred by RRD on behalf of the Company during pre-Separation periods, as well as a one-time favorable change in valuation allowances in 2016 not present in 2017. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period of one year from the Tax Act enactment date for companies to complete their accounting. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply its accounting on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018, the Company has revalued its U.S. deferred tax assets and liabilities as of December 31, 2017. The Company has recorded a reduction in the value of its net U.S. deferred tax asset of approximately $8.2 million, which has been recorded as additional deferred income tax expense in the Company’s consolidated statement of operations for the year ended December 31, 2017 and represents an income tax rate increase of 14.8%. Due to the transition to a territorial tax system under the Tax Act, the Company will be deemed to repatriate its foreign subsidiaries’ untaxed accumulated earnings and pay a mandatory U.S. federal tax (“the transition tax”) of 15.5% on the portion of the earnings that are in cash and cash equivalents and 8% on the portion of earnings that are in non-cash and non-cash equivalent assets. The Company has estimated this tax liability (federal and state) to be approximately $14.2 million which has been recorded as income tax expense in the consolidated statement of operations for the year ended December 31, 2017 and represents an income tax rate increase of 25.3%. In accordance with SAB 118, the impact of the revaluation of deferred tax assets ($8.2 million) and the transition tax ($14.2 million) are recorded in the Company’s financial statements for the year ended December 31, 2017 as provisional amounts as the Company was able to reasonably estimate the impact of these items. As the Company continues to analyze the full effects of the Tax Act on its financial statements, the impact of the Tax Act may differ from these provisional estimates due to, among other things, changes in interpretations and assumptions the Company has made, Department of the U.S. Treasury Internal Revenue Service (“IRS”) guidance and regulations that may be issued and actions the Company may take as a result. Pursuant to SAB 118, the Company will complete the accounting for these items within the twelve month measurement period. As available under the Tax Act, the Company will make an election to pay the transition tax liability in installments over eight years. Consequently, $13.1 million of this liability has been recorded as noncurrent taxes payable and $1.1 million as current taxes payable in the Company’s consolidated balance sheet as of December 31, 2017. Along with the change to a territorial tax system, the Tax Act creates the global intangible low-taxed income ("GILTI") provision. The GILTI provision imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign subsidiary corporations. The Company may be subject to the GILTI tax in a given year, but currently does not expect that it should have a material impact to the Company’s tax provision. The determination of whether the Company is subject to the GILTI provision will be an annual analysis of several factors under the provision, including the amount of foreign income generated by the Company’s foreign subsidiaries and whether the Company has income subject to the GILTI tax, which may change from year to year. In January 2018, the Financial Accounting Standards Board (“FASB”) released guidance on the accounting for GILTI tax, which allows an accounting policy election for companies to either account for deferred taxes related to GILTI inclusions or to treat any taxes on GILTI inclusions as period costs. The Company has not yet adopted its accounting policy with respect to GILTI tax; however, will do so within the twelve month measurement period pursuant to SAB 118. Deferred income taxes The significant deferred tax assets and liabilities at December 31, 2017 and 2016 were as follows:
The amounts above are included in the Consolidated Balance Sheets as either a net asset or liability on a jurisdiction by jurisdiction basis. Transactions affecting the valuation allowances on deferred tax assets during the years ended December 31, 2017, 2016 and 2015 were as follows:
As of December 31, 2017, the Company had domestic and foreign net operating loss deferred tax assets of approximately $10.1 million ($14.4 million at December 31, 2016), of which $3.5 million expires between 2018 and 2027. Limitations on the utilization of these deferred tax assets may apply. The Company has provided valuation allowances to reduce the carrying value of certain deferred tax assets, as management has concluded that, based on the weight of available evidence, it is more likely than not that the deferred tax assets will not be fully realized. Earnings generated by a foreign subsidiary are presumed to ultimately be transferred to the parent company. Therefore, the establishment of deferred taxes may be required with respect to the excess of the investment value for financial reporting over the tax basis of investments in those foreign subsidiaries (also referred to as book-over-tax outside basis differences). A company may overcome this presumption and forgo recording a deferred tax liability in its financial statements if it can assert that management has the intent and ability to indefinitely reinvest the earnings of its foreign subsidiaries. Prior to the year ended December 31, 2017, the Company has not provided deferred U.S., foreign or local income taxes on the book-over-tax outside basis differences of its foreign subsidiaries because such excess has been considered to be indefinitely reinvested in the local country businesses. As a result of the transition tax that the Company will incur pursuant to the Tax Act, the Company now has the ability to repatriate to the U.S. parent the foreign cash associated with the foreign earnings subject to the transition tax, as these earnings have already been subject to U.S. federal taxes. The Company is currently analyzing its global working capital and cash requirements in order to determine the amount of excess cash at its foreign subsidiaries that can be repatriated to the U.S. with minimal additional taxes, but has not yet determined whether the Company plans to change its assertion of indefinite reinvestment on all foreign earnings and other outside basis differences. As the Company has not completed its analysis in accordance with SAB 118, the Company has not recorded any deferred taxes attributable to the book-over-tax outside basis differences in its foreign subsidiaries. The Company will record the tax effects of any change in the Company’s assertion in the period that it completes its analysis; however, the Company does not anticipate incurring material foreign and/or local country taxes upon repatriation of foreign subsidiary earnings. Cash payments for income taxes for U.S. states and foreign jurisdictions were $30.5 million, $5.2 million and $1.9 million in 2017, 2016 and 2015, respectively. In certain jurisdictions, such as the United States and Canada, the Company is deemed to settle tax balances as of October 1, 2016 with RRD within net parent investment. Total amounts settled with RRD were $2.6 million, $37.2 million and $55.1 million for 2017, 2016 and 2015, respectively. Cash refunds for income taxes were $1.0 million, $0.7 million and $0.1 million in 2017, 2016 and 2015, respectively. Uncertain tax positions Changes in the Company’s unrecognized tax benefits at December 31, 2017, 2016 and 2015 were as follows:
As of December 31, 2017, 2016 and 2015, the Company had $0.3 million, $1.9 million and $1.0 million, respectively, of unrecognized tax benefits. Unrecognized tax benefits of $0.1 million as of December 31, 2017, if recognized, would have decreased income taxes and the corresponding effective income tax rate and increased net earnings. This potential impact on net earnings reflects the reduction of these unrecognized tax benefits, net of certain deferred tax assets and the federal tax benefit of state income tax items. As of December 31, 2017, no portion of the total amount of unrecognized tax benefits is expected to decrease within twelve months due to the resolution of audits or expirations of statutes of limitations related to U.S. federal, state or international tax positions. The Company classifies interest expense and any penalties related to income tax uncertainties as a component of income tax expense. The total interest expense/(benefit), net of tax benefits, related to tax uncertainties recognized in the Consolidated and Combined Statements of Operations was ($0.2) million, $0.3 million and $0.2 million for the years ended December 31, 2017, 2016 and 2015, respectively. There were no benefits from the reversal of accrued penalties for the years ended December 31, 2017, 2016 and 2015. There were no accrued interest liabilities related to income tax uncertainties at December 31, 2017. Accrued interest liabilities of $0.3 million related to income tax uncertainties were reported as a component of other noncurrent liabilities in the Consolidated Balance Sheets at December 31, 2016. There were no accrued penalties related to income tax uncertainties for the years ended December 31, 2017 and 2016. The Company has tax years from 2009 that remain open and subject to examination by certain U.S. state taxing authorities and/or certain foreign tax jurisdictions. During 2017, the Company filed its initial U.S. federal income tax return as a separate company for the stub period October 1, 2016 through December 31, 2016. Other than this stub period, there are no prior years subject to IRS examination. |
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Network | 100190 - Disclosure - Debt (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebt) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Debt Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Debt | Note 12. Debt On September 30, 2016, in connection with the Separation, the Company entered into a Credit Agreement (the “Credit Agreement”) by and among the Company, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as administrative agent. The Credit Agreement provides for (i) a new senior secured term loan B facility in an aggregate principal amount of $350.0 million (the “Term Loan Credit Facility”) and (ii) a new first lien senior secured revolving credit facility in an aggregate principal amount of $300.0 million (the “Revolving Facility”, and, together with the Term Loan Credit Facility, the “Credit Facilities”). The Credit Agreement contains a number of covenants, including a minimum Interest Coverage Ratio and a maximum Leverage Ratio, as defined in and calculated pursuant to the Credit Agreement, that, in part, restrict the Company’s ability to incur additional indebtedness, create liens, engage in mergers and consolidations, make restricted payments and dispose of certain assets. The Credit Agreement generally allows annual dividend payments of up to $15.0 million in the aggregate. As of December 31, 2017, there were no outstanding borrowings under the Revolving Facility. Borrowings under the Term Loan Credit Facility were used to provide $340.2 million of cash to RRD, pursuant to the Separation Agreement, as of September 30, 2016. The remainder of the net proceeds was used for general corporate purposes. Pursuant to the Separation and Distribution Agreement, the Company received a cash payment of $68.0 million from RRD on April 3, 2017. The proceeds were used to reduce outstanding debt under the Term Loan Credit Facility. On June 21, 2017, RRD completed the sale of approximately 6.1 million shares of the Company’s common stock in an underwritten public offering. Upon the consummation of the offering, RRD retained approximately 0.1 million shares of the Company’s common stock of the offering which were subsequently sold by RRD on August 4, 2017. In conjunction with the underwritten public offering, the underwriters exercised their option to purchase approximately 0.9 million Option Shares. The Company received approximately $18.8 million in net proceeds from the sale of the Option Shares, after deducting estimated underwriting discounts and commissions. The proceeds were used to reduce outstanding debt under the Revolving Facility. On October 2, 2017, the Company repriced the Term Loan Credit Facility. As a result, the interest rate was reduced by 100 basis points to LIBOR plus 3.0% and the LIBOR floor was reduced by 25 basis points to 0.75%. Additionally, under the amended Credit Agreement, principal payments are due on a quarterly basis. Other terms, including the outstanding principal, maturity date, and debt covenants such as the minimum Interest Coverage Ratio and the maximum Leverage Ratio are consistent with the original Credit Agreement. On September 30, 2016, also in connection with the Separation, the Company issued $300.0 million of 8.25% senior unsecured notes due October 15, 2024 (the “Notes”). Interest on the Notes is payable semi-annually on April 15 and October 15, commencing on April 15, 2017. The issuance of the Notes was part of a debt exchange that resulted in the settlement of certain of RRD's bonds. The Notes were issued pursuant to an indenture where certain wholly-owned domestic subsidiaries of the Company guarantee the Notes (the “Guarantors”). The Notes are jointly and severally guaranteed, on an unsecured basis, by the Guarantors, which are comprised of each of the Company’s existing and future direct and indirect wholly-owned U.S. subsidiaries that guarantee the Company’s obligations under the Credit Facilities. The Notes are not guaranteed by the Company’s foreign subsidiaries or unrestricted subsidiaries. The Notes and the related guarantees will be the Company and the Guarantors’, respective, senior unsecured obligations and will rank equally in right of payment to all present and future senior debt, including the obligations under the Company’s Credit Facilities, senior in right of payment to all present and future subordinated debt, and effectively subordinated in right of payment to any of the Company and the Guarantors’ secured debt, to the extent of the value of the assets securing such debt. The indenture governing the Notes contains certain covenants applicable to the Company and its restricted subsidiaries, including limitations on: (1) liens; (2) indebtedness; (3) mergers, consolidations and acquisitions; (4) sales, transfers and other dispositions of assets; (5) loans and other investments; (6) dividends and other distributions, stock repurchases and redemptions and other restricted payments; (7) restrictions affecting subsidiaries; (8) transactions with affiliates; and (9) designations of unrestricted subsidiaries. Each of these covenants is subject to important exceptions and qualifications. In connection with the offering of the Notes, the Company entered into a registration rights agreement, dated as of September 30, 2016 (the “Registration Rights Agreement”), pursuant to which the Company agreed to file a registration statement with the SEC with respect to an offer to exchange the Notes for registered notes. In certain circumstances, the Company may be required to file a shelf registration statement with the SEC registering the resale of the Notes by the holders thereof, in lieu of an exchange offer to such holders. On March 10, 2017, the Company filed a Registration Statement on Form S-4 (as amended, the “Exchange Offer Registration Statement”) to offer to exchange the Notes for registered notes which have terms identical in all material respects to the Notes except that the registered notes are not subject to transfer restrictions or registration rights. The Exchange Offer Registration Statement was declared effective by the SEC on March 22, 2017. An exchange offer for the Notes was launched on March 22, 2017 and settled on April 25, 2017, resulting in the exchange of $299.9 million aggregate principal amount of outstanding Notes for registered notes. The Company’s debt as of December 31, 2017 and 2016 consisted of the following:
The fair value of the senior notes, which was determined using the market approach based upon interest rates available to the Company for borrowings with similar terms and maturities, were determined to be Level 2 under the fair value hierarchy. The fair value of the Company’s senior notes was $321.5 million and $307.1 million at December 31, 2017 and 2016, respectively. The weighted average interest rate on borrowings under the Revolving Facility was 4.4% at December 31, 2017. As of December 31, 2017, the Company had $4.5 million in outstanding letters of credit and bank guarantees, of which none reduced to the availability under the Revolving Facility. At December 31, 2017, the future maturities of debt were as follows:
The following table summarizes interest expense included in the Consolidated and Combined Statements of Operations:
Interest paid was $40.0 million, $4.8 million and $1.1 million in 2017, 2016 and 2015, respectively. |
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Network | 100200 - Disclosure - Earnings per Share (http://www.dfsco.com/20171231/taxonomy/role/DisclosureEarningsPerShare) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
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Earnings per Share | Note 13. Earnings per Share Basic earnings per share is calculated by dividing net earnings by the weighted average number of common shares outstanding for the period. In computing diluted earnings per share, basic earnings per share is adjusted for the assumed issuance of all potentially dilutive share-based awards, including restricted stock units and restricted stock. On October 1, 2016, RRD distributed approximately 26.2 million shares of Donnelley Financial common stock to RRD shareholders in connection with the spin-off of Donnelley Financial, with RRD retaining approximately 6.2 million shares of Donnelley Financial common stock. Holders of RRD common stock received one share of Donnelley Financial for every eight shares of RRD common stock held on September 23, 2016. Basic and diluted earnings per common share and the average number of common shares outstanding were retrospectively restated for the number of Donnelley Financial shares outstanding immediately following this transaction. For periods prior to the Separation, basic and diluted earnings per share were calculated using the number of shares distributed and retained by RRD, totaling 32.4 million. The same number of shares was used to calculate basic and diluted earnings per share since there were no Donnelley Financial equity awards outstanding prior to the spin-off. On June 21, 2017, RRD completed the sale of approximately 6.1 million shares of the Company’s common stock in an underwritten public offering. Upon consumption of the offering, RRD retained approximately 0.1 million shares of the Company’s common stock which were subsequently sold by RRD on August 4, 2017. Refer to Note 1, Overview and Basis of Presentation, for further details. As a result of the Company adopting Accounting Standards Update 2016-09 “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”) beginning in the first quarter of 2017, excess tax benefits and tax deficiencies are excluded from the calculation of assumed proceeds when using the treasury stock method in calculating diluted earnings per share. The reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation and the anti-dilutive share-based awards for the years ended December 31, 2017, 2016 and 2015, were as follows.
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Network | 100210 - Disclosure - Share-Based Compensation (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensation) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
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Share Based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation | Note 14. Share-Based Compensation Donnelley Financial’s Stock and Incentive Programs for Employees and Directors The Company’s share-based compensation plan under which it may grant future awards, the 2016 Donnelley Financial Solutions, Inc. Performance Incentive Plan (“2016 PIP”), was approved by the Board of Directors to provide incentives to key employees of the Company. Awards under the 2016 PIP may include, cash or stock bonuses, stock options, stock appreciation rights, restricted stock or restricted stock units. In addition, non-employee members of the Board of Directors may receive awards under the 2016 PIP. There were 3.5 million shares of common stock reserved and authorized for issuance under the 2016 PIP. At December 31, 2017, there were 2.0 million shares of common stock authorized and available for grant under the 2016 PIP.
Impact of the Separation from RRD Prior to the Separation, RRD maintained an incentive stock program for the benefit of its officers, directors and certain employees, including certain Donnelley Financial employees. RRD’s share-based compensation programs in which Donnelley Financial employees participated included RSUs. In connection with the Separation, as of October 1, 2016, employee stock options and restricted stock units (“RSUs”) were adjusted and converted into new equity awards of Donnelley Financial, RRD and/or LSC using a 10-day volume weighted average share price of Donnelley Financial, RRD and LSC, as described in the Separation and Distribution Agreement. Converted awards retained the same vesting schedule and expiration date of the original awards. In addition, performance-based awards granted under RRD were converted into RSUs of Donnelley Financial, RRD and/or LSC (with satisfaction of performance conditions determined through the Separation Date) and remain subject to time-based vesting for the remainder of the applicable performance period. All equity awards converted upon Separation were authorized for issuance under the 2016 PIP. In periods following the Separation, the Company records share-based compensation expense for its employees’ equity awards that were converted into Donnelley Financial, RRD and/or LSC equity awards. The rights granted to the recipient of RRD RSU awards generally accrue ratably over the restriction or vesting period, which is generally four years. RRD also granted RSU awards which cliff vest three years from the grant date. RSU awards are subject to forfeiture upon termination of employment prior to vesting, subject in some cases to early vesting upon specified events, including death or permanent disability of the grantee, termination of the grantee’s employment under certain circumstances or a change in control of RRD. The Company records compensation expense of RSU awards based on the fair market value of the awards at the date of grant ratably over the period during which the restrictions lapse. Dividends are not paid on RSUs. Share-based compensation expense For all share-based awards granted to employees and directors following the Separation, including stock options, RSUs, performance based restricted stock and performance share units (“PSUs”), the Company recognizes compensation expense based on estimated grant date fair values based on certain assumptions as of the grant date. The Company estimates the number of awards expected to vest based, in part, on historical forfeiture rates and also based on management’s expectations of employee turnover within the specific employee groups receiving each type of award. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods, if actual forfeitures differ from those estimates. The Company recognizes compensation costs for RSUs expected to vest, on a straight-line basis over the requisite service period of the award, which is generally the vesting term of three years. Compensation expense for performance based restricted stock awards granted in 2016, which vest on a graded basis, is recognized utilizing a graded vesting schedule. Compensation expense for performance based restricted stock awards and PSUs granted in 2017, which cliff vest, is recognized on a straight-line basis over the performance period of the award. Compensation expense for stock options is recognized on a straight-line basis over the requisite service period of the award, which is generally the vesting term of four years. The stock options, RSUs, performance based restricted stock and PSUs granted during 2017 are subject to forfeiture upon termination of employment prior to vesting, subject in some cases to early vesting upon specified events, including death or permanent disability of the grantee or a change in control of the Company. In addition, upon a change in control of the Company, PSUs will be measured for attainment of the performance metrics as of the end of the Company’s fiscal quarter ending immediately prior to the fiscal quarter in which the change in control took place and the performance based restricted stock will be measured at 100% attainment of the target performance metrics. Both awards will remain subject to time based vesting until the end of the vesting period; provided that the award will vest in full if, within three months prior to or two years after the date of the change in control of the Company, the grantee’s employment is terminated without cause by the Company or for good reason by the grantee. In periods prior to the Separation, share-based compensation expense includes expense attributable to the Company based on the award terms previously granted to the Company’s employees and an allocation of compensation expense for RRD’s corporate and shared functional employees. As those share-based compensation plans are RRD’s plans, the amounts have been recognized through net parent company investment on the combined balance sheets. Total compensation expense related to all share-based compensation plans was $6.8 million, $2.5 million and $1.6 million for years ended December 31, 2017, 2016 and 2015, respectively. The income tax benefit related to share-based compensation expense was $3.0 million, $1.0 million and $0.6 million for the years ended December 31, 2017, 2016 and 2015, respectively. As of December 31, 2017, $10.4 million of total unrecognized compensation expense related to share-based compensation plans is expected to be recognized over a weighted-average period of 2.1 years. During the first quarter of 2017, the Company adopted ASU 2016-09, which identifies areas of simplification for several aspects of accounting for share-based payment transactions. The adoption of ASU 2016-09 represents a change in accounting principle. The Company has adopted all applicable aspects of this guidance on a prospective basis. ASU 2016-09 requires all excess tax benefits and tax deficiencies to be recognized as discrete items within income tax expense or benefit in the income statement in the reporting period in which they occur. As a result of this change, excess tax benefits and tax deficiencies are now excluded from the calculation of assumed proceeds when using the treasury stock method in calculating diluted earnings per share. ASU 2016-09 also requires excess tax benefits to be presented as an operating activity on the statement of cash flows rather than as a financing activity. ASU 2016-09 allows an employer with a statutory income tax withholding obligation to withhold shares with a fair value up to the amount of tax owed using the maximum statutory tax rate in the employee’s applicable jurisdiction(s). ASU 2016-09 requires companies to apply this guidance to outstanding liability awards at the date of adoption using a modified retrospective transition method, with a cumulative-effect adjustment to retained earnings. The Company does not have any outstanding share-based awards classified as liabilities. As such, no adjustment was required. ASU 2016-09 requires cash paid by an employer to taxing authorities when directly withholding shares for tax withholding purposes to be classified as a financing activity on the statement of cash flows. The change in classification is to be applied retrospectively. However, an adjustment to prior periods is not required because the Company did not have such tax withholding obligations during the prior periods. ASU 2016-09 requires a company to make an accounting policy election to account for forfeitures of share-based payments by either estimating the number of awards expected to vest or recognizing forfeitures when they occur. In accordance with ASU 2016-09, the Company has made an accounting policy election to estimate forfeitures and recognize compensation expense based on the number of awards expected to vest. Stock Options The Company granted 177,600 options, with a weighted-average grant date fair market value of $7.77, during the year ended December 31, 2017. There were no options granted during the years ended December 31, 2016 and 2015. The fair market value of each stock option award was estimated using the Black-Scholes-Merton option pricing model and the Company used the following methods to determine its underlying assumptions:
The weighted-average assumptions used to determine the weighted-average fair market value of the stock options granted during the year ended December 31, 2017 were as follows:
Stock option awards outstanding as of December 31, 2016 and December 31, 2017, and changes during the twelve months ended December 31, 2017, were as follows:
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on December 31, 2017 and December 31, 2016, respectively, and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options on December 31, 2017 and December 31, 2016. This amount will change in future periods based on the fair market value of the Company’s stock and the number of options outstanding. Total intrinsic value of options exercised for the year ended December 31, 2017 was $0.1 million and was de minimis for the year ended December 31, 2016. There were no excess tax benefits on stock option exercises for the years ended December 31, 2017 and 2016. Compensation expense related to stock options was $0.3 million for the year ended December 31, 2017. As of December 31, 2017, $1.1 million of total unrecognized compensation expense related to stock options is expected to be recognized over a weighted average period of 3.2 years. Compensation expense related to stock options for the years ended December 31, 2016 and 2015 was de minimis. Restricted Stock Units Nonvested restricted stock unit awards as of December 31, 2016 and December 31, 2017, and changes during the twelve months ended December 31, 2017, were as follows:
Compensation expense related to RSUs was $4.1 million, $1.9 million and $0.8 million for the years ended December 31, 2017, 2016 and 2015 respectively. As of December 31, 2017, there was $5.4 million of unrecognized share-based compensation expense related to 0.6 million restricted stock unit awards, with a weighted-average grant date fair value of $23.48, that are expected to vest over a weighted-average period of 1.9 years. The fair value of these awards was determined based on the Company’s stock price on the grant date, as the Company currently does not anticipate paying any cash dividends in the foreseeable future. Restricted Stock Nonvested restricted stock awards as of December 31, 2016 and December 31, 2017, and changes during the twelve months ended December 31, 2017, were as follows:
During the year ended December 31, 2017, the Company granted 129,400 shares of restricted stock to certain executives, payable upon the achievement of certain performance metrics. The fair value of these awards was determined based on the Company’s stock price on the grant date. The performance period for the restricted stock awarded is January 1, 2017 through December 31, 2019. The total potential payout for awards granted during the year ended December 31, 2017 range from zero to 129,400 shares, should certain performance targets be achieved. The maximum potential payout of 156,169 shares was achieved as of December 31, 2017 for the restricted stock awards granted during the year ended December 31, 2016. Compensation expense for the restricted stock awards is currently being recognized based on 100% attainment of the targeted performance metrics for the restricted stock awards granted in 2017 and is being recognized based on 100% actual achievement of the performance metrics for the restricted stock awards granted in 2016. Compensation expense for restricted stock awards was $2.2 million and $0.3 million for the years ended December 31, 2017 and 2016, respectively. As of December 31, 2017, there was $3.3 million of unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted average period of 1.9 years.
Performance Share Units During the year ended December 31, 2017, 37,100 performance share units were granted to certain executive officers and senior management, payable upon the achievement of certain established performance targets. The performance period for the shares awarded is January 1, 2017 through December 31, 2019. Distributions under these awards are payable at the end of the performance period in common stock or cash, at the Company’s discretion. The total potential payout for awards granted during the year ended December 31, 2017 range from zero to 55,650 shares, should certain performance targets be achieved. The fair value of these awards was determined based on the Company’s stock price on the grant date. Compensation expense for the PSUs granted in 2017 is currently being recognized based on 100% attainment of the targeted performance metrics or 37,100 shares. Compensation expense related to PSUs was $0.2 million for the year ended December 31, 2017. As of December 31, 2017, there was $0.6 million of unrecognized compensation expense related to PSUs, which is expected to be recognized over a weighted average period of 2.2 years. |
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Network | 100220 - Disclosure - Preferred Stock (http://www.dfsco.com/20171231/taxonomy/role/DisclosurePreferredStock) |
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Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Equity [Abstract] | Period [Axis] |
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2017-01-01 - 2017-12-31 | |
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Preferred Stock | Note 15. Preferred Stock The Company has one million shares of $0.01 par value preferred stock authorized for issuance. The Board of Directors may divide the preferred stock into one or more series and fix the redemption, dividend, voting, conversion, sinking fund, liquidation and other rights. The Company has no present plans to issue any preferred stock. |
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Network | 100230 - Disclosure - Comprehensive Income (http://www.dfsco.com/20171231/taxonomy/role/DisclosureComprehensiveIncome) |
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Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income | Note 16. Comprehensive Income The components of other comprehensive income and income tax expense allocated to each component for the years ended December 31, 2017, 2016 and 2015 were as follows:
The following table summarizes changes in accumulated other comprehensive loss by component for the years ended December 31, 2017, 2016 and 2015:
Reclassifications from accumulated other comprehensive loss for the years ended December 31, 2017, 2016 and 2015 were as follows:
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Network | 100240 - Disclosure - Segment Information (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSegmentInformation) |
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Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | Note 17. Segment Information The Company’s segments are summarized below: United States The U.S. segment serves capital market and investment market clients in the U.S. by delivering products and services to help create, manage, and deliver, accurate and timely financial communications to investors and regulators. The Company also provides virtual data rooms to facilitate the deal management requirements of capital markets and mergers and acquisitions transactions, and provides data and analytics services that help professionals uncover intelligence from disclosures contained within public filings made with the SEC. The U.S. segment also includes language solutions capabilities, through which the Company can translate documents and create content in up to 190 different languages for its clients, and commercial print. International The International segment includes the Company’s operations in Asia, Europe, Canada and Latin America. The international business is primarily focused on working with international capital markets clients on capital markets offerings and regulatory compliance related activities into or within the United States. In addition, the international segment provides language translation services and shareholder communication services to investment market clients. Corporate Corporate consists of unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, communications and certain facility costs. In addition, certain costs and earnings of employee benefit plans, such as pension and other postretirement benefit plan income and allocated costs for share-based compensation, are included in Corporate and not allocated to the operating segments. Information by Segment The Company has disclosed income (loss) from operations as the primary measure of segment earnings (loss). This is the measure of profitability used by the Company’s chief operating decision-maker and is most consistent with the presentation of profitability reported within the consolidated and combined financial statements.
Corporate assets primarily consisted of the following items at December 31, 2017 and 2016:
* Beginning in the quarter ended September 30, 2017, RRD no longer qualified as a related party.
Restructuring, impairment and other charges by segment for 2017, 2016, and 2015 are described in Note 3, Restructuring, Impairment and Other Charges.
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Network | 100250 - Disclosure - Geographic Area and Products and Services Information (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGeographicAreaAndProductsAndServicesInformation) |
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Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
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Geographic Area and Products and Services Information | Note 18. Geographic Area and Products and Services Information The table below presents net sales and long-lived assets by geographic region for the years ended December 31, 2017, 2016 and 2015.
The following table summarizes net sales for services and products for the years ended December 31, 2017, 2016 and 2015.
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Network | 100260 - Disclosure - Related Parties (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRelatedParties) |
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Related Parties | Note 19. Related Parties On March 28, 2017, RRD completed the sale of 6.2 million shares of LSC common stock (RRD’s remaining ownership stake in LSC) in an underwritten public offering. As a result, beginning in the quarter ended June 30, 2017, LSC no longer qualified as a related party of the Company and the amounts disclosed related to LSC are presented through March 31, 2017 only. On June 21, 2017, RRD completed the sale of approximately 6.1 million shares of the Company’s common stock. RRD retained approximately 0.1 million shares of the Company’s common stock which RRD sold on August 4, 2017. Beginning in the quarter ended September 30, 2017, RRD no longer qualified as a related party and the amounts disclosed related to RRD are presented through June 30, 2017 only. Transition Services Agreements In connection with the Separation, the Company entered into transition services agreements separately with RRD and LSC, under which, in exchange for the fees specified in the arrangements, RRD and LSC agree to provide certain services to the Company and the Company agrees to provide certain services to RRD, respectively, for up to 24 months following the Separation. These services include, but are not limited to, information technology, accounts receivable, accounts payable, payroll and other financial and administrative services and functions. These agreements facilitate the separation by allowing the Company to operate independently prior to establishing stand-alone back office systems across its organization. Commercial Arrangements The Company entered into a number of commercial and other arrangements with RRD and its subsidiaries. These include, among other things, arrangements for the provision of services, including global outsourcing and logistics services, printing and binding, digital printing, composition and access to technology. The terms of the arrangements with RRD do not exceed 36 months. Subsequent to the Separation, RRD and LSC are clients of the Company and expect to utilize financial communication software and services that the Company provides to all of its clients. Stockholder and Registration Rights Agreement The Company and RRD entered into a Stockholder and Registration Rights Agreement with respect to the Company’s common stock retained by RRD pursuant to which the Company agrees that, upon the request of RRD, the Company will use its reasonable best efforts to effect the registration under applicable federal and state securities laws of the shares of the Company’s common stock retained by RRD after the Separation. In addition, RRD granted the Company a proxy to vote the shares of the Company’s common stock that RRD retained immediately after the Separation in proportion to the votes cast by the Company’s other stockholders. This proxy, however, will be automatically revoked as to a particular share upon any sale or transfer of such share from RRD to a person other than RRD, and neither the voting agreement nor the proxy will limit or prohibit any such sale or transfer. On March 24, 2017, pursuant to the Stockholder and Registration Rights Agreement, the Company filed a Registration Statement on Form S-1 to register the offering and sale of the Company’s common stock retained by RRD. The Registration Statement on Form S-1, as amended, was declared effective by the SEC on June 13, 2017. On June 21, 2017, RRD completed the sale of approximately 6.1 million shares of the Company’s common stock in an underwritten public offering. Upon consummation of the offering, RRD retained approximately 0.1 million shares of the Company’s common stock which were subsequently sold by RRD on August 4, 2017. Sublease Agreement In connection with the Separation, the Company assumed an operating lease through 2024 for the Company’s headquarters. There is a related non-cancelable sublease rental to RRD for the same period. The Company remains secondarily liable under this lease in the event that the sub-lessee defaults under the sublease terms. The Company does not believe that material payments will be required as a result of the secondary liability provisions of the primary lease agreement.
Related Party Receivables/Payables Pursuant to the Separation and Distribution Agreement, the Company received a cash payment of $68.0 million from RRD on April 3, 2017. The proceeds were used to reduce outstanding debt under the Term Loan Credit Facility. The Company has other amounts due to or from RRD in the normal course of business. The Company had $96.0 million of receivables from RRD and $27.1 million of payables to RRD included in the consolidated balance sheet at December 31, 2016.
Allocations from RRD Prior to the Separation RRD provided Donnelley Financial with certain services, which include, but are not limited to information technology, finance, legal, human resources, internal audit, treasury, tax, investor relations and executive oversight. The financial information in these consolidated and combined financial statements does not necessarily include all the expenses that would have been incurred had Donnelley Financial been a separate, standalone entity for all periods presented. Prior to the Separation RRD charged Donnelley Financial for these services based on direct usage when possible. When specific identification was not practicable, the pro rata basis of revenue or employee headcount, or some other measure was used. These allocations were reflected as follows in the unaudited consolidated and combined financial statements:
The Company considers the expense methodology and results to be reasonable for all periods presented. However, these allocations may not be indicative of the actual expenses that the Company would have incurred as an independent public company or the costs it may incur in the future. Related Party Revenues Donnelley Financial generates a portion of net revenue from sales to RRD’s subsidiaries. Net revenues from sales to RRD and affiliates of $8.3 million for the six months ended June 30, 2017 and $19.4 million and $7.8 million for the years ended December 31, 2016 and 2015, respectively, were included in the consolidated and combined statement of operations. Related Party Purchases Donnelley Financial utilizes RRD for freight and logistics and services as well as certain production of printed products. Cost of sales of $32.3 million for the six months ended June 30, 2017 and $57.9 million and $68.3 million for the years ended December 31, 2016 and 2015, respectively, were included in the consolidated and combined statement of operations for these purchases. Donnelley Financial also utilizes RRD’s business process outsourcing business for certain composition, XBRL and other functions. Cost of sales of $19.5 million for the six months ended June 30, 2017 and $37.8 million and $40.4 million for the years ended December 31, 2016 and 2015, respectively, were included in the consolidated and combined statement of operations for these purchases. Share-Based Compensation Prior to Separation Prior to the Separation, certain Donnelley Financial employees participated in RRD’s share-based compensation plans, the costs of which have been allocated to Donnelley Financial and recorded in selling, general and administrative expenses in the consolidated and combined statement of operations. Share-based compensation costs allocated to the Company were $1.2 million for the nine months ended September 30, 2016 and $1.6 million for the year ended December 31, 2015. Retirement Plans Prior to Separation Prior to the Separation, Donnelley Financial employees participated in pension and other postretirement plans sponsored by RRD. These costs are reflected in the Company’s cost of sales and selling, general and administrative expenses in the consolidated and combined statements of operations. On October 1, 2016, Donnelley Financial recorded net pension plan liabilities of $68.3 million (consisting of a total benefit plan liability of $317.0 million, net of plan assets having fair market value of $248.7 million), as a result of the transfer of certain pension plan liabilities and assets from RRD to the Company upon the legal split of those plans. The pension plan asset allocation from RRD was finalized on June 30, 2017, which resulted in a $0.7 million decrease to the fair value of plan assets transferred to the Company from RRD. Refer to Note 10, Retirement Plans, for further details regarding the Company’s pension and other postretirement benefit plans. Centralized Cash Management Prior to Separation RRD used a centralized approach to cash management and financing of operations. Prior to the Separation, the majority of the Company’s foreign subsidiaries were party to RRD’s international cash pooling arrangements to maximize the availability of cash for general operating and investing purposes. As part of RRD’s centralized cash management process, cash balances were swept regularly from the Company’s accounts. Debt RRD’s third party debt and related interest expense have not been allocated to the Company for any of the periods presented as the Company was not the legal obligor of the debt and the borrowings were not directly related to the Company’s business.
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Component: (Network and Table) | |
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Network | 100270 - Disclosure - New Accounting Pronouncements (http://www.dfsco.com/20171231/taxonomy/role/DisclosureNewAccountingPronouncements) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accounting Changes And Error Corrections [Abstract] | Period [Axis] |
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2017-01-01 - 2017-12-31 | |
Accounting Changes And Error Corrections [Abstract] | |
New Accounting Pronouncements | Note 20. New Accounting Pronouncements Recently Adopted Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update No. 2017-04 “Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”), which simplifies the accounting for goodwill impairment. ASU 2017-04 requires entities to record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (Step 1 under the current impairment test). The standard eliminates Step 2 from the current goodwill impairment test, which included determining the implied fair value of goodwill and comparing it with the carrying amount of that goodwill. ASU 2017-04 must be applied prospectively and is effective in the first quarter of 2020. Early adoption is permitted. The Company early adopted the standard in the first quarter of 2017. Recently Issued Accounting Pronouncements In February 2018, the FASB issued Accounting Standards Update No. 2018-02 “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Income Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”), which provides entities the option to reclassify tax effects stranded in accumulated other comprehensive income as a result of the Tax Act to retained earnings. ASU 2018-02 may be applied either in the period of adoption or retrospectively to each period in which the effect of the Tax Act is recognized. ASU 2018-02 is effective in the first quarter of 2019. Early adoption is permitted. The Company is evaluating the impact of ASU 2018-02. In March 2017, the FASB issued Accounting Standards Update No. 2017-07 “Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (“ASU 2017-07”), which requires an employer to report the service cost component of net periodic benefit cost in the same line item(s) as other employee compensation costs arising from services rendered during the period. The other components of net periodic benefit cost will be presented in the income statement separately from the line item(s) that includes the service cost and outside of any subtotal of operating income. ASU 2017-07 must be applied retrospectively and is effective in the first quarter of 2018. Early adoption is permitted; however the Company plans to adopt the standard in the first quarter of 2018. Refer to Note 10, Retirement Plans, for disclosure of pension income for the years ended December 31, 2017 and 2016 which will be reclassified to other income upon adoption of the standard. In February 2016, the FASB issued Accounting Standards Update No. 2016-02 “Leases (Topic 842)” (“ASU 2016-02”), which requires lessees to put most leases on the balance sheet but recognize expense on the income statement in a manner similar to current accounting. For lessors, ASU 2016-02 also modifies the classification criteria and the accounting for sales-type and direct financing leases. The standard requires a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements and is effective in the first quarter of 2019. Early adoption of ASU 2016-02 is permitted; however the Company plans to adopt the standard in the first quarter of 2019. The Company is evaluating the impact of ASU 2016-02. In May 2014, the FASB issued ASU 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenue using a five-step process that supersedes virtually all existing revenue guidance. ASU 2014-09 also requires additional quantitative and qualitative disclosures. In August 2015, the FASB issued Accounting Standards Update No. 2015-14 “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date” (“ASU 2015-14”), which defers the effective date of ASU 2014-09 to January 1, 2018. Early adoption of ASU 2014-09 is permitted; however, the Company will adopt the standard in the first quarter of 2018. The standard allows the option of either a full retrospective adoption, meaning the standard is applied to all periods presented, or a modified retrospective adoption, meaning the standard is applied only to the most current period. The Company will apply the modified retrospective approach when adopting the standard in 2018. The Company evaluated the impacts of ASU 2014-09 and does not expect a material change in the timing of revenue recognition for the majority of the Company’s revenue. However, under ASU 2014-09, revenue recognition will be accelerated for certain arrangements with multiple performance obligations as revenue will be recognized upon the completion of each performance obligation rather than upon final delivery of the printed product. For example, for an arrangement which includes the completion of a regulatory filing and the printing and distribution of the related document, some revenue and costs will be recognized upon the completion of the regulatory filing, with the remaining revenue and costs recognized upon the completion of the printing and distribution of the product. The Company also expects to accelerate the recognition of revenue for certain inventory which has been invoiced but not yet shipped at the customer’s request. Additionally, certain revenues related to virtual data room services will be deferred as a result of the new standard. The net impact of these changes will result in an opening transition adjustment to retained earnings upon the adoption of ASU 2014-09 for the amounts that would have been recognized in 2017 under the new standard. The Company will provide expanded footnote disclosure related to revenue recognition consistent with the requirements of ASU 2014-09 in its Quarterly Report on Form 10-Q for the period ending March 31, 2018. The Company has also implemented the necessary processes and internal controls to support the new revenue recognition standard and fulfill its external reporting requirements. |
Component: (Network and Table) | |
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Network | 100280 - Disclosure - Guarantor Financial Information (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformation) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantor Financial Information | Note 21. Guarantor Financial Information
As described in Note 12, Debt, on September 30, 2016, the Company issued the Notes. The Guarantors of the Notes, Donnelley Financial, LLC and DFS International Holding, Inc., entered into an agreement pursuant to which each agreed to guarantee the Company’s obligations under the Notes. All guarantees are full and unconditional and joint and several. The Guarantors are 100% directly owned subsidiaries of the Company. The guarantee of the Notes by a subsidiary guarantor will be automatically released under certain situations, including upon the sale or disposition of such subsidiary guarantor to a person that is not Donnelley Financial or a subsidiary guarantor of the notes, the liquidation or dissolution of such subsidiary guarantor, and if such subsidiary guarantor is released from its guarantee obligations under the Company’s Credit Facilities. The following tables set forth condensed consolidating statements of income for the years ended December 31, 2017, 2016, and 2015, condensed consolidating statements of financial position as of December 31, 2017 and December 31, 2016, and condensed consolidating statements of cash flows for the years ended December 31, 2017, 2016, and 2015. The principal consolidating adjustments are to eliminate the investment in subsidiaries and intercompany balances and transactions. For purposes of the tables below, the Company is referred to as “Parent” and the Guarantors are referred to as “Guarantor Subsidiaries.”
Condensed Consolidating Statements of Operations Year Ended December 31, 2017
* Beginning in the quarter ended June 30, 2017, LSC no longer qualified as a related party, therefore the 2017 amounts disclosed related to LSC are presented through March 31, 2017 only. Beginning in the quarter ended September 30, 2017, RRD no longer qualified as a related party, therefore the amounts disclosed related to RRD are presented through June 30, 2017 only.
Condensed Consolidating Statements of Operations Year Ended December 31, 2016
Condensed Consolidating Statements of Operations Year Ended December 31, 2015
Condensed Consolidating Balance Sheet December 31, 2017
Condensed Consolidating Balance Sheet December 31, 2016
Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2017
Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2016
Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2015
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Component: (Network and Table) | |
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Network | 100290 - Disclosure - Significant Accounting Policies (Policies) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSignificantAccountingPoliciesPolicies) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accounting Policies [Abstract] | Period [Axis] |
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2017-01-01 - 2017-12-31 | |
Accounting Policies [Abstract] | |
Use of Estimates | |
Foreign Operations | Foreign Operations —Assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the exchange rates existing at the respective balance sheet dates. Income and expense items are translated at the average rates during the respective periods. Translation adjustments resulting from fluctuations in exchange rates are recorded as a separate component of other comprehensive income (loss) while transaction gains and losses are recorded in net earnings. Deferred taxes are not provided on cumulative foreign currency translation adjustments when the Company expects foreign earnings to be indefinitely reinvested. |
Fair Value Measurements | Fair Value Measurements—Certain assets and liabilities are required to be recorded at fair value on a recurring basis. Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The Company records the fair value of its pension plan assets on a recurring basis. See Note 10, Retirement Plans, for the fair value of the Company’s pension plan assets as of December 31, 2017. In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company is required to record certain assets and liabilities at fair value on a nonrecurring basis, generally as a result of acquisitions or the remeasurement of assets resulting in impairment charges. Assets measured at fair value on a nonrecurring basis include long-lived assets held and used, long-lived assets held for sale, goodwill and other intangible assets. The fair value of cash and cash equivalents, accounts receivable, short-term debt and accounts payable approximate their carrying values. The three-tier value hierarchy, which prioritizes valuation methodologies based on the reliability of the inputs, is: Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets. Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 — Valuations based on unobservable inputs reflecting the Company’s own assumptions, consistent with reasonably available assumptions made by other market participants. |
Revenue Recognition | Revenue Recognition — The Company files highly-customized materials, such as regulatory S-filings and IPOs with the SEC on behalf of its customers, and performs XBRL and related services. Revenue is recognized for these services upon completion of the service performed or following final delivery of the related printed product. The Company also provides virtual data room services and other content management services, for which revenue is recognized as the service is performed. The Company recognizes revenue for the majority of its products upon the transfer of title and risk of ownership, which is generally upon shipment to the customer. Because substantially all of the Company’s products are customized, product returns are not significant; however, the Company accrues for the estimated amount of customer credits at the time of sale. The Company records deferred revenue in situations where amounts are invoiced but the revenue recognition criteria outlined above are not met. Such revenue is recognized when all criteria are subsequently met. Certain revenues earned by the Company require judgment to determine if revenue should be recorded gross, as a principal, or net of related costs, as an agent. Billings for shipping and handling costs as well as certain postage costs, and out-of-pocket expenses are recorded gross. The Company’s printing operations process paper that may be supplied directly by customers or may be purchased by the Company and sold to customers. No revenue is recognized for customer-supplied paper, but revenues for Company-supplied paper are recognized on a gross basis. Refer to Note 20, New Accounting Pronouncements, for a discussion of the expected impact of the 2018 adoption of Accounting Standards Update No. 2014-09 “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). |
Cash and Cash Equivalents | Cash and cash equivalents —The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Short-term securities consist of investment grade instruments of governments, financial institutions and corporations. |
Receivables | |
Inventories | |
Long-Lived Assets | |
Property, Plant and Equipment | |
Goodwill | Goodwill —Goodwill is either assigned to a specific reporting unit or allocated between reporting units based on the relative fair value of each reporting unit. The Company's goodwill balances were reallocated from RRD’s historical reporting units based on the relative fair values of the businesses. Goodwill is reviewed for impairment annually as of October 31 or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is below its carrying amount. For certain reporting units, the Company may perform a qualitative, rather than quantitative, assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In performing this qualitative analysis, the Company considers various factors, including the excess of prior year estimates of fair value compared to carrying value, the effect of market or industry changes and the reporting units’ actual results compared to projected results. Based on this qualitative analysis, if management determines that it is more likely than not that the fair value of the reporting unit is greater than its carrying value, no further impairment testing is performed. For the remaining reporting units, the Company compares each reporting unit’s fair value, estimated based on comparable company market valuations and expected future discounted cash flows to be generated by the reporting unit, to its carrying amount. If the carrying amount exceeds the reporting unit’s fair value, the Company will recognize an impairment loss for the amount by which the carrying amount exceeds the fair value. The Company also performs an interim review for indicators of impairment at each quarter-end to assess whether an interim impairment review is required for any reporting unit. In the Company’s annual review at October 31, 2017, and its interim review for indicators of impairment as of December 31, 2017, management concluded that there were no indicators that the fair value of any of the reporting units with goodwill was more likely than not below its carrying amount. |
Amortization | |
Share-Based Compensation | Share-Based Compensation — In periods prior to the Separation, RRD maintained an incentive share-based compensation program for the benefit of its officers, directors, and certain employees, including certain Donnelley Financial employees. For those periods share-based compensation expense has been allocated to the Company based on the awards and terms previously granted to the Company’s employees as well as an allocation of compensation expense to RRD’s corporate and shared functional employees. Subsequent to the Separation, the Company recognizes share-based compensation expense based on estimated fair values for all share-based awards made to employees and directors, including restricted stock and restricted stock units. The Company recognizes compensation expense for restricted stock units expected to vest on a straight-line basis over the requisite service period of the award, based on the grant date fair value. The Company recognizes compensation expense for performance based restricted stock awards utlizing a graded vesting schedule. See Note 14, Share-Based Compensation, for further discussion. |
Pension and Other Postretirement Benefit Plans | Pension and Other Postretirement Benefit Plans — Prior to the Separation, RRD provided pension and other postretirement healthcare benefits to certain current and former employees of Donnelley Financial. Donnelley Financial’s consolidated and combined statements of operations include expense allocations for these benefits. These allocations were funded through intercompany transactions with RRD which are reflected within net parent company investment in Donnelley Financial. On October 1, 2016, Donnelley Financial recorded net pension plan liabilities of $68.3 million (consisting of a total benefit plan liability of $317.0 million, net of plan assets having fair market value of $248.7 million), as a result of the transfer of certain pension plan liabilities and assets from RRD to the Company upon the legal split of those plans. The pension plan asset allocation from RRD was finalized on June 30, 2017, which resulted in a $0.7 million decrease to the fair value of plan assets transferred to the Company from RRD. The Company also recorded a net other postretirement benefit liability of $1.5 million, as a result of the transfer of an other postretirement benefit plan from RRD to the Company. Donnelley Financial engages outside actuaries to assist in the determination of the obligations and costs under these plans. The annual income and expense amounts relating to the pension plan are based on calculations which include various actuarial assumptions including, mortality expectations, discount rates and expected long-term rates of return. The Company reviews its actuarial assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is deemed appropriate to do so. The effects of modifications on the value of plan obligations and assets is recognized immediately within other comprehensive income (loss) and amortized into operating earnings over future periods. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience, market conditions and input from its actuaries and investment advisors. Refer to Note 10, Retirement Plans, for further discussion. |
Taxes on Income | Taxes on Income - In the Company’s combined financial statements prior to Separation, income tax expense and deferred tax balances were calculated on a separate income tax return basis although the Company’s operations have historically been included in the tax returns filed by the respective RRD entities of which the Company’s business was a part. As a standalone entity, the Company will file tax returns on its own behalf and its deferred taxes and effective tax rate may differ from those in historical periods. Deferred taxes are provided using an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company maintains an income taxes payable or receivable account in each jurisdiction and, with the exception of certain entities outside the U.S. that transferred to the Company at Separation, the Company is deemed to settle current tax balances with the RRD tax paying entities in the respective jurisdictions. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. The Company is regularly audited by foreign and domestic tax authorities. These audits occasionally result in proposed assessments where the ultimate resolution might result in the Company owing additional taxes, including in some cases, penalties and interest. The Company recognizes a tax position in its financial statements when it is more likely than not (i.e., a likelihood of more than fifty percent) that the position would be sustained upon examination by tax authorities. This recognized tax position is then measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Although management believes that its estimates are reasonable, the final outcome of uncertain tax positions may be materially different from that which is reflected in the Company’s financial statements. The Company adjusts such reserves upon changes in circumstances that would cause a change to the estimate of the ultimate liability, upon effective settlement or upon the expiration of the statute of limitations, in the period in which such event occurs. See Note 11, Income Taxes, for further discussion. |
Component: (Network and Table) | |
---|---|
Network | 100300 - Disclosure - Restructuring, Impairment and Other Charges (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRestructuringImpairmentAndOtherChargesTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Restructuring And Related Activities [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring And Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Restructuring, Impairment and Other Charges Recognized in Results of Operations |
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Schedule of Changes in the Restructuring Reserve | The restructuring reserve as of December 31, 2017 and 2016, and changes during the year ended December 31, 2017, were as follows:
The restructuring reserve as of December 31, 2016 and 2015, and changes during the year ended December 31, 2016, were as follows:
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Component: (Network and Table) | |
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Network | 100310 - Disclosure - Goodwill and Other Intangible Assets (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGoodwillAndOtherIntangibleAssetsTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Goodwill And Intangible Assets Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in the Carrying Amount of Goodwill by Segment | The changes in the carrying amount of goodwill by segment for the years ended December 31, 2017 and 2016 were as follows:
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Components of Other Intangible Assets | The components of other intangible assets at December 31, 2017 and 2016 were as follows:
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Schedule of Estimated Annual Amortization Expense Related to Other Intangible Assets | The following table outlines the estimated annual amortization expense related to other intangible assets as of December 31, 2017:
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Component: (Network and Table) | |
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Network | 100320 - Disclosure - Accounts Receivable (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureAccountsReceivableTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Receivables [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions Affecting Allowance for Doubtful Accounts | Transactions affecting the allowances for doubtful accounts receivable during the years ended December 31, 2017, 2016 and 2015 were as follows:
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Component: (Network and Table) | |
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Network | 100330 - Disclosure - Inventories (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureInventoriesTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Inventory Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Components of Inventories | The components of the Company’s inventories, net of excess and obsolescence reserves for raw materials and finished goods, at December 31, 2017 and 2016 were as follows:
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Component: (Network and Table) | |
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Network | 100340 - Disclosure - Property, Plant and Equipment (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosurePropertyPlantAndEquipmentTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Property Plant And Equipment [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property Plant And Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Company's Property, Plant and Equipment | The components of the Company’s property, plant and equipment at December 31, 2017 and 2016 were as follows:
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Component: (Network and Table) | |
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Network | 100350 - Disclosure - Accrued Liabilities (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureAccruedLiabilitiesTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accrued Liabilities Current [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities Current [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Accrued Liabilities | The components of the Company’s accrued liabilities at December 31, 2017 and 2016 were as follows:
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Component: (Network and Table) | |
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Network | 100360 - Disclosure - Commitments and Contingencies (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureCommitmentsAndContingenciesTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Commitments And Contingencies Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Future Minimum Rental Commitments Under Operating Lease | Future minimum rental commitments under operating leases are as follows:
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Component: (Network and Table) | |
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Network | 100370 - Disclosure - Retirement Plans (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Compensation And Retirement Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Estimated Net Pension Plan Income | The components of the estimated net pension plan income for Donnelley Financial’s pension plans for the years ended December 31, 2017, 2016 and 2015 were as follows:
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Reconciliation of Funded Status |
Reconciliation of funded status
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Amount Recognized on Consolidated and Combined Balance Sheets |
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Amounts in Accumulated Other Comprehensive Loss |
The amounts included in accumulated other comprehensive loss in the Consolidated Balance Sheets excluding tax effects, that have not been recognized as components of net periodic cost at December 31, 2017 and 2016 were as follows:
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Amounts Recognized in Other Comprehensive Income (Loss) |
The pre-tax amounts recognized in other comprehensive income (loss) in 2017 as components of net periodic costs were as follows:
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Schedule of Accumulated Other Comprehensive Loss Expected to Recognized as Components of Net Periodic Benefit Costs |
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Weighted Average Assumptions Used to Determine Benefit Obligation | The weighted average assumptions used to determine the benefit obligation at the measurement date were as follows:
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Summary of Projected Benefit Obligations in Excess of Plan Assets |
The following table provides a summary of under-funded or unfunded pension benefit plans with projected benefit obligations in excess of plan assets as of December 31, 2017 and 2016:
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Expected Benefit Payments |
Benefit payments are expected to be paid as follows:
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Allocation of Plan Assets |
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Component: (Network and Table) | |
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Network | 100380 - Disclosure - Income Taxes (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Earnings from Operations Before Income Taxes | Income taxes have been based on the following components of earnings from operations before income taxes for the years ended December 31, 2017, 2016 and 2015:
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Components of Income Tax Expense (Benefit) from Operations |
The components of income tax expense (benefit) from operations for the years ended December 31, 2017, 2016 and 2015 were as follows:
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Reconciliation of Differences Between U.S Federal Statutory and Effective Income Tax Rate |
The following table outlines the reconciliation of differences between the U.S. Federal statutory tax rate and the Company’s worldwide effective income tax rate:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Deferred Tax Assets and Liabilities | The significant deferred tax assets and liabilities at December 31, 2017 and 2016 were as follows:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions Affecting Valuation Allowance On Deferred Tax Assets |
The amounts above are included in the Consolidated Balance Sheets as either a net asset or liability on a jurisdiction by jurisdiction basis. Transactions affecting the valuation allowances on deferred tax assets during the years ended December 31, 2017, 2016 and 2015 were as follows:
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Unrecognized Tax Benefits | Changes in the Company’s unrecognized tax benefits at December 31, 2017, 2016 and 2015 were as follows:
|
Component: (Network and Table) | |
---|---|
Network | 100390 - Disclosure - Debt (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Debt Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of the Company's Debt | The Company’s debt as of December 31, 2017 and 2016 consisted of the following:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Future Maturities of Debt | At December 31, 2017, the future maturities of debt were as follows:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Interest Expense | The following table summarizes interest expense included in the Consolidated and Combined Statements of Operations:
|
Component: (Network and Table) | |
---|---|
Network | 100400 - Disclosure - Earnings per Share (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureEarningsPerShareTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Earnings Per Share [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Numerator and Denominator of Basic and Diluted Earnings per Share Calculation and Anti-dilutive Share-based Awards |
|
Component: (Network and Table) | |
---|---|
Network | 100410 - Disclosure - Share-Based Compensation (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensationTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Share Based Compensation [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Based Compensation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Weighted-Average Assumptions Used to Determine Weighted-Average Fair Market Value of Stock Options Granted | The weighted-average assumptions used to determine the weighted-average fair market value of the stock options granted during the year ended December 31, 2017 were as follows:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Stock Options Activity | Stock option awards outstanding as of December 31, 2016 and December 31, 2017, and changes during the twelve months ended December 31, 2017, were as follows:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Restricted Stock Units | Nonvested restricted stock unit awards as of December 31, 2016 and December 31, 2017, and changes during the twelve months ended December 31, 2017, were as follows:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Nonvested Restricted Stock Awards | Nonvested restricted stock awards as of December 31, 2016 and December 31, 2017, and changes during the twelve months ended December 31, 2017, were as follows:
|
Component: (Network and Table) | |
---|---|
Network | 100420 - Disclosure - Comprehensive Income (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureComprehensiveIncomeTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Equity [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Other Comprehensive Income and Income Tax Expense Allocated to Each Component | The components of other comprehensive income and income tax expense allocated to each component for the years ended December 31, 2017, 2016 and 2015 were as follows:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Accumulated Other Comprehensive Loss | The following table summarizes changes in accumulated other comprehensive loss by component for the years ended December 31, 2017, 2016 and 2015:
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from Accumulated Other Comprehensive Loss, Amortization of Pension Plan Cost | Reclassifications from accumulated other comprehensive loss for the years ended December 31, 2017, 2016 and 2015 were as follows:
|
Component: (Network and Table) | |
---|---|
Network | 100430 - Disclosure - Segment Information (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSegmentInformationTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Segment Reporting [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information | The Company has disclosed income (loss) from operations as the primary measure of segment earnings (loss). This is the measure of profitability used by the Company’s chief operating decision-maker and is most consistent with the presentation of profitability reported within the consolidated and combined financial statements.
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Schedule of Corporate Assets | Corporate assets primarily consisted of the following items at December 31, 2017 and 2016:
* Beginning in the quarter ended September 30, 2017, RRD no longer qualified as a related party. |
Component: (Network and Table) | |
---|---|
Network | 100440 - Disclosure - Geographic Area and Products and Services Information (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGeographicAreaAndProductsAndServicesInformationTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Segment Reporting [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Sales and Long-lived Assets by Geographic Region | The table below presents net sales and long-lived assets by geographic region for the years ended December 31, 2017, 2016 and 2015.
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Summary of Net Sales for Services and Products | The following table summarizes net sales for services and products for the years ended December 31, 2017, 2016 and 2015.
|
Component: (Network and Table) | |
---|---|
Network | 100450 - Disclosure - Related Parties (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRelatedPartiesTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Related Party Transactions [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||
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2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Schedule of Allocation of Expenses Reflected in Unaudited Condensed Consolidated and Combined Financial Statements |
|
Component: (Network and Table) | |
---|---|
Network | 100460 - Disclosure - Guarantor Financial Information - (Tables) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformationTables) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | Period [Axis] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantor Financial Information Condensed Consolidating Statements of Operations | Condensed Consolidating Statements of Operations Year Ended December 31, 2017
* Beginning in the quarter ended June 30, 2017, LSC no longer qualified as a related party, therefore the 2017 amounts disclosed related to LSC are presented through March 31, 2017 only. Beginning in the quarter ended September 30, 2017, RRD no longer qualified as a related party, therefore the amounts disclosed related to RRD are presented through June 30, 2017 only.
Condensed Consolidating Statements of Operations Year Ended December 31, 2016
Condensed Consolidating Statements of Operations Year Ended December 31, 2015
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantor Financial Information Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet December 31, 2017
Condensed Consolidating Balance Sheet December 31, 2016
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Guarantor Financial Information Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2017
Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2016
Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2015
|
Component: (Network and Table) | |
---|---|
Network | 100470 - Disclosure - Overview and Basis of Presentation - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureOverviewAndBasisOfPresentationAdditionalInformationDetails) |
Table | Organization Consolidation And Presentation Of Financial Statements [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | Period [Axis] | |||||||
---|---|---|---|---|---|---|---|---|
2017-08-03 - 2017-08-04 | 2017-06-20 - 2017-06-21 | 2017-03-28 - 2017-03-28 | 2017-01-01 - 2017-12-31 | 2017-01-01 - 2017-06-30 | 2016-09-29 - 2016-10-01 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Sale of Stock | ||||||||
Sale of Stock | ||||||||
Related Party | ||||||||
Related Party | ||||||||
Equity Components | ||||||||
Equity Component | ||||||||
Related Party Transaction | ||||||||
Related Party Transaction | ||||||||
Distribution of common shares during spinoff | ||||||||
Percentage of distribution of common shares during spinoff | ||||||||
Description of distribution of common shares during spinoff | ||||||||
Proceeds from the issuance of common stock | 18,800,000 | 0 | 0 | |||||
Net Sales | 1,004,900,000 | 983,500,000 | 1,049,500,000 | |||||
Sale of Stock | ||||||||
Sale of Stock | ||||||||
Related Party | ||||||||
Related Party | ||||||||
Equity Components | ||||||||
Equity Component | ||||||||
Related Party Transaction | ||||||||
Transition Services Agreements | ||||||||
Intercompany agreements, description | ||||||||
Term of agreement | ||||||||
Sale of Stock | ||||||||
Sale of Stock | ||||||||
Related Party | ||||||||
Related Party | ||||||||
Equity Components | ||||||||
Equity Component | ||||||||
Related Party Transaction | ||||||||
Commercial and Other Arrangements | ||||||||
Intercompany agreements, description | ||||||||
Term of agreement | ||||||||
Sale of Stock | ||||||||
Sale of Stock | ||||||||
Related Party | ||||||||
Related Party | ||||||||
Equity Components | ||||||||
Common Stock | ||||||||
Related Party Transaction | ||||||||
Related Party Transaction | ||||||||
Stock issued upon exercise of underwriters options | 32,400,000 | |||||||
Sale of Stock | ||||||||
Sale of Stock | ||||||||
Related Party | ||||||||
R.R. Donnelley & Sons Company | ||||||||
Equity Components | ||||||||
Equity Component | ||||||||
Related Party Transaction | ||||||||
Related Party Transaction | ||||||||
Distribution of common shares during spinoff | ||||||||
Number of common stock retained | ||||||||
Ownership percentage | ||||||||
Net pension plan liabilities | ||||||||
Total benefit plan liability | ||||||||
Decrease to the fair value of plan assets | ( | |||||||
Plan assets, fair market value | ||||||||
Net other postretirement benefit liability | ||||||||
Sale of Stock | ||||||||
Sale of Stock | ||||||||
Related Party | ||||||||
RRD and Affiliates | ||||||||
Equity Components | ||||||||
Equity Component | ||||||||
Related Party Transaction | ||||||||
Related Party Transaction | ||||||||
Net Sales | 8,300,000 | 19,400,000 | 7,800,000 | |||||
Cost of sales | ||||||||
Sale of Stock | ||||||||
Underwritten Public Offering | ||||||||
Related Party | ||||||||
R.R. Donnelley & Sons Company | ||||||||
Equity Components | ||||||||
Equity Component | ||||||||
Related Party Transaction | ||||||||
Related Party Transaction | ||||||||
Number of common stock sold | ||||||||
Proceeds from the issuance of common stock | ||||||||
Sale of Stock | ||||||||
Underwritten Public Offering | ||||||||
Related Party | ||||||||
R.R. Donnelley & Sons Company | ||||||||
Equity Components | ||||||||
Common Stock | ||||||||
Related Party Transaction | ||||||||
Related Party Transaction | ||||||||
Stock issued upon exercise of underwriters options |
Component: (Network and Table) | |
---|---|
Network | 100480 - Disclosure - Significant Accounting Policies - Additional Information (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSignificantAccountingPoliciesAdditionalInformationDetail) |
Table | Significant Accounting Policies [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Significant Accounting Policies [Line Items] | Period [Axis] | ||||
---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2017-01-01 - 2017-06-30 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | 2016-10-01 | |
Property, Plant and Equipment, Type | |||||
Property, Plant and Equipment, Type | |||||
Range | |||||
Range | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
Related Party | |||||
Number of single customers comprising more than 10% of consolidated net sales | |||||
Percentage of net sales per customer, maximum | |||||
Annual goodwill impairment testing date | |||||
Property, Plant and Equipment, Type | |||||
Property, Plant and Equipment, Type | |||||
Range | |||||
Range | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
R.R. Donnelley & Sons Company | |||||
Net pension plan liabilities | 68,300,000 | ||||
Total benefit plan liability | 317,000,000 | ||||
Plan assets, fair market value | 248,700,000 | ||||
Decrease to the fair value of plan assets | ( | ||||
Net other postretirement benefit liability | 1,500,000 | ||||
Property, Plant and Equipment, Type | |||||
Property, Plant and Equipment, Type | |||||
Range | |||||
Range | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Computer Software, Intangible Asset | |||||
Related Party | |||||
Related Party | |||||
Amortization expense related to internally-developed software | |||||
Property, Plant and Equipment, Type | |||||
Property, Plant and Equipment, Type | |||||
Range | |||||
Maximum | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Computer Software, Intangible Asset | |||||
Related Party | |||||
Related Party | |||||
Estimated useful life of computer software | |||||
Property, Plant and Equipment, Type | |||||
Buildings | |||||
Range | |||||
Minimum | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
Related Party | |||||
Estimated useful life | |||||
Property, Plant and Equipment, Type | |||||
Buildings | |||||
Range | |||||
Maximum | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
Related Party | |||||
Estimated useful life | |||||
Property, Plant and Equipment, Type | |||||
Machinery and Equipment | |||||
Range | |||||
Minimum | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
Related Party | |||||
Estimated useful life | |||||
Property, Plant and Equipment, Type | |||||
Machinery and Equipment | |||||
Range | |||||
Maximum | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
Related Party | |||||
Estimated useful life | |||||
Property, Plant and Equipment, Type | |||||
Leasehold Improvements | |||||
Range | |||||
Maximum | |||||
Finite-Lived Intangible Assets by Major Class | |||||
Finite-Lived Intangible Assets, Major Class Name | |||||
Related Party | |||||
Related Party | |||||
Estimated useful life |
Component: (Network and Table) | |
---|---|
Network | 100490 - Disclosure - Restructuring, Impairment and Other Charges - Schedule of Restructuring, Impairment and Other Charges Recognized in Results of Operations (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRestructuringImpairmentAndOtherChargesScheduleOfRestructuringImpairmentAndOtherChargesRecognizedInResultsOfOperationsDetails) |
Table | Schedule Of Restructuring And Related Costs [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Restructuring Cost And Reserve [Line Items] | Period [Axis] | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |||||||||
Consolidation Items | Consolidation Items | Consolidation Items | |||||||||
Corporate | Consolidation Items | Corporate | Consolidation Items | Consolidation Items | |||||||
Segments | Segments | Segments | Segments | Segments | |||||||
Segments | U.S. | International | Segments | Segments | U.S. | International | Segments | U.S. | International | Segments | |
Employee Terminations | |||||||||||
Other Restructuring Charges | |||||||||||
Total Restructuring Charges | |||||||||||
Impairment | |||||||||||
Other Charges | |||||||||||
Total | 7,100,000 | 5,400,000 | 4,400,000 |
Component: (Network and Table) | |
---|---|
Network | 100500 - Disclosure - Restructuring, Impairment and Other Charges - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRestructuringImpairmentAndOtherChargesAdditionalInformationDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Restructuring And Related Activities [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Restructuring And Related Activities [Abstract] | |||
Employee termination costs | 6,400,000 | 3,700,000 | 2,300,000 |
Number of employees used to determine employee termination costs | |||
Other restructuring charges | 300,000 | 1,500,000 | 1,900,000 |
Impairment charges | 200,000 | ||
Other charges | 200,000 | 200,000 | 200,000 |
Component: (Network and Table) | |
---|---|
Network | 100510 - Disclosure - Restructuring, Impairment and Other Charges - Schedule of Changes in the Restructuring Reserve (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRestructuringImpairmentAndOtherChargesScheduleOfChangesInRestructuringReserveDetails) |
Table | Schedule Of Restructuring And Related Costs [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Restructuring Cost And Reserve [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | |||||
Restructuring Type | Restructuring Type | |||||
Employee terminations | Lease terminations and other | Type of Restructuring | Employee terminations | Lease terminations and other | Type of Restructuring | |
Balance at the beginning | ||||||
Restructuring Charges | ||||||
Reversals | ( | ( | ( | |||
Foreign Exchange and Other | ( | ( | ||||
Cash Paid | ( | ( | ( | ( | ( | ( |
Balance at the end | 1,600,000 | 3,800,000 | 5,400,000 |
Component: (Network and Table) | |
---|---|
Network | 100520 - Disclosure - Restructuring, Impairment and Other Charges - Restructuring Reserve - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRestructuringImpairmentAndOtherChargesRestructuringReserveAdditionalInformationDetails) |
Table | Schedule Of Restructuring And Related Costs [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Restructuring Cost And Reserve [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||
Restructuring Type | Restructuring Type | |||
Contract Termination | Type of Restructuring | Contract Termination | Type of Restructuring | |
Current restructuring reserve (included in accrued liabilities) | ||||
Noncurrent restructuring reserve (included in noncurrent liabilities) |
Component: (Network and Table) | |
---|---|
Network | 100530 - Disclosure - Goodwill and Other Intangible Assets - Schedule of Changes in the Carrying Amount of Goodwill by Segment (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGoodwillAndOtherIntangibleAssetsScheduleOfChangesInCarryingAmountOfGoodwillBySegmentDetails) |
Table | Schedule Of Goodwill [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Goodwill [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | |||||
Segments | Segments | |||||
U.S. | International | Segments | U.S. | International | Segments | |
Goodwill net book value, beginning balance | 446,400,000 | |||||
Foreign exchange and other adjustments | ( | ( | ||||
Goodwill net book value, ending balance | 447,400,000 | 429,200,000 | 17,200,000 | 446,400,000 |
Component: (Network and Table) | |
---|---|
Network | 100540 - Disclosure - Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGoodwillAndOtherIntangibleAssetsComponentsOfOtherIntangibleAssetsDetail) |
Table | Schedule Of Finite Lived Intangible Assets [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Finite Lived Intangible Assets [Line Items] | Period [Axis] | |||||||
---|---|---|---|---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||||||
Finite-Lived Intangible Assets by Major Class | Finite-Lived Intangible Assets by Major Class | |||||||
Customer Relationships | Trade Names | Trademarks, Licenses and Agreements | Finite-Lived Intangible Assets, Major Class Name | Customer Relationships | Trade Names | Trademarks, Licenses and Agreements | Finite-Lived Intangible Assets, Major Class Name | |
Gross Carrying Amount | ||||||||
Accumulated Amortization | ( | ( | ( | ( | ( | ( | ( | |
Net Book Value | 39,900,000 | 54,300,000 |
Component: (Network and Table) | |
---|---|
Network | 100550 - Disclosure - Goodwill and Other Intangible Assets - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGoodwillAndOtherIntangibleAssetsAdditionalInformationDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Goodwill And Intangible Assets Disclosure [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||
Amortization expense for other intangible assets |
Component: (Network and Table) | |
---|---|
Network | 100560 - Disclosure - Goodwill and Other Intangible Assets - Schedule of Estimated Annual Amortization Expense Related to Other Intangible Assets (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGoodwillAndOtherIntangibleAssetsScheduleOfEstimatedAnnualAmortizationExpenseRelatedToOtherIntangibleAssetsDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Goodwill And Intangible Assets Disclosure [Abstract] | Period [Axis] |
---|---|
2017-12-31 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2018 | |
2019 | |
2020 | |
2021 | |
2022 | |
2023 and thereafter | |
Total |
Component: (Network and Table) | |
---|---|
Network | 100570 - Disclosure - Accounts Receivable - Transactions Affecting Allowance for Doubtful Accounts (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureAccountsReceivableTransactionsAffectingAllowanceForDoubtfulAccountsDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Receivables [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Receivables [Abstract] | |||
Balance, beginning of year | 6,400,000 | ||
Provisions charged to expense | |||
Write-offs and other | ( | ( | |
Balance, end of year | 7,300,000 | 6,400,000 | 4,600,000 |
Component: (Network and Table) | |
---|---|
Network | 100580 - Disclosure - Inventories - Components of Inventories (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureInventoriesComponentsOfInventoriesDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Inventory Net [Abstract] | Period [Axis] | |
---|---|---|
2017-12-31 | 2016-12-31 | |
Inventory Net [Abstract] | ||
Raw materials and manufacturing supplies | ||
Work in process | ||
Finished goods | ||
Total | 23,300,000 | 24,100,000 |
Component: (Network and Table) | |
---|---|
Network | 100590 - Disclosure - Property, Plant and Equipment - Components of Company's Property, Plant and Equipment (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosurePropertyPlantAndEquipmentComponentsOfCompanySPropertyPlantAndEquipmentDetails) |
Table | Schedule Of Property Plant And Equipment [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Property Plant And Equipment [Line Items] | Period [Axis] | |||||||
---|---|---|---|---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||||||
Property, Plant and Equipment, Type | Property, Plant and Equipment, Type | |||||||
Land | Buildings | Machinery and Equipment | Property, Plant and Equipment, Type | Land | Buildings | Machinery and Equipment | Property, Plant and Equipment, Type | |
Property, plant and equipment, gross | ||||||||
Less: Accumulated depreciation | ( | ( | ||||||
Total | 34,700,000 | 35,500,000 |
Component: (Network and Table) | |
---|---|
Network | 100600 - Disclosure - Property, Plant and Equipment - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosurePropertyPlantAndEquipmentAdditionalInformationDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Property Plant And Equipment [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Property Plant And Equipment [Abstract] | |||
Depreciation expense |
Component: (Network and Table) | |
---|---|
Network | 100610 - Disclosure - Accrued Liabilities - Components of Accrued Liabilities (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureAccruedLiabilitiesComponentsOfAccruedLiabilitiesDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accrued Liabilities Current [Abstract] | Period [Axis] | |
---|---|---|
2017-12-31 | 2016-12-31 | |
Accrued Liabilities Current [Abstract] | ||
Employee-related liabilities | ||
Customer-related liabilities | ||
Accrued interest payable | ||
Restructuring liabilities | 2,700,000 | 3,700,000 |
Other | ||
Total accrued liabilities | 119,200,000 | 100,700,000 |
Component: (Network and Table) | |
---|---|
Network | 100620 - Disclosure - Commitments and Contingencies - Additional Information (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureCommitmentsAndContingenciesAdditionalInformationDetail) |
Table | Other Commitments [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Other Commitments [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||
Restructuring Type | Restructuring Type | Restructuring Type | ||
Employee terminations | Type of Restructuring | Type of Restructuring | Type of Restructuring | |
Commitments for the purchase of property, plant and equipment related to incomplete projects | ||||
Commitments for outsourced services, professional, maintenance and other services | ||||
Severance commitments related to restructuring | ||||
Operating lease commitments | ||||
Minimum non-cancelable sublease rental commitments | ||||
Rent expense |
Component: (Network and Table) | |
---|---|
Network | 100630 - Disclosure - Commitments and Contingencies - Future Minimum Rental Commitments Under Operating Lease (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureCommitmentsAndContingenciesFutureMinimumRentalCommitmentsUnderOperatingLeaseDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Commitments And Contingencies Disclosure [Abstract] | Period [Axis] |
---|---|
2017-12-31 | |
Commitments And Contingencies Disclosure [Abstract] | |
2018 | |
2019 | |
2020 | |
2021 | |
2022 | |
2023 and thereafter | |
Future minimum rental commitments under operating leases | 100,400,000 |
Component: (Network and Table) | |
---|---|
Network | 100640 - Disclosure - Retirement Plans - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansAdditionalInformationDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | ||||
---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2017-01-01 - 2017-06-30 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | 2016-10-01 | |
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Retirement Plan Type | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Net pension income | |||||
Pension income allocated to RRD and RRD related parties | |||||
Pension and postretirement contributions | 2,200,000 | 1,100,000 | 0 | ||
Defined benefit plan, accumulated benefit obligation | |||||
Threshold for recognition in net periodic benefit costs, percentage of projected benefit obligation or fair value of plan assets | |||||
Total expense attributable to defined contribution retirement savings plan, employer contribution | |||||
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Retirement Plan Type | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multi-Employer Pension Plans | |||||
Number of multi-employer Pension plans withdrawn from | |||||
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Retirement Plan Type | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Multi-employer pension plan withdrawal obligations | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Other Charges | |||||
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Retirement Plan Type | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Investments | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Target asset allocation percentage | |||||
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Retirement Plan Type | |||||
Defined Benefit Plan, Asset Categories | |||||
Return Seeking Securities | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Target asset allocation percentage | |||||
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Other Postretirement Benefit Plan | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Pension cost and other postretirement benefits | |||||
Net pension plan liabilities | |||||
Total benefit plan liability | |||||
Plan assets, fair market value | |||||
Pension and postretirement contributions | |||||
Pension and other postretirement expected contributions for next year | |||||
Related Party | |||||
Related Party | |||||
Retirement Plan Type | |||||
Pension Plan | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Pension cost and other postretirement benefits | |||||
Net pension plan liabilities | |||||
Total benefit plan liability | |||||
Plan assets, fair market value | |||||
Net pension income | ( | ( | ( | ||
Pension income allocated to RRD and RRD related parties | |||||
Pension and postretirement contributions | |||||
Pension and other postretirement expected contributions for next year | |||||
Related Party | |||||
R.R. Donnelley & Sons Company | |||||
Retirement Plan Type | |||||
Retirement Plan Type | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Pension cost and other postretirement benefits | |||||
Net pension plan liabilities | 68,300,000 | ||||
Total benefit plan liability | 317,000,000 | ||||
Plan assets, fair market value | 248,700,000 | ||||
Decrease to the fair value of plan assets | (700,000) | ||||
Net other postretirement benefit liability | 1,500,000 | ||||
Related Party | |||||
R.R. Donnelley & Sons Company | |||||
Retirement Plan Type | |||||
Other Postretirement Benefit Plan | |||||
Defined Benefit Plan, Asset Categories | |||||
Plan Asset Categories | |||||
Hedging Relationship | |||||
Hedging Relationship | |||||
Loss Contingency Nature | |||||
Loss Contingency, Nature | |||||
Multiemployer Plan Type | |||||
Multiemployer Plans Type | |||||
Pension cost and other postretirement benefits |
Component: (Network and Table) | |
---|---|
Network | 100650 - Disclosure - Retirement Plans - Components of Estimated Net Pension Plan Income (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansComponentsOfEstimatedNetPensionPlanIncomeDetail) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||
Retirement Plan Type | Retirement Plan Type | Retirement Plan Type | ||||
Pension Plan | Retirement Plan Type | Pension Plan | Retirement Plan Type | Pension Plan | Retirement Plan Type | |
Interest cost | ||||||
Expected return on plan assets | ( | ( | ( | |||
Amortization of actuarial loss | ||||||
Net periodic benefit income | (3,300,000) | 3,300,000 | (1,000,000) | 1,000,000 | (27,000,000) | 27,000,000 |
Income allocated to RRD affiliates | 25,200,000 | 25,200,000 | ||||
Net periodic benefit income, net of allocation | ( | ( | ( | |||
Weighted average assumption used to calculate net periodic benefit expense: | ||||||
Discount rate | ||||||
Expected return on plan assets |
Component: (Network and Table) | |
---|---|
Network | 100660 - Disclosure - Retirement Plans - Reconciliation of Funded Status (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansReconciliationOfFundedStatusDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||
Retirement Plan Type | Retirement Plan Type | Retirement Plan Type | ||||
Pension Plan | Other Postretirement Benefit Plan | Pension Plan | Other Postretirement Benefit Plan | Pension Plan | Other Postretirement Benefit Plan | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ||||||
Benefit obligation at beginning of year | 293,300,000 | 1,200,000 | 3,200,000 | 0 | ||
Interest cost | 10,600,000 | 2,400,000 | 147,300,000 | |||
Actuarial loss (gain) | ( | ( | ||||
Plan transfer | ||||||
Foreign currency translation | ||||||
Benefits paid | (16,900,000) | (100,000) | (4,600,000) | 0 | ||
Benefit obligation at end of year | 309,900,000 | 1,200,000 | 293,300,000 | 1,200,000 | 3,200,000 | 0 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||||||
Fair value of plan assets at beginning of year | 235,800,000 | 0 | 0 | 0 | ||
Actual return on assets | ( | |||||
Employer contributions | ||||||
Plan transfer | ( | |||||
Benefits paid | ( | ( | ( | |||
Fair value of plan assets at end of year | 256,400,000 | 0 | 235,800,000 | 0 | 0 | 0 |
Funded status at end of year | (53,500,000) | (1,200,000) | (57,500,000) | (1,200,000) |
Component: (Network and Table) | |
---|---|
Network | 100670 - Disclosure - Retirement Plans - Amount Recognized on Consolidated and Combined Balance Sheets (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansAmountRecognizedOnConsolidatedAndCombinedBalanceSheetsDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||||
Retirement Plan Type | Retirement Plan Type | |||||
Pension Plan | Other Postretirement Benefit Plan | Retirement Plan Type | Pension Plan | Other Postretirement Benefit Plan | Retirement Plan Type | |
Accrued benefit cost (included in accrued liabilities) | ( | (119,200,000) | ( | ( | (100,700,000) | |
Pension and other postretirement benefits plan liabilities | ( | ( | (52,500,000) | ( | ( | (56,400,000) |
Net liabilities recognized in the Consolidated Balance Sheets | ( | ( | ( | ( |
Component: (Network and Table) | |
---|---|
Network | 100680 - Disclosure - Retirement Plans - Amounts in Accumulated Other Comprehensive Loss (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansAmountsInAccumulatedOtherComprehensiveLossDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||
Retirement Plan Type | Retirement Plan Type | |||
Pension Plan | Other Postretirement Benefit Plan | Pension Plan | Other Postretirement Benefit Plan | |
Net actuarial (loss) gain | ( | ( | ||
Total | ( | ( |
Component: (Network and Table) | |
---|---|
Network | 100690 - Disclosure - Retirement Plans - Amounts Recognized in Other Comprehensive Income (Loss) (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansAmountsRecognizedInOtherComprehensiveIncomeLossDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Retirement Plan Type | Pension Plan |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] |
---|---|
2017-01-01 - 2017-12-31 | |
Amortization of: | |
Net actuarial loss | |
Amounts arising during the period: | |
Net actuarial loss | ( |
Total | ( |
Component: (Network and Table) | |
---|---|
Network | 100700 - Disclosure - Retirement Plans - Schedule of Accumulated Other Comprehensive Loss Expected to Recognized as Components of Net Periodic Benefit Costs (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansScheduleOfAccumulatedOtherComprehensiveLossExpectedToRecognizedAsComponentsOfNetPeriodicBenefitCostsDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Retirement Plan Type | Pension Plan |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] |
---|---|
2017-12-31 | |
Amortization of: | |
Net actuarial loss | |
Total |
Component: (Network and Table) | |
---|---|
Network | 100710 - Disclosure - Retirement Plans - Weighted Average Assumptions Used to Determine Benefit Obligation (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansWeightedAverageAssumptionsUsedToDetermineBenefitObligationDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-12-31 | 2016-12-31 | |||
Retirement Plan Type | Retirement Plan Type | |||
Pension Plan | Other Postretirement Benefit Plan | Pension Plan | Other Postretirement Benefit Plan | |
Discount rate |
Component: (Network and Table) | |
---|---|
Network | 100720 - Disclosure - Retirement Plans - Summary of Projected Benefit Obligations in Excess of Plan Assets (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansSummaryOfProjectedBenefitObligationsInExcessOfPlanAssetsDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Retirement Plan Type | Pension Plan |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |
---|---|---|
2017-12-31 | 2016-12-31 | |
Projected benefit obligation | ||
Fair value of plan assets |
Component: (Network and Table) | |
---|---|
Network | 100730 - Disclosure - Retirement Plans - Expected Benefit Payments (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansExpectedBenefitPaymentsDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | |
---|---|---|
2017-12-31 | ||
Retirement Plan Type | ||
Pension Plan | Other Postretirement Benefit Plan | |
2018 | ||
2019 | ||
2020 | ||
2021 | ||
2022 | ||
2023-2027 |
Component: (Network and Table) | |
---|---|
Network | 100740 - Disclosure - Retirement Plans - Allocation of Plan Assets, Pension Plan (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRetirementPlansAllocationOfPlanAssetsPensionPlanDetails) |
Table | Schedule Of Defined Benefit Plans Disclosures [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Retirement Plan Type | Pension Plan |
Defined Benefit Plan Disclosure [Line Items] | Period [Axis] | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-12-31 | 2016-12-31 | 2015-12-31 | |||||||||||||||||||||||||||||
Defined Benefit Plan, Asset Categories | Defined Benefit Plan, Asset Categories | Defined Benefit Plan, Asset Categories | |||||||||||||||||||||||||||||
Cash and Cash Equivalents | Equity | Fixed Income | Equity Funds Measured at NAV | Plan Asset Categories | Cash and Cash Equivalents | Equity | Fixed Income | Equity Funds Measured at NAV | Plan Asset Categories | Plan Asset Categories | |||||||||||||||||||||
Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | Fair Value, Hierarchy | |||||||||||||||||||||
Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value, Inputs, Level 1 | Fair Value, Inputs, Level 2 | Fair Value Hierarchy | Fair Value Hierarchy | |
Fair value of the company's benefit plan assets | 256,400,000 | 235,800,000 | 0 |
Component: (Network and Table) | |
---|---|
Network | 100750 - Disclosure - Income Taxes - Components of Earnings From Operations Before Income Taxes (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesComponentsOfEarningsFromOperationsBeforeIncomeTaxesDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Income Tax Disclosure [Abstract] | |||
Components Of Income Tax Expense Benefit Continuing Operations [Abstract] | |||
U.S. | |||
Foreign | |||
Earnings before income taxes | 56,200,000 | 94,300,000 | 171,700,000 |
Component: (Network and Table) | |
---|---|
Network | 100760 - Disclosure - Income Taxes - Components of Income Tax Expense (Benefit) From Operations (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesComponentsOfIncomeTaxExpenseBenefitFromOperationsDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Income Tax Disclosure [Abstract] | |||
Components Of Income Tax Expense Benefit Continuing Operations [Abstract] | |||
U.S. Federal, Current | |||
U.S. State and Local, Current | |||
Foreign, Current | |||
Current income tax expense | |||
U.S. Federal, Non-Current | |||
U.S. State and Local, Non-Current | |||
Non-current income tax expense | |||
U.S. Federal, Deferred | ( | ||
U.S. State and Local, Deferred | ( | ( | |
Foreign, Deferred | ( | ( | ( |
Deferred income tax expense (benefit) | 12,400,000 | (5,900,000) | 10,200,000 |
Total | 46,500,000 | 35,200,000 | 67,400,000 |
Component: (Network and Table) | |
---|---|
Network | 100770 - Disclosure - Income Taxes - Reconciliation From U.S. Federal Statutory Tax Rate to Effective Tax Rate (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesReconciliationFromUSFederalStatutoryTaxRateToEffectiveTaxRateDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract] | |||
Federal statutory tax rate | |||
Federal and state transition tax on foreign earnings | |||
Tax Act revaluation of U.S. net deferred tax assets | |||
State and local income taxes, net of U.S. federal income tax benefit | |||
Non-deductible expenses | |||
Changes in valuation allowances | ( | ||
Adjustment of uncertain tax positions and interest | ( | ||
Domestic manufacturing deduction | ( | ( | ( |
Foreign tax rate differential | ( | ( | ( |
Other | ( | ||
Effective income tax rate |
Component: (Network and Table) | |
---|---|
Network | 100780 - Disclosure - Income Taxes - Additional Information (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesAdditionalInformationDetail) |
Table | Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Statement [Line Items] | Period [Axis] | ||||
---|---|---|---|---|---|
2018-01-01 - 2018-01-01 | 2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | 2014-12-31 | |
Subsequent Event Type | |||||
Subsequent Event Type | |||||
Income Tax Authority | |||||
Income Tax Authority | |||||
Range | |||||
Range | |||||
Income tax rate | 35.00% | 35.00% | 35.00% | ||
Reduction of net deferred tax asset recorded as additional deferred income tax expense | |||||
Percentage of income tax rate increase resulting in additional deferred income tax expense | 14.80% | 0.00% | 0.00% | ||
Percentage of tax payable on portion of earnings that are in cash and cash equivalents | |||||
Percentage of tax payable on portion of earnings that are in non-cash and non-cash equivalent assets | |||||
Income tax expense | 46,500,000 | 35,200,000 | 67,400,000 | ||
Percentage of income tax rate increase due to transition tax on foreign earnings | 25.30% | 0.00% | 0.00% | ||
Domestic and foreign net operating loss | |||||
Net operating loss expiring between 2018 and 2027 | |||||
Cash payments for income taxes | |||||
Current tax settled with RRD | |||||
Cash refunds for income taxes | |||||
Unrecognized tax benefits | |||||
Unrecognized tax benefits that would impact effective tax rate | |||||
Amount of unrecognized tax benefit expected to decrease within twelve months | |||||
Total interest expense/(benefit), net of tax benefits related to tax uncertainties | ( | ||||
Benefits from reversal of accrued penalties | |||||
Accrued interest related to income tax uncertainties | |||||
Accrued penalties related to income tax uncertainties | |||||
Subsequent Event Type | |||||
Subsequent Event Type | |||||
Income Tax Authority | |||||
Income Tax Authority | |||||
Range | |||||
Minimum | |||||
Net operating loss carryforwards expiration year | |||||
Subsequent Event Type | |||||
Subsequent Event Type | |||||
Income Tax Authority | |||||
Income Tax Authority | |||||
Range | |||||
Maximum | |||||
Net operating loss carryforwards expiration year | |||||
Subsequent Event Type | |||||
Subsequent Event Type | |||||
Income Tax Authority | |||||
Federal and State | |||||
Range | |||||
Range | |||||
Income tax expense | |||||
Percentage of income tax rate increase due to transition tax on foreign earnings | |||||
Term required to pay transition tax liability | |||||
Noncurrent taxes payable | |||||
Current taxes payable | |||||
Subsequent Event Type | |||||
Subsequent Event | |||||
Income Tax Authority | |||||
Income Tax Authority | |||||
Range | |||||
Range | |||||
Income tax rate |
Component: (Network and Table) | |
---|---|
Network | 100790 - Disclosure - Income Taxes - Schedule of Significant Deferred Tax Assets And Liabilities (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesScheduleOfSignificantDeferredTaxAssetsAndLiabilitiesDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | |
---|---|---|
2017-12-31 | 2016-12-31 | |
Income Tax Disclosure [Abstract] | ||
Components Of Deferred Tax Assets And Liabilities [Abstract] | ||
Pension and other postretirement benefit plans liabilities | ||
Accrued liabilities | ||
Net operating losses and other tax carryforwards | 10,100,000 | 14,400,000 |
Allowance for doubtful accounts | ||
Share-based compensation | ||
Other | ||
Total deferred tax assets | ||
Valuation allowances | ( | ( |
Total deferred tax assets | ||
Other intangible assets | ( | ( |
Accelerated depreciation | ( | ( |
Other | ( | ( |
Total deferred tax liabilities | ( | ( |
Net deferred tax assets |
Component: (Network and Table) | |
---|---|
Network | 100800 - Disclosure - Income Taxes - Schedule of Transactions Affecting Valuation Allowance on Deferred Tax Assets (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesScheduleOfTransactionsAffectingValuationAllowanceOnDeferredTaxAssetsDetail) |
Table | Valuation Allowance [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Valuation Allowances and Reserves Type | Valuation Allowance of Deferred Tax Assets |
Valuation Allowance [Line Items] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Balance, beginning of year | |||
Current year expense (benefit)-net | ( | ||
Write-offs | ( | ||
Foreign exchange and other | ( | ||
Balance, end of year | 1,200,000 | 4,900,000 |
Component: (Network and Table) | |
---|---|
Network | 100810 - Disclosure - Income Taxes - Unrecognized Tax Benefits (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureIncomeTaxesUnrecognizedTaxBenefitsDetail) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Income Tax Disclosure [Abstract] | |||
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward | |||
Balance at beginning of year | 1,900,000 | 1,000,000 | 700,000 |
Additions for tax positions of the current year | |||
Additions for tax positions of prior years | |||
Settlements during the year | ( | ||
Releases | ( | ||
Balance at end of year | 300,000 | 1,900,000 | 1,000,000 |
Component: (Network and Table) | |
---|---|
Network | 100820 - Disclosure - Debt - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtAdditionalInformationDetails) |
Table | Debt Instrument [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Debt Instrument [Line Items] | Period [Axis] | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-10-02 - 2017-10-02 | 2017-08-03 - 2017-08-04 | 2017-06-20 - 2017-06-21 | 2017-04-03 - 2017-04-03 | 2017-03-28 - 2017-03-28 | 2017-01-01 - 2017-12-31 | 2016-09-29 - 2016-09-30 | 2016-01-01 - 2016-12-31 | 2016-01-01 - 2016-09-30 | 2015-01-01 - 2015-12-31 | 2017-04-25 | 2016-10-01 | |
Credit Facility | ||||||||||||
Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Stock issued upon exercise of underwriters options | ||||||||||||
Outstanding letters of credit and bank guarantees | ||||||||||||
Interest paid | ||||||||||||
Credit Facility | ||||||||||||
Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Senior Notes | ||||||||||||
Interest payment period | ||||||||||||
Commencement of interest payment | ||||||||||||
Credit Facility | ||||||||||||
Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
8.25% Senior Notes Due October 15, 2024 | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Senior Unsecured notes | 300,000,000 | |||||||||||
Interest rate, stated percentage | 8.25% | |||||||||||
Maturity date | ||||||||||||
Fair value of senior notes | ||||||||||||
Credit Facility | ||||||||||||
Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
R.R. Donnelley & Sons Company | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Repayments of debt | ||||||||||||
Number of common stock retained | 100,000 | 100,000 | 6,200,000 | |||||||||
Credit Facility | ||||||||||||
Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
R.R. Donnelley & Sons Company | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Underwritten Public Offering | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Number of common stock sold | 100,000 | 6,100,000 | 6,200,000 | |||||||||
Stock issued upon exercise of underwriters options | ||||||||||||
Proceeds from sale of options exercised | ||||||||||||
Credit Facility | ||||||||||||
Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
R.R. Donnelley & Sons Company | ||||||||||||
Related Party Transaction | ||||||||||||
Separation and Distribution Agreement | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Cash payment received from RR Donnelley | ||||||||||||
Credit Facility | ||||||||||||
Senior Secured Term Loan B Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Credit facility | 350,000,000 | |||||||||||
Borrowings | ||||||||||||
Credit Facility | ||||||||||||
Senior Secured Term Loan B Facility | ||||||||||||
Variable Rate | ||||||||||||
LIBOR | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Debt instrument interest rate basis spread on variable rate decrease | ||||||||||||
Debt instrument, basis spread on variable rate | ||||||||||||
Debt instrument, interest rate basis spread on floor rate decrease | ||||||||||||
Debt instrument floor rate | ||||||||||||
Credit Facility | ||||||||||||
Revolving Credit Facility | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Credit facility | 300,000,000 | |||||||||||
Borrowings | ||||||||||||
Weighted average interest rate on borrowings | ||||||||||||
Letters of credit outstanding reduced to available under credit agreement amount | ||||||||||||
Credit Facility | ||||||||||||
Credit Agreement | ||||||||||||
Variable Rate | ||||||||||||
Variable Rate | ||||||||||||
Related Party | ||||||||||||
Related Party | ||||||||||||
Related Party Transaction | ||||||||||||
Related Party Transaction | ||||||||||||
Sale of Stock | ||||||||||||
Sale of Stock | ||||||||||||
Debt Instrument | ||||||||||||
Debt Instrument, Name | ||||||||||||
Long-term Debt, Type | ||||||||||||
Long-term Debt, Type | ||||||||||||
Allowable annual dividend payment under credit agreement | 15,000,000 |
Component: (Network and Table) | |
---|---|
Network | 100830 - Disclosure - Debt - Schedule of the Company's Debt (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtScheduleOfCompanySDebtDetails) |
Table | Debt Instrument [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Debt Instrument [Line Items] | Period [Axis] | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
2017-12-31 | 2017-04-25 | 2016-12-31 | 2016-09-30 | |||||||
Credit Facility | Credit Facility | Credit Facility | Credit Facility | |||||||
Senior Secured Term Loan B Facility | Revolving Credit Facility | Credit Facility | Credit Facility | Senior Secured Term Loan B Facility | Revolving Credit Facility | Credit Facility | Credit Facility | |||
Debt Instrument | Debt Instrument | Debt Instrument | Debt Instrument | Debt Instrument | Debt Instrument | Debt Instrument | Debt Instrument | |||
Debt Instrument, Name | Debt Instrument, Name | 8.25% Senior Notes Due October 15, 2024 | Debt Instrument, Name | 8.25% Senior Notes Due October 15, 2024 | Debt Instrument, Name | Debt Instrument, Name | 8.25% Senior Notes Due October 15, 2024 | Debt Instrument, Name | 8.25% Senior Notes Due October 15, 2024 | |
Senior Unsecured notes | 300,000,000 | 299,900,000 | 300,000,000 | 300,000,000 | ||||||
Credit facility | 168,600,000 | 0 | 298,300,000 | 0 | ||||||
Unamortized debt issuance costs | ( | ( | ||||||||
Total debt | ||||||||||
Less: current portion | ||||||||||
Long-term debt | 458,300,000 | 587,000,000 |
Component: (Network and Table) | |
---|---|
Network | 100840 - Disclosure - Debt - Schedule of the Company's Debt (Details)2 (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtScheduleOfCompanySDebtDetails2) |
Table | (Implied) |
Component: (Network and Table) | |
---|---|
Network | 100850 - Disclosure - Debt - Schedule of the Company's Debt (Parenthetical) (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtScheduleOfCompanySDebtParentheticalDetails) |
Table | Debt Instrument [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Debt Instrument | 8.25% Senior Notes Due October 15, 2024 |
Debt Instrument [Line Items] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-09-29 - 2016-09-30 | 2016-01-01 - 2016-12-31 | |
Interest rate, stated percentage | 8.25% | 8.25% | 8.25% |
Maturity date | 2024-10-15 | 2024-10-15 | 2024-10-15 |
Component: (Network and Table) | |
---|---|
Network | 100860 - Disclosure - Debt - Schedule of Future Maturities of Debt (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtScheduleOfFutureMaturitiesOfDebtDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Long Term Debt By Maturity [Abstract] | Period [Axis] |
---|---|
2017-12-31 | |
Long Term Debt By Maturity [Abstract] | |
2018 | |
2019 | |
2020 | |
2021 | |
2022 | |
2022 and thereafter | |
Total |
Component: (Network and Table) | |
---|---|
Network | 100870 - Disclosure - Debt - Schedule of Future Maturities of Debt (Parenthetical) (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtScheduleOfFutureMaturitiesOfDebtParentheticalDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Long Term Debt By Maturity [Abstract] | Period [Axis] | |
---|---|---|
2017-12-31 | 2016-12-31 | |
Long Term Debt By Maturity [Abstract] | ||
Unamortized debt issuance cost | 10,300,000 | 11,300,000 |
Discount on senior notes |
Component: (Network and Table) | |
---|---|
Network | 100880 - Disclosure - Debt - Summary of Interest Expense (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureDebtSummaryOfInterestExpenseDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Debt Instruments [Abstract] | Period [Axis] | ||
---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Debt Instruments [Abstract] | |||
Interest incurred | |||
Less: interest capitalized as property, plant and equipment | ( | ( | |
Interest expense, net |
Component: (Network and Table) | |
---|---|
Network | 100890 - Disclosure - Earnings per Share - Additional Information (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureEarningsPerShareAdditionalInformationDetail) |
Table | Earnings Per Share [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Earnings Per Share [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-08-03 - 2017-08-04 | 2017-06-20 - 2017-06-21 | 2017-03-28 - 2017-03-28 | 2017-01-01 - 2017-12-31 | 2016-09-29 - 2016-10-01 | 2016-01-01 - 2016-09-30 | |
Related Party | ||||||
Related Party | ||||||
Restructuring Type | ||||||
Type of Restructuring | ||||||
Sale of Stock | ||||||
Sale of Stock | ||||||
Distribution of common shares during spinoff | 26,200,000 | |||||
Related Party | ||||||
R.R. Donnelley & Sons Company | ||||||
Restructuring Type | ||||||
Type of Restructuring | ||||||
Sale of Stock | ||||||
Sale of Stock | ||||||
Distribution of common shares during spinoff | 26,200,000 | |||||
Number of common stock retained | 100,000 | 100,000 | 6,200,000 | |||
Basic and diluted common shares outstanding | ||||||
Related Party | ||||||
R.R. Donnelley & Sons Company | ||||||
Restructuring Type | ||||||
Type of Restructuring | ||||||
Sale of Stock | ||||||
Underwritten Public Offering | ||||||
Number of common stock sold | 100,000 | 6,100,000 | 6,200,000 | |||
Related Party | ||||||
R.R. Donnelley & Sons Company | ||||||
Restructuring Type | ||||||
Spinoff | ||||||
Sale of Stock | ||||||
Sale of Stock | ||||||
Number of common stock retained | ||||||
Common stock received during spinoff, description | ||||||
Conversion ratio of common stock received during spinoff |
Component: (Network and Table) | |
---|---|
Network | 100900 - Disclosure - Earnings per Share - Reconciliation of Numerator and Denominator of Basic and Diluted Earnings per Share Calculation and Anti-dilutive Share-based Awards (Detail) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureEarningsPerShareReconciliationOfNumeratorAndDenominatorOfBasicAndDilutedEarningsPerShareCalculationAndAntiDilutiveShareBasedAwardsDetail) |
Table | Earnings Per Share Basic And Diluted [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Earnings Per Share Basic And Diluted [Line Items] | Period [Axis] | ||||||||
---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |||||||
Antidilutive Securities | Antidilutive Securities | Antidilutive Securities | |||||||
Restricted stock units | Stock options | Antidilutive Securities, Name | Restricted stock units | Stock options | Antidilutive Securities, Name | Restricted stock units | Stock options | Antidilutive Securities, Name | |
Basic | .29 | 1.81 | 3.22 | ||||||
Diluted | .29 | 1.80 | 3.22 | ||||||
Net earnings | 9,700,000 | 59,100,000 | 104,300,000 | ||||||
Weighted average number of common shares outstanding | 33,100,000 | 32,600,000 | 32,400,000 | ||||||
Dilutive awards | |||||||||
Diluted weighted average number of common shares outstanding | 33,300,000 | 32,800,000 | 32,400,000 | ||||||
Total weighted average number of anti-dilutive share-based awards |
Component: (Network and Table) | |
---|---|
Network | 100910 - Disclosure - Share-Based Compensation - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensationAdditionalInformationDetails) |
Table | Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-09-29 - 2016-10-01 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Equity Award | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation award, description | ||||
Share-based compensation award, volume weighted average share price, measurement period | ||||
Share-based compensation | 6,800,000 | 2,500,000 | 1,600,000 | |
Share-based compensation expense, income tax benefit | ||||
Unrecognized share-based compensation expense | ||||
Unrecognized share-based compensation expense, vest over weighted-average period | ||||
Stock options granted | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
RSUs | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation award, vesting period | ||||
Share-based compensation | ||||
Unrecognized share-based compensation expense | ||||
Unrecognized share-based compensation expense, vest over weighted-average period | ||||
Unrecognized share-based compensation expense, expected to vest, Shares | ||||
Unrecognized share-based compensation expense, weighted-average grant date fair value | ||||
Share-based compensation award, granted | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
RSUs | ||||
Vesting | ||||
Share-based Compensation Award, Tranche One | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation award, vesting period | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
RSUs | ||||
Vesting | ||||
Share-based Compensation Award, Tranche Two | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation award, vesting period | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Stock Options | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation award, vesting period | ||||
Share-based compensation | ||||
Unrecognized share-based compensation expense | ||||
Unrecognized share-based compensation expense, vest over weighted-average period | ||||
Stock options granted | ||||
Share-based compensation award, weighted-average grant date fair market value | ||||
Intrinsic value of options exercised | ||||
Excess tax benefit on stock options exercises, shown as operating cash inflows | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Restricted Stock | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation | ||||
Unrecognized share-based compensation expense | ||||
Unrecognized share-based compensation expense, vest over weighted-average period | ||||
Share-based compensation award, granted | ||||
Share-based compensation expense, targeted performance percentage | ||||
Share-based compensation expense, actual performance percentage | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Restricted Stock | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Certain Executives | ||||
Share-based compensation award, granted | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Restricted Stock | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Minimum | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Potential payout for awards | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Restricted Stock | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Maximum | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Potential payout for awards | ||||
Potential payout achieved | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Performance Share Units | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Share-based compensation | ||||
Unrecognized share-based compensation expense | ||||
Unrecognized share-based compensation expense, vest over weighted-average period | ||||
Share-based compensation expense, targeted performance percentage | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Performance Share Units | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Certain Executive Officers and Senior Management | ||||
Share-based compensation award, granted | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Performance Share Units | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Minimum | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Potential payout for awards | ||||
Plan Name | ||||
Plan Name | ||||
Award Type | ||||
Performance Share Units | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Maximum | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Potential payout for awards | ||||
Plan Name | ||||
2016 PIP | ||||
Award Type | ||||
Equity Award | ||||
Vesting | ||||
Vesting | ||||
Range | ||||
Range | ||||
Title of Individual | ||||
Relationship to Entity | ||||
Common stock reserved and authorized | ||||
Shares authorized and available for grant |
Component: (Network and Table) | |
---|---|
Network | 100920 - Disclosure - Share-Based Compensation - Summary of Weighted-average Assumptions Used to Determine the Weighted-average Fair Market Value of the Stock Options Granted (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensationSummaryOfWeightedAverageAssumptionsUsedToDetermineWeightedAverageFairMarketValueOfStockOptionsGrantedDetails) |
Table | Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Award Type | Stock Options |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | Period [Axis] |
---|---|
2017-01-01 - 2017-12-31 | |
Expected volatility | |
Risk-free interest rate | |
Expected life (years) | |
Expected dividend yield |
Component: (Network and Table) | |
---|---|
Network | 100930 - Disclosure - Share-Based Compensation - Summary of Stock Option Awards Outstanding (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensationSummaryOfStockOptionAwardsOutstandingDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | Period [Axis] | |
---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Shares Under Option | ||
Outstanding at beginning of period | ||
Granted | 178,000 | |
Exercised | (16,000) | |
Cancelled/forfeited/expired | ( | |
Outstanding at end of period | 299,000 | |
Vested and expected to vest at end of period | ||
Exercisable at end of period | ||
Weighted Average Exercise Price | ||
Outstanding at beginning of period | ||
Granted | ||
Exercised | ||
Cancelled/forfeited/expired | ||
Outstanding at end of period | 21.48 | |
Vested and expected to vest at end of period | ||
Exercisable at end of period | ||
Weighted Average Remaining Contractual Term (years) | ||
Outstanding at beginning of period | ||
Granted | ||
Vested and expected to vest at end of period | ||
Exercisable at end of period | ||
Aggregate Intrinsic Value | ||
Outstanding at beginning of period | ||
Outstanding at end of period | 1,400,000 | |
Vested and expected to vest at end of period | ||
Exercisable at end of period |
Component: (Network and Table) | |
---|---|
Network | 100940 - Disclosure - Share-Based Compensation - Summary of Nonvested Restricted Stock Unit Awards (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensationSummaryOfNonvestedRestrictedStockUnitAwardsDetails) |
Table | Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Award Type | RSUs |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | Period [Axis] |
---|---|
2017-01-01 - 2017-12-31 | |
Nonvested at beginning of period, Shares | |
Granted, Shares | 276,000 |
Vested, Shares | ( |
Forfeited, Shares | ( |
Nonvested at end of period, Shares | |
Nonvested at beginning of period, Weighted Average Grant Date Fair Value | |
Granted, Weighted Average Grant Date Fair Value | |
Vested, Weighted Average Grant Date Fair Value | |
Forfeited, Weighted Average Grant Date Fair Value | |
Nonvested at end of period, Weighted Average Grant Date Fair Value |
Component: (Network and Table) | |
---|---|
Network | 100950 - Disclosure - Share-Based Compensation - Summary of Nonvested Restricted Stock Awards (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureShareBasedCompensationSummaryOfNonvestedRestrictedStockAwardsDetails) |
Table | Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Award Type | Restricted Stock |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | Period [Axis] |
---|---|
2017-01-01 - 2017-12-31 | |
Nonvested at beginning of period, Shares | |
Granted, Shares | 129,000 |
Nonvested at end of period, Shares | |
Nonvested at beginning of period, Weighted Average Grant Date Fair Value | |
Granted, Weighted Average Grant Date Fair Value | |
Nonvested at end of period, Weighted Average Grant Date Fair Value |
Component: (Network and Table) | |
---|---|
Network | 100960 - Disclosure - Preferred Stock - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosurePreferredStockAdditionalInformationDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Equity [Abstract] | Period [Axis] | |
---|---|---|
2017-12-31 | 2016-12-31 | |
Equity [Abstract] | ||
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Preferred stock, par value | 0.01 | 0.01 |
Component: (Network and Table) | |
---|---|
Network | 100970 - Disclosure - Comprehensive Income - Schedule of Components of Other Comprehensive Income and Income Tax Expense Allocated to Each Component (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureComprehensiveIncomeScheduleOfComponentsOfOtherComprehensiveIncomeAndIncomeTaxExpenseAllocatedToEachComponentDetails) |
Table | Accumulated Other Comprehensive Income Loss [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accumulated Other Comprehensive Income Loss [Line Items] | Period [Axis] | ||||||||
---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |||||||
Equity Components | Equity Components | Equity Components | |||||||
Translation adjustments | Adjustment for Net Periodic Pension Plan and Other Postretirement Benefits Plan Cost | Equity Component | Translation adjustments | Adjustment for Net Periodic Pension Plan and Other Postretirement Benefits Plan Cost | Equity Component | Translation adjustments | Adjustment for Net Periodic Pension Plan and Other Postretirement Benefits Plan Cost | Equity Component | |
Other comprehensive income, Before Tax Amount | ( | ( | ( | ||||||
Other comprehensive income, Income Tax Expense | ( | ( | |||||||
Other comprehensive income, net of tax | ( | 3,700,000 | ( | 7,000,000 | ( | 20,000,000 |
Component: (Network and Table) | |
---|---|
Network | 100980 - Disclosure - Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Loss (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureComprehensiveIncomeScheduleOfChangesInAccumulatedOtherComprehensiveLossDetails) |
Table | Accumulated Other Comprehensive Income Loss [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Accumulated Other Comprehensive Income Loss [Line Items] | Period [Axis] | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||||||||
Equity Components | Equity Components | Equity Components | ||||||||||
Pension and Other Postretirement Benefits Plan Cost | Translation adjustments | Accumulated Other Comprehensive Loss | Equity Component | Pension and Other Postretirement Benefits Plan Cost | Translation adjustments | Accumulated Other Comprehensive Loss | Equity Component | Pension and Other Postretirement Benefits Plan Cost | Translation adjustments | Accumulated Other Comprehensive Loss | Equity Component | |
Balance | ( | ( | (68,300,000) | 111,100,000 | ( | (16,000,000) | 623,500,000 | ( | ( | (673,700,000) | 351,500,000 | |
Other comprehensive income (loss) before reclassifications | ( | ( | ( | ( | ||||||||
Amounts reclassified from accumulated other comprehensive loss | ||||||||||||
Transfer of pension plan to parent company, net | ( | ( | ||||||||||
Net change in accumulated other comprehensive loss | ( | ( | ( | ( | ( | |||||||
Balance | ( | ( | (64,600,000) | 149,400,000 | (52,200,000) | (16,100,000) | (68,300,000) | 111,100,000 | 0 | (16,000,000) | (16,000,000) | 623,500,000 |
Component: (Network and Table) | |
---|---|
Network | 100990 - Disclosure - Comprehensive Income - Reclassifications from Accumulated Other Comprehensive Loss Amortization of Pension Plan Cost (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureComprehensiveIncomeReclassificationsFromAccumulatedOtherComprehensiveLossAmortizationOfPensionPlanCostDetails) |
Table | Reclassification Out Of Accumulated Other Comprehensive Income [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||
Equity Components | Equity Components | Equity Components | ||||
Accumulated Defined Benefit Plans Adjustment, Net Actuarial Income | Pension and Other Postretirement Benefits Plan Cost | Accumulated Defined Benefit Plans Adjustment, Net Actuarial Income | Pension and Other Postretirement Benefits Plan Cost | Accumulated Defined Benefit Plans Adjustment, Net Actuarial Income | Pension and Other Postretirement Benefits Plan Cost | |
Amortization of pension and other postretirement benefits plan cost: Reclassifications before tax | ||||||
Income tax expense | ||||||
Reclassifications, net of tax |
Component: (Network and Table) | |
---|---|
Network | 101000 - Disclosure - Segment Information - Schedule of Segment Reporting Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSegmentInformationScheduleOfSegmentReportingInformationDetails) |
Table | Schedule Of Segment Reporting Information By Segment [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Segment Reporting Information [Line Items] | Period [Axis] | |||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||||||||||||||||||||||||||
Segments | Segments | Segments | ||||||||||||||||||||||||||||
U.S. | International | Segments | U.S. | International | Segments | U.S. | International | Segments | ||||||||||||||||||||||
Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | ||||||||||||||||||||||
Total Operating Segments | Intersegment Sales | Consolidation Items | Total Operating Segments | Intersegment Sales | Consolidation Items | Total Operating Segments | Intersegment Sales | Corporate | Consolidation Items | Total Operating Segments | Intersegment Sales | Consolidation Items | Total Operating Segments | Intersegment Sales | Consolidation Items | Total Operating Segments | Intersegment Sales | Corporate | Consolidation Items | Total Operating Segments | Intersegment Sales | Consolidation Items | Total Operating Segments | Intersegment Sales | Consolidation Items | Total Operating Segments | Intersegment Sales | Corporate | Consolidation Items | |
Net Sales | ( | ( | ( | 1,004,900,000 | ( | ( | ( | 983,500,000 | ( | ( | ( | 1,049,500,000 | ||||||||||||||||||
Income (Loss) from Operations | ( | 99,000,000 | ( | 106,000,000 | ( | 172,700,000 | ||||||||||||||||||||||||
Assets of Operations | 893,500,000 | 978,900,000 | ||||||||||||||||||||||||||||
Depreciation and amortization | 44,500,000 | 43,300,000 | 41,700,000 | |||||||||||||||||||||||||||
Capital Expenditures | 27,800,000 | 26,200,000 | 27,100,000 |
Component: (Network and Table) | |
---|---|
Network | 101010 - Disclosure - Segment Information - Schedule of Corporate Assets (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureSegmentInformationScheduleOfCorporateAssetsDetails) |
Table | Schedule Of Segment Reporting Information By Segment [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Segment Reporting Information [Line Items] | Period [Axis] | |||||
---|---|---|---|---|---|---|
2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | |||
Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | |||
Corporate | Consolidation Items | Corporate | Consolidation Items | Consolidation Items | Consolidation Items | |
Cash and cash equivalents | 52,000,000 | 36,200,000 | 15,100,000 | 28,600,000 | ||
Software, net | 41,100,000 | 41,600,000 | ||||
Deferred income tax assets, net of valuation allowances | 43,000,000 | 63,700,000 | ||||
Receivable from R.R. Donnelley |
Component: (Network and Table) | |
---|---|
Network | 101020 - Disclosure - Geographic Area and Products and Services Information - Schedule of Net Sales and Long-lived Assets by Geographic Region (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGeographicAreaAndProductsAndServicesInformationScheduleOfNetSalesAndLongLivedAssetsByGeographicRegionDetails) |
Table | Schedule Of Revenues From External Customers And Long Lived Assets [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Revenues From External Customers And Long Lived Assets [Line Items] | Period [Axis] | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||||||||||||||
Geographical | Geographical | Geographical | ||||||||||||||||
U.S. | Europe | Asia | Canada | Other | Geographical | U.S. | Europe | Asia | Canada | Other | Geographical | U.S. | Europe | Asia | Canada | Other | Geographical | |
Net sales | ||||||||||||||||||
Long-lived assets |
Component: (Network and Table) | |
---|---|
Network | 101030 - Disclosure - Geographic Area and Products and Services Information - Summary of Net Sales for Services and Products (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGeographicAreaAndProductsAndServicesInformationSummaryOfNetSalesForServicesAndProductsDetails) |
Table | Schedule Of Entity Wide Information Revenue From External Customers By Products And Services [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Entity Wide Information Revenue From External Customer [Line Items] | Period [Axis] | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||||||||
Products and Services | Products and Services | Products and Services | ||||||||||
Capital Markets | Investment Markets | Language Solutions and other | Products and Services | Capital Markets | Investment Markets | Language Solutions and other | Products and Services | Capital Markets | Investment Markets | Language Solutions and other | Products and Services | |
Total services | 632,100,000 | 598,600,000 | 628,600,000 | |||||||||
Total products | 372,800,000 | 384,900,000 | 420,900,000 | |||||||||
Total net sales | 1,004,900,000 | 983,500,000 | 1,049,500,000 |
Component: (Network and Table) | |
---|---|
Network | 101040 - Disclosure - Related Parties - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRelatedPartiesAdditionalInformationDetails) |
Table | Schedule Of Related Party Transactions By Related Party [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Related Party Transaction [Line Items] | Period [Axis] | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
2017-08-03 - 2017-08-04 | 2017-06-20 - 2017-06-21 | 2017-04-03 - 2017-04-03 | 2017-03-28 - 2017-03-28 | 2017-01-01 - 2017-12-31 | 2017-01-01 - 2017-06-30 | 2016-01-01 - 2016-12-31 | 2016-01-01 - 2016-09-30 | 2015-01-01 - 2015-12-31 | 2016-10-01 | |
Related Party | ||||||||||
Related Party | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Related Party Transaction | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Net Sales | 1,004,900,000 | 983,500,000 | 1,049,500,000 | |||||||
Products cost of sales (exclusive of depreciation and amortization) | 240,900,000 | 226,200,000 | 230,900,000 | |||||||
Services cost of sales (exclusive of depreciation and amortization) | 328,700,000 | 297,100,000 | 291,900,000 | |||||||
Related Party | ||||||||||
Related Party | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Related Party Transaction | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Selling, General and Administrative Expenses | ||||||||||
Share-based compensation costs | ||||||||||
Related Party | ||||||||||
Related Party | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Related Party Transaction | ||||||||||
Products and Services | ||||||||||
Outsourcing Business | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Services cost of sales (exclusive of depreciation and amortization) | ||||||||||
Related Party | ||||||||||
Related Party | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Transition Services Agreements | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Intercompany agreements, description | In connection with the Separation, the Company entered into transition services agreements separately with RRD and LSC, under which, in exchange for the fees specified in the arrangements, RRD and LSC agree to provide certain services to the Company and the Company agrees to provide certain services to RRD, respectively, for up to 24 months following the Separation. These services include, but are not limited to, information technology, accounts receivable, accounts payable, payroll and other financial and administrative services and functions. These agreements facilitate the separation by allowing the Company to operate independently prior to establishing stand-alone back office systems across its organization. | |||||||||
Term of agreement | P24M | |||||||||
Related Party | ||||||||||
Related Party | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Commercial and Other Arrangements | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Intercompany agreements, description | At the time of the Separation, the Company entered into a number of commercial and other arrangements with RRD and its subsidiaries. These include, among other things, arrangements for the provision of services, including global outsourcing and logistics services, printing and binding, digital printing, composition, premedia and access to technology. The terms of the arrangements with RRD do not exceed 36 months. Subsequent to the Separation, RRD and LSC are clients of the Company and expect to utilize financial communication software and services that the Company makes available to all of its clients. | |||||||||
Term of agreement | P36M | |||||||||
Related Party | ||||||||||
R.R. Donnelley & Sons Company | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Related Party Transaction | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Sale of common stock transaction date | ||||||||||
Common stock shares issued retained | ||||||||||
Receivable from related parties | 0 1 | 96,000,000 1 | ||||||||
Payables to related parties | ||||||||||
Net pension plan liabilities | 68,300,000 | |||||||||
Total benefit plan liability | 317,000,000 | |||||||||
Plan assets, fair market value | 248,700,000 | |||||||||
Decrease to the fair value of plan assets | (700,000) | |||||||||
Related Party | ||||||||||
R.R. Donnelley & Sons Company | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Separation and Distribution Agreement | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Cash payment received from RR Donnelley | 68,000,000 | |||||||||
Related Party | ||||||||||
R.R. Donnelley & Sons Company | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Freight and Logistics and Services | ||||||||||
Products and Services | ||||||||||
Printed Products | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Products cost of sales (exclusive of depreciation and amortization) | ||||||||||
Related Party | ||||||||||
R.R. Donnelley & Sons Company | ||||||||||
Sale of Stock | ||||||||||
Underwritten Public Offering | ||||||||||
Related Party Transaction | ||||||||||
Related Party Transaction | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Number of common stock sold | 100,000 | 6,100,000 | 6,200,000 | |||||||
Sale of common stock transaction date | ||||||||||
Related Party | ||||||||||
R.R. Donnelley Affiliates | ||||||||||
Sale of Stock | ||||||||||
Sale of Stock | ||||||||||
Related Party Transaction | ||||||||||
Related Party Transaction | ||||||||||
Products and Services | ||||||||||
Products and Services | ||||||||||
Income Statement Location | ||||||||||
Income Statement Location | ||||||||||
Net Sales | 8,300,000 | 19,400,000 | 7,800,000 | |||||||
Products cost of sales (exclusive of depreciation and amortization) | 32,300,000 2 | 57,900,000 2 | 68,300,000 2 | |||||||
Services cost of sales (exclusive of depreciation and amortization) | 19,500,000 2 | 37,800,000 2 | 40,400,000 2 |
Component: (Network and Table) | |
---|---|
Network | 101050 - Disclosure - Related Parties - Schedule of Allocation of Expenses Reflected in Unaudited Condensed Consolidated and Combined Financial Statements (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureRelatedPartiesScheduleOfAllocationOfExpensesReflectedInUnauditedCondensedConsolidatedAndCombinedFinancialStatementsDetails) |
Table | Schedule Of Related Party Transactions By Related Party [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Related Party Transaction | R.R. Donnelley & Sons Company |
Related Party Transaction [Line Items] | Period [Axis] | |||||||
---|---|---|---|---|---|---|---|---|
2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |||||||
Income Statement Location | Income Statement Location | |||||||
Costs of goods sold | Selling, general and administrative | Depreciation and amortization | Income Statement Location | Costs of goods sold | Selling, general and administrative | Depreciation and amortization | Income Statement Location | |
Total allocations from RRD |
Component: (Network and Table) | |
---|---|
Network | 101060 - Disclosure - Guarantor Financial Information - Additional Information (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformationAdditionalInformationDetails) |
Table | Condensed Income Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Consolidated Entities | Guarantor Subsidiaries |
Condensed Income Statements Captions [Line Items] | Period [Axis] |
---|---|
2017-12-31 | |
Percentage of ownership in directly owned subsidiaries |
Component: (Network and Table) | |
---|---|
Network | 101070 - Disclosure - Guarantor Financial Information - Condensed Consolidating Statements of Operations (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformationCondensedConsolidatingStatementsOfOperationsDetails) |
Table | Condensed Income Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Consolidated Entities | Condensed Income Statements Captions [Line Items] | Period [Axis] | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2017-01-01 - 2017-06-30 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | ||||||||
Related Party | Related Party | Related Party | Related Party | ||||||||
R.R. Donnelley Affiliates | Related Party | R.R. Donnelley Affiliates | R.R. Donnelley Affiliates | Related Party | R.R. Donnelley Affiliates | Related Party | |||||
Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | |||||
Consolidation Items | Eliminations | Consolidation Items | Consolidation Items | Consolidation Items | Eliminations | Consolidation Items | Consolidation Items | Eliminations | Consolidation Items | ||
Parent | Services net sales | ||||||||||
Products net sales | |||||||||||
Total net sales | |||||||||||
Services cost of sales (exclusive of depreciation and amortization) | |||||||||||
Products cost of sales (exclusive of depreciation and amortization) | |||||||||||
Total cost of sales | |||||||||||
Selling, general and administrative expenses (exclusive of depreciation and amortization) | |||||||||||
Restructuring, impairment and other charges-net | |||||||||||
Depreciation and amortization | |||||||||||
Income from operations | |||||||||||
Interest expense (income)-net | |||||||||||
Investment and other income-net | |||||||||||
Earnings (loss) before income taxes and equity in net income of subsidiaries | ( | ( | |||||||||
Income tax expense | ( | ( | |||||||||
Earnings (loss) before equity in net income of subsidiaries | ( | ( | |||||||||
Equity in net income of subsidiaries | |||||||||||
Net earnings | |||||||||||
Comprehensive income | |||||||||||
Guarantor Subsidiaries | Services net sales | ||||||||||
Products net sales | |||||||||||
Total net sales | |||||||||||
Services cost of sales (exclusive of depreciation and amortization) | |||||||||||
Products cost of sales (exclusive of depreciation and amortization) | |||||||||||
Total cost of sales | |||||||||||
Selling, general and administrative expenses (exclusive of depreciation and amortization) | |||||||||||
Restructuring, impairment and other charges-net | |||||||||||
Depreciation and amortization | |||||||||||
Income from operations | |||||||||||
Interest expense (income)-net | ( | ||||||||||
Investment and other income-net | |||||||||||
Earnings (loss) before income taxes and equity in net income of subsidiaries | |||||||||||
Income tax expense | |||||||||||
Earnings (loss) before equity in net income of subsidiaries | |||||||||||
Equity in net income of subsidiaries | |||||||||||
Net earnings | |||||||||||
Comprehensive income | |||||||||||
Non-guarantor Subsidiaries | Services net sales | ||||||||||
Products net sales | |||||||||||
Total net sales | |||||||||||
Services cost of sales (exclusive of depreciation and amortization) | |||||||||||
Products cost of sales (exclusive of depreciation and amortization) | |||||||||||
Total cost of sales | |||||||||||
Selling, general and administrative expenses (exclusive of depreciation and amortization) | |||||||||||
Restructuring, impairment and other charges-net | |||||||||||
Depreciation and amortization | |||||||||||
Income from operations | |||||||||||
Interest expense (income)-net | ( | ||||||||||
Investment and other income-net | ( | ( | |||||||||
Earnings (loss) before income taxes and equity in net income of subsidiaries | |||||||||||
Income tax expense | |||||||||||
Earnings (loss) before equity in net income of subsidiaries | |||||||||||
Equity in net income of subsidiaries | |||||||||||
Net earnings | |||||||||||
Comprehensive income | |||||||||||
Consolidated Entities | Services net sales | ( | 632,100,000 | ( | 598,600,000 | ( | 628,600,000 | ||||
Products net sales | ( | 372,800,000 | ( | 384,900,000 | ( | 420,900,000 | |||||
Total net sales | ( | 1,004,900,000 | 8,300,000 | 19,400,000 | ( | 983,500,000 | 7,800,000 | ( | 1,049,500,000 | ||
Services cost of sales (exclusive of depreciation and amortization) | 19,500,000 1 | ( | 328,700,000 | 37,800,000 1 | ( | 297,100,000 | 40,400,000 1 | ( | 291,900,000 | ||
Products cost of sales (exclusive of depreciation and amortization) | 32,300,000 1 | ( | 240,900,000 | 57,900,000 1 | ( | 226,200,000 | 68,300,000 1 | ( | 230,900,000 | ||
Total cost of sales | ( | 621,400,000 | ( | 619,000,000 | ( | 631,500,000 | |||||
Selling, general and administrative expenses (exclusive of depreciation and amortization) | 232,900,000 | 209,800,000 | 199,200,000 | ||||||||
Restructuring, impairment and other charges-net | 7,100,000 | 5,400,000 | 4,400,000 | ||||||||
Depreciation and amortization | 44,500,000 | 43,300,000 | 41,700,000 | ||||||||
Income from operations | 99,000,000 | 106,000,000 | 172,700,000 | ||||||||
Interest expense (income)-net | 42,900,000 | 11,700,000 | 1,100,000 | ||||||||
Investment and other income-net | (100,000) | 0 | (100,000) | ||||||||
Earnings (loss) before income taxes and equity in net income of subsidiaries | |||||||||||
Income tax expense | 46,500,000 | 35,200,000 | 67,400,000 | ||||||||
Earnings (loss) before equity in net income of subsidiaries | |||||||||||
Equity in net income of subsidiaries | ( | ( | ( | ||||||||
Net earnings | ( | 9,700,000 | ( | 59,100,000 | ( | 104,300,000 | |||||
Comprehensive income | ( | 13,400,000 | ( | 66,100,000 | ( | 124,300,000 |
Component: (Network and Table) | |
---|---|
Network | 101080 - Disclosure - Guarantor Financial Information - Condensed Consolidating Balance Sheet (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformationCondensedConsolidatingBalanceSheetDetails) |
Table | Condensed Balance Sheet Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Condensed Balance Sheet Statements Captions [Line Items] | Period [Axis] | |||
---|---|---|---|---|
2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | |
Consolidated Entities | ||||
Consolidated Entities | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
Related Party | ||||
ASSETS | ||||
Cash and cash equivalents | 52,000,000 | 36,200,000 | 15,100,000 | 28,600,000 |
Receivables, less allowances | 165,200,000 | 156,200,000 | ||
Inventories | 23,300,000 | 24,100,000 | ||
Prepaid expenses and other current assets | 29,600,000 | 17,100,000 | ||
Total current assets | 270,100,000 | 329,600,000 | ||
Property, plant and equipment-net | 34,700,000 | 35,500,000 | ||
Goodwill | 447,400,000 | 446,400,000 | 446,800,000 | |
Other intangible assets-net | 39,900,000 | 54,300,000 | ||
Software-net | 41,100,000 | 41,600,000 | ||
Deferred income taxes | 22,200,000 | 37,000,000 | ||
Other noncurrent assets | 38,100,000 | 34,500,000 | ||
Total assets | 893,500,000 | 978,900,000 | 817,600,000 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Accounts payable | 67,800,000 | 85,300,000 | ||
Accrued liabilities | 119,200,000 | 100,700,000 | ||
Total current liabilities | 187,000,000 | 186,000,000 | ||
Long-term debt | 458,300,000 | 587,000,000 | ||
Deferred compensation liabilities | 22,800,000 | 24,400,000 | ||
Pension and other postretirement benefits plan liabilities | 52,500,000 | 56,400,000 | ||
Other noncurrent liabilities | 23,500,000 | 14,000,000 | ||
Total liabilities | 744,100,000 | 867,800,000 | ||
Total equity | 149,400,000 | 111,100,000 | 623,500,000 | 351,500,000 |
Total liabilities and equity | 893,500,000 | 978,900,000 | ||
Consolidated Entities | ||||
Consolidated Entities | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
R.R. Donnelley & Sons Company | ||||
ASSETS | ||||
Receivable from RR Donnelley | 0 1 | 96,000,000 1 | ||
Consolidated Entities | ||||
Consolidated Entities | ||||
Consolidation Items | ||||
Eliminations | ||||
Related Party | ||||
Related Party | ||||
ASSETS | ||||
Cash and cash equivalents | ( | |||
Intercompany receivables | ( | ( | ||
Intercompany short-term note receivable-net | ( | ( | ||
Prepaid expenses and other current assets | ( | |||
Total current assets | ( | ( | ||
Deferred income taxes | ( | |||
Investments in consolidated subsidiaries | ( | ( | ||
Total assets | ( | ( | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Accounts payable | ( | |||
Intercompany payable | ( | ( | ||
Intercompany short-term note payable-net | ( | ( | ||
Accrued liabilities | ( | ( | ||
Total current liabilities | ( | ( | ||
Other noncurrent liabilities | ( | |||
Total liabilities | ( | ( | ||
Total equity | ( | ( | ||
Total liabilities and equity | ( | ( | ||
Consolidated Entities | ||||
Parent | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
Related Party | ||||
ASSETS | ||||
Cash and cash equivalents | ||||
Prepaid expenses and other current assets | ||||
Total current assets | ||||
Other noncurrent assets | ||||
Investments in consolidated subsidiaries | ||||
Total assets | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Accounts payable | ||||
Intercompany payable | ||||
Intercompany short-term note payable-net | ||||
Accrued liabilities | ||||
Total current liabilities | ||||
Long-term debt | ||||
Total liabilities | ||||
Total equity | ||||
Total liabilities and equity | ||||
Consolidated Entities | ||||
Parent | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
R.R. Donnelley & Sons Company | ||||
ASSETS | ||||
Receivable from RR Donnelley | ||||
Consolidated Entities | ||||
Guarantor Subsidiaries | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
Related Party | ||||
ASSETS | ||||
Cash and cash equivalents | ||||
Receivables, less allowances | ||||
Intercompany receivables | ||||
Inventories | ||||
Prepaid expenses and other current assets | ||||
Total current assets | ||||
Property, plant and equipment-net | ||||
Goodwill | ||||
Other intangible assets-net | ||||
Software-net | ||||
Deferred income taxes | ||||
Other noncurrent assets | ||||
Investments in consolidated subsidiaries | ||||
Total assets | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Accounts payable | ||||
Accrued liabilities | ||||
Total current liabilities | ||||
Deferred compensation liabilities | ||||
Pension and other postretirement benefits plan liabilities | ||||
Other noncurrent liabilities | ||||
Total liabilities | ||||
Total equity | ||||
Total liabilities and equity | ||||
Consolidated Entities | ||||
Guarantor Subsidiaries | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
R.R. Donnelley & Sons Company | ||||
ASSETS | ||||
Receivable from RR Donnelley | ||||
Consolidated Entities | ||||
Non-guarantor Subsidiaries | ||||
Consolidation Items | ||||
Consolidation Items | ||||
Related Party | ||||
Related Party | ||||
ASSETS | ||||
Cash and cash equivalents | ||||
Receivables, less allowances | ||||
Intercompany short-term note receivable-net | ||||
Inventories | ||||
Prepaid expenses and other current assets | ||||
Total current assets | ||||
Property, plant and equipment-net | ||||
Goodwill | ||||
Other intangible assets-net | ||||
Software-net | ||||
Deferred income taxes | ||||
Other noncurrent assets | ||||
Total assets | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Accounts payable | ||||
Intercompany payable | ||||
Accrued liabilities | ||||
Total current liabilities | ||||
Pension and other postretirement benefits plan liabilities | ||||
Other noncurrent liabilities | ||||
Total liabilities | ||||
Total equity | ||||
Total liabilities and equity |
Component: (Network and Table) | |
---|---|
Network | 101090 - Disclosure - Guarantor Financial Information - Condensed Consolidating Statements of Cash Flows (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformationCondensedConsolidatingStatementsOfCashFlowsDetails) |
Table | Condensed Cash Flow Statement [Table] |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Condensed Cash Flow Statements Captions [Line Items] | Period [Axis] | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | 2015-01-01 - 2015-12-31 | |||||||||||
Consolidated Entities | Consolidated Entities | Consolidated Entities | |||||||||||
Parent | Guarantor Subsidiaries | Non-guarantor Subsidiaries | Consolidated Entities | Parent | Guarantor Subsidiaries | Non-guarantor Subsidiaries | Consolidated Entities | Guarantor Subsidiaries | Non-guarantor Subsidiaries | Consolidated Entities | |||
Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | |||
Consolidation Items | Consolidation Items | Consolidation Items | Eliminations | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | Eliminations | Consolidation Items | Consolidation Items | Consolidation Items | Consolidation Items | |
OPERATING ACTIVITIES | |||||||||||||
Net cash provided by operating activities | 91,400,000 | ( | ( | 106,000,000 | 120,900,000 | ||||||||
INVESTING ACTIVITIES | |||||||||||||
Capital expenditures | ( | ( | (27,800,000) | ( | ( | (26,200,000) | ( | ( | (27,100,000) | ||||
Purchases of investments | ( | (3,400,000) | ( | (3,500,000) | ( | (10,000,000) | |||||||
Intercompany note receivable, net | ( | ||||||||||||
Other investing activities | 200,000 | 400,000 | 0 | ||||||||||
Net cash used in investing activities | ( | ( | (31,000,000) | ( | ( | (29,300,000) | ( | ( | (37,100,000) | ||||
FINANCING ACTIVITIES | |||||||||||||
Revolving facility borrowings | 298,500,000 | 0 | 0 | ||||||||||
Payments on revolving facility borrowings | ( | (298,500,000) | 0 | 0 | |||||||||
Payments on long-term debt | ( | (133,000,000) | ( | (50,000,000) | 0 | ||||||||
Net change in short-term debt | 0 | ( | (8,800,000) | ( | (24,000,000) | ||||||||
Payments on note payable with an RRD affiliate | 0 | 0 | ( | ( | (14,800,000) | ||||||||
Debt issuance costs | ( | (2,100,000) | ( | (9,300,000) | 0 | ||||||||
Net transfers to Parent and affiliates | 0 | ( | ( | (340,100,000) | ( | (56,000,000) | |||||||
Separation-related payment from R.R. Donnelley | 68,000,000 | 0 | 0 | ||||||||||
Proceeds from the issuance of common stock | 18,800,000 | 0 | 0 | ||||||||||
Proceeds from issuance of long-term debt | 3,100,000 | 348,200,000 | 0 | ||||||||||
Treasury stock repurchases | ( | (900,000) | 0 | 0 | |||||||||
Intercompany note payable, net | ( | ||||||||||||
Other financing activities | 400,000 | 0 | 0 | ||||||||||
Net cash used in financing activities | ( | ( | (45,700,000) | ( | ( | (60,000,000) | ( | ( | (94,800,000) | ||||
Effect of exchange rate on cash and cash equivalents | 1,100,000 | 4,400,000 | ( | (2,500,000) | |||||||||
Net increase (decrease) in cash and cash equivalents | ( | 15,800,000 | ( | 21,100,000 | ( | (13,500,000) | |||||||
Cash and cash equivalents at beginning of year | 21,800,000 | 16,800,000 | (2,400,000) | 36,200,000 | 100,000 | 15,000,000 | 15,100,000 | 100,000 | 28,500,000 | 28,600,000 | |||
Cash and cash equivalents at end of period | 8,300,000 | 27,900,000 | 15,800,000 | 52,000,000 | 21,800,000 | 16,800,000 | (2,400,000) | 36,200,000 | 100,000 | 15,000,000 | 15,100,000 | ||
Supplemental non-cash disclosure: | |||||||||||||
Debt exchange with R.R. Donnelley, including $5.5 million of debt issuance costs | 0 | 300,000,000 | 0 | ||||||||||
Settlement of intercompany note payable | 0 | 29,600,000 | 0 | ||||||||||
Accrued debt issuance costs | 0 | 1,500,000 | 0 |
Component: (Network and Table) | |
---|---|
Network | 101100 - Disclosure - Guarantor Financial Information - Condensed Consolidating Statements of Cash Flows (Parenthetical) (Details) (http://www.dfsco.com/20171231/taxonomy/role/DisclosureGuarantorFinancialInformationCondensedConsolidatingStatementsOfCashFlowsParentheticalDetails) |
Table | (Implied) |
Reporting Entity [Axis] | 0001669811 (http://www.sec.gov/CIK) |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | Period [Axis] | |
---|---|---|
2017-01-01 - 2017-12-31 | 2016-01-01 - 2016-12-31 | |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ||
Debt issuance costs | 5,500,000 | 5,500,000 |