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DFIN Donnelley Financial Solutions

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2021Apr. 30, 2021
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateMar. 31,
2021
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Trading SymbolDFIN
Entity Registrant NameDonnelley Financial Solutions, Inc.
Entity Central Index Key0001669811
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Current Fiscal Year End Date--12-31
Entity Filer CategoryAccelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding33,465,192
Title of 12(b) SecurityCommon Stock (Par Value $0.01)
Security Exchange NameNYSE
Entity File Number1-37728
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number36-4829638
Entity Address, Address Line One35 West Wacker Drive
Entity Address, City or TownChicago
Entity Address, State or ProvinceIL
Entity Address, Postal Zip Code60601
City Area Code800
Local Phone Number823-5304
Document Quarterly Reporttrue
Document Transition Reportfalse

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (UNAUDITED) - USD ($) shares in Millions, $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Total net sales $ 245.3 $ 220.7
Total cost of sales[1]110.3 136.3
Selling, general and administrative expenses[1]73.5 57
Depreciation and amortization9.8 12.4
Restructuring, impairment and other charges, net0.8 3.1
Income from operations50.9 11.9
Interest expense, net5.3 4.6
Investment and other income, net(0.8)(0.4)
Earnings before income taxes46.4 7.7
Income tax expense11.2 3.6
Net earnings $ 35.2 $ 4.1
Net earnings per share:
Basic $ 1.05 $ 0.12
Diluted $ 1.02 $ 0.12
Weighted average number of common shares outstanding:
Basic33.6 34.2
Diluted34.5 34.3
Tech-enabled Services
Total net sales $ 118.5 $ 81.9
Total cost of sales41 42.8
Software Solutions
Total net sales60.3 47.3
Total cost of sales24.5 24.8
Print and Distribution
Total net sales66.5 91.5
Total cost of sales $ 44.8 $ 68.7
[1]Exclusive of depreciation and amortization

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (UNAUDITED) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net earnings $ 35.2 $ 4.1
Other comprehensive income (loss), net of tax:
Translation adjustments0.9 (2.8)
Adjustment for net periodic pension and other postretirement benefits plan0.6 0.6
Other comprehensive income (loss), net of tax1.5 (2.2)
Comprehensive income $ 36.7 $ 1.9

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (UNAUDITED) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
ASSETS
Cash and cash equivalents $ 38.5 $ 73.6
Receivables, less allowances for expected losses of $12.6 in 2021 (2020 - $10.5)235.3 173.5
Inventories6.5 4.9
Prepaid expenses and other current assets22.8 9.7
Assets held for sale5.5 5.5
Total current assets308.6 267.2
Property, plant and equipment, net12.3 12
Right-of-use assets48.6 52.5
Software, net50.9 51.2
Goodwill410 409.9
Other intangible assets, net9.6 9.8
Deferred income taxes, net30.5 34
Other noncurrent assets29.6 29
Total assets900.1 [1]865.6
LIABILITIES
Accounts payable59.8 54.2
Accrued liabilities181 184.3
Total current liabilities240.8 238.5
Long-term debt252.7 230.5
Deferred compensation liabilities20 20.8
Pension and other postretirement benefits plan liabilities48.7 51
Noncurrent lease liabilities46.6 51
Other noncurrent liabilities15.3 26
Total liabilities624.1 617.8
Commitments and Contingencies (Note 7)
EQUITY
Preferred stock, $0.01 par value Authorized: 1.0 shares; Issued: None0 0
Common stock, $0.01 par value Authorized: 65.0 shares; Issued and outstanding: 35.6 shares and 33.6 shares in 2021 (2020 - 34.9 shares and 33.3 shares)0.4 0.3
Treasury stock, at cost: 2.0 shares in 2021 (2020 - 1.6 shares)(27.7)(16)
Additional paid-in capital241.9 238.8
Retained earnings140.7 105.5
Accumulated other comprehensive loss(79.3)(80.8)
Total equity276 247.8
Total liabilities and equity $ 900.1 $ 865.6
[1]Certain assets are recorded within a segment based on predominant usage, however, as they benefit more than one segment, the related operating expenses are allocated between segments.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (UNAUDITED) (Parenthetical) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Statement Of Financial Position [Abstract]
Receivables, allowance for expected losses $ 12.6 $ 10.5
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, authorized1,000,000 1,000,000
Preferred stock, Issued0 0
Common stock, par value $ 0.01 $ 0.01
Common stock, Authorized65,000,000 65,000,000
Common stock, Issued35,600,000 34,900,000
Common stock, Outstanding33,600,000 33,300,000
Treasury stock, Shares2,000,000 1,600,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (UNAUDITED) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
OPERATING ACTIVITIES
Net earnings $ 35.2 $ 4.1
Adjustments to reconcile net earnings to net cash used in operating activities:
Depreciation and amortization9.8 12.4
Provision for expected losses on accounts receivable1.1 1.6
Share-based compensation3.1 2.3
Gain on debt extinguishment0 (2.3)
Deferred income taxes3.2 (0.5)
Net pension plan income(1)(0.5)
Amortization of right-of-use assets4.4 5.8
Other0.9 0.1
Changes in operating assets and liabilities:
Accounts receivable, net(63.1)(55.7)
Inventories(1.6)(4.2)
Prepaid expenses and other current assets(12.7)(4.7)
Accounts payable4 12.5
Income taxes payable and receivable5 2.1
Accrued liabilities and other(20.5)(4)
Lease liabilities(5.8)(5.9)
Pension and other postretirement benefits plan contributions(0.3)(0.2)
Net cash used in operating activities(38.3)(37.1)
INVESTING ACTIVITIES
Capital expenditures(8)(6.9)
Purchase of investment0 (1.3)
Net cash used in investing activities(8)(8.2)
FINANCING ACTIVITIES
Revolving facility borrowings105 146.5
Payments on revolving facility borrowings(83)(40.5)
Payments on long-term debt0 (63.3)
Treasury share repurchases(11.2)(5.2)
Net cash provided by financing activities10.8 37.5
Effect of exchange rate on cash and cash equivalents0.4 (1.7)
Net decrease in cash and cash equivalents(35.1)(9.5)
Cash and cash equivalents at beginning of year73.6 17.2
Cash and cash equivalents at end of period38.5 7.7
Supplemental cash flow information
Income taxes paid (net of refunds)2.5 2
Interest paid $ 0.3 $ 2.6

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (UNAUDITED) - USD ($) shares in Millions, $ in MillionsTotalCommon StockTreasury StockAdditional Paid-in CapitalRetained EarningsAccumulated Other Comprehensive Loss
Balance at Dec. 31, 2019 $ 268.6 $ 0.3 $ (4.2) $ 225.2 $ 131.9 $ (84.6)
Balance (in shares) at Dec. 31, 201934.5 0.3
Net earnings4.1 $ 0 $ 0 0 4.1 0
Other comprehensive (loss) income(2.2)0 0 0 0 (2.2)
Adoption of ASU 2016-13 | Accounting Standards Update 2016-13(0.5)0 0 0 (0.5)0
Share-based compensation2.3 0 0 2.3 0 0
Common stock repurchases(3.8)0 $ (3.8)0 0 0
Common stock repurchases, shares(0.6)
Issuance of share-based awards, net of withholdings and other(1.4) $ 0 $ (1.4)0 0 0
Issuance of share-based awards, net of withholdings and other (in shares)0.3 0.1
Balance at Mar. 31, 2020267.1 $ 0.3 $ (9.4)227.5 135.5 (86.8)
Balance (in shares) at Mar. 31, 202034.8 1
Balance at Dec. 31, 2020 $ 247.8 $ 0.3 $ (16)238.8 105.5 (80.8)
Balance (in shares) at Dec. 31, 202034.9 34.9 1.6
Net earnings $ 35.2 $ 0 $ 0 0 35.2 0
Other comprehensive (loss) income1.5 0 0 0 0 1.5
Adoption of ASU 2016-13 | Accounting Standards Update 2016-130
Share-based compensation3.1 0 0 3.1 0 0
Common stock repurchases(3.4)0 $ (3.4)0 0 0
Common stock repurchases, shares(0.1)
Issuance of share-based awards, net of withholdings and other(8.2) $ 0.1 $ (8.3)0 0 0
Issuance of share-based awards, net of withholdings and other (in shares)0.7 0.3
Balance at Mar. 31, 2021 $ 276 $ 0.4 $ (27.7) $ 241.9 $ 140.7 $ (79.3)
Balance (in shares) at Mar. 31, 202135.6 35.6 2

Overview, Basis of Presentation

Overview, Basis of Presentation and Significant Accounting Policies3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Overview, Basis of Presentation and Significant Accounting PoliciesNote 1. Overview, Basis of Presentation and Significant Accounting Policies Description of Business DFIN is a leading global risk and compliance solutions company. The Company provides regulatory filing and deal solutions via its software, technology-enabled services and print and distribution solutions to public and private companies, mutual funds and other regulated investment firms, to serve its clients’ regulatory and compliance needs. DFIN helps its clients comply with applicable regulations where and how they want to work in a digital world, providing numerous solutions tailored to each client’s precise needs. The prevailing trend is toward clients choosing to utilize the Company’s software solutions, in conjunction with its tech-enabled services, to meet their document and filing needs, while at the same time shifting away from physical print and distribution of documents, except for cases where it is still regulatorily required or requested by shareholders. The Company serves its clients’ regulatory and compliance needs throughout their respective life cycles. For its capital markets clients, the Company offers solutions that allow public companies to comply with applicable U.S. Securities and Exchange Commission (“SEC”) regulations including filing agent services, digital document creation and online content management tools that support their corporate financial transactions and regulatory reporting; solutions to facilitate clients’ communications with their shareholders; and virtual data rooms and other deal management solutions. For investment companies, including mutual fund, insurance-investment and alternative investment companies, the Company provides solutions for creating, compiling and filing regulatory communications as well as solutions for investors designed to improve the access to and accuracy of their investment information. Services and Products The Company separately reports its net sales and related cost of sales for its software solutions, tech-enabled services and print and distribution offerings. The Company’s software solutions consist of Venue® Virtual Data Room (“Venue”), ActiveDisclosure®, eBrevia, Arc Suite and others. The Company’s tech-enabled services offerings consist of document composition, compliance-related SEC Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) filing services and transaction solutions. The Company’s print and distribution offerings primarily consist of conventional and digital printed products as well as related shipping. Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements include the accounts of DFIN and all majority-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The financial data presented herein should be read in conjunction with the audited Consolidated Financial Statements and accompanying notes included in the Company’s latest Annual Report. In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. Results of interim periods should not be considered indicative of the results for the full year. Significant Accounting Policies Use of Estimates— The preparation of 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 as well as disclosures 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. The Company’s significant accounting policies and critical accounting estimates are disclosed in the Annual Report. Inventory— The components of the Company’s inventories stated at the lower of cost or market, net of excess and obsolescence reserves for raw materials, at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Raw materials and manufacturing supplies
$
2.2
$
2.5
Work in process
4.3
2.4
Total
$
6.5
$
4.9
Property, Plant and Equipment— The components of the Company’s property, plant and equipment, net at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Land
$
0.3
$
0.3
Buildings
23.4
24.1
Machinery and equipment
92.2
98.4
115.9
122.8
Less: Accumulated depreciation
(103.6
)
(110.8
)
Total
$
12.3
$
12.0
Depreciation expense was $1.4 million and $1.7 million for the three months ended March 31, 2021 and 2020, respectively. Assets Held for Sale —As of March 31, 2021 and December 31, 2020, the Company had one real estate property, primarily consisting of land and an office building, held for sale with a carrying value of $5.5 million. Software —Capitalized software development costs are 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 $8.2 million and $7.3 million for the three months ended March 31, 2021 and 2020, respectively. Investments — The carrying value of the Company’s investments in equity securities was $13.3 million and $13.4 million at March 31, 2021 and December 31, 2020, respectively. The Company measures its equity securities that do not have a readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company performs an assessment on a quarterly basis to determine whether triggering events for impairment exist and to identify any observable price changes. During the three months ended March 31, 2021, the Company recorded an unrealized loss of $0.2 million resulting from an observable price change of an investment due to an orderly transaction for the identical or a similar investment. Current Expected Credit Loss Reserve — Transactions affecting the current expected credit loss (“CECL”) reserve during the three months ended March 31, 2021 and March 31, 2020 were as follows:
March 31, 2021
March 31, 2020
Balance, beginning of year (a)
$
10.5
$
7.7
Adoption of ASU 2016-13 (b)

0.5
Provisions charged to expense and reclassifications
2.3
2.3
Write-offs and other
(0.2
)
(0.8
)
Balance, end of period (a)
$
12.6
$
9.7
(a)
As of March 31, 2021, the CECL reserve balance is comprised of a $11.6 million provision for accounts receivable and a $1.0 million provision for unbilled receivables and contract assets. As of December 31, 2020, the CECL reserve balance was comprised of a $10.1 million provision for accounts receivable and a $0.4 million provision for unbilled receivables and contract assets.
(b)
On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, and recorded a $0.5 million cumulative-effect adjustment to retained earnings, as further disclosed in the Annual Report.
Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which modifies Accounting Standards Codification (“ASC”) Topic 740, Income Taxes, to simplify the accounting for income taxes by removing certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. ASU 2019-12 also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for goodwill and allocating taxes to members of a consolidated group. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted the standard prospectively on January 1, 2021. The adoption of this standard did not have a material impact on the Company’s Unaudited Condensed Consolidated Financial Statements.

Revenue

Revenue3 Months Ended
Mar. 31, 2021
Revenue Recognition [Abstract]
RevenueNote 2. Revenue Revenue Recognition The Company manages highly-customized data and materials to enable filings with the SEC on behalf of its customers as well as manages virtual data rooms and performs eXtensible Business Reporting Language (“XBRL”) and other services. Clients are provided with EDGAR filing services, XBRL compliance services and translation, editing, interpreting, proof-reading and multilingual typesetting services, among other services. The Company’s software solutions include Venue, the Arc Suite software platform, ActiveDisclosure and data and analytics, among others. The Company also provides digital document creation, online content management and print and distribution solutions to public and private companies, mutual funds and other regulated investment firms to serve their regulatory and compliance needs. Revenue is recognized upon transfer of control of promised services or products to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services or products. The Company’s services include software solutions and tech-enabled services whereas the Company’s products are comprised of print and distribution offerings. The Company’s arrangements with customers often include promises to transfer multiple services or products to a customer. Determining whether services and products are considered distinct performance obligations that should be accounted for separately requires significant judgment. Certain customer arrangements have multiple performance obligations as certain promises are both capable of being distinct and are distinct within the context of the contract. Other customer arrangements have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts, and therefore are not distinct. Revenue for the Company’s tech-enabled services, software solutions and print and distribution offerings is recognized either over time or at a point in time, as further disclosed in the Annual Report. Disaggregation of revenue The following table disaggregates revenue between tech-enabled services, software solutions and print and distribution by reportable segment:
Three Months Ended March 31,
2021
2020
Tech-enabled Services
Software Solutions
Print and Distribution
Total
Tech-enabled Services
Software Solutions
Print and Distribution
Total
Capital Markets - Software Solutions
$

$
38.5
$

$
38.5
$

$
31.2
$

$
31.2
Capital Markets - Compliance and Communications Management
96.0

42.5
138.5
57.9

41.2
99.1
Investment Companies - Software Solutions

21.8

21.8

16.1

16.1
Investment Companies - Compliance and Communications Management
22.5

24.0
46.5
24.0

50.3
74.3
Total net sales
$
118.5
$
60.3
$
66.5
$
245.3
$
81.9
$
47.3
$
91.5
$
220.7
Unbilled Receivables and Contract Balances The timing of revenue recognition may differ from the timing of invoicing customers and these timing differences result in unbilled receivables, contract assets or contract liabilities. Contract assets represent revenue recognized for performance obligations completed before an unconditional right to payment exists, and therefore invoicing has not yet occurred. The Company generally estimates contract assets based on historical selling price adjusted for its current experience and expected resolution of the variable consideration of the completed performance obligation. When the Company’s contracts contain variable consideration, the Company only recognizes variable consideration to the extent that it is probable that a significant revenue reversal will not occur in a future period. As a result, estimated revenue and contract assets may be constrained until the uncertainty associated with the variable consideration is resolved, which generally occurs in less than one year. Contract assets were $26.3 million and $18.5 million at March 31, 2021 and December 31, 2020, respectively. Generally, the contract assets balance is impacted by the recognition of additional revenue, amounts invoiced to customers and changes in the level of the constraint applied to variable consideration. Unbilled receivables are recorded when there is an unconditional right to payment and invoicing has not yet occurred. The Company estimates the value of unbilled receivables based on a combination of historical customer selling price and management’s assessment of realizable selling price. Unbilled receivables were $79.8 million and $39.1 million at March 31, 2021 and December 31, 2020, respectively. For the three months ended March 31, 2021, amounts recognized as revenue exceeded the estimates for performance obligations satisfied as of December 31, 2020 by approximately $16.0 The majority of the Company’s contracts with significant remaining performance obligations have an initial expected duration of one year or less. Contract liabilities consist of deferred revenue and progress billings which are included in accrued liabilities on the Unaudited Condensed Consolidated Balance Sheets. Changes in contract liabilities were as follows:
Balance at January 1, 2021
$
21.7
Deferral of revenue
25.7
Revenue recognized
(17.5
)
Balance at March 31, 2021
$
29.9
Balance at January 1, 2020
$
13.1
Deferral of revenue
11.2
Revenue recognized
(9.6
)
Balance at March 31, 2020
$
14.7

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets3 Months Ended
Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible AssetsNote 3. Goodwill and Other Intangible Assets The balances of goodwill by reporting unit are presented below:
Gross book value at December 31, 2020
Accumulated impairment charges at December 31, 2020
Net book value at December 31, 2020
Foreign exchange and other adjustments
Net book value at March 31, 2021
Capital Markets - Software Solutions
$
103.7
$

$
103.7
$

$
103.7
Capital Markets - Compliance and Communications Management
253.0

253.0
0.1
253.1
Investment Companies - Software Solutions
53.2

53.2

53.2
Investment Companies - Compliance and Communications Management
40.6
(40.6
)



Total
$
450.5
$
(40.6
)
$
409.9
$
0.1
$
410.0
The components of other intangible assets at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Gross Carrying Amount
Accumulated Amortization
Net Book Value
Gross Carrying Amount
Accumulated Amortization
Net Book Value
Customer relationships (useful life of 15 years
$
10.4
$
(1.5
)
$
8.9
$
10.4
$
(1.4
)
$
9.0
Trade names (useful life of 5 years
1.0
(0.5
)
0.5
1.0
(0.4
)
0.6
Software license (useful life of 3 years
0.3
(0.1
)
0.2
0.3
(0.1
)
0.2
Total other intangible assets
$
11.7
$
(2.1
)
$
9.6
$
11.7
$
(1.9
)
$
9.8
Amortization expense for other intangible assets was $0.2 million and $3.4 million for the three months ended March 31, 2021 and 2020, respectively. The weighted-average remaining useful life of the unamortized intangible assets as of March 31, 2021 is approximately twelve years. The following table outlines the estimated annual amortization expense related to other intangible assets:
For the year ending December 31,
Amount
2021 (excluding the three months ended March 31, 2021)
$
0.8
2022
1.0
2023
0.9
2024
0.7
2025
0.7
2026 and thereafter
5.5
Total
$
9.6

Leases

Leases3 Months Ended
Mar. 31, 2021
Leases [Abstract]
LeasesNote 4. Leases The Company has operating leases for certain service centers, office space, warehouses and equipment. The Company paid $6.3 million and $6.8 million related to its operating lease liabilities for the three months ended March 31, 2021 and 2020, respectively. The components of lease expense for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Operating lease expense
$
4.9
$
6.7
Sublease income
(1.1
)
(1.3
)
Net lease expense
$
3.8
$
5.4
The Company’s lease liabilities are presented within the Company’s Unaudited Condensed Consolidated Balance Sheets as follows:
March 31, 2021
December 31, 2020
Accrued liabilities
$
18.9
$
19.7
Noncurrent lease liabilities
46.6
51.0
Total
$
65.5
$
70.7

Restructuring, Impairment and O

Restructuring, Impairment and Other Charges3 Months Ended
Mar. 31, 2021
Restructuring And Related Activities [Abstract]
Restructuring, Impairment and Other ChargesNote 5. Restructuring, Impairment and Other Charges Restructuring, Impairment and Other Charges recognized in Results of Operations The Company records restructuring charges associated with management-approved restructuring plans, which could include the elimination of job functions, closure or relocation of facilities, reorganization of operations, changes in management structure, workforce reductions or other actions. Restructuring charges may include ongoing and enhanced termination benefits related to employee separations, contract termination costs, impairment of certain assets and other related costs associated with exit or disposal activities. For the three months ended March 31, 2021 and 2020, the Company recorded the following net restructuring and other charges by segment:
Three Months Ended March 31, 2021
Employee Terminations
Other Restructuring Charges
Total
Investment Companies - Compliance and Communications Management
$
0.1
$
0.6
$
0.7
Corporate
0.1

0.1
Total
$
0.2
$
0.6
$
0.8
Three Months Ended March 31, 2020
Employee Terminations
Other Charges
Total
Capital Markets - Software Solutions
$
0.3
$

$
0.3
Capital Markets - Compliance and Communications Management
0.4
0.1
0.5
Investment Companies - Software Solutions
0.3

0.3
Investment Companies - Compliance and Communications Management
0.4

0.4
Corporate
0.2
1.4
1.6
Total
$
1.6
$
1.5
$
3.1
For the three months ended March 31, 2020, the Company recorded net restructuring charges of $1.6 million for employee termination costs for approximately 50 employees, substantially all of whom were terminated as of March 31, 2020. These charges primarily related to the reorganization of certain operations. For the three months ended March 31, 2020, the Company also incurred $1.5 million of other charges, primarily related to the realignment of the Company’s operating segments. Restructuring Reserve – Employee Terminations The Company’s employee terminations liability is included in accrued liabilities in the Company’s Unaudited Condensed
December 31, 2020
Restructuring Charges
Reversals
Cash Paid
March 31, 2021
Employee terminations
$
8.5
$
0.2
$

$
(3.1
)
$
5.6

Retirement Plans

Retirement Plans3 Months Ended
Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Retirement PlansNote 6. Retirement Plans The components of the estimated net periodic benefit income for the Company’s pension plans for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Interest cost
$
1.6
$
2.2
Expected return on assets
(3.5
)
(3.5
)
Amortization, net
0.9
0.8
Net pension income
$
(1.0
)
$
(0.5
)

Commitments and Contingencies

Commitments and Contingencies3 Months Ended
Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and ContingenciesNote 7. Commitments and Contingencies 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. Multiemployer Pension Plans Obligation On April 13, 2020, LSC Communications, Inc. (“LSC”) announced that it, along with most of its U.S. subsidiaries, voluntarily filed for business reorganization under Chapter 11 of the U.S. Bankruptcy Code (“LSC Chapter 11 Filing”). LSC and the Company separated from R. R. Donnelley & Sons Company (“RRD”) in a tax-free distribution to shareholders effective October 1, 2016 (the “Separation”). In the second quarter of 2020, the Company became aware that, subsequent to the LSC Chapter 11 Filing, LSC failed to make certain required monthly and quarterly withdrawal liability payments to multiemployer pension plans from which RRD had withdrawn prior to the Separation. Responsibility for certain pre-Separation withdrawal liability obligations, resulting in such monthly and quarterly payment obligations (the “LSC MEPP Liabilities”), had been assigned to LSC pursuant to the September 14, 2016 Separation and Distribution Agreement among the Company, RRD and LSC (the “Separation Agreement”), however, the Company and RRD remained jointly and severally liable for the LSC MEPP Liabilities pursuant to laws and regulations governing multiemployer pension plans. The Company believes the total undiscounted LSC MEPP Liabilities for which LSC was responsible at the time of the LSC Chapter 11 Filing were approximately $103 million (or approximately $57 million on a discounted basis, assuming a blended discount rate of approximately 10%) and were payable over approximately a 15-year period (through 2034), with annual payments ranging from $1.6 million to $8.5 million at the time. On July 24, 2020, the Company and RRD signed an agreement agreeing to submit to mediation and, if required, arbitration to determine the final liability allocation between the Company and RRD with respect to the LSC MEPP Liabilities. DFIN and RRD also agreed to share all required monthly and quarterly withdrawal liability payment obligations that become due during the mediation/arbitration period, with an adjustment and repayment to be made for any such payments according to the final allocation. The Company and RRD were unable to agree upon the final liability allocation in mediation and on March 22, 2021 submitted the matter to arbitration pursuant to the terms of the Separation Agreement. The Company is required to record a liability when it is probable that a loss has been incurred and the amount can be reasonably estimated. In 2020, the Company recorded a charge of $19.0 million and had $15.2 million accrued as of December 31, 2020 for its estimated payments related to the LSC MEPP Liabilities, including the Company’s low end of the range of potential outcomes as well as the Company’s estimated shared payments until a final allocation is determined. In March 2021 and April 2021, the Company and RRD reached settlements with two of the LSC multiemployer pension plan funds, which represented approximately $59 million of the estimated $103 million total undiscounted LSC MEPP Liabilities at the time of the LSC Chapter 11 filing. The Company and RRD each made, or are expecting to make, lump sum payments in the second quarter of 2021 to settle all obligations related to these funds. An adjustment and repayment will be made, as needed, based on the final allocation of the LSC MEPP Liabilities between the Company and RRD. As of March 31, 2021, the Company had $21.5 million accrued related to the settlements with the two funds, as described above, the remaining contingent liability and the Company’s estimated share of required payments until a final allocation is determined. The Company is not able to reasonably estimate the maximum potential loss due to the uncertainty related to the outcome of the final allocation of the LSC MEPP Liabilities between the Company and RRD. The expense associated with this liability has been recorded in SG&A expense within the Corporate segment in the Company’s Unaudited Condensed Consolidated Statements of Operations. There can be no assurance that the Company’s actual future liabilities relating to the LSC MEPP Liabilities will not differ materially from the contingency amount recorded in the Company’s Unaudited Condensed Consolidated Financial Statements. The Company’s outstanding LSC MEPP Liabilities could also be affected by the financial stability of other employers participating in such plans and decisions by those employers to withdraw from such plans in the future, including the financial stability of RRD. Non-income Taxes The Company does not collect sales, use or similar taxes on all amounts invoiced in all jurisdictions in which the Company has sales based on its understanding that certain transactions are not subject to tax. Sales, use and similar tax laws vary greatly by jurisdiction and may require judgment to determine the applicability to the Company’s transactions. In 2020, the Company identified certain jurisdictions where the Company has not historically collected or remitted sales tax on certain services and that the Company believes it is probable that the jurisdiction would assess sales tax. As of March 31, 2021 and December 31, 2020, the Company accrued a $5.3 million and $5.2 million contingent liability, respectively, for certain estimated sales tax exposures. The income statement impact associated with this liability is recorded in SG&A expense in the Company’s Unaudited Condensed Consolidated Statements of Operations. Although management believes its estimates are reasonable, the resolution of the Company’s tax matters could result in tax liabilities that are higher or lower than what has been estimated by the Company.

Debt

Debt3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
DebtNote 8. Debt The Company’s debt as of March 31, 2021 and December 31, 2020 consisted of the following:
March 31, 2021
December 31, 2020
8.25% senior notes due October 15, 2024
$
233.0
$
233.0
Borrowings under the Revolving Facility
22.0

Unamortized debt issuance costs
(2.3
)
(2.5
)
Total long-term debt
$
252.7
$
230.5
Maturities —At March 31, 2021, the Company’s long-term debt was comprised of the 8.25% senior unsecured notes due October 15, 2024 (“Notes”) and borrowings under the Revolving Facility, as defined below. Fair Value —The fair value of the Notes, which was determined using the market approach based upon interest rates available to the Company for borrowings with similar terms and maturities, was determined to be Level 2 under the fair value hierarchy. The fair value of the Company’s Notes was $244.4 million and $247.5 million at March 31, 2021 and December 31, 2020, respectively. The fair value of the Company’s borrowings under the Revolving Facility (as defined below) is classified as Level 2 under the fair value hierarchy and approximates its carrying value as of March 31, 2021, as the Revolving Facility carries a variable rate of interest reflecting current market rates. 8.25% Senior Notes Due 2024 —In the first quarter of 2020, the Company purchased and retired $66.5 million (notional amount) of the Notes at an average price of 95.25 and recognized a pre-tax gain on the extinguishment of debt of $2.3 million, which was net of unamortized debt issuance costs, and is recorded within interest expense, net in the Unaudited Condensed Consolidated Statements of Operations. The Company’s Notes, with interest payable semi-annually on April 15 and October 15, 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 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. The Company may redeem the Notes, in whole or in part, on or after October 15, 2021, but prior to October 14, 2022 at the redemption price of 102.063%, and at the redemption price of 100.000% beginning on October 15, 2022 and thereafter, in each case, plus accrued and unpaid interest, if any. Credit Agreement — On September 30, 2016, the Company entered into a Credit Agreement, as amended (“the Credit Agreement”) by and among the Company, the lenders party thereto from time to time and JP Morgan Chase Bank, N.A., as administrative agent. The Credit Agreement provides for a $ 350.0 million senior secured term loan B facility (the “Term Loan Credit Facility”) and a $ 300.0 million senior secured revolving credit facility (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 the Consolidated Net 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 $ 20.0 million in the aggregate. Revolving Credit Facility —On December 18, 2018, the Company entered into a second amendment to the Credit Agreement which extended the maturity date of the Revolving Facility to December 18, 2023. As of March 31, 2021, there was $22.0 million of borrowings outstanding under the Revolving Facility. The weighted average interest rate on borrowings under the Revolving Facility was 3.3% and 3.8% for the three months ended March 31, 2021 and 2020, respectively. The following table summarizes interest expense, net included in the Unaudited Condensed Consolidated Statements of Operations
Three Months Ended March 31,
2021
2020
Interest incurred
$
5.4
$
6.9
Less: Gain on debt extinguishment and other interest income
(0.1
)
(2.3
)
Interest expense, net
$
5.3
$
4.6

Earnings per Share

Earnings per Share3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings per ShareNote 9. 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 stock options, restricted stock units, performance share units and restricted stock. 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 three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Net earnings per share:
Basic
$
1.05
$
0.12
Diluted
$
1.02
$
0.12
Numerator:
Net earnings
$
35.2
$
4.1
Denominator:
Weighted average number of common shares outstanding
33.6
34.2
Dilutive awards
0.9
0.1
Diluted weighted average number of common shares outstanding
34.5
34.3
Weighted average number of anti-dilutive share-based awards:
Restricted stock units
0.2
0.9
Stock options

0.8
Total
0.2
1.7

Share-Based Compensation

Share-Based Compensation3 Months Ended
Mar. 31, 2021
Share Based Compensation [Abstract]
Share-Based CompensationNote 10. Share-Based Compensation The Company’s share-based compensation plan under which it may grant future awards, the Donnelley Financial Solutions, Inc. Amended and Restated 2016 Performance Incentive Plan (as amended, the “2016 PIP”), was approved by the Board of Directors (the “Board”) and the Company’s shareholders on May 18, 2017 and provides 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, performance share units (“PSUs”), performance cash awards or restricted stock units (“RSUs”). In addition, non-employee members of the Board may receive awards under the 2016 PIP. On May 30, 2019, the Company’s shareholders voted to approve 3.4 million additional shares of common stock for issuance under the 2016 PIP. At March 31, 2021, there were 0.9 million remaining shares of common stock authorized and available for grant under the 2016 PIP. The Company recognizes compensation expense for the share-based awards based on estimated grant date fair values as well as certain assumptions, as further disclosed in Note 12, Share-Based Compensation , of the Annual Report. Total compensation expense related to all share-based compensation plans was $3.1 million and $2.3 million for the three months ended March 31, 2021 and 2020, respectively. The income tax benefit related to share-based compensation expense was $3.8 million and $0.1 million for the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, $32.6 million of total unrecognized expense related to share-based compensation awards is expected to be recognized over a weighted-average period of 2.5 years. Stock Options There were no stock options granted during the three months ended March 31, 2021.
Shares Under Option (thousands)
Weighted Average Exercise Price
Outstanding at December 31, 2020
715
$
18.91
Exercised
(5
)
22.33
Cancelled/forfeited/expired
(25
)
31.35
Outstanding at March 31, 2021
685
$
18.43
Vested and expected to vest at March 31, 2021
677
$
18.46
Vested at March 31, 2021
527
$
19.21
As of March 31, 2021, $0.7 million of unrecognized compensation expense related to stock options is expected to be recognized over a weighted average period of 1.5 years. Restricted Stock Units RSU awards as of March 31, 2021 and December 31, 2020, and changes during the three months ended March 31, 2021, were as follows:
Shares (thousands)
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020
1,376
$
10.53
Granted
446
28.61
Vested
(467
)
11.54
Forfeited
(15
)
15.25
Nonvested at March 31, 2021
1,340
$
16.14
As of March 31, 2021, $18.8 million of unrecognized compensation expense related to RSUs is expected to be recognized over a weighted-average period of 2.5 years. Performance Share Units PSU awards as of March 31, 2021 and December 31, 2020, and changes during the three months ended March 31, 2021, were as follows:
Shares (thousands)
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020
872
$
12.13
Granted
336
27.86
Vested
(244
)
15.61
Forfeited
(11
)
8.98
Nonvested at March 31, 2021
953
$
16.82
During the three months ended March 31, 2021, 335,830 PSUs were granted to certain executive officers and senior management, 315,400 of which related to the 2021 performance grant and 20,430 of which related to additional shares issued during the three months ended March 31, 2021 due to the achievement of certain targets for the year ended December 31, 2020. The total potential payout for awards granted during the three months ended March 31, 2021 is payable upon the achievement of certain established performance targets and ranges from zero to 631,000 shares. The 2020 and 2021 PSU awards consist of four independent performance periods, including three annual performance periods and one three-year cumulative performance period. Compensation expense related to the first annual performance period for the 2021 PSUs is recognized at 153% based on the estimated attainment as of March 31, 2021, or approximately 118,000 shares. Compensation expense for the remaining performance periods for the 2021 PSUs is recognized based on an estimated 100% attainment of the targeted performance metrics, or approximately 238,000 shares. Compensation expense related to the first annual performance period for the 2020 PSUs is recognized at 138% based on the attainment for the year ended December 31, 2020, or approximately 111,000 shares. Compensation expense related to the second annual performance period for the 2020 PSUs is recognized at 147% based on the estimated attainment as of March 31, 2021, or approximately 118,000 shares. Compensation expense for the remaining performance periods for the 2020 PSU awards is recognized based on an estimated 100% attainment of the target performance metrics, or approximately 180,000 shares, for the remaining performance periods. Compensation expense for the 2019 PSUs is recognized over one cumulative three-year performance period at an estimated 115% attainment of the targeted performance metrics, or approximately 341,000 shares. As of March 31, 2021, $13.1 million of unrecognized compensation expense related to PSUs is expected to be recognized over a weighted average period of 2.5 years.

Capital Stock

Capital Stock3 Months Ended
Mar. 31, 2021
Equity [Abstract]
Capital StockNote 11. Capital Stock The Company has 65 million shares of $0.01 par value common stock authorized for issuance. DFIN’s common stock is currently traded under the ticker symbol “DFIN” on the New York Stock Exchange. The Company has one million shares of $0.01 par value preferred stock authorized for issuance. The Board 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. Common Stock Repurchases —On February 4, 2020, the Board authorized a stock repurchase program, under which the Company is authorized to repurchase up to $25.0 million of its outstanding common stock from time to time in one or more transactions on the open market or in privately negotiated purchases in accordance with all applicable securities laws. During 2020, the Company repurchased 1,149,489 shares in open market transactions for $10.3 million at an average price of $8.92 per share. As of December 31, 2020, the remaining authorized amount under the authorization was approximately $14.7 million. On February 18, 2021, the Board authorized an increase to its stock repurchase program to bring the total remaining available repurchase authorization for shares on or after February 18, 2021 to $50.0 million and extended the expiration date of the repurchase program through December 31, 2022. The stock repurchase program may be suspended or discontinued at any time. The timing and amount of any shares repurchased are determined by the Company based on its evaluation of market conditions and other factors and may be completed from time to time in one or more transactions on the open market or in privately negotiated purchases in accordance with all applicable securities laws and regulations and all repurchases in the open market will be made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so. During the first quarter of 2021, the Company repurchased 126,682 shares in open market transactions for $3.4 million at an average price of $26.92 per share. As of March 31, 2021 , the remaining authorized amount under the authorization was approximately $46.7 million .

Comprehensive Income

Comprehensive Income3 Months Ended
Mar. 31, 2021
Equity [Abstract]
Comprehensive IncomeNote 12. Comprehensive Income The components of other comprehensive income (loss) and income tax expense allocated to each component for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31, 2021
Before Tax
Income Tax
Net of Tax
Translation adjustments
$
1.0
$
0.1
$
0.9
Adjustment for net periodic pension plan and other postretirement benefits plan
0.9
0.3
0.6
Other comprehensive income
$
1.9
$
0.4
$
1.5
Three Months Ended March 31, 2020
Before Tax
Income Tax
Net of Tax
Translation adjustments
$
(2.8
)
$

$
(2.8
)
Adjustment for net periodic pension plan and other postretirement benefits plan
0.8
0.2
0.6
Other comprehensive loss
$
(2.0
)
$
0.2
$
(2.2
) The following table summarizes changes in accumulated other comprehensive loss by component for the three months ended March 31, 2021:
Pension and Other Postretirement Benefits Plan Cost
Translation Adjustments
Total
Balance at December 31, 2020
$
(67.6
)
$
(13.2
)
$
(80.8
)
Other comprehensive income before reclassifications

0.9
0.9
Amounts reclassified from accumulated other comprehensive loss
0.6

0.6
Net change in accumulated other comprehensive loss
0.6
0.9
1.5
Balance at March 31, 2021
$
(67.0
)
$
(12.3
)
$
(79.3
) The following table summarizes changes in accumulated other comprehensive loss by component for the three months ended March 31, 2020:
Pension and Other Postretirement Benefits Plan Cost
Translation Adjustments
Total
Balance at December 31, 2019
$
(70.9
)
$
(13.7
)
$
(84.6
)
Other comprehensive loss before reclassifications

(2.8
)
(2.8
)
Amounts reclassified from accumulated other comprehensive loss
0.6

0.6
Net change in accumulated other comprehensive loss
0.6
(2.8
)
(2.2
)
Balance at March 31, 2020
$
(70.3
)
$
(16.5
)
$
(86.8
) Reclassifications from accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Amortization of pension and other postretirement benefits plan cost:
Net actuarial loss (a)
$
0.9
$
0.8
Reclassifications before tax
0.9
0.8
Income tax expense
0.3
0.2
Reclassifications, net of tax
$
0.6
$
0.6
(a)
These accumulated other comprehensive loss components are included in the calculation of net periodic pension and other postretirement benefits plan income recognized in investment and other income, net in the Unaudited Condensed Consolidated Statements of Operations (see Note 6 , Retirement Plans

Segment Information

Segment Information3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]
Segment InformationNote 13. Segment Information The Company operates its business through four operating and reportable segments: Capital Markets – Software Solutions, Capital Markets – Compliance and Communications Management, Investment Companies – Software Solutions, and Investment Companies – Compliance and Communications Management. Corporate is not an operating segment and consists primarily of unallocated SG&A activities and associated expenses including, in part, executive, legal, finance and certain facility costs. In addition, certain costs and earnings of employee benefit plans, such as pension and other postretirement benefit plan expense (income) as well as share-based compensation expense, are included in Corporate and not allocated to the operating segments. Capital Markets The Company provides software solutions, technology-enabled services and print and distribution solutions to public and private companies for deal solutions and compliance to companies that are, or are preparing to become, subject to the filing and reporting requirements of the Securities Act of 1933, as amended (the “Securities Act”) and the Exchange Act. The Company’s operating segments associated with its capital markets services and products offerings are as follows: Capital Markets – Software Solutions— The Company provides software solutions to public and private companies to help manage public and private transaction processes; extract data and analyze contracts; collaborate; and tag, validate and file SEC documents. Capital Markets – Compliance & Communications Management— The Company provides technology-enabled services and print and distribution solutions to public and private companies for deal solutions and SEC compliance requirements. Investment Companies The Company provides software solutions, technology-enabled services and print, distribution and fulfillment solutions to its investment companies clients that are subject to the filing and reporting requirements of the Investment Company Act of 1940, as amended (the “Investment Company Act”), primarily mutual fund companies, alternative investment companies, insurance companies and third-party fund administrators. The Company’s operating segments associated with its investment companies services and products offerings are as follows: Investment Companies – Software Solutions— The Company provides software solutions that enable clients to store and manage compliance and regulatory information in a self-service, central repository for documents to be easily accessed, assembled, edited, translated, rendered and submitted to regulators. Investment Companies – Compliance & Communications Management — The Company provides its investment company clients technology-enabled solutions to prepare and file registration forms, as well as XBRL-formatted filings pursuant to the Investment Company Act, through the SEC’s EDGAR system. In addition, the Company provides print and distribution solutions for its clients to communicate with their investors. 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 Unaudited Condensed Consolidated Financial Statements.
Total Net Sales
Income (Loss) from Operations
Assets (1)
Depreciation and Amortization
Capital Expenditures
Three Months Ended March 31, 2021
Capital Markets - Software Solutions
$
38.5
$
6.5
$
171.6
$
3.7
$
3.7
Capital Markets - Compliance and Communications Management
138.5
59.1
448.7
1.5
0.6
Investment Companies - Software Solutions
21.8
2.0
97.6
3.6
1.8
Investment Companies - Compliance and Communications Management
46.5
6.3
65.2
1.0
0.5
Total operating segments
245.3
73.9
783.1
9.8
6.6
Corporate

(23.0
)
117.0

1.4
Total
$
245.3
$
50.9
$
900.1
$
9.8
$
8.0
Total Net Sales
Income (Loss) from Operations
Assets (1)
Depreciation and Amortization
Capital Expenditures
Three Months Ended March 31, 2020
Capital Markets - Software Solutions
$
31.2
$
1.8
$
163.9
$
3.1
$
3.3
Capital Markets - Compliance and Communications Management
99.1
21.4
447.6
4.0
0.2
Investment Companies - Software Solutions
16.1
0.1
98.3
2.9
2.8
Investment Companies - Compliance and Communications Management
74.3
2.1
141.7
2.4

Total operating segments
220.7
25.4
851.5
12.4
6.3
Corporate

(13.5
)
83.3

0.6
Total
$
220.7
$
11.9
$
934.8
$
12.4
$
6.9
(1)

Overview, Basis of Presentati_2

Overview, Basis of Presentation and Significant Accounting Policies (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Use of EstimatesUse of Estimates— The preparation of 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 as well as disclosures 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. The Company’s significant accounting policies and critical accounting estimates are disclosed in the Annual Report.
InventoriesInventory— The components of the Company’s inventories stated at the lower of cost or market, net of excess and obsolescence reserves for raw materials, at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Raw materials and manufacturing supplies
$
2.2
$
2.5
Work in process
4.3
2.4
Total
$
6.5
$
4.9
Property, Plant and EquipmentProperty, Plant and Equipment— The components of the Company’s property, plant and equipment, net at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Land
$
0.3
$
0.3
Buildings
23.4
24.1
Machinery and equipment
92.2
98.4
115.9
122.8
Less: Accumulated depreciation
(103.6
)
(110.8
)
Total
$
12.3
$
12.0
Depreciation expense was $1.4 million and $1.7 million for the three months ended March 31, 2021 and 2020, respectively.
Assets Held for SaleAssets Held for Sale —As of March 31, 2021 and December 31, 2020, the Company had one real estate property, primarily consisting of land and an office building, held for sale with a carrying value of $5.5 million.
SoftwareSoftware —Capitalized software development costs are 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 $8.2 million and $7.3 million for the three months ended March 31, 2021 and 2020, respectively.
InvestmentsInvestments — The carrying value of the Company’s investments in equity securities was $13.3 million and $13.4 million at March 31, 2021 and December 31, 2020, respectively. The Company measures its equity securities that do not have a readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company performs an assessment on a quarterly basis to determine whether triggering events for impairment exist and to identify any observable price changes. During the three months ended March 31, 2021, the Company recorded an unrealized loss of $0.2 million resulting from an observable price change of an investment due to an orderly transaction for the identical or a similar investment.
Current Expected Credit Loss ReserveCurrent Expected Credit Loss Reserve — Transactions affecting the current expected credit loss (“CECL”) reserve during the three months ended March 31, 2021 and March 31, 2020 were as follows:
March 31, 2021
March 31, 2020
Balance, beginning of year (a)
$
10.5
$
7.7
Adoption of ASU 2016-13 (b)

0.5
Provisions charged to expense and reclassifications
2.3
2.3
Write-offs and other
(0.2
)
(0.8
)
Balance, end of period (a)
$
12.6
$
9.7
(a)
As of March 31, 2021, the CECL reserve balance is comprised of a $11.6 million provision for accounts receivable and a $1.0 million provision for unbilled receivables and contract assets. As of December 31, 2020, the CECL reserve balance was comprised of a $10.1 million provision for accounts receivable and a $0.4 million provision for unbilled receivables and contract assets.
(b)
On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, and recorded a $0.5 million cumulative-effect adjustment to retained earnings, as further disclosed in the Annual Report.
Recently Adopted Accounting PronouncementsRecently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which modifies Accounting Standards Codification (“ASC”) Topic 740, Income Taxes, to simplify the accounting for income taxes by removing certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. ASU 2019-12 also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for goodwill and allocating taxes to members of a consolidated group. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted the standard prospectively on January 1, 2021. The adoption of this standard did not have a material impact on the Company’s Unaudited Condensed Consolidated Financial Statements.
Revenue RecognitionRevenue Recognition The Company manages highly-customized data and materials to enable filings with the SEC on behalf of its customers as well as manages virtual data rooms and performs eXtensible Business Reporting Language (“XBRL”) and other services. Clients are provided with EDGAR filing services, XBRL compliance services and translation, editing, interpreting, proof-reading and multilingual typesetting services, among other services. The Company’s software solutions include Venue, the Arc Suite software platform, ActiveDisclosure and data and analytics, among others. The Company also provides digital document creation, online content management and print and distribution solutions to public and private companies, mutual funds and other regulated investment firms to serve their regulatory and compliance needs. Revenue is recognized upon transfer of control of promised services or products to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services or products. The Company’s services include software solutions and tech-enabled services whereas the Company’s products are comprised of print and distribution offerings. The Company’s arrangements with customers often include promises to transfer multiple services or products to a customer. Determining whether services and products are considered distinct performance obligations that should be accounted for separately requires significant judgment. Certain customer arrangements have multiple performance obligations as certain promises are both capable of being distinct and are distinct within the context of the contract. Other customer arrangements have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts, and therefore are not distinct. Revenue for the Company’s tech-enabled services, software solutions and print and distribution offerings is recognized either over time or at a point in time, as further disclosed in the Annual Report.

Overview, Basis of Presentati_3

Overview, Basis of Presentation and Significant Accounting Policies (Tables)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Components of InventoriesThe components of the Company’s inventories stated at the lower of cost or market, net of excess and obsolescence reserves for raw materials, at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Raw materials and manufacturing supplies
$
2.2
$
2.5
Work in process
4.3
2.4
Total
$
6.5
$
4.9
Components of Company's Property, Plant and EquipmentThe components of the Company’s property, plant and equipment, net at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Land
$
0.3
$
0.3
Buildings
23.4
24.1
Machinery and equipment
92.2
98.4
115.9
122.8
Less: Accumulated depreciation
(103.6
)
(110.8
)
Total
$
12.3
$
12.0
Summary of Current Expected Credit Loss ReserveTransactions affecting the current expected credit loss (“CECL”) reserve during the three months ended March 31, 2021 and March 31, 2020 were as follows:
March 31, 2021
March 31, 2020
Balance, beginning of year (a)
$
10.5
$
7.7
Adoption of ASU 2016-13 (b)

0.5
Provisions charged to expense and reclassifications
2.3
2.3
Write-offs and other
(0.2
)
(0.8
)
Balance, end of period (a)
$
12.6
$
9.7
(a)
As of March 31, 2021, the CECL reserve balance is comprised of a $11.6 million provision for accounts receivable and a $1.0 million provision for unbilled receivables and contract assets. As of December 31, 2020, the CECL reserve balance was comprised of a $10.1 million provision for accounts receivable and a $0.4 million provision for unbilled receivables and contract assets.
(b)
On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, and recorded a $0.5 million cumulative-effect adjustment to retained earnings, as further disclosed in the Annual Report.

Revenue (Tables)

Revenue (Tables)3 Months Ended
Mar. 31, 2021
Revenue Recognition [Abstract]
Schedule of Disaggregation of Revenue between Tech-Enabled Services, Software Solutions and Print and Distribution by Reportable SegmentThe following table disaggregates revenue between tech-enabled services, software solutions and print and distribution by reportable segment:
Three Months Ended March 31,
2021
2020
Tech-enabled Services
Software Solutions
Print and Distribution
Total
Tech-enabled Services
Software Solutions
Print and Distribution
Total
Capital Markets - Software Solutions
$

$
38.5
$

$
38.5
$

$
31.2
$

$
31.2
Capital Markets - Compliance and Communications Management
96.0

42.5
138.5
57.9

41.2
99.1
Investment Companies - Software Solutions

21.8

21.8

16.1

16.1
Investment Companies - Compliance and Communications Management
22.5

24.0
46.5
24.0

50.3
74.3
Total net sales
$
118.5
$
60.3
$
66.5
$
245.3
$
81.9
$
47.3
$
91.5
$
220.7
Changes in Contract LiabilitiesContract liabilities consist of deferred revenue and progress billings which are included in accrued liabilities on the Unaudited Condensed Consolidated Balance Sheets. Changes in contract liabilities were as follows:
Balance at January 1, 2021
$
21.7
Deferral of revenue
25.7
Revenue recognized
(17.5
)
Balance at March 31, 2021
$
29.9
Balance at January 1, 2020
$
13.1
Deferral of revenue
11.2
Revenue recognized
(9.6
)
Balance at March 31, 2020
$
14.7

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)3 Months Ended
Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Balances of Goodwill by Reporting UnitThe balances of goodwill by reporting unit are presented below:
Gross book value at December 31, 2020
Accumulated impairment charges at December 31, 2020
Net book value at December 31, 2020
Foreign exchange and other adjustments
Net book value at March 31, 2021
Capital Markets - Software Solutions
$
103.7
$

$
103.7
$

$
103.7
Capital Markets - Compliance and Communications Management
253.0

253.0
0.1
253.1
Investment Companies - Software Solutions
53.2

53.2

53.2
Investment Companies - Compliance and Communications Management
40.6
(40.6
)



Total
$
450.5
$
(40.6
)
$
409.9
$
0.1
$
410.0
Components of Other Intangible AssetsThe components of other intangible assets at March 31, 2021 and December 31, 2020 were as follows:
March 31, 2021
December 31, 2020
Gross Carrying Amount
Accumulated Amortization
Net Book Value
Gross Carrying Amount
Accumulated Amortization
Net Book Value
Customer relationships (useful life of 15 years
$
10.4
$
(1.5
)
$
8.9
$
10.4
$
(1.4
)
$
9.0
Trade names (useful life of 5 years
1.0
(0.5
)
0.5
1.0
(0.4
)
0.6
Software license (useful life of 3 years
0.3
(0.1
)
0.2
0.3
(0.1
)
0.2
Total other intangible assets
$
11.7
$
(2.1
)
$
9.6
$
11.7
$
(1.9
)
$
9.8
Schedule of Estimated Annual Amortization Expense Related to Other Intangible AssetsThe following table outlines the estimated annual amortization expense related to other intangible assets:
For the year ending December 31,
Amount
2021 (excluding the three months ended March 31, 2021)
$
0.8
2022
1.0
2023
0.9
2024
0.7
2025
0.7
2026 and thereafter
5.5
Total
$
9.6

Leases (Tables)

Leases (Tables)3 Months Ended
Mar. 31, 2021
Leases [Abstract]
Summary of Components of Lease ExpenseThe components of lease expense for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Operating lease expense
$
4.9
$
6.7
Sublease income
(1.1
)
(1.3
)
Net lease expense
$
3.8
$
5.4
Summary of Company's Lease Liabilities in Condensed Consolidated Balance SheetsThe Company’s lease liabilities are presented within the Company’s Unaudited Condensed Consolidated Balance Sheets as follows:
March 31, 2021
December 31, 2020
Accrued liabilities
$
18.9
$
19.7
Noncurrent lease liabilities
46.6
51.0
Total
$
65.5
$
70.7

Restructuring, Impairment and_2

Restructuring, Impairment and Other Charges (Tables)3 Months Ended
Mar. 31, 2021
Schedule of Restructuring and Other Charges by Segment Recognized in Results of OperationsThe Company records restructuring charges associated with management-approved restructuring plans, which could include the elimination of job functions, closure or relocation of facilities, reorganization of operations, changes in management structure, workforce reductions or other actions. Restructuring charges may include ongoing and enhanced termination benefits related to employee separations, contract termination costs, impairment of certain assets and other related costs associated with exit or disposal activities. For the three months ended March 31, 2021 and 2020, the Company recorded the following net restructuring and other charges by segment:
Three Months Ended March 31, 2021
Employee Terminations
Other Restructuring Charges
Total
Investment Companies - Compliance and Communications Management
$
0.1
$
0.6
$
0.7
Corporate
0.1

0.1
Total
$
0.2
$
0.6
$
0.8
Three Months Ended March 31, 2020
Employee Terminations
Other Charges
Total
Capital Markets - Software Solutions
$
0.3
$

$
0.3
Capital Markets - Compliance and Communications Management
0.4
0.1
0.5
Investment Companies - Software Solutions
0.3

0.3
Investment Companies - Compliance and Communications Management
0.4

0.4
Corporate
0.2
1.4
1.6
Total
$
1.6
$
1.5
$
3.1
Employee Severance
Schedule of Changes in the Employee Terminations LiabilityThe Company’s employee terminations liability is included in accrued liabilities in the Company’s Unaudited Condensed
December 31, 2020
Restructuring Charges
Reversals
Cash Paid
March 31, 2021
Employee terminations
$
8.5
$
0.2
$

$
(3.1
)
$
5.6

Retirement Plans (Tables)

Retirement Plans (Tables)3 Months Ended
Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Components of Estimated Net Periodic Benefit IncomeThe components of the estimated net periodic benefit income for the Company’s pension plans for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Interest cost
$
1.6
$
2.2
Expected return on assets
(3.5
)
(3.5
)
Amortization, net
0.9
0.8
Net pension income
$
(1.0
)
$
(0.5
)

Debt (Tables)

Debt (Tables)3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of the Company's DebtThe Company’s debt as of March 31, 2021 and December 31, 2020 consisted of the following:
March 31, 2021
December 31, 2020
8.25% senior notes due October 15, 2024
$
233.0
$
233.0
Borrowings under the Revolving Facility
22.0

Unamortized debt issuance costs
(2.3
)
(2.5
)
Total long-term debt
$
252.7
$
230.5
Summary of Interest Expense, NetThe following table summarizes interest expense, net included in the Unaudited Condensed Consolidated Statements of Operations
Three Months Ended March 31,
2021
2020
Interest incurred
$
5.4
$
6.9
Less: Gain on debt extinguishment and other interest income
(0.1
)
(2.3
)
Interest expense, net
$
5.3
$
4.6

Earnings per Share (Tables)

Earnings per Share (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Reconciliation of Numerator and Denominator of Basic and Diluted Earnings per Share Calculation and Anti-dilutive Share-based AwardsThe reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation and the anti-dilutive share-based awards for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Net earnings per share:
Basic
$
1.05
$
0.12
Diluted
$
1.02
$
0.12
Numerator:
Net earnings
$
35.2
$
4.1
Denominator:
Weighted average number of common shares outstanding
33.6
34.2
Dilutive awards
0.9
0.1
Diluted weighted average number of common shares outstanding
34.5
34.3
Weighted average number of anti-dilutive share-based awards:
Restricted stock units
0.2
0.9
Stock options

0.8
Total
0.2
1.7

Share-Based Compensation (Table

Share-Based Compensation (Tables)3 Months Ended
Mar. 31, 2021
Share Based Compensation [Abstract]
Summary of Activity and Weighted Average Exercise Prices Related to Stock OptionsA summary of activity and weighted average exercise prices related to the stock options were as follows:
Shares Under Option (thousands)
Weighted Average Exercise Price
Outstanding at December 31, 2020
715
$
18.91
Exercised
(5
)
22.33
Cancelled/forfeited/expired
(25
)
31.35
Outstanding at March 31, 2021
685
$
18.43
Vested and expected to vest at March 31, 2021
677
$
18.46
Vested at March 31, 2021
527
$
19.21
Summary of Nonvested Restricted Stock Unit AwardsRSU awards as of March 31, 2021 and December 31, 2020, and changes during the three months ended March 31, 2021, were as follows:
Shares (thousands)
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020
1,376
$
10.53
Granted
446
28.61
Vested
(467
)
11.54
Forfeited
(15
)
15.25
Nonvested at March 31, 2021
1,340
$
16.14
Summary of Nonvested Performance Share UnitsPSU awards as of March 31, 2021 and December 31, 2020, and changes during the three months ended March 31, 2021, were as follows:
Shares (thousands)
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020
872
$
12.13
Granted
336
27.86
Vested
(244
)
15.61
Forfeited
(11
)
8.98
Nonvested at March 31, 2021
953
$
16.82

Comprehensive Income (Tables)

Comprehensive Income (Tables)3 Months Ended
Mar. 31, 2021
Equity [Abstract]
Schedule of Components of Other Comprehensive Income (Loss) and Income Tax Expense Allocated to Each ComponentThe components of other comprehensive income (loss) and income tax expense allocated to each component for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31, 2021
Before Tax
Income Tax
Net of Tax
Translation adjustments
$
1.0
$
0.1
$
0.9
Adjustment for net periodic pension plan and other postretirement benefits plan
0.9
0.3
0.6
Other comprehensive income
$
1.9
$
0.4
$
1.5
Three Months Ended March 31, 2020
Before Tax
Income Tax
Net of Tax
Translation adjustments
$
(2.8
)
$

$
(2.8
)
Adjustment for net periodic pension plan and other postretirement benefits plan
0.8
0.2
0.6
Other comprehensive loss
$
(2.0
)
$
0.2
$
(2.2
)
Schedule of Changes in Accumulated Other Comprehensive LossThe following table summarizes changes in accumulated other comprehensive loss by component for the three months ended March 31, 2021:
Pension and Other Postretirement Benefits Plan Cost
Translation Adjustments
Total
Balance at December 31, 2020
$
(67.6
)
$
(13.2
)
$
(80.8
)
Other comprehensive income before reclassifications

0.9
0.9
Amounts reclassified from accumulated other comprehensive loss
0.6

0.6
Net change in accumulated other comprehensive loss
0.6
0.9
1.5
Balance at March 31, 2021
$
(67.0
)
$
(12.3
)
$
(79.3
) The following table summarizes changes in accumulated other comprehensive loss by component for the three months ended March 31, 2020:
Pension and Other Postretirement Benefits Plan Cost
Translation Adjustments
Total
Balance at December 31, 2019
$
(70.9
)
$
(13.7
)
$
(84.6
)
Other comprehensive loss before reclassifications

(2.8
)
(2.8
)
Amounts reclassified from accumulated other comprehensive loss
0.6

0.6
Net change in accumulated other comprehensive loss
0.6
(2.8
)
(2.2
)
Balance at March 31, 2020
$
(70.3
)
$
(16.5
)
$
(86.8
)
Reclassifications from Accumulated Other Comprehensive Loss, Amortization of Pension Plan CostReclassifications from accumulated other comprehensive loss for the three months ended March 31, 2021 and 2020 were as follows:
Three Months Ended March 31,
2021
2020
Amortization of pension and other postretirement benefits plan cost:
Net actuarial loss (a)
$
0.9
$
0.8
Reclassifications before tax
0.9
0.8
Income tax expense
0.3
0.2
Reclassifications, net of tax
$
0.6
$
0.6
(a)
These accumulated other comprehensive loss components are included in the calculation of net periodic pension and other postretirement benefits plan income recognized in investment and other income, net in the Unaudited Condensed Consolidated Statements of Operations (see Note 6 , Retirement Plans

Segment Information (Tables)

Segment Information (Tables)3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting InformationThe 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 Unaudited Condensed Consolidated Financial Statements.
Total Net Sales
Income (Loss) from Operations
Assets (1)
Depreciation and Amortization
Capital Expenditures
Three Months Ended March 31, 2021
Capital Markets - Software Solutions
$
38.5
$
6.5
$
171.6
$
3.7
$
3.7
Capital Markets - Compliance and Communications Management
138.5
59.1
448.7
1.5
0.6
Investment Companies - Software Solutions
21.8
2.0
97.6
3.6
1.8
Investment Companies - Compliance and Communications Management
46.5
6.3
65.2
1.0
0.5
Total operating segments
245.3
73.9
783.1
9.8
6.6
Corporate

(23.0
)
117.0

1.4
Total
$
245.3
$
50.9
$
900.1
$
9.8
$
8.0
Total Net Sales
Income (Loss) from Operations
Assets (1)
Depreciation and Amortization
Capital Expenditures
Three Months Ended March 31, 2020
Capital Markets - Software Solutions
$
31.2
$
1.8
$
163.9
$
3.1
$
3.3
Capital Markets - Compliance and Communications Management
99.1
21.4
447.6
4.0
0.2
Investment Companies - Software Solutions
16.1
0.1
98.3
2.9
2.8
Investment Companies - Compliance and Communications Management
74.3
2.1
141.7
2.4

Total operating segments
220.7
25.4
851.5
12.4
6.3
Corporate

(13.5
)
83.3

0.6
Total
$
220.7
$
11.9
$
934.8
$
12.4
$
6.9
(1)

Overview, Basis of Presentati_4

Overview, Basis of Presentation and Significant Accounting Policies - Components of Inventories (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Inventory Net [Abstract]
Raw materials and manufacturing supplies $ 2.2 $ 2.5
Work in process4.3 2.4
Total $ 6.5 $ 4.9

Overview, Basis of Presentati_5

Overview, Basis of Presentation and Significant Accounting Policies - Components of Company's Property, Plant and Equipment (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross $ 115.9 $ 122.8
Less: Accumulated depreciation(103.6)(110.8)
Total12.3 12
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross0.3 0.3
Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross23.4 24.1
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross $ 92.2 $ 98.4

Overview, Basis of Presentati_6

Overview, Basis of Presentation and Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Depreciation expense $ 1.4 $ 1.7
Real Estate Held for sale5.5 $ 5.5
Equity investments carrying value13.3 $ 13.4
Unrealized loss on investment0.2
Computer Software, Intangible Asset
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Amortization expense related to internally-developed software $ 8.2 $ 7.3
Maximum | Computer Software, Intangible Asset
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Estimated useful life of computer software3 years

Overview, Basis of Presentati_7

Overview, Basis of Presentation and Significant Accounting Policies - Summary of Current Expected Credit Loss Reserve (Details) - USD ($) $ in MillionsJan. 01, 2020Mar. 31, 2021Mar. 31, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of year $ 7.7 $ 10.5 $ 7.7
Provisions charged to expense and reclassifications2.3 2.3
Write-offs and other(0.2)(0.8)
Balance, end of period12.6 9.7
Adoption of ASU 2016-13
Financing Receivable Allowance For Credit Losses [Line Items]
Prior period reclassification adjustment $ 0.5 $ 0 $ 0.5

Overview, Basis of Presentati_8

Overview, Basis of Presentation and Significant Accounting Policies - Summary of Current Expected Credit Loss Reserve (Parenthetical) (Details) - USD ($) $ in MillionsJan. 01, 2020Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Accounts and Financing Receivable, Allowance for Credit Loss $ 11.6 $ 10.1
Provision of unbilled receivables and contract assets1 $ 0.4
Adoption of ASU 2016-13
Financing Receivable Allowance For Credit Losses [Line Items]
Prior period reclassification adjustment $ 0.5 $ 0 $ 0.5

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Revenue Recognition [Abstract]
Unbilled receivables $ 79.8 $ 39.1
Contract assets26.3 $ 18.5
Invoiced to customers amount that exceeded estimates of standalone selling price $ 16

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue between Tech-Enabled Services, Software Solutions and Print and Distribution by Reportable Segment (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Total net sales $ 245.3 $ 220.7
Tech-enabled Services
Total net sales118.5 81.9
Software Solutions
Total net sales60.3 47.3
Print and Distribution
Total net sales66.5 91.5
Capital Markets - Software Solutions
Total net sales38.5 31.2
Capital Markets - Software Solutions | Tech-enabled Services
Total net sales0 0
Capital Markets - Software Solutions | Software Solutions
Total net sales38.5 31.2
Capital Markets - Software Solutions | Print and Distribution
Total net sales0 0
Capital Markets - Compliance and Communications Management
Total net sales138.5 99.1
Capital Markets - Compliance and Communications Management | Tech-enabled Services
Total net sales96 57.9
Capital Markets - Compliance and Communications Management | Software Solutions
Total net sales0 0
Capital Markets - Compliance and Communications Management | Print and Distribution
Total net sales42.5 41.2
Investment Companies - Software Solutions
Total net sales21.8 16.1
Investment Companies - Software Solutions | Tech-enabled Services
Total net sales0 0
Investment Companies - Software Solutions | Software Solutions
Total net sales21.8 16.1
Investment Companies - Software Solutions | Print and Distribution
Total net sales0 0
Investment Companies - Compliance and Communications Management
Total net sales46.5 74.3
Investment Companies - Compliance and Communications Management | Tech-enabled Services
Total net sales22.5 24
Investment Companies - Compliance and Communications Management | Software Solutions
Total net sales0 0
Investment Companies - Compliance and Communications Management | Print and Distribution
Total net sales $ 24 $ 50.3

Revenue - Changes in Contract L

Revenue - Changes in Contract Liabilities (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement Of Financial Position [Abstract]
Balance beginning $ 21.7 $ 13.1
Deferral of revenue25.7 11.2
Revenue recognized(17.5)(9.6)
Balance ending $ 29.9 $ 14.7

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Balances of Goodwill by Reporting Unit (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Goodwill [Line Items]
Gross book value $ 450.5
Accumulated impairment charges(40.6)
Goodwill, beginning balance $ 409.9
Foreign exchange and other adjustments0.1
Goodwill, ending balance410
Capital Markets - Software Solutions
Goodwill [Line Items]
Gross book value103.7
Accumulated impairment charges0
Goodwill, beginning balance103.7
Foreign exchange and other adjustments0
Goodwill, ending balance103.7
Capital Markets - Compliance and Communications Management
Goodwill [Line Items]
Gross book value253
Accumulated impairment charges0
Goodwill, beginning balance253
Foreign exchange and other adjustments0.1
Goodwill, ending balance253.1
Investment Companies - Software Solutions
Goodwill [Line Items]
Gross book value53.2
Accumulated impairment charges0
Goodwill, beginning balance53.2
Foreign exchange and other adjustments0
Goodwill, ending balance53.2
Investment Companies - Compliance and Communications Management
Goodwill [Line Items]
Gross book value40.6
Accumulated impairment charges $ (40.6)
Goodwill, beginning balance0
Foreign exchange and other adjustments0
Goodwill, ending balance $ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Detail) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 11.7 $ 11.7
Accumulated Amortization(2.1)(1.9)
Net Book Value9.6 9.8
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount10.4 10.4
Accumulated Amortization(1.5)(1.4)
Net Book Value8.9 9
Trade Names
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount1 1
Accumulated Amortization(0.5)(0.4)
Net Book Value0.5 0.6
Software License
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount0.3 0.3
Accumulated Amortization(0.1)(0.1)
Net Book Value $ 0.2 $ 0.2

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Parenthetical) (Detail)3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Estimated useful life of computer software15 years15 years
Trade Names
Finite Lived Intangible Assets [Line Items]
Estimated useful life of computer software5 years5 years
Software License
Finite Lived Intangible Assets [Line Items]
Estimated useful life of computer software3 years3 years

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense for other intangible assets $ 0.2 $ 3.4
Weighted-average remaining useful life for unamortized intangible assets12 years

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Schedule of Estimated Annual Amortization Expense Related to Other Intangible Assets (Detail) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
2021 (excluding the three months ended March 31, 2021) $ 0.8
20221
20230.9
20240.7
20250.7
2026 and thereafter5.5
Net Book Value $ 9.6 $ 9.8

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Leases [Abstract]
Operating lease payments $ 6.3 $ 6.8

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Leases [Abstract]
Operating lease expense $ 4.9 $ 6.7
Sublease income(1.1)(1.3)
Net lease expense $ 3.8 $ 5.4

Leases - Summary of Company's L

Leases - Summary of Company's Lease Liabilities in Condensed Consolidated Balance Sheets (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Leases [Abstract]
Accrued liabilities $ 18.9 $ 19.7
Operating lease liabilities, balance sheet line itemAccrued liabilitiesAccrued liabilities
Noncurrent lease liabilities $ 46.6 $ 51
Total $ 65.5 $ 70.7

Restructuring, Impairment and_3

Restructuring, Impairment and Other Charges - Schedule of Restructuring and Other Charges by Segment Recognized in Results of Operations (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restructuring Cost And Reserve [Line Items]
Employee Terminations $ 0.2 $ 1.6
Other Restructuring Charges0.6 1.5
Total0.8 3.1
Operating Segments | Investment Companies - Compliance and Communications Management
Restructuring Cost And Reserve [Line Items]
Employee Terminations0.1 0.4
Other Restructuring Charges0.6 0
Total0.7 0.4
Operating Segments | Capital Markets - Software Solutions
Restructuring Cost And Reserve [Line Items]
Employee Terminations0.3
Other Restructuring Charges0
Total0.3
Operating Segments | Capital Markets - Compliance and Communications Management
Restructuring Cost And Reserve [Line Items]
Employee Terminations0.4
Other Restructuring Charges0.1
Total0.5
Operating Segments | Investment Companies - Software Solutions
Restructuring Cost And Reserve [Line Items]
Employee Terminations0.3
Other Restructuring Charges0
Total0.3
Corporate
Restructuring Cost And Reserve [Line Items]
Employee Terminations0.1 0.2
Other Restructuring Charges0 1.4
Total $ 0.1 $ 1.6

Restructuring, Impairment and_4

Restructuring, Impairment and Other Charges - Additional Information (Details) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)Employee
Restructuring And Related Activities [Abstract]
Employee Terminations $ 0.2 $ 1.6
Number of employees used to determine employee termination costs | Employee50
Other Charges $ 0.6 $ 1.5

Restructuring, Impairment and_5

Restructuring, Impairment and Other Charges - Schedule of Changes in the Employee Terminations Liability (Details) - Operating Segments $ in Millions3 Months Ended
Mar. 31, 2021USD ($)
Restructuring Cost And Reserve [Line Items]
Balance at the beginning $ 8.5
Restructuring Charges0.2
Reversals0
Cash Paid(3.1)
Balance at the end $ 5.6

Retirement Plans - Components o

Retirement Plans - Components of Estimated Net Periodic Benefit Income (Detail) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Net pension income $ (1) $ (0.5)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost1.6 2.2
Expected return on assets(3.5)(3.5)
Amortization, net0.9 0.8
Net pension income $ (1) $ (0.5)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions1 Months Ended3 Months Ended
Apr. 30, 2021Mar. 31, 2021Dec. 31, 2020
LSC Communications
Loss Contingencies [Line Items]
Estimated share of MEPP obligation $ 19
Loss contingency accrual $ 21.5 15.2
Non Income Tax [Member]
Loss Contingencies [Line Items]
Loss contingency accrual5.3 $ 5.2
LSC Communications
Loss Contingencies [Line Items]
Future cash payment on MEPP liabilities, total103
Present value of MEPP liabilities $ 57
Blended discount rate on MEPP liabilties10.00%
Term of future cash payment on MEPP liabilities15 years
LSC Communications | Subsequent Event
Loss Contingencies [Line Items]
Settlement of MEPP liabilities $ 59
Minimum [Member] | LSC Communications
Loss Contingencies [Line Items]
Future cash payment on MEPP liabilities $ 1.6
Maximum | LSC Communications
Loss Contingencies [Line Items]
Future cash payment on MEPP liabilities $ 8.5

Debt - Schedule of the Company'

Debt - Schedule of the Company's Debt (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Unamortized debt issuance costs $ (2.3) $ (2.5)
Total long-term debt252.7 230.5
8.25% Senior Notes Due October 15, 2024
Debt Instrument [Line Items]
Senior Unsecured notes233 233
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings under the Revolving Facility $ 22 $ 0

Debt - Schedule of the Compan_2

Debt - Schedule of the Company's Debt (Parenthetical) (Details) - 8.25% Senior Notes Due October 15, 20243 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Interest rate, stated percentage8.25%8.25%
Maturity dateOct. 15,
2024
Oct. 15,
2024

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)Dec. 18, 2018Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020Sep. 30, 2016
Debt Instrument [Line Items]
Pre-tax gain on extinguishment of debt $ 0 $ 2,300,000
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Credit facility $ 350,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility300,000,000
Borrowings under the Revolving Facility $ 22,000,000 $ 0
Weighted average interest rate on borrowing3.30%3.80%
Credit Agreement
Debt Instrument [Line Items]
Allowable annual dividend payment under credit agreement $ 20,000,000
8.25% Senior Notes Due October 15, 2024
Debt Instrument [Line Items]
Interest rate, stated percentage8.25%8.25%
Maturity dateOct. 15,
2024
Oct. 15,
2024
Fair value of senior notes $ 244,400,000 $ 247,500,000
Notional amount of notes $ 66,500,000
Average purchase and retired price of notes $ 95.25
Pre-tax gain on extinguishment of debt $ 2,300,000
Frequency of interest payableinterest payable semi-annually on April 15 and October 15
Debt Instrument, Redemption Period, Start DateOct. 15,
2021
8.25% Senior Notes Due October 15, 2024 | Debt Instrument, Redemption, Prior October 14, 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage102.063%
8.25% Senior Notes Due October 15, 2024 | Debt Instrument, Redemption on October 15, 2022 and Thereafter [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage100.00%
Second Amended Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, extended maturity dateDec. 18,
2023

Debt - Summary of Interest Expe

Debt - Summary of Interest Expense, Net (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Debt Instruments [Abstract]
Interest incurred $ 5.4 $ 6.9
Less: Gain on debt extinguishment and other interest income(0.1)(2.3)
Interest expense, net $ 5.3 $ 4.6

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation of Numerator and Denominator of Basic and Diluted Earnings per Share Calculation and Anti-dilutive Share-based Awards (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Earnings Per Share Basic And Diluted [Line Items]
Basic $ 1.05 $ 0.12
Diluted $ 1.02 $ 0.12
Net earnings $ 35.2 $ 4.1
Weighted average number of common shares outstanding33.6 34.2
Dilutive awards0.9 0.1
Diluted weighted average number of common shares outstanding34.5 34.3
Total weighted average number of anti-dilutive share-based awards0.2 1.7
Restricted stock units
Earnings Per Share Basic And Diluted [Line Items]
Total weighted average number of anti-dilutive share-based awards0.2 0.9
Stock Options
Earnings Per Share Basic And Diluted [Line Items]
Total weighted average number of anti-dilutive share-based awards0 0.8

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) $ in MillionsMay 30, 2019sharesMar. 31, 2021USD ($)PeriodsharesMar. 31, 2020USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation | $ $ 3.1 $ 2.3
Share-based compensation expense, income tax benefit | $3.8 $ 0.1
Unrecognized share-based compensation expense | $ $ 32.6
Unrecognized share-based compensation expense, vest over weighted-average period2 years 6 months
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense | $ $ 0.7
Unrecognized share-based compensation expense, vest over weighted-average period1 year 6 months
Share-based compensation award, options granted0
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense | $ $ 18.8
Unrecognized share-based compensation expense, vest over weighted-average period2 years 6 months
Granted446,000
Performance Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense | $ $ 13.1
Unrecognized share-based compensation expense, vest over weighted-average period2 years 6 months
Granted336,000
Performance Share Units | 2021 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of independent performance periods | Period4
Number of annual performance periods | Period3
Number of three-year cumulative performance period | Period1
Performance Share Units | 2020 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of independent performance periods | Period4
Number of annual performance periods | Period3
Number of three-year cumulative performance period | Period1
Performance Share Units | 2019 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of three-year cumulative performance period | Period1
Performance Share Units | Certain Executive Officers and Senior Management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted335,830
Performance Share Units | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout for awards0
Performance Share Units | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Potential payout for awards631,000
2021 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted315,400
Additional Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted20,430
2016 PIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares of common stock authorized3,400,000
Shares authorized and available for grant900,000
First Annual Performance Periods | Performance Share Units | 2021 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, targeted performance percentage153.00%
Number of shares used to determine compensation expense for granted PSUs118,000
First Annual Performance Periods | Performance Share Units | 2020 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, targeted performance percentage138.00%
Number of shares used to determine compensation expense for granted PSUs111,000
Second Annual Performance Periods | Performance Share Units | 2020 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, targeted performance percentage147.00%
Number of shares used to determine compensation expense for granted PSUs118,000
Remaining Annual Performance Periods | Performance Share Units | 2021 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, targeted performance percentage100.00%
Number of shares used to determine compensation expense for granted PSUs238,000
Remaining Annual Performance Periods | Performance Share Units | 2020 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, targeted performance percentage100.00%
Number of shares used to determine compensation expense for granted PSUs180,000
Remaining Annual Performance Periods | Performance Share Units | 2019 Performance Grant
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense, targeted performance percentage115.00%
Number of shares used to determine compensation expense for granted PSUs341,000

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Activity and Weighted Average Exercise Prices Related to Stock Options (Details) shares in Thousands3 Months Ended
Mar. 31, 2021$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Outstanding at beginning of period | shares715
Exercised | shares(5)
Cancelled/forfeited/expired | shares(25)
Outstanding at end of period | shares685
Vested and expected to vest at end of period | shares677
Vested at end of period | shares527
Outstanding at beginning of period | $ / shares $ 18.91
Exercised | $ / shares22.33
Cancelled/forfeited/expired | $ / shares31.35
Outstanding at end of period | $ / shares18.43
Vested and expected to vest at end of period | $ / shares18.46
Vested at end of period | $ / shares $ 19.21

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Nonvested Restricted Stock Unit Awards (Details) - RSUs shares in Thousands3 Months Ended
Mar. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested at December 31, 2020 | shares1,376
Granted | shares446
Vested | shares(467)
Forfeited | shares(15)
Nonvested at end of period, Shares | shares1,340
Nonvested at beginning of period, Weighted Average Grant Date Fair Value | $ / shares $ 10.53
Granted, Weighted Average Grant Date Fair Value | $ / shares28.61
Vested, Weighted Average Grant Date Fair Value | $ / shares11.54
Forfeited, Weighted Average Grant Date Fair Value | $ / shares15.25
Nonvested at end of period, Weighted Average Grant Date Fair Value | $ / shares $ 16.14

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Nonvested Performance Share Units (Details) - Performance Share Units shares in Thousands3 Months Ended
Mar. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested at December 31, 2020 | shares872
Granted | shares336
Vested | shares(244)
Forfeited | shares(11)
Nonvested at end of period, Shares | shares953
Nonvested at beginning of period, Weighted Average Grant Date Fair Value | $ / shares $ 12.13
Granted, Weighted Average Grant Date Fair Value | $ / shares27.86
Vested, Weighted Average Grant Date Fair Value | $ / shares15.61
Forfeited, Weighted Average Grant Date Fair Value | $ / shares8.98
Nonvested at end of period, Weighted Average Grant Date Fair Value | $ / shares $ 16.82

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($)Feb. 18, 2021Mar. 31, 2021Dec. 31, 2020Feb. 04, 2020
Class Of Stock [Line Items]
Common stock, Authorized65,000,000 65,000,000
Common stock, par value $ 0.01 $ 0.01
Preferred stock, authorized1,000,000 1,000,000
Preferred stock, par value $ 0.01 $ 0.01
Repurchases of common stock, shares126,682 1,149,489
Repurchases of common stock, value $ 3,400,000 $ 10,300,000
Shares repurchased average price $ 26.92 $ 8.92
Stock repurchase program, remaining authorized amount $ 46,700,000 $ 14,700,000
Common Stock
Class Of Stock [Line Items]
Outstanding common stock value authorized to repurchase under stock repurchase program $ 50,000,000 $ 25,000,000
Stock Repurchase Program Expiration DateDec. 31,
2022

Comprehensive Income - Schedule

Comprehensive Income - Schedule of Components of Other Comprehensive Income (Loss) and Income Tax Expense Allocated to Each Component (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive (loss) income, Before Tax Amount $ 1.9 $ (2)
Other comprehensive (loss) income, Income Tax Expense0.4 0.2
Other comprehensive income (loss), net of tax1.5 (2.2)
Translation adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive (loss) income, Before Tax Amount1 (2.8)
Other comprehensive (loss) income, Income Tax Expense0.1 0
Other comprehensive income (loss), net of tax0.9 (2.8)
Adjustment for Net Periodic Pension Plan and Other Postretirement Benefits Plan Cost
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive (loss) income, Before Tax Amount0.9 0.8
Other comprehensive (loss) income, Income Tax Expense0.3 0.2
Other comprehensive income (loss), net of tax $ 0.6 $ 0.6

Comprehensive Income - Schedu_2

Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Balance $ 247.8 $ 268.6
Balance276 267.1
Pension and Other Postretirement Benefits Plan Cost
Accumulated Other Comprehensive Income Loss [Line Items]
Balance(67.6)(70.9)
Other comprehensive income before reclassifications0 0
Amounts reclassified from accumulated other comprehensive loss0.6 0.6
Net change in accumulated other comprehensive loss0.6 0.6
Balance(67)(70.3)
Translation adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance(13.2)(13.7)
Other comprehensive income before reclassifications0.9 (2.8)
Amounts reclassified from accumulated other comprehensive loss0 0
Net change in accumulated other comprehensive loss0.9 (2.8)
Balance(12.3)(16.5)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Balance(80.8)(84.6)
Other comprehensive income before reclassifications0.9 (2.8)
Amounts reclassified from accumulated other comprehensive loss0.6 0.6
Net change in accumulated other comprehensive loss1.5 (2.2)
Balance $ (79.3) $ (86.8)

Comprehensive Income - Reclassi

Comprehensive Income - Reclassifications from Accumulated Other Comprehensive Loss Amortization of Pension Plan Cost (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Accumulated Defined Benefit Plans Adjustment, Net Actuarial loss
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization of pension and other postretirement benefits plan cost: Reclassifications before tax[1] $ 0.9 $ 0.8
Pension and Other Postretirement Benefits Plan Cost
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization of pension and other postretirement benefits plan cost: Reclassifications before tax0.9 0.8
Income tax expense (benefit)0.3 0.2
Reclassifications, net of tax $ 0.6 $ 0.6
[1]These accumulated other comprehensive loss components are included in the calculation of net periodic pension and other postretirement benefits plan income recognized in investment and other income, net in the Unaudited Condensed Consolidated Statements of Operations (see Note 6 , Retirement Plans

Segment Information - Additiona

Segment Information - Additional Information (Details)3 Months Ended
Mar. 31, 2021Segment
Segment Reporting [Abstract]
Number Of Operating Segments4
Number of reportable segments4

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Segment Reporting Information [Line Items]
Total net sales $ 245.3 $ 220.7
Income (Loss) from Operations50.9 11.9
Assets900.1 [1]934.8 [1] $ 865.6
Depreciation and amortization9.8 12.4
Capital Expenditures8 6.9
Capital Markets - Software Solutions
Segment Reporting Information [Line Items]
Total net sales38.5 31.2
Capital Markets - Compliance and Communications Management
Segment Reporting Information [Line Items]
Total net sales138.5 99.1
Investment Companies - Software Solutions
Segment Reporting Information [Line Items]
Total net sales21.8 16.1
Investment Companies - Compliance and Communications Management
Segment Reporting Information [Line Items]
Total net sales46.5 74.3
Operating Segments
Segment Reporting Information [Line Items]
Total net sales245.3 220.7
Income (Loss) from Operations73.9 25.4
Assets[1]783.1 851.5
Depreciation and amortization9.8 12.4
Capital Expenditures6.6 6.3
Operating Segments | Capital Markets - Software Solutions
Segment Reporting Information [Line Items]
Total net sales38.5 31.2
Income (Loss) from Operations6.5 1.8
Assets[1]171.6 163.9
Depreciation and amortization3.7 3.1
Capital Expenditures3.7 3.3
Operating Segments | Capital Markets - Compliance and Communications Management
Segment Reporting Information [Line Items]
Total net sales138.5 99.1
Income (Loss) from Operations59.1 21.4
Assets[1]448.7 447.6
Depreciation and amortization1.5 4
Capital Expenditures0.6 0.2
Operating Segments | Investment Companies - Software Solutions
Segment Reporting Information [Line Items]
Total net sales21.8 16.1
Income (Loss) from Operations2 0.1
Assets[1]97.6 98.3
Depreciation and amortization3.6 2.9
Capital Expenditures1.8 2.8
Operating Segments | Investment Companies - Compliance and Communications Management
Segment Reporting Information [Line Items]
Total net sales46.5 74.3
Income (Loss) from Operations6.3 2.1
Assets[1]65.2 141.7
Depreciation and amortization1 2.4
Capital Expenditures0.5 0
Corporate
Segment Reporting Information [Line Items]
Total net sales0 0
Income (Loss) from Operations(23)(13.5)
Assets[1]117 83.3
Depreciation and amortization0 0
Capital Expenditures $ 1.4 $ 0.6
[1]Certain assets are recorded within a segment based on predominant usage, however, as they benefit more than one segment, the related operating expenses are allocated between segments.