To better understand the overlapping modular organization of large networks with respect to flow, here we introduce the map equation for overlapping modules. In this information-theoretic framework, we use the correspondence between compression and regularity detection. The generalized map equation measures how well we can compress a description of flow in the network when we partition it into modules with possible overlaps. When we minimize the generalized map equation over overlapping network partitions, we detect modules that capture flow and determine which nodes at the boundaries between modules should be classified in multiple modules and to what degree. With a novel greedy search algorithm, we find that some networks, for example, the neural network of C. Elegans, are best described by modules dominated by hard boundaries, but that others, for example, the sparse European road network, have a highly overlapping modular organization.