Pitney Bowes Announces Fourth Quarter and Annual Results for 2012
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Pitney Bowes Inc.
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Consolidated Balance Sheets
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(Unaudited in thousands, except per share data)
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Assets
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12/31/12
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12/31/11
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Current assets:
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Cash and cash equivalents
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$
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913,276
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$
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856,238
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Short-term investments
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36,611
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12,971
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Accounts receivable, gross
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755,218
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755,485
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Allowance for doubtful accounts receivable
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(26,968
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(31,855
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)
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Accounts receivable, net
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728,250
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723,630
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Finance receivables
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1,213,776
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1,296,673
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Allowance for credit losses
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(25,484
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)
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(45,583
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)
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Finance receivables, net
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1,188,292
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1,251,090
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Inventories
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179,678
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178,599
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Current income taxes
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51,836
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102,556
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Other current assets and prepayments
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114,184
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134,774
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Total current assets
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3,212,127
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3,259,858
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Property, plant and equipment, net
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385,377
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404,146
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Rental property and equipment, net
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241,192
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258,711
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Finance receivables
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1,041,099
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1,123,638
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Allowance for credit losses
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(14,610
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(17,847
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Finance receivables, net
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1,026,489
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1,105,791
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Investment in leveraged leases
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34,546
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138,271
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Goodwill
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2,136,138
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2,147,088
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Intangible assets, net
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166,214
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212,603
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Non-current income taxes
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94,434
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89,992
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Other assets
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563,374
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530,644
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Total assets
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$
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7,859,891
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$
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8,147,104
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Liabilities, noncontrolling interests and stockholders'
equity (deficit)
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Current liabilities:
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Accounts payable and accrued liabilities
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$
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1,809,226
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$
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1,840,465
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Current income taxes
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240,681
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242,972
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Notes payable and current portion of long-term obligations
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375,000
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550,000
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Advance billings
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452,130
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458,425
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Total current liabilities
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2,877,037
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3,091,862
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Deferred taxes on income
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69,222
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175,944
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Tax uncertainties and other income tax liabilities
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145,881
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194,840
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Long-term debt
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3,642,375
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3,683,909
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Other non-current liabilities
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718,375
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743,165
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Total liabilities
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7,452,890
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7,889,720
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Noncontrolling interests (Preferred stockholders' equity in
subsidiaries)
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296,370
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296,370
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Stockholders' equity:
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Cumulative preferred stock, $50 par value, 4% convertible
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4
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4
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Cumulative preference stock, no par value, $2.12 convertible
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648
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659
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Common stock, $1 par value
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323,338
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323,338
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Additional paid-in-capital
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223,847
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240,584
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Retained Earnings
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4,744,802
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4,600,217
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Accumulated other comprehensive loss
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(681,213
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(661,645
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Treasury Stock, at cost
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(4,500,795
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(4,542,143
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Total Pitney Bowes Inc. stockholders' equity (deficit)
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110,631
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(38,986
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Total liabilities, noncontrolling interests and stockholders' equity
(deficit)
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$
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7,859,891
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$
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8,147,104
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