| Pitney Bowes Inc. | ||||||||||
| Consolidated Balance Sheets | ||||||||||
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(Unaudited in thousands, except per share data) |
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Assets |
March 31,
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December 31,
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| Current assets: | ||||||||||
| Cash and cash equivalents | $ | 903,342 | $ | 907,806 | ||||||
| Short-term investments | 27,060 | 31,128 | ||||||||
| Accounts receivable, gross | 444,149 | 482,949 | ||||||||
| Allowance for doubtful accounts receivable | (13,900 | ) | (13,149 | ) | ||||||
| Accounts receivable, net | 430,249 | 469,800 | ||||||||
| Finance receivables | 1,095,183 | 1,127,261 | ||||||||
| Allowance for credit losses | (23,607 | ) | (24,340 | ) | ||||||
| Finance receivables, net | 1,071,576 | 1,102,921 | ||||||||
| Inventories | 100,956 | 103,580 | ||||||||
| Current income taxes | 30,006 | 28,934 | ||||||||
| Other current assets and prepayments | 125,065 | 147,067 | ||||||||
| Assets held for sale | 127,038 | 46,976 | ||||||||
| Total current assets | 2,815,292 | 2,838,212 | ||||||||
| Property, plant and equipment, net | 237,901 | 245,171 | ||||||||
| Rental property and equipment, net | 219,512 | 226,146 | ||||||||
| Finance receivables | 886,853 | 974,972 | ||||||||
| Allowance for credit losses | (12,014 | ) | (12,609 | ) | ||||||
| Finance receivables, net | 874,839 | 962,363 | ||||||||
| Investment in leveraged leases | 33,690 | 34,410 | ||||||||
| Goodwill | 1,726,596 | 1,734,871 | ||||||||
| Intangible assets, net | 110,878 | 120,387 | ||||||||
| Non-current income taxes | 69,008 | 73,751 | ||||||||
| Other assets | 543,620 | 537,397 | ||||||||
| Total assets | $ | 6,631,336 | $ | 6,772,708 | ||||||
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Liabilities, noncontrolling interests and stockholders' equity |
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| Current liabilities: | ||||||||||
| Accounts payable and accrued liabilities | $ | 1,484,250 | $ | 1,644,582 | ||||||
| Current income taxes | 163,080 | 157,340 | ||||||||
| Notes payable and current portion of long-term obligations | 274,879 | - | ||||||||
| Advance billings | 466,410 | 425,833 | ||||||||
| Liabilities related to assets held for sale | 1,116 | - | ||||||||
| Total current liabilities | 2,389,735 | 2,227,755 | ||||||||
| Deferred taxes on income | 58,975 | 60,667 | ||||||||
| Tax uncertainties and other income tax liabilities | 187,423 | 186,452 | ||||||||
| Long-term debt | 3,066,690 | 3,346,295 | ||||||||
| Other non-current liabilities | 442,365 | 466,766 | ||||||||
| Total liabilities | 6,145,188 | 6,287,935 | ||||||||
| Noncontrolling interests (Preferred stockholders' equity in subsidiaries) | 296,370 | 296,370 | ||||||||
| Stockholders' equity: | ||||||||||
| Cumulative preferred stock, $50 par value, 4% convertible | 1 | 4 | ||||||||
| Cumulative preference stock, no par value, $2.12 convertible | 563 | 591 | ||||||||
| Common stock, $1 par value | 323,338 | 323,338 | ||||||||
| Additional paid-in-capital | 170,038 | 196,977 | ||||||||
| Retained Earnings | 4,705,475 | 4,698,791 | ||||||||
| Accumulated other comprehensive loss | (573,333 | ) | (574,556 | ) | ||||||
| Treasury Stock, at cost | (4,436,304 | ) | (4,456,742 | ) | ||||||
| Total Pitney Bowes Inc. stockholders' equity | 189,778 | 188,403 | ||||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 6,631,336 | $ | 6,772,708 | ||||||
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Pitney Bowes Announces First Quarter 2014 Results
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