Pitney Bowes Announces First Quarter 2017 Financial Results
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Pitney Bowes Inc.
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Consolidated Balance Sheets
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(Unaudited; in thousands, except share amounts)
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March 31,
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December 31,
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Assets
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2017
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2016
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Current assets:
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Cash and cash equivalents
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$
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739,553
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$
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764,522
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Short-term investments
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43,895
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38,448
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Accounts receivable, net
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389,990
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455,527
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Short-term finance receivables, net
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853,390
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893,950
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Inventories
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115,638
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92,726
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Current income taxes
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11,919
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11,373
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Other current assets and prepayments
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78,749
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68,637
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Total current assets
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2,233,134
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2,325,183
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Property, plant and equipment, net
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319,899
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314,603
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Rental property and equipment, net
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178,281
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188,054
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Long-term finance receivables, net
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664,630
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673,207
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Goodwill
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1,583,302
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1,571,335
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Intangible assets, net
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159,200
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165,172
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Noncurrent income taxes
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78,946
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74,806
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Other assets
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529,779
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524,773
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Total assets
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$
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5,747,171
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$
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5,837,133
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Liabilities and stockholders' deficit
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Current liabilities:
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Accounts payable and accrued liabilities
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$
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1,317,532
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$
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1,378,822
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Current income taxes
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49,933
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34,434
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Current portion of long-term debt
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785,287
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614,485
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Advance billings
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295,688
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299,878
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Total current liabilities
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2,448,440
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2,327,619
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Deferred taxes on income
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210,604
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204,289
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Tax uncertainties and other income tax liabilities
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61,195
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61,276
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Long-term debt
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2,499,025
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2,750,405
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Other noncurrent liabilities
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574,245
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597,204
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Total liabilities
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5,793,509
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5,940,793
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Stockholders' deficit:
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Cumulative preferred stock, $50 par value, 4% convertible
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1
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1
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Cumulative preference stock, no par value, $2.12 convertible
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478
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483
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Common stock, $1 par value
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323,338
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323,338
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Additional paid-in-capital
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126,564
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148,125
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Retained earnings
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5,138,300
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5,107,734
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Accumulated other comprehensive loss
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(913,831
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(940,133
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Treasury stock, at cost
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(4,721,188
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(4,743,208
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Total Pitney Bowes Inc. stockholders' deficit
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(46,338
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(103,660
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Total liabilities and stockholders' deficit
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$
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5,747,171
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$
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5,837,133
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