| Pitney Bowes Inc. | |||||||||||||
| Consolidated Balance Sheets | |||||||||||||
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(Unaudited in thousands, except per share data) |
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Assets |
June 30,
2013 |
December 31,
2012 |
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| Current assets: | |||||||||||||
| Cash and cash equivalents | $ | 608,568 | $ | 913,276 | |||||||||
| Short-term investments | 22,898 | 36,611 | |||||||||||
| Accounts receivable, gross | 604,068 | 748,469 | |||||||||||
| Allowance for doubtful accounts receivable | (15,528 | ) | (20,219 | ) | |||||||||
| Accounts receivable, net | 588,540 | 728,250 | |||||||||||
| Finance receivables | 1,158,795 | 1,213,776 | |||||||||||
| Allowance for credit losses | (26,277 | ) | (25,484 | ) | |||||||||
| Finance receivables, net | 1,132,518 | 1,188,292 | |||||||||||
| Inventories | 141,061 | 179,678 | |||||||||||
| Current income taxes | 30,578 | 51,836 | |||||||||||
| Other current assets and prepayments | 158,812 | 114,184 | |||||||||||
| Assets held for sale | 71,052 | - | |||||||||||
| Total current assets | 2,754,027 | 3,212,127 | |||||||||||
| Property, plant and equipment, net | 351,606 | 385,377 | |||||||||||
| Rental property and equipment, net | 230,759 | 241,192 | |||||||||||
| Finance receivables | 960,480 | 1,041,099 | |||||||||||
| Allowance for credit losses | (9,824 | ) | (14,610 | ) | |||||||||
| Finance receivables, net | 950,656 | 1,026,489 | |||||||||||
| Investment in leveraged leases | 33,606 | 34,546 | |||||||||||
| Goodwill | 2,012,752 | 2,136,138 | |||||||||||
| Intangible assets, net | 143,451 | 166,214 | |||||||||||
| Non-current income taxes | 93,318 | 94,434 | |||||||||||
| Other assets | 563,027 | 563,374 | |||||||||||
| Total assets | $ | 7,133,202 | $ | 7,859,891 | |||||||||
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Liabilities, noncontrolling interests and stockholders' equity |
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| Current liabilities: | |||||||||||||
| Accounts payable and accrued liabilities | $ | 1,563,069 | $ | 1,809,226 | |||||||||
| Current income taxes | 225,208 | 240,681 | |||||||||||
| Notes payable and current portion of long-term obligations | - | 375,000 | |||||||||||
| Advance billings | 448,129 | 452,130 | |||||||||||
| Liabilities held for sale | 50,331 | - | |||||||||||
| Total current liabilities | 2,286,737 | 2,877,037 | |||||||||||
| Deferred taxes on income | 44,460 | 69,222 | |||||||||||
| Tax uncertainties and other income tax liabilities | 144,260 | 145,881 | |||||||||||
| Long-term debt | 3,654,032 | 3,642,375 | |||||||||||
| Other non-current liabilities | 685,002 | 718,375 | |||||||||||
| Total liabilities | 6,814,491 | 7,452,890 | |||||||||||
| Noncontrolling interests (Preferred stockholders' equity in subsidiaries) | 296,370 | 296,370 | |||||||||||
| Stockholders' equity: | |||||||||||||
| Cumulative preferred stock, $50 par value, 4% convertible | 4 | 4 | |||||||||||
| Cumulative preference stock, no par value, $2.12 convertible | 613 | 648 | |||||||||||
| Common stock, $1 par value | 323,338 | 323,338 | |||||||||||
| Additional paid-in-capital | 198,938 | 223,847 | |||||||||||
| Retained Earnings | 4,689,969 | 4,744,802 | |||||||||||
| Accumulated other comprehensive loss | (723,523 | ) | (681,213 | ) | |||||||||
| Treasury Stock, at cost | (4,466,998 | ) | (4,500,795 | ) | |||||||||
| Total Pitney Bowes Inc. stockholders' equity | 22,341 | 110,631 | |||||||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 7,133,202 | $ | 7,859,891 | |||||||||
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Pitney Bowes Announces Second Quarter 2013 Results
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