| Pitney Bowes Inc. | ||||||||
| Consolidated Balance Sheets | ||||||||
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(Unaudited in thousands, except per share data) |
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March 31, |
December 31, |
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Assets |
2015 |
2014 |
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| Current assets: | ||||||||
| Cash and cash equivalents | $ | 871,687 | $ | 1,079,145 | ||||
| Short-term investments | 41,741 | 32,121 | ||||||
| Accounts receivable, gross | 389,744 | 424,479 | ||||||
| Allowance for doubtful accounts receivable | (10,166 | ) | (10,742 | ) | ||||
| Accounts receivable, net | 379,578 | 413,737 | ||||||
| Short-term finance receivables | 979,495 | 1,019,412 | ||||||
| Allowance for credit losses | (17,422 | ) | (19,108 | ) | ||||
| Short-term finance receivables, net | 962,073 | 1,000,304 | ||||||
| Inventories | 95,029 | 84,827 | ||||||
| Current income taxes | 36,743 | 40,542 | ||||||
| Other current assets and prepayments | 67,881 | 57,173 | ||||||
| Assets held for sale | 43,750 | 52,271 | ||||||
| Total current assets | 2,498,482 | 2,760,120 | ||||||
| Property, plant and equipment, net | 288,680 | 285,091 | ||||||
| Rental property and equipment, net | 193,369 | 200,380 | ||||||
| Long-term finance receivables | 782,702 | 828,723 | ||||||
| Allowance for credit losses | (7,479 | ) | (9,002 | ) | ||||
| Long-term finance receivables, net | 775,223 | 819,721 | ||||||
| Goodwill | 1,635,171 | 1,672,721 | ||||||
| Intangible assets, net | 72,172 | 82,173 | ||||||
| Non-current income taxes | 85,259 | 96,377 | ||||||
| Other assets | 561,087 | 569,110 | ||||||
| Total assets | $ | 6,109,443 | $ | 6,485,693 | ||||
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Liabilities, noncontrolling interests and stockholders' equity |
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| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | $ | 1,354,876 | $ | 1,558,731 | ||||
| Current income taxes | 102,347 | 90,167 | ||||||
| Current portion of long-term obligations | 520,914 | 324,879 | ||||||
| Advance billings | 409,381 | 386,846 | ||||||
| Total current liabilities | 2,387,518 | 2,360,623 | ||||||
| Deferred taxes on income | 66,775 | 64,839 | ||||||
| Tax uncertainties and other income tax liabilities | 88,381 | 86,127 | ||||||
| Long-term debt | 2,554,317 | 2,927,127 | ||||||
| Other non-current liabilities | 661,147 | 673,348 | ||||||
| Total liabilities | 5,758,138 | 6,112,064 | ||||||
| Noncontrolling interests (Preferred stockholders' equity in subsidiaries) | 296,370 | 296,370 | ||||||
| Stockholders' equity: | ||||||||
| Cumulative preferred stock, $50 par value, 4% convertible | 1 | 1 | ||||||
| Cumulative preference stock, no par value, $2.12 convertible | 543 | 548 | ||||||
| Common stock, $1 par value | 323,338 | 323,338 | ||||||
| Additional paid-in-capital | 152,869 | 178,852 | ||||||
| Retained earnings | 4,940,505 | 4,897,708 | ||||||
| Accumulated other comprehensive loss | (908,647 | ) | (846,156 | ) | ||||
| Treasury stock, at cost | (4,453,674 | ) | (4,477,032 | ) | ||||
| Total Pitney Bowes Inc. stockholders' equity | 54,935 | 77,259 | ||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 6,109,443 | $ | 6,485,693 | ||||
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Pitney Bowes Announces First Quarter 2015 Financial Results
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