Pitney Bowes Announces Full Year and Fourth Quarter 2015 Financial Results
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Pitney Bowes Inc.
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Reconciliation of Reported Consolidated Results to Adjusted
Results
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(Unaudited; in thousands, except per share data)
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Three Months Ended December 31,
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Twelve Months Ended December 31,
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2015
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2014
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2015
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2014
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Income from continuing operations
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after income taxes, as reported:
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$
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80,426
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$
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58,952
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$
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402,672
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$
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300,006
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Restructuring charges and asset impairments, net
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9,481
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44,188
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18,089
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59,349
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Loss (gain) on sale/disposition of businesses
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4,149
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-
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(84,250
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-
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Acquisition and disposition transaction costs
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48
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-
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11,475
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-
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Legal settlement
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-
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-
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4,250
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-
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Acquisition related compensation expense
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-
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-
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7,246
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-
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Investment divestiture
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-
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-
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(7,756
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(9,774
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Extinguishment of debt
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-
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-
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-
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37,833
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Income from continuing operations
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after income taxes, as adjusted:
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$
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94,104
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$
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103,140
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$
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351,726
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$
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387,414
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Diluted earnings per share from
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continuing operations, as reported:
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$
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0.41
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$
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0.29
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$
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2.00
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$
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1.47
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Restructuring charges and asset impairments, net
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0.05
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0.22
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0.09
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0.29
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Loss (gain) on sale/disposition of businesses
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0.02
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-
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(0.42
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-
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Acquisition and disposition transaction costs
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-
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-
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0.06
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-
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Legal settlement
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-
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-
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0.02
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-
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Acquisition related compensation expense
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-
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-
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0.04
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-
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Investment divestiture
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-
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-
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(0.04
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(0.05
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Extinguishment of debt
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-
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-
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-
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0.19
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Diluted earnings per share from continuing
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operations, as adjusted:
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$
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0.48
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$
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0.51
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$
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1.75
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$
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1.90
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Net cash provided by operating activities,
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as reported:
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$
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163,924
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$
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258,094
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$
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514,639
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$
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655,526
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Capital expenditures
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(36,686
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(59,286
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(166,329
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(180,556
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Restructuring payments
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16,030
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14,011
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62,086
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56,162
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(Receipts) payments related to investment
divestiture
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-
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(59,475
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20,602
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(5,737
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Reserve account deposits
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1,428
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253
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(24,202
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(15,666
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Acquisition related compensation payment
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-
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-
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10,483
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-
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Tax payment related to sale of Imagitas
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5,306
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-
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21,224
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-
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Cash transaction fees related to acquisitions
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and dispositions
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6,856
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-
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17,971
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-
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Extinguishment of debt
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-
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-
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-
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61,657
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Free cash flow, as adjusted:
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$
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156,858
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$
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153,597
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$
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456,474
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$
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571,386
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Note : The sum of the earnings per share amounts may not equal
the totals due to rounding.
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