| Pitney Bowes Inc. | |||||||||||||
| Consolidated Balance Sheets | |||||||||||||
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(Unaudited; in thousands, except per share data) |
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Assets |
December 31,
2015 |
December 31,
2014 (1) |
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| Current assets: | |||||||||||||
| Cash and cash equivalents | $ | 677,431 | $ | 1,079,145 | |||||||||
| Short-term investments | 102,122 | 32,121 | |||||||||||
| Accounts receivable, gross | 466,589 | 448,017 | |||||||||||
| Allowance for doubtful accounts | (9,262 | ) | (10,742 | ) | |||||||||
| Accounts receivable, net | 457,327 | 437,275 | |||||||||||
| Short-term finance receivables | 950,684 | 1,019,412 | |||||||||||
| Allowance for credit losses | (15,514 | ) | (19,108 | ) | |||||||||
| Short-term finance receivables, net | 935,170 | 1,000,304 | |||||||||||
| Inventories | 88,824 | 84,827 | |||||||||||
| Current income taxes | 6,584 | 28,584 | |||||||||||
| Other current assets and prepayments | 64,325 | 57,173 | |||||||||||
| Assets held for sale | - | 52,271 | |||||||||||
| Total current assets | 2,331,783 | 2,771,700 | |||||||||||
| Property, plant and equipment, net | 330,088 | 285,091 | |||||||||||
| Rental property and equipment, net | 180,662 | 200,380 | |||||||||||
| Long-term finance receivables | 769,303 | 828,723 | |||||||||||
| Allowance for credit losses | (6,249 | ) | (9,002 | ) | |||||||||
| Long-term finance receivables, net | 763,054 | 819,721 | |||||||||||
| Goodwill | 1,745,957 | 1,672,721 | |||||||||||
| Intangible assets, net | 187,378 | 82,173 | |||||||||||
| Non-current income taxes | 70,294 | 98,806 | |||||||||||
| Other assets | 532,245 | 569,110 | |||||||||||
| Total assets | $ | 6,141,461 | $ | 6,499,702 | |||||||||
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Liabilities, noncontrolling interests and stockholders' equity |
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| Current liabilities: | |||||||||||||
| Accounts payable and accrued liabilities | $ | 1,457,614 | $ | 1,572,971 | |||||||||
| Current income taxes | 16,620 | 30,527 | |||||||||||
| Current portion of long-term debt and notes payable | 461,085 | 324,879 | |||||||||||
| Advance billings | 353,025 | 386,846 | |||||||||||
| Total current liabilities | 2,288,344 | 2,315,223 | |||||||||||
| Deferred taxes on income | 205,668 | 114,950 | |||||||||||
| Tax uncertainties and other income tax liabilities | 68,429 | 86,127 | |||||||||||
| Long-term debt | 2,507,912 | 2,927,127 | |||||||||||
| Other non-current liabilities | 596,017 | 682,646 | |||||||||||
| Total liabilities | 5,666,370 | 6,126,073 | |||||||||||
| 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 | 505 | 548 | |||||||||||
| Common stock, $1 par value | 323,338 | 323,338 | |||||||||||
| Additional paid-in-capital | 161,280 | 178,852 | |||||||||||
| Retained earnings | 5,155,537 | 4,897,708 | |||||||||||
| Accumulated other comprehensive loss | (888,635 | ) | (846,156 | ) | |||||||||
| Treasury stock, at cost | (4,573,305 | ) | (4,477,032 | ) | |||||||||
| Total Pitney Bowes Inc. stockholders' equity | 178,721 | 77,259 | |||||||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 6,141,461 | $ | 6,499,702 | |||||||||
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(1) Certain prior year amounts have been revised. |
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Pitney Bowes Announces Full Year and Fourth Quarter 2015 Financial Results
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