| Pitney Bowes Inc. | |||||||||||
| Business Segments - Revenue and EBIT | |||||||||||
| (Unaudited; in thousands) | |||||||||||
| Three months ended March 31, | |||||||||||
| 2017 |
2016 (1) |
% Change | |||||||||
|
Revenue |
|||||||||||
| North America Mailing | $ | 355,578 | $ | 371,453 | (4 | %) | |||||
| International Mailing | 93,058 | 104,986 | (11 | %) | |||||||
| Small & Medium Business Solutions | 448,636 | 476,439 | (6 | %) | |||||||
| Production Mail | 88,955 | 87,425 | 2 | % | |||||||
| Presort Services | 132,677 | 127,396 | 4 | % | |||||||
| Enterprise Business Solutions | 221,632 | 214,821 | 3 | % | |||||||
| Software Solutions | 78,220 | 77,922 | 0 | % | |||||||
| Global Ecommerce | 88,152 | 75,407 | 17 | % | |||||||
| Digital Commerce Solutions | 166,372 | 153,329 | 9 | % | |||||||
| Total revenue | $ | 836,640 | $ | 844,589 | (1 | %) | |||||
|
EBIT |
|||||||||||
| North America Mailing | $ | 141,008 | $ | 160,831 | (12 | %) | |||||
| International Mailing | 13,269 | 11,176 | 19 | % | |||||||
| Small & Medium Business Solutions | 154,277 | 172,007 | (10 | %) | |||||||
| Production Mail | 8,964 | 6,824 | 31 | % | |||||||
| Presort Services | 30,717 | 28,910 | 6 | % | |||||||
| Enterprise Business Solutions | 39,681 | 35,734 | 11 | % | |||||||
| Software Solutions | 2,749 | (2,572 | ) | >100% | |||||||
| Global Ecommerce | (4,270 | ) | (3,469 | ) | (23 | %) | |||||
| Digital Commerce Solutions | (1,521 | ) | (6,041 | ) | 75 | % | |||||
| Segment EBIT (2) | $ | 192,437 | $ | 201,700 | (5 | %) | |||||
| Reconciliation of segment EBIT to net income | |||||||||||
| Segment EBIT | $ | 192,437 | $ | 201,700 | |||||||
| Corporate expenses | (55,156 | ) | (57,767 | ) | |||||||
| Adjusted EBIT | 137,281 | 143,933 | |||||||||
| Interest, net (3) | (38,650 | ) | (34,216 | ) | |||||||
| Restructuring charges and asset impairments, net | (2,082 | ) | (6,933 | ) | |||||||
| Acquisition/disposition related expenses | - | (3,120 | ) | ||||||||
| Income before income taxes | 96,549 | 99,664 | |||||||||
| Provision for income taxes | (31,416 | ) | (37,024 | ) | |||||||
| Net income | $ | 65,133 | $ | 62,640 | |||||||
| (1) | Prior period amounts have been recast to conform to the way we now manage and report our segments. | |
| (2) | Segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, and other items that are not allocated to a particular business segment. | |
| (3) | Includes financing interest expense and interest expense, net. | |
