Pitney Bowes Announces Second Quarter 2017 Financial Results

Pitney Bowes Inc.
Consolidated Balance Sheets
(Unaudited; in thousands, except share amounts)
 
 

June 30,

 

December 31,

Assets

2017

2016

Current assets:
Cash and cash equivalents $ 840,564 $ 764,522
Short-term investments 164,716 38,448
Accounts receivable, net 389,262 455,527
Short-term finance receivables, net 857,764 893,950
Inventories 121,478 92,726
Current income taxes 28,732 11,373
Other current assets and prepayments   89,061     68,637  
 
Total current assets 2,491,577 2,325,183
 
Property, plant and equipment, net 327,140 314,603
Rental property and equipment, net 182,997 188,054
Long-term finance receivables, net 662,384 673,207
Goodwill 1,604,320 1,571,335
Intangible assets, net 152,019 165,172
Noncurrent income taxes 75,105 74,806
Other assets   541,806     524,773  
 
Total assets $ 6,037,348   $ 5,837,133  
 

Liabilities and stockholders' equity (deficit)

Current liabilities:
Accounts payable and accrued liabilities $ 1,339,287 $ 1,378,822
Current income taxes 17,349 34,434
Current portion of long-term debt 985,291 614,485
Advance billings   291,180     299,878  
 
Total current liabilities 2,633,107 2,327,619
 
Deferred taxes on income 214,287 204,289
Tax uncertainties and other income tax liabilities 51,112 61,276
Long-term debt 2,543,476 2,750,405
Other noncurrent liabilities   565,993     597,204  
 
Total liabilities   6,007,975     5,940,793  
 
Stockholders' equity (deficit):
Cumulative preferred stock, $50 par value, 4% convertible 1 1
Cumulative preference stock, no par value, $2.12 convertible 463 483
Common stock, $1 par value 323,338 323,338
Additional paid-in-capital 131,691 148,125
Retained earnings 5,152,241 5,107,734
Accumulated other comprehensive loss (859,315 ) (940,133 )
Treasury stock, at cost   (4,719,046 )   (4,743,208 )
 
Total Pitney Bowes Inc. stockholders' equity (deficit)   29,373     (103,660 )
 
Total liabilities and stockholders' equity (deficit) $ 6,037,348   $ 5,837,133  
 

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