Pitney Bowes Announces Full Year and Fourth Quarter 2017 Financial Results

(1)

    The sum of the earnings per share amounts may not equal the totals due to rounding.
 

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

Assets

      December 31,

2017

      December 31,

2016

Current assets:
Cash and cash equivalents $ 1,009,021 $ 764,522
Short-term investments 48,988 38,448
Accounts receivable, net 524,424 455,527
Short-term finance receivables, net 828,003 893,950
Inventories 89,679 92,726
Current income taxes 58,439 11,373
Other current assets and prepayments   77,954     68,637  
 
Total current assets 2,636,508 2,325,183
 
Property, plant and equipment, net 379,044 314,603
Rental property and equipment, net 185,741 188,054
Long-term finance receivables, net 652,087 673,207
Goodwill 1,952,444 1,571,335
Intangible assets, net 272,186 165,172
Noncurrent income taxes 59,909 74,806
Other assets   540,796     524,773  
 
Total assets $ 6,678,715   $ 5,837,133  
 

Liabilities and stockholders' equity (deficit)

Current liabilities:
Accounts payable and accrued liabilities $ 1,487,575 $ 1,378,822
Current income taxes 8,823 34,434
Current portion of long-term debt 271,057 614,485
Advance billings   288,372     299,878  
 
Total current liabilities 2,055,827 2,327,619
 
Deferred taxes on income 236,974 204,289
Tax uncertainties and other income tax liabilities 116,551 61,276
Long-term debt 3,559,278 2,750,405
Other noncurrent liabilities   515,549     597,204  
 
Total liabilities   6,484,179     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 441 483
Common stock, $1 par value 323,338 323,338
Additional paid-in-capital 138,367 148,125
Retained earnings 5,229,584 5,107,734
Accumulated other comprehensive loss (786,198 ) (940,133 )
Treasury stock, at cost   (4,710,997 )   (4,743,208 )
 
Total Pitney Bowes Inc. stockholders' equity (deficit)   194,536     (103,660 )
 
Total liabilities and stockholders' equity (deficit) $ 6,678,715   $ 5,837,133  
 

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