| Pitney Bowes Inc. | ||||||||
| Reconciliation of Reported Consolidated Results to Adjusted Results | ||||||||
| (Unaudited) | ||||||||
| (Dollars in thousands, except per share data) | ||||||||
| Three Months Ended March 31, | ||||||||
| 2012 | 2011 | |||||||
|
GAAP income from continuing operations |
||||||||
|
after income taxes, as reported |
$ | 139,338 | $ | 88,186 | ||||
| Restructuring charges and asset impairments | - | 17,306 | ||||||
| Sale of leveraged lease assets | (12,886 | ) | - | |||||
| Tax adjustments | - | 2,179 | ||||||
|
Income from continuing operations |
||||||||
|
after income taxes, as adjusted |
$ | 126,452 | $ | 107,671 | ||||
|
GAAP diluted earnings per share from |
||||||||
|
continuing operations, as reported |
$ | 0.69 | $ | 0.43 | ||||
| Restructuring charges and asset impairments | - | 0.08 | ||||||
| Sale of leveraged lease | (0.06 | ) | - | |||||
| Tax adjustments | - | 0.01 | ||||||
|
Diluted earnings per share from continuing |
||||||||
|
operations, as adjusted |
$ | 0.63 | $ | 0.53 | ||||
|
GAAP net cash provided by operating activities, |
||||||||
|
as reported |
$ | 95,995 | $ | 296,761 | ||||
| Capital expenditures | (50,029 | ) | (34,676 | ) | ||||
| Restructuring payments | 26,245 | 29,745 | ||||||
| Pension contribution | 95,000 | - | ||||||
| Tax payments on sale of leveraged lease assets | 69,233 | - | ||||||
| Reserve account deposits | (25,674 | ) | (5,995 | ) | ||||
| Free cash flow, as adjusted | $ | 210,770 | $ | 285,835 | ||||
|
Pitney Bowes Announces First Quarter Results for 2012
|
|
||||||
|
|
|||||||
|
|||||||
