| Pitney Bowes Inc. | ||||||||
| Consolidated Balance Sheets | ||||||||
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(Unaudited in thousands, except per share data) |
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Assets |
December 31,
2014 |
December 31,
2013 (1) |
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| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,079,145 | $ | 907,806 | ||||
| Short-term investments | 32,121 | 31,128 | ||||||
| Accounts receivable, gross | 424,479 | 482,949 | ||||||
| Allowance for doubtful accounts receivable | (10,742 | ) | (13,149 | ) | ||||
| Accounts receivable, net | 413,737 | 469,800 | ||||||
| Finance receivables | 1,019,412 | 1,127,261 | ||||||
| Allowance for credit losses | (19,108 | ) | (24,340 | ) | ||||
| Finance receivables, net | 1,000,304 | 1,102,921 | ||||||
| Inventories | 84,827 | 103,580 | ||||||
| Current income taxes | 40,542 | 28,934 | ||||||
| Other current assets and prepayments | 57,173 | 147,067 | ||||||
| Assets held for sale | 52,271 | 46,976 | ||||||
| Total current assets | 2,760,120 | 2,838,212 | ||||||
| Property, plant and equipment, net | 285,091 | 245,171 | ||||||
| Rental property and equipment, net | 200,380 | 226,146 | ||||||
| Finance receivables | 828,723 | 974,972 | ||||||
| Allowance for credit losses | (9,002 | ) | (12,609 | ) | ||||
| Finance receivables, net | 819,721 | 962,363 | ||||||
| Goodwill | 1,672,721 | 1,734,871 | ||||||
| Intangible assets, net | 82,173 | 120,387 | ||||||
| Non-current income taxes | 96,377 | 73,751 | ||||||
| Other assets | 569,110 | 571,807 | ||||||
| Total assets | $ | 6,485,693 | $ | 6,772,708 | ||||
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Liabilities, noncontrolling interests and stockholders' equity |
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| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | $ | 1,558,731 | $ | 1,644,582 | ||||
| Current income taxes | 90,167 | 157,340 | ||||||
| Notes payable and current portion of long-term obligations | 324,879 | - | ||||||
| Advance billings | 386,846 | 425,833 | ||||||
| Total current liabilities | 2,360,623 | 2,227,755 | ||||||
| Deferred taxes on income | 64,839 | 39,701 | ||||||
| Tax uncertainties and other income tax liabilities | 86,127 | 190,645 | ||||||
| Long-term debt | 2,927,127 | 3,346,295 | ||||||
| Other non-current liabilities | 673,348 | 466,766 | ||||||
| Total liabilities | 6,112,064 | 6,271,162 | ||||||
| Noncontrolling interests (Preferred stockholders' equity in subsidiaries) | 296,370 | 296,370 | ||||||
| Stockholders' equity: | ||||||||
| Cumulative preferred stock, $50 par value, 4% convertible | 1 | 4 | ||||||
| Cumulative preference stock, no par value, $2.12 convertible | 548 | 591 | ||||||
| Common stock, $1 par value | 323,338 | 323,338 | ||||||
| Additional paid-in-capital | 178,852 | 196,977 | ||||||
| Retained earnings | 4,897,708 | 4,715,564 | ||||||
| Accumulated other comprehensive loss | (846,156 | ) | (574,556 | ) | ||||
| Treasury stock, at cost | (4,477,032 | ) | (4,456,742 | ) | ||||
| Total Pitney Bowes Inc. stockholders' equity | 77,259 | 205,176 | ||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 6,485,693 | $ | 6,772,708 | ||||
| (1) | Certain prior year amounts have been revised. | |||||||
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Pitney Bowes Announces Full Year 2014 and Fourth Quarter Financial Results
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