| Pitney Bowes Inc. | |||||||||||
| Consolidated Balance Sheets | |||||||||||
| (Unaudited; in thousands, except share amounts) | |||||||||||
|
Assets |
March 31,
2019 |
December 31,
2018 |
|||||||||
| Current assets: | |||||||||||
|
Cash and cash equivalents |
|
$ | 838,905 | $ | 867,262 | ||||||
|
Short-term investments |
|
65,405 | 59,391 | ||||||||
|
Accounts receivable, net |
|
412,661 | 456,138 | ||||||||
|
Short-term finance receivables, net |
|
684,436 | 758,511 | ||||||||
|
Inventories |
|
68,876 | 62,279 | ||||||||
|
Current income taxes |
|
21,897 | 5,947 | ||||||||
|
Other current assets and prepayments |
|
134,929 | 100,625 | ||||||||
|
Assets of discontinued operations |
|
- | 4,854 | ||||||||
| Total current assets | 2,227,109 | 2,315,007 | |||||||||
| Property, plant and equipment, net | 412,727 | 410,114 | |||||||||
| Rental property and equipment, net | 41,862 | 46,228 | |||||||||
| Long-term finance receivables, net | 545,360 | 536,369 | |||||||||
| Goodwill | 1,754,259 | 1,766,511 | |||||||||
| Intangible assets, net | 223,005 | 227,137 | |||||||||
| Operating lease assets | 152,139 | 156,788 | |||||||||
| Noncurrent income taxes | 61,700 | 66,326 | |||||||||
| Other assets | 388,104 | 419,677 | |||||||||
| Total assets | $ | 5,806,265 | $ | 5,944,157 | |||||||
|
Liabilities and stockholders' equity |
|||||||||||
| Current liabilities: | |||||||||||
|
Accounts payable and accrued liabilities |
|
$ | 1,313,440 | $ | 1,390,362 | ||||||
|
Current operating lease liabilities |
|
35,219 | 37,208 | ||||||||
|
Current income taxes |
|
5,697 | 15,284 | ||||||||
|
Current portion of long-term debt |
|
207,231 | 199,535 | ||||||||
|
Advance billings |
|
213,171 | 235,116 | ||||||||
|
Liabilities of discontinued operations |
|
- | 3,276 | ||||||||
| Total current liabilities | 1,774,758 | 1,880,781 | |||||||||
| Deferred taxes on income | 257,639 | 254,353 | |||||||||
| Tax uncertainties and other income tax liabilities | 51,950 | 39,548 | |||||||||
| Noncurrent operating lease liabilities | 124,873 | 127,237 | |||||||||
| Long-term debt | 3,047,661 | 3,066,073 | |||||||||
| Other noncurrent liabilities | 463,028 | 474,323 | |||||||||
| Total liabilities | 5,719,909 | 5,842,315 | |||||||||
| Stockholders' equity: | |||||||||||
|
Cumulative preferred stock, $50 par value, 4% convertible |
|
1 | 1 | ||||||||
|
Cumulative preference stock, no par value, $2.12 convertible |
|
388 | 396 | ||||||||
|
Common stock, $1 par value |
|
323,338 | 323,338 | ||||||||
|
Additional paid-in-capital |
|
109,166 | 121,475 | ||||||||
|
Retained earnings |
|
5,267,615 | 5,279,682 | ||||||||
|
Accumulated other comprehensive loss |
|
(918,072 | ) | (948,961 | ) | ||||||
|
Treasury stock, at cost |
|
(4,696,080 | ) | (4,674,089 | ) | ||||||
| Total stockholders' equity | 86,356 | 101,842 | |||||||||
| Total liabilities and stockholders' equity | $ | 5,806,265 | $ | 5,944,157 | |||||||
Pitney Bowes Announces First Quarter 2019 Financial Results
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