Pitney bowes inc (PBI)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09
Cash flows from operating activities:
Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-79,079

70,105

58,184

62,640

90,873

93,876

156,363

85,206

67,122

136,882

98,859

49,267

94,682

-933

-4,639

72,100

114,931

81,127

104,217

163,264

262,068

177,360

105,529

90,898

67,618

93,528

65,924

83,633

-

-

-

-

Net Income (Loss) Attributable to Parent

-208,483

-

-3,125

23,697

-2,659

-

80,277

51,595

59,970

-

57,358

48,901

65,133

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

121,833

108,923

Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent

10,064

168,659

-6,388

-7,695

-116

817

49,594

1,208

8,487

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for Restructuring

6,047

8,303

4,562

6,037

8,246

13,488

11,714

11,943

15,585

-2,362

10,791

5,235

12,416

10,910

17,295

12,210

21,656

16,030

15,281

8,901

21,874

14,011

8,621

14,593

18,937

18,167

14,098

10,980

16,275

13,972

12,871

21,630

26,245

28,623

26,411

22,223

29,745

-210,278

23,958

39,035

27,720

38,333

17,647

16,409

32,701

Tax payments related to other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,773

3,215

23,160

-

-

-

-

-

-

-

-

213,377

-14,345

-154,137

69,233

0

0

0

0

-

-

-

-

-

-

-

-

Adjustments to reconcile net loss to net cash provided by operating activities:
Restructuring charges

3,817

12,990

45,739

7,177

3,700

-

-

-

-

15,740

1,470

25,557

2,082

10,792

16,494

26,076

6,933

11,477

36

14,350

-81

61,894

3,432

8,299

9,841

30,404

35,816

19,955

0

-

-

-

-

84,177

32,956

4,994

26,024

115,247

21,630

31,870

13,527

-

-

-

-

Loss on disposition of businesses

0

0

0

0

-18,000

0

0

0

0

-

-

-

-

-1,848

-1,839

-40

-2,059

-3,243

1,521

108,369

-821

-953

2,952

26,691

-539

-7,135

-3,564

-31,751

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of leveraged lease assets, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

12,886

0

26,689

0

0

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-37,000

-

-

-

0

-

-

-

-

-

-

-

-

-

0

0

10,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for settlement of derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

20,281

Depreciation and amortization

40,719

40,628

35,701

45,928

36,885

36,309

31,820

40,597

39,738

-3,098

43,178

42,415

44,295

33,840

50,687

45,238

44,300

45,826

42,333

42,657

42,496

54,728

49,643

49,122

44,595

43,866

53,675

56,475

57,227

64,049

59,900

67,237

64,370

67,141

67,366

68,317

69,318

72,048

74,774

77,130

79,701

76,212

87,443

87,854

87,386

Goodwill impairment

198,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation

1,521

7,282

6,702

2,381

6,784

5,271

6,618

5,880

3,273

6,077

5,781

6,893

5,638

-1,132

6,503

3,208

6,303

6,128

3,854

6,031

5,036

4,788

4,682

4,090

3,886

2,860

4,820

3,537

3,704

4,722

4,653

4,475

4,377

5,299

4,737

4,738

3,918

4,245

5,081

5,730

5,055

5,559

5,332

6,362

5,270

Allowance for credit losses

15,926

-

-

-

10,655

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt fees

-2,300

-

-

-

-2,456

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Expenses, net

-

-

-

-

-

-

-

-

904

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,300

0

0

Pension plan settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

36,731

0

0

0

0

-

-

-

-

-

-

-

-

0

0

0

-95,000

0

0

-123,000

0

-

-

-

-

-

-

-

-

Proceeds from settlement of derivative instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-4,838

0

0

0

0

-

-

-

-

63,548

-31,774

0

0

-

-

-

-

Changes in operating assets and liabilities, net of acquisitions/divestitures:
Decrease in accounts receivable

-7,182

4,191

39,212

-21,774

-29,947

45,686

8,252

19,385

-29,292

50,880

14,548

9,502

-67,765

24,059

-5,025

30,801

-77,629

65,053

7,356

12,459

-48,943

22,629

-1,362

-26,643

-40,135

52,569

-44,129

3,981

-71,401

61,203

2,041

-25,378

-34,798

54,471

-31,392

-30,162

-51,868

152,807

-14,560

-34,674

-60,369

50,607

-35,752

-26,269

-72,768

Decrease in finance receivables

-18,843

9,036

7,070

1,644

-43,388

9,848

-19,879

-9,469

-33,780

-21,062

-49,859

-13,525

-63,390

-6,703

-39,684

-19,561

-53,935

-4,157

-17,092

-9,502

-64,590

-10,875

-24,430

-29,740

-52,857

5,225

-31,884

-20,300

-76,628

-2,723

-31,408

-49,108

-63,926

-21,044

-29,316

-50,182

-89,611

349,025

-43,031

-51,437

-74,205

-3,235

-38,446

-62,894

-102,248

Increase in inventories

4,815

-8,971

3,678

4,649

6,232

-448

-1,552

5,224

-1,783

-7,924

4,375

-18,433

22,195

-17,609

-2,112

11,112

11,489

-13,229

3,436

5,385

12,029

-8,250

-2,706

1,405

447

-30,221

-7,104

-21,056

-8,807

-7,021

-1,808

10,353

-925

99

5,296

-3,975

11,410

-43,249

-512

24,696

7,152

-19,031

2,106

-6,761

11,499

Increase in other current assets and prepayments

7,969

-3,450

-4,779

1,377

33,948

-704

-13,072

11,694

11,963

-8,669

-6,928

8,982

9,746

4,029

3,894

-15,161

7,955

-6,140

713

2,699

13,285

-23,953

22,545

4,349

4,020

-16,760

8,778

414

4,396

-17,295

6,681

743

13,002

-20,612

8,173

-5,301

835

-9,450

-3,846

-513

5,151

249

-5,865

18,112

2,540

Decrease in accounts payable and accrued liabilities

-104,556

29,018

57,342

-59,882

-14,986

78,147

-26,289

20,189

-74,805

20,138

30,357

-36,317

-32,829

22,035

-44,776

35,025

-110,067

43,759

-8,381

27,204

-157,304

67,229

-31,762

25,760

-114,327

96,530

-18,894

-4,187

-169,292

110,133

-56,259

40,862

-141,759

89,006

-16,731

-5,999

-79,362

97,605

-4,743

-2,608

-61,488

68,586

-28,260

-26,040

-141,542

Increase (decrease) in current and noncurrent income taxes

10,797

-9,718

-31,134

3,098

-2,365

-28,321

-8,345

-7,320

15,859

7,894

9,446

-54,398

13,542

-3,204

12,344

-24,181

13,380

-47,327

18,259

-2,794

53,429

-76,298

16,561

2,163

5,494

-5,539

101,339

-78,006

-11,472

77,252

-47,794

33,468

53,087

-391,524

28,658

47,038

58,197

2,200

9,465

-63,760

57,312

6,158

57,008

-42,112

58,561

(Decrease) increase in advance billings

-4,148

-6,559

8,909

-13,589

878

-7,399

6,195

-766

-17,832

-1,563

-9,130

-13,778

-9,194

-1,249

-1,773

-46,699

1,289

1,879

-16,385

-15,121

30,971

-2,902

-26,994

-25,322

36,523

6,729

-29,230

-17,050

23,101

5,318

-18,729

-25,988

43,166

9,538

-23,277

-21,215

22,100

19,645

-19,127

-10,782

21,694

-3,746

-41,889

-1,301

44,192

Other, net

18,658

7,389

4,016

-13,758

15,612

7,504

-15,838

13,745

11,154

710

11,606

-10,267

21,459

-2,773

-720

-17,601

7,077

-35,256

-22,242

43

-128

-15,975

-23,899

-2,515

-210

10,329

-499

-15,271

-15,789

-12,878

-16,319

-17,018

-1,592

4,495

9,803

-4,841

-6,179

4,466

8,104

4,149

-7,569

5,009

7,056

1,083

-5,686

Net cash (used in) provided by operating activities - continuing operations

-28,479

76,509

72,763

25,192

68,471

160,653

77,421

67,948

44,773

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by operating activities - discontinued operations

-37,805

-6,586

22,739

-8,138

1,257

-76,344

26,656

16,916

24,856

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by operating activities

-66,284

69,923

95,502

17,054

69,728

84,309

104,077

84,864

69,629

123,581

145,930

30,641

154,006

199,763

137,775

95,091

63,493

171,589

150,392

97,121

103,887

260,856

116,985

174,831

105,616

131,264

214,525

146,875

132,160

255,560

64,796

268,452

71,380

198,531

301,055

152,640

296,761

286,040

242,269

122,248

301,554

91,644

249,037

206,916

276,471

Cash flows from investing activities:
Purchases of available-for-sale securities

67,312

12,016

38,787

6,391

0

7,257

25,967

18,381

29,922

16,484

38,166

36,097

34,308

49,676

85,949

45,524

31,661

51,785

40,132

44,138

69,201

36,186

30,967

212,224

401,205

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,785

-2,143

-

22,619

-7,703

8,334

-107,017

64,032

25,092

11,144

-428,257

28,998

84,146

-242

-11,254

19,110

6,903

-6,397

Proceeds from sales/maturities of available-for-sale securities

24,102

30,524

23,060

23,560

31,404

108,466

31,197

21,113

15,044

23,561

28,027

27,517

34,396

44,272

82,570

38,645

46,209

47,627

41,443

49,582

68,411

27,431

8,497

211,531

381,268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net activity from short-term and other investments

-48,431

-13,604

90,810

-170

1,778

-3,359

2,480

5,603

-16,562

203

-123,221

127,000

4,303

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

25,778

42,032

33,894

33,633

27,694

32,515

25,814

50,464

29,017

-104

42,507

39,924

35,920

43,700

44,173

30,689

40,670

36,418

40,716

45,704

43,908

62,048

48,920

42,207

30,143

34,120

29,951

34,602

38,839

48,770

39,065

38,722

50,029

32,951

35,012

53,341

34,676

29,591

31,538

30,272

28,367

40,219

36,319

42,414

47,776

Proceeds from sale of businesses, net of cash transferred

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,213

-275

101,993

-539

387,053

2,627

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions, net of cash acquired

1,281

0

17,218

0

4,882

8,077

0

0

2,407

474,964

0

0

7,889

-100

24,525

46

13,371

6,304

-4,140

391,531

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-153,037

65,150

10,350

0

-

-

-

-

Proceeds from sale of leveraged lease assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

105,506

0

101,784

0

0

-

-

-

-

-

-

-

-

Change in customer deposits at Pitney Bowes Bank

888

-

-11,441

-14,720

23,036

-

-905

695

-6,654

-

5,022

-21,860

19,346

-

-8,956

-9,110

16,253

-

4,166

1,387

20,077

-

12,563

-11,803

15,159

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net investment in external financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-515

-506

-

3,330

-2,639

-825

1,781

-1,326

-4,692

1,560

-7,835

476

1,241

1,400

-2,672

860

1,120

-764

Other investing activities

230

750

750

750

7,841

1,750

0

1,250

1,250

1,250

1,500

1,500

1,500

-512

2,940

-306

4,786

-4,328

-2,268

-1,336

593

-1,962

9,428

-199

-6,690

-7,448

-31,432

-1,138

27,327

-6,806

17,707

-28,008

25,674

-49,882

32,616

-24,083

5,995

-4,994

14,062

-30,688

11,221

-7,900

7,768

-23,207

21,675

Net cash used in investing activities - continuing operations

-22,956

2,546

-146,958

-2,324

-33,827

76,370

-22,159

-55,280

-24,336

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities - discontinued operations

-2,502

688,702

-18,572

1,060

-1,060

-1,484

337,185

-306

-863

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities - continuing operations

-25,458

691,248

-165,530

-1,264

-34,887

74,886

315,026

-55,586

-25,199

-465,650

69,076

-155,921

-68,870

-43,758

-53,399

42,136

-60,532

-97,884

-44,508

-95,433

-65,368

-73,012

-93,656

71,095

-59,088

358,330

-31,156

-21,489

-64,529

-25,665

-76,061

35,638

-20,644

23,083

-31,202

-55,922

-53,375

-25,202

-140,224

-95,321

-40,746

-18,393

-64,057

-27,230

-62,290

Cash flows from financing activities:
Proceeds from the issuance of long-term debt

816,544

-

-

-

0

-

-

-

-

-

-

-

-

0

594,744

0

300,000

150,000

0

950

0

16,000

0

0

492,525

0

0

0

411,613

340,000

0

0

0

-

-

-

-

0

0

0

0

0

0

0

297,513

Principal payments of long-term debt

932,600

727,549

177,553

12,546

12,541

5,039

305,042

5,054

255,045

350,101

385,126

150,045

79,278

0

55

0

370,952

111,118

50,043

80,030

274,879

0

0

100,000

499,850

299,570

0

375,000

404,637

0

0

400,000

150,000

0

0

0

0

0

0

0

0

-

-

-

-

Premiums and fees paid to extinguish debt

32,645

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-319,875

50,325

179,550

-60,000

50,000

0

100,000

0

0

0

0

-

-

-

-

-

-

-

177,830

0

0

-42,300

-7,700

-81,562

-11,897

44,659

-121,994

55,794

30,625

-91,435

-384,650

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,498

3,266

3,670

3,500

2,736

3,232

2,463

2,992

2,978

3,884

2,821

2,279

Dividends paid to stockholders

8,523

8,507

8,508

8,938

9,408

35,202

35,183

35,097

35,016

34,966

34,997

34,960

34,567

34,817

34,812

34,969

36,010

36,956

37,521

37,833

37,804

37,648

37,963

38,025

37,975

37,891

37,849

37,759

75,347

75,296

75,257

75,087

74,938

-

-

-

-

-

-

-

-

74,373

74,559

74,326

74,297

Dividends paid to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-28,278

0

9,137

0

5,771

4,622

4,571

4,521

Proceeds from the issuance of common stock under employee stock-based compensation plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,842

928

3,099

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of subsidiary shares from noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

7,718

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock repurchases

0

0

5,000

60,858

39,142

0

0

0

0

-

-

-

-

0

2,491

66,325

128,451

31,719

100,000

0

0

-

-

-

-

0

3,621

-1,745

-1,876

6,989

-2,715

-2,215

-2,059

-

-

-

-

-200,000

100,000

0

0

-

-

-

-

Other financing activities

-2,372

-13,378

10,639

-436

-2,901

-256

-5,879

650

-50,256

38,751

1,927

107

-5,658

-1,433

-433

-35

-4,962

-7,861

2,946

872

713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75,423

-

75,793

75,757

75,649

-

-

-

-

Net cash used in financing activities

-159,596

-359,448

-180,422

-82,778

-63,992

-40,497

-346,104

-39,501

-340,317

-347,315

623,691

210,874

-119,503

-345,590

237,078

-60,192

-60,825

-106,841

-134,618

-125,229

-211,970

-29,516

-86,124

-146,285

-49,919

-346,394

-34,971

-420,202

-66,495

257,841

-72,542

-659,890

-45,049

-80,592

-121,546

-173,256

-79,623

-163,087

-184,458

-37,772

-194,651

-100,002

-194,672

-167,511

-163,676

Effect of exchange rate changes on cash and cash equivalents

-10,032

7,868

-5,741

-875

794

-9,728

-2,612

-19,782

6,741

1,502

17,642

15,417

9,398

-30,641

-422

-15,551

19,906

-6,017

-9,467

6,032

-34,935

-11,497

-19,430

2,918

-1,073

-4,615

2,670

-6,280

-4,748

751

8,824

-18,693

12,340

22

-11,561

2,917

3,943

566

9,008

-6,644

-1,954

-1,640

5,558

9,870

-3,959

Change in cash and cash equivalents

-261,370

409,591

-256,191

-67,863

-28,357

108,970

70,387

-30,005

-289,146

-687,882

856,339

101,011

-24,969

-220,226

321,032

61,484

-37,958

-39,153

-38,201

-117,509

-208,386

146,831

-82,225

102,559

-4,464

138,585

151,068

-301,096

-3,612

488,487

-74,983

-415,781

59,315

141,044

136,746

-73,621

167,706

98,317

-73,405

-17,489

64,203

-28,391

-4,134

22,045

46,546

Cash interest paid

44,891

46,766

32,663

44,887

33,393

43,496

38,285

42,341

46,998

37,352

49,522

29,416

52,989

18,208

54,048

18,745

59,566

18,449

59,950

18,701

68,187

18,622

68,011

19,243

74,374

36,567

67,147

23,141

72,650

20,773

70,642

21,905

77,572

24,477

77,551

22,573

77,558

22,838

74,174

22,080

72,788

26,037

70,116

26,354

72,749

Cash income tax payments, net of refunds

13,270

1,582

8,179

7,277

10,071

8,738

-2,076

14,684

4,560

-34,774

9,372

60,138

18,511

31,812

11,262

58,640

25,585

43,107

19,831

54,742

21,197

86,511

44,941

66,092

5,649

114,036

-922

74,447

36,871

61,195

81,092

35,850

28,148

113,187

-60,800

11,644

-19,503

45,471

47,853

113,406

24,820

64,117

14,676

109,758

9,374