Pitney Bowes Inc. (PBI) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
PITNEY BOWES INC STAMFORD, CT 06926-0700 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3579 - Office Machines, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 579,428 | 560,676 | 527,375 | 681,153 | 606,661 | 582,216 | |||
| Cash and cash equivalents | 557,696 | 541,704 | 511,761 | 669,981 | 596,647 | 570,697 | |||
| Short-term investments | 21,732 | 18,972 | 15,614 | 11,172 | 10,014 | 11,519 | |||
| Receivables | 845,136 | 844,101 | 842,162 | 917,319 | 866,669 | 842,168 | |||
| Inventory, net of allowances, customer advances and progress billings | 83,781 | 92,783 | 94,016 | 83,720 | 89,946 | 82,797 | |||
| Inventory | 83,781 | 92,783 | 94,016 | 83,720 | 89,946 | 82,797 | |||
| Asset, held-for-sale, not part of disposal group | 108,677 | ||||||||
| Other undisclosed current assets | 109,189 | 117,132 | 125,746 | 115,824 | 146,636 | 151,090 | |||
| Total current assets: | 1,617,534 | 1,614,692 | 1,589,299 | 1,798,016 | 1,709,912 | 1,766,948 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 54,063 | ||||||||
| Operating lease, right-of-use asset | 309,995 | 284,783 | 287,703 | 296,129 | 259,248 | 242,452 | |||
| Nontrade receivables | 56,339 | 62,849 | |||||||
| Property, plant and equipment | 427,958 | 427,438 | |||||||
| Long-term investments and receivables | 641,251 | 640,097 | 636,518 | 627,124 | 597,198 | 592,928 | |||
| Accounts and financing receivable, after allowance for credit loss | 641,251 | 640,097 | 636,518 | 627,124 | 597,198 | 592,928 | |||
| Intangible assets, net (including goodwill) | 1,011,529 | 1,022,364 | 1,143,688 | 1,144,895 | 1,125,339 | 1,143,222 | |||
| Goodwill | 945,418 | 952,302 | 1,069,660 | 1,066,951 | 1,045,940 | 1,060,452 | |||
| Intangible assets, net (excluding goodwill) | 66,111 | 70,062 | 74,028 | 77,944 | 79,399 | 82,770 | |||
| Deferred income tax assets | 55,378 | 44,859 | 44,595 | 46,613 | |||||
| Other noncurrent assets | 370,716 | 388,728 | 390,298 | 380,419 | 388,704 | 410,865 | |||
| Other undisclosed noncurrent assets | 416,301 | 427,841 | 438,748 | 394,096 | 28,451 | 30,889 | |||
| Total noncurrent assets: | 2,805,170 | 2,808,672 | 2,941,550 | 2,943,339 | 2,883,237 | 2,910,643 | |||
| TOTAL ASSETS: | 4,422,704 | 4,423,364 | 4,530,849 | 4,741,355 | 4,593,149 | 4,677,591 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 793,609 | 812,474 | 800,050 | 907,083 | 766,170 | 827,639 | |||
| Accounts payable | 315,351 | ||||||||
| Accrued liabilities | 1,819 | 2,929 | 981 | 218,374 | |||||
| Other undisclosed accounts payable and accrued liabilities | 791,790 | 809,545 | 799,069 | 373,358 | 766,170 | 827,639 | |||
| Deferred revenue | 80,405 | 74,743 | 78,363 | 203,111 | 86,648 | 88,504 | |||
| Debt | 56,533 | 264,980 | 262,439 | 32,764 | 27,133 | 24,752 | |||
| Disposal group, including discontinued operation | 18,700 | ||||||||
| Other undisclosed current liabilities | 709,979 | 704,423 | 657,814 | 584,845 | 718,684 | 669,337 | |||
| Total current liabilities: | 1,640,526 | 1,856,620 | 1,798,666 | 1,727,803 | 1,598,635 | 1,628,932 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,101,595 | 1,884,798 | 1,910,529 | 2,172,502 | 2,429,354 | 2,422,005 | |||
| Long-term debt, excluding current maturities | 2,101,595 | 1,884,798 | 1,910,529 | 2,172,502 | 2,189,566 | 2,194,767 | |||
| Liabilities, other than long-term debt | 805,692 | 757,433 | 761,690 | 780,397 | 573,436 | 582,500 | |||
| Deferred income tax liabilities | 238,391 | 236,859 | 268,193 | 263,131 | 273,455 | 268,416 | |||
| Liability for uncertainty in income taxes | 21,386 | 24,745 | 23,778 | 23,841 | 31,566 | 31,643 | |||
| Other liabilities | 265,995 | 241,778 | 213,561 | 227,729 | 268,415 | 282,441 | |||
| Operating lease, liability | 279,920 | 254,051 | 256,158 | 265,696 | 239,788 | 227,238 | |||
| Total noncurrent liabilities: | 2,907,287 | 2,642,231 | 2,672,219 | 2,952,899 | 3,002,790 | 3,004,505 | |||
| Total liabilities: | 4,547,813 | 4,498,851 | 4,470,885 | 4,680,702 | 4,601,425 | 4,633,437 | |||
| Equity | |||||||||
| Equity, attributable to parent | (125,109) | (75,487) | 59,964 | 60,653 | (8,276) | 44,154 | |||
| Common stock | 323,338 | 323,338 | 323,338 | 323,338 | 323,338 | 323,338 | |||
| Treasury stock, value | (4,482,815) | (4,499,473) | (4,504,248) | (4,552,798) | (4,554,191) | (4,566,379) | |||
| Accumulated other comprehensive loss | (838,071) | (807,993) | (819,978) | (835,564) | (905,453) | (850,053) | |||
| Retained earnings | 4,872,439 | 4,908,641 | 5,060,852 | 5,125,677 | 5,128,030 | 5,137,248 | |||
| Total equity: | (125,109) | (75,487) | 59,964 | 60,653 | (8,276) | 44,154 | |||
| TOTAL LIABILITIES AND EQUITY: | 4,422,704 | 4,423,364 | 4,530,849 | 4,741,355 | 4,593,149 | 4,677,591 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 783,751 | 776,481 | 834,538 | 908,691 | 830,914 | 871,495 | ||
| Cost of revenue | (580,677) | (553,566) | (589,313) | (644,731) | (601,397) | (636,293) | ||
| Gross profit: | 203,074 | 222,915 | 245,225 | 263,960 | 229,517 | 235,202 | ||
| Operating expenses | (219,778) | (373,865) | (256,212) | (256,543) | (219,388) | (237,892) | ||
| Other operating income, net (Other Nonrecurring (Income) Expense) | 228 | 2,836 | 1,319 | 8,398 | ||||
| Operating income (loss): | (16,704) | (150,722) | (8,151) | 8,736 | 18,527 | (2,690) | ||
| Nonoperating income (expense) (Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component) | 2,683 | 1,751 | 1,710 | (1,079) | (1,427) | (958) | ||
| Interest and debt expense | (26,782) | (22,920) | (22,342) | (23,164) | (23,685) | (21,007) | ||
| Loss from continuing operations before equity method investments, income taxes: | (40,803) | (171,891) | (28,783) | (15,507) | (6,585) | (24,655) | ||
| Other undisclosed income from continuing operations before income taxes | 24,099 | 20,941 | 17,796 | 22,924 | 16,714 | 21,965 | ||
| Income (loss) from continuing operations before income taxes: | (16,704) | (150,950) | (10,987) | 7,417 | 10,129 | (2,690) | ||
| Income tax expense (benefit) | 4,185 | 9,415 | 3,250 | (1,121) | (4,642) | 7,026 | ||
| Income (loss) from continuing operations: | (12,519) | (141,535) | (7,737) | 6,296 | 5,487 | 4,336 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | ✕ | 5,487 | 4,336 | |
| Net income (loss) available to common stockholders, diluted: | (12,519) | (141,535) | (7,737) | 6,296 | 5,487 | 4,336 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (12,519) | (141,535) | (7,737) | 6,296 | 5,487 | 4,336 | ||
| Other comprehensive income (loss) | 1,294 | 820 | 968 | (67,510) | 4,854 | 4,777 | ||
| Comprehensive income (loss): | (11,225) | (140,715) | (6,769) | (61,214) | 10,341 | 9,113 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (31,372) | 11,165 | 14,618 | 137,399 | (60,254) | (54,500) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (42,597) | (129,550) | 7,849 | 76,185 | (49,913) | (45,387) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.