Pitney Bowes Inc. (PBI) financial statements (2020 and earlier)

Company profile

Business Address PITNEY BOWES INC
STAMFORD, CT 06926-0700
State of Incorp. DE
Fiscal Year End December 31
SIC 3579 - Office Machines, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,0409271,0588037681,111939
Cash and cash equivalents9248671,0097656511,079908
Short-term investments1165949381173231
Receivables1,1001,2511,4111,3611,3991,4551,573
Inventory, net of allowances, customer advances and progress billings684290938985104
Inventory684290938985104
Contract with customer, asset 16
Disposal group, including discontinued operation175   52 
Assets held-for-sale47
Income taxes receivable29
Other undisclosed current assets118378696457147
Total current assets:2,2362,3242,6372,3252,3202,7602,838
Noncurrent Assets
Operating lease, right-of-use asset201
Property, plant and equipment376410379315330285245
Long-term investments and receivables6255926526737631,144962
Long-term investments     324 
Accounts and financing receivable, after allowance for credit loss625592652673763820962
Intangible assets, net (including goodwill)1,5151,9942,2251,7371,9331,7551,855
Goodwill1,3241,7671,9521,5711,7461,6731,735
Intangible assets, net (excluding goodwill)19122727216518782120
Contract with customer, asset, net 13
Customer funds     (661)
Deferred costs 174649 14926
Deferred income tax assets72
Other noncurrent assets400413541525544569537
Other undisclosed noncurrent assets41209200214251484308
Total noncurrent assets:3,2313,6494,0423,5123,8223,7263,934
TOTAL ASSETS:5,4675,9736,6795,8376,1416,4866,773
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,3851,4021,4871,3791,4481,5591,645
Accounts payable282286302294302269 
Employee-related liabilities220230260206256320 
Taxes payable17159341790157
Other undisclosed accounts payable and accrued liabilities8668719168458748801,487
Deferred revenue102
Debt202002716144613253,346
Disposal group, including discontinued operation103     
Customer advances and deposits288300353387
Contract with customer, liability185
Other undisclosed current liabilities53679341790(2,763)
Total current liabilities:1,5701,8572,0552,3282,2792,3612,228
Noncurrent Liabilities
Long-term debt and lease obligation2,8973,0663,5592,7502,5082,9273,346
Long-term debt, excluding current maturities2,7203,0663,5592,7502,5082,9273,346
Operating lease, liability178
Liabilities, other than long-term debt714527641863879824714
Contract with customer, liability13
Deferred tax liabilities, net  2042066561
Deferred income tax liabilities274
Liability for uncertainty in income taxes3940117616886186
Other liabilities401475525597605673467
Other undisclosed noncurrent liabilities 283235    
Total noncurrent liabilities:3,6113,8764,4353,6133,3873,7514,060
Total liabilities:5,1815,7336,4905,9415,6666,1126,288
Stockholders' equity
Stockholders' equity attributable to parent, including:286239189(104)17977188
Preferred stock 000000
Common stock323323323323323323323
Treasury stock, value(4,735)(4,674)(4,711)(4,743)(4,573)(4,477)(4,457)
Additional paid in capital99121138148161179197
Accumulated other comprehensive loss(840)(948)(792)(940)(889)(846)(575)
Retained earnings5,4395,4175,2305,1085,1564,8984,699
Other undisclosed stockholders' equity attributable to parent 000111
Stockholders' equity attributable to noncontrolling interest    296296 
Other undisclosed stockholders' equity      296
Total stockholders' equity:286239189(104)475374485
TOTAL LIABILITIES AND EQUITY:5,4675,9736,6795,8376,1416,4866,773

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues3,2053,5223,5503,4073,5783,8223,869
Revenue, net1,4551,2401,2431,2631,153
Cost of revenue(1,922)(1,893)(1,723)(1,515)(1,559)(1,681)(1,839)
Cost of goods and services sold  (1,248)(1,046)(1,067)(1,143)(1,086)
Gross profit:1,2831,6291,8271,8922,0192,1412,030
Operating expenses (1,417)(1,544)(1,646)(1,409)(1,710)(1,627)
Other operating income (expense), net(24)(8)(4)(1)95(91)(33)
Other expenses     (46) 
Other nonrecurring (income) expense(24)(8)(4)(1)95(46)(33)
Operating income:1,259204279246706340371
Nonoperating income4     5
Investment income, nonoperating      5
Net periodic defined benefits expense (reversal of expense), excluding service cost component4 
Interest and debt expense(111)(111)(113)(89)(88)(95)(115)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,125)11911790(7)187142
Income from continuing operations before income taxes:27212283246611431403
Income tax expense (benefit)13(12)(22)(132)(190)(113)(83)
Income from continuing operations:40200261115421318320
Income (loss) from discontinued operations     20(41)
Income before gain (loss) on sale of properties:40200261115421338279
Other undisclosed net income (loss)15424 (3)514(118)
Net income:195224261112426352161
Net loss attributable to noncontrolling interest   (19)(18)(18)(18)
Net income attributable to parent:19522426193408334143
Preferred stock dividends and other adjustments  (0)(0)(0)(0)0
Other undisclosed net loss available to common stockholders, basic(0)(0)    (0)
Net income available to common stockholders, basic:19522426193408334143
Convertible preferred dividends00     
Other undisclosed net income available to common stockholders, diluted  0000 
Net income available to common stockholders, diluted:19522426193408334143

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:195224261112426352161
Other comprehensive income (loss)109(40)148(51)(42)(272)107
Comprehensive income:3031844096038481268
Other undisclosed comprehensive loss, net of tax, attributable to parent   (19)(18)(18)(18)
Comprehensive income, net of tax, attributable to parent:3031844094136562249

Statements sources

The financial statements are based on the company's filings with the 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.

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