Pitney Bowes 2002 Annual Report Download - page 31

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'82 '83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03
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$1,000
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Deferred Taxes
Depreciation &
Amortization
Net Income
Working Capital
Finance Receivables
Rental Assets
Other CAPEX
Discretionary
Dividends
$682
Sources Uses Free Cash Flow
*Excludes special items
∏Free Cash Flow*(in millions)
Our free cash flow gives us the financial flexibility for dividends,
share repurchases and reinvestments in our business.
∏Dividend Growth (in dollars)
We have achieved twenty-one consecutive years
of growth in our dividend per common share.