Pitney Bowes 2007 Annual Report Download - page 57

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PITNEY BOWES INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
December 31,
2007 2006
ASSETS
Current assets:
Cash and cash equivalents ..................................................................................... $ 377,176 $ 239,102
Short-term investments .......................................................................................... 63,279 62,512
Accounts receivable, less allowances of $49,324 and $50,052, respectively ........ 841,072 744,073
Finance receivables, less allowances of $45,859 and $45,643, respectively ......... 1,498,486 1,404,070
Inventories ............................................................................................................. 197,962 237,817
Current income taxes ............................................................................................. 83,227 54,785
Other current assets and prepayments.................................................................... 258,411 231,096
Total current assets.......................................................................................................
3,319,613
2,973,455
Property, plant and equipment, net............................................................................... 627,918 612,640
Rental property and equipment, net ............................................................................. 435,927 503,911
Long-term finance receivables, less allowances of $32,512 and $36,856,
respectively ................................................................................................................
1,533,773
1,530,153
Investment in leveraged leases..................................................................................... 249,191 215,371
Goodwill....................................................................................................................... 2,299,858 1,791,157
Intangible assets, net .................................................................................................... 457,188 365,192
Non-current income taxes ............................................................................................ 28,098 73,739
Other assets .................................................................................................................. 598,377 543,326
Total assets................................................................................................................... $ 9,549,943 $ 8,608,944
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities ............................................................... $ 1,965,567 $ 1,677,501
Current income taxes ............................................................................................ 96,851 142,835
Notes payable and current portion of long-term obligations.................................. 953,767 490,540
Advance billings .................................................................................................... 540,254 465,862
Total current liabilities...........................................................................................
3,556,439
2,776,738
Deferred taxes on income............................................................................................. 472,240 454,929
FIN 48 uncertainties and other income tax liabilities................................................... 285,505 -
Long-term debt............................................................................................................. 3,802,075 3,847,617
Other non-current liabilities ......................................................................................... 406,216 446,306
Total liabilities ............................................................................................................. 8,522,475 7,525,590
Preferred stockholders’ equity in subsidiaries.............................................................. 384,165 384,165
Commitments and contingencies (see Note 15)
Stockholders’ equity:
Cumulative preferred stock, $50 par value, 4% convertible .................................. 7 7
Cumulative preference stock, no par value, $2.12 convertible .............................. 1,003 1,068
Common stock, $1 par value (480,000,000 shares authorized;
323,337,912 shares issued) ...............................................................................
323,338
323,338
Capital in excess of par value ................................................................................ 252,185 235,558
Retained earnings................................................................................................... 4,133,756 4,140,128
Accumulated other comprehensive income ........................................................... 88,656 (131,744)
Treasury stock, at cost (108,822,953 and 102,724,590 shares, respectively) ........ (4,155,642) (3,869,166)
Total stockholders’ equity............................................................................................ 643,303 699,189
Total liabilities and stockholders’ equity ..................................................................... $ 9,549,943 $ 8,608,944
See Notes to Consolidated Financial Statements