Pitney Bowes 2008 Annual Report Download - page 60

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41
PITNEY BOWES INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
December 31,
2008 2007
ASSETS
Current assets:
Cash and cash equivalents $ 376,671 $ 377,176
Short-term investments 21,551 63,279
Accounts receivables, gross 864,931 890,396
Allowance for doubtful accounts receivables (45,264) (49,324)
Accounts receivables, net 819,667 841,072
Finance receivables 1,501,678 1,544,345
Allowance for credit losses (45,932) (45,859)
Finance receivables, net 1,455,746 1,498,486
Inventories 161,321 197,962
Current income taxes 59,594 83,227
Other current assets and prepayments 138,063 174,199
Total current assets 3,032,613 3,235,401
Property, plant and equipment, net 574,260 627,918
Rental property and equipment, net 397,949 435,927
Finance receivables 1,445,822 1,566,285
Allowance for credit losses (25,858) (32,512)
Finance receivables, net 1,419,964 1,533,773
Investment in leveraged leases 201,921 249,191
Goodwill 2,251,830 2,299,858
Intangible assets, net 375,822 457,188
Non-current income taxes 64,387 28,098
Other assets 417,685 598,377
Total assets $ 8,736,431 $ 9,465,731
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable and accrued liabilities $ 1,922,399 $ 1,965,567
Current income taxes 108,662 96,851
Notes payable and current portion of long-term obligations 770,501 953,767
Advance billings 441,556 456,042
Total current liabilities 3,243,118 3,472,227
Deferred taxes on income 254,353 455,374
FIN 48 uncertainties and other income tax liabilities 294,487 285,505
Long-term debt 3,934,865 3,802,075
Other non-current liabilities 823,322 406,216
Total liabilities 8,550,145 8,421,397
Preferred stockholders’ equity in subsidiaries 374,165 384,165
Commitments and contingencies (see Note 15)
Stockholders’ (deficit) equity:
Cumulative preferred stock, $50 par value, 4% convertible 7 7
Cumulative preference stock, no par value, $2.12 convertible 976 1,003
Common stock, $1 par value (480,000,000 shares authorized; 323,337,912
shares issued) 323,338 323,338
Additional paid-in capital 259,306 252,185
Retained earnings 4,278,804 4,150,622
Accumulated other comprehensive (loss) income (596,341) 88,656
Treasury stock, at cost (117,156,719 and 108,822,953 shares, respectively) (4,453,969) (4,155,642)
Total stockholders’ (deficit) equity (187,879) 660,169
Total liabilities and stockholders’ (deficit) equity $ 8,736,431 $ 9,465,731
See Notes to Consolidated Financial Statements