Pitney Bowes 2010 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2010 Pitney Bowes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 126

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126

10
ITEM 6. – SELECTED FINANCIAL DATA
The following tables summarize selected financial data for the Company, and should be read in conjunction with the more detailed
consolidated financial statements and related notes thereto included under Item 8 of this Form 10-K.
Summary of Selected Financial Data
(Dollars in thousands, except per share amounts)
Years ended December 31,
2010 2009 2008 2007 2006
Total revenue $ 5,425,254 $ 5,569,171 $ 6,262,305 $ 6,129,795 $ 5,730,018
Total costs and expenses 4,890,677 4,875,995 5,549,128 5,469,084 4,815,528
Income from continuing operations
before income taxes 534,577 693,176 713,177 660,711 914,490
Provision for income taxes 205,770 240,154 244,929 280,222 335,004
Income from continuing operations 328,807 453,022 468,248 380,489 579,486
(Loss) gain from discontinued operations,
net of income tax (18,104) (8,109) (27,700) 5,534 (460,312)
Net income before attribution of
noncontrolling interests 310,703 444,913 440,548 386,023 119,174
Less: Preferred stock dividends of subsidiaries
attributable to noncontrolling interests 18,324 21,468 20,755 19,242 13,827
Net income $ 292,379 $ 423,445 $ 419,793 $ 366,781 $ 105,347
Basic earnings per share of common stock attributable to common stockholders (1):
Continuing operations $ 1.51 $2.09 $ 2.15 $ 1.65 $ 2.54
Discontinued operations (0.09) (0.04) (0.13) 0.03 (2.07)
Net income $ 1.42 $2.05 $ 2.01 $ 1.68 $ 0.47
Diluted earnings per share of common stock attributable to common stockholders (1):
Continuing operations $ 1.50 $2.08 $ 2.13 $ 1.63 $ 2.51
Discontinued operations (0.09) (0.04) (0.13) 0.03 (2.04)
Net income $ 1.41 $2.04 $ 2.00 $ 1.66 $ 0.47
Cash dividends paid to stockholders $ 301,456 $ 297,555 $ 291,611 $ 288,790 $ 285,051
Cash dividends per share of common stock $ 1.46 $1.44 $ 1.40 $ 1.32 $ 1.28
Depreciation and amortization $ 303,653 $ 338,895 $ 379,117 $ 383,141 $ 363,258
Capital expenditures $ 119,768 $ 166,728 $ 237,308 $ 264,656 $ 327,887
Balance sheet
Total assets $ 8,444,023 $ 8,571,039 $ 8,810,236 $ 9,465,731 $ 8,527,331
Long-term debt $ 4,239,248 $ 4,213,640 $ 3,934,865 $ 3,802,075 $ 3,847,617
Total debt $ 4,292,742 $ 4,439,662 $ 4,705,366 $ 4,755,842 $ 4,338,157
Noncontrolling interests (Preferred
Stockholders’ equity in subsidiaries) $ 296,370 $ 296,370 $ 374,165 $ 384,165 $ 384,165
Stockholders’ (deficit) equity (2) $ (96,581) $ (3,152) $ (303,594) $ 544,454 $ 600,340
(1) The sum of the earnings per share amounts may not equal the totals above due to rounding.
(2) Stockholders’ (deficit) equity has been reduced for all periods presented for the impact of an opening retained earnings adjustment of $16,815 pertaining to prior
periods. See Note 9 to the Consolidated Financial Statements for further details.