Pitney Bowes 2010 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 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

41
PITNEY BOWES INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
(In thousands, except per share data)
Preferred
stock
Preference
stock
Common
stock
Additional
paid-in capital
Comprehensive
income (loss)
Retained
earnings
Accumulated
other
comprehensive
(loss) income
Treasury
stock
Balance, December 31, 2007 $ 7 $ 1,003 $ 323,338 $ 252,185 - $ 4,051,722 $ 88,656 $ (4,155,642)
Tax adjustment (see Note 9) (14,401) (2,414)
Adjusted balances 4,037,321 86,242
Net income $ 419,793 419,793
Other comprehensive income, net of tax:
Foreign currency translations (305,452) (305,452)
Net unrealized loss on derivative
instruments, net of tax of ($12.4) million (18,670) (18,670)
Net unrealized gain on investment
securities, net of tax of $0.4 million 580 580
Net unamortized loss on pension and
postretirement plans, net of tax of ($216.1) million (375,544) (375,544)
Amortization of pension and postretirement
costs, net of tax of $8.6 million 14,089 14,089
Comprehensive loss $ (265,204)
Cash dividends:
Preference (77)
Common (291,534)
Issuances of common stock (11,573) 34,268
Conversions to common stock (27) (609) 636
Pre-tax stock-based compensation 26,402
Adjustments to additional paid in
capital, tax effect from share-
based compensation (7,099)
Repurchase of common stock (333,231)
Balance, December 31, 2008 7 976 323,338 259,306 4,165,503 (598,755) (4,453,969)
Net income $ 423,445 423,445
Other comprehensive income, net of tax:
Foreign currency translations 119,820 119,820
Net unrealized gain on derivative
instruments, net of tax of $4.9 million 7,214 7,214
Net unrealized loss on investment
securities, net of tax of ($0.1) million (283) (283)
Net unamortized loss on pension and
postretirement plans, net of tax of $8.4 million (5,116) (5,116)
Amortization of pension and postretirement
costs, net of tax of $10.6 million 17,328 17,328
Comprehensive income $ 562,408
Cash dividends:
Preference (72)
Common (297,483)
Issuances of common stock (22,017) 36,419
Conversions to common stock (3) (108) (2,343) 2,454
Pre-tax stock-based compensation 21,761
Adjustments to additional paid in
capital, tax effect from share-
based compensation (574)
Balance, December 31, 2009 4 868 323,338 256,133 4,291,393 (459,792) (4,415,096)
Net income $ 292,379 292,379
Other comprehensive income, net of tax:
Foreign currency translations (15,685) (15,685)
Net unrealized gain on derivative
instruments, net of tax of $0.8 million 1,293 1,293
Net unrealized loss on investment
securities, net of tax of $0.5 million 790 790
Net unamortized loss on pension and
postretirement plans, net of tax of $(17.2) million (28,710) (28,710)
Amortization of pension and postretirement
costs, net of tax of $16.0 million 28,298 28,298
Comprehensive income $ 278,365
Cash dividends:
Preference (65)
Common (301,391)
Issuances of common stock (24,039) 33,249
Conversions to common stock (116) (1,618) 1,734
Pre-tax stock-based compensation 20,452
Adjustments to additional paid in
capital, tax effect from share-
based compensation
Repurchase of common stock (100,000)
Balance, December 31, 2010 $ 4 $ 752 $ 323,338 $ 250,928 $ 4,282,316 $ (473,806) $ (4,480,113)
See Notes to Consolidated Financial Statements