Pitney Bowes 2010 Annual Report Download - page 71

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share data)
52
7. Current Liabilities
Accounts payable, accrued liabilities, notes payable and current portion of long-term obligations are composed of the following:
December 31,
2010 2009
Accounts payable - trade $ 333,220 $ 308,505
Reserve account deposits 567,620 557,221
Accrued salaries, wages and commissions 246,237 244,170
Accrued restructuring charges 113,200 88,626
Miscellaneous accounts payable and accrued liabilities 564,984 549,732
Accounts payable and accrued liabilities $ 1,825,261 $ 1,748,254
Notes payable $ 50,000 $ 220,794
Current portion of long-term obligations 3,494 5,228
Notes payable & current portion of long-term obligations $ 53,494 $ 226,022
Reserve account deposits represent customers’ prepayment of postage held by our subsidiary, Pitney Bowes Bank. See Note 17 for
further details.
Notes payable at December 31, 2010 and 2009 consists of commercial paper issuances. The weighted average interest rates for notes
payable were 0.32% and 0.09% at December 31, 2010 and 2009, respectively.
We had unused credit facilities of $1.25 billion at December 31, 2010, primarily to support commercial paper issuances. Fees paid to
maintain lines of credit were $1.6 million, $0.8 million and $0.8 million in 2010, 2009 and 2008, respectively.