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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
47
Allowance for Credit Losses
Activity in the allowance for credit losses for finance receivables for the years ended December 31, 2012, 2011 and 2010 was as
follows:
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
Balance at December 31, 2009 $ 31,005 $ 13,077 $ 25,839 $ 2,237 $ 72,158
Amounts charged to expense 13,211 6,719 20,046 2,024 42,000
Accounts written off (16,424) (6,478)(19,677)(2,149) (44,728)
Balance at December 31, 2010 27,792 13,318 26,208 2,112 69,430
Amounts charged to expense 13,726 5,087 7,631 1,610 28,054
Accounts written off (12,857) (6,366)(13,567)(1,264) (34,054)
Balance at December 31, 2011 28,661 12,039 20,272 2,458 63,430
Amounts charged to expense 2,276 994 3,278 903 7,451
Accounts written off (13,958) (4,371)(11,228)(1,230) (30,787)
Balance at December 31, 2012 $ 16,979 $ 8,662 $ 12,322 $ 2,131 $ 40,094
Aging of Receivables
The aging of finance receivables at December 31, 2012 and 2011 was as follows:
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
December 31, 2012
< 31 days $ 1,497,797 $ 435,780 $ 392,108 $ 45,324 $ 2,371,009
> 30 days and < 61 days 37,348 9,994 12,666 1,368 61,376
> 60 days and < 91 days 24,059 5,198 4,577 285 34,119
> 90 days and < 121 days 6,665 3,327 2,319 179 12,490
> 120 days 15,842 7,211 3,290 137 26,480
Total $ 1,581,711 $ 461,510 $ 414,960 $ 47,293 $ 2,505,474
Past due amounts > 90 days
Still accruing interest $ 6,665 $ 3,327 $ — $ — $ 9,992
Not accruing interest 15,842 7,211 5,609 316 28,978
Total $ 22,507 $ 10,538 $ 5,609 $ 316 $ 38,970