Pitney Bowes 2012 Annual Report Download - page 71

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
53
Annual maturities of outstanding debt at December 31, 2012 are as follows:
2013 $ 375,000
2014 450,000
2015 450,000
2016 680,000
2017 500,000
Thereafter 1,510,000
Total $ 3,965,000
8. Income Taxes
Income from continuing operations before taxes consisted of the following:
Years Ended December 31,
2012 2011 2010
U.S. $ 458,456 $ 463,814 $ 407,060
International 146,157 22,727 149,129
Total $ 604,613 $ 486,541 $ 556,189
The provision for income taxes from continuing operations consisted of the following:
Years Ended December 31,
2012 2011 2010
U.S. Federal:
Current $ 174,705 $(68,505) $ 175,827
Deferred 16,136 135,305 (24,632)
190,841 66,800 151,195
U.S. State and Local:
Current 3,187 33,922 27,169
Deferred (26,273) (15,546) (17,518)
(23,086) 18,376 9,651
International:
Current 65,412 67,835 44,989
Deferred (82,862) (85,401) 7,763
(17,450) (17,566) 52,752
Total current 243,304 33,252 247,985
Total deferred (92,999) 34,358 (34,387)
Total provision for income taxes $ 150,305 $ 67,610 $ 213,598
Effective tax rate 24.9% 13.9% 38.4%
The effective tax rate for 2012 includes tax benefits of $32 million from the sale of non-U.S. leveraged lease assets, $47 million of tax
benefits from the resolution of U.S. tax examinations and tax accruals of $43 million for the repatriation of additional non-U.S. earnings
that arose as a result of one-time events including the sale of leveraged lease assets and Canadian tax law changes.