Pitney Bowes 2012 Annual Report Download - page 75

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
57
10. Stockholders' Equity
Preferred Stock
We have two classes of Preferred Stock issued and outstanding: the 4% Preferred Stock and the $2.12 Preference Stock. The 4% Preferred
Stock is entitled to cumulative dividends of $2 per year and can be converted into 24.24 shares of common stock, subject to adjustment
in certain events. The preferred stock is redeemable at our option at a price of $50 per share, plus dividends accrued through the redemption
date. We are authorized to issue 600,000 shares of 4% Preferred Stock. At December 31, 2012 and 2011, there were 85 shares outstanding.
There are no unpaid dividends in arrears.
The $2.12 Preference Stock is entitled to cumulative dividends of $2.12 per year and can be converted into 16.53 shares of common
stock, subject to adjustment in certain events. The preference stock is redeemable at our option at a price of $28 per share. We are
authorized to issue 5,000,000 shares of $2.12 Preference Stock. At December 31, 2012 and 2011, there were 23,928 shares and 24,336
shares outstanding, respectively. There are no unpaid dividends in arrears.
Common Stock
We have 480,000,000 shares of common stock authorized and 323,337,912 shares were issued at December 31, 2012 and 2011. At
December 31, 2012, 38,428,301 shares were reserved for issuance under our stock plans and dividend reinvestment program, 2,060 shares
were reserved for issuance upon conversion of the 4% Preferred Stock and 395,530 shares were reserved for issuance upon conversion
of the $2.12 Preference Stock. The following table summarizes the changes in Common Stock and Treasury Stock:
Treasury Outstanding
Balance at December 31, 2009 116,140,084 207,197,828
Repurchases of common stock 4,687,304 (4,687,304)
Issuance of common stock (876,794) 876,794
Conversions to common stock (43,684) 43,684
Balance at December 31, 2010 119,906,910 203,431,002
Repurchases of common stock 4,692,200 (4,692,200)
Issuance of common stock (963,448) 963,448
Conversions to common stock (48,820) 48,820
Balance at December 31, 2011 123,586,842 199,751,070
Issuance of common stock (1,118,089) 1,118,089
Conversions to common stock (14,888) 14,888
Balance at December 31, 2012 122,453,865 200,884,047
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss consisted of the following:
2012 2011 2010
Foreign currency translation adjustments $ 81,250 $ 83,952 $ 137,521
Net unrealized loss on derivatives (7,777)(8,438) (10,445)
Net unrealized gain on investment securities 4,513 4,387 1,439
Net unamortized loss on pension and postretirement plans (759,199)(741,546) (602,321)
Accumulated other comprehensive loss $(681,213)$(661,645) $ (473,806)