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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
51
Allowance for Credit Losses
Activity in the allowance for credit losses for finance receivables for the years ended December 31, 2013, 2012 and 2011 was as
follows:
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
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
Amounts charged to expense 4,584 4,553 9,663 1,254 20,054
Accounts written off (7,398) (3,512)(10,820)(1,469) (23,199)
Balance at December 31, 2013 $ 14,165 $ 9,703 $ 11,165 $ 1,916 $ 36,949
Aging of Receivables
The aging of finance receivables at December 31, 2013 and 2012 was as follows:
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
December 31, 2013
< 31 days $ 1,383,253 $ 425,923 $ 379,502 $ 42,573 $ 2,231,251
> 30 days and < 61 days 32,102 11,760 10,464 4,391 58,717
> 60 days and < 91 days 20,830 5,724 3,330 1,363 31,247
> 90 days and < 121 days 6,413 3,979 1,809 311 12,512
> 120 days 13,822 9,373 2,710 416 26,321
Total $ 1,456,420 $ 456,759 $ 397,815 $ 49,054 $ 2,360,048
Past due amounts > 90 days
Still accruing interest $ 6,413 $ 3,979 $ — $ — $ 10,392
Not accruing interest 13,822 9,373 4,519 727 28,441
Total $ 20,235 $ 13,352 $ 4,519 $ 727 $ 38,833