Pitney Bowes 2014 Annual Report Download - page 66

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
56
December 31,
2014 2013
Sales-type lease receivables
Low $ 936,979 $ 1,081,853
Medium 230,799 244,379
High 45,202 51,851
Not Scored 73,644 78,337
Total $ 1,286,624 $ 1,456,420
Loan receivables
Low $ 259,436 $ 279,607
Medium 96,243 95,524
High 10,913 11,511
Not Scored 10,395 11,173
Total $ 376,987 $ 397,815
7. Fixed Assets
Fixed assets at December 31, 2014 and 2013 consisted of the following:
December 31,
2014 2013
Land $ 9,908 $ 6,797
Buildings 213,196 176,200
Machinery and equipment 923,374 918,075
1,146,478 1,101,072
Accumulated depreciation (861,387)(855,901)
Property, plant and equipment, net $ 285,091 $ 245,171
Rental property and equipment $ 462,244 $ 537,128
Accumulated depreciation (261,864)(310,982)
Rental property and equipment, net $ 200,380 $ 226,146
Depreciation expense was $165 million, $158 million and $177 million for the years ended December 31, 2014, 2013 and 2012,
respectively.