Pitney Bowes 2015 Annual Report Download - page 56

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PITNEY BOWES INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
40
Years Ended December 31,
2015 2014 2013
Revenue:
Equipment sales $ 695,159 $ 770,371 $ 867,593
Supplies 288,103 300,040 285,730
Software 386,506 429,743 398,664
Rentals 441,663 484,629 512,493
Financing 410,035 432,859 448,906
Support services 554,764 625,135 646,657
Business services 801,830 778,727 631,292
Total revenue 3,578,060 3,821,504 3,791,335
Costs and expenses:
Cost of equipment sales 331,069 365,724 422,580
Cost of supplies 88,802 93,675 89,365
Cost of software 113,580 123,760 110,653
Cost of rentals 84,188 97,338 100,335
Financing interest expense 71,791 78,562 77,719
Cost of support services 322,960 377,003 400,038
Cost of business services 546,201 544,729 449,932
Selling, general and administrative 1,279,961 1,378,400 1,420,096
Research and development 110,156 109,931 110,412
Restructuring charges and asset impairments, net 25,782 84,560 84,344
Interest expense, net 87,583 90,888 109,268
Other (income) expense, net (94,838) 45,738 32,639
Total costs and expenses 2,967,235 3,390,308 3,407,381
Income from continuing operations before income taxes 610,825 431,196 383,954
Provision for income taxes 189,778 112,815 77,967
Income from continuing operations 421,047 318,381 305,987
Income (loss) from discontinued operations, net of tax 5,271 33,749 (144,777)
Net income 426,318 352,130 161,210
Less: Preferred stock dividends of subsidiaries attributable to noncontrolling interests 18,375 18,375 18,375
Net income - Pitney Bowes Inc. $ 407,943 $ 333,755 $ 142,835
Amounts attributable to common stockholders:
Net income from continuing operations $ 402,672 $ 300,006 $ 287,612
Income (loss) from discontinued operations, net of tax 5,271 33,749 (144,777)
Net income - Pitney Bowes Inc. $ 407,943 $ 333,755 $ 142,835
Basic earnings per share attributable to common stockholders (1):
Continuing operations $ 2.01 $ 1.49 $ 1.43
Discontinued operations 0.03 0.17 (0.72)
Net income - Pitney Bowes Inc. $ 2.04 $ 1.65 $ 0.71
Diluted earnings per share attributable to common stockholders (1):
Continuing operations $ 2.00 $ 1.47 $ 1.42
Discontinued operations 0.03 0.17 (0.71)
Net income - Pitney Bowes Inc. $ 2.03 $ 1.64 $ 0.70
Dividends declared per share of common stock $ 0.75 $ 0.75 $ 0.9375
(1) The sum of the earnings per share amounts may not equal the totals due to rounding.
See Notes to Consolidated Financial Statements