Pitney Bowes 2015 Annual Report Download - page 75

Download and view the complete annual report

Please find page 75 of the 2015 Pitney Bowes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 118

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118

PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
59
Allowance for Credit Losses
Activity in the allowance for credit losses for the years ended December 31, 2015, 2014 and 2013 was as follows:
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
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
Amounts charged to expense 4,346 866 10,237 1,626 17,075
Accounts written off (8,230) (5,440)(10,490)(1,754) (25,914)
Balance at December 31, 2014 10,281 5,129 10,912 1,788 28,110
Amounts charged to expense 1,189 890 8,286 1,023 11,388
Accounts written off (4,735) (2,405)(9,302)(1,293) (17,735)
Balance at December 31, 2015 $ 6,735 $ 3,614 $ 9,896 $ 1,518 $ 21,763
Aging of Receivables
The aging of finance receivables at December 31, 2015 and 2014 was as follows:
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
December 31, 2015
Less than 30 days $ 1,147,455 $ 291,777 $ 348,730 $ 39,259 $ 1,827,221
31 - 60 days 27,037 7,496 8,010 1,435 43,978
61 - 90 days 18,740 3,744 3,312 423 26,219
> 90 days 19,158 5,082 3,620 487 28,347
Total $ 1,212,390 $ 308,099 $ 363,672 $ 41,604 $ 1,925,765
Past due amounts > 90 days
Still accruing interest $ 5,041 $ 1,617 $ — $ — $ 6,658
Not accruing interest 14,117 3,465 3,620 487 21,689
Total $ 19,158 $ 5,082 $ 3,620 $ 487 $ 28,347
Sales-type Lease Receivables Loan Receivables
North
America International
North
America International Total
December 31, 2014
Less than 30 days $ 1,217,623 $ 347,236 $ 359,672 $ 45,678 $ 1,970,209
31 - 60 days 23,242 6,207 9,245 1,201 39,895
61 - 90 days 24,198 4,494 3,498 413 32,603
> 90 days 21,561 8,732 4,572 373 35,238
Total $ 1,286,624 $ 366,669 $ 376,987 $ 47,665 $ 2,077,945
Past due amounts > 90 days
Still accruing interest $ 5,931 $ 2,517 $ — $ — $ 8,448
Not accruing interest 15,630 6,215 4,572 373 26,790
Total $ 21,561 $ 8,732 $ 4,572 $ 373 $ 35,238