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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 20,821 $ (31,541)
Loss from discontinued operations, net of tax 0 3,886
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Depreciation and amortization 42,002 39,594
Allowance for credit losses 2,024 3,992
Stock-based compensation 4,495 5,221
Amortization of debt fees 1,479 2,645
Loss on debt redemption/refinancing 4,993 51,394
Restructuring charges 4,184 2,889
Restructuring payments (3,285) (3,955)
Pension contributions and retiree medical payments (13,517) (13,230)
Gain on sale of assets (14,372) 0
Gain on sale of business (2,522) 0
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Accounts and other receivables 33,086 57,642
Finance receivables (172) 27,714
Inventories (7,936) 1,900
Other current assets and prepayments (25,426) (7,153)
Accounts payable and accrued liabilities (38,647) (54,022)
Current and noncurrent income taxes (3,836) (17,291)
Advance billings 2,422 4,267
Other, net 4,769 (8,029)
Net cash from operating activities 10,562 65,923
Cash flows from investing activities:    
Capital expenditures (32,555) (43,328)
Purchases of investment securities (3,988) (64,473)
Proceeds from sales/maturities of investment securities 11,020 28,008
Net investment in loan receivables (11,230) (7,316)
Proceeds from asset sales 50,766 0
Proceeds from sale of business 9,016 0
Other investing activities 5,000 0
Net cash from investing activities 28,029 (87,109)
Cash flows from financing activities:    
Proceeds from the issuance of debt, net of discount 0 1,195,500
Principal payments of debt (100,595) (1,327,315)
Premiums and fees paid to redeem/refinance debt (4,759) (44,418)
Dividends paid to stockholders (8,688) (8,625)
Customer deposits at Pitney Bowes Bank (12,959) (27,794)
Common stock repurchases (13,446) 0
Other financing activities (5,411) (5,648)
Net cash from financing activities (145,858) (218,300)
Effect of exchange rate changes on cash and cash equivalents (2,638) (1,238)
Change in cash and cash equivalents (109,905) (240,724)
Cash and cash equivalents at beginning of period 732,480 921,450
Cash and cash equivalents at end of period $ 622,575 $ 680,726