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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 25,157 $ (11,685)
Loss from discontinued operations, net of tax 0 4,906
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Depreciation and amortization 85,472 79,416
Allowance for credit losses 7,092 4,988
Stock-based compensation 9,866 12,278
Amortization of debt fees 2,985 4,103
Loss on debt redemption/refinancing 4,993 52,383
Restructuring charges 8,408 7,733
Restructuring payments (8,255) (8,825)
Pension contributions and retiree medical payments (18,559) (18,784)
Gain on sale of assets (14,372) (1,434)
Gain on sale of business (2,522) (10,201)
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Accounts and other receivables 50,340 72,791
Finance receivables 1,260 30,620
Inventories (4,078) (1,884)
Other current assets and prepayments (33,833) 1,567
Accounts payable and accrued liabilities (72,101) (56,038)
Current and noncurrent income taxes (14,069) (11,807)
Advance billings (285) 5,271
Other, net 18,195 (10,669)
Net cash from operating activities 45,694 144,729
Cash flows from investing activities:    
Capital expenditures (64,174) (83,703)
Purchases of investment securities (3,988) (68,143)
Proceeds from sales/maturities of investment securities 18,601 58,870
Net investment in loan receivables (22,537) (2,964)
Proceeds from asset sales 50,766 1,840
Proceeds from sale of business 3,284 27,573
Other investing activities (9,470) 0
Net cash from investing activities - continuing operations (27,518) (66,527)
Net cash from investing activities - discontinued operations 0 (1,507)
Net cash from investing activities (27,518) (68,034)
Cash flows from financing activities:    
Proceeds from the issuance of debt, net of discount 0 1,195,500
Principal payments of debt (106,779) (1,339,568)
Premiums and fees paid to redeem/refinance debt (4,759) (46,937)
Dividends paid to stockholders (17,313) (17,325)
Customer deposits at Pitney Bowes Bank (15,912) 15,633
Common stock repurchases (13,446) 0
Other financing activities (8,295) (6,327)
Net cash from financing activities (166,504) (199,024)
Effect of exchange rate changes on cash and cash equivalents (13,455) 349
Change in cash and cash equivalents (161,783) (121,980)
Cash and cash equivalents at beginning of period 732,480 921,450
Cash and cash equivalents at end of period $ 570,697 $ 799,470