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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ 30,644 $ (2,618)
Loss from discontinued operations, net of tax 0 4,334
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Depreciation and amortization 124,752 121,225
Allowance for credit losses 6,355 6,382
Stock-based compensation 15,237 15,448
Amortization of debt fees 6,737 5,694
Loss on debt redemption/refinancing 4,993 55,576
Restructuring charges 12,672 11,434
Restructuring payments (11,761) (14,847)
Pension contributions and retiree medical payments (23,411) (22,941)
Gain on sale of assets (14,372) (1,434)
Gain on sale of businesses (10,920) (10,201)
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Accounts and other receivables 24,895 62,537
Finance receivables (1,125) 31,893
Inventories (12,233) (4,304)
Other current assets and prepayments (22,234) (8,900)
Accounts payable and accrued liabilities (120,993) (7,332)
Current and noncurrent income taxes (14,633) (14,294)
Advance billings (774) (9,402)
Other, net 15,400 (2,076)
Net cash from operating activities 9,229 216,174
Cash flows from investing activities:    
Capital expenditures (97,533) (140,907)
Purchases of investment securities (5,722) (70,896)
Proceeds from sales/maturities of investment securities 24,835 78,941
Net investment in loan receivables (31,101) (6,627)
Proceeds from asset sales 50,766 1,840
Proceeds from sale of businesses 109,326 27,573
Acquisitions (1,154) 0
Settlement of derivative contracts (48,987) 0
Other investing activities 15,961 0
Net cash from investing activities - continuing operations 16,391 (110,076)
Net cash from investing activities - discontinued operations 0 (1,610)
Net cash from investing activities 16,391 (111,686)
Cash flows from financing activities:    
Proceeds from the issuance of debt, net of discount 0 1,195,500
Principal payments of debt (112,965) (1,429,603)
Premiums and fees paid to redeem/refinance debt (4,759) (50,130)
Dividends paid to stockholders (26,013) (26,050)
Customer deposits at Pitney Bowes Bank 31,359 25,512
Common stock repurchases (13,446) 0
Other financing activities (10,356) (7,078)
Net cash from financing activities (136,180) (291,849)
Effect of exchange rate changes on cash and cash equivalents (25,273) (4,940)
Change in cash and cash equivalents (135,833) (192,301)
Cash and cash equivalents at beginning of period 732,480 921,450
Cash and cash equivalents at end of period $ 596,647 $ 729,149