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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net (loss) income $ (7,737) $ 20,821  
Adjustments to reconcile net (loss) income to net cash from operating activities:      
Depreciation and amortization 39,897 42,002  
Allowance for credit losses 4,308 2,024  
Stock-based compensation 3,245 4,495  
Amortization of debt fees 2,118 1,479  
(Gain) loss on debt redemption/refinancing (2,836) 4,993  
Amortization of debt fees 3,599 4,184  
Restructuring payments (4,641) (3,285)  
Pension contributions and retiree medical payments (19,938) (13,517)  
Gain on sale of assets 0 (14,372)  
Gain on sale of businesses 0 (2,522)  
Changes in operating assets and liabilities, net of acquisitions/divestitures:      
Accounts and other receivables 69,841 33,086  
Finance receivables 15,596 (172)  
Inventories (10,226) (7,936)  
Other current assets and prepayments (8,380) (25,426)  
Accounts payable and accrued liabilities (103,990) (38,647)  
Current and noncurrent income taxes (6,070) (3,836)  
Advance billings (18,672) 2,422  
Other, net 4,172 4,769  
Net cash from operating activities (39,714) 10,562  
Cash flows from investing activities:      
Capital expenditures (28,666) (32,555)  
Purchases of investment securities (5,180) (3,988)  
Proceeds from sales/maturities of investment securities 5,976 11,020  
Net investment in loan receivables (12,879) (11,230)  
Proceeds from asset sales 0 50,766  
Proceeds from sale of businesses 0 9,016  
Other investing activities (664) 5,000  
Net cash from investing activities (41,413) 28,029  
Cash flows from financing activities:      
Repayments of debt (31,018) (100,595)  
Premiums and fees paid to redeem/refinance debt 0 (4,759)  
Dividends paid to stockholders (8,725) (8,688)  
Customer deposits at Pitney Bowes Bank (33,526) (12,959)  
Common stock repurchases 0 (13,446)  
Other financing activities (6,173) (5,411)  
Net cash from financing activities (79,442) (145,858)  
Effect of exchange rate changes on cash and cash equivalents 2,349 (2,638)  
Change in cash and cash equivalents (158,220) (109,905)  
Cash and cash equivalents at beginning of period 669,981 732,480 $ 732,480
Cash and cash equivalents at end of period $ 511,761 $ 622,575 $ 669,981