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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net (loss) income $ (149,272) $ 25,157
Adjustments to reconcile net (loss) income to net cash from operating activities:    
Depreciation and amortization 79,770 85,472
Allowance for credit losses 7,164 7,092
Stock-based compensation 6,075 9,866
Amortization of debt fees 4,413 2,985
(Gain) loss on debt redemption/refinancing (3,064) 4,993
Restructuring charges 26,042 8,408
Restructuring payments (12,883) (8,255)
Pension contributions and retiree medical payments (25,196) (18,559)
Gain on sale of assets 0 (14,372)
Gain on sale of businesses 0 (2,522)
Goodwill impairment 118,599 0
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Accounts and other receivables 67,506 50,340
Finance receivables 3,837 1,260
Inventories (9,065) (4,078)
Other current assets and prepayments (1,561) (33,833)
Accounts payable and accrued liabilities (108,836) (72,101)
Current and noncurrent income taxes (27,903) (14,069)
Advance billings (22,948) (285)
Other, net 7,564 18,195
Net cash from operating activities (39,758) 45,694
Cash flows from investing activities:    
Capital expenditures (54,646) (64,174)
Purchases of investment securities (9,973) (3,988)
Proceeds from sales/maturities of investment securities 12,088 18,601
Net investment in loan receivables (14,835) (22,537)
Proceeds from asset sales 0 50,766
Proceeds from sale of businesses 0 3,284
Settlement of derivative contracts 6,185 (19,470)
Other investing activities 485 10,000
Net cash from investing activities (60,696) (27,518)
Cash flows from financing activities:    
Repayments of debt (53,803) (106,779)
Premiums and fees paid to redeem/refinance debt (4,464) (4,759)
Dividends paid to stockholders (17,525) (17,313)
Customer deposits at Pitney Bowes Bank 52,348 (15,912)
Common stock repurchases 0 (13,446)
Other financing activities (9,109) (8,295)
Net cash from financing activities (32,553) (166,504)
Effect of exchange rate changes on cash and cash equivalents 4,730 (13,455)
Change in cash and cash equivalents (128,277) (161,783)
Cash and cash equivalents at beginning of period 669,981 732,480
Cash and cash equivalents at end of period $ 541,704 $ 570,697