Pitney Bowes Inc. |
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Reconciliation of Reported Consolidated Results to Adjusted Results |
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(Unaudited) | ||||||||||||||||
(Dollars in thousands, except per share data) |
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Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
GAAP income from continuing operations | ||||||||||||||||
after income taxes, as reported | $ | 87,548 | $ | 80,021 | $ | 129,420 | $ | 139,497 | ||||||||
Restructuring charges | 5,577 | 13,126 | 12,258 | 13,126 | ||||||||||||
Extinguishment of debt | - | - | 37,833 | 15,325 | ||||||||||||
Income from continuing operations | ||||||||||||||||
after income taxes, as adjusted | $ | 93,125 | $ | 93,147 | $ | 179,511 | $ | 167,948 | ||||||||
GAAP diluted earnings per share from | ||||||||||||||||
continuing operations, as reported | $ | 0.43 | $ | 0.39 | $ | 0.63 | $ | 0.69 | ||||||||
Restructuring charges | 0.03 | 0.06 | 0.06 | 0.06 | ||||||||||||
Extinguishment of debt | - | - | 0.19 | 0.08 | ||||||||||||
Diluted earnings per share from continuing | ||||||||||||||||
operations, as adjusted | $ | 0.46 | $ | 0.46 | $ | 0.88 | $ | 0.83 | ||||||||
GAAP net cash provided by operating activities, | ||||||||||||||||
as reported | $ | 174,831 | $ | 146,875 | $ | 280,447 | $ | 279,035 | ||||||||
Capital expenditures | (42,207 | ) | (34,602 | ) | (72,350 | ) | (73,441 | ) | ||||||||
Restructuring payments | 14,593 | 10,980 | 33,530 | 27,255 | ||||||||||||
Reserve account deposits | 11,803 | 1,138 | (3,356 | ) | (26,189 | ) | ||||||||||
Extinguishment of debt | 3,300 | - | 61,657 | 25,121 | ||||||||||||
Free cash flow, as adjusted | $ | 162,320 | $ | 124,391 | $ | 299,928 | $ | 231,781 | ||||||||
Note: The sum of the earnings per share amounts may not equal the totals above due to rounding. |