Pitney Bowes Announces Third Quarter 2014 Results
Note: The sum of the earnings per share amounts may not equal the totals
above due to rounding.
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Pitney Bowes Inc.
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Reconciliation of Reported Consolidated Results to Adjusted
Results
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(Unaudited)
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(Dollars in thousands, except per share data)
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Three Months Ended September 30,
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Nine Months Ended September 30,
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2014
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2013
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2014
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2013
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GAAP income from continuing operations
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after income taxes, as reported
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$
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111,634
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$
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72,974
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$
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241,054
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$
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212,471
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Restructuring charges & asset impairments
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2,903
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22,536
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15,161
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35,662
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Extinguishment of debt
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-
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-
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37,833
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15,324
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Investment divestiture
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(9,774
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-
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(9,774
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-
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Income from continuing operations
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after income taxes, as adjusted
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104,763
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95,510
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284,274
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263,457
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Provision for income taxes, as adjusted
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20,788
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22,405
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104,865
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80,120
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Preferred stock dividends of subsidiaries
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attributable to noncontrolling interests
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4,593
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4,594
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13,781
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13,782
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Income from continuing operations before income taxes, as adjusted
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130,144
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122,509
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402,920
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357,359
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Interest, net
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41,825
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45,519
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127,437
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142,525
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Adjusted EBIT
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171,969
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168,028
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530,357
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499,884
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Depreciation and amortization
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49,643
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50,679
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142,506
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153,878
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Adjusted EBITDA
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$
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221,612
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$
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218,707
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$
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672,863
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$
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653,762
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