Pitney Bowes Announces Third Quarter 2015 Financial Results
|
Pitney Bowes Inc. |
|
Reconciliation of Reported Consolidated Results to Adjusted Results |
| (Unaudited; in thousands) |
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
| |
|
|
2015 |
|
2014 |
|
2015 |
|
2014 |
| |
|
|
|
|
|
|
|
|
|
| GAAP income from continuing operations |
|
|
|
|
|
|
|
|
| after income taxes, as reported |
|
$ |
89,282 |
|
|
$ |
111,634 |
|
|
$ |
322,246 |
|
|
$ |
241,054 |
|
| Restructuring charges and asset impairments, net |
|
|
47 |
|
|
|
2,903 |
|
|
|
8,607 |
|
|
|
15,161 |
|
| Gain on sale of Imagitas |
|
|
30 |
|
|
|
- |
|
|
|
(88,399 |
) |
|
|
- |
|
| Acquisition and disposition transaction costs |
|
|
5,323 |
|
|
|
- |
|
|
|
11,428 |
|
|
|
- |
|
| Legal settlement |
|
|
(370 |
) |
|
|
- |
|
|
|
4,250 |
|
|
|
- |
|
| Acquisition related compensation expense |
|
|
- |
|
|
|
- |
|
|
|
7,246 |
|
|
|
- |
|
| Investment divestiture |
|
|
(7,756 |
) |
|
|
(9,774 |
) |
|
|
(7,756 |
) |
|
|
(9,774 |
) |
| Extinguishment of debt |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
37,833 |
|
| Income from continuing operations |
|
|
|
|
|
|
|
|
| after income taxes, as adjusted |
|
|
86,556 |
|
|
|
104,763 |
|
|
|
257,622 |
|
|
|
284,274 |
|
| Provision for income taxes, as adjusted |
|
|
43,657 |
|
|
|
20,788 |
|
|
|
140,070 |
|
|
|
104,865 |
|
| Preferred stock dividends of subsidiaries |
|
|
|
|
|
|
|
|
| attributable to noncontrolling interests |
|
|
4,594 |
|
|
|
4,593 |
|
|
|
13,781 |
|
|
|
13,781 |
|
| Income from continuing operations |
|
|
|
|
|
|
|
|
| before income taxes, as adjusted |
|
|
134,807 |
|
|
|
130,144 |
|
|
|
411,473 |
|
|
|
402,920 |
|
| Interest, net |
|
|
37,698 |
|
|
|
41,825 |
|
|
|
119,371 |
|
|
|
127,437 |
|
|
Adjusted EBIT |
|
|
172,505 |
|
|
|
171,969 |
|
|
|
530,844 |
|
|
|
530,357 |
|
| Depreciation and amortization |
|
|
42,333 |
|
|
|
49,643 |
|
|
|
127,486 |
|
|
|
142,506 |
|
|
Adjusted EBITDA |
|
$ |
214,838 |
|
|
$ |
221,612 |
|
|
$ |
658,330 |
|
|
$ |
672,863 |
|
|
