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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ (2,618) $ (200,423)
Loss (income) from discontinued operations, net of tax 4,334 (7,648)
Restructuring payments (14,847) (15,869)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation and amortization 121,225 120,403
Allowance for credit losses 6,382 35,400
Stock-based compensation 15,448 15,236
Restructuring charges 11,434 12,505
Amortization of debt fees 5,694 7,962
Goodwill impairment 0 198,169
Loss on debt refinancing 55,576 36,987
Gain on sale of assets (1,434) (21,969)
Gain on sale of business (10,201) 0
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Accounts and other receivables 62,537 (8,064)
Finance receivables 31,893 86,135
Inventories (4,304) 1,051
Other current assets and prepayments (8,900) (18,400)
Accounts payable 20,953 (14,486)
Accrued liabilities (28,285) 13,439
Current and noncurrent income taxes (14,294) 21,682
Advance billings (9,402) 687
Pension and retiree medical liabilities (58,287) (60,442)
Other, net 33,270 27,234
Net cash from operating activities - continuing operations 216,174 229,589
Net cash from operating activities - discontinued operations 0 (38,423)
Net cash from operating activities 216,174 191,166
Cash flows from investing activities:    
Capital expenditures (140,907) (80,787)
Purchases of investment securities (70,896) (591,304)
Proceeds from sales/maturities of investment securities 78,941 501,459
Net investment in loan receivables (6,627) (3,806)
Proceeds from asset sales 1,840 58,248
Acquisitions, net of cash acquired 0 (6,608)
Proceeds from sale of business, net of cash sold 27,573 0
Other investing activities 0 9,559
Net cash from investing activities - continuing operations (110,076) (113,239)
Net cash from investing activities - discontinued operations (1,610) (2,502)
Net cash from investing activities (111,686) (115,741)
Cash flows from financing activities:    
Proceeds from the issuance of debt, net of discount 1,195,500 916,544
Principal payments of debt (1,429,603) (1,072,260)
Premiums and fees paid to refinance debt (50,130) (32,645)
Dividends paid to stockholders (26,050) (25,693)
Customer deposits at Pitney Bowes Bank 25,512 19,464
Other financing activities (7,078) (3,318)
Net cash from financing activities (291,849) (197,908)
Effect of exchange rate changes on cash and cash equivalents (4,940) (2,782)
Change in cash and cash equivalents (192,301) (125,265)
Cash and cash equivalents at beginning of period 921,450 924,442
Cash and cash equivalents at end of period $ 729,149 $ 799,177