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Pitney Bowes Inc.
Reconciliation of Reported Consolidated Results to Adjusted Results (Unaudited) |
||||||
| (Dollars in thousands, except per share data) | ||||||
| Three Months Ended March 31, | ||||||
| 2013 | 2012 | |||||
|
GAAP income from continuing operations
|
$ | 69,568 | $ | 140,942 | ||
|
Extinguishment of debt |
15,325 | - | ||||
| Sale of leveraged lease assets | - | (12,886 | ) | |||
|
Income from continuing operations
|
84,893 | 128,056 | ||||
| Provision for income taxes, as adjusted | 37,345 | 32,194 | ||||
|
Preferred stock dividends of subsidiaries
|
4,594 | 4,594 | ||||
| Income from continuing operations, as adjusted | 126,832 | 164,844 | ||||
| Interest expense, net | 48,866 | 48,773 | ||||
| Adjusted EBIT | 175,698 | 213,617 | ||||
| Depreciation and amortization | 57,227 | 64,370 | ||||
| Adjusted EBITDA | $ | 232,925 | $ | 277,987 | ||
Pitney Bowes Announces First Quarter 2013 Results
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