Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - PITNEY BOWES INC /DE/ | Financial_Report.xls |
| EX-32.2 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140630ex322.htm |
| EX-32.1 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140630ex321.htm |
| EX-31.2 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140630ex312.htm |
| EX-31.1 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140630ex311.htm |
| 10-Q - 10-Q - PITNEY BOWES INC /DE/ | pbi2014063010q.htm |
Exhibit 12
PITNEY BOWES INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||
Income from continuing operations before income taxes | $ | 138,477 | $ | 108,833 | $ | 192,979 | $ | 190,698 | |||||||
Add: | |||||||||||||||
Interest expense | 43,127 | 51,145 | 88,505 | 101,759 | |||||||||||
Portion of rent expense representative of the interest factor | 4,749 | 8,787 | 9,581 | 17,410 | |||||||||||
Income as adjusted | $ | 186,353 | $ | 168,765 | $ | 291,065 | $ | 309,867 | |||||||
Fixed charges: | |||||||||||||||
Interest expense | $ | 43,127 | $ | 51,145 | $ | 88,505 | $ | 101,759 | |||||||
Portion of rent expense representative of the interest factor | 4,749 | 8,787 | 9,581 | 17,410 | |||||||||||
Noncontrolling interests (preferred stock dividends of subsidiaries), excluding taxes | 7,482 | 6,960 | 14,963 | 13,920 | |||||||||||
Total fixed charges | $ | 55,358 | $ | 66,892 | $ | 113,049 | $ | 133,089 | |||||||
Ratio of earnings to fixed charges (1) | 3.37 | 2.52 | 2.57 | 2.33 | |||||||||||
(1) | The computation of the ratio of earnings to fixed charges has been computed by dividing income from continuing operations before income taxes as adjusted by fixed charges. One-third of rent expense is included in fixed charges as the representative portion of interest. |