v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 58,138 $ 35,422
Adjustments to reconcile net income or loss to net cash from operating activities:    
Depreciation and amortization 25,641 28,324
Allowance for credit losses 3,288 1,978
Change in allowance for DIP Facility 0 (1,539)
Stock-based compensation 3,278 2,683
Amortization of debt fees 1,956 2,152
Loss on debt redemption/refinancing 0 24,646
Restructuring charges 5,112 1,400
Restructuring payments (15,201) (13,106)
Pension contributions and retiree medical payments (10,543) (12,671)
Loss on disposal of assets 2,382 5,106
(Gain) loss on revaluation of intercompany loans (4,882) 7,595
Other, net 11,840 4,779
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Accounts and other receivables 7,339 (131)
Finance receivables 43,550 34,586
Inventories 3,502 (4,807)
Other current assets and prepayments (8,324) (4,326)
Accounts payable and accrued liabilities (102,495) (141,282)
Current and noncurrent income taxes 15,684 8,382
Advance billings 3,890 4,130
Net cash from operating activities 44,155 (16,679)
Cash flows from investing activities:    
Capital expenditures (15,846) (16,887)
Purchases of investment securities (2,757) (3,910)
Proceeds from sales/maturities of investment securities 7,299 13,345
Net investment in loan receivables 1,783 (37,423)
DIP Facility reimbursement 0 1,539
Acquisition 0 (2,200)
Other investing activities, net 233 0
Net cash from investing activities (9,288) (45,536)
Cash flows from financing activities:    
Proceeds from the issuance of debt 147,750 775,000
Principal payments of debt (3,538) (787,187)
Premiums and fees paid to redeem/refinance debt 0 (20,598)
Dividends paid to stockholders (13,319) (10,980)
Customer deposits at Pitney Bowes Bank (8,327) (26,766)
Common stock repurchases (135,647) (15,000)
Other financing activities, net (3,336) 465
Net cash from financing activities (16,417) (85,066)
Effect of exchange rate changes on cash and cash equivalents (461) 1,342
Change in cash and cash equivalents 17,989 (145,939)
Cash and cash equivalents at beginning of period 284,887 469,726
Cash and cash equivalents at end of period $ 302,876 $ 323,787