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PBI » Topics » Legal settlements, net

This excerpt taken from the PBI 10-K filed Mar 1, 2007.

Legal settlements, net

In 2004, we recorded a pre-tax charge of approximately $20 million associated with the settlement of lawsuits related to a program we offered to some of our leasing customers to replace equipment if it was lost, stolen or destroyed. The $20 million charge related to the following settlement costs: award certificates to be provided to members of the class for purchase of office products through our diverse supply line; and the cost of legal fees and related expenses. In 2006, we recorded a pre-tax gain of $5 million related to a revised liability estimate associated with this settlement and a pre-tax charge of $2 million for other legal matters.

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