This excerpt taken from the PBI 8-K filed Jan 29, 2008.
ITEM 2.06 MATERIAL IMPAIRMENTS
The following information is furnished pursuant to Item 2.06 Material Impairments.
On November 20, 2007, the Company filed a Form 8-K related to its November 15, 2007 announcement of a global program to transition its product line. In connection with this transition, the Company indicated that it would record non-cash impairment charges, primarily associated with the write-off of inventory and lease residuals of older equipment that the Company will stop selling as it transitions to the new generation of fully digital, networked, and remotely downloadable equipment.
Results of operations for the fourth quarter of 2007 will include a non-cash pre-tax impairment charge of approximately $170 million.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.