Send us Feedback

Pitney Bowes (PBI)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

PBI » Topics » Minority Interest

This excerpt taken from the PBI 10-K filed Feb 29, 2008.

Minority interest

 

 

 

 

 

 

 

 

 

 

 

(Dollars in millions)

 

 

 

 

 

 

 

 

 

 

 

 

2006

 

2005

 

% change

 

 

 

 

 

 

 

 

$

14

 

$

10

 

 

40

%

Minority interest includes dividends paid to preferred stockholders in a subsidiary. Minority interest increased compared with the prior year primarily due to an increase in the weighted average dividend rate which is repriced at each auction date.

17

Discontinued operations

 

 

 

 

 

 

 

 

(Dollars in millions)

 

 

 

 

 

 

 

 

 

2006

 

2005

 

 

 

 

 

Revenue

 

$

81

 

$

125

 

Pretax income

 

$

29

 

$

38

 

 

 

 

 

 

 

 

 

Net income

 

$

31

 

$

35

 

Gain on sale of Imagistics, net of $7 tax expense

 

 

11

 

 

—

 

FSC tax law change

 

 

(16

)

 

—

 

Additional tax on IRS settlement

 

 

(41

)

 

—

 

Loss on sale of Capital Services, net of $285 tax benefit

 

 

(445

)

 

—

 

 

 

 

 

Total discontinued operations, net of tax

 

$

(460

)

$

35

 

 

 

 

 

In 2006, we completed the sale of our Capital Services external financing business and our Imagistics lease portfolio. We have reported the results of these businesses as discontinued operations for all periods presented. See Note 2 to the Consolidated Financial Statements for further discussion and details of discontinued operations.

This excerpt taken from the PBI 10-Q filed Nov 8, 2007.

Minority Interest

The following table details minority interest for the nine months ended September 30, 2007 and 2006:

(Dollars in thousands)    Nine Months Ended September 30, 
    2007    2006   % change
 
Minority interest    $ 14,404   $ 9,814   47 % 

Minority interest includes dividends paid to preferred stockholders in subsidiary companies. Minority interest increased by $4.6 million or 47% compared to the prior year due to an increase in outstanding preferred shares and the weighted average dividend rate.

27

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Discontinued Operations

The following table details the components of discontinued operations for the nine months ended September 30, 2007 and 2006:

(Dollars in thousands)    Nine Months Ended September 30,
    2007   2006
Revenue    $ -     $ 81,199  
Pre-tax income    $ -     $ 25,275  
 
Net (loss) income    $ (4,695 )    $ 35,030  
Gain on sale of Imagistics, net of $7,075 tax      -       11,065  
FSC tax law change      -       (16,209 ) 
Additional tax on IRS settlement      -       (41,000 ) 
Loss on sale of Capital Services, net of $284,605 tax benefit      -       (445,150 ) 
Total discontinued operations, net of tax    $ (4,695 )    $ (456,264 ) 

See Note 4 to the Condensed Consolidated Financial Statements for further discussion and details of the discontinued operations.

This excerpt taken from the PBI 10-Q filed Aug 6, 2007.

Minority Interest

The following table details minority interest for the six months ended June 30, 2007 and 2006:

(Dollars in thousands)  
Six Months Ended June 30,
     
2007
           2006        
% change
 
Minority interest   $                9,542      $
               6,161
    
                    54.9%

Minority interest includes dividends paid to preferred stockholders in subsidiary companies. Minority interest increased by $3.4 million or 54.9% compared to the prior year due to an increase in outstanding preferred shares and the weighted average dividend rate.

Discontinued Operations

The following table details the components of discontinued operations for the six months ended June 30, 2007 and 2006:

(Dollars in thousands)
   
Six Months Ended June 30,
 
     
2007
         
2006
 
 Revenue   $ -     $ 76,981  
 Pretax income   $ -     $ 39,950  
 
 Net (loss) income   $ (3,130 )   $ 27,116  
 Gain on sale of Imagistics, net of $7,443 tax     -       11,641  
 FSC tax law change     -       (16,209 )
 Additional tax on IRS settlement     -       (41,000 )
 Loss on sale of Capital Services, net of $282,722 tax benefit     -       (442,205 )
 Total discontinued operations, net of tax   $                (3,130 )   $                (460,657 )

See Note 4 in the Condensed Consolidated Financial Statements for further discussion and details of the discontinued operations.

This excerpt taken from the PBI 10-Q filed May 4, 2007.

Minority Interest

The following table details minority interest for the three months ended March 31, 2007 and 2006:

(Dollars in thousands)     Three Months Ended March 31,
      2007   2006
 
Minority interest     $4,746   $2,917

Minority interest includes dividends paid to preferred stockholders in subsidiary companies. Minority interest increased by $1.8 million or 62.7% in the first quarter of 2007 compared with the prior year due to higher average rates and a higher average balance during the quarter.

Discontinued Operations

The following table details the components of discontinued operations for the three months ended March 31, 2007 and 2006:

(Dollars in thousands)   Three Months Ended March 31,
    2007   2006
 Revenue   $ -     $ 42,458
 Pretax income   $ -     $ 22,010
 
 Net income   $ (1,788 )   $ 16,669
 Total discontinued operations, net of tax   $ (1,788 )   $ 16,669

See Note 4 in the Condensed Consolidated Financial Statements for further discussion and details of the discontinued operations.

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

Minority interest

(Dollars in millions)  
   

2005

 

2004

  % change  
$ 10 $

6

 

  66.7

% 

  

Minority interest includes dividends paid to preferred stockholders in a subsidiary. Minority interest increased compared with the prior year due to an increase in the weighted average dividend rate which is set at auction.

Discontinued operations

(Dollars in millions)  
   

2005

 

2004

     
Revenue   $ 125 $ 125        
Pretax income $ 38 $ 67
 
Net income $ 35 $ 57
Total discontinued operations, net of tax $ 35 $ 57

See Note 2 to the Consolidated Financial Statements for further discussion and details of the discontinued operations.

This excerpt taken from the PBI 10-Q filed Nov 9, 2006.

Minority Interest

          The following table details minority interest for the nine months ended September 30, 2006 and 2005:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

 

 

 

(Dollars in thousands)

 

2006

 

2005

 

% change

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Minority interest

 

$

9,814

 

$

6,914

 

 

 

41.9

%

 

          Minority interest includes dividends paid to preferred stockholders in a subsidiary. Minority interest increased by $2.9 million or 41.9% in the first nine months of 2006 compared with the prior year due to an increase in the weighted average dividend rate which is set at auction.

Discontinued Operations

          The following table details the components of discontinued operations for the nine months ended September 30, 2006 and 2005:

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

 

 

 

(Dollars in thousands)

 

2006

 

2005

 

 

 

 

 

Revenue

 

$

81,199

 

$

94,831

 

Pretax income

 

$

25,275

 

$

46,464

 

 

 

 

 

 

 

 

 

Net income

 

$

35,030

 

$

30,420

 

Gain on sale of Imagistics, net of $7,075 tax expense

 

 

11,065

 

 

—

 

FSC tax law change

 

 

(16,209

)

 

—

 

Additional tax on IRS settlement

 

 

(41,000

)

 

—

 

Loss on sale of Capital Services, net of $284,605 tax benefit

 

 

(445,150

)

 

—

 

 

 

 

 

Total discontinued operations, net of tax

 

$

(456,264

)

$

30,420

 

 

 

 

 

          Net income from discontinued operations increased by $4.6 million in the first nine months of 2006 compared with the prior year primarily due to the run-off of the portfolio and the realization of certain Capital Services tax benefits. See Note 4 in the condensed consolidated financial statements for further discussion and details of the discontinued operations.

29

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This excerpt taken from the PBI 10-Q filed Aug 8, 2006.
Minority Interest

     The following table details minority interest for the six months ended June 30, 2006 and 2005:

(Dollars in thousands)   
Six Months Ended June 30, 
   
2006 
2005 
% change
          
          
     
Minority interest    $  6,161   $ 4,504    36.8 % 

     Minority interest includes dividends paid to preferred stockholders in a subsidiary. Minority interest increased by $1.7 million or 36.8% in the first six months of 2006 compared with the prior year due to an increase in the weighted average dividend rate which is set at auction.

Discontinued Operations

     The following table details the components of discontinued operations for the six months ended June 30, 2006 and 2005:

(Dollars in thousands)   
Six Months Ended June 30, 
   
2006
2005
       
Revenue   
$ 
76,981    
$ 
67,426 
Pretax income   
$ 
39,950    
$ 
36,069 
 
Net income   
$ 
27,116    
$ 
23,631 
Gain on sale of Imagistics, net of $7,443 tax   
11,641    
- 
FSC tax law change   
(16,209 )   
- 
Additional tax on IRS settlement   
(41,000 )   
- 
Loss on sale of Capital Services, net of $282,722 tax benefit   
(442,205 )   
- 
 
Total discontinued operations, net of tax   
$ 
(460,657 )   
$ 
23,631 
 

     Net income from discontinued operations increased by $3.5 million or 15% in the first six months of 2006 compared with the prior year primarily due to the sale of assets in the first six months of 2006. See Note 4 in the condensed consolidated financial statements for further discussion and details of the discontinued operations.

29

EXCERPTS ON THIS PAGE:

10-K
Feb 29, 2008
10-Q
Nov 8, 2007
10-Q
Aug 6, 2007
10-Q
May 4, 2007
10-K
Mar 1, 2007
10-Q
Nov 9, 2006
10-Q
Aug 8, 2006

RELATED TOPICS for PBI:

"Minority Interest" elsewhere:

Euronet Worldwide (EEFT)
Global Payments (GPN)
Iron Mountain (IRM)
VERIFONE SYSTEMS, INC. (PAY)
Synnex (SNX)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki