Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - PITNEY BOWES INC /DE/ | Financial_Report.xls |
| EX-31.2 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140930ex312.htm |
| EX-32.1 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140930ex321.htm |
| EX-32.2 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140930ex322.htm |
| 10-Q - 10-Q - PITNEY BOWES INC /DE/ | pbi2014093010q.htm |
| EX-31.1 - EXHIBIT - PITNEY BOWES INC /DE/ | pbi-20140930ex311.htm |
Exhibit 12
PITNEY BOWES INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30, | |||||||
(Dollars in thousands) | 2014 | 2013 | |||||
Income from continuing operations before income taxes | $ | 334,516 | $ | 278,298 | |||
Add: | |||||||
Interest expense | 131,542 | 149,573 | |||||
Portion of rent expense representative of the interest factor | 14,006 | 19,054 | |||||
Income as adjusted | $ | 480,064 | $ | 446,925 | |||
Fixed charges: | |||||||
Interest expense | $ | 131,542 | $ | 149,573 | |||
Portion of rent expense representative of the interest factor | 14,006 | 19,054 | |||||
Noncontrolling interests (preferred stock dividends of subsidiaries), excluding taxes | 22,445 | 20,881 | |||||
Total fixed charges | $ | 167,993 | $ | 189,508 | |||
Ratio of earnings to fixed charges (1) | 2.86 | 2.36 | |||||
(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. |