The Company’s results for the quarter and the year are summarized in the table below:
|Earnings Per Share Reconciliation*||Q4 2012||Q4 2011||FY 2012||FY 2011|
|Adjusted EPS from continuing operations before net tax benefit||$0.56||$0.61||$2.07||$2.31|
|Net tax benefit||-||$0.37||$0.11||$0.44|
|Adjusted EPS from continuing operations||$0.56||$0.98||$2.18||$2.75|
|Restructuring and asset impairments||($0.07)||($0.31)||($0.08)||($0.48)|
|Sale of leveraged lease assets||-||-||$0.06||$0.13|
|GAAP EPS from continuing operations||$0.49||$0.25||$2.16||$1.98|
|Discontinued operations – income (loss)||$0.06||$1.03||$0.05||$1.07|
|*2012 and 2011 results reflect the International Mail Services (IMS) business as a discontinued operation.|
|The sum of the earnings per share may not equal the totals above due to rounding.|
Free Cash Flow Results
Free cash flow during the quarter was $253 million and $769 million for the year. On a GAAP basis, the Company generated $256 million in cash from operations for the quarter and $660 million for the year. During the fourth quarter, the Company used cash to pay $84 million in dividends. For the year, the Company has used its cash primarily to reduce debt, pay dividends, contribute to its pension plans and make restructuring payments.
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