Invacare 2013 Annual Report Download - page 124

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
FS-50
CONSOLIDATING CONDENSED STATEMENTS OF OPERATIONS
The
Company
(Parent)
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Total
(in thousands)
Year ended December 31, 2011
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 379,570 $ 457,404 $ 746,359 $ (100,904) $ 1,482,429
Cost of products sold . . . . . . . . . . . . . . . . . 276,164 330,094 503,050 (100,664) 1,008,644
Gross Profit . . . . . . . . . . . . . . . . . . . . 103,406 127,310 243,309 (240) 473,785
Selling, general and administrative
expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . 131,145 25,220 182,510 54,560 393,435
Charge related to restructuring activities . . 3,854 426 5,977 — 10,257
Loss on debt extinguishment including
debt finance charges and associated fees . . 24,200 — — — 24,200
Asset write-downs to intangibles and
goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,531 3,592 40,357 — 49,480
Income (loss) from equity investee . . . . . . 58,155 3,364 1,523 (63,042) —
Interest expense—net. . . . . . . . . . . . . . . . . 38 5,430 3,425 — 8,893
Earnings (Loss) from Continuing
Operations Before Income Taxes. . . (3,207) 96,006 12,563 (117,842)(12,480)
Income taxes (benefit) . . . . . . . . . . . . . . . . 906 (344) 8,718 — 9,280
Net Earnings (Loss) from
Continuing Operations . . . . . . . . . . . $ (4,113) $ 96,350 $ 3,845 $ (117,842) $ (21,760)
Net Earnings from Discontinued
Operations . . . . . . . . . . . . . . . . . . . . . — 17,647 — — 17,647
Net Earnings (Loss). . . . . . . . . . . . . . $ (4,113) $ 113,997 $ 3,845 $ (117,842) $ (4,113)
Other Comprehensive Income (Loss),
net of Tax. . . . . . . . . . . . . . . . . . . . . . . . . . 12,245 (2,026) 14,828 (12,802) 12,245
Comprehensive Income (Loss) . . . . . . . . $ 8,132 $ 111,971 $ 18,673 $ (130,644) $ 8,132