Invacare 2013 Annual Report Download - page 131

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
FS-57
Earnings and earnings per share for the quarter ended March 31, 2013 reflects restructuring charges of $2,522,000 pre-tax
($1,838,000 after tax or $0.06 per share assuming dilution).
Earnings and earnings per share for the quarter ended June 30, 2013 reflects restructuring charges of $2,592,000 pre-tax
($1,899,000 after tax or $0.06 per share assuming dilution) and a one-time discrete tax expense of $9,700,000 ($0.30 per share
assuming dilution) resulting from dividends received in the United States, which as a result of the intraperiod tax allocation between
continuing and discontinued operations resulted in a recognized expense for continuing operations, despite the Company being
in a domestic tax valuation allowance and the negative impact to warranty expense of $3,862,000 ($3,862,000 after tax or $0.12
per share assuming dilution) related to the Company's power wheelchair joystick recall.
Earnings and earnings per share for the quarter ended September 30, 2013 reflects restructuring charge of $1,884,000 pre-
tax ($1,765,000 after tax or $0.06 per share assuming dilution), a tax expense benefit of $3,800,000 ($0.12 per share assuming
dilution) as a result of an intraperiod tax allocation expense to discontinued operations and a valuation tax expense of $3,100,000
($0.10 per share assuming dilution) related to continuing domestic operations and asset write-downs for intangibles of $167,000
($167,000 after tax or $0.01 per share assuming dilution).
Loss and loss per share for the quarter ended December 31, 2013 reflects restructuring charges of $2,338,000 pre-tax
($1,991,000 after tax or $0.06 per share assuming dilution), negative impact to warranty expense of $3,402,000 ($3,308,000 after
tax or $0.10 per share assuming dilution) related to the Company's power wheelchair joystick recall, the negative impact of an
intraperiod tax allocation associated with discontinued operations $10,000,000 ($0.32 per share assuming dilution) and asset
write-downs for intangibles of $1,356,000 ($1,155,000 after tax or $0.04 per share assuming dilution) and $1,389,000 ($0.04 per
share) related to an amended value-added tax filing.
Earnings and earnings per share for the quarter ended March 31, 2012 reflects restructuring charges of $561,000 pre-tax
($391,000 after tax or $0.01 per share assuming dilution).
Earnings and earnings per share for the quarter ended June 30, 2012 reflects a one-time discrete tax expense related to prior
years of $9,010,000 ($0.28 per share assuming dilution), restructuring charges of $2,006,000 pre-tax ($2,086,000 after tax or $0.07
per share assuming dilution) and loss on debt extinguishment including debt finance charges and associated fees of $312,000
($312,000 after tax or $0.01 per share assuming dilution) as a result of the Company’s decision to extinguish higher interest rate
debt.
Earnings and earnings per share for the quarter ended September 30, 2012 reflects restructuring charge of $1,175,000 pre-
tax ($1,129,000 after tax or $0.04 per share assuming dilution).
Loss and loss per share for the quarter ended December 31, 2012 reflects restructuring charges of $7,653,000 ($7,623,000
after tax or $0.24 per share assuming dilution), the positive impact of an intraperiod tax allocation associated with discontinued
operations $2,200,000 ($0.07 per share assuming dilution) and asset write-downs for intangibles of $773,000 ($698,000 after tax
or $0.02 per share assuming dilution).