Audiovox 2005 Annual Report Download - page 102

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S−1
SCHEDULE II
AUDIOVOX CORPORATION AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS
YEARS ENDED NOVEMBER 30, 2003, 2004 AND 2005
(IN THOUSANDS)
COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E
−−−−−−−−
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
−−−−−−−−−−−−−−−− −−−−−−−−−−−−−
DESCRIPTION BALANCE AT GROSS AMOUNT REVERSALS OF DEDUCTIONS (B)
BEGINNING CHARGED TO PREVIOUSLY BALANCE
OF YEAR COSTS AND ESTABLISHED AT END
EXPENSES ACCRUALS OF YEAR
2003 (a)
Allowance for doubtful accounts $3,193 $ 558 − $ (1,807) $5,558
Cash discount allowances − 1,245 − 568 677
Accrued sales incentives 4,626 19,994 $(1,803) 8,212 14,605
Reserve for warranties and product
repair costs 11,309 9,691 − 6,305 14,695
$19,128 $31,488 $(1,803) $13,278 $35,535
======= ======= ======== ======== =======
2004 (a)
Allowance for doubtful accounts $5,558 $ 237 − $ (476) $6,271
Cash discount allowances 677 2,562 − 2,736 503
Accrued sales incentives 14,605 17,012 $(3,889) 20,144 7,584
Reserve for warranties and product
repair costs 14,695 3,257 − 6,158 11,794
$35,535 $23,068 $(3,889) $ 28,562 $26,152
======= ======= ======== ========= =======
2005 (a)
Allowance for doubtful accounts $6,271 $ 1,105 $ − $ 879 $6,497
Cash discount allowances 503 1,925 − 2,001 427
Accrued sales incentives 7,584 20,609 (2,836) 15,531 9,826
Reserve for warranties and product
repair costs 11,794 6,063 − 7,528 10,329
$26,152 $29,702 $(2,836) $ 25,939 $27,079
======= ======= ======== ======== =======
(a) The Valuation and Qualification Accounts of the Company's discontinued
operations are not included in the above amounts (See Note 2 of the consolidated
financial statements).
(b) For the allowance for doubtful accounts, cash discount allowances and
accrued sales incentives, deductions represent currency effects, chargebacks and
payments made or credits issued to customers. For the reserve for warranties and
product repair costs, deductions represent currency effects and payments for
labor and parts made to service centers and vendors for the repair of units
returned under warranty.
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