Audiovox 2008 Annual Report Download - page 105

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SCHEDULE II
AUDIOVOX CORPORATION AND SUBSIDIARIES
Valuation and Qualifying Accounts
Years ended February 29, 2008, February 28, 2007,
the Three Months Ended February 28, 2006, and the Year Ended November 30, 2005
(In thousands)
Column A Column B Column C Column D Column E
Gross
Amount Reversals of
Balance at Charged to Previously Balance
Beginning Costs and Established at End
Description of Year Expenses Accruals Deductions (b) of Year
Year ended November 30,
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 (c) 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
Three months ended February
28, 2006
Allowance for doubtful
accounts $ 6,497 $ (595) $ - $ (234) $ 6,136
Cash discount allowances 427 393 - 495 325
Accrued sales incentives 9,826 3,526 (480) 4,360 8,512
Reserve for warranties and
product repair costs 10,329 477 - 859 9,947
$ 27,079 $ 3,801 $ (480) $ 5,480 $ 24,920
Year ended February 28, 2007
Allowance for doubtful
accounts $ 6,136 $ (23) $ - $ 1,051 $ 5,062
Cash discount allowances 325 1,483 - 1,543 265
Accrued sales incentives 8,512 14,961 (2,460) 13,603 7,410
Reserve for warranties and
product repair costs (c) 9,947 9,752 - 10,113 9,586
$ 24,920 $ 26,173 $ (2,460) $ 26,310 $ 22,323
Year ended February 29, 2008
Allowance for doubtful
accounts $ 5,062 $ (297) $ - $ (1,621) $ 6,386
Cash discount allowances 265 3,377 - 3,367 275
Accrued sales incentives 7,410 29,084 (4,108) 21,618 10,768
Reserve for warranties and
product repair costs (c) 9,586 22,249 - 14,516 17,319
$ 22,323 $ 54,413 $ (4,108) $ 37,880 $ 34,748
(a) The Valuation and Qualification Accounts of the Company's discontinued operations are not included in the above amounts (see
Note 2 of the Notes to 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.
Source: AUDIOVOX CORP, 10-K, May 14, 2008