Audiovox 2010 Annual Report Download - page 102

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SCHEDULE II
AUDIOVOX CORPORATION AND SUBSIDIARIES
Valuation and Qualifying Accounts
Year ended February 28, 2010, February 28, 2009 and February 29, 2008
(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 (a) of Year
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 (b) 9,586 22,249 - 14,516 17,319
$ 22,323 $ 54,413 $ (4,108) $ 37,880 $ 34,748
Year ended February 28, 2009
Allowance for doubtful accounts $ 6,386 $ (1,905) $ - $ (2,880) $ 7,361
Cash discount allowances 275 3,649 - 3,725 199
Accrued sales incentives 10,768 23,877 (4,083) 22,645 7,917
Reserve for warranties and product repair
costs 17,319 12,187 - 15,096 14,410
$ 34,748 $ 37,808 $ (4,083) $ 38,586 $ 29,887
Year ended February 28, 2010
Allowance for doubtful accounts $ 7,361 $ (192) $ - $ 1,427 $ 5,742
Cash discount allowances 199 4,680 - 4,094 785
Accrued sales incentives 7,917 29,629 (2,559) 24,381 10,606
Reserve for warranties and product repair
costs 14,410 12,931 - 14,283 13,058
$ 29,887 $ 47,048 $ (2,559) $ 44,185 $ 30,191
(a) 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.
(b) Column C includes $1,255, $1,705, $325, $646, $12,848 and $879of liabilities acquired during the Thomson Accessory,
Oehlbach, Technuity, Thomson Audio/Video and Invision acquisitions, respectively (see Note 3 of the Consolidated Financial
Statements).
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Source: AUDIOVOX CORP, 10-K, May 14, 2010 Powered by Morningstar® Document Research℠