E-Z-GO 2007 Annual Report Download - page 98

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Textron Inc.
Schedule II – Valuation and Qualifying Accounts
(In millions) 2007 2006 2005
Manufacturing Group
Allowance for Doubtful Accounts
Balance at beginning of year $ 34 $ 38 $ 54
Charged to costs and expenses 5 4 16
Deductions from reserves* (5) (8) (32)
Balance at end of year $ 34 $ 34 $ 38
Reserves for Recourse Liability to Finance Group — Continuing Operations**
Balance at beginning of year $ 39 $ 40 $ 37
Charged to costs and expenses 2 — 12
Deductions from reserves* (19) (1) (9)
Balance at end of year $ 22 $ 39 $ 40
Inventory FIFO Reserves
Balance at beginning of year $ 89 $ 85 $ 91
Charged to costs and expenses 37 29 25
Deductions from reserves* (25) (25) (31)
Balance at end of year $ 101 $ 89 $ 85
Finance Group
Allowance for Losses on Finance Receivables
Balance at beginning of year $ 93 $ 96 $ 99
Provision for losses 33 26 29
Deduction from reserves* (37) (29) (32)
Balance at end of year $ 89 $ 93 $ 96
* Deductions generally included uncollectible accounts written off (less recoveries), payments, inventory disposals and currency translation adjustments.
** These reserves exclude discontinued operations liabilities of $3 million in 2007, $6 million in 2006 and $18 million in 2005. The decline in these reserves is
primarily due to collections in 2007 and write-offs in 2006.
Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure
None
77