Garmin 2005 Annual Report Download - page 95

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65
and administrative costs, interest income and expense, foreign currency adjustments, and other non-operating
corporate expenses. The accounting policies of the reportable segments are the same as those described in the
summary of significant accounting policies. There are no inter-segment sales or transfers.
The identifiable assets associated with each reportable segment reviewed by the CODM include accounts
receivable and inventories. The Company does not report property and equipment, intangible assets, depreciation
and amortization, or capital expenditures by segment to the CODM.
Revenues, interest income and interest expense, income before income taxes, and identifiable assets for
each of the Company’s reportable segments are presented below:
Fiscal Year Ended December 31, 2005
Consumer Aviation Total
Net sales to external customers $798,615 $229,158 $1,027,773
Allocated interest income 15,219 4,367 19,586
Allocated interest expense 37 11 48
Income before income taxes 273,098 99,502 372,600
Assets:
Accounts receivable 132,871 38,126 170,997
Inventories 155,283 44,558 199,841
Fiscal Year Ended December 25, 2004
Consumer Aviation Total
Net sales to external customers $591,023 $171,526 $762,549
Allocated interest income 7,300 2,119 9,419
Allocated interest expense 30 8 38
Income before income taxes 196,326 58,885 255,211
Assets:
Accounts receivable 85,349 24,770 110,119
Inventories 120,119 34,861 154,980
Fiscal Year Ended December 27, 2003
Consumer Aviation Total
Net sales to external customers $452,437 $120,552 $572,989
Allocated interest income 5,901 1,572 7,473
Allocated interest expense 422 112 534
Income before income taxes 182,701 43,242 225,943
Assets:
Accounts receivable 65,315 17,403 82,718
Inventories 76,429 20,365 96,794
Net sales, long-lived assets (property and equipment), and net assets by geographic area are as follows as of
and for the years ended December 31, 2005, December 25, 2004, and December 27, 2003: