Invacare 2006 Annual Report Download - page 73

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Inventories
Inventories as of December 31, 2006 and 2005 consist of the following (in thousands):
2006 2005
Finished goods .............................................. $118,323 $100,337
Raw materials ............................................... 66,718 59,888
Work in process ............................................. 16,715 16,700
$201,756 $176,925
Other Current Assets
Other current assets as of December 31, 2006 and 2005 consist of the following (in thousands):
2006 2005
Value added taxes receivable . . . ................................... $43,264 $31,125
Prepaids and other current assets ................................... 46,130 32,204
$89,394 $63,329
Property And Equipment
Property and equipment as of December 31, 2006 and 2005 consist of the following (in thousands):
2006 2005
Machinery and equipment . . ................................... $276,062 $ 252,545
Land, buildings and improvements .............................. 86,544 84,031
Furniture and fixtures ........................................ 29,609 28,788
Leasehold improvements . . . ................................... 15,943 15,194
408,158 380,558
Less allowance for depreciation ................................. (234,213) (204,352)
$ 173,945 $ 176,206
Acquisitions
In 2006, Invacare Corporation acquired the following businesses, which were individually immaterial and in
the aggregate, at a total cost of $15,296,000, which was paid in cash:
• Home Health Equipment Pty Ltd (HHE), an Australian based company, and leading supplier of medical
equipment in South Australia, providing high quality equipment and service to institutions and individual
clients selling the full range of rehabilitation, mobility and continuing care products.
• Morris Surgical Pty Ltd (Morris), an Australian based company, and a leading supplier of medical
equipment in Queensland, providing high quality equipment and service to institutions and individual
clients selling the full range of rehabilitation, mobility, continuing care products as well as niche and made
to order products.
On September 9, 2004 the company acquired 100% of the shares of WP Domus GmbH (Domus), a European-
based holding company that manufactures several complementary product lines to Invacare’s product lines,
including power add-on products, bath lifts and walking aids, from WP Domus LLC. Domus has three divisions:
FS-14
INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)