Invacare 2006 Annual Report Download - page 88

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Balance at
1/1/05 Accruals Payments
Balance at
12/31/05 Accruals Payments
Balance at
12/31/06
Consolidated
Severance ............... $— $6,667 $(3,563) $3,104 $11,873 $ (9,718) $5,259
Contract terminations ...... — 292 (127) 165 2,091 (1,577) 679
Product line discontinuance . . — 238 (238) — 4,283 (2,246) 2,037
Other................. — 336 (336) — 3,003 (3,003) —
Total ............... $— $7,533 $(4,264) $3,269 $21,250 $(16,544) $7,975
Income Taxes
Earnings (loss) before income taxes consist of the following (in thousands):
2006 2005 2004
Domestic ......................................... $(349,144) $18,605 $ 57,557
Foreign........................................... 39,620 52,697 52,815
$(309,524) $71,302 $110,372
The company has provided for income taxes (benefits) as follows (in thousands):
2006 2005 2004
Current:
Federal ........................................... $(12,815) $ 9,475 $14,075
State............................................. 750 600 2,800
Foreign........................................... 16,030 12,475 14,050
3,965 22,550 30,925
Deferred:
Federal ........................................... 11,695 (2,225) 2,225
Foreign........................................... (7,410) 2,125 2,025
4,285 (100) 4,250
Income Taxes ........................................ $ 8,250 $22,450 $35,175
FS-29
INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Charge Related to Restructuring Activities — Continued