Invacare 2007 Annual Report Download - page 105

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
CONSOLIDATING CONDENSED BALANCE SHEETS
The
Company
(Parent)
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Total
(in thousands)
December 31, 2006
Assets
Current Assets
Cash and cash equivalents ........ $ 35,918 $ 2,202 $ 44,083 $ — $ 82,203
Marketable securities ............ 190 — — — 190
Trade receivables, net ............ 651 15,888 248,667 (3,600) 261,606
Installment receivables, net ....... — 5,513 1,584 — 7,097
Inventories, net ................. 77,201 37,511 88,585 (1,541) 201,756
Deferred income taxes ........... 4,223 393 8,896 — 13,512
Other current assets ............. 26,353 8,764 55,477 (1,200) 89,394
Total Current Assets ........... 144,536 70,271 447,292 (6,341) 655,758
Investment in subsidiaries ........... 1,293,046 607,559 — (1,900,605) —
Intercompany advances, net ......... 354,660 850,121 110,935 (1,315,716) —
Other Assets ...................... 50,443 15,566 1,434 — 67,443
Other Intangibles .................. 1,016 13,150 88,710 — 102,876
Property and Equipment, net ........ 65,016 11,550 97,379 — 173,945
Goodwill ......................... — 23,541 466,888 — 490,429
Total Assets ................... 1,908,717 $1,591,758 $1,212,638 $(3,222,662) $1,490,451
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable ............... $ 89,818 $ 12,095 $ 61,128 $ — $ 163,041
Accrued expenses ............... 34,611 17,405 100,560 (4,800) 147,776
Accrued income taxes ........... 10,021 26 2,869 — 12,916
Short-term debt and current maturities of
long-term obligations .............. 51,773 — 72,470 — 124,243
Total Current Liabilities ........ 186,223 29,526 237,027 (4,800) 447,976
Long-Term Debt ................... 321,263 70 127,550 — 448,883
Other Long-Term Obligations ....... 52,039 2,040 53,144 — 107,223
Intercompany advances, net ......... 862,823 370,452 82,441 (1,315,716) —
Total Shareholders’ Equity ...... 486,369 1,189,670 712,476 (1,902,146) 486,369
Total Liabilities and
Shareholders’ Equity ......... $1,908,717 $1,591,758 $1,212,638 $(3,222,662) $1,490,451
FS-41