Invacare 2007 Annual Report Download - page 68

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CONSOLIDATED BALANCE SHEETS
INVACARE CORPORATION AND SUBSIDIARIES
December 31,
2007
December 31,
2006
(In thousands)
Assets
Current Assets
Cash and cash equivalents ........................................... $ 62,200 $ 82,203
Marketable securities ............................................... 255 190
Trade receivables, net .............................................. 264,143 261,606
Installment receivables, net .......................................... 4,057 7,097
Inventories, net .................................................... 195,604 201,756
Deferred income taxes .............................................. 2,478 13,512
Other current assets ................................................ 62,348 89,394
Total Current Assets .......................................... 591,085 655,758
Other Assets ......................................................... 91,662 67,443
Other Intangibles ..................................................... 104,736 102,876
Property and Equipment, net ........................................... 169,376 173,945
Goodwill ............................................................ 543,183 490,429
Total Assets .......................................................... $1,500,042 $1,490,451
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable .................................................. $ 150,170 $ 163,041
Accrued expenses .................................................. 145,958 147,776
Accrued income taxes .............................................. 5,973 12,916
Short-term debt and current maturities of long-term obligations ............. 24,510 124,243
Total Current Liabilities ....................................... 326,611 447,976
Long-Term Debt ...................................................... 513,342 448,883
Other Long-Term Obligations .......................................... 106,046 107,223
Shareholders’ Equity
Preferred Shares (Authorized 300 shares; none outstanding) ................ — —
Common Shares (Authorized 100,000 shares; 32,126 and 32,051 issued in 2007
and 2006, respectively)—no par .................................... 8,034 8,013
Class B Common Shares (Authorized 12,000 shares; 1,112, issued and
outstanding in 2007 and 2006)—no par ............................... 278 278
Additional paid-in-capital ........................................... 147,295 144,719
Retained earnings .................................................. 276,344 276,750
Accumulated other comprehensive earnings ............................. 164,969 99,188
Treasury shares (1,200 and 1,186 shares in 2007 and 2006, respectively) ...... (42,877) (42,579)
Total Shareholders’ Equity ............................................. 554,043 486,369
Total Liabilities and Shareholders’ Equity ................................ $1,500,042 $1,490,451
See notes to consolidated financial statements.
FS-4