Invacare 2007 Annual Report Download - page 70

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CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
INVACARE CORPORATION AND SUBSIDIARIES
Common
Stock
Class B
Stock
Additional
Paid-in-
Capital
Retained
Earnings
Accumulated Other
Comprehensive
Earnings (Loss)
Unearned
Compen-
sation
Treasury
Stock Total
(In thousands)
January 1, 2005 Balance ......... $7,803 $278 $124,798 $ 550,753 $104,629 $(1,557) $(32,261) $ 754,443
Exercise of stock options, including
tax benefit ................... 117 14,133 (6,004) 8,246
Restricted stock awards ........... 5 1,011 (1,016) —
Restricted stock award expense .... 881 881
Net earnings ................... 48,852 48,852
Foreign currency translation
adjustments .................. (56,176) (56,176)
Unrealized losses on cash flow
hedges ...................... (1,008) (1,008)
Marketable securities holding
gain ........................ 35 35
Total comprehensive loss ......... (8,297)
Dividends ..................... (1,580) (1,580)
December 31, 2005 Balance ...... 7,925 278 139,942 598,025 47,480 (1,692) (38,265) 753,693
Cumulative effect adjustment,
adoption of SAB 108, net of
tax ......................... (1,912) (1,912)
Adjustment upon adoption of
FAS 123R ................... (1,692) 1,692 —
Exercise of stock options ......... 59 4,911 (4,314) 656
Non-qualified stock option
expense ..................... 512 512
Restricted stock awards ........... 29 1,046 1,075
Net loss ....................... (317,774) (317,774)
Foreign currency translation
adjustments .................. 64,386 64,386
Unrealized gains on cash flow
hedges ...................... 2,303 2,303
Marketable securities holding loss . . (41) (41)
Total comprehensive loss ......... (251,126)
Adjustment to initially apply FASB
Statement No. 158, net of tax .... (14,940) (14,940)
Dividends ..................... (1,589) (1,589)
December 31, 2006 Balance ...... 8,013 278 144,719 276,750 99,188 — (42,579) 486,369
Exercise of stock options ......... 1 42 43
Non-qualified stock option
expense ..................... 1,232 1,232
Restricted stock awards ........... 20 1,302 (298) 1,024
Net earnings ................... 1,190 1,190
Foreign currency translation
adjustments .................. 66,373 66,373
Unrealized loss on cash flow
hedges ...................... (3,334) (3,334)
Defined benefit plans amortization of
prior service costs and
unrecognized losses ............ 2,701 2,701
Marketable securities holding
gain ........................ 41 41
Total comprehensive income ...... 66,971
Dividends ..................... (1,596) (1,596)
December 31, 2007 Balance ...... $8,034 $278 $147,295 $ 276,344 $164,969 $ — $(42,877) $ 554,043
See notes to consolidated financial statements.
FS-6