Invacare 2007 Annual Report Download - page 92

INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Capital Stock—Continued
Stock awards for 8,000 shares were cancelled in 2007. Stock option exercises in 2006 include deferred share
activity, which increased common shares by 9,000 shares and treasury shares by 4,000 shares. Stock option
exercises in 2005 include deferred share activity, which increased common shares by 108,000 shares and treasury
shares by 14,000 shares.
Other Comprehensive Earnings (Loss)
The components of other comprehensive earnings (loss) are as follows (in thousands):
Currency
Translation
Adjustments
Unrealized
Gain (Loss) on
Available-for-Sale
Securities
Defined
Benefit
Plans
Unrealized
Gain (Loss) on
Derivative
Financial
Instruments Total
Balance at January 1, 2005 ................... $104,470 $666 $ (507) $104,629
Foreign currency translation adjustments ........ (56,176) (56,176)
Unrealized gain on available for sale securities . . . 54 54
Deferred tax liability relating to unrealized gain on
available for sale securities ................. (19) (19)
Current period unrealized loss on cash flow
hedges, net of reclassifications .............. (1,551) (1,551)
Deferred tax benefit relating to unrealized loss on
derivative financial instruments ............. 543 543
Balance at December 31, 2005 ................ 48,294 701 (1,515) 47,480
Foreign currency translation adjustments ........ 64,386 64,386
Unrealized loss on available for sale securities . . . (63) (63)
Deferred tax benefit relating to unrealized loss on
available for sale securities ................. 22 22
Adjustment to initially apply FASB Statement
No.158 ................................ (14,940) (14,940)
Deferred tax benefit resulting from adjustment to
initially apply FASB Statement No. 158 ...... 5,229 5,229
Valuation reserve resulting from adjustment to
initially apply FASB Statement No. 158 ...... (5,229) (5,229)
Current period unrealized gain on cash flow
hedges, net of reclassifications .............. 3,543 3,543
Deferred tax liability relating to unrealized gain on
derivative financial instruments ............. (1,240) (1,240)
Balance at December 31, 2006 ................ 112,680 660 (14,940) 788 99,188
Foreign currency translation adjustments ........ 66,373 66,373
Unrealized gain on available for sale securities . . . 63 63
Deferred tax liability relating to unrealized gain on
available for sale securities ................. (22) (22)
Defined benefit plan amortization of prior service
costs and unrecognized losses ............... 2,701 2,701
Deferred tax expense resulting from Defined
benefit plan amortization of prior service costs
and unrecognized losses ................... (945) (945)
Valuation reserve reduction resulting from
amortization of prior service costs and
unrecognized losses related to Defined benefit
plans .................................. 945 945
Current period unrealized loss on cash flow
hedges, net of reclassifications .............. (3,786) (3,786)
Deferred tax benefits relating to unrealized loss on
derivative financial instruments ............. 452 452
Balance at December 31, 2007 ................ $179,053 $701 $(12,239) $(2,546) $164,969
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