Invacare 2008 Annual Report Download - page 70

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CONSOLIDATED BALANCE SHEETS
INVACARE CORPORATION AND SUBSIDIARIES
December 31,
2008
December 31,
2007
(In thousands)
Assets
Current Assets
Cash and cash equivalents ........................................... $ 47,516 $ 62,200
Marketable securities ............................................... 72 255
Trade receivables, net .............................................. 266,483 264,143
Installment receivables, net .......................................... 4,267 4,057
Inventories, net .................................................... 178,737 195,604
Deferred income taxes .............................................. 2,051 2,478
Other current assets ................................................ 51,932 62,348
Total Current Assets .......................................... 551,058 591,085
Other Assets ......................................................... 60,451 91,662
Other Intangibles ..................................................... 84,766 104,736
Property and Equipment, net ........................................... 143,512 169,376
Goodwill ............................................................ 474,686 543,183
Total Assets $1,314,473 $1,500,042
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable .................................................. $ 119,633 $ 150,170
Accrued expenses .................................................. 143,612 145,958
Accrued income taxes .............................................. 3,054 5,973
Short-term debt and current maturities of long-term obligations ............. 18,699 24,510
Total Current Liabilities ....................................... 284,998 326,611
Long-Term Debt ...................................................... 460,121 513,342
Other Long-Term Obligations .......................................... 88,826 106,046
Shareholders’ Equity
Preferred Shares (Authorized 300 shares; none outstanding) ................ — —
Common Shares (Authorized 100,000 shares; 32,449 and 32,126 issued in 2008
and 2007, respectively)—no par .................................... 8,119 8,034
Class B Common Shares (Authorized 12,000 shares; 1,111 and 1,112, issued
and outstanding in 2008 and 2007, respectively)—no par ................ 278 278
Additional paid-in-capital ........................................... 156,267 147,295
Retained earnings .................................................. 313,296 276,344
Accumulated other comprehensive earnings ............................. 50,789 164,969
Treasury shares (1,424 and 1,200 shares in 2008 and 2007, respectively) ...... (48,221) (42,877)
Total Shareholders’ Equity ............................................. 480,528 554,043
Total Liabilities and Shareholders’ Equity ................................ $1,314,473 $1,500,042
See notes to consolidated financial statements.
FS-4