Invacare 2008 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 of the 2008 Invacare annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Receivables—Continued
Installment receivables as of December 31, 2008 and 2007 consist of the following (in thousands):
2008 2007
Current
Long-
Term Total Current
Long-
Term Total
Installment receivables ....................... $5,549 $ 9,568 $15,117 $4,404 $30,560 $34,964
Less:
Unearned interest ........................... (129) — (129) (100) (3,176) (3,276)
Allowance for doubtful accounts ............... (1,153) (3,889) (5,042) (247) (3,578) (3,825)
$ 4,267 $ 5,679 $ 9,946 $4,057 $23,806 $27,863
In addition, as a result of the company’s third party financing arrangement, management monitors the
collection status of the contracts with De Lage Landen, Inc. for which the company has a limited recourse
obligation and provides amounts necessary for estimated losses in the allowance for doubtful accounts. See
Concentration of Credit Risk in the Notes to the Consolidated Financial Statements for a description of the
financing arrangement. Long-term installment receivables are included in “Other Assets” on the consolidated
balance sheet.
Inventories
Inventories as of December 31, 2008 and 2007 consist of the following (in thousands):
2008 2007
Finished goods .................................................. $ 99,486 $116,808
Raw materials .................................................. 64,493 63,815
Work in process ................................................. 14,758 14,981
$178,737 $195,604
Other Current Assets
Other current assets as of December 31, 2008 and 2007 consist of the following (in thousands):
2008 2007
Value added taxes receivable ........................................ $22,062 $22,808
Recoverable income taxes ........................................... 6,460 11,219
Prepaids and other current assets ..................................... 23,410 28,321
$51,932 $62,348
FS-14