Invacare 2009 Annual Report Download - page 111

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Business Segments—Continued
Net sales by product, are as follows (in thousands):
2009 2008 2007
North America/HME
Standard ............................................... $ 296,068 $ 280,662 $ 244,682
Rehab ................................................. 283,214 284,793 273,960
Respiratory ............................................ 133,821 145,627 128,870
Other ................................................. 35,298 30,420 21,852
$ 748,401 $ 741,502 $ 669,364
Invacare Supply Group
Distributed ............................................. $ 280,295 $ 265,818 $ 256,993
Institutional Products Group
Continuing Care ........................................ $ 89,423 $ 99,662 $ 87,967
Europe
Standard ............................................... $ 268,138 $ 306,264 $ 291,574
Rehab ................................................. 219,667 232,384 195,182
Respiratory ............................................ 15,279 15,197 11,353
$ 503,084 $ 553,845 $ 498,109
Asia/Pacific
Rehab ................................................. $ 36,349 $ 45,536 $ 41,310
Standard ............................................... 18,887 22,768 20,655
Respiratory ............................................ 6,243 8,763 8,980
Other ................................................. 10,454 17,800 18,859
$ 71,933 $ 94,867 $ 89,804
Total Consolidated .......................................... $1,693,136 $1,755,694 $1,602,237
No single customer accounted for more than 3.3% of the company’s sales.
Supplemental Guarantor Information
Effective February 12, 2007, substantially all of the domestic subsidiaries (the “Guarantor Subsidiaries”) of
the company became guarantors of the indebtedness of Invacare Corporation under its 9.75% Senior Notes due
2015 (the “Senior Notes”) with an aggregate principal amount of $175,000,000 and under its 4.125% Convertible
Senior Subordinated Debentures due 2027 (the “Debentures”) with an aggregate principal amount of
$135,000,000. The majority of the company’s subsidiaries are not guaranteeing the indebtedness of the Senior
Notes or Debentures (the “Non-Guarantor Subsidiaries”). Each of the Guarantor Subsidiaries has fully and
unconditionally guaranteed, on a joint and several basis, to pay principal, premium, and interest related to the
Senior Notes and to the Debentures and each of the Guarantor Subsidiaries are directly or indirectly
wholly-owned subsidiaries of the company.
Presented below are the consolidating condensed financial statements of Invacare Corporation (Parent), its
combined Guarantor Subsidiaries and combined Non-Guarantor Subsidiaries with their investments in
subsidiaries accounted for using the equity method. The company does not believe that separate financial
statements of the Guarantor Subsidiaries are material to investors and accordingly, separate financial statements
and other disclosures related to the Guarantor Subsidiaries are not presented.
FS-43