Invacare 2009 Annual Report Download - page 72
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CONSOLIDATED BALANCE SHEETS
INVACARE CORPORATION AND SUBSIDIARIES
December 31,
2009
December 31,
2008 (1)
(In thousands)
Assets
Current Assets
Cash and cash equivalents ........................................... $ 37,501 $ 47,516
Trade receivables, net .............................................. 263,014 266,483
Installment receivables, net .......................................... 3,565 4,267
Inventories, net .................................................... 172,222 178,737
Deferred income taxes .............................................. 390 2,051
Other current assets ................................................ 51,772 52,004
Total Current Assets .......................................... 528,464 551,058
Other Assets ......................................................... 48,006 60,451
Other Intangibles ..................................................... 85,305 84,766
Property and Equipment, net ........................................... 141,633 143,512
Goodwill ............................................................ 556,093 474,686
Total Assets .......................................................... $1,359,501 $1,314,473
Liabilities and Shareholders’ Equity
Current Liabilities
Accounts payable .................................................. $ 141,059 $ 119,633
Accrued expenses .................................................. 142,293 143,612
Accrued income taxes .............................................. 5,884 3,054
Short-term debt and current maturities of long-term obligations ............. 1,091 18,699
Total Current Liabilities ....................................... 290,327 284,998
Long-Term Debt ...................................................... 272,234 407,707
Other Long-Term Obligations .......................................... 95,703 88,826
Shareholders’ Equity
Preferred Shares (Authorized 300 shares; none outstanding) ................ — —
Common Shares (Authorized 100,000 shares; 33,048 and 32,449 issued in 2009
and 2008, respectively)—no par .................................... 8,273 8,119
Class B Common Shares (Authorized 12,000 shares; 1,111 and 1,111, issued
and outstanding in 2009 and 2008, respectively)—no par ................ 278 278
Additional paid-in-capital ........................................... 229,272 215,279
Retained earnings .................................................. 346,272 306,698
Accumulated other comprehensive earnings ............................. 174,204 50,789
Treasury shares (1,834 and 1,424 shares in 2009 and 2008, respectively) ...... (57,062) (48,221)
Total Shareholders’ Equity ............................................. 701,237 532,942
Total Liabilities and Shareholders’ Equity ................................ $1,359,501 $1,314,473
(1) Adjusted to reflect the retrospective application of FSP APB 14-1 as codified in Debt with Conversion and
Other Options, ASC 470-20. See Recent Accounting Pronouncements.
See notes to consolidated financial statements.
FS-4