Invacare 2009 Annual Report Download - page 74

Download and view the complete annual report

Please find page 74 of the 2009 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 128

  • 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
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY
INVACARE CORPORATION AND SUBSIDIARIES
Common
Stock
Class B
Stock
Additional
Paid-in-
Capital
Retained
Earnings
Accumulated Other
Comprehensive
Earnings
Treasury
Stock Total
(In thousands)
January 1, 2007 Balance ............... $8,013 $278 $144,719 $276,750 $ 99,188 $(42,579) $ 486,369
Exercise of stock options ............... 1 42 43
Non-qualified stock option expense ....... 1,232 1,232
Restricted stock awards ................. 20 1,302 (298) 1,024
Net loss ............................. (1,714) (1,714)
Foreign currency translation adjustments . . . 66,373 66,373
Unrealized loss on cash flow hedges ...... (3,334) (3,334)
Defined benefit plans amortization of prior
service costs and unrecognized losses .... 2,701 2,701
Marketable securities holding gain ........ 41 41
Total comprehensive income ............ 64,067
Convertible debt discount (1) ............ 59,012 59,012
Dividends ........................... (1,596) (1,596)
December 31, 2007 Balance (1) ......... $8,034 $278 $206,307 $273,440 $ 164,969 $(42,877) $ 610,151
Exercise of stock options ............... 61 5,697 (5,011) 747
Non-qualified stock option expense ....... 1,961 1,961
Restricted stock awards ................. 24 1,314 (333) 1,005
Net earnings ......................... 34,857 34,857
Foreign currency translation adjustments . . . (124,361) (124,361)
Unrealized loss on cash flow hedges ...... (387) (387)
Defined benefit plans:
Amortization of prior service costs and
unrecognized losses and credits .... 2,513 2,513
Plan amendment giving rise to prior
service credit ................... 12,455 12,455
Amounts arising during the year,
primarily due to the addition of new
participants .................... (4,287) (4,287)
Marketable securities holding loss ........ (113) (113)
Total comprehensive loss ............... (79,323)
Dividends ........................... (1,599) (1,599)
December 31, 2008 Balance (1) ......... $8,119 $278 $215,279 $306,698 $ 50,789 $(48,221) $ 532,942
Exercise of stock options ............... 123 9,529 (8,297) 1,355
Non-qualified stock option expense ....... 2,713 2,713
Restricted stock awards ................. 31 1,751 (544) 1,238
Net earnings ......................... 41,179 41,179
Foreign currency translation adjustments . . . 119,453 119,453
Unrealized gain on cash flow hedges ...... 3,329 3,329
Defined benefit plans:
Amortization of prior service costs and
unrecognized losses and credits .... 537 537
Marketable securities holding gain ........ 96 96
Total comprehensive income ............ 164,594
Dividends ........................... (1,605) (1,605)
December 31, 2009 Balance ............ $8,273 $278 $229,272 $346,272 $ 174,204 $(57,062) $ 701,237
(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-6