Invacare 2009 Annual Report Download - page 93

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Other Comprehensive Earnings
The components of accumulated other comprehensive earnings are as follows (in thousands):
Currency
Translation
Adjustments
Unrealized
Gain (Loss) on
Available-for-Sale
Securities
Defined
Benefit
Plans
Unrealized
Gain (Loss) on
Derivative
Financial
Instruments Total
Balance at January 1, 2007 ............................... $112,680 $ 660 $(14,940) $ 788 $ 99,188
Foreign currency translation adjustments .................... 66,373 66,373
Unrealized gain on available for sale securities ............... 63 63
Deferred tax liability relating to unrealized gain on available for
sale securities ........................................ (22) (22)
Defined benefit plan amortization of prior service costs and
unrecognized losses ................................... 2,701 2,701
Deferred tax expense resulting from Defined benefit plan
amortization of prior service costs and unrecognized losses .... (945) (945)
Valuation reserve reduction resulting from amortization of prior
service costs and unrecognized losses related to Defined benefit
plans ............................................... 945 945
Current period unrealized loss on cash flow hedges, net of
reclassifications ...................................... (3,786) (3,786)
Deferred tax benefits relating to unrealized loss on derivative
financial instruments .................................. 452 452
Balance at December 31, 2007 ............................ $179,053 $ 701 $(12,239) $(2,546) $ 164,969
Foreign currency translation adjustments .................... (124,361) (124,361)
Unrealized loss on available for sale securities ................ (113) (113)
Deferred tax asset relating to unrealized loss on available for sale
securities ........................................... 40 40
Valuation reserve reduction relating to unrealized loss on
available for sale securities ............................. (40) (40)
Defined Benefit Plans:
Amortization of prior service costs and unrecognized losses . . . 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)
Deferred tax expense resulting from amortization of prior
service costs and unrecognized losses, prior service credit
and other amounts arising during the year ............... (3,738) (3,738)
Valuation reserve reduction resulting from amortization of prior
service costs and unrecognized losses, prior service credit
and other amounts arising during the year ............... 3,738 3,738
Current period unrealized loss on cash flow hedges, net of
reclassifications ...................................... (470) (470)
Deferred tax benefits relating to unrealized loss on derivative
financial instruments .................................. 83 83
Balance at December 31, 2008 ............................ $ 54,692 $ 588 $ (1,558) $(2,933) $ 50,789
Foreign currency translation adjustments .................... 119,453 119,453
Unrealized gain on available for sale securities ............... 96 96
Deferred tax liability relating to unrealized gain on available for
sale securities ........................................ (34) (34)
Valuation reserve reduction relating to unrealized gain on
available for sale securities ............................. 34 34
Defined benefit plan amortization of prior service costs and
unrecognized losses ................................... 537 537
Deferred tax expense resulting from Defined benefit plan
amortization of prior service costs and unrecognized losses .... (188) (188)
Valuation reserve reduction resulting from amortization of prior
service costs and unrecognized losses related to Defined benefit
plans ............................................... 188 188
Current period unrealized gain on cash flow hedges, net of
reclassifications ...................................... 3,360 3,360
Deferred tax loss relating to unrealized gain on derivative
financial instruments .................................. (31) (31)
Balance at December 31, 2009 ............................ $174,145 $ 684 $ (1,021) $ 396 $ 174,204
A net loss of $3,157,000 in 2009, a net loss of $26,000 in 2008 and a net gain of $451,000 in 2007 were
reclassified into earnings related to derivative instruments designated and qualifying as cash flow hedges.
FS-25