Invacare 2012 Annual Report Download - page 114
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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
Severance Inventory
Lease
Terminations Other Total
December 31, 2012 Balance
NA/HME ................. 3,747———3,747
IPG...................... —————
Europe ................... 595———595
Asia/Pacific ............... 869 151 1,625 6 2,651
Total ................... $ 5,211 $ 151 $ 1,625 $ 6 $ 6,993
Income Taxes
Earnings (loss) from continuing operations before income taxes consist of the following (in thousands):
2012 2011 2010
Domestic ............................................... $ (21,984) $ (21,635) $ (30,212)
Foreign ................................................. 31,958 12,497 54,156
$ 9,974 $ (9,138) $ 23,944
The company has provided for income taxes (benefits) from continuing operations as follows (in
thousands):
2012 2011 2010
Current:
Federal ............................................... $ (8,043) $ 3,244 $ 4,749
State ................................................. 816 680 329
Foreign ............................................... 21,154 13,008 9,729
13,927 16,932 14,807
Deferred:
Federal ............................................... 3,968 (3,474) (1,696)
Foreign ............................................... 348 (4,078) (771)
4,316 (7,552) (2,467)
Income Taxes ............................................ $ 18,243 $ 9,380 $ 12,340
Included in the 2010 Federal current tax benefit is a benefit of $7,750,000 resulting from the carryback of
the 2008 Federal domestic net operating loss as a result of the Worker, Homeownership and Business Assistance
Act of 2010, which became effective in November of 2010. The deferred tax asset previously recorded by the
company, related to the loss carryforward, was fully offset by a tax valuation allowance. Included in the 2012
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