Invacare 2012 Annual Report Download - page 135

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
The
Company
(Parent)
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Total
(in thousands)
Year ended December 31, 2011
Net sales ..................... $ 379,570 $ 476,614 $ 746,359 $ (100,904) $ 1,501,639
Cost of products sold ........... 276,164 341,945 503,050 (100,664) 1,020,495
Gross Profit ............. 103,406 134,669 243,309 (240) 481,144
Selling, general and administrative
expenses ..................... 131,145 28,317 182,510 54,560 396,532
Charge related to restructuring
activities ..................... 3,854 426 5,977 — 10,257
Loss on debt extinguishment
including debt finance charges and
associated fees ................ 24,200 — — — 24,200
Asset write-downs to intangibles
and investments ............... 5,531 3,592 40,357 — 49,480
Income (loss) from equity
investee ..................... 58,155 3,364 1,523 (63,042) —
Interest expense—net .......... 38 6,350 3,425 — 9,813
Earnings (Loss) from
Continuing Operations
Before Income Taxes ...... (3,207) 99,348 12,563 (117,842) (9,138)
Income taxes (benefit) .......... 906 (244) 8,718 — 9,380
Net Earnings (Loss) from
Continuing Operations .... $ (4,113) $ 99,592 $ 3,845 $ (117,842) $ (18,518)
Net Earnings from
Discontinued Operations . . . — 14,405 — — 14,405
Net Earnings (Loss) ....... $ (4,113) $ 113,997 $ 3,845 $ (117,842) $ (4,113)
Other Comprehensive Income
(Loss), net of Tax ............. 12,245 (2,026) 14,828 (12,802) 12,245
Comprehensive Income
(Loss) ....................... $ 8,132 $ 111,971 $ 18,673 $ (130,644) $ 8,132
FS-55