Invacare 2012 Annual Report Download - page 138

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INVACARE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
CONSOLIDATING CONDENSED BALANCE SHEETS
The
Company
(Parent)
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Total
(in thousands)
December 31, 2011
Assets
Current Assets
Cash and cash equivalents ....$ 3,642 $ 2,104 $ 29,178 $ — $ 34,924
Trade receivables, net ........ 83,522 36,578 90,291 — 210,391
Installment receivables, net . . . — 1,180 5,491 — 6,671
Inventories, net ............. 45,937 25,295 99,006 (1,518) 168,720
Deferred income taxes ....... 422 45 1,153 — 1,620
Other current assets ......... 10,171 528 33,812 (5,680) 38,831
Assets held for sale - current . . — 67,613 — — 67,613
Total Current Assets ..... 143,694 133,343 258,931 (7,198) 528,770
Investment in subsidiaries ....... 1,560,693 524,800 — (2,085,493) —
Intercompany advances, net ..... 79,598 846,829 200,157 (1,126,584) —
Other Assets .................. 40,813 699 1,136 — 42,648
Other Intangibles .............. 821 26,838 55,661 — 83,320
Property and Equipment, net .... 45,459 16,398 66,483 — 128,340
Goodwill ..................... — 31,820 441,711 — 473,531
Assets held for sale -
non-current ................... — 24,445 — — 24,445
Total Assets ...................$ 1,871,078 $ 1,605,172 $ 1,024,079 $ (3,219,275) $ 1,281,054
Liabilities and Shareholders’
Equity
Current Liabilities
Accounts payable ...........$ 73,948 $ 5,724 $ 56,779 $ — $ 136,451
Accrued expenses ........... 37,708 17,136 79,529 (5,680) 128,693
Accrued income taxes ........ 508 (680) 987 — 815
Short-term debt and current
maturities of long-
term obligations ............ 4,210 4 830 — 5,044
Liabilities held for sale -
current .................... — 16,936 — — 16,936
Total Current Liabilities . . 116,374 39,120 138,125 (5,680) 287,939
Long-Term Debt ............... 252,855 227 7,358 — 260,440
Other Long-Term Obligations . . . 47,873 7,312 50,965 — 106,150
Liabilities held for
sale - non-current .............. — — — — —
Intercompany advances, net ..... 827,451 210,005 89,128 (1,126,584) —
Total Shareholders’ Equity ...... 626,525 1,348,508 738,503 (2,087,011) 626,525
Total Liabilities and
Shareholders’ Equity ...........$ 1,871,078 $ 1,605,172 $ 1,024,079 $ (3,219,275) $ 1,281,054
FS-58