Invacare 2013 Annual Report Download - page 34

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I-28
customers deteriorates or the Company’s credit policies are ineffective in reducing the Company’s exposures to credit risk, additional
increases in reserves for uncollectible accounts may be necessary, which could adversely affect the Company’s financial results.
The loss of the services of the Company’s key management and personnel could adversely affect its ability to operate the
Company’s business.
The Company’s future success will depend, in part, upon the continued service of key managerial, research and development
staff and sales and technical personnel. In addition, the Company’s future success will depend on its ability to continue to attract
and retain other highly qualified personnel, including personnel experienced in quality systems and regulatory affairs. If the
Company is not successful in retaining its current personnel or in hiring or retaining qualified personnel in the future, the Company’s
business may be adversely affected. The Company’s future success depends, to a significant extent, on the abilities and efforts of
its executive officers and other members of its management team. If the Company loses the services of any of its management
team, the Company’s business may be adversely affected.
Certain provisions of the Company’s debt agreements, its charter documents, its shareholder rights plan and Ohio law could
delay or prevent the sale or change in control of the Company.
Provisions of the Company’s debt agreements, its charter documents, its shareholder rights plan and Ohio law may make it
more difficult for a third party to acquire, or attempt to acquire, control of the Company even if a change in control would result
in the purchase of shares of the Company at a premium to market price. In addition, these provisions may limit the ability of
shareholders of the Company to approve transactions that they may deem to be in their best interest.
Item 1B. Unresolved Staff Comments.
Not applicable.
Item 2. Properties.
The Company owns or leases its warehouses, offices and manufacturing facilities and believes that these facilities are well
maintained, adequately insured and suitable for their present and intended uses. Information concerning certain leased facilities
of the Company as of December 31, 2013 is set forth in Leases and Commitments in the Notes to the Consolidated Financial
Statements of the Company included in this report and in the table below:
Square
Feet
Ownership
Or Expiration
Date of Lease Renewal
Options Use
North American/HME Operations
Alexandria, Virginia . . . . . . . . . . . . . . . . . 230 September 2014 None Offices
Alpharetta, Georgia. . . . . . . . . . . . . . . . . . 11,665 March 2016 One (2 yr.) Warehouse and Offices
Arlington, Texas . . . . . . . . . . . . . . . . . . . . 63,626 May 2015 One (3 yr.) Warehouse
Atlanta, Georgia . . . . . . . . . . . . . . . . . . . . 91,418 April 2016 One (3 yr.) Warehouse and Offices
Atlanta, Georgia . . . . . . . . . . . . . . . . . . . . 20,000 Month to Month None Warehouse and Offices
Beijing, China. . . . . . . . . . . . . . . . . . . . . . 1,399 January 2015 None Offices
Cranbury, New Jersey. . . . . . . . . . . . . . . . 111,987 April 2018 Two (3 yr.) Warehouse and Offices
Cranbury, New Jersey. . . . . . . . . . . . . . . . 127,963 April 2018 Two (3 yr.) Warehouse and Offices
Elyria, Ohio. . . . . . . . . . . . . . . . . . . . . . . .
—1200 Taylor Street. . . . . . . . . . . . . . . . . 251,656 Own — Manufacturing and Offices
—899 Cleveland Street. . . . . . . . . . . . . . . 100,264 November 2014 None Warehouse
—One Invacare Way. . . . . . . . . . . . . . . . . 50,000 Own — Headquarters
—1320 Taylor Street. . . . . . . . . . . . . . . . . 30,000 January 2015 One (5 yr.) Offices
—1166 Taylor Street. . . . . . . . . . . . . . . . . 4,800 Own — Warehouse and Offices
—56 Ternes Avenue. . . . . . . . . . . . . . . . . 12,001 December 2014 One (1 yr.) Warehouse
Grand Prairie, Texas. . . . . . . . . . . . . . . . . 87,508 August 2015 One (5 yr.) Warehouse and Offices