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INVACARE CORPORATION AND SUBSIDIAIRIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
FS-54
CONSOLIDATING CONDENSED BALANCE SHEETS
The
Company
(Parent)
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Total
(in thousands)
December 31, 2014
Assets
Current Assets
Cash and cash equivalents . . . . $ 7,340 $ 355 $ 31,236 $ — $ 38,931
Trade receivables, net. . . . . . . . 50,656 24,560 85,198 — 160,414
Installment receivables, net . . . — 292 762 — 1,054
Inventories, net . . . . . . . . . . . . . 25,272 25,848 107,139 (2,383) 155,876
Deferred income taxes . . . . . . . — — 2,048 — 2,048
Intercompany advances, net . . . 10,007 976 84,816 (95,799) —
Other current assets. . . . . . . . . . 8,134 397 33,123 (4,635) 37,019
Total Current Assets . . . . . 101,409 52,428 344,322 (102,817) 395,342
Investment in Subsidiaries . . . . . . 1,409,482 491,541 — (1,901,023) —
Intercompany Advances, net. . . . . 1,049,235 1,685,366 184,651 (2,919,252) —
Other Assets . . . . . . . . . . . . . . . . . . 16,955 656 1,442 — 19,053
Intangibles . . . . . . . . . . . . . . . . . . . 286 450 37,334 — 38,070
Property and Equipment, net . . . . 29,686 13,051 42,818 — 85,555
Goodwill . . . . . . . . . . . . . . . . . . . . . — 16,660 409,051 — 425,711
Total Assets. . . . . . . . . . . . . . . . . . . $ 2,607,053 $ 2,260,152 $ 1,019,618 $ (4,923,092) $ 963,731
Liabilities and Shareholders’
Equity
Current Liabilities
Accounts payable . . . . . . . . . . . $ 49,040 $ 6,362 $ 64,749 $ — $ 120,151
Accrued expenses . . . . . . . . . . . 52,022 20,900 88,188 (4,635) 156,475
Current taxes, payable and
deferred. . . . . . . . . . . . . . . . . . . 1,632 — 11,002 — 12,634
Intercompany advances, net . . . 81,141 1,738 12,920 (95,799) —
Short-term debt and current
maturities of long-
term obligations . . . . . . . . . . . . — 8 959 — 967
Total Current Liabilities . . 183,835 29,008 177,818 (100,434) 290,227
Long-Term Debt. . . . . . . . . . . . . . . 15,351 6 4,020 — 19,377
Other Long-Term Obligations . . . 28,551 — 60,254 — 88,805
Intercompany Advances, net. . . . . 1,813,994 1,051,170 54,088 (2,919,252) —
Total Shareholders’ Equity. . . . . . 565,322 1,179,968 723,438 (1,903,406) 565,322
Total Liabilities and
Shareholders’ Equity. . . . . . . . . . . $ 2,607,053 $ 2,260,152 $ 1,019,618 $ (4,923,092) $ 963,731