Invacare 2015 Annual Report Download - page 125

Download and view the complete annual report

Please find page 125 of the 2015 Invacare annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

INVACARE CORPORATION AND SUBSIDIAIRIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-(Continued)
FS-53
CONSOLIDATING CONDENSED STATEMENTS OF OPERATIONS
The
company
(Parent)
Combined
Guarantor
Subsidiaries
Combined
Non-Guarantor
Subsidiaries Eliminations Total
(in thousands)
Year ended December 31, 2014
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 213,072 $ 413,067 $ 740,669 $ (96,645) $ 1,270,163
Cost of products sold . . . . . . . . . . . . . . . . . 192,566 314,562 512,521 (96,874) 922,775
Gross Profit . . . . . . . . . . . . . . . . . . . . 20,506 98,505 228,148 229 347,388
Selling, general and administrative
expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . 119,904 81,676 182,416 (83) 383,913
Charge related to restructuring activities . . 9,672 (1,326) 2,766 — 11,112
Asset write-downs to intangibles . . . . . . . . — 13,041 — — 13,041
Income (loss) from equity investee . . . . . . 53,536 35,208 280 (89,024) —
Interest expense—net . . . . . . . . . . . . . . . . . 175 2,114 243 — 2,532
Earnings (Loss) from Continuing
Operations Before Income Taxes. . . (55,709) 38,208 43,003 (88,712)(63,210)
Income taxes. . . . . . . . . . . . . . . . . . . . . . . . 361 — 5,189 — 5,550
Net Earnings (Loss) from
Continuing Operations . . . . . . . . . . . (56,070) 38,208 37,814 (88,712)(68,760)
Net Earnings from Discontinued
Operations . . . . . . . . . . . . . . . . . . . . . — 12,690 — — 12,690
Net Earnings (Loss). . . . . . . . . . . . . . (56,070) 50,898 37,814 (88,712)(56,070)
Other Comprehensive Income (Loss),
net of Tax. . . . . . . . . . . . . . . . . . . . . . . . . . (53,537) (5,057)(50,058) 55,115 (53,537)
Comprehensive Income (Loss) . . . . . . . . $ (109,607) $ 45,841 $ (12,244) $ (33,597) $ (109,607)