Invacare 2015 Annual Report Download - page 87

Download and view the complete annual report

Please find page 87 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-15
Installment receivables by class as of December 31, 2014 consist of the following (in thousands):
Total
Installment
Receivables
Unpaid
Principal
Balance
Related
Allowance
for
Doubtful
Accounts
Interest
Income
Recognized
U.S.
Impaired installment receivables with a
related allowance recorded. . . . . . . . . . . . . . $ 6,735 $ 6,735 $ 5,786 $ —
Canada
Non-Impaired installment receivables with
no related allowance recorded . . . . . . . . . . . 1,008 962 — 82
Impaired installment receivables with a
related allowance recorded. . . . . . . . . . . . . . 66 66 66 —
Total Canadian installment receivables . . . . $ 1,074 $ 1,028 $ 66 $ 82
Total
Non-Impaired installment receivables with
no related allowance recorded . . . . . . . . . . . 1,008 962 — 82
Impaired installment receivables with a
related allowance recorded. . . . . . . . . . . . . . 6,801 6,801 5,852 —
Total installment receivables . . . . . . . . . . . . $ 7,809 $ 7,763 $ 5,852 $ 82
Installment receivables with a related allowance recorded as noted in the table above represent those installment receivables
on a non-accrual basis in accordance with ASU 2010-20. As of December 31, 2015, the company had no U.S. installment receivables
past due of 90 days or more for which the company is still accruing interest. Individually, all U.S. installment receivables are
assigned a specific allowance for doubtful accounts based on management’s review when the company does not expect to receive
both the contractual principal and interest payments as specified in the loan agreement. In Canada, the company had an immaterial
amount of installment receivables which were past due of 90 days or more as of December 31, 2015 and December 31, 2014 for
which the company is still accruing interest.
The aging of the company’s installment receivables was as follows as of December 31, 2015 and 2014 (in thousands):
December 31, 2015 December 31, 2014
Total U.S. Canada Total U.S. Canada
Current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 908 $ — $ 908 $ 976 $ — $ 976
0-30 days past due . . . . . . . . . . . . . . . . . . . . . 16 — 16 15 — 15
31-60 days past due . . . . . . . . . . . . . . . . . . . . 12 — 12 2 — 2
61-90 days past due . . . . . . . . . . . . . . . . . . . . 1 — 1 — — —
90+ days past due. . . . . . . . . . . . . . . . . . . . . . 3,690 3,618 72 6,816 6,735 81
$ 4,627 $ 3,618 $ 1,009 $ 7,809 $ 6,735 $ 1,074
Inventories
Inventories, net of reserves, as of December 31, 2015 and 2014 consist of the following (in thousands):
2015 2014
Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 67,207 $ 85,828
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,005 57,509
Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,595 12,224
$ 132,807 $ 155,561