Nautilus 2007 Annual Report Download - page 50

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Table of Contents
3. INVENTORIES, net
Inventories, net consisted of the following at December 31:
4. PROPERTY, PLANT AND EQUIPMENT, net
Property, plant and equipment, net included the following at December 31:
Construction in process consists of capitalizable costs associated with tooling being developed for new products and internally developed
software that are not yet in service. Capitalized interest was not material for the years ended December 31, 2007, 2006 and 2005.
In 2006, as part of the plan to consolidate its production facilities for the cardiovascular line of equipment, the Company concluded its operations
at its manufacturing facility in Tyler, Texas and started transitioning manufacturing of key products to other U.S. and Asian manufacturing
facilities. At December 31, 2007, the facility and all related assets of $1.7 million were for sale and have been classified as “Assets held for sale”
in the Company’s balance sheet.
The Company sold its building located in Louisville, Colorado in the fourth quarter of 2007 for $6.3 million and deferred the gain on the sale of
$0.3 million into the second quarter of 2008 when the Company anticipates exiting the building.
Depreciation expense was $13.0 million, $14.1 million and $14.2 million, in fiscal 2007, 2006 and 2005, respectively.
47
(In thousands)
2007
2006
Finished goods
$
39,143
$
37,301
Work
-
in
-
process
1,261
1,012
Parts and components
8,422
7,796
Raw materials
10,084
9,439
Inventories, net
$
58,910
$
55,548
(In thousands)
Estimated
Useful Life
(in years)
2007
2006
Land
N/A
$
359
$
1,283
Buildings and improvements
5 to 31.5
20,451
25,480
Computer equipment
2 to 5
46,259
42,299
Machinery and equipment
3 to 5
28,031
26,144
Furniture and fixtures
5
4,423
4,522
Construction in process
N/A
2,441
1,352
Total property, plant and equipment
101,964
101,080
Accumulated depreciation
(59,673
)
(49,660
)
Property, plant and equipment, net
$
42,291
$
51,420