EX-99.3 8 a04-14247_1ex99d3.htm EX-99.3

Exhibit 99.3

 

THE MANITOWOC COMPANY, INC.
AND SUBSIDIARIES

 

Schedule II:  Valuation and Qualifying Accounts
For The Years Ended December 31, 2001, 2002, and 2003
(dollars in thousands)

 

 

 

Balance at
Beginning of
Year

 

Acquisitions
of Business

 

Charged to
Costs and
Expenses

 

Deductions
(1)

 

Balance at
End of Year

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2001

 

 

 

 

 

 

 

 

 

 

 

Allowance for doubtful accounts

 

$

3,037

 

$

6,433

 

$

(816

)

$

(359

)

$

8,295

 

Inventory obsolesence reserve

 

$

9,315

 

$

8,775

 

$

(1,064

)

$

(2,065

)

$

14,961

 

Deferred tax asset valuation allowance

 

$

—

 

$

3,951

 

$

—

 

$

—

 

$

3,951

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2002

 

 

 

 

 

 

 

 

 

 

 

Allowance for doubtful accounts

 

$

8,295

 

$

31,793

 

$

5,147

 

$

(2,079

)

$

43,156

 

Inventory obsolesence reserve

 

$

14,961

 

$

30,668

 

$

5,668

 

$

(7,563

)

$

43,734

 

Deferred tax asset valuation allowance

 

$

3,951

 

$

—

 

$

—

 

$

(1,907

)

$

2,044

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2003

 

 

 

 

 

 

 

 

 

 

 

Allowance for doubtful accounts

 

$

43,156

 

$

2,089

 

$

2,674

 

$

(23,500

)

$

24,419

 

Inventory obsolesence reserve

 

$

43,734

 

$

459

 

$

4,824

 

$

(8,718

)

$

40,299

 

Deferred tax asset valuation allowance

 

$

2,044

 

$

(1,021

)

$

1,271

 

$

(736

)

$

1,558

 

 

(1)  Deductions represent inventories and bad debts written - off, net of recoveries, and the effect of utilization of a portion of the foreign operating loss carryforwards.