XML 92 R70.htm IDEA: XBRL DOCUMENT v3.20.2
Long-Term Debt Narrative (Details) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Jun. 30, 2019
Jun. 30, 2017
Mar. 31, 2016
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
May 15, 2020
Sep. 30, 2019
Sep. 30, 2017
Dec. 31, 2016
Jun. 30, 2016
Debt Instrument [Line Items]                          
Issuance of warrants         $ 12,376,000                
Payments for Repurchase of Common Stock           $ 1,693,000 $ 860,000            
Amortization of debt fees           $ 942,000 1,225,000            
CARES Act Loan [Member]                          
Debt Instrument [Line Items]                          
Interest rate (as a percent) 1.00%         1.00%              
Unsecured Debt                 $ 10,000,000        
Unsecured Debt, Current $ 1,570,000         $ 1,570,000              
Convertible Subordinated Debt | Convertible Senior Notes at 5.00% November 2024 [Domain]                          
Debt Instrument [Line Items]                          
Debt Instrument, Convertible, Threshold Trading Days           10              
Convertible Subordinated Debt | Convertible Senior Notes at 5.00% November 2024 [Member]                          
Debt Instrument [Line Items]                          
Debt Instrument, Fee Amount   $ 1,394,000           $ 1,394,000          
Debt Instrument, Face Amount $ 72,909,000 $ 72,909,000       $ 72,909,000   $ 72,909,000          
Interest rate (as a percent) 5.00% 5.00%       5.00%   5.00%          
Debt Instrument Repurchase Amount, Cash Paid   $ 6,928,000           $ 6,928,000          
Last Reported Sales Price Period, Common Stock           20 days              
Debt Instrument, Convertible, Threshold Consecutive Trading Days           30              
Percent of the Applicable Conversion Price 130.00%         130.00%              
Business Day Period           5 years              
Percent of the Product of the Last Reported Sale Price, Common Shares 98.00%         98.00%              
Convertible Senior Notes, Percentage of Principal Required for Repurchase 100.00%         100.00%              
Convertible Preferred Stock, Shares Issued upon Conversion 67.6819         67.6819              
Convertible Debt, Conversion Rate of Commmon Shares, Principal $ 1,000         $ 1,000              
Debt Instrument, Convertible, Conversion Price $ 14.78         $ 14.78              
Debt Instrument, Net Carrying Amount $ 61,908,000 60,817,000       $ 61,908,000   60,817,000          
Debt Instrument, Fee Amount (1,170,000) (1,359,000)       (1,170,000)   (1,359,000)          
Debt Instrument, Unamortized Discount $ (9,831,000) (10,733,000)       $ (9,831,000)   (10,733,000)          
Debt Instrument, Interest Rate, Effective Percentage 8.77%         8.77%              
Debt Instrument, Non-Cash Interest Expense Recognized in the Period $ 454,000         $ 902,000              
Debt Instrument, Increase, Accrued Interest 912,000         1,823,000              
Debt Instrument, Loss on Exchange               5,885,000          
Convertible Subordinated Debt | Convertible Senior Notes at 5.00% February 2021 [Member]                          
Debt Instrument [Line Items]                          
Debt Instrument, Fee Amount                       $ 5,966,000  
Debt Instrument, Face Amount $ 25,716,000 61,091,000     150,000,000 $ 25,716,000   61,091,000          
Interest rate (as a percent) 5.00%         5.00%              
Debt Instrument Exchange Amount $ 35,375,000 72,909,000                      
Debt Instrument, Repurchase Amount                   $ 16,000,000      
Last Reported Sales Price Period, Common Stock           20 days              
Debt Instrument, Convertible, Threshold Consecutive Trading Days           30              
Percent of the Applicable Conversion Price 130.00%         130.00%              
Business Day Period           5 years              
Debt Instrument, Convertible, Threshold Trading Days           10              
Percent of the Product of the Last Reported Sale Price, Common Shares 98.00%         98.00%              
Convertible Senior Notes, Percentage of Principal Required for Repurchase 100.00%         100.00%              
Convertible Preferred Stock, Shares Issued upon Conversion 60.0492         60.0492              
Convertible Debt, Conversion Rate of Commmon Shares, Principal $ 1,000         $ 1,000              
Debt Instrument, Convertible, Conversion Price $ 16.65         $ 16.65              
Convertible Debt Conversion Feature, Fair Value at Issuance $ 34,480,000         $ 34,480,000              
Convertible Debt Conversion Feature Gain (Loss) 0   $ (4,504,000)     0 2,210,000            
Convertible due 2021 - Bond Hedge, Fair Value at Issuance 27,975,000         27,975,000              
Convertible Debt Note Hedge Gain (Loss) 0   (3,652,000)     0 2,852,000            
Derivative, Price Risk Option Strike Price                         $ 22.4175
Debt Instrument, Net Proceeds                       144,034,000  
Debt Instrument, Net Carrying Amount 24,644,000 56,628,000       24,644,000   56,628,000          
Debt Instrument, Fee Amount (128,000) (547,000)       (128,000)   (547,000)          
Payments for Repurchase of Common Stock         $ 5,000,000                
Derivative, Amount of Hedged Item                       $ (15,600,000)  
Debt Instrument, Unamortized Discount $ (944,000) (3,916,000)       $ (944,000)   (3,916,000)          
Debt Instrument, Interest Rate, Effective Percentage 11.10%         11.10%              
Debt Instrument, Non-Cash Interest Expense Recognized in the Period $ 682,000   2,162,000     $ 1,506,000 3,947,000            
Debt Instrument, Increase, Accrued Interest 631,000   1,875,000     1,376,000 3,750,000            
Convertible Subordinated Debt | Convertible Senior Notes at 4.50% February 2022 [Domain]                          
Debt Instrument [Line Items]                          
Debt Instrument, Fee Amount       $ 4,711,000                  
Debt Instrument, Face Amount $ 81,500,000 120,000,000       $ 81,500,000   120,000,000     $ 120,000,000    
Interest rate (as a percent) 4.50%         4.50%              
Debt Instrument Exchange Amount $ 38,500,000                        
Last Reported Sales Price Period, Common Stock           20 days              
Debt Instrument, Convertible, Threshold Consecutive Trading Days           30              
Percent of the Applicable Conversion Price 130.00%         130.00%              
Business Day Period           5 years              
Debt Instrument, Convertible, Threshold Trading Days           10              
Percent of the Product of the Last Reported Sale Price, Common Shares 98.00%         98.00%              
Convertible Senior Notes, Percentage of Principal Required for Repurchase 100.00%         100.00%              
Convertible Preferred Stock, Shares Issued upon Conversion 61.6095         61.6095              
Convertible Debt, Conversion Rate of Commmon Shares, Principal $ 1,000         $ 1,000              
Debt Instrument, Convertible, Conversion Price $ 16.23         $ 16.23              
Convertible Debt Conversion Feature, Fair Value at Issuance       28,859,000                  
Convertible Debt Conversion Feature Gain (Loss) $ 0   (2,491,000)     $ 0 6,193,000            
Convertible due 2022 - Bond Hedge, Fair Value at Issuance 24,780,000     $ 24,780,000   24,780,000              
Convertible Debt Note Hedge Gain (Loss) 0   (1,873,000)     0 6,748,000            
Derivative, Price Risk Option Strike Price       $ 21.4375                  
Issuance of warrants       $ 14,100,000                  
Debt Instrument, Net Proceeds       115,289,000                  
Debt Instrument, Net Carrying Amount 71,454,000 101,815,000       71,454,000   101,815,000          
Debt Instrument, Fee Amount (1,163,000) (2,158,000)       (1,163,000)   (2,158,000)          
Derivative, Amount of Hedged Item       $ (10,680,000)                  
Debt Instrument, Unamortized Discount $ (8,883,000) $ (16,027,000)       $ (8,883,000)   $ (16,027,000)          
Debt Instrument, Interest Rate, Effective Percentage 10.90%         10.90%              
Debt Instrument, Non-Cash Interest Expense Recognized in the Period $ 1,323,000   1,404,000     $ 2,783,000 2,718,000            
Debt Instrument, Increase, Accrued Interest 1,220,000   $ 1,350,000     2,570,000 $ 2,700,000            
Convertible Subordinated Debt | Convertible Senior Subordinated Debentures at 5.00% February 2021 [Domain]                          
Debt Instrument [Line Items]                          
Unamortized Financing Costs           721,000              
Convertible Subordinated Debt | Series II Convertible Senior Notes at 5.00% November 2024 [Member]                          
Debt Instrument [Line Items]                          
Debt Instrument, Fee Amount 1,518,000         1,518,000              
Debt Instrument, Face Amount $ 74,129,000         $ 74,129,000              
Interest rate (as a percent) 5.00%         5.00%              
Debt Instrument Exchange Amount $ 73,875,000                        
Debt Instrument Repurchase Amount, Cash Paid $ 5,593,000         $ 5,593,000              
Last Reported Sales Price Period, Common Stock           20 days              
Debt Instrument, Convertible, Threshold Consecutive Trading Days           30              
Percent of the Applicable Conversion Price 130.00%         130.00%              
Debt Instrument, Convertible, Threshold Trading Days           10              
Percent of the Product of the Last Reported Sale Price, Common Shares 98.00%         98.00%              
Convertible Senior Notes, Percentage of Principal Required for Repurchase 100.00%         100.00%              
Convertible Preferred Stock, Shares Issued upon Conversion 67.6819         67.6819              
Convertible Debt, Conversion Rate of Commmon Shares, Principal $ 1,000         $ 1,000              
Debt Instrument, Convertible, Conversion Price $ 14.78         $ 14.78              
Debt Instrument, Net Carrying Amount $ 62,175,000         $ 62,175,000              
Debt Instrument, Fee Amount (1,489,000)         (1,489,000)              
Debt Instrument, Unamortized Discount $ (10,465,000)         $ (10,465,000)              
Debt Instrument, Interest Rate, Effective Percentage 8.99%         8.99%              
Debt Instrument, Non-Cash Interest Expense Recognized in the Period           $ 403,000              
Debt Instrument, Increase, Accrued Interest           $ 277,000              
Debt Instrument, Loss on Exchange $ 6,599,000                        
Convertible Subordinated Debt | Series II Convertible Senior Notes at 5.00% November 2024 [Domain]                          
Debt Instrument [Line Items]                          
Business Day Period           5 years              
Revolving Credit Facility | Line of Credit                          
Debt Instrument [Line Items]                          
Weighted average interest rate (as a percent) 4.64% 4.78%       4.64%   4.78%          
Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Borrowing capacity $ 30,000,000         $ 30,000,000              
Line of Credit, Covenant Compliance, Maximum Borrowing Capacity, Trade Receivables, Europe, Percent           85.00%              
Minimum availability reserve 3,000,000         $ 3,000,000              
Line of Credit Facility, Covenant Feature, Dominion Trigger 3,750,000         3,750,000              
Line of Credit Facility, Remaining Borrowing Capacity 6,059,000         6,059,000              
Remaining borrowing capacity $ 10,000,000         $ 10,000,000              
Minimum required undrawn balance (as a percent) 11.25%         11.25%              
Consecutive business days for minimum undrawn balance           5 days              
Required undrawn balance, minimum $ 3,000,000         $ 3,000,000              
Interruption of material manufacturing facilities, period           10 days              
Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Line of Credit Facility, Fair Value of Amount Outstanding 20,800,000         $ 20,800,000              
Borrowing capacity 60,000,000         60,000,000              
Additional increase in borrowing capacity available 25,000,000         $ 25,000,000              
Percentage of domestic accounts receivable           85.00%              
Percentage of eligible domestic inventory and in-transit inventory           70.00%              
Percentage of net orderly liquidation value of domestic inventory           85.00%              
Maximum value of net orderly liquidation value domestic inventory and in-transit inventory 4,000,000         $ 4,000,000              
Net orderly liquidation value of domestic eligible machinery and equipment           85.00%              
Additional amount of machinery and equipment 0         $ 0              
Percentage of eligible Canadian accounts receivable           85.00%              
Percentage of eligible Canadian inventory           70.00%              
Percentage of net orderly liquidation value of eligible Canadian inventory           85.00%              
Minimum availability reserve 5,000,000         $ 5,000,000              
Line of Credit Facility, Current Borrowing Capacity 20,919,000         20,919,000              
Line of Credit Facility, Covenant Feature, Dominion Trigger $ 7,500,000         $ 7,500,000              
Minimum required undrawn balance (as a percent) 11.25%         11.25%              
Line of Credit, Covenant Compliance, Consecutive Business Days for Undrawn_Balance           5 days              
Required undrawn balance, minimum $ 6,000,000         $ 6,000,000              
Interruption of material manufacturing facilities, period           10 days              
Line of Credit Facility, Foreign Currency Fair Value of Amount Outstanding (France) 2,219,200         $ 2,219,200              
Line of Credit Facility, Foreign Currency Fair Value of Amount Outstanding (UK) 3,702,600         3,702,600              
Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement) | Euro Member Countries, Euro                          
Debt Instrument [Line Items]                          
Line of Credit Facility, Foreign Currency Fair Value of Amount Outstanding (France) 2,000,000         2,000,000              
Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement) | United Kingdom, Pounds                          
Debt Instrument [Line Items]                          
Line of Credit Facility, Foreign Currency Fair Value of Amount Outstanding (UK) 3,000,000         3,000,000              
Letter of Credit                          
Debt Instrument [Line Items]                          
Line of Credit Facility, Fair Value of Amount Outstanding 7,938,000 $ 8,827,000       7,938,000   $ 8,827,000          
Letter of Credit | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Borrowing capacity 5,000,000         5,000,000              
Letter of Credit | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Borrowing capacity 20,000,000         20,000,000              
Swing Line Loans | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Borrowing capacity 2,000,000         2,000,000              
Amount Available to Invacare Limited and Invacare Poirier SAS | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Borrowing capacity $ 15,000,000         $ 15,000,000              
Minimum | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Commitment fee percentage           0.25%              
Minimum | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Commitment fee percentage           0.25%              
Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           2.50%              
Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           2.25%              
Minimum | Base Rate | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           2.50%              
Minimum | Base Rate | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           1.25%              
Maximum | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Commitment fee percentage           0.375%              
Maximum | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Commitment fee percentage           0.375%              
Maximum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           3.00%              
Maximum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           2.75%              
Maximum | Base Rate | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (Europe Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           3.00%              
Maximum | Base Rate | Revolving Credit Facility | Line of Credit | Revolving Credit and Security Agreement (New Credit Agreement)                          
Debt Instrument [Line Items]                          
Basis spread on variable rate           1.75%