ANNUAL REPORT 2004 - Luxottica Group

In accordance with U.S. GAAP
(1) Translated for convenience at
the New York City Noon Buying
Rate as determined in Note 1.
INDEPENDENT AUDITORS’ REPORT
STATEMENTS OF CONSOLIDATED CASH FLOWS FOR THE YEARS ENDED
DECEMBER 31, 2002, 2003 AND 2004
(Continued)
Cash flows from financing activities
Long-term debt:
- Proceeds
- Repayments
Use of restricted cash deposit
(Decrease) increase overdraft
balances
Sales of treasury shares
Investment in treasury shares
Exercise of stock options, including
tax benefit
Dividends
Cash (used in) provided by financing
activities
(Decrease) increase in cash and
cash equivalents
Cash and equivalents, beginning of
year
Effect of exchange rate changes on
cash and cash equivalents
Cash and equivalents, end of year
Supplemental disclosure of cash
flows information
Cash paid during the year
for interest
Cash paid during the year
for income taxes
Acquisition of businesses:
Fair value of assets acquired
2002
(Euro thousands)
1,000,714
(1,408,308)
201,106
(21,712)
9,269
(24,547)
13,461
(77,211)
(307,228)
(46,061)
199,202
(1,723)
151,418
58,162
137,650
-
2003
(Euro thousands)
619,859
(332,045)
-
156,290
-
(45,440)
1,743
(95,405)
305,002
163,715
151,418
(15,196)
299,937
44,951
110,609
102,323
2004
(Euro thousands)
1,187,601
(935,443)
-
(246,680)
-
-
6,787
(94,113)
(81,848)
(34,466)
299,937
(8,122)
257,349
58,371
108,440
157,905
2004
(US$ thousands) (1)
1,607,774
(1,266,403)
-
(333,955)
-
-
9,188
(127,410)
(110,806)
(46,660)
406,055
(10,996)
348,399
79,023
146,806
213,772
99