ANNUAL REPORT 2004 - Luxottica Group

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Intangible assets - net consisted of the following:
In thousands of Euro
At December 31
LensCrafters trade name, net of accumulated amortization
of Euro 60,252 thousand and Euro 62,565 thousand as of
December 31, 2003 and 2004, respectively (1)
Ray-Ban acquired trade names, net of accumulated
amortization of Euro 62,866 thousand and Euro 76,836
thousand as of December 31, 2003 and 2004, respectively (1)
Sunglass Hut trade name, net of accumulated amortization
of Euro 26,371 thousand and Euro 33,461 thousand as of
December 31, 2003 and 2004, respectively (see Note 4) (1)
OPSM trade names, net of accumulated amortization of
Euro 2,444 thousand and Euro 7,998 thousand as of
December 31, 2003 and 2004, respectively (see Note 4) (1)
Various trade names of the Cole National Group, net of
accumulated amortization of Euro 777 thousand as of
December 31, 2004 (see Note 4) (1)
Distributor network, net of accumulated amortization of Euro
969 thousand as of December 31, 2004 (see Note 4) (2)
Customer list and contracts, net of accumulated
amortization of Euro 701 thousand as of December 31,
2004 (see Note 4) (2)
Other intangibles, net of accumulated amortization of Euro
36,888 thousand and Euro 42,294 thousand as of
December 31, 2003 and 2004, respectively (see Note 4) (3)
Total
120
2003
114,392
216,334
213,368
144,205
-
-
-
76,399
764,698
2004
99,941
202,364
189,614
133,133
68,023
88,173
61,299
129,544
972,091
(1) The LensCrafters, Sunglass
Hut, OPSM and Cole National
trade names are amortized on a
straight-line basis over a period
of 25 years and the Ray-Ban
trade names over a period of 20
years, as the Company believes
these trade names to be finite
lived assets.
(2) Distributor network, customer
contracts and lists, were
identifiable intangibles recorded
in connection with the
acquisition of Cole in 2004.
These assets have a finite life
and are amortized on a straight
line basis ranging between 20
and 23 years. The weighted
average amortization period is of
22.5 years.
(3) Other intangibles consist of
numerous items which include
among other items license
agreements, franchise
agreements, and non compete
agreements. The weighted
average amortization period is
13.7 years.