ANNUAL REPORT 2004 - Luxottica Group
ANNUAL REPORT 2004 - Luxottica Group
ANNUAL REPORT 2004 - Luxottica Group
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In accordance with U.S. GAAP<br />
In thousands of Euro, unless<br />
otherwise indicated<br />
Balances, January 1, 2002<br />
Exercise of stock options<br />
Translation adjustment<br />
Minimum pension liability,<br />
less taxes of Euro 15.8 million<br />
Tax benefit on stock options<br />
Sale of treasury shares, net<br />
of taxes of Euro 5.5 million<br />
Purchase of treasury shares<br />
Change in fair value of derivative<br />
instruments, net of taxes of Euro 3.6 million<br />
Dividends declared (Euro 0.17 per share)<br />
Net income<br />
Comprehensive income<br />
Balances, December 31, 2002<br />
Exercise of stock options<br />
Translation adjustment<br />
Minimum pension liability,<br />
net of taxes of Euro 0.7 million<br />
Tax benefit on stock options<br />
Purchase of treasury shares<br />
Change in fair value of derivative<br />
instruments, net of taxes of Euro 0.4 million<br />
Dividends declared (Euro 0.21 per share)<br />
Net income<br />
Comprehensive income<br />
Balances, December 31, 2003<br />
Exercise of stock options<br />
Translation adjustment<br />
Minimum pension liability, net<br />
of taxes of Euro 0.2 million<br />
Tax benefit on stock options<br />
Change in fair value of derivative<br />
instruments, net of taxes of Euro 0.2 million<br />
Dividends declared (Euro 0.21 per share)<br />
Net income<br />
Comprehensive income<br />
Balances, December 31, <strong>2004</strong><br />
Comprehensive income (US$/000) (1)<br />
Balances, December 31, <strong>2004</strong><br />
(US$ thousands)<br />
STATEMENTS OF CONSOLIDATED SHAREHOLDERS’ EQUITY<br />
Shares<br />
452,865,817<br />
1,397,783<br />
454,263,600<br />
213,433<br />
454,477,033<br />
728,440<br />
455,205,473<br />
455,205,473<br />
Common stock<br />
Amount<br />
27,172<br />
84<br />
27,256<br />
13<br />
27,269<br />
43<br />
27,312<br />
36,975<br />
Additional<br />
paid-in<br />
capital<br />
18,381<br />
9,483<br />
3,894<br />
6,935<br />
38,693<br />
1,476<br />
254<br />
40,423<br />
5,950<br />
794<br />
47,167<br />
63,855<br />
Retained<br />
earnings<br />
1,152,508<br />
(77,211)<br />
372,077<br />
1,447,374<br />
(95,405)<br />
267,343<br />
1,619,312<br />
(94,113)<br />
286,874<br />
1,812,073<br />
2,453,184<br />
Other<br />
comprehensive<br />
income (loss)<br />
net of tax<br />
(202,357)<br />
(26,569)<br />
10,929<br />
372,077<br />
154,080<br />
(169,307)<br />
(1,228)<br />
(1,067)<br />
267,343<br />
95,741<br />
(79,897)<br />
248<br />
1,174<br />
286,874<br />
208,399<br />
282,131<br />
Accumulated<br />
other comprehensive<br />
income<br />
(loss) net of tax<br />
147,116<br />
(202,357)<br />
(26,569)<br />
10,929<br />
(70,881)<br />
(169,307)<br />
(1,228)<br />
(1,067)<br />
(242,483)<br />
(79,897)<br />
248<br />
1,174<br />
(320,958)<br />
(434,513)<br />
INDEPENDENT AUDITORS’ <strong>REPORT</strong><br />
Treasury<br />
shares amount,<br />
at cost<br />
(2,334)<br />
2,334<br />
(24,547)<br />
(24,547)<br />
(45,440)<br />
(69,987)<br />
(69,987)<br />
(94,748)<br />
Consolidated<br />
shareholders’<br />
equity<br />
(1,342,843)<br />
9,567<br />
(202,357)<br />
(26,569)<br />
3,894<br />
9,269<br />
(24,547)<br />
10,929<br />
(77,211)<br />
372,077<br />
1,417,895<br />
1,489<br />
(169,307)<br />
(1,228)<br />
254<br />
(45,440)<br />
(1,067)<br />
(95,405)<br />
267,343<br />
1,374,534<br />
5,993<br />
(79,897)<br />
248<br />
794<br />
1,174<br />
(94,113)<br />
286,874<br />
1,495,607<br />
2,024,753<br />
97
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