2006 - Interparfums

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1.22 Disclosures about related parties The accounts of Inter Parfums and its subsidiaries Inter Parfums Trademark, Inter Parfums Grand Public and Nickel, through Inter Parfums Holding, are all fully consolidated into the accounts of Inter Parfums Inc., whose registered office is located at 551 Fifth Avenue, New York, NY 10176 USA, United-States. No material commercial transactions exist between Inter Parfums S.A. and Inter Parfums Inc. 2006 annual report inter parfums notes to the consolidated financial statements 2. principles of presentation 2.1 Presentation of the income statement The consolidated financial statements of the company are presented according to function. Under this presentation, expenses and income are broken down by function (cost of sales, selling expenses, administrative expenses) rather than the nature of the origin of expenses and income. 2.2 Presentation of the balance sheet The balance sheet of 31 December is presented based on a classification between current and non-current liabilities.
3. notes to the balance sheet 3.1 Trademarks and other intangible assets. In € thousands 12/31/05 + - 12/31/06 Cost Molyneux trademark 2,591 - (2,591) - Molyneux non-compete agreements 486 - (486) - Nickel trademark 2,133 - - 2,133 S.T. Dupont upfront license fee 869 350 - 1,219 Lanvin upfront license fee 16,450 - - 16,450 Burberry upfront license fee 3,000 2,000 - 5,000 Van Cleef & Arpels upfront license fee - 18,250 - 18,250 Quiksilver acquisition cost - 300 - 300 Rights on molds for bottles 6,460 1,062 (77) 7,445 Other 296 114 - 410 Total cost 32,285 22,076 (3,154) 51,207 Amortization and depreciation Molyneux trademark (1,668) - 1,668 - Molyneux non-compete agreements (373) (16) 389 - S.T. Dupont upfront license fee (672) (143) - (815) Lanvin upfront license fee (1,634) (1,097) - (2,731) Burberry upfront license fee (376) (300) - (676) Rights on molds for bottles (5,079) (790) 77 (5,792) Quiksilver acquisition cost - (19) - (19) Other (216) (54) - (270) Total amortization and depreciation (10,018) (2,419) 2,134 (10,303) Total net 22,267 19,657 (1,020) 40,904 Molyneux trademark The Molyneux trademark was sold in June 2006 to Parfums Berdoues. This sale did not have a material impact on the financial statements. Nickel trademark The Nickel trademark, acquired on April 1, 2004, was revalued on December 31, 2006 using the discounted cash flow method. No impairment was recorded. S.T. Dupont upfront license fee The upfront license fee of €869,000 is amortized over 11 years as of July 1, 1997. In March 2006, an additional license fee of €350,000 was paid to be amortized over the remaining term of the license agreement. Lanvin upfront license fee The upfront license fee of €16 million is amortized over 15 years from the date of acquisition on July 1, 2004. Burberry upfront license fee The upfront license fee of €3 million is amortized over 12 years as of July 1, 2004. In September 2006, an additional license fee of €2 million was paid to be amortized over the remaining term of the license agreement. Van Cleef & Arpels license fee agreement In 2006, the Van Cleef & Arpels and Inter Parfums groups signed a worldwide license agreement to manufacture and distribute perfumes and anciliary products under the Van Cleef & Arpels brand name with a 12-year term as of January 2007. And upfront license fee of €18 million is amortized over the term of the agreement. Rights on molds for bottles Rights on molds for bottles are amortized over 5 years. Design costs are amortized over 3 years. 71
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51.7 non- current assets 127.5 curr
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Since it was listed on the EuroNext
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Fiscal 2006 represented another maj
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P H Y A portfolio of prestigious in
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The creation and marketing of each
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Page 26 and 27: Éclat d’Arpège 2002 2006 annual
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Page 36 and 37: 2006 was a banner year for Burberry
Page 38 and 39: international markets accounting fo
Page 40 and 41: T H E M A R K E T new growthin thes
Page 42 and 43: sustainable development social resp
Page 44 and 45: OPERATING ORGANIZATION AT MARCH 1,
Page 47 and 48: team spirit, motivation and commitm
Page 49 and 50: to hedge its exposure from operatio
Page 51 and 52: 1. corporate governance Inter Parfu
Page 53 and 54: 2. management committee Mission The
Page 55 and 56: The system of monthly reporting imp
Page 57 and 58: control to obtain a description of
Page 59 and 60: Directors’ fees Directors fees ar
Page 61 and 62: 2. Information on options granted t
Page 63 and 64: CONSOLIDATED INCOME STATEMENT In
Page 65 and 66: Shareholders’ equity and liabilit
Page 67 and 68: STATEMENT OF CASH FLOWS In € thou
Page 69 and 70: 1. accounting principles 1.1 Genera
Page 71: At the end of every year, these sta
Page 75 and 76: 3.7 Marketable securities and fixed
Page 77 and 78: 3.12 Deferred tax Deferred taxes ar
Page 79 and 80: 4.4 Administrative expenses In €
Page 82 and 83: shareholder information statutory I
Page 84 and 85: 2. capital stock 1. Three-year hist
Page 86 and 87: 3. resolutions submitted to the com
Page 88 and 89: The purpose of this authorization i
Page 90 and 91: - charge all costs to paid-in capit
Page 92: completion of the capital reduction
Page 95 and 96: 1. Auditors The statutory auditors
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