The Benetton Group Annual Report 1996

Consolidated balance sheet as of December 31, 1995 and 1996
Assets
B FIXED ASSETS
I Intangible fixed assets
(in millions of Lire) (Thousands
of US $) (1)
12/31/95 12/31/96 12/31/96
1 start-up and expansion expenses 17,349 11,458 7,543
2 research, development and advertising expenses 867 819 539
3 industrial patents and intellectual property rights 1,021 1,408 927
4 concessions, licenses, trademarks and similar rights 11,289 10,417 6,858
5 goodwill and consolidation differences 18,164 21,516 14,165
6 assets in course of formation and advance payments 3,340 3,101 2,041
7 other intangible fixed assets 22,626 31,789 20,928
Total intangible fixed assets 74,656 80,508 53,001
II Tangible fixed assets
1 real estate 354,687 340,414 224,104
2 plant and machinery 192,883 179,251 118,006
3 industrial and commercial equipment 3,919 5,931 3,904
4 other assets 60,342 60,912 40,100
5 assets under construction and advances to suppliers 6,186 5,758 3,791
Total tangible fixed assets 618,017 592,266 389,905
III Financial fixed assets
1 equity investments in:
(a) subsidiary companies 39,991 39,098 25,740
(b) associated companies 4,253 1,653 1,088
(d) other companies 2,907 2,490 1,639
Total equity investments 47,151 43,241 28,467
2 financial receivables due from:
(a) subsidiaries
- within 12 months 336 - -
- beyond 12 months 749 - -
Total financial receivables due from subsidiaries 1,085 - -
(d) third parties
- within 12 months 10,192 5,223 3,438
- beyond 12 months 34,162 14,976 9,859
Total financial receivables due from third parties 44,354 20,199 13,297
Total financial receivables 45,439 20,199 13,297
3 other securities 130,778 71,042 46,769
Total financial fixed assets 223,368 134,482 88,533
TOTAL FIXED ASSETS 916,041 807,256 531,439
(1) Exchange rate: US $ 1 = Lire 1,519 as of December 31, 1996.
The accompanying notes to consolidated financial statements are an integral part of these consolidated statements.