The Benetton Group Annual Report 1996
The Benetton Group Annual Report 1996
The Benetton Group Annual Report 1996
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Consolidated balance sheet as of December 31, 1995 and <strong>1996</strong><br />
Liabilities and stockholders' equity<br />
A STOCKHOLDERS' EQUITY<br />
(in millions of Lire) (Thousands<br />
of US $) (1)<br />
12/31/95 12/31/96 12/31/96<br />
I Capital stock 87,277 87,277 57,457<br />
II Additional paid-in capital 472,661 472,661 311,166<br />
III Revaluation reserves 45,028 46,202 30,416<br />
IV Legal reserve 17,455 17,455 11,491<br />
V Reserves for treasury shares held - 719 473<br />
VII Other reserves 814,282 950,880 625,991<br />
IX Net income for the year 220,255 245,642 161,713<br />
<strong>Group</strong> interest in stockholders' equity 1,656,958 1,820,836 1,198,707<br />
Minority interests 38,863 24,603 16,197<br />
TOTAL STOCKHOLDERS' EQUITY 1,695,821 1,845,439 1,214,904<br />
B RESERVES FOR RISKS AND CHARGES<br />
2 taxation 7,650 7,926 5,218<br />
3 other 82,151 55,529 36,556<br />
TOTAL RESERVES FOR RISKS AND CHARGES 89,801 63,455 41,774<br />
C RESERVE FOR EMPLOYEE<br />
TERMINATION INDEMNITIES 58,736 62,521 41,159<br />
D ACCOUNTS PAYABLE<br />
1 bonds<br />
- within 12 months - 34,986 23,032<br />
- beyond 12 months 279,527 235,775 155,218<br />
Total bonds 279,527 270,761 178,250<br />
2 convertible bonds repayable beyond 12 months 300 300 197<br />
3 due to banks<br />
- within 12 months 730,024 804,787 529,813<br />
- beyond 12 months 204,069 80,543 53,024<br />
Total due to banks 934,093 885,330 582,837<br />
4 due to other providers of finance<br />
- within 12 months 10,910 13,369 8,801<br />
- beyond 12 months 16,519 15,262 10,048<br />
Total due to other providers of finance 27,429 28,631 18,849<br />
5 advances from customers 2,771 2,975 1,959<br />
6 trade payables 517,298 540,043 355,525<br />
7 securities issued<br />
- within 12 months 10,019 6,055 3,986<br />
- beyond 12 months 1,811 708 466<br />
Total securities issued 11,830 6,763 4,452<br />
8 due to subsidiary companies 2,227 2,523 1,661<br />
9 due to associated companies 385 205 135<br />
11 due to the tax authorities 98,574 48,982 32,246<br />
12 due to social security and welfare institutions 16,441 16,675 10,978<br />
13 other payables<br />
- within 12 months 31,713 28,567 18,806<br />
- beyond 12 months 2,123 1,909 1,257<br />
Total other payables 33,836 30,476 20,063<br />
TOTAL ACCOUNTS PAYABLE 1,924,711 1,833,664 1,207,152<br />
(1) Exchange rate: US $ 1 = Lire 1,519 as of December 31, <strong>1996</strong>.<br />
<strong>The</strong> accompanying notes to consolidated financial statements are an integral part of these consolidated statements.
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