LensCrafters 2004 Annual Report Download - page 142
Download and view the complete annual report
Please find page 142 of the 2004 LensCrafters annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153
 |
 |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
141
Total royalties and advertising expenses for the years
ended December 31, 2002, 2003 and 2004
aggregated Euro 88.7 million, Euro 64.3 million and
Euro 83.0 million, respectively.
Total payments for royalties and advertising expenses
for the years ended December 31, 2002, 2003 and
2004 aggregated Euro 70.3 million, Euro 124.2 million
and Euro 68.5 million, respectively.
LEASES AND LICENSES
The Company leases through its worldwide
subsidiaries various retail store, plant, warehouse
and office facilities, as well as certain of its data
processing and automotive equipment under
operating lease arrangements expiring between
2005 and 2025, with options to renew at varying
terms. The lease and license arrangements for the
Company’s U.S. retail locations often include
escalation clauses and provisions requiring the
payment of incremental rentals, in addition to any
established minimums contingent upon the
achievement of specified levels of sales volume. In
addition with the acquisition of Cole, the Company
operates departments in various host stores paying
occupancy costs solely as a percentage of sales.
Certain agreements, which provide for the operations
of departments in a major retail chain in the United
States contain short-term cancellation clauses.
Future minimum annual rental commitments for
operating leases are as follows:
Total rent expense under operating leases for each
year ending December 31 is as follows:
2005
2006
2007
2008
2009
Thereafter
Total
31,217
43,757
42,308
33,203
27,952
150,771
329,208
2005
2006
2007
2008
2009
Thereafter
Total
204,436
175,686
140,584
109,174
79,866
168,307
878,053
Minimum rent
Contingent rent
Sublease income
188,889
5,216
(27,546)
166,559
2002
204,406
4,883
(44,739)
164,550
2003
208,134
15,051
(49,247)
173,938
2004
In thousands of Euro
Years ending December 31
In thousands of Euro
Years ending December 31
In thousands of Euro
Years ending December 31