LensCrafters 2005 Annual Report Download - page 124

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NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS | 123 <
6. GOODWILL AND INTANGIBLE ASSETS - NET
The changes in the carrying amount of goodwill for the years ended December 31, 2004 and 2005, are
as follows:
In thousands of Euro Retail segment Wholesale segment Total
Balance as of January 1, 2004 1,014,252 314,662 1,328,914
Acquisitions (a) 265,835 - 265,835
Final purchase price allocation 2,111 (18,745) (16,634)
Change in exchange rates (b) (77,173) 20 (77,153)
Balance as of December 31, 2004 1,205,025 295,937 1,500,962
Acquisitions (a) 71,897 - 71,897
Cole's final purchase price allocation (8,165) - (8,165)
Change in exchange rates (b) 135,729 (40) 135,689
Balance as of December 31, 2005 1,404,486 295,897 1,700,383
(a) Goodwill acquired in 2004 consisted primarily of the retail acquisitions of OPSM and Cole and the wholesale acquisitions of the EID companies and IC Optics. Goodwill
acquired in 2005 consisted primarily of the OPSM minority interest acquisition and some other minor retail acquisitions (See Note 4).
(b) Certain goodwill balances are denominated in currencies other than Euro (the reporting currency) and, as such, balances may fluctuate due to changes in
exchange rates.