LensCrafters 2006 Annual Report Download - page 103

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REPORT OF
INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM |103 <
LIABILITIES AND SHAREHOLDERS’ EQUITY
2005 2006 2006
(Euro/000) (US$/000) (1)
CURRENT LIABILITIES
Bank overdrafts 275,956 168,358 222,182
Current portion of long-term debt 110,978 359,527 474,468
Accounts payable 281,348 349,598 461,364
Accrued expenses:
•Payroll and related 133,576 145,005 191,363
•Customers’ right of return 7,799 17,881 23,598
•Other 245,590 229,713 303,152
Income taxes payable 133,382 155,195 204,811
Liabilities of discontinued operations 47,092 - -
Total current liabilities 1,235,721 1,425,277 1,880,938
LONG-TERM DEBT 1,417,931 959,735 1,266,562
LIABILITY FOR TERMINATION INDEMNITIES 56,600 60,635 80,020
DEFERRED TAX LIABILITIES, NET 116,639 41,270 54,464
OTHER LONG-TERM LIABILITIES 179,120 181,888 240,038
COMMITMENTS AND CONTINGENCIES
MINORITY INTERESTS IN CONSOLIDATED SUBSIDIARIES 13,478 30,371 40,081
SHAREHOLDERS' EQUITY
Capital stock par value Euro 0.06 - 457,975,723
and 460,216,248 ordinary shares authorized
and issued at December 31, 2005 and 2006,
respectively; 451,540,937 and 453,781,462 shares
outstanding at December 31, 2005 and 2006, respectively 27,479 27,613 36,440
Additional paid-in capital 150,179 203,016 267,920
Retained earnings 2,050,883 2,343,800 3,093,113
Unearned stock-based compensation (48,567) - -
Accumulated other comprehensive loss, net of tax (155,954) (288,593) (380,856)
Total 2,024,020 2,285,836 3,016,618
Less treasury shares at cost; 6,434,786 and 6,434,786
shares at December 31, 2005 and 2006, respectively 69,987 69,987 92,362
Total shareholders’ equity 1,954,033 2,215,849 2,924,256
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 4,973,522 4,915,025 6,486,359
(1) Translated for convenience at the New York City Noon Buying Rate as determined in Note 1
See notes to Consolidated Financial Statements.
(*) In accordance with U.S. GAAP.