LensCrafters 2006 Annual Report Download - page 130

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>130 | ANNUAL REPORT 2006
Certain intangible assets are maintained in currencies other than Euro (the reporting currency) and,
as such, balances may fluctuate due to changes in exchange rates.
Estimated annual amortization expense relating to identifiable assets, including the identifiable
intangibles attributable to recent acquisitions for which the purchase price allocation is not final, is
shown below:
Years ending December 31, (Euro/000)
2007 60,869
2008 51,431
2009 51,429
2010 51,362
2011 51,243
8. INCOME TAXES
Income before provision for income taxes and the provision for income taxes consisted of the
following:
Years ending December 31, (Euro/000) 2004 2005 2006
Income before provision for income taxes
Italian companies 149,479 216,438 251,343
US companies 222,973 244,050 331,035
Foreign companies 72,123 78,821 95,799
Total 444,575 539,309 678,177
Provision for income taxes
•Current
Italian companies 23,194 127,730 157,343
US companies 60,543 120,784 120,681
Foreign companies 27,701 40,855 33,206
Total 111,348 289,369 311,229
•Deferred
Italian companies 9,017 (74,874) (23,016)
US companies 39,377 (14,295) (3,392)
Foreign companies (2,980) (934) (46,065)
Total 45,414 (90,103) (72,473)
Total 156,852 199,266 238,757
The Italian statutory tax rate is the result of two components: national (“IRES”) and regional
(“IRAP”) tax. IRAP could have a substantially different base for its computation than IRES.