LensCrafters 2010 Annual Report Download - page 52

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ANNUAL REPORT 2010> 50 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
(thousands of Euro) December 31, 2010 December 31, 2009
CURRENT LIABILITIES:
Short–term borrowings 158,648 148,951
Current portion of long–term debt 197,566 166,279
Accounts payable 537,742 434,604
Income taxes payable 60,067 11,204
Other liabilities 549,280 554,136
Total current liabilities 1,503,303 1,315,174
NON–CURRENT LIABILITIES:
Long–term debt 2,435,071 2,401,796
Liability for termination indemnity 45,363 44,633
Deferred tax liabilities 429,848 396,048
Other liabilities 310,590 350,028
Total non–current liabilities 3,220,872 3,192,505
STOCKHOLDERS’ EQUITY:
Luxottica Group stockholders’ equity 3,256,375 2,737,239
Non–controlling interests 13,029 16,376
Total stockholders’ equity 3,269,404 2,753,615
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 7,993,579 7,261,294
As of December 31, 2010, total assets increased by Euro 732.3 million to Euro 7,993.6 million, compared to Euro 7,261.3
million as of December 31, 2009.
In 2010, non–current assets increased by Euro 301.7 million, due to increases in net intangible assets including goodwill
of Euro 206.7 million, property, plant and equipment – net of Euro 79.2 million, deferred tax assets of Euro 7.6 million,
investments of Euro 7.8 million and other assets of Euro 0.5 million.
The increase in net intangible assets (including goodwill) was primarily due to the positive effects of foreign currency
fluctuations of Euro 287.6 million, partially offset by the amortization for the period of Euro 107.2 million.
The increase in property, plant and equipment was primarily due to positive currency fluctuation effects of Euro 75.0
million and additions during the period of Euro 230.4 million, partially offset by depreciation of Euro 214.9 million for the
period.
As of December 31, 2010, as compared to December 31, 2009:
accounts receivable increased by Euro 37.0 million mainly due to the increase in net sales during 2010, partially offset •
by the improvement in days sales outstanding;