LensCrafters 2015 Annual Report Download - page 121

Notes to the consolidated financial statement as of December 31, 2015 Page 27 di 68
(in thousands of Euro)
Manufacturing
and Wholesale
Distribution
Retail
Distribution
Inter-segment
transactions and
corporate
adjustments
(c)
Consolidated
2015
Net sales
(a)
3,592,555 5,244,023 — 8,836,578
Income from operations
(b)
807,213 789,355 (220,123) 1,376,445
Interest income — — — 11,190
Interest expense — — — (106,439)
Other-net — — — (3,281)
Income before provision for income taxes — — — 1,277,914
Provision for income taxes — — — (471,042)
Net income — — — 806,873
Of which attributable to:
Luxottica stockholders — — — 804,119
Non-controlling interests — — — 2,753
Capital expenditures 211,023 302,552 — 513,575
Depreciation,amortization and write-down 157,081 231,056 88,751 476,888
2014
Net sales
(a)
3,193,757 4,458,560 — 7,652,317
Income from operations
(b)
724,539 636,282 (203,208) 1,157,613
Interest income — — — 11,672
Interest expense — — — (109,659)
Other-net — — — 455
Income before provision for income taxes — — — 1,060,080
Provision for income taxes — — — (414,066)
Net income — — — 646,014
Of which attributable to:
Luxottica stockholders — — — 642,596
Non-controlling interests — — — 3,417
Capital expenditures 175,573 243,360 — 418,933
Depreciation, amortization and write-down 123,268 181,625 79,103 383,996
(a) Net sales of both the Manufacturing and Wholesale Distribution segment and the Retail Distribution segment include sales to
third-party customers only.
(b) Income from operations of the Manufacturing and Wholesale Distribution segment is related to net sales to third-party customers
only, excluding the “manufacturing profit” generated on the inter-company sales to the Retail Distribution segment. Income from
operations of the Retail Distribution segment is related to retail sales, considering the cost of goods acquired from the
Manufacturing and Wholesale Distribution segment at manufacturing cost, thus including the relevant “manufacturing profit”
attributable to those sales.
(c) Inter-segment transactions and corporate adjustments include corporate costs not allocated to a specific segment and amortization
of acquired intangible assets not allocated to a specific segment, as well as elimination of transactions between segments.
Information by geographic area
The geographic segments include Europe, North America (which includes the United States of America, Canada and Caribbean
islands), Asia-Pacific (which includes Australia, New Zealand, China, Hong Kong, Singapore and Japan), Latam (which
includes South and Central America) and Other (which includes all other geographic locations, including the Middle East).
Sales are attributed to geographic segments based on the customer’s location, whereas long-lived assets, net are the result of the
combination of legal entities located in the same geographic area.