LensCrafters 2015 Annual Report Download - page 206

Notes to the separate financial statements as of December 31, 2015 Page 26 of 77
The above depreciation rates were once again reviewed in 2015 to confirm their suitability.
11. INTANGIBLE ASSETS
Overall movements in net intangible assets
Description Balance at
12/31/2014
Increases Decreases Transfers
from (to)
other
categories
Amortization
expense
Balance at
12/31/2015
Trademarks 183,285,013 91,427 - - (22,721,008) 160,655,432
Software 75,629,153 33,835,060 (2,772,834) 5,951,633 (28,589,769) 84,053,243
Assets under
development
10,107,391 7,435,955 - (6,954,300) - 10,589,046
Other 16,939,669 - - - (2,004,955) 14,934,714
Total 285,961,226 41,362,442 (2,772,834) (1,002,667) (53,315,732) 270,232,435
The increases in "Trademarks" entirely refer to costs for their maintenance. The residual value of trademarks at year
end mainly comprises:
• Euro 46,792,680 for the Ray-Ban and Arnette trademarks with a remaining useful life of 9 years;
• Euro 102,319,710 for the OPSM trademarks with a remaining useful life of 12 years and 7 months.
With reference to the OPSM trademarks, the Company has exercised the purchase option under the lease with the
subsidiary Luxottica Leasing, thereby becoming owner of the trademarks with effect from January 1, 2016. The only
remaining liability reported at December 31, 2015 is for the lease payments referring to fourth quarter 2015.
The license agreement with the subsidiary Luxottica Retail Australia PTY Ltd, the sole user of the trademarks in
question, is still in place.
Increases in "Software" mainly refer to the following applications:
• SAP, for Euro 17,345,710, amortized over 7 years;
• Ray-Ban Global eCommerce Platform, for Euro 3,621,352, amortized over 5 years;
• One Click, for Euro 1,603,090, amortized over 3 years;
• Generico 2015, for Euro 1,580,241, amortized over 3 years;
• PACE (Planning Activation for a Collaborative Execution), for Euro 1,378,855, amortized over 3 years;
• Business Intelligence, for Euro 1,337,958, amortized over 3 years;
• Price List, for Euro 893,820, amortized over 3 years;
• NFS New System, for Euro 600,000, amortized over 3 years;
• B2B (Business to Business), for Euro 402,329, amortized over 5 years;
• Global Portal, for Euro 380,880, amortized over 3 years;
Balance at 12/31/2015 Balance at 12/31/2014
270,232,435 285,961,226