Annual Review 2012 - Luxottica

Consolidated financial statements - NOTES
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The net financial position and disclosure required by the Consob communication no.
DEM/6064293 dated July 28, 2006 and by the CESR recommendation dated February
10, 2005 “Recommendation for the consistent application of the European Commission
regulation on Prospectus” is as follows:
Notes As of December 31
(thousands of Euro) 2012 unaudited 2011 audited
A Cash and cash equivalents 6 790,093 905,100
B Other availabilities - -
C Hedging instruments on foreign exchange rates 9 6,048 668
D Availabilities (A + B + C) 796,141 905,768
E Current Investments -
F Bank overdrafts 15 90,284 193,834
G Current portion of long-term debt 16 310,072 498,295
H Hedging instruments on foreign exchange rates 20 681 234
I Hedging instruments on interest rates 20 438 12,168
J Current Liabilities (F + G + H + I) 401,475 704,531
K Net Liquidity (J - E - D) (394,666) (201,237)
L Long-term debt 21 328,882 1,018,337
M Notes payables 21 1,723,225 1,226,246
N Hedging instruments on interest rates 25 - 8,550
O Total Non-Current Liabilities (L + M + N) 2,052,107 2,253,133
P Net Financial Position (K + O) 1,657,441 2,051,896
A reconciliation between the net financial position above and the net financial position
presented in the Management Report is as follows:
As of December 31,
2012 2011
Net Financial Position, as presented in the notes 1,657,441 2,051,896
Hedging instruments on foreign exchange rates 6,048 668
Hedging instruments on interest rates - ST (438) (12,168)
Hedging instruments on foreign exchange rates (681) (234)
Hedging instruments on interest rates - LT - (8,550)
Net Financial Position 1,662,370 2,031,612