LensCrafters 2010 Annual Report Download - page 149
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|147 >
NOTES TO THE
CONSOLIDATED
FINANCIAL
STATEMENTS
Accruals and reversals of the allowance for doubtful accounts are recorded within selling expenses in the consolidated
statement of income.
The maximum exposure to credit risk, as of the end of the reporting date, was represented by the fair value of accounts
receivable which approximates their carrying amount.
The Group believes that its exposure to credit risk does not call for other guarantees or credit enhancements.
The table below summarizes the quantitative information required by IFRS 7 based on the categories of receivables
pursuant to Group policies:
(thousands of Euro)
December 31, 2010
Gross
receivables
Allowance
for doubtful
accounts
Maximum
exposure to
credit risk
Amount of
accounts
receivable
overdue but
not included in
the allowance
for doubtful
accounts
Overdue
accounts
receivable not
included in
the allowance
for doubtful
accounts 0–30
days overdue
Overdue
accounts
receivable not
included in
the allowance
for doubtful
accounts > 30
days overdue
Receivables of the Wholesale
segment classified as Good 543,690 (5,753) 537,937 46,295 30,628 15,668
Receivables of the Wholesale
segment classified as Good –
Under control 26,734 (1,822) 24,912 6,385 1,304 5,082
Receivables of the Wholesale
segment classified as Risk 24,485 (19,773) 4,712 3,179 98 3,081
Receivables of the Retail segment 94,351 (6,020) 88,331 10,405 6,441 3,964
Total 689,260 (33,368) 655,892 66,265 38,470 27,794
(thousands of Euro)
December 31, 2009
Gross
receivables
Allowance
for doubtful
accounts
Maximum
exposure to
credit risk
Amount of
accounts
receivable
overdue but
not included in
the allowance
for doubtful
accounts
Overdue
accounts
receivable not
included in
the allowance
for doubtful
accounts 0–30
days overdue
Overdue
accounts
receivable not
included in
the allowance
for doubtful
accounts > 30
days overdue
Receivables of the Wholesale
segment classified as Good 529,433 – 529,433 52,940 30,538 22,402
Receivables of the Wholesale
segment classified as Good –
Under control 13,423 1,433 11,990 3,897 830 3,067
Receivables of the Wholesale
segment classified as Risk 23,518 23,466 52 – – –
Receivables of the Retail segment 83,447 6,038 77,409 13,030 205 12,825
Total 649,821 30,937 618,884 69,867 31,573 38,294