LensCrafters 2011 Annual Report Download - page 215

| 139 >CONSOLIDATED FINANCIAL STATEMENTS - NOTES
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:
December 31, 2011
(thousands of Euro)
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 570,415 (4,065) 566,350 43.141 27,389 15,752
Receivables of the Wholesale segment
classified as GOOD – Under Control 25,640 (2,138) 23,502 3,555 1,534 2,021
Receivables of the Wholesale segment
classified as RISK 24,452 (22,602) 1,851 1,688 45 1,643
Receivables of the Retail segment 129,485 (7,154) 122,331 24,172 21,447 2,725
Total 749,992 (35,959) 714,033 72,556 50,415 22,141
December 31, 2010
(thousands of Euro)
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
As of December 31, 2011, the amount of overdue receivables which were not included
in the bad debt fund was equal to 9.7 percent of gross receivables (9.6 percent as of
December 31, 2010) and 10.2 percent of receivables net of the bad debt fund (10.1 percent
as of December 31, 2010). The Group does not expect any additional losses over amounts
already provided for.