LensCrafters 2011 Annual Report Download - page 217
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| 141 >CONSOLIDATED FINANCIAL STATEMENTS - NOTES
Other assets include the short-term portion of advance payments made to certain designers
for future contracted minimum royalties totaling Euro 29.7 million as of December 31, 2011
(Euro 16.8 million as of December 31, 2010).
Prepaid expense mainly relates to the timing of payments of monthly rental expenses
incurred by the Group’s North America and Asia-Pacific retail divisions.
The net book value of financial assets is approximately equal to their fair value and this
value also corresponds to the maximum exposure of the credit risk. The Group has no
guarantees or other instruments to manage credit risk.