LensCrafters 2011 Annual Report Download - page 224

ANNUAL REPORT 2011> 148 |
Accounts payable consist of invoices received and not yet paid at the reporting date, in
addition to invoices to be received, accounted for on an accrual basis.
The balance, which is fully payable within 12 months, is detailed below:
 As of December 31
(thousands of Euro) 2011 2010
Accounts payable 452,546 399,353
Invoices to be received 155,781 138,389
Total 608,327 537,742
The carrying value of accounts payable is approximately equal to their fair value.
The balance of income taxes payable is detailed below:
 As of December 31
(thousands of Euro) 2011 2010
Current year income taxes payable fund 59,310 77,425
Income taxes advance payment (19,451) (17,358)
Total 39,859 60,067
OTHER CURRENT LIABILITIES
As of December 31
(thousands of Euro) 2011 2010
Premiums and discounts to suppliers 47,519 27,507
Sales commissions 904 1,135
Leasing rental 23,181 22,370
Insurance 9,893 9,255
Sales taxes payable 31,740 35,994
Salaries payable 204,481 183,559
Due to social security authorities 28,678 26,156
Sales commissions payable 9,733 7,154
Royalties payable 2,218 1,602
Other financial liabilities 164,728 125,858
Total financial liabilities 523,075 440,590
Deferred income 3,626 1,356
Customers’ right of return 31,094 27,744
Advances from customers 47,501 53,835
Other liabilities 27,636 25,755
Total liabilities 109,857 108,690
Total other current liabilities 632,932 549,280
17. ACCOUNTS
PAYABLE
18. INCOME TAXES
PAYABLE
19. OTHER
LIABILITIES