LensCrafters 2012 Annual Report Download - page 222
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ANNUAL REPORT 2012> 136 |
Write-downs of accounts receivable are determined in accordance with the Group credit
policy described in note 3 “Financial Risks”.
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:
December 31, 2012
(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 567,162 (9,530) 557,632 62,558 38,215 24,344
Receivables of the Wholesale segment
classified as GOOD - Under Control 12,224 (2,528) 9,695 3,438 515 2,923
Receivables of the Wholesale segment
classified as RISK 20,071 (18,712) 1,359 1,744 456 1,288
Receivables of the Retail segment 134,398 (4,329) 130,069 13,120 7,446 5,674
Total 733,854 (35,098) 698,755 80,860 46,631 34,229
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 524,621 (4,065) 520,556 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) 1,850 1,688 45 1,643
Receivables of the Retail segment 129,485 (7,154) 122,331 24,172 21,447 2,725
Total 704,198 (35,959) 668,239 72,556 50,415 22,141