LensCrafters 2013 Annual Report Download - page 203

Footnotes to the statutory financial statements as of December 31, 2013 Page 36 of 71
18. INCOME TAXES PAYABLE
Balance at 12/31/2013 Balance at 12/31/2012
18,426,150 77,634,705
"Income taxes payable" report only specific, known liabilities for tax under the national group tax consolidation.
The change in this balance is due to the fact that higher advance tax payments were made in 2013 than in 2012.
19. DERIVATIVE FINANCIAL INSTRUMENTS
Balance at 12/31/2013 Balance at 12/31/2012
489,945 1,976,561
The balance at December 31, 2013 is comprised of Euro 348,302 for the fair value of 19 third party derivative
forward contracts and of Euro 141,643 of the fair value of intercompany derivative forward contracts .
Further information can be found in the second paragraph of the section on "Derivative financial instruments".
20. OTHER LIABILITIES
Balance at 12/31/2013 Balance at 12/31/2012
145,501,870 261,770,834
Other liabilities are stated at their nominal value and are summarized by maturity as follows:
2013 Within
12 months
Beyond
12 months
Beyond
5 years
Total
Social security payable 5,045,517 5,045,517
Due to subsidiaries 102,803,686 102,803,686
Other liabilities 37,652,667 37,652,667
Total 145,501,870 145,501,870
2012
Within
12 months
Beyond
12 months
Beyond
5 years
Total
Social security payable 4,178,583 4,178,583
Due to subsidiaries 226,373,180 226,373,180
Other liabilities 31,219,071 31,219,071
Totale 261,770,834 261,770,834
"Social security payable" refers to Euro 3,306,682 in amounts due to INPS (Italian social security agency), with the
remainder relating to amounts owed to alternative pension funds.