LensCrafters 2013 Annual Report Download - page 204
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Footnotes to the statutory financial statements as of December 31, 2013 Page 37 of 71
"Due to subsidiaries" is analyzed as follows:
Subsidiary Nature 12/31/2013
12/31/2012
Luxottica S.r.l. Other liabilities 165,693
352,540
Luxottica Trading & Finance Ltd Sales taxes transferred by subsidiaries 191,458
234,492
Luxottica Trading & Finance Ltd Liabilities - Cash Pooling 102,443,302
225,243,180
Luxottica Leasing S.r.l. Other liabilities -
514,002
Luxottica Italia S.r.l. Other liabilities 3,177
2,742
Sunglass Hut Mexico SA DE CV Other liabilities -
26,166
Sunglass Frames Service, SA CV Other liabilities 28
29
Luxottica Frames S.A. de C.V. Other liabilities 28
29
Total 102,803,686
226,373,180
"Other liabilities" at December 31, 2013 comprise:
Description
2013 2012
Employee wages and salaries 5,605,785
4,523,121
Unused employee holiday pay 6,194,048
5,262,346
Employee bonuses 22,849,005
18,371,374
Other individually immaterial
amounts 3,003,829
3,062,230
Total 37,652,667
31,219,071
Foreign currency liabilities are adjusted to year-end exchange rates and the resulting gains and losses are recognized
in the statement of income as "Gains/losses on currency hedges and foreign currency exchange".
The Company does not have any liabilities relating to transactions in which substantially all the risks and rewards of
ownership are not transferred.