LensCrafters 2015 Annual Report Download - page 124

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Notes to the consolidated financial statement as of December 31, 2015 Page 30 di 68
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:
(in thousands of Euro)
December 31, 2015 Gross
receivables
Allowance for
doubtful
accounts
Maximum
exposure to
credit risk
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 643,326
(5,785)
637,541
64,961
33,033
31,928
Receivables of the Wholesale
segment classified as
GOOD—UNDER CONTROL
15,273
(1,055)
14,218
1,221
542
679
Receivables of the Wholesale
segment classified as RISK
27,035
(23,994)
3,041
2,230
65
2,165
Receivables of the Retail
segment 209,921
(6,667)
203,254
20,042
10,368
9,962
Total 895,555
(37,501)
858,053
88,454
44,008
44,734
(In thousands of Euro)
December 31, 2014 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 587,109
(5,516)
581,593
43,537
29,519
14,018
Receivables of the Wholesale
segment classified as
GOOD—UNDER CONTROL
11,902
(1,590)
10,312
1,820
319
1,501
Receivables of the Wholesale
segment classified as RISK
28,797
(26,016)
2,781
1,650
117
1,533
Receivables of the Retail
segment 165,402
(5,782)
159,620
16,082
11,586
4,497
Total 793,210
(38,904)
754,306
63,089
41,541
21,549
The accounts receivable in the retail division are mainly related to the insurance business of the Group.