LensCrafters 2015 Annual Report Download - page 139

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Notes to the consolidated financial statement as of December 31, 2015 Page 45 di 68
The fair value of long-term debt as of December 31, 2015 was equal to Euro 1,907.1 million (Euro 2,518.5 million as of
December 31, 2014). The fair value of the debt equals the present value of future cash flows, calculated by utilizing the market
rate currently available for similar debt and adjusted in order to take into account the Group’s current credit rating. The above
fair value does not include capital lease obligations of Euro 33.6 million.
Interest accrued and not yet paid of Euro 35.2 million (Euro 39.8 million as of December 31, 2014) is classified under current
liabilities. Interest accrued and not yet paid was classified under non-current liabilities as of December 31, 2014.
Long-term debt, including capital lease obligations, as of December 31, 2015 matures as follows:
(in thousands of Euro)
Year ended December 31 Amount
2016 44,882
2017 103,731
2018 122,825
2019 572,802
2020 and subsequent years 924,938
Effect deriving from the adoption of the amortized cost method (9,193)
Total 1,759,986
The net financial position and disclosure required by the Consob communication n. DEM/6064293 dated July 28, 2006 and by
the CESR recommendation dated February 10, 2005 “Recommendation for the consistent application of the European
Commission regulation on Prospectus” is as follows:
As fo December 31,
(in thousands of Euro) Notes
2015
2014
A Cash and cash equivalents 6 864,852
1,453,587
B Other availabilities —
—
C Hedging instruments on foreign exchange rates 9 2,055
1,008
D Availabilities (A) + (B) + (C) 866,907
1,454,595
E Current Investments
F Bank overdrafts 15 110,450
151,303
G Current portion of long-term debt 16 44,882
626,788
H Hedging instruments on foreign exchange rates 20 2,173
4,376
I Hedging instruments on interest rates 20 —
—
J Current Liabilities (F) + (G) + (H) + (I) 157,505
782,467
K Net Liquidity (J) − (E) − (D) (709,402)
(672,128)
L Long-term debt 21 415
827
M
Notes payables 21 1,690,599
1,666,573
N Hedging instruments on interest rates 24 —
—
O Other non-debt 24,090
21,015
P Total Non-Current Liabilities (L) + (M) + (N) + (O) 1,715,104
1,688,415
Q Net Financial Position (K) + (P) 1,005,702
1,016,287