LensCrafters 2015 Annual Report Download - page 146

Notes to the consolidated financial statement as of December 31, 2015 Page 52 di 68
associates age 50 or older with 5 or more years of service. Benefits for this group are also discontinued at age 65 and the
resulting special termination benefit is immaterial.
The plan liability of Euro 1.1 million and Euro 1.3 million at December 31, 2015 and 2014, respectively, is included in other
non- current liabilities on the consolidated statement of financial position.
The cost of this plan in 2015 and 2014 as well as the 2016 expected contributions are immaterial.
For 2016, a 7.2% (8.0% for 2015) increase in the cost of covered health care benefits was assumed. This rate was assumed to
decrease gradually to 5% for 2024 and remain at that level thereafter. The health care cost trend rate assumption could have a
significant effect on the amounts reported. A 1.0% increase or decrease in the health care trend rate would not have a material
impact on the consolidated financial statements. The weighted-average discount rate used in determining the accumulated
postretirement benefit obligation was 4.5% at December 31, 2015 and 4.2% at December 31, 2014. A 1.0% increase or
decrease in the discount rate would not have a material impact on the postretirement benefit obligation.
23. NON-CURRENT PROVISIONS FOR RISK AND OTHER CHARGES
The balance is detailed below (amounts in thousands of Euro):
(in thousands of Euro) Legal
risk
Self-
insurance
Tax
provision
Other
risks
Total
Balance as of December 31, 2013 9,944
23,481 45,556 18,563 97,544
Increases 4,712 5,287 5,424 1,955 17,378
Decreases (3,683) (7,323) (1,493) (22,575) (35,074)
Business combinations — — — — —
Translation difference and other movements (218)
3,102 (715) 17,207 19,376
Balance as of December 31, 2014 10,755
24,548 48,771 15,149 99,223
Increases 3,734 10,547 4,863 8,365 27,509
Decreases (2,787) (11,093) (386) (10,379) (24,644)
Translation difference and other movements (1,759)
2,919 (17,608) 18,868 2,420
Balance as of December 31, 2015 9,943
26,922 35,640 32,003 104,508
Other risks include (i) accruals for risks related to sales agents of certain Italian companies of Euro 5.8 million
(Euro 5.7 million as of December 31, 2014) and (ii) accruals for decommissioning the costs of certain subsidiaries of the Group
operating in the Retail Segment of Euro 0.5 million (Euro 0.4 million as of December 31, 2014).
The Company is self-insured for certain types of losses (please refer to Note 19 “Short-term Provisions for Risks and Other
Charges” for further details).