LensCrafters 2015 Annual Report Download - page 152

Notes to the consolidated financial statement as of December 31, 2015 Page 58 di 68
Future rental commitments, including contracted rent payments and contingent minimums, are as follows:
(in thousands of Euro)
Year ending December 31
2016 375,141
2017 288,921
2018 225,815
2019 177,958
2020 139,673
Subsequent years 270,276
Total 1,477,785
Other commitments
The Group is committed to pay amounts in future periods for endorsement contracts, supplier purchase and other long-term
commitments. Endorsement contracts are entered into with selected athletes and others who endorse Oakley products. Supplier
commitments have been entered into with various suppliers in the normal course of business. Other commitments mainly
include auto, machinery and equipment lease commitments.
Future minimum amounts to be paid for endorsement contracts and supplier purchase commitments are as follows:
(in thousands of Euro)
Year ending December 31 Endorsement
contracts
Supply
commitments
Other
commitments
2016 10,052 17,556 115,346
2017 6,005 14,998 51,647
2018 1,596 8,497 36,012
2019 603 7,487 11,812
2020 786 5,214 —
Subsequent years —
5,273 —
Total 19,043
59,026 214,817
Guarantees
A wholly-owned U.S. subsidiary guaranteed future minimum lease payments for lease agreements on certain stores. The lease
agreements were signed directly by the franchisees as part of certain franchising agreements. Total minimum guaranteed
payments under this guarantee were Euro 7.8 million (USD 8.5 million) at December 31, 2015 (Euro 3.3 million at
December 31, 2014). The commitments provided for by the guarantee arise if the franchisee cannot honor its financial
commitments under the lease agreements. A liability has been accrued using an expected present value calculation. Such
amount is immaterial to the consolidated financial statements as of December 31, 2015 and 2014. The liability expires at
various dates through October 23, 2025.
Litigation
French Competition Authority Investigation
Our French subsidiaries Luxottica France S.A.S.U., Alain Mikli International S.A.S.U. and Mikli Diffusion France S.A.S.U.,
together with other major competitors in the French eyewear industry, have been the subject of an investigation conducted by
the French Competition Authority (the “FCA”) relating to pricing and sales practices in such industry. The investigation is