LensCrafters 2015 Annual Report Download - page 188

Notes to the separate financial statements as of December 31, 2015 Page 8 of 77
• uses different sources of bank financing, but also keeps a reserve of liquidity for promptly satisfying cash needs;
• takes part in a cash pooling system which helps manage the Group's cash flows more efficiently, by preventing the
dispersion of liquidity and minimizing borrowing costs;
• monitors, through the Treasury department, forecasts as to how liquidity reserves will be used, based on cash flow
projections.
Analysis of the principal financial assets and financial liabilities:
The following tables analyze the maturity of assets and liabilities as of December 31, 2015 and December 31, 2014.
The figures presented are contractual undiscounted amounts. With reference to foreign exchange forwards, the asset
tables report only those cash flows relating to the obligation to receive, which will be offset by the obligation to pay,
reported in the liability tables. Cash flows relating to interest rate swaps refer to the settlement of the positive or
negative interest differentials maturing in the different periods. The various maturity bands are determined according
to the period running from the reporting date to the contractual maturity of the receipt or payment obligations.
Balances maturing within 12 months approximate the carrying amount of the related liabilities since the effect of
present value discounting is insignificant.
- Maturity of assets
(in thousands of Euro)
At December 31, 2015 Within
1 year
From
1 to 3 years
From
3 to 5 years
Beyond
5 years
Cash and cash equivalents 223,181
Derivative financial instruments 1,396
Accounts receivable 281,525
Other current assets 473,188
At December 31, 2014 Within
1 year
From
1 to 3 years
From
3 to 5 years
Beyond
5 years
Cash and cash equivalents 390,572
Derivative financial instruments 703
Accounts receivable 414,922
Other current assets 99,586
- Maturity of liabilities
(in thousands of Euro )
At December 31, 2015 Within
1 year
From
1 to 3 years
From
3 to 5 years
Beyond
5 years
Long-term and short-term debt (*) 50,407 50,000 550,000 500,000
Finance lease liabilities 1,142
907
Derivative financial instruments 2,054
Accounts payable 407,472
Other current liabilities 664,893
(*) Excludes the effect of amortized cost of Euro (8.2) million.