LensCrafters 2015 Annual Report Download - page 190
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Notes to the separate financial statements as of December 31, 2015 Page 10 of 77
12/31/2015 Notes
Financial
assets/liabilities at
fair value through
profit or loss
Loans and
receivables/Debt
Derivatives
Cash and cash equivalents 4
223,181
Accounts receivable 5
281,525
Other current assets 9
454,659
Current derivative financial instruments (assets) 8
1,396
Other non-current assets 14
23,579
Current portion of long-term debt 15
(51,550)
Accounts payable 17
(407,472)
Other current liabilities 20
(664,893)
Current derivative financial instruments (liabilities) 19
(2,054)
Long-term debt 21
(1,092,626)
12/31/2014 Notes
Financial
assets/liabilities at
fair value through
profit or loss
Loans and
receivables/Debt
Derivatives
Cash and cash equivalents 4
390,573
Accounts receivable 5
414,921
Other current assets 9
79,029
Current derivative financial instruments (assets) 8
703
Other non-current assets 14
47,473
Current portion of long-term debt 15
(528,728)
Accounts payable 17
(334,149)
Other current liabilities 20
(56,476)
Current derivative financial instruments (liabilities) 19
(5,121)
Long-term debt 21
(1,118,960)
b) Currency risk
The main foreign exchange rate to which the Company is exposed is the Euro/Dollar rate.
A +/-10% change in the EUR/USD exchange rate, assuming all other variables remain equal, would have increased net
income for 2015 by Euro 1.1 million and decreased it by Euro 1.3 million respectively. The impact of a +/-10%
change on net income for 2014, assuming all other variables remain equal, would have increased it by Euro 8.3 million
and decreased it by Euro 10.1 million respectively.
Default and negative pledge risk
The Company's credit agreements (ING Private Placement 2017-2020) call for compliance with negative pledges and
financial covenants; however, the Company's bond issues (Bond maturing on March 19, 2019, Bond maturing on
February 10, 2024) do not carry any obligations to comply with financial covenants.
The pledges and covenants contained in the credit agreements aim to restrict the Company's ability to use its assets as