LensCrafters 2015 Annual Report Download - page 196

Notes to the separate financial statements as of December 31, 2015 Page 16 of 77
should differ from that estimated by management, there could be significant effects on both current and deferred
taxes;
• Valuation of goodwill. Goodwill is tested for impairment annually. This calculation requires management to make
subjective judgments based on information available within the Company and on the market, and on past
experience;
• Valuation of finite-life intangible assets (trademarks and other assets). The useful lives and amortization rates of
these assets are reviewed annually;
• Pension plans. The present value of pension liabilities depends on a number of factors that are determined with
actuarial techniques using specific assumptions. These assumptions relate to the discount rate, the expected return
on plan assets, the rate of future salary increases, and mortality and resignation rates. Any change in these
assumptions could have significant effects on pension liabilities.
• Valuation of provisions for risks: determination of the amount of these provisions requires management to make
subjective judgments based on the documentation and information available about potential liabilities.
Employment information. The average number of employees, analyzed by category, has undergone the following
changes since the prior year:
Employees 2015
2014 Change
Senior managers 127 117 10
Staff 837 783 54
Workers 682 645 37
Total 1,646 1,545 101
The national collective labor agreement applied to the Company is that for textile companies - eyewear sector.