LensCrafters 2015 Annual Report Download - page 197

Notes to the separate financial statements as of December 31, 2015 Page 17 of 77
INFORMATION ON THE STATEMENT OF FINANCIAL POSITION
CURRENT ASSETS
4. CASH AND CASH EQUIVALENTS
Balance at 12/31/2015 Balance at 12/31/2014
223,181,140 390,572,844
This balance represents the cash and cash equivalents held at year end and mostly consists of cash balances on bank
accounts.
Description 12/31/2015
12/31/2014
Cash at banks and post offices 223,177,287 390,567,806
Cash and cash equivalents on hand 3,853 5,038
Total 223,181,140 390,572,844
The value of cash and cash equivalents is in line with their fair value at the reporting date.
There are no restrictions on the use of cash, which is available on request. It is noted that the Company has entered into
an agreement with Kepler Capital Markets SA to enhance the market liquidity of Luxottica Group shares, in compliance
with Consob market practices permitted under Resolution no. 16839 adopted on March 19, 2009 regarding activity to
support market liquidity.
5. ACCOUNTS RECEIVABLE
Balance at 12/31/2015 Balance at 12/31/2014
281,524,719 414,921,845
The year-end balance mostly comprises Euro 260,543,370 in trade receivables from subsidiaries, Euro 25,185,357 in
invoices to be issued to subsidiaries, and Euro 2,518,497 in foreign customer receivables, net of Euro 8,705,607 in
credit notes to be issued to subsidiaries.
The balance includes Euro 7,075,630 in invoices to be issued to Delfin S.à.r.l. to recharge the cost of free treasury
shares granted to employees of the Group's Italian companies in honor of the 80th birthday of its Chairman and
Founder, Mr. Leonardo Del Vecchio.
The Company does not have any receivables for transactions in which substantially all the risks and rewards of
ownership are not transferred.
The Company has not considered it necessary to write down receivables from Group companies since there are no risks
of not collecting them.