LensCrafters 2015 Annual Report Download - page 212

Notes to the separate financial statements as of December 31, 2015 Page 32 of 77
"Other" deferred tax assets and liabilities mainly comprise foreign exchange differences arising on the valuation of
liabilities and assets respectively.
Deferred tax assets and/or liabilities that will reverse within 12 months have been calculated using the tax rates applying
in 2015: 27.5% in the case of IRES and 5.57% in the case of IRAP.
In the case of deferred tax assets and/or liabilities that will reverse after 12 months, the tax rate of 24%, due to apply
from 2017, has been used for IRES purposes, while the IRAP rate has remained unchanged at 5.57%.
14. OTHER ASSETS
Balance at 12/31/2015 Balance at 12/31/2014
23,578,933 47,472,562
Description 12/31/2014
Increases Decreases 12/31/2015
Advances on royalties 40,109,368 - (19,335,376) 20,773,992
Security deposits 2,168,947 241,684 (8,900) 2,401,731
Long-term loans to subsidiaries 2,029,338 - (2,029,338) -
Long-term loans to third parties 3,164,909 - (2,761,699) 403,210
Total 47,472,562 241,684 (24,135,313) 23,578,933
The decrease in "Advances on royalties" refers to the reclassification from non-current to current assets of the amount
that will be expensed to income in 2016.
The "Long-term loans to subsidiaries" reported at December 31, 2014 referred to a loan to the subsidiary Sunglass Hut
de Mexico SA de CV, reclassified from long to short-term during 2015.