LensCrafters 2015 Annual Report Download - page 218

Notes to the separate financial statements as of December 31, 2015 Page 38 of 77
K Net current financial liabilities (J) - (E) -
(D)
46,218,854 240,527,545 136,015,376 25,989,729 (89,796,522)
L Long-term debt 21 - - 18,959,755 - (18,959,755)
M Notes payable 21 1,091,719,625 - 1,100,000,000 - (8,280,375)
N Other non-current liabilities 21
906,614
- - - 906,614
O Non-current financial liabilities (L) + (M) +
(N)
1,092,626,239 - 1,118,959,755 - (26,333,516)
P Net financial position (K) + (O) 1,138,845,093 240,527,545 1,254,975,131 25,989,729 (116,130,038)
22. LONG-TERM PROVISIONS FOR RISKS AND OTHER CHARGES
Balance at 12/31/2015 Balance at 12/31/2014
738,958 811,790
The balance at December 31, 2015 consists of provisions recognized as a result of events that could give rise to future
liabilities for the Company.
23. EMPLOYEE BENEFITS
The change over the year reflects:
Liability at 01.01.2014 6,495,263
Interest expense 197,878
Actuarial loss (gain) 1,126,205
Transfers from other Group companies 73,945
Benefits paid (426,858)
Liability at 12.31.2014 7,466,433
Interest expense 110,134
Actuarial loss (gain) (498,050)
Transfers from other Group companies 47,558
Benefits paid (248,350)
Liability at 12.31.2015 6,877,725
"Employee benefits" at December 31, 2015 reflect termination indemnities accruing up to December 31, 2006 in respect
of employees on the payroll at that date, net of any advance payments.
The increase is due to this liability's annual inflation related adjustment and changes for employees transferred from
Balance at 12/31/2015 Balance at 12/31/2014
6,877,725 7,466,433