Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
Annual Review 2012 - Luxottica
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
136 |<br />
ANNUAL REPORT <strong>2012</strong><br />
Write-downs of accounts receivable are determined in accordance with the Group credit<br />
policy described in note 3 “Financial Risks”.<br />
Accruals and reversals of the allowance for doubtful accounts are recorded within selling<br />
expenses in the consolidated statement of income.<br />
The maximum exposure to credit risk, as of the end of the reporting date, was represented<br />
by the fair value of accounts receivable which approximates their carrying amount.<br />
The Group believes that its exposure to credit risk does not call for other guarantees or<br />
credit enhancements.<br />
The table below summarizes the quantitative information required by IFRS 7 based on the<br />
categories of receivables pursuant to Group policies:<br />
(thousands of Euro)<br />
Gross<br />
receivables<br />
Allowance<br />
for doubtful<br />
accounts<br />
December 31, <strong>2012</strong><br />
Maximum<br />
exposure to<br />
credit risk<br />
Amount<br />
of accounts<br />
receivable<br />
overdue but<br />
not included in<br />
the allowance<br />
for doubtful<br />
accounts<br />
Overdue<br />
accounts<br />
receivable not<br />
included in<br />
the allowance<br />
for doubtful<br />
accounts 0 - 30<br />
days overdue<br />
Overdue<br />
accounts<br />
receivable not<br />
included in<br />
the allowance<br />
for doubtful<br />
accounts > 30<br />
days overdue<br />
Receivables of the Wholesale segment<br />
classified as Good 567,162 (9,530) 557,632 62,558 38,215 24,344<br />
Receivables of the Wholesale segment<br />
classified as Good - Under Control 12,224 (2,528) 9,695 3,438 515 2,923<br />
Receivables of the Wholesale segment<br />
classified as RISK 20,071 (18,712) 1,359 1,744 456 1,288<br />
Receivables of the Retail segment 134,398 (4,329) 130,069 13,120 7,446 5,674<br />
Total 733,854 (35,098) 698,755 80,860 46,631 34,229<br />
(thousands of Euro)<br />
Gross<br />
receivables<br />
Allowance<br />
for doubtful<br />
accounts<br />
December 31, 2011<br />
Maximum<br />
exposure to<br />
credit risk<br />
Amount<br />
of accounts<br />
receivable<br />
overdue but<br />
not included in<br />
the allowance<br />
for doubtful<br />
accounts<br />
Overdue<br />
accounts<br />
receivable not<br />
included in<br />
the allowance<br />
for doubtful<br />
accounts 0 - 30<br />
days overdue<br />
Overdue<br />
accounts<br />
receivable not<br />
included in<br />
the allowance<br />
for doubtful<br />
accounts > 30<br />
days overdue<br />
Receivables of the Wholesale segment<br />
classified as Good 524,621 (4,065) 520,556 43,141 27,389 15,752<br />
Receivables of the Wholesale segment<br />
classified as Good - Under Control 25,640 (2,138) 23,502 3,555 1,534 2,021<br />
Receivables of the Wholesale segment<br />
classified as RISK 24,452 (22,602) 1,850 1,688 45 1,643<br />
Receivables of the Retail segment 129,485 (7,154) 122,331 24,172 21,447 2,725<br />
Total 704,198 (35,959) 668,239 72,556 50,415 22,141
Change language