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This excerpt taken from the LUX 20-F filed Jun 28, 2006. Pervasiveness
of Estimates—The
preparation of financial statements in conformity with U.S. GAAP requires
management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Significant judgment and estimates
are required in the determination of the valuation allowances against
receivables, inventory and deferred tax assets, calculation of pension and
other long-term employee benefit accruals, legal and other accruals for
contingent liabilities and the determination of the carrying value of
long-lived assets, among other items. Actual results could differ from those
estimates.
This excerpt taken from the LUX 20-F filed Jun 29, 2005. Pervasiveness of Estimates—The
preparation of financial statements in conformity with U.S. GAAP requires
management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of
F-12
contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
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