Obtain LVMH (Moet Hennessy — Louis Vuitton)'s 2013 annual report using the "investor Relations" portion of its website (do a web search for Mott Hennessy — Louis Vuitton investor relations).
Required:
1. What amount of LVMH's 2013 commercial lease expense is considered fixed? Variable?
2. What is the fixed amount of LVMH's operating lease payments coming due within 1 year of December 31, 2013? Between 1 and 5 years?
3. Does LVMH utilize capital leases? What term is used for these leases under IFRS?