LensCrafters 2010 Annual Report Download - page 66
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ANNUAL REPORT 2010> 64 | APPENDIX
RECONCILIATION BETWEEN PARENT COMPANY NET INCOME AND STOCKHOLDERS’ EQUITY AND
CONSOLIDATED NET INCOME AND STOCKHOLDERS’ EQUITY
(thousands of Euro)
Net income
December 31, 2010
Stockholders’ equity
December 31, 2010
Parent company financial statements 294,252 1,803,318
Elimination of intragroup dividends (346,978) –
Trademarks and other intangible assets (net of tax effect) (43,417) (758,546)
Elimination of internal profits on inventories (net of tax effect) (21,462) (106,381)
Difference between value of investments in consolidated companies
and related share of stockholders’ equity – 2,328,609
Net income of consolidated companies 524,241 –
Other consolidation adjustments 622 2,404
Minority interests (5,072) (13,029)
Consolidated financial statements 402,187 3,256,375
NON–IAS/IFRS MEASURES
We use in this Management Report on the consolidated financial statements as of December 31, 2010 certain performance
measures that are not in accordance with IAS/IFRS. Such non–IAS/IFRS measures are not meant to be considered in isolation
or as a substitute for items appearing on our financial statements prepared in accordance with IAS/IFRS. Rather, these
non–IAS/IFRS measures should be used as a supplement to IAS/IFRS results to assist the reader in better understanding
our operational performance.
In order to provide a supplemental comparison of current period results of operations to prior periods, certain measures
such as EBITDA, EBITDA margin, income from operations, operating margin, income before provision for income taxes,
net income attributable to the Luxottica Group stockholders and earnings per share, both basic and diluted, have been
adjusted by excluding, if applicable, the following items related to non–recurring transactions:
a non–recurring gain in 2010 for Euro 19.9 million related to certain contingent liabilities originally recorded as part of a)
the sale of our Things Remembered retail business in 2006, which either settled or expired;
a non–recurring loss in the fourth quarter 2010 from the impairment of the goodwill allocated to the retail segment b)
for approximately Euro 20 million.
Such measures are not defined terms under IAS/IFRS and their definitions should be carefully reviewed and understood
by investors. Such non–IAS/IFRS measures are explained in detail and reconciled to their most comparable IAS/IFRS
measures below.