LensCrafters 2011 Annual Report Download - page 120

ANNUAL REPORT 2011> 44 |
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.
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) an extraordinary gain of approximately Euro 19.0 million related to the acquisition of
the 40 percent stake in Multiopticas Internacional;
(b) non-recurring costs related to Luxottica’s 50th anniversary celebrations of approximately
Euro 12.0 million;
(c) non-recurring restructuring and start-up costs in the Retail Division of approximately
Euro 11.2 million;
(d) non-recurring impairment loss related to the reorganization of OPSM of Euro 9.6
million;
(e) the release in 2010 of a provision for taxes of Euro 19.9 million related to the sale of
Things Remembered retail business in 2006 and
(f) a non-recurring impairment charge recorded in the fourth quarter of 2010 of
approximately Euro 20 million related to certain of the Company assets in the Asia-
Pacific region.