LensCrafters 2015 Annual Report Download - page 156

Notes to the consolidated financial statement as of December 31, 2015 Page 62 di 68
31. ATYPICAL AND/OR UNUSUAL OPERATIONS
There were no atypical and/or unusual transactions, as defined by the Consob communication n. 6064293 dated July 28, 2006,
that occurred in 2015 or 2014.
32. DERIVATIVE FINANCIAL INSTRUMENTS
Derivatives are classified as current or non-current assets and liabilities. The fair value of derivatives is classified as a long-term
asset or liability for the portion of cash flows expiring after 12 months, and as a current asset or liability for the portion expiring
within 12 months.
The ineffective portion recorded in other-net within the consolidated statement of income amounted to Euro 0.0 million in each
of 2015 and 2014.
The table below shows the assets and liabilities related to derivative contracts in effect as of December 31, 2015 and 2014
(amounts in thousands of Euro):
2015 2014
(in thousands of Euro) Assets
Liabilities Assets Liabilities
Interest rate swaps—cash flow hedge — — — —
Forward contracts—cash flow hedge 2,055
(2,173) 1,008 (4,376)
Total 2,055
(2,173) 1,008 (4,376)
of which:
Non-current portion
Interest rate swaps—cash flow hedge — — — —
Forward contracts—cash flow hedge —
— — —
Total —
— — —
Current portion 2,055
(2,173) 1,008 (4,376)
The table below shows movements in the stockholders’ equity due to the reserve for cash flow hedges (amounts in thousands
of Euro):
Balance as of January 1, 2014 (318)
Fair value adjustment of derivatives designated as cash flow hedges (129)
Tax effect on fair value adjustment of derivatives designated as cash flow hedges 35
Amounts reclassified to the consolidated statement of income 567
Tax effect on amounts reclassified to the consolidated statement of income (155)
Balance as of December 31, 2014 —
Interest rate swaps
As of December 31, 2015 and 2014, there were no interest rate swap instruments.