LensCrafters 2015 Annual Report Download - page 221

Notes to the separate financial statements as of December 31, 2015 Page 41 of 77
Legal reserve
The increase of Euro 49,143 reflects the allocation of a portion of the prior year's net income.
Extraordinary reserve
The stockholders voted on April 24, 2015 to use Euro 141,736,813 from the extraordinary reserve for the purposes of
the dividend distribution.
Additional paid-in capital
This reserve increases with the exercise of stock options.
Treasury shares
Treasury shares are recorded as a reduction in stockholders' equity. The original cost of treasury shares and the
economic effects of any subsequent disposals are recognized in stockholders' equity.
The treasury shares reserve was equal to Euro 68,636,042 as of December 31, 2015 (Euro 73,874,533 as of December
31, 2014). The reduction of Euro 5.2 million was due to the grant of approximately 0.5 million treasury shares to
employees following achievement of the financial targets under the 2012 Performance Share Plan and to the grant of
119,755 treasury shares to employees in honor of the 80th birthday of the Chairman and Founder, Mr. Leonardo Del
Vecchio. These decreases were partially offset by the purchase of 116,673 treasury shares. As a result of the above, the
number of treasury shares went from 3,647,725 as of December 31, 2014 to 3,145,865 as of December 31, 2015.
Other reserves
The change reflects Euro 49,738,731 to account for stock options in accordance with IFRS 2, and Euro 363,441 in net
actuarial gains/losses recognized in equity in accordance with IAS 19.
The components of stockholders' equity are analyzed below according to their origin, permitted use, amount available
for distribution and actual utilization in the previous three years.