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Luxottica Group, S.p.A. (LUX)
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LUX » Topics » 6. ADOPTION OF STATEMENT OF FINANCIAL ACCOUNTING STANDARD NO. 123(R) "SHARE-BASED PAYMENT"

This excerpt taken from the LUX 6-K filed Dec 26, 2006.

6.  ADOPTION OF STATEMENT OF FINANCIAL ACCOUNTING STANDARD NO. 123(R) "SHARE-BASED PAYMENT"

        As of January 1, 2006, the Company has adopted SFAS-123R in accordance with the transitional guidance as prescribed in the statement. As such, the previous unearned compensation as of December 31, 2005 of Euro 48.6 million has been charged against the appropriate equity accounts. Approximately Euro 28.7 million of additional compensation costs expense associated with the annual stock option plans and with the Company's October 2004 Performance Plan grants, September 2004 shareholder grant and July 2006 Performance Plans grants was included in general and administrative expense for the first nine months of 2006.

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