Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 20. Equity continued Nature and purpose of Other Reserves Revaluation reserve for property and equipment reclassified to investment property The revaluation reserve for property and equipment is used to record increases in fair value upon transfers of items from property and equipment to investment property and decreases to the extent that such decrease relates to an increase on the same asset previously recognised in equity. Unrealised gains (losses) on investment securities This reserve records fair value changes on investment securities. Unrealised gains (losses) from dilution or sale/acquisition of shares in existing subsidiaries This reserve records unrealised gains (losses) from dilution or sale/acquisition of shares in existing subsidiaries. Foreign currency translation reserve The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of subsidiaries with functional currency other than GEL. Movements in other reserves during the years ended 31 December 2018, 31 December 2017 and 31 December 2016 are presented in the statements of other comprehensive income. Earnings per share 2018 2017 2016 Basic earnings per share Profit for the year attributable to ordinary shareholders of the Group 468,996 437,615 398,538 Profit for the year from continuing operations attributable to ordinary shareholders of the Group 379,313 362,971 293,773 Profit for the year from discontinued operations attributable to ordinary shareholders of the Group 89,683 74,644 104,765 Weighted average number of ordinary shares outstanding during the year 43,512,857 37,697,497 38,266,383 Basic earnings per share 10.7783 11.6086 10.4148 Earnings per share from continuing operations 8.7173 9.6285 7.6771 Earnings per share from discontinued operations 2.0610 1.9801 2.7377 2018 2017 2016 Diluted earnings per share Effect of dilution on weighted average number of ordinary shares: Dilutive unvested share options 267,419 1,825,434 1,233,937 Weighted average number of ordinary shares adjusted for the effect of dilution 43,780,276 39,522,931 39,500,320 Diluted earnings per share 10.7125 11.0724 10.0895 Diluted earnings per share from continuing operations 8.6640 9.1838 7.4372 Diluted earnings per share from discontinued operations 2.0485 1.8886 2.6523 246 Annual Report 2018Bank of Georgia Group PLC