Consolidated statement of changes in equity

Figures in CHF thousand	Organisation capital	Capital reserves	Retained earnings	Consolidated earnings	Non- controlling interest	Total

Equity as at 1.1.2016	70,000	405,601	1,464,535	15,936	2,282	1,958,354
Appropriation of net income			15,936	–15,936		0
Dividend payment			–1,400			–1,400
Profit / loss for the period				97,969	–210	97,759
Equity as at 31.12.2016	70,000	405,601	1,479,071	97,969	2,072	2,054,714

Figures in CHF thousand	Organisation capital	Capital reserves	Retained earnings	Consolidated earnings	Non-con- trolling interest	Total

Equity as at 31.12.2016	70,000	405,601	1,479,071	97,969	2,072	2,054,714
Appropriation of net income			97,969	–97,969		0
Dividend payment			–2,100			–2,100
Profit / loss for the period				217,882	237	218,119
Equity as at 31.12.2017	70,000	405,601	1,574,940	217,882	2,309	2,270,732

Equity is composed of the following positions:

Organisation capital

This is the nominal amount of share capital. The share capital is divided into 70,000 ordinary registered shares with a par value of CHF 1,000 each.

Capital reserves

Capital reserves are payments in excess of the nominal amount (surplus).

Retained earnings

Retained earnings refers to accumulated equity capital in the form of earnings that are kept and not distributed from previous years. The income obtained from the first application of Swiss GAAP FER is recognised as retained earnings.