Consolidated statement of changes in equity

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

Equity as at 31.12.2017	70,000	405,601	1,574,940	217,882	2,309	2,270,732
Appropriation of net income			217,882	–217,882		0
Dividend payment			–3,500			–3,500
Profit/loss for the period				54,065	–34	54,031
Equity as at 31.12.2018	70,000	405,601	1,789,322	54,065	2,275	2,321,263

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

Equity as at 31.12.2018	70,000	405,601	1,789,322	54,065	2,275	2,321,263
Appropriation of net income			54,065	–54,065		0
Dividend payment			–2,100			–2,100
Profit/loss for the period				435,977	–61	455,796
Equity as at 31.12.2019	70,000	405,601	1,841,287	435,977	2,214	2,755,079

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.