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1.4 Consolidated statement of changes in equity
| in CHF thousand | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Share capital |
Capital reserves |
Own shares |
Retained earnings and net income |
Goodwill offset with equity |
Translation differences |
Equity before minority interests |
Minority interests |
Total equity |
||||||||||
| Equity at 1 January 2016 | 1,960 | 4,160 | – | 225,508 | –70,183 | –17,512 | 143,933 | 15,208 | 159,141 | |||||||||
| Dividends paid | – | – | – | –7,840 | – | – | –7,840 | –2,881 | –10,721 | |||||||||
| Employee equity incentive plans | – | 90 | –56 | – | – | – | 34 | – | 34 | |||||||||
| Currency translation effects | – | – | – | – | – | –391 | –391 | –38 | –429 | |||||||||
| Net income for the period | – | – | – | 10,806 | – | 10,806 | 1,525 | 12,331 | ||||||||||
| Total equity at 31 December 2016 | 1,960 | 4,250 | –56 | 228,474 | –70,183 | –17,903 | 146,542 | 13,814 | 160,356 | |||||||||
| Equity at 1 January 2017 | 1,960 | 4,250 | –56 | 228,474 | –70,183 | –17,903 | 146,542 | 13,814 | 160,356 | |||||||||
| Dividends paid | – | – | – | –7,836 | – | – | –7,836 | –2,679 | –10,515 | |||||||||
| Reduction of share capital | – | – | – | – | – | – | – | –2,401 | –2,401 | |||||||||
| Employee equity incentive plans | – | –38 | –68 | – | – | – | –106 | – | –106 | |||||||||
| Currency translation effects | – | – | – | – | – | 2,061 | 2,061 | 407 | 2,468 | |||||||||
| Net income for the period | – | – | – | 4,771 | – | – | 4,771 | 1,625 | 6,396 | |||||||||
| Total Equity at 31 December 2017 | 1,960 | 4,212 | –124 | 225,409 | –70,183 | –15,842 | 145,432 | 10,766 | 156,198 | |||||||||
The share capital as at 31 December 2017 and 31 December 2016 consisted of 1,960,000 registered shares with a par value of CHF 1.00 each.
The amount of accumulated non-distributable reserves stands at CHF 13,743,000 (2016: CHF 12,167,000).
In the event of the disposal or partial disposal of entities or in the event of the full or partial reimbursement of loans with equity character granted to consolidated companies, goodwill and currency translation differences have to be fully or partially written down via the consolidated income statement in accordance with Swiss GAAP FER 30 (17). This has no impact on the consolidated shareholders’ equity as such a write-down would lead, on the one hand, to an increase in the consolidated shareholders’ equity, but the related loss would then represent a decrease of the same amount (‘recycling of goodwill and currency translation differences’).
In contrast, a reorganisation of the business (even if significant) that does not involve the disposal or partial disposal of entities would have no impact on these two items of the consolidated shareholders’ equity.
Of the total amount of goodwill and currency translation differecnces, CHF 84,511,000 (2016: CHF 86,573,000) relates to the Industrial Systems business unit, where the potential for write-downs in the event of (partial) disposals (possibly accompanied by a decrease in loans to group companies) is consequently significant.
The disclosures form an integral part of the financial report.