Consolidated statement of changes in shareholders’ equity

CHF million					Retained earnings
	Share capital	Capital reserves	Treasury shares	Hedging reserves	Revaluation reserves	Other retained earnings	Total
As at 31 December 2016	797.1	141.1	–1.7	–35.4	192.9	992.8	2 086.8
Net profit						129.2	129.2
Valuation of financial instruments				10.3			10.3
Changes in employee benefits						19.1	19.1
Total comprehensive income				10.3		148.3	158.6
Purchase treasury shares			–27.6				–27.6
Sale treasury shares			24.3			0.2	24.5
Payout of reserves from capital contributions		–91.7					–91.7
Share-based reimbursement			0.1				0.1
Reclassification					21.3	–21.3	–
As at 31 December 2017	797.1	49.4	–4.9	–25.1	214.2	1 120.0	2 150.7
First application IFRS 15						1.5	1.5

Net profit						161.0	161.0
Valuation of financial instruments				9.4			9.4
Changes in employee benefits						–0.2	–0.2
Total comprehensive income	–	–	–	9.4	–	160.8	170.2
Purchase treasury shares			–36.1				–36.1
Sale treasury shares			31.9			–0.3	31.6
Nominal value reduction	–781.2	781.2					0.0
Payout of reserves from capital contributions		–99.3					–99.3
Share-based reimbursement			0.2				0.2
Reclassification					45.3	–45.3	–
As at 31 December 2018	15.9	731.3	–8.9	–15.7	259.5	1 236.7	2 218.8

Capital reserves represent the amount (premium) earned by shareholders over and above the nominal value on subscription of share capital of Allreal Holding AG after deduction of the corresponding issue costs.