Statement of changes in equit y For the year ended 30 June 2012 Consolidated - 2011 Note  Share  capital   Reserves   Retained  earnings   Total   Non-  controlling  interest   Total  equity  $’000 $’000 $’000 $’000 $’000 $’000 Opening balance at 1 July 2010 25,26,27 858,178  (3,324) 15,583  870,437  16,517  886,954  Total comprehensive income for the  period Profit for the period attributable to owners  of the Company - - 99,489  99,489  1,301  100,790  Loss for the period attributable to  policyholders of the IOOF Life Ltd Statutory  Fund - - (11) (11) - (11) Other comprehensive income Net change in fair value of available-for- sale financial assets - 5,398  - 5,398  - 5,398  Net change in fair value of share buy back  liability - (10,112) - (10,112) - (10,112) Income tax on other comprehensive  income - (1,866) - (1,866) - (1,866) Total other comprehensive income - (6,580) - (6,580) - (6,580) Total comprehensive income for the  period - (6,580) 99,478  92,898  1,301  94,199  Transactions with owners, recorded  directly in equity Contributions by and (distributions to) owners Dividends to equity holders - - (89,935) (89,935) (1,567) (91,502) Share-based payment expense - 3,232  - 3,232  - 3,232  Acquisition through business combination Issue of shares on exercise of options under  executive and employee share option plan 9,464  - - 9,464  - 9,464  Transfer from employee equity-settled  benefits reserve on exercise of options 440  (440) - - - - Employee performance rights vested  during the year 330  (330) - - - - Adviser performance rights vested during  the year 453  (453) - - - - On-market purchase of treasury shares  transferred to employees during the year (414) - - (414) - (414) Total contributions by and distributions to  owners 10,273  2,009  (89,935) (77, 653) (1,567) (79,220) Changes in ownership interests in subsidiaries  that do not result in a loss of control Issue of additional non-controlling interests - - - - 45  45  Derecognition of non-controlling interest  subject to buy-back - 139  - 139  (139) - Total changes in ownership interests in  subsidiaries - 139  - 139  (94) 45  Total transactions with owners 10,273  2,148  (89,935) (77,514) (1,661) (79,175) Balance at 30 June 2011 25,26,27 868,451  (7,756) 25,126  885,821  16,157  901,978  Notes to the financial statements are included on pages 61 to 121.  page 58