32 ANNUAL REPORT  2013  KATHMANDU statements of changes in equity FOR THE YEAR ENDED 31 JULY 2013 GROUP Share Capital Cash Flow  Hedge  Reserve Foreign  Currency  Translation  Reserve Share  Based  Payments  Reserve Retained  Earnings Total Equity NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Balance as at 31 July 2011 197,049 ) (9,055) 3,889 ) 625 )) 62,418 ) 254,926 Total comprehensive income - ) 5,746 )) 3,739 ) - ) 34,852 ) 44,337 Dividends paid - ) - ) - ) - ) (20,000) (20,000) Issue of share capital 249 ) - ) - ) (249) - - ) Share Options / Performance Rights lapsed - ) - ) - ) (8) 8 ) - ) Share based payment expense - ) - ) - ) 371 )) - 371 Balance as at 31 July 2012 197,298 ) (3,309) 7,628 ) 739 )) 77,278 ) 279,634 Total comprehensive income - ) 8,376 )) (18,186) - ) 44,174 34,364 Dividends paid - ) - ) - - ) (20,018) (20,018) Issue of share capital 72 ) - ) - (72) - - Share Options / Performance Rights lapsed - ) - ) - (53) 53 ) - Share based payment expense - ) - ) - 209 )) - 209 Balance as at 31 July 2013 197,370 ) 5,067 )) (10,558) 823 )) 101,487 294,189 PARENT Share Capital Cash Flow  Hedge  Reserve Foreign  Currency  Translation  Reserve Share  Based  Payments  Reserve Retained  Earnings Total Equity NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 NZ$’000 Balance as at 31 July 2011 422,137 - - 625 (13,943) 408,819 Total comprehensive income - - - - 18,281 18,281 Dividends paid - - - - (20,000) (20,000) Issue of share capital 249 - - (249) - - Share Options / Performance Rights lapsed - - - (8) 8 - Share based payment expense - - - 371 - 371 Balance as at 31 July 2012 422,386 - - 739 (15,654) 407,471 Total comprehensive income - - - - 18,130 18,130 Dividends paid - - - - (20,018) (20,018) Issue of share capital 72 - - (72) - - Share Options / Performance Rights lapsed - - - (53) 53 - Share based payment expense - - - 209 - 209 Balance as at 31 July 2013 422,458 - - 823 (17,489) 405,792