The Statement of Changes in Equity changes from one period to the next in accordance with the Group’s profit or loss. Furthermore, transactions with owners will be presented as separate items. This applies to matters such as dividends to shareholders, share issues, the Group’s purchase and sale of treasury shares and costs relating to options.
Under IFRS, some elements are recognised in compre- hensive income, and these items are presented in a separate table in connection with the income statement and presented as a single sum in the statement of changes in equity. This applies to changes in the unrealised gains in the Share Portfolio and changes in the hedging reserve which by definition come under hedge accounting. Fluctuations in foreign exchange rates will also affect equity in the form of translation differences which are included in the statement of compre- hensive income. The various elements in changes in equity are shown below. Equity may not be distributed to shareholders in its entirety, and the equity in Orkla ASA constitutes the basis of calculation for and the limitation on the dividend paid out by the Group.
Other equity for Orkla ASA at 31 December 2011 includes a fund for unrealised gains totalling NOK 1,133 million (NOK 4,267 million at 31 December 2010) and other paid-in equity (options) totalling NOK 328 million (NOK 242 million at 31 December 2010) that is not shown in a separate column because of the non-material amount.
Free equity in Orkla ASA amounted to NOK 21,878 million at 31 December 2011 (NOK 33,166 million at 31 December 2010).