STATEMENT OF CHANGES IN EQUITY

Earnings recognised directly in equity
(€ thousands) Subscribed capital of KSB AG Capital reserve of KSB AG Revenue
reserves
Currency translation differences Measurement of financial instruments Equity attributable to shareholders of KSB AG Non-controlling interest Total equity
1 Jan. 2010 44,772 66,663 561,174 – 45,113 – 389 627,107 93,455 720,562
Income and expense recognised directly in equity 116 30,626 – 215 30,527 8,479 39,006
Earnings after income taxes 77,435 77,435 12,525 89,960
Total recognised income and expense 77,551 30,626 – 215 107,962 21,004 128,966
Dividends paid – 21,240 – 21,240 – 2,926 – 24,166
Capital increases / decreases
Change in consolidated Group / Step acquisitions 167 167 167
Other 37 37
31 Dec. 2010 44,772 66,663 617,652 – 14,487 – 604 713,996 111,570 825,566
Earnings recognised directly in equity
(€ thousands) Subscribed capital of KSB AG Capital reserve of KSB AG Revenue
reserves
Currency translation differences Measurement of financial instruments Equity attributable to shareholders of KSB AG Non-controlling interest Total equity
1 Jan. 2011 44,772 66,663 617,652 – 14,487 – 604 713,996 111,570 825,566
Income and expense recognised directly in equity – 3 – 11,067 – 1,970 – 13,040 – 4,404 – 17,444
Earnings after income taxes 71,950 71,950 11,343 83,293
Total recognised income and expense 71,947 – 11,067 – 1,970 58,910 6,939 65,849
Dividends paid – 21,240 – 21,240 – 2,905 – 24,145
Capital increases / decreases
Change in consolidated Group / Step acquisitions 1,844 1,844 26 1,870
Other – 16 – 16
31 Dec. 2011 44,772 66,663 670,203 – 25,554 – 2,574 753,510 115,614 869,124
Accumulated currency translation differences (€ thousands) Equity attributable to shareholders of KSB AG Non-controlling interest Total equity
Balance at 1 Jan. 2010 – 45,113 – 21,414 – 66,527
Change in 2010 30,626 8,473 39,099
Balance at 31 Dec. 2010 / 1 Jan. 2011 – 14,487 – 12,941 – 27,428
Change in 2011 – 11,067 – 4,148 – 15,215
Balance at 31 Dec. 2011 – 25,554 – 17,089 – 42,643

The changes in the consolidated Group did not have any material impact on the equity items; the same would have been reported in the prior-period consolidated financial statements.