Consolidated statement of changes in total equity
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Share capital | Share premium | Retained earnings | Other equity components | Owners of the parent | Non‑ controlling interests | Total equity | |||||
EUR million | Note | Retained earnings and other funds | Translation of foreign operations | Cash flow hedges | Other OCI items | OCI items associated companies | |||||
Total equity 31 December 2013 | 3,046 | 73 | 7,500 | ‑649 | 66 | ‑51 | 38 | 10,024 | 101 | 10,124 | |
Net profit for the period | 3,154 | 3,154 | 7 | 3,161 | |||||||
Translation differences | ‑1,319 | ‑3 | 2 | 0 | ‑1,320 | ‑23 | ‑1,343 | ||||
Other comprehensive income | ‑3 | ‑43 | 44 | ‑17 | ‑19 | 0 | ‑19 | ||||
Total comprehensive income for the period | 3,151 | ‑1,319 | ‑47 | 46 | ‑16 | 1,815 | ‑16 | 1,799 | |||
Cash dividend | 15 | ‑977 | ‑977 | ‑977 | |||||||
Dividends to non‑controlling interests | 0 | ‑2 | ‑2 | ||||||||
Changes due to business combinations | 8 | 6 | 6 | ‑11 | ‑5 | ||||||
Other changes | ‑4 | ‑4 | ‑1 | ‑4 | |||||||
Total equity 31 December 2014 | 3,046 | 73 | 9,676 | ‑1,968 | 19 | ‑5 | 22 | 10,864 | 71 | 10,935 | |
Total equity 31 December 2012, as previously reported | 3,046 | 73 | 7,193 | ‑173 | 34 | ‑133 | 0 | 10,040 | 603 | 10,643 | |
Change in accounting policy 1) | 2 | 15 | ‑17 | ‑1 | ‑495 | ‑496 | |||||
Total equity 1 January 2013 | 3,046 | 73 | 7,193 | ‑173 | 36 | ‑118 | ‑17 | 10,039 | 108 | 10,147 | |
Net profit for the period | 1,204 | 1,204 | 8 | 1,212 | |||||||
Translation differences | ‑476 | ‑1 | 2 | 4 | ‑471 | ‑7 | ‑478 | ||||
Other comprehensive income | 31 | 65 | 51 | 148 | 0 | 148 | |||||
Total comprehensive income for the period | 1,204 | ‑476 | 30 | 67 | 55 | 881 | 1 | 882 | |||
Cash dividend | 15 | ‑888 | ‑888 | ‑888 | |||||||
Dividends to non‑controlling interests | 0 | ‑3 | ‑3 | ||||||||
Changes due to business combinations | 8 | 1 | 1 | 1 | |||||||
Other changes | ‑10 | ‑10 | ‑5 | ‑15 | |||||||
Total equity 31 December 2013 | 3,046 | 73 | 7,500 | ‑649 | 66 | ‑51 | 38 | 10,024 | 101 | 10,124 | |
Translation differences | |||||||||||
Translation of financial information from subsidiaries in foreign currency is done using average rate for the income statement and end rate for the balance sheet. The exchange rate differences occurring from translation to EUR are booked to equity. Translation differences impacted equity attributable to owners of the parent company with EUR ‑1,320 million during 2014 (2013: ‑471). Translation differences are mainly related to RUB. Part of this translation exposure has been hedged and the hedge result, amounting to EUR 149 million, is included in the other OCI items. | |||||||||||
For information regarding exchange rates used, see Note 1 Accounting policies. | |||||||||||
For information about translation exposure see Note 3.6 Interest rate risk and currency risk. | |||||||||||
Cash flow hedges | |||||||||||
The impact on equity attributable to owners of the parent from fair valuation of cash flow hedges, EUR ‑47 million (2013: 30), mainly relates to cash flow hedges hedging electricity price for future transactions. When electricity price is lower/higher than the hedging price, the impact on equity is positive/negative. | |||||||||||
1) Comparative period information has been restated due to the accounting change, see Note 1.6.1 |