Annual Report 2014 | Suomeksi |

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

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