Condensed consolidated statement of changes in total equity

  Share capital Share premium Retained earnings Other equity components Owners of the parent Non-controlling interests Total equity
EUR million     Retained earnings and other funds Translation of foreign operations Cash flow hedges Other OCI items OCI items associated companies      
Total equity 31 December 2011 3,046 73 6,670 -352 136 -2 61 9,632 529 10,161
Net profit for the period     681         681 43 724
Translation differences       63 1   1 65 7 72
Other comprehensive income         -6   -12 -18 -2 -20
Total comprehensive income for the period     681 63 -5 0 -11 728 48 776
Cash dividend     -888         -888   -888
Dividends to non-controlling interests               0 -26 -26
Changes due to business combinations               0 1 1
Total equity 30 June 2012 3,046 73 6,463 -289 131 -2 50 9,472 552 10,024
                     
Total equity 31 December 2010 3,046 73 5,726 -278 -419 0 62 8,210 532 8,742
Net profit for the period     1,150         1,150 74 1,224
Translation differences       1 -1   -1 -1 -9 -10
Other comprehensive income     10   344 1 -1 354 4 358
Total comprehensive income for the period     1,160 1 343 1 -2 1,503 69 1,572
Cash dividend     -888         -888   -888
Dividends to non-controlling interests               0 -21 -21
Changes due to business combinations           -2   -2 1 -1
Total equity 30 June 2011 3,046 73 5,998 -277 -76 -1 60 8,823 581 9,404
                     
Total equity 31 December 2010 3,046 73 5,726 -278 -419 0 62 8,210 532 8,742
Net profit for the period     1,769         1,769 93 1,862
Translation differences       -74       -74   -74
Other comprehensive income     6   555   -1 560 6 566
Total comprehensive income for the period     1,775 -74 555 0 -1 2,255 99 2,354
Cash dividend     -888         -888   -888
Dividends to non-controlling interests               0 -21 -21
Changes due to business combinations     54     -2   52 -81 -29
Other     3         3   3
Total equity 31 December 2011 3,046 73 6,670 -352 136 -2 61 9,632 529 10,161

Translation differences

Translation differences impacted equity attributable to owners of the parent company with EUR 65 million during Q1-Q2 2012 (Q1-Q2 2011: -1) mainly relating to RUB, NOK and SEK amounting to EUR 56 million in Q1-Q2 2012 (Q1-Q2 2011: 5).

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. For information regarding exchange rates used, see Note 8 Exchange rates.

Cash flow hedges

The impact on equity attributable to owners of the parent from fair valuation of cash flow hedges, EUR -5 million during Q1-Q2 2012 (Q1-Q2 2011: 343), mainly relates to cash flow hedges hedging electricity price for future transactions, where hedge accounting is applied. When electricity price is lower/higher than the hedging price, the impact on equity is positive/negative.

Cash dividend

The dividend for 2011 was decided at the Annual General Meeting on 11 April 2012. The dividend was paid on 23 April 2012. The dividend for 2010 was decided at the Annual General Meeting on 31 March 2011. See Note 11 Dividend per share.