Annual Report - EDP

notes to the EDP consolidated - Energias de Portugal, and S.A. company financial statementsfor the years ended 31 december 2012 and 2011Notes to the Consolidated and Company Financial Statementsfor the years ended 31 December 2012 and 201127. OTHER DEBTORS AND OTHER ASSETSOther debtors and other assets are analysed as follows:GroupCompanyThousands of Euros Dec 2012 Dec 2011 Dec 2012 Dec 2011Debtors and other assets - Current:Loans to subsidiaries - - 1,036,546 1,802,680Dividends - - 86,204 152,358Loans to related parties 38,348 122,903 17,167 20,235Receivables from the State and concessors 48,349 30,565 - -Derivative financial instruments 129,814 216,817 127,169 246,766Subsidiary Companies - - 1,022,077 421,855Guarantees and tied deposits 19,548 37,834 - -Sundry debtors and other operations 60,615 97,575 5,366 1,880296,674 505,694 2,294,529 2,645,774Debtors and other assets - Non-Current:Loans to subsidiaries - - 5,885,502 4,765,436Loans to related parties 265,542 133,180 90 90Guarantees and tied deposits 72,498 74,350 5 3,419Derivative financial instruments 147,026 104,697 128,493 79,184Sundry debtors and other operations 49,507 21,426 - -534,573 333,653 6,014,090 4,848,129831,247 839,347 8,308,619 7,493,903The Derivative financial instruments portfolio current and non current, in the amount of 129,814 thousands of Euros and 147,026 thousands of Euros respectively,correspond to the fair value of trading and hedge portfolios as at 31 December 2012 (see note 43).28. CURRENT TAX ASSETSCurrent tax assets are analysed as follows:GroupCompanyThousands of Euros Dec 2012 Dec 2011 Dec 2012 Dec 2011State and other public entities:Income tax 168,834 271,353 81,917 77,246Value added tax (VAT) 207,245 307,087 110,415 81,876Turnover tax (Brazil) 17,026 30,598 - -Other taxes 42,523 35,781 3,255 3,255435,628 644,819 195,587 162,377On EDP Group basis, the caption Other taxes includes the amount of 30,026 thousands of Euros (31 December 2011: 27,700 thousands of Euros) related with creditsfrom PIS and COFINS from Brazil, resulting from the interpretation provided by the Internal Revenue Service in answer to Inquiry COSIT 27/2008 corresponding to thecredits calculated based on expenses with materials applied or consumed in the electricity supply activity and in the depreciation of fixed assets to be offset withdebits of these contributions.29. CASH AND CASH EQUIVALENTSCash and cash equivalents are analysed as follows:GroupCompanyThousands of Euros Dec 2012 Dec 2011 Dec 2012 Dec 2011Cash 60 40 - -Bank deposits:Current deposits 416,038 475,206 26,345 170,629Term deposits 1,052,822 1,219,813 601,914 490,980Specific demand deposits in relation to institutional partnerships - EDPR NA 65 24,636 - -Other deposits 29,084 5,152 - -1,498,009 1,724,807 628,259 661,609Operations pending cash settlement:Current deposits 196,976 - 676,976 -Other short term investments (Euros) 291 6,677 - -Cash and cash equivalents 1,695,336 1,731,524 1,305,235 661,609The caption Other short term investments includes very short term investments promptly convertible into cash.The caption Specific demand deposits of institutional partnerships - EDPR NA corresponding to funds required to be held in escrow sufficient to pay the remainingconstruction related costs of projects in institutional equity partnerships (see note 38).EDP - Annual Report 2012217