Annual Report - EDP

notes to the consolidated EDP and - Energias company de Portugal, financial S.A. statementsfor the Notes years to the ended Consolidated 31 december and Company 2012 Financial and Statements 2011for the years ended 31 December 2012 and 2011Exchange differences on consolidationExchange differences on consolidation includes the amounts resulting from changes in the value of shareholder's equity of subsidiary and associated companiesresulting from changes in exchange rates. The exchange rates used in the preparation of the financial statements are as follows:Treasury stock reserve (EDP, S.A.)33. NON-CONTROLLING INTERESTSExchange rates at Dec 2012 Exchange rates at Dec 2011Closing Average Closing AverageCurrency rates exchange-rate rates exchange-rateDollar USD 1.319 1.285 1.294 1.392Brazilian Real BRL 2.704 2.508 2.416 2.327Macao Pataca MOP 10.533 10.062 10.353 10.985Canadian Dollar CAD 1.314 1.284 1.322 1.376Zloty PLN 4.074 4.185 4.458 4.121Romanian Leu RON 4.445 4.459 4.323 4.239Pound Sterling GBP 0.816 0.811 0.835 0.868In accordance with the article 324.º of "Código das Sociedades Comerciais", EDP, S.A., has created an unavailable reserve with an amount equal to the bookingamount of treasury stock held.DividendsOn 17 April 2012, the Shareholders General Meeting of EDP, S.A. approved the dividends distribution to shareholders which ocurred on 16 May 2012 of the net profit forthe year 2011 in the amount of 676,459 thousands of Euros, corresponding to a dividend of 0.185 Euros per share (including the treasury stock dividend owned byEDP, S.A. in the amount of 5,630 thousands of Euros).This caption is analysed as follows:GroupThousands of Euros Dec 2012 Dec 2011Non-controlling interests in income statement 169,672 207,316Non-controlling interests in equity and reserves 3,069,642 3,069,9293,239,314 3,277,245Non-controlling interests, by company, are made up as follows:GroupThousands of Euros Dec 2012 Dec 2011EDP Renováveis Group 1,516,865 1,319,812Energias do Brasil Group 1,604,316 1,844,400Other 118,133 113,0333,239,314 3,277,245During the year ended 31 December 2012 EDP Group generated profits of 169,672 thousands of Euros attributable to non-controlling interest (31 December 2011:207,316 thousands of Euros).The movement in non-controlling interests of EDP Renováveis Group is mainly related to profits attributable to non-controlling interests of 38,792 thousands of Euros, adecrease of 4,805 thousands of Euros related to dividends paid and a decrease of the fair value reserve net of taxes of 12,627 thousands of Euros. In November 2012,EDP Renováveis has reached an agreement with Borealis Infrastructure for the sale, without loss of control of Vento II, of 49% equity shareholding in a portfolio of windfarm assets in the United States of America, and, as a result, the Group recognised non-controlling interests of 176,614 thousands of Euros.The movement booked in non-controlling interests of EDP Brasil Group includes 123,070 thousands of Euros of profits attributable to non-controlling interests, 169,978thousands of Euros from the negative exchange differences, a decrease of 162,554 thousands of Euros related to dividends paid and the effect of changes in actuariallosses net of taxes, resulted in a decrease on the period in the non-controlling interests of 30,565 thousands of Euros.34. HYDROLOGICAL ACCOUNTThis caption is analysed as follows:Group and CompanyThousands of Euros Dec 2012 Dec 2011Non-Current 33,644 69,142Current 22,832 -56,476 69,142220A World Full Of Energy