Annual Report - EDP

notes to the EDP consolidated - Energias de Portugal, and company S.A. financial statementsNotes for to the the Consolidated years ended and Company 31 december Financial Statements 2012 and 2011for the years ended 31 December 2012 and 2011The number of participants covered by the Medical and other benefits plans as at 31 December 2012 and 2011 is as follows:Dec 2012Dec 2011Portugal Brazil Portugal BrazilNumber of participants:Retirees and pensioners 17,947 2,151 18,010 1,980Current employees 5,932 1,168 6,168 1,20523,879 3,319 24,178 3,185The evolution of the present value of the liability for Medical and other benefits for the Group is as follows:Thousands of Euros 2012 2011 2010 2009 2008Provision for medical careLiability at the end of the year 994,026 819,215 800,473 770,357 750,982Provision at the end of the year 994,026 819,215 800,473 770,357 750,982The experience adjustments (effects of the differences between the previous actuarial assumptions and what really occurred) for the Portugal Medical Care Plans areanalysed as follows:Thousands of Euros 2012 2011 2010 2009 2008Experience adjustments for the Medical Plan liabilities36,991 35,051 15,249 57,164 -4,16036,991 35,051 15,249 57,164 -4,160The experience adjustments (effects of the differences between the previous actuarial assumptions and what really occurred) for the Brazil Medical Care Plans isanalysed as follows:Thousands of Euros 2012 2011 2010 2009 2008Experience adjustments for the Medical Plan liabilities-39,238 -2,469 -7,931 -9,771 2,717-39,238 -2,469 -7,931 -9,771 2,717The change of the consolidated past service liability for medical and other benefits for the Group is as follows:Dec 2012Dec 2011Thousands of Euros Portugal Brazil Group Portugal Brazil GroupEvolution of the liabilityLiability at the beginning of the year 741,503 77,712 819,215 758,314 42,159 800,473Current service cost 6,575 2,010 8,585 6,860 598 7,458Current interest cost 36,488 8,763 45,251 37,442 5,719 43,161Benefits reduction - - - - 1,308 1,308Benefits paid -37,249 -7,059 -44,308 -36,903 -4,807 -41,710Curtailments / settlements 1,174174 - 1,174174 852 -238 614Actuarial gains and losses 108,338 65,934 174,272 -28,172 37,929 9,757Currency fluctuation - -13,295 -13,295 - -4,956 -4,956Other and "mútua" 3,132 - 3,132 3,110 - 3,110Liability at end of the year 859,961 134,065 994,026 741,503 77,712 819,215Provision at end of the year 859,961 134,065 994,026 741,503 77,712 819,215The Medical Plan liability is recognised in the Group’s accounts through provisions that fully cover the liability.The components of the consolidated net cost of this medical and other benefits plans recognised during the year are as follows:Dec 2012Dec 2011Thousands of Euros Portugal Brazil Group Portugal Brazil GroupCost for the yearCurrent service cost 6,575 2,010 8,585 6,860 598 7,458Curtailment 1,174 - 1,174 852 -238 614Operational component (see note 10) 7,749 2,010 9,759 7,712 360 8,072Interest cost 36,488 8,763 45,251 37,442 5,719 43,161Financial component (see note 15) 36,488 8,763 45,251 37,442 5,719 43,161Net cost for the year 44,237 10,773 55,010 45,154 6,079 51,233The sensitivity analysis for the Medical Care Plan in Portugal is analysed as follows:Sensitivity assumption- medical care inflationCentralThousands of Euros Assumptions +1% -1%Liabilities at the end of the year 859,961 920,631 810,340EDP - Annual Report 2012231