| NOK million | Share capital | Share premium | Other paid-in equity | Fund 1) | Translation differences | Retained earnings | Equity attributable to owners of the parent | Non- controlling interests | Total equity |
| Equity as of 1 January 2010 | 195 | 4 080 | 76 | 56 | 4 | 6 731 | 11 142 | 11 | 11 154 |
| Profit/loss for the year | (393) | (393) | 1 | (392) | |||||
| Other comprehensive income | 136 | 11 | 147 | 147 | |||||
| Total comprehensive income for the year | 136 | 11 | (393) | (246) | 1 | (245) | |||
| Transactions with owners: | |||||||||
| Change in non-controlling interests | (7) | (7) | |||||||
| Dividend for 2009 | (439) | (439) | (439) | ||||||
| Other equity effects | 1 | 1 | 1 | ||||||
| Equity as of 31 December 2010 | 195 | 4 080 | 76 | 192 | 15 | 5 900 | 10 458 | 5 | 10 464 |
| Loss for the year | (698) | (698) | (2) | (700) | |||||
| Other comprehensive income | (192) | (192) | (192) | ||||||
| Total comprehensive income for the year | (192) | (698) | (890) | (2) | (892) | ||||
| Transactions with owners: | |||||||||
| Change in non-controlling interests | 20 | 20 | |||||||
| Change in treasury shares 2) | 3 | 3 | 3 | ||||||
| Dividend for 2010 | (1 461) | (1 461) | (-1 461) | ||||||
| Other equity effects | (3) | (3) | (3) | ||||||
| Equity as of 31 December 2011 | 195 | 4 080 | 76 | 0 | 15 | 3 741 | 8 107 | 23 |
1) The Fund represents the net increase in fair value of financial instruments classified as available for sale, until such time as the investments are disposed of or it is established that the investments' values do not exceed their book value.
2) Please refer to Note 15 regarding ownership of Hafslund treasury shares.
The Board has proposed a dividend of NOK 2.50 per share for the 2011 financial year. The corresponding figure for 2010 was NOK 7.50 per share, of which NOK 5.00 per share was an extraordinary dividend.
Notes 1 to 29 are an integral part of the consolidated financial statements