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9
NATIONAL GRID NORTH AMERICA INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF SHAREHOLDER’S EQUITY
(in millions of dollars, except per share and number of shares data)
Shares
Issued an d
O u tsta ndi ng Amoun t
Shares Issu ed
an d
O u tsta ndi ng Amoun t
Additi onal
Paid-in C apital
Re tai ne d
Earni ngs
Fore i gn C urre n cy
Trans lation
Unreal iz e d Gain
(Los s) on Avai lable
fo r Sal e Se cu rit ie s
Pe nsion and
Po stre ti re me n t
Bene fi t Pl an s
He dgin g
Acti vity
Total
Accum ula te d
O th e r
C om pre he n si ve
Income
Non-con trol ling
in te re st Total
Balance as of March 31, 2011 1,353 -$ 372,638 35$ 7,098$ 1,422$ (141)$ (9)$ (702)$ (5)$ (857)$ 10$ 7,708$
Net income - - - - - 408 - - - - - - 408
Comprehensive income (loss):
Foreign currency translation, net of $1 t ax expense - - - - - - 1 - - - 1 - 1
Unrealized gains on securities, net of $1 tax expense - - - - - - - 6 - - 6 - 6
Unrealized gains on hedges, net of $3 t ax expense - - - - - - - - - 7 7 - 7
Changes in pension and other postretirement
obligations, net of $124 t ax benefit - - - - - - - - (186) - (186) - (186)
Reclassification adjustment for gains included in net
income, net of $23 t ax benefit - - - - - - - - (34) - (34) - (34)
Tot al comprehensive income 202
-
Issuance of Golden Shares (par value $1 per share) - - 3 - - - - - - - - - -
Net earnings att ributable t o non-controlling interest - - - - - (2) - - - - - (1) (3)
-
-
Balance as of March 31, 2012 1,353 -$ 372,641 35$ 7,098$ 1,828$ (140)$ (3)$ (922)$ 2$ (1,063)$ 9$ 7,907$
Net income - - - - - 464 - - - - - (1) 463
Comprehensive income (loss):
Foreign currency translation, net of $1 t ax benefit - - - - - - 1 - - - 1 - 1
Unrealized gains on securities, net of $0 tax expense - - - - - - - 1 - - 1 - 1
Unrealized losses on hedges, net of $1 tax benefit - - - - - - - - - (4) (4) - (4)
Changes in pension and other postretirement
obligations, net of $73 tax benefit - - - - - - - - (118) - (118) - (118)
Adjustment for establishment of Narragansett pension - - - - - - - - 91 - 91 - 91
tracker, net of $54 tax expense
Reclassification adjustment for gains included in net
income, net of $61 t ax expense - - - - - - - - 87 - 87 - 87
Tot al comprehensive income 521
-
Share based compensation - - - 63 - - - - - - - 63
Consolidation of variable interest ent ity - - - - - - - - - - 22 22
Other equity transactions with non-cont rolling interest - - - - - - - - - - - (4) (4)
-
-
Balance as of March 31, 2013 1,353 -$ 372,641 35$ 7,161$ 2,292$ (139)$ (2)$ (862)$ (2)$ (1,005)$ 26$ 8,509$
Par Valu e $0.10 pe r share Par Valu e $100 an d $50 pe r share
Cumul ati ve
C om mo n S to ck Pre fe rre d S tock
Accu mu lat ed O th e r C om pre he n sive In com e
The accompanying notes are an integral part of these consolidated financial statements.