CAPITAL POWER CORPORATION Consolidated Statements of Changes in Equity (In millions of Canadian dollars) 1 Accumulated other comprehensive income (loss). Other reserves on the statements of financial position are the aggregate of accumulated other comprehensive income (loss) and the employee benefits reserve. 76 See accompanying notes to the consolidated financial statements Share capital (note 24) Cash flow hedges 1 Cumulative translation account 1 Defined benefit plan actuarial gains (losses) 1 Employee benefits reserve Retained earnings (deficit) Equity attributable to shareholders of the Company Non- controlling interests Total Equity as at January 1, 2012 $ 1.499 $ (10) $ 17 $ (7) $ 8 $ 16 $ 1,523 $ 1,072 $ 2,595 Net income - - - - - 62 62 28 90 Other comprehensive income (loss): Cash flow derivative hedge gains - 66 - - - - 66 - 66 Reclassification of gains to income - (14) - - - - (14) - (14) Unrealized loss on foreign currency translation - - (10) - - - (10) - (10) Defined benefit plan actuarial losses - - - (8) - - (8) - (8) Tax on items recognized directly in equity - (10) - 2 - - (8) - (8) Attributed to non- controlling interests - (17) 3 - - - (14) 14 - Other comprehensive income (loss) $ - $ 25 $ (7) $ (6) $ - $ - $ 12 $ 14 $ 26 Total comprehensive income (loss) - 25 (7) (6) - 62 74 42 116 Issue of share capital 389 - - - (1) 12 400 (253) 147 Transaction costs (5) - - - - - (5) - (5) Deferred taxes 1 - - - - - 1 - 1 Distributions to non-controlling interests - - - - - - - (39) (39) Additional investment by non-controlling interests - - - - - - - 7 7 Common share dividends (note 24) - - - - - (85) (85) - (85) Preferred share dividends (note 24) - - - - - (6) (6) - (6) Dividends reinvested 19 - - - - - 19 - 19 Share-based compensation - - - - 2 - 2 - 2 Equity as at December 31, 2012 $ 1,903 $ 15 $ 10 $ (13) $ 9 $ (1) $ 1,923 $ 829 $ 2,752