Energias do Brasil SA and subsidiaries - EDP no Brasil | Investidores

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EDP – ENERGIAS DO BRASIL S.A. NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2009 AND 2008 (Amounts expressed in thousands of Reais, unless otherwise indicated) Distribution activity Type of equipment % Type of equipment % Paralell capacitor bank lower than 69kV 6.7 Voltage regulator equal or higher than 69 kV 3.5 Serial capacitor bank 5.0 Recloser 4.3 Switch lower than 69kV 6.7 Distribution transformer 5.0 Reactance compensator 3.3 Power transformer 2.5 Conductor lower than 69kV 5.0 Meter transformer 3.0 Circuit breaker 3.0 Auxiliary services transformer 3.3 Construction - power house 2.0 Parallel capacitor bank equal or higher than 69kV 5.0 Construction - other 4.0 Switch equal or higher than 69kV 3.3 Structure (pole, tower) lower than 69kV 5.0 Conductor equal or higher than 69kV 2.5 Meter 4.0 Structure (pole, tower) equal or higher than 69kV 2.5 Panel, control desk and switchgear 3.0 Voltage regulator lower than 69 kV 4.8 Generation activity Other activity Type of equipment % Type of equipment % Gate 3.3 Edification 4.0 Edification - power house 2.0 Equipment geral 10.0 Edification - Others 4.0 Vehicles 20.0 Generator 3.3 Reservoir, barrage and water main 2.0 Turbine of hydroelectric 2.5 Urbanize e improvement 4.0 The special obligations, shown as adjustment accounts of Fixed assets, refer mainly to funds received from consumers earmarked for the execution of ventures necessary for the fulfillment of requests for supply of electric energy. These obligations are directly related to the Concession of the Electricity Public Utility Service and, in accordance with Regulatory Resolution 234 of October 31, 2006, and Directive Release SFF/ANEEL 1,314/2007, of June 27, 2007 begin to be amortized as of the 2nd periodic tariff review, by a rate defined by ANEEL corresponding to the average depreciation rate of the assets in service linked to the electric distribution system and also in the proportion of the corresponding disabled assets. In compliance with the requirements of ANEEL, through Order nº 294, of February 1, 2008, effective from January 1st, 2008, the subsidiaries implement the capitalization procedure of the portion of 10 (ten) percent of the expenditures with central administration, with a basis on the direct costs of personnel and outsourced services allocated to orders in progress (note 16.3), mainly those related to the increases to Fixed assets in progress, recording in contra account, by transfer, to credit from the statement of income - Operating expenses - General and administrative. Under the terms of the current tariff regulations, these expenditures are recognized as indirect additional costs incorporable to fixed assets, forming an integral part of the Regulatory Remuneration Basis of the distributor subsidiaries, and are therefore computed in the calculation basis of the electricity and distribution system usage tariffs. Repairs and maintenance are allocated to net income during the period in which they are incurred. The cost of the main renewals is included in the book value of the asset when it is likely that the future economic benefits that surpass the standard of performance initially evaluated for the existing asset will flow to the Company. The main renewals are depreciated over the course of the remaining useful life of the related asset. g) Intangible assets (Note 17) Intangible assets involve assets acquired from third parties, including by means of business combination, and those generated internally by the Company and its subsidiaries, substantially represented by expenditures in the implementation of software and development of projects. The following criteria are applied: • Acquired from third parties by means of business combination: Goodwill determined in acquisitions involving business combinations; • Intangible assets acquired from third parties: these are measured by the total cost of purchase, less amortization expenses. • Intangible assets generated internally: they are only recognized as assets only in the development phase provided the following aspects are demonstrated: a) Technical viability to conclude the intangible asset so that it is available for use or sale; b) Intention to conclude the intangible asset and to use it or sell it; c) Capacity to use or sell the intangible asset; d) Demonstrate the existence of market or other means of accruing economic benefits; e) Availability of technical and financial resources; 42
EDP – ENERGIAS DO BRASIL S.A. NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2009 AND 2008 (Amounts expressed in thousands of Reais, unless otherwise indicated) f) Capacity to accurately measure the expenditures attributable to the intangible asset during its development. • Goodwill absorbed – refers to the spun-off portion of goodwill absorbed in the subsidiaries Bandeirante, Escelsa and Lajeado Energia, resulting from the acquisition of shares of the abovementioned Companies, which was accounted for in accordance with CVM Instructions nº 319/99 and nº 349/99 and, pursuant to the determination of ANEEL, is being amortized by the curve between the expectation of future results and the concession period of the Companies. • The permanent rights of way are recorded at cost. h) Other current and non-current assets These are show at cost or realizable value, including, when applicable, income accrued up to the balance sheet date. i) Suppliers (Note 18) Mainly includes balances payable to suppliers of electric energy and of charges on the use of the electricity network. Obligations in foreign currency are recognized at fair value through net income for the year, restated by the quotation of the currency on the balance sheet date. j) Loans and financing, debt charges and debentures (Notes 19 and 20) Loans and financing and debentures in national currency are measured by the amortized cost using the effective interest rate method. k) Provisions for contingencies (Note 24) These are recognized in the balance sheet as a result of a past event, and it is probable that an economic resource will be required to settle the obligation. Provisions are recorded considering the best estimates of the risk specific to the liability. l) Other current and non-current liabilities Stated at the known or estimated amounts, plus, when applicable, the corresponding charges, monetary and exchange variations incurred up to the balance sheet date. m) Income and social contribution taxes (Notes 9, 10 and 30) Current income and social contribution taxes recorded in income are calculated, at the subsidiaries CESA, Costa Rica, Pantanal, Santa Fé and Evrecy with a basis on the deemed taxable income, at the rates applicable according to the legislation in force, and at the parent company and other subsidiaries, current income tax is calculated with a basis on the taxable income (adjusted income), at the rates applicable according to the legislation in force 15%, plus 10% on the taxable income that exceeds R$240 per annum, and current social contribution is calculated with a basis on taxable income before income tax, through the application of the rate of 9%, both considering the offsetting of tax loss carryforward and negative social contribution basis, respectively, limited to 30% of the taxable income. Deferred income and social contribution tax assets were recorded under the heading of deferred income and social contribution taxes, as of the tax loss carryforward, negative social contribution basis and temporary differences, considering the rates in force of the aforementioned taxes, in accordance with the provisions of CVM Resolution 273, of August 20, 1998 and CVM Instruction 371, of June 27, 2002 and consider past profitability record and expectations of future taxable income based on a technical viability study. For purposes of calculating the taxable income and its effects on the financial statements, the Company and its subsidiaries considered the adoption of the Transitory Tax Regime - RTT, as determined in MP nº 449/08 (converted into Law no. 11.941/09), the option for which was confirmed upon the delivery of the income statement for the year 2008, delivered on October 15, 2009. n) Post-employment benefits (Note 21) The sponsorship costs of the pension plans and any deficits (surpluses) of the plans are accounted for in compliance with CVM Resolution nº 371/00 and NPC nº 26 of IBRACON. 43
Page 1 and 2: EDP - Energias do Brasil S.A. and s
Page 3 and 4: 3 2009 MANAGEMENT REPORT income amo
Page 5 and 6: REGULATORY ENVIRONMENT TARIFF REVIE
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Page 9 and 10: EXPANSION OF CAPACITY DISTRIBUTION
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Page 15 and 16: 15 2009 MANAGEMENT REPORT In the ca
Page 17 and 18: 17 2009 MANAGEMENT REPORT Bandeiran
Page 19 and 20: OWNERSHIP STRUCTURE 19 2009 MANAGEM
Page 21 and 22: 21 2009 MANAGEMENT REPORT (b) that
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Page 25 and 26: Research & Development (R&D) 25 200
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Financial assets EDP - ENERGIAS DO
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Net revenues 1,136,436 Electricity
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Energias do Brasil SA and subsidiaries - EDP no Brasil | Investidores

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