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EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESCONSOLIDATED INCOME STATEMENT (Continued)For the years ending December 31, 2011 and 2010Income statement CumulativeNumberNote01/01/201112/31/2011Th.CLP$01/01/201012/31/2010Th.CLP$CONSOLIDATED income statementEarnings (losses) 180,766,659 172,971,209Components of other consolidated income, before taxForeign currency translationEarnings (losses) for foreign currency translation 1,618,714 (479,497)Cash flow hedgingEarnings (losses) for cash flow hedging 1,002,475 4,096,169Other components of other consolidated income, before tax 2,621,189 3,616,672Income tax related to components of other CONSOLIDATED incomeIncome tax related to cash flow hedging of other consolidated income (175,433) (686,279)Other consolidated income 2,445,756 2,930,393Total consolidated income 183,212,415 175,901,602CONSOLIDATED income attributable toControlling owners 183,212,415 175,901,602Non-controlling stock - -Total consolidated income 183,212,415 175,901,602141Report 2011The attached notes, numbered 1–33, form an integral part of these Consolidated Financial Statements.