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This excerpt taken from the PBR 6-K filed Aug 18, 2009. Page 141
The increase in the negative result was due to the upturn in the negative financial result (R$ 1,440 million), as dealt with on page 6, and the minority interest result, reflecting the impact of appreciation of the Real against the dollar on the debt of Special Purpose Companies and controlled companies that are not wholly-owned by Petrobras or its subsidiaries. These effects were partially offset by the increase in income tax and social contribution credits due to the tax benefit generated by provisions for interest on equity.
The increase in the negative result was due to the upturn in the negative financial result (R$ 1,612 million), as mentioned on page 10, and the minority interest result, despite the increase in income tax and social contribution credits. |
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