3. Investments in subsidiaries and interest in joint ventures

Investments in subsidiaries
	For the period
	from 1 January 2014 to 31 December 2014	from 1 January 2013 to 31 December 2013
Beginning of financial period	11 744	11 641
Acquisition of shares	-	43
Acquisition of newly-issued shares	27	86
Recognition of impairment losses	-15	-
Reversal of impairment losses	-	21
Redemption of shares /Redemption of investment certificates of KGHM II FIZAN	(1)	(49)
Discount on receivables due to returnable payments to capital	3	2
Other	2	-
End of financial period	11 760	11 744
Investments in joint ventures
	For the period
	from 1 January 2014 to 31 December 2014	from 1 January 2013 to 31 December 2013
Beginning of financial period	33	33
Recognition of impairment losses	(15)	-
End of financial period	18	33