CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF OPERATIONS  AND COMPREHENSIVE INCOME For the years ended December 31, 2013 and 2012 Year ended December 31 (millions of Canadian dollars, except per share amounts) 2013 2012 Revenues  Distribution (includes $160 related party revenues; 2012 – $155)  (Note 20) 4,484 4,184 Transmission (includes $1,517 related party revenues; 2012 – $1,482)  (Note 20) 1,529 1,482 Other  61 62 6,074 5,728 Costs Purchased power (includes $2,500 related party costs; 2012 – $2,409)  (Note 20) 3,020 2,774 Operation, maintenance and administration  (Note 20) 1,106 1,071 Depreciation and amortization  (Note 5) 676 659 4,802 4,504 Income before financing charges and provision for  payments in lieu of corporate income taxes 1,272 1,224 Financing charges  (Note 6) 360 358 Income before provision for payments in lieu of corporate income taxes 912 866 Provision for payments in lieu of corporate income taxes  (Notes 7, 20) 109 121 Net income 803 745 Other comprehensive income  – 1 Comprehensive income  803 746 Basic and fully diluted earnings per common share  (dollars) (Note 18) 7,850 7,280 Dividends per common share declared (dollars) (Note 19) 2,000 3,523 See accompanying notes to Consolidated Financial Statements. 50 HYDRO ONE ANNUAL REPORT 2013