31 Caribbean Utilities Company, Ltd.  2011  Annual Report Financial Statements Statements of Earnings and Comprehensive Income (Expressed in thousands of United States dollars except Basic and Diluted earnings per Class A Ordinary Share and Weighted Average Number of Class A Ordinary Shares) Twelve  Twelve months ended months ended December 31, 2011 December 31, 2010 Note  $ $ Operating Revenues Electricity sales  69,630 69,517 Fuel factor  148,469 110,579 Total Operating Revenues 218,099 180,096 Operating Expenses  Power generation  151,714 113,214 General and administration  9,254 8,418 Consumer services  1,616 1,718  Transmission and distribution  1,998 2,178 Depreciation of property, plant and equipment  20,570 20,034 Maintenance  7,622 8,284 Amortization of intangible assets  308 336 Total Operating Expenses 193,082 154,182 Operating Income 25,017 25,914 Other (Expenses)/Income Finance charges  18 (8,659) (9,143) Foreign exchange gain  19 2,125 1,785  Other income  1,907 1,323 Total Net Other (Expenses) (4,627) (6,035) Earnings and Comprehensive Income for the Period 20,390 19,879 Preference dividends paid on Class B Shares (906) (953) Earnings on Class A Ordinary Shares 19,484 18,926 Weighted average number of Class A Ordinary Shares issued and fully paid 15 28,523 28,352 Basic Earnings per Class A Ordinary Share 15 0.68 0.67 Diluted Earnings per Class A Ordinary Share 15 0.68 0.67 Dividends declared per Class A Ordinary Share  0.660 0.660 See accompanying Notes to Financial Statements