CONSOLIDATED STATEMENTS OF INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the year ended Notes Dec 31, 2013 Dec 31, 2012 (note 2) Cumulative differences on translation of foreign operations 27,397 6,478 Other comprehensive income from equity accounted investments 11a 1,183 702 Gains (losses) on financial instruments designated as cash flow hedges (net of tax in 2013 – ($325), 2012 – $13, respectively) ( ) g 490 (642) Total of items that may be reclassified subsequently to net income 29,070 6,538 Actuarial gains (losses) recognized in respect of retirement benefit obligations (net of tax in 2013 – ($693), 2012 – $7,498, respectively) - will not be reclassified to net g ( ) g p g income 15 2,884 (20,085) Other comprehensive income (loss) 31,954 (13,547) Net income (loss) 67,210 45,971 Total comprehensive income (loss) 99,164 32,424 Comprehensive income (loss) attributable to: Shareholders of Capstone 60,626 21,611 Non-controlling interest 22 38,538 10,813 99,164 32,424 ($000s, except per share amounts) For the year ended Notes Dec 31, 2013 Dec 31, 2012 (note 2) Revenue 389,503 357,610 Operating expenses 25 (204,534) (195,732) Administrative expenses 25 (10,369) (11,070) Project development costs 25 (5,530) (365) Equity accounted income (loss) 11a (2,638) 2,294 Interest income 9b 4,096 4,886 Net pension interest income 15 1,817 2,934 Other gains and (losses), net 26 9,789 1,294 Foreign exchange gain (loss) 2,924 1,620 Earnings before interest expense, taxes, depreciation and amortization 185,058 163,471 Interest expense 9b (47,471) (49,168) Depreciation of capital assets 12 (51,183) (47,432) Amortization of intangible assets 14 (10,984) (10,120) Earnings before income taxes 75,420 56,751 Income tax recovery (expense) Current (2,004) 239 Deferred (6,206) (11,019) Total income tax recovery (expense) 16d (8,210) (10,780) Net income (loss) 67,210 45,971 Net income (loss) attributable to: Shareholders of Capstone 41,362 28,243 Non-controlling interest 22 25,848 17,728 67,210 45,971 Earnings per share 23 Basic 0.462 0.315 Diluted 0.425 0.315 See accompanying notes to these consolidated financial statements 2013 ANNUAL REPORT  55