PART 2 – FINANCIAL PERFORMANCE REVIEW SELECTED ANNUAL FINANCIAL INFORMATION Change FOR THE YEARS ENDED DECEMBER 31 (MILLIONS, EXCEPT PER SHARE AMOUNTS) 2013 2012 2011 2013 vs 2012  2012 vs 2011  CONDENSED STATEMENT  OF OPERATIONS Total revenues and other gains  $ 20,830 $ 18,766 $ 15,988 $ 2,064 $ 2,778 Direct costs  (13,928) (13,961) (11,957) 33 (2,004) Other income  525 — — 525 — Equity accounted income  759 1,237 2,199 (478) (962) Expenses Interest  (2,553) (2,500) (2,355) (53) (145) Corporate costs  (152) (158) (168) 6 10 Fair value changes  663 1,153 1,395 (490) (242) Depreciation and amortization  (1,455) (1,263) (905) (192) (358) Income taxes  (845) (519) (515) (326) (4) Net income  3,844 2,755 3,682 1,089 (927) Non-controlling interests  (1,724) (1,375) (1,725) (349) 350 Net income attributable to shareholders  $ 2,120 $ 1,380 $ 1,957 $ 740 $ (577) Net income per share  $ 3.12 $ 1.97 $ 2.89 CONDENSED STATEMENT OF OTHER  COMPREHENSIVE INCOME Fair value changes and other  $ 1,508 $ 1,618 $ 1,919 $ (110) $ (301) Foreign currency translation  (2,429) (110) (834) (2,319) 724 Taxes on above items  (280) (432) (147) 152 (285) Other comprehensive income  (1,201) 1,076 938 (2,277) 138 Non-controlling interests  406 (563) (143) 969 (420) Other comprehensive income  attributable to shareholders  (795) 513 795 (1,308) (282)  Comprehensive income attributable to shareholders  $ 1,325 $ 1,893 $ 2,752 $ (568) $ (859) BALANCE SHEET INFORMATION AS AT DECEMBER 31 (MILLIONS) Consolidated assets  $ 112,745 $ 108,862 $ 91,236 $ 3,883 $ 17,626 Borrowings and other non-current  financial liabilities  53,061 51,887 42,383 1,136 9,504 Equity  47,526 44,338 37,489 3,188 6,849 Dividends declared for each class of issued securities for the three most recently completed years are presented on page 33. 18 BROOKFIELD ASSET MANAGEMENT 