Algonquin Power & Utilities Corp. – Consolidated Financial Statements ALGONQUIN POWER & UTILITIES CORP.  Notes to the Consolidated Financial Statements  December 31, 2012 and 2011   (in thousands of Canadian dollars except as noted and amounts per share)  2012 Annual Report 129 Algonquin Power   Liberty Utilities  Corporat e Total Renewable  Energy  Thermal  Energy Total Central West East Total Revenue Regulated electricity sales and distribution  $ -  $ -  $ -  $ -  $ 77,368  $ -  $77,368  $ -  $ 77,368  Regulated water reclamation and distribution  - - -  8,850  36,139  -  44,989  - 44,989 Non-regulated energy sales  81,645  46,666  128,311  -  -  -  -  -  128,311  Waste disposal fees - 16,406 16,406 - - - - - 16,406 Other revenue 2,291 1,352 3,643 - - - - - 3,643 Total revenue  83,936  64,424  148,360  8,850  113,507  -  122,357  -  270,717  Operating expenses 25,400 19,857 45,257 4,270 34,453 - 38,723 38 84,018 Regulated electricity purchased - - - - 46,508 - 46,508 - 46,508 Non-regulated fuel for generation - 24,628 24,628 - - - - - 24,628 58,536 19,939 78,475 4,580 32,546 - 37,126 (38) 115,563 Depreciation of property, plant and equipment  (15,498)  (10,684)  (26,182)  (956)  (10,850)  -  (11,806)  -  (37,988)  Amortization of intangible assets  (3,007)  (2,735)  (5,742)  (81)  (610)  -  (691)  -  (6,433)  Administration expenses  (8,915)  (2,504)  (11,419)  (53)  (1,087)  -  (1,140)  (4,975)  (17,534)  Write down of long-lived assets  (678)  (13,430)  (14,108)  (1,058)  (1,058)  -  (15,166)  Foreign exchange loss - - - - - - - 652 652 Interest expense  (9,834)  (2,228)  (12,062)  (61)  (7,404)  -  (7,465)  (10,910)  (30,437)  Interest, dividend and other income  2,143  (6)  2,137  -  488  -  488  3,034  5,659  Acquisition related costs - - - - (2,767) - (2,767) (198) (2,965) Loss on derivative financial instruments (1,068) - (1,068) - - - - (4,776) (5,844) Earnings from continuing operations before  income taxes 21,679 (11,648) 10,031 3,429 9,258 - 12,687 (17,211) 5,507 Loss from discontinued operations before  income taxes (1,244) - (1,244) - - - - - (1,244) Earnings/(loss) before income taxes $ 20,435  $ (11,648)  $ 8,786  $ 3,429  $ 9,258  $ -  $ 12,687  $ (17,211)  $ 4,263  Property, plant and equipment  $398,037  $155,507  $553,544  $188,562  $178,003  $ -  $366,565  $ -  $920,109  Intangible assets  25,863  7,088  32,951  19,565  2,753  -  22,318  -  55,269  Assets held for sale 25,847 - 25,847 - - - - - 25,847 Total assets 482,543 176,269 658,812 228,597 212,035 - 440,632 182,863 1,282,307 Capital expenditures  25,610  13,601  39,211  774  20,393  -  21,167  367  60,745  Acquisition of operating entities  - - - -  100,058  -  100,058  -  100,058  Year ended December 31, 2011  23. Segmented information (continued)  Operational segments (continued)