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)  22. Segmented information (continued)  Operational segments (continued) Year ended December 31, 2012 Algonquin Power   Liberty Utilities  Corporate  Total  Renewable  Energy  Thermal  Energy Total Central West East Total Revenue Regulated electricity sales and distribution  $ -  $ -  $ -  $ -  $ 71,734  $ 36,723  $ 108,457  $ -  $ 108,457  Regulated gas sales and distribution  -  -  -  25,802  -  49,916  75,718  75,718  Regulated water reclamation and distribution  -  -  -  9,127  37,296  -  46,423  -  46,423  Non-regulated energy sales  84,236  36,914  121,150  -  -  -  -  -  121,150  Waste disposal fees - 14,288 14,288 - - - - - 14,288 Other revenue 1,925 1,680 3,605 - 152 94 246 - 3,851 Total revenue 86,161 52,882 139,043 34,929 109,182 86,733 230,844 - 369,887 Operating expenses 30,308 21,075 51,383 13,096 35,645 30,209 78,950 - 130,333 Regulated electricity purchased - - - - 43,861 24,348 68,209 - 68,209 Regulated gas purchased  - - - 13,648 - 23,813 37,461 - 37,461 Non-regulated fuel for generation - 14,589 14,589 - - - - - 14,589 55,853 17,218 73,071 8,185 29,676 8,363 46,224 - 119,295 Depreciation of property, plant and equipment  (18,823)  (9,977)  (28,800) (3,333) (11,120) (7,129) (21,582) - (50,382) Amortization of intangible assets  (2,653)  (831)  (3,484)  (81)  (586)  -  (667)  -  (4,151)  Administration expenses  (9,424)  (2,212)  (11,636)  294  (4,091)  (1,223)  (5,020)  (2,952)  (19,608)  Foreign exchange gain - - - - - - - 561 561 Interest expense   (15,060)   (2,054)  (17,114)   (96)  (8,066)  (694)  (8,856)   (9,971)   (35,941)  Interest, dividend and other income  2,038  509  2,547  -  2,113  461  2,574  2,118  7,239  Acquisition related costs (3,155) - (3,155) (1,442) - (3,112) (4,554) - (7,709) Gain/(loss) on derivative financial instruments (2,954) - (2,954) - - 3,187 233 Earnings from continuing operations before  income taxes 5,822 2,653 8,475 3,527 7,926 (3,334) 8,119 (7,057) 9,537 Loss from discontinued operations before income  taxes (1,907) - (1,907) - - - - - (1,907) Earnings/(loss) before income taxes $ 3,915  $ 2,653  $ 6,568  $ 3,527  $ 7,926  $ (3,334)  $ 8,119  $ (7,057)  $ 7,630  Property, plant and equipment  $1,157,062 $153,875 $1,310,937 $151,637 $350,053 $350,088 $851,778 $ - $2,162,715 Intangible assets  29,480  6,132  35,612  2,613  18,556  -  21,169  -  56,781  Assets held for sale  24,390  -  24,390  - - - - - 24,390 Total assets   1,272,037  175,173  1,447,210  212,495  464,201  500,374  1,177,070  153,957  2,778,237  Capital expenditures  21,068  10,348 31,416 10,777 23,181 12,488 46,446 67 77,929 Acquisition of operating entities  245,718  -  245,718  128,890  -  295,297  424,187  -  669,905  2012 Annual Report 128