Consolidated Income

Year ended December 31
(millions of dollars except per share amounts)
2011  2010  2009 
Revenues 9,139  8,064  8,181 
       
Operating and Other Expenses      
Plant operating costs and other 3,449  3,114  3,213 
Commodity purchases resold 941  1,017  831 
Depreciation and amortization 1,528  1,354  1,377 
Valuation provision for MGP (Note 9) –  146  – 
  5,918  5,631  5,421 
       
Financial Charges/(Income)      
Interest expense (Note 13) 937  701  954 
Interest expense of joint ventures (Note 14) 55  59  64 
Interest income and other (55) (94) (121)
  937  666  897 
Income before Income Taxes 2,284  1,767  1,863 
       
Income Tax Expense/(Recovery) (Note 12)      
Current 209  (141) 30 
Future 364  521  357 
  573  380  387 
       
Net Income 1,711  1,387  1,476 
Net Income Attributable to Non-Controlling Interests (Note 16) 129  115  96 
Net Income Attributable to Controlling Interests 1,582  1,272  1,380 
Preferred Share Dividends (Note 18) 55  45 
Net Income Attributable to Common Shares 1,527  1,227  1,374 
       
Net Income per Common Share (Note 17)      
Basic $2.18  $1.78  $2.11 
Diluted $2.17  $1.77  $2.11 

The accompanying notes to the consolidated financial statements are an integral part of these statements.