National Grid 2012 Annual Report Download - page 68

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67
The information below highlights the major classes of revenues and expenses of Granite State, EnergyNorth, and Seneca:
2012 2011
Revenues 219$ 233$
Operating expenses:
Fuel and purchase power 117
(1)
131
Operations and maintenance 642
Depreciation and amortization 326
Goodwill and property impairment -78
Operating taxes 10 10
Operating income 83 (54)
Other income (deductions) (1) 7
Income taxes 34 11
Income (loss) from discontinued operations 48$ (58)$
March 31,
(in millions of dollars)
(1) Includes $36 million Ravenswood transfer tax contingency now resolved, as discussed in Note 10, “Commitments and Contingencies.”
Note 14. Subsequent Event
On July 3, 2012, the Company announced the completion of the sale of Granite State and EnergyNorth to Liberty
Energy. Gross proceeds of the sales were $309 million which includes a working capital adjustment of $27 million.