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Fourth Quarter 2008 Highlights
Earnings applicable to common shareholders were $263.4 million, or $0.72 per share, for the three months ended December 31, 2008, compared with $248.6 million, or $0.70 per share, for the three months ended December 31, 2007. Significant factors that increased earnings included unrealized fair value gains on derivative financial instruments in Aux Sable and Energy Services, AEDC in Liquids Pipelines and a higher contribution from EGD, partially offset by decreased earnings from International as the Company sold its interest in CLH in the second quarter of 2008.