Financial Highlights

($ millions except per share amounts) 2019 2018 2017 2016 2015
Revenue 5,495 4,257 2,556 2,190 2,193
Normalized EBITDA(1) 1,271 1,009 797 701 582
  Utilities 657 426 298 277 257
  Midstream 501 277 221 163 172
  Power 154 320 303 285 177
  Corporate (41) (14) (25) (24) (24)
Net income applicable to common shares 769 (502) 30 155 10
Normalized net income (1) 324 195 204 153 140
Total assets 19,795 23,488 10,032 10,201 10,100
Total long-term liabilities 9,301 11,746 4,578 4,589 4,949
Net additions to property, plant and equipment (1,090) 573 388 405 1,150
Dividends declared 266 463 362 320 260
Cash flows          
  Normalized funds from operations (1) 895 657 615 554 470
($ per basic share, except shares outstanding and debt to capitalization ratio)
Net income - basic 2.78 (2.25) 0.18 0.99 0.07
Net income - diluted 2.77 (2.25) 0.18 0.99 0.07
Normalized net income (1) 1.17 0.88 1.19 0.98 1.02
Dividends declared 0.96 2.09 2.12 2.03 1.89
Cash flows          
  Normalized funds from operations (1) 3.23 2.95 3.60 3.52 3.41
Shares outstanding - basic (millions)          
  During the period (2) 277 223 171 157 138
  End of period 279 275 175 167 146
Debt-to-total capitalization ratio (%) 49 57 44 45 46

Notes:

(1) Non-GAAP financial measure; see discussion in Non-GAAP Financial Measures section of the MD&A.
(2) Weighted average.