Financial Highlights

($ millions except per share amounts)		2020	2019	2018	2017	2016
Revenue		5,587	5,495	4,257	2,556	2,190
Normalized EBITDA⁽¹⁾⁽²⁾		1,310	1,302	1,009	797	701
	Utilities⁽²⁾⁽³⁾	788	698	426	298	277
	Midstream⁽²⁾⁽³⁾	473	531	277	221	163
	Power⁽³⁾	-	-	320	303	285
	Corporate⁽³⁾	-	-	(14)	(25)	(24)
	Corporate/Other⁽³⁾	49	73	-	-	-
Net income (loss) applicable to common shares		486	769	(502)	30	155
Normalized net income⁽¹⁾⁽²⁾		396	347	195	204	153
Total assets		21,532	19,795	23,488	10,032	10,201
Total long-term liabilities		11,264	9,301	11,746	4,578	4,589
Net additions (dispositions) to property, plant and equipment		825	(1,090)	573	388	405
Dividends declared		268	266	463	362	320
Cash flows
	Normalized funds from operations⁽¹⁾	1,003	895	657	615	554
($ per basic share, except shares outstanding and debt to capitalization ratio)
Net income (loss) - basic		1.74	2.78	(2.25)	0.18	0.99
Net income (loss) - diluted		1.74	2.77	(2.25)	0.18	0.99
Normalized net income⁽¹⁾⁽²⁾		1.42	1.25	0.88	1.19	0.98
Dividends declared		0.96	0.96	2.09	2.12	2.03
Cash flows
	Normalized funds from operations⁽¹⁾	3.59	3.23	2.95	3.60	3.52
Shares outstanding - basic (millions)
	During the period⁽⁴⁾	279	277	223	171	157
	End of period	279	279	275	175	167
Debt-to-total capitalization ratio (%)		52	49	57	44	45

Notes:

⁽¹⁾ Non-GAAP financial measure; see discussion in Non-GAAP Financial Measures section of the MD&A.
⁽²⁾ Beginning in 2020, Management no longer adjusts normalized EBITDA or normalized net income for changes in the fair value of natural gas optimization inventory. As such, 2019 balances have been adjusted to reflect the impacts of this change.
⁽³⁾ In 2020, AltaGas revised its reportable segments to align with the structure of its business following asset sales completed as part of its 2019 asset monetization program. Beginning in 2020, AltaGas has two operating segments: Utilities (which includes the WGL retail marketing business) and Midstream. The Corporate/Other segment consists of AltaGas' corporate activities and a small portfolio of remaining power assets. Segment totals for 2019 have been adjusted to reflect the impacts of this change.
⁽⁴⁾ Weighted average.