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Excluding the reduction in the carrying amount of property and equipment and unrealized hedging gains and losses from the determination of net income (loss) for each of 2014 and 2013, the Company would have reported net income of $13.4 million in 2014 and $1.3 million in 2013, respectively $0.12 and $0.02 per share. These amounts are non- GAAP measurements of net income from the Company’ s core business before non-cash adjustments relating to impairment charges and potential income from hedges expiring in future years. 

## Other Comprehensive Income 

Other comprehensive income comprises net income for the year plus unrealized gains and losses resulting from the mark-to-market valuation of certain assets and liabilities. In the first half of 2013, Storm’ s other comprehensive income comprised adjustments to reflect the period-end mark-to-market valuation of listed securities. In subsequent reporting periods, IFRS required that mark-to-market declines in the value of such securities be included in the determination of income or loss for the period, while mark-to-market increases remain in other comprehensive income. 

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(1) Shares owned at December 31, 2014. 

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Non-GAAP funds from operations for 2014 increased by 107% from the prior year. Non-GAAP funds from operations is not a measure recognized by GAAP, although it is widely used by investors, analysts and other financial statement users. It is also used by the Company’ s banking syndicate to determine debt-to-cash-flow ratios and other measures of credit worthiness and thus determines interest rates on borrowings. The most directly comparable measure under GAAP is cash flows from operating activities, as follows. 

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The reconciling item between funds from operations and cash flows from operating activities is the change in non- cash operating working capital items. 

