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## ALGONQUIN POWER & UTILITIES CORP. 

Notes to the Consolidated Financial Statements 

December 31, 2012 and 2011 

 (in thousands of Canadian dollars except as noted and amounts per share) 

## 17. Income taxes (continued) 

As at December 31, 2012, the Company had non-capital losses carry forwards available to reduce future year’s taxable income, which expire as follows: 

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## 18. Sale of Small U.S. Hydro Facilities 

On March 14, 2013, APCo entered into an agreement to sell 10 small U.S. hydroelectric generating facilities that were no longer considered strategic to the ongoing operations of the Company for gross proceeds of U.S. $27,000. In August 2012, APCo sold another small U.S. Hydro facility for gross proceeds of $350 for a loss on sale, net of tax of $253 which is included in the loss from discontinued operations. The operating results from these facilities are therefore disclosed as discontinued operations on the consolidated statements and prior periods have been reclassified to conform to this presentation. 

The summary of operating results and cash flows from discontinued operations for the years ended December 31 is as follows: 

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Assets held-for-sale as at December 31, were as follows: 

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