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## SECTION TITLE FINANCIAL HIGHLIGHTS 

In 2001, TransCanada delivered on its commitment to provide solid, stable returns to shareholders, underpinned by profitable investments in our core businesses. Through the disciplined execution of our strategy to divest non-core assets, pay down debt and continually reduce operating costs, we further strengthened our balance sheet and increased discretionary cash flow. 

As a result of our efforts, total shareholder return in 2001 was 21 per cent. In January 2002, the Board of Directors increased the quarterly dividend by 11 per cent, reflect- ing continued, sustainable growth in cash flow and earnings from continuing operations and significant improvements in their quality and predictability. 

## OPERATING RESULTS 

December 31 (millions of dollars) 

<img src='content_image/97842.jpg'>

*Earnings before interest expense, income taxes, depreciation and amortization. 

## COMMON SHARE STATISTICS 

Year ended December 31 

<img src='content_image/97846.jpg'>

<img src='content_image/97848.jpg'>

<img src='content_image/97847.jpg'>

