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Income from continuing operations reached $2,882 million, compared to $2,797 million last year, when a non-recurring foreign exchange gain in the amount of $234 million was recognized. This result is primarily attributable to a $290-million increase in Hydro-Québec Production's net electricity exports due especially to a higher sales volume and favorable market conditions. Revenue was up by $1,169 million (11%) to total $12,330 million in 2007. Consolidated Financial Highlights In millions of Canadian dollars 2007 Twelve months ended December 31 2006 Twelve months ended December 31 2005 Twelve months ended December 31 Revenue 12,330 11,161 10,887 Expenditure Operations 2,545 2,394 2,248 Electricity and fuel purchases 1,555 1,315 1,496 Depreciation and amortization 1,991 2,007 2,023 Taxes 816 529 594 Regulatory deferrals 29 (93) (11) Total expenditure 6,936 6,152 6,350 Operating income 5,394 5,009 4,537 Financial expenses 2,512 2,212 2,186 Income from continuing operations 2,882 2,797 2,351 Income (loss) from discontinued operations 25 944 (99) Net income 2,907 3,741 2,252 Dividends declared 2,095 2,342 1,126 Balance sheet summary Total assets 64,852 63,254 60,431 Long-term debt, including current portion and perpetual debt 34,534 34,427 33,007 Equity 20,892 18,840 17,376 Investments for continuing operations affecting cash Property, plant and equipment and intangible assets 3,464 3,348 3,293 Costs related to Energy Efficiency Plan 172 149 91 Total investments 3,636 3,497 3,384 Note: Certain comparative figures have been reclassified to reflect the presentation adopted for 2007. Source: Hydro-Québec.