ENCANA CORP (ECA) [Rocket]

In millions, except per share items	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K
Revenues:
USA Operations	2,313	1,878	1,770
Canadian Operations	1,821	1,191	1,067
Market Optimization	1,219		646	365	1,248
Corporate, Non-segment	586	511
Other		863		4,057	6,771
Total revenues [+]	5,939	4,443	2,918	4,422	8,019
Oil & gas				3,350	6,238
Other				112	158
Revenue growth [+]	33.7%	52.3%	-34.0%	-44.9%
USA Operations	23.2%	6.1%
Canadian Operations	52.9%	11.6%
Market Optimization			77.0%	-70.8%
Corporate, Non-segment	14.7%
Canadian Division				-45.0%
Cost of goods sold [+]	454	506	598	1,975	2,163
Direct costs				723	667
Natural gas midstream costs				1,252	1,496
Gross profit	5,485	3,937	2,320	2,447	5,856
Gross margin	92.4%	88.6%	79.5%	55.3%	73.0%
Selling, general and administrative [+]	304	366	408	419	537
General and administrative [+]	304	366	408	419	537
General and administrative expenses	157	254	309	419	537
Operating taxes	147	112	99	144	210
Other operating expenses	2,215	1,670	1,538	368	-857
EBITDA [+]	2,966	1,901	374	1,660	6,176
EBITDA growth	56.0%	408.3%	-77.5%	-73.1%
EBITDA margin	49.9%	42.8%	12.8%	37.5%	77.0%
Depreciation and amortization	1,272	833	859	1,488	1,745
EBIT [+]	1,694	1,068	-485	172	4,431
EBIT growth	58.6%	-320.2%	-382.0%	-96.1%
EBIT margin	28.5%	24.0%	-16.6%	3.9%	55.3%
Non-recurring items [+]			1,396	6,473	2,100
Asset impairment			1,396	6,473
Loss (gain) on sale of assets				-14	2,100
Interest expense	335	343	373	642	691
Interest expense	335	343	373	642	691
Other income (expense), net [+]	-196	705	634	-1,067	2,989
Gain (loss) on sale of assets	-5	-404	-390	-14	-3,426
Gain (loss) on foreign currency transactions	168	-279	-210	1,082	403
Other	-17	42	58	27	71
Pre-tax income	1,163	1,430	-1,620	-8,010	4,629
Income taxes	94	603	-676	-2,845	1,203
Tax rate	8.1%	42.2%	41.7%	35.5%	26.0%
Minority interest					34
Net income	1,069	827	-944	-5,165	3,392
Net margin	18.0%	18.6%	-32.4%	-116.8%	42.3%

Basic EPS [+]	$1.11	$0.85	($1.07)	($6.28)	$4.58
Growth	31.1%	-179.5%	-83.0%	-237.2%
Diluted EPS [+]	$1.11	$0.85	($1.07)	($6.28)	$4.58
Growth	31.1%	-179.5%	-83.0%	-237.2%

Dividends per share [+]	$0.06	$0.06	$0.06	$0.28	$0.28
Growth	0.0%	0.0%	-78.6%	0.0%

Shares outstanding (basic) [+]	960	973	883	822	741
Growth	-1.4%	10.3%	7.4%	10.9%
Shares outstanding (diluted) [+]	960	973	883	822	741
Growth	-1.4%	10.3%	7.4%	10.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.