Question-and-Answer Session
Operator
(Operator Instructions). And your first question comes from the line of Gordon Howald from Calyon. Please proceed.
Gordon Howald - Calyon
Hi, good morning guys.
John Somerhalder
Hi, Gordon.
Andrew Evans
Hi, Gordon.
John Somerhalder
Good morning.
Gordon Howald - Calyon
I noticed, you no longer normalize your earnings for the quarter or for -- you didn't do that for the year, you had done that, I guess, as recently as the third quarter. Could you go through and try to normalize for the gains and losses, these hedging activities, the low comps, things like that? I have got an estimate here. But I was wondering if you guys could provide a little bit of color on what kind of an increase, on a year-over-year basis or decrease you would have as a result of those non-operating activities?
Andrew Evans
Yes. Gordon the principal reason that we didn't do it at year-end is that it's a much more relevant measure for us intra-period. But also, we didn't -- we're not asking for an addition of earnings that are not properly reflected in GAAP earnings. You can kind of see from the roll out schedule that we are not asking for inclusion of anything that might be in that schedule. The other principal component and I should say, by the way, that schedule represents the zero roll out related to storage.
We also have a number -- or saw an increase in other economic activity related to transportation and parking loans and we don't have roll out schedules for those particular items and didn't feel like making the adjustment, [gave] a really good feel for earnings in their entirety. GAAP is a really good representation of our earnings power for the business for this particular year.
Gordon Howald - Calyon
And that's going to be going forward as well, Andrew?
Andrew Evans
I think if we saw large changes in gas price that created significant losses in a particular period and push them into a future, we would just highlight that change, as we have done in the intra quarters or in the quarterly segments throughout the year.
Gordon Howald - Calyon
Okay, two more quick questions. Do you expect to have full blown rate cases for the upcoming rate cases over the next couple of years, or is there a possibility for settlements?
Hank Linginfelter
Hi, Gordon. This is, Hank. I think we will have full blown rate cases with the potential for settlements. In other words, the regulators generally want to have full hearings with testimony and following there is always a potential for settlements. In fact that is what New Jersey did with NJR, but it was only after they heard all the evidence and testimony. But we would like to see some, as we think they are possible, in New Jersey and Georgia which are the next two cases.
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