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Energy Revenue and Megawatt hours (MWh) At Market and Contracted byFacility Type Twelve Months Ended December 31, ---------------------------------------------------- 2012 2011 ------------------------- ------------------------- % of % of Revenue Volume Total Revenue Volume Total (a) (a),(b) Volume (a) (a),(b) Volume -------- -------- ------- -------- -------- -------EfW At Market $ 36 0.83 15% $ 79 1.30 23% Contracted & Hedged 270 3.96 71% 227 3.39 61% -------- -------- ------- -------- -------- -------Total EfW $ 306 4.79 86% $ 306 4.69 84%Biomass At Market $ 13 0.37 7% $ 12 0.25 5% Contracted 48 0.36 7% 58 0.60 11% -------- -------- ------- -------- -------- -------Total Biomass $ 61 0.73 14% $ 70 0.85 16% -------- -------- ------- -------- -------- -------Total $ 367 5.52 100% $ 376 5.54 100% ======== ======== ======= ======== ======== =======(a) Covanta share only(b) Steam converted to MWh (0.7M MWh for both 2012 and 2011)Projected Energy Megawatt hours (MWh) At Market and Contracted by FacilityType (a) Full Year 2013E As of January 1, 2013 ----------------EfW At Market 1.0 Contracted & Hedged 4.5 ----------------Total EfW 5.5Biomass(b) At Market 0.3 Contracted 0.4 ----------------Total Biomass 0.7 ----------------Total 6.2 ================(a) Covanta share only(b) Additional 0.4 million MWh of Biomass energy is economically dispatched, but available to run Exhibit 11BCovanta Holding Corporation - Americas SegmentStatistics - (Unaudited, in millions, except percentages, metal tons (inthousands), and pricing data in Economic Drivers Section)Recycled Metal Net Revenue by Type (a) Twelve Months Ended December 31, ------------------------- 2012 2011 ------------ ------------Ferrous Metal $ 58 $ 60Non-Ferrous Metal 14 14 ------------ ------------Total $ 72 $ 74 ============ ============(a) Covanta share onlyRecycled Metal Net Tons Recovered by Type (a),(b) Twelve Months Ended December 31, ------------------------- 2012 2011 ------------ ------------Ferrous Metal 309.0 312.0Non-Ferrous Metal 14.7 14.0 ------------ ------------Total 323.7 326.0 ============ ============(a) Net volume: Covanta share only(b) Tons in thousandsRecycled Metal Gross Tons Recovered by Type (a),(b) Twelve Months Ended December 31, ------------------------- 2012 2011 ------------ ------------Ferrous Metal 415.0 414.0Non-Ferrous Metal 16.8 15.9 ------------ ------------Total 431.8 429.9 ============ ============(a) Gross volume: Both Covanta and client share(b) Tons in thousandsPublished Industry U.S. Economic Drivers (a) As of December 31, ------------------------ 2012 2011 ----------- -----------Consumer Price Index (b) 1.7% 3.0%PJM Pricing (Electricity)(c) $ 34.76 $ 48.31Henry Hub Pricing (Natural Gas) (d) $ 2.75 $ 4.04#1 HMS Pricing (Ferrous Metals) (e) $ 368 $ 410Scrap Metals - Old Sheet & Old Cast (f) $ 0.72 $ 0.77(a) While these drivers impact our business, there is not an exact correlation between our results and changes in these metrics.(b) Represents the year-over-year percent change in the Headline CPI number. The Consumer Price Index (CPI-U) data is provided by the U.S. Department of Labor Bureau of Labor Statistics.(c) Average price per MWh for full year 2012 and 2011. Pricing for the PJM PSEG Zone is provided by the PJM ISO.(d) Average price per MMBtu for full year 2012 and 2011. The Henry Hub Pricing data is provided by the Natural Gas Weekly Update, Energy Information Administration, Washington, DC. Nebraska Energy Office, Lincoln, NE.(e) Average price per gross ton for full year 2012 and 2011. The #1 Heavy Melt Steel (HMS) composite index ($/gross ton) price is published by American Metal Market.(f) Average price per pound for full year 2012 and 2011. Calculated using high and low prices for Old Sheet & Old Cast Scrap Metals ($/lb) published by American Metal Market.
