Macquarie Infrastructure 8-K Results of Operations and Financial Condition

Exhibit 99.1

	Three months ended March 31,						Change (from 2008 to 2009) Favorable/(Unfavorable)
	2009 (1)			2008 (1)			$			%
	($ in Thousands) (Unaudited)
Net (loss) income from continuing operations		(46,602	)		699
Interest expense, net		33,499			21,467
(Benefit) provision for income taxes		(32,565	)		2,182
Depreciation (2)		13,150			6,723
Depreciation - cost of services (2)		1,463			1,476
Amortization of intangibles (3)		30,265			9,923
Goodwill impairment		18,000			-
Loss on derivative instruments		25,238			382
Equity in earnings and amortization charges of investees (4)		-			2,089
Other non-cash (income) expense		(342	)		838
EBITDA excluding non-cash items from continuing operations		42,106			45,779			(3,673	)	(8.0	%)
EBITDA excluding non-cash items from continuing operations		42,106			45,779
Interest expense, net		(33,499	)		(21,467	)
Non-cash derivative losses recorded in interest expense		6,987			-
Amortization of debt financing costs		1,167			1,317
Equipment lease receivables, net		766			508
Benefit/provision for income taxes, net of changes in deferred taxes		(525	)		(3,954	)
Changes in working capital		1,109			(7,727	)
Cash provided by operating activities		18,111			14,456
Changes in working capital		(1,109	)		7,727
Maintenance capital expenditures		(1,542	)		(4,887	)
Free cash flow from continuing operations		15,460			17,296			(1,836	)	(10.6	%)

(1) Reclassified to conform to current period presentation.

(2) Depreciation - cost of services includes depreciation expense for District Energy which is reported in cost of services in our consolidated statements of operations. Depreciation and Depreciation - cost of services do not include step-up depreciation expense of $1.7 million for each quarter in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(3) Amortization of intangibles does not include step-up amortization expense of $283,000 for each quarter related to intangible assets in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(4) Equity in earnings and amortization charges of investees in the above table includes our 50% share of IMTT's earnings offset by distributions we received only up to our share of the earnings recorded.

	Six months ended June 30,						Change (from 2008 to 2009) Favorable/(Unfavorable)					Quarter ended June 30,					Change (from 2008 to 2009) Favorable/(Unfavorable)
	2009 (1)			2008 (1)			$			%			2009 (1)		2008 (1)		$			%
	($ in Thousands) (Unaudited)
Net (loss) income from continuing operations		(73,614	)		10,883								(27,012	)	10,184
Interest expense, net		35,569			43,097								2,070		21,630
(Benefit) provision for income taxes		(37,387	)		2,939								(4,822	)	757
Depreciation (2)		22,420			13,038								9,270		6,315
Depreciation - cost of services (2)		2,965			2,952								1,502		1,476
Amortization of intangibles (3)		42,797			20,100								12,532		10,177
Goodwill impairment		71,200			-								53,200		-
Loss on derivative instruments		25,238			1,045								-		663
Equity in earnings and amortization charges of investees (4)		(8,477	)		-								(8,477	)	(2,089	)
Base management and performance fees settled/to be settled in LLC interests		851			-								851		-
Other non-cash expense		78			1,332								420		494
EBITDA excluding non-cash items from continuing operations		81,640			95,386			(13,746	)	(14.4	%)		39,534		49,607			(10,073	)	(20.3	%)
EBITDA excluding non-cash items from continuing operations		81,640			95,386								39,534		49,607
Interest expense, net		(35,569	)		(43,097	)							(2,070	)	(21,630	)
Non-cash derivative gains recorded in interest expense		(13,065	)		-								(20,052	)	-
Amortization of debt financing costs		2,514			2,465								1,347		1,148
Equipment lease receivables, net		1,176			1,113								410		605
Benefit/provision for income taxes, net of changes in deferred taxes		(744	)		(1,278	)							(219	)	2,676
Changes in working capital		3,810			(5,961	)							2,701		1,766
Cash provided by operating activities		39,762			48,628								21,651		34,172
Changes in working capital		(3,810	)		5,961								(2,701	)	(1,766	)
Maintenance capital expenditures		(3,235	)		(8,196	)							(1,693	)	(3,309	)
Free cash flow from continuing operations		32,717			46,393			(13,676	)	(29.5	%)		17,257		29,097			(11,840	)	(40.7	%)

(1) Reclassified to conform to current period presentation.

(2) Depreciation - cost of services includes depreciation expense for District Energy which is reported in cost of services in our consolidated statements of operations. Depreciation and Depreciation - cost of services do not include step-up depreciation expense of $1.7 million for each quarter in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(3) Amortization of intangibles does not include step-up amortization expense of $283,000 for each quarter related to intangible assets in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(4) Equity in earnings and amortization charges of investees in the above table includes our 50% share of IMTT's earnings offset by distributions we received only up to our share of the earnings recorded.

	Nine months ended September 30,						Change (from 2008 to 2009) Favorable/(Unfavorable)					Quarter ended September 30,					Change (from 2008 to 2009) Favorable/(Unfavorable)
	2009 (1)			2008 (1)			$			%			2009 (1)		2008 (1)		$			%
	($ in Thousands) (Unaudited)
Net (loss) income from continuing operations		(90,504	)		13,250								(16,890	)	2,367
Interest expense, net		74,869			65,200								39,300		22,103
(Benefit) provision for income taxes		(36,403	)		6,093								984		3,154
Depreciation (2)		29,597			20,139								7,177		7,101
Depreciation - cost of services (2)		4,506			4,354								1,541		1,402
Amortization of intangibles (3)		51,923			30,263								9,126		10,163
Goodwill impairment		71,200			-								-		-
Loss on derivative instruments		25,238			1,897								-		852
Equity in earnings and amortization charges of investees (4)		(9,655	)		-								(1,178	)	-
Base management and performance fees settled/to be settled in LLC interests		2,490			-								1,639		-
Other non-cash expense		1,069			1,810								991		478
EBITDA excluding non-cash items from continuing operations		124,330			143,006			(18,676	)	(13.1	%)		42,690		47,620			(4,930	)	(10.4	%)
EBITDA excluding non-cash items from continuing operations		124,330			143,006								42,690		47,620
Interest expense, net		(74,869	)		(65,200	)							(39,300	)	(22,103	)
Non-cash derivative losses recorded in interest expense		4,797			-								17,862		-
Amortization of debt financing costs		3,824			3,613								1,310		1,148
Equipment lease receivables, net		2,009			1,621								833		508
Benefit/provision for income taxes, net of changes in deferred taxes		(870	)		(1,350	)							(126	)	(72	)
Changes in working capital		4,923			(5,466	)							1,113		495
Cash provided by operating activities		64,144			76,224								24,382		27,596
Changes in working capital		(4,923	)		5,466								(1,113	)	(495	)
Maintenance capital expenditures		(5,984	)		(11,996	)							(2,749	)	(3,800	)
Free cash flow from continuing operations		53,237			69,694			(16,457	)	(23.6	%)		20,520		23,301			(2,781	)	(11.9	%)

(1) Reclassified to conform to current period presentation.

(2) Depreciation - cost of services includes depreciation expense for District Energy which is reported in cost of services in our consolidated statements of operations. Depreciation and Depreciation - cost of services do not include step-up depreciation expense of $1.7 million for each quarter in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(3) Amortization of intangibles does not include step-up amortization expense of $283,000 for each quarter related to intangible assets in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(4) Equity in earnings and amortization charges of investees in the above table includes our 50% share of IMTT's earnings offset by distributions we received only up to our share of the earnings recorded.

	Year ended December 31,						Change (from 2008 to 2009) Favorable/(Unfavorable)					Quarter ended December 31,					Change (from 2008 to 2009) Favorable/(Unfavorable)
	2009			2008			$			%			2009		2008		$		%
	($ in Thousands) (Unaudited)
Net loss from continuing operations		(109,170	)		(70,181	)							(18,666	)	(83,431	)
Interest expense, net (1)		95,337			87,562								20,468		22,362
(Benefit) provision for income taxes		(15,818	)		(14,061	)							20,585		(20,154	)
Depreciation (2)		36,813			40,140								7,216		20,001
Depreciation - cost of services (2)		6,086			5,813								1,580		1,459
Amortization of intangibles (3)		60,892			61,874								8,969		31,611
Goodwill impairment		71,200			52,000								-		52,000
Loss on derivative instruments (1)		25,238			2,843								-		946
Equity in earnings and amortization charges of investees (4)		(15,561	)		-								(5,906	)	-
Base management and performance fees settled/to be settled in LLC interests		4,384			-								1,894		-
Other non-cash expense		2,784			4,883								1,715		3,073
EBITDA excluding non-cash items from continuing operations		162,185			170,873			(8,688	)	(5.1	%)		37,855		27,867			9,988	35.8	%
EBITDA excluding non-cash items from continuing operations		162,185			170,873								37,855		27,867
Interest expense, net  (1)		(95,337	)		(87,562	)							(20,468	)	(22,362	)
Non-cash derivative losses (gains) recorded in interest expense (1)		4,302			-								(495	)	-
Amortization of debt financing costs		5,121			4,762								1,297		1,149
Equipment lease receivables, net		2,610			2,372								601		751
Benefit/provision for income taxes, net of changes in deferred taxes		(2,105	)		(1,976	)							(1,235	)	(626	)
Changes in working capital		6,200			7,110								1,277		12,576
Cash provided by operating activities		82,976			95,579								18,832		19,355
Changes in working capital		(6,200	)		(7,110	)							(1,277	)	(12,576	)
Maintenance capital expenditures		(9,453	)		(14,846	)							(3,469	)	(2,850	)
Free cash flow from continuing operations		67,323			73,623			(6,300	)	(8.6	%)		14,086		3,929			10,157	NM

NM- Not meaningful.

(1) Reclassified to conform to current period presentation.

(2) Depreciation - cost of services includes depreciation expense for District Energy which is reported in cost of services in our consolidated statements of operations. Depreciation and Depreciation - cost of services do not include step-up depreciation expense of $6.9 million for each year and $1.7 million for each quarter in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(3) Amortization of intangibles does not include step-up amortization expense of $1.1 million for each year and $283,000 for each quarter related to intangible assets in connection with our investment in IMTT, which is reported in equity in earnings (losses) and amortization charges of investees in our consolidated statements of operations.

(4) Equity in earnings and amortization charges of investees in the above table includes our 50% share of IMTT's earnings offset by distributions we received only up to our share of the earnings recorded.

	/-----------------For the Three Months Ended March 31, 2009 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(3,220	)		3,115			(1,646	)		(50,300	)		6,632			(45,420	)		13,263
Interest expense, net		1,423			2,617			2,955			26,504			3,531			37,030			7,061
Provision (benefit) for income taxes		459			2,005			(1,075	)		(33,954	)		4,470			(28,096	)		8,939
Depreciation		-			1,476			1,463			11,674			6,215			20,828			12,429
Amortization of intangibles		-			214			337			29,714			198			30,463			395
Goodwill impairment		-			-			-			18,000			-			18,000			-
Loss (gain) on derivative instruments		202			327			1,378			23,331			(1,653	)		23,585			(3,306	)
Other non-cash (income) expense		(960	)		451			104			63			(413	)		(755	)		(826	)
EBITDA excluding non-cash items		(2,096	)		10,205			3,516			25,032			18,978			55,635			37,955
EBITDA excluding non-cash items		(2,096	)		10,205			3,516			25,032			18,978			55,635			37,955
Interest expense, net		(1,423	)		(2,617	)		(2,955	)		(26,504	)		(3,531	)		(37,030	)		(7,061	)
Non-cash derivative losses recorded in interest expense		-			323			391			6,273			-			6,987			-
Amortization of deferred finance charges		204			120			170			673			59			1,226			118
Equipment lease receivables, net		-			-			766			-			-			766			-
Provision / benefit for income taxes, net of changes in deferred taxes		(5	)		(284	)		-			(236	)		(379	)		(904	)		(757	)
Changes in working capital		(3,810	)		(1,513	)		(47	)		6,479			(801	)		308			(1,602	)
Cash (used in) provided by operating activities		(7,130	)		6,234			1,841			11,717			14,327			26,989			28,653
Changes in working capital		3,810			1,513			47			(6,479	)		801			(308	)		1,602
Maintenance capital expenditures		-			(598	)		(50	)		(894	)		(4,170	)		(5,712	)		(8,339	)
														-
Free cash flow		(3,320	)		7,149			1,838			4,344			10,958			20,969			21,916
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Three Months Ended March 31, 2008 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(3,995	)		1,854			(1,013	)		5,942			(906	)		1,882			(1,812	)
Interest expense, net		774			2,311			2,544			15,838			2,360			23,827			4,719
(Benefit) provision for income taxes		(2,667	)		1,192			(354	)		4,011			(478	)		1,704			(956	)
Depreciation		-			1,454			1,476			5,269			4,950			13,149			9,899
Amortization of intangibles		-			214			341			9,368			218			10,141			435
Loss on derivative instruments		132			21			30			199			8,860			9,242			17,720
Other non-cash expense (income)		279			192			172			195			(85	)		754			(169	)
EBITDA excluding non-cash items		(5,477	)		7,238			3,196			40,822			14,918			60,697			29,836
EBITDA excluding non-cash items		(5,477	)		7,238			3,196			40,822			14,918			60,697			29,836
Interest expense, net		(774	)		(2,311	)		(2,544	)		(15,838	)		(2,360	)		(23,827	)		(4,719	)
Amortization of deferred finance charges		377			120			169			651			59			1,376			118
Equipment lease receivables, net		-			-			508			-			-			508			-
Benefit/provision for income taxes, net of changes in deferred taxes		(94	)		-			-			(3,860	)		(643	)		(4,597	)		(1,286	)
Changes in working capital		(3,074	)		(4,236	)		1,512			(1,929	)		429			(7,299	)		857
Cash (used in) provided by operating activities		(9,042	)		811			2,841			19,846			12,403			26,859			24,806
Changes in working capital		3,074			4,236			(1,512	)		1,929			(429	)		7,299			(857	)
Maintenance capital expenditures		-			(1,154	)		(169	)		(3,564	)		(6,035	)		(10,922	)		(12,070	)
Free cash flow		(5,968	)		3,893			1,160			18,211			5,940			23,236			11,879
___________________________
(1) Reclassified to conform to current period presentation.

	/-----------------For the Six Months Ended June 30, 2009 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(17,416	)		7,633			1,868			(81,176	)		17,843			(71,248	)		35,686
Interest expense, net		2,534			1,368			227			31,440			(5,305	)		30,264			(10,610	)
Provision (benefit) for income taxes		11,277			4,913			1,221			(54,798	)		11,949			(25,438	)		23,898
Depreciation		-			2,996			2,965			19,424			12,568			37,953			25,135
Amortization of intangibles		-			426			678			41,693			572			43,369			1,143
Goodwill impairment		-			-			-			71,200			-			71,200			-
Loss (gain) on derivative instruments		202			327			1,378			23,331			(1,653	)		23,585			(3,306	)
Base management and performance fee paid in LLC interests		851			-			-			-			-			851			-
Other non-cash (income) expense		(846	)		1,015			276			(367	)		(335	)		(257	)		(669	)
EBITDA excluding non-cash items		(3,398	)		18,678			8,613			50,747			35,639			110,279			71,277
EBITDA excluding non-cash items		(3,398	)		18,678			8,613			50,747			35,639			110,279			71,277
Interest expense, net		(2,534	)		(1,368	)		(227	)		(31,440	)		5,305			(30,264	)		10,610
Non-cash derivative losses (gains) recorded in interest expense		119			(3,129	)		(4,808	)		(5,247	)		(12,611	)		(25,676	)		(25,222	)
Amortization of deferred finance charges		409			239			340			1,526			118			2,632			235
Equipment lease receivables, net		-			-			1,176			-			-			1,176			-
Provision / benefit for income taxes, net of changes in deferred taxes		1,636			(2,118	)		-			(262	)		(774	)		(1,518	)		(1,547	)
Changes in working capital		(5,718	)		(471	)		(253	)		10,252			5,742			9,552			11,483
Cash (used in) provided by operating activities		(9,486	)		11,831			4,841			25,576			33,418			66,180			66,836
Changes in working capital		5,718			471			253			(10,252	)		(5,742	)		(9,552	)		(11,483	)
Maintenance capital expenditures		-			(1,081	)		(359	)		(1,795	)		(8,341	)		(11,576	)		(16,681	)
														-
Free cash flow		(3,768	)		11,221			4,735			13,529			19,336			45,053			38,672
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Six Months Ended June 30, 2008 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(8,288	)		3,582			(305	)		9,342			8,918			13,249			17,836
Interest expense, net		1,993			4,671			5,152			31,281			4,946			48,043			9,892
(Benefit) provision for income taxes		(5,565	)		2,305			(107	)		6,306			5,731			8,670			11,462
Depreciation		-			2,904			2,952			10,134			9,955			25,945			19,909
Amortization of intangibles		-			428			682			18,990			374			20,474			748
Loss (gain) on derivative instruments		358			150			(18	)		555			(145	)		900			(290	)
Other non-cash expense (income)		344			424			361			203			(146	)		1,186			(292	)
EBITDA excluding non-cash items		(11,158	)		14,464			8,717			76,811			29,633			118,467			59,265
EBITDA excluding non-cash items		(11,158	)		14,464			8,717			76,811			29,633			118,467			59,265
Interest expense, net		(1,993	)		(4,671	)		(5,152	)		(31,281	)		(4,946	)		(48,043	)		(9,892	)
Amortization of deferred finance charges		581			239			341			1,304			118			2,583			236
Equipment lease receivables, net		-			-			1,113			-			-			1,113			-
Benefit/provision for income taxes, net of changes in deferred taxes		4,822			-			-			(6,100	)		(1,164	)		(2,442	)		(2,327	)
Changes in working capital		(7,987	)		(2,021	)		913			3,134			(2,829	)		(8,790	)		(5,658	)
Cash (used in) provided by operating activities		(15,735	)		8,011			5,932			43,868			20,812			62,888			41,624
Changes in working capital		7,987			2,021			(913	)		(3,134	)		2,829			8,790			5,658
Maintenance capital expenditures		-			(2,696	)		(299	)		(5,201	)		(11,082	)		(19,278	)		(22,165	)
Free cash flow		(7,748	)		7,336			4,720			35,533			12,559			52,400			25,117
___________________________
(1) Reclassified to conform to current period presentation.

	/-----------------For the Quarter Ended June 30, 2009 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(14,196	)		4,518			3,514			(30,876	)		11,212			(25,829	)		22,423
Interest expense, net		1,111			(1,249	)		(2,728	)		4,936			(8,836	)		(6,766	)		(17,671	)
Provision (benefit) for income taxes		10,818			2,908			2,296			(20,844	)		7,480			2,658			14,959
Depreciation		-			1,520			1,502			7,750			6,353			17,125			12,706
Amortization of intangibles		-			212			341			11,979			374			12,906			748
Goodwill impairment		-			-			-			53,200			-			53,200			-
Loss (gain) on derivative instruments		-			-			-			-			-			-			-
Base management and performance fee paid in LLC interests		851			-			-			-			-			851			-
Other non-cash (income) expense		114			564			172			(430	)		79			499			157
EBITDA excluding non-cash items		(1,302	)		8,473			5,097			25,715			16,661			54,644			33,322
EBITDA excluding non-cash items		(1,302	)		8,473			5,097			25,715			16,661			54,644			33,322
Interest expense, net		(1,111	)		1,249			2,728			(4,936	)		8,836			6,766			17,671
Non-cash derivative losses (gains) recorded in interest expense		119			(3,452	)		(5,199	)		(11,520	)		(12,611	)		(32,663	)		(25,222	)
Amortization of deferred finance charges		205			119			170			853			59			1,406			117
Equipment lease receivables, net		-			-			410			-			-			410			-
Provision / benefit for income taxes, net of changes in deferred taxes		1,641			(1,834	)		-			(26	)		(395	)		(614	)		(790	)
Changes in working capital		(1,908	)		1,042			(206	)		3,773			6,543			9,244			13,085
Cash (used in) provided by operating activities		(2,356	)		5,597			3,000			13,859			19,092			39,192			38,183
Changes in working capital		1,908			(1,042	)		206			(3,773	)		(6,543	)		(9,244	)		(13,085	)
Maintenance capital expenditures		-			(483	)		(309	)		(901	)		(4,171	)		(5,864	)		(8,342	)
														-
Free cash flow		(448	)		4,072			2,897			9,185			8,378			24,084			16,756
																��
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Quarter Ended June 30, 2008 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(4,293	)		1,728			708			3,400			9,824			11,367			19,648
Interest expense, net		1,219			2,360			2,608			15,443			2,587			24,217			5,173
(Benefit) provision for income taxes		(2,898	)		1,113			247			2,295			6,209			6,966			12,418
Depreciation		-			1,450			1,476			4,865			5,005			12,796			10,010
Amortization of intangibles		-			214			341			9,622			157			10,334			313
Loss (gain) on derivative instruments		226			129			(48	)		356			(9,005	)		(8,342	)		(18,010	)
Other non-cash expense (income)		65			232			189			8			(62	)		433			(123	)
EBITDA excluding non-cash items		(5,681	)		7,226			5,521			35,989			14,715			57,770			29,429
EBITDA excluding non-cash items		(5,681	)		7,226			5,521			35,989			14,715			57,770			29,429
Interest expense, net		(1,219	)		(2,360	)		(2,608	)		(15,443	)		(2,587	)		(24,217	)		(5,173	)
Amortization of deferred finance charges		204			119			172			653			59			1,207			118
Equipment lease receivables, net		-			-			605			-			-			605			-
Benefit/provision for income taxes, net of changes in deferred taxes		4,916			-			-			(2,240	)		(521	)		2,156			(1,041	)
Changes in working capital		(4,913	)		2,215			(599	)		5,063			(3,258	)		(1,492	)		(6,515	)
Cash (used in) provided by operating activities		(6,693	)		7,200			3,091			24,022			8,409			36,029			16,818
Changes in working capital		4,913			(2,215	)		599			(5,063	)		3,258			1,492			6,515
Maintenance capital expenditures		-			(1,542	)		(130	)		(1,637	)		(5,048	)		(8,357	)		(10,095	)
														-
Free cash flow		(1,780	)		3,443			3,560			17,322			6,619			29,164			13,238
___________________________
(1) Reclassified to conform to current period presentation.

	/-----------------For the Nine Months Ended September 30, 2009 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(28,496	)		8,327			1,104			(88,094	)		20,204			(86,956	)		40,407
Interest expense, net		3,423			6,774			6,850			57,822			2,421			77,290			4,842
Provision (benefit) for income taxes		16,984			5,359			721			(59,467	)		13,518			(22,886	)		27,035
Depreciation		-			4,504			4,506			25,093			19,131			53,234			38,262
Amortization of intangibles		-			631			1,023			50,269			737			52,660			1,473
Goodwill impairment		-			-			-			71,200			-			71,200			-
Loss (gain) on derivative instruments		202			327			1,378			23,331			(1,653	)		23,585			(3,306	)
Base management and performance fee paid in LLC interests		2,490			-			-			-			-			2,490			-
Other non-cash (income) expense		(587	)		1,525			455			(324	)		(146	)		924			(291	)
EBITDA excluding non-cash items		(5,984	)		27,447			16,037			79,830			54,211			171,541			108,422
EBITDA excluding non-cash items		(5,984	)		27,447			16,037			79,830			54,211			171,541			108,422
Interest expense, net		(3,423	)		(6,774	)		(6,850	)		(57,822	)		(2,421	)		(77,290	)		(4,842	)
Non-cash derivative losses (gains) recorded in interest expense		201			65			(739	)		5,270			(8,574	)		(3,777	)		(17,148	)
Amortization of deferred finance charges		614			358			511			2,341			177			4,001			353
Equipment lease receivables, net		-			-			2,009			-			-			2,009			-
Provision / benefit for income taxes, net of changes in deferred taxes		2,080			(2,697	)		-			(253	)		(1,284	)		(2,154	)		(2,567	)
Changes in working capital		(6,409	)		(1,922	)		(1,405	)		14,659			4,227			9,150			8,453
Cash (used in) provided by operating activities		(12,921	)		16,477			9,563			44,025			46,336			103,480			92,671
Changes in working capital		6,409			1,922			1,405			(14,659	)		(4,227	)		(9,150	)		(8,453	)
Maintenance capital expenditures		-			(1,757	)		(664	)		(3,563	)		(13,432	)		(19,416	)		(26,864	)
														-
Free cash flow		(6,512	)		16,642			10,304			25,803			28,677			74,914			57,354
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Nine Months Ended September 30, 2008 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(13,820	)		5,395			1,477			9,595			14,151			16,798			28,302
Interest expense, net		3,382			7,025			7,761			47,032			8,401			73,601			16,801
(Benefit) provision for income taxes		(4,370	)		3,471			516			6,476			9,437			15,530			18,874
Depreciation		-			4,367			4,354			15,772			15,378			39,871			30,756
Amortization of intangibles		-			642			1,027			28,594			602			30,865			1,204
Loss (gain) on derivative instruments		569			223			(28	)		1,133			2,251			4,148			4,502
Other non-cash expense		469			672			593			76			87			1,897			173
EBITDA excluding non-cash items		(13,770	)		21,795			15,700			108,678			50,306			182,709			100,612
EBITDA excluding non-cash items		(13,770	)		21,795			15,700			108,678			50,306			182,709			100,612
Interest expense, net		(3,382	)		(7,025	)		(7,761	)		(47,032	)		(8,401	)		(73,601	)		(16,801	)
Amortization of deferred finance charges		783			359			512			1,959			178			3,791			355
Equipment lease receivables, net		-			-			1,621			-			-			1,621			-
Benefit/provision for income taxes, net of changes in deferred taxes		5,174			-			-			(6,524	)		(2,259	)		(3,609	)		(4,518	)
Changes in working capital		(9,333	)		133			1,701			2,033			(1,586	)		(7,052	)		(3,171	)
Cash (used in) provided by operating activities		(20,528	)		15,262			11,773			59,114			38,239			103,860			76,477
Changes in working capital		9,333			(133	)		(1,701	)		(2,033	)		1,586			7,052			3,171
Maintenance capital expenditures		-			(4,624	)		(615	)		(6,757	)		(17,005	)		(29,001	)		(34,011	)
Free cash flow		(11,195	)		10,505			9,457			50,324			22,819			81,910			45,637
___________________________
(1) Reclassified to conform to current period presentation.

	/-----------------For the Quarter Ended September 30, 2009 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(11,080	)		694			(764	)		(6,918	)		2,361			(15,708	)		4,721
Interest expense, net		889			5,406			6,623			26,382			7,726			47,026			15,452
Provision (benefit) for income taxes		5,707			446			(500	)		(4,669	)		1,569			2,553			3,137
Depreciation		-			1,508			1,541			5,669			6,564			15,282			13,127
Amortization of intangibles		-			205			345			8,576			165			9,291			330
Goodwill impairment		-			-			-			-			-			-			-
Loss (gain) on derivative instruments		-			-			-			-			-			-			-
Base management and performance fee paid in LLC interests		1,639			-			-			-			-			1,639			-
Other non-cash (income) expense		259			510			179			43			189			1,180			378
EBITDA excluding non-cash items		(2,586	)		8,769			7,424			29,083			18,573			61,263			37,145
EBITDA excluding non-cash items		(2,586	)		8,769			7,424			29,083			18,573			61,263			37,145
Interest expense, net		(889	)		(5,406	)		(6,623	)		(26,382	)		(7,726	)		(47,026	)		(15,452	)
Non-cash derivative losses (gains) recorded in interest expense		82			3,194			4,069			10,517			4,037			21,899			8,074
Amortization of deferred finance charges		205			119			171			815			59			1,369			118
Equipment lease receivables, net		-			-			833			-			-			833			-
Provision / benefit for income taxes, net of changes in deferred taxes		444			(579	)		-			9			(510	)		(636	)		(1,020	)
Changes in working capital		(691	)		(1,451	)		(1,152	)		4,407			(1,515	)		(402	)		(3,030	)
Cash (used in) provided by operating activities		(3,435	)		4,646			4,722			18,449			12,918			37,300			25,835
Changes in working capital		691			1,451			1,152			(4,407	)		1,515			402			3,030
Maintenance capital expenditures		-			(676	)		(305	)		(1,768	)		(5,092	)		(7,841	)		(10,183	)
														-
Free cash flow		(2,744	)		5,421			5,569			12,274			9,341			29,861			18,682
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Quarter Ended September 30, 2008 (1)------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(5,532	)		1,813			1,782			253			5,233			3,549			10,466
Interest expense, net		1,389			2,354			2,609			15,751			3,455			25,558			6,909
(Benefit) provision for income taxes		1,195			1,166			623			170			3,706			6,860			7,412
Depreciation		-			1,463			1,402			5,638			5,424			13,927			10,847
Amortization of intangibles		-			214			345			9,604			228			10,391			456
Loss (gain) on derivative instruments		211			73			(10	)		578			2,396			3,248			4,792
Other non-cash expense		125			248			232			(127	)		233			711			465
EBITDA excluding non-cash items		(2,612	)		7,331			6,983			31,867			20,674			64,243			41,347
EBITDA excluding non-cash items		(2,612	)		7,331			6,983			31,867			20,674			64,243			41,347
Interest expense, net		(1,389	)		(2,354	)		(2,609	)		(15,751	)		(3,455	)		(25,558	)		(6,909	)
Amortization of deferred finance charges		202			120			171			655			60			1,208			119
Equipment lease receivables, net		-			-			508			-			-			508			-
Benefit/provision for income taxes, net of changes in deferred taxes		352			-			-			(424	)		(1,096	)		(1,168	)		(2,191	)
Changes in working capital		(1,346	)		2,154			788			(1,101	)		1,244			1,739			2,487
Cash (used in) provided by operating activities		(4,793	)		7,251			5,841			15,246			17,427			40,972			34,853
Changes in working capital		1,346			(2,154	)		(788	)		1,101			(1,244	)		(1,739	)		(2,487	)
Maintenance capital expenditures		-			(1,928	)		(316	)		(1,556	)		(5,923	)		(9,723	)		(11,846	)
														-
Free cash flow		(3,447	)		3,169			4,737			14,791			10,260			29,510			20,520
___________________________
(1) Reclassified to conform to current period presentation.

	/-----------------For the Year Ended December 31, 2009------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(54,372	)		11,836			1,182			(90,377	)		27,292			(104,439	)		54,584
Interest expense, net (1)		4,163			9,250			8,995			72,929			1,065			96,402			2,130
Provision (benefit) for income taxes		36,799			7,619			773			(61,009	)		19,421			3,603			38,842
Depreciation		-			5,991			6,086			30,822			27,043			69,942			54,086
Amortization of intangibles		-			838			1,368			58,686			956			61,848			1,912
Goodwill impairment		-			-			-			71,200			-			71,200			-
Loss (gain) on derivative instruments (1)		202			327			1,378			23,331			(1,653	)		23,585			(3,306	)
Base management and performance fee paid in LLC interests		4,384			-			-			-			-			4,384			-
Other non-cash (income) expense		(899	)		1,771			1,009			903			(295	)		2,489			(590	)
EBITDA excluding non-cash items		(9,723	)		37,632			20,791			106,485			73,829			229,014			147,658
EBITDA excluding non-cash items		(9,723	)		37,632			20,791			106,485			73,829			229,014			147,658
Interest expense, net (1)		(4,163	)		(9,250	)		(8,995	)		(72,929	)		(1,065	)		(96,402	)		(2,130	)
Non-cash derivative losses (gains) recorded in interest expense (1)		205			309			(1,158	)		4,946			(13,690	)		(9,388	)		(27,380	)
Amortization of deferred finance charges		818			478			681			3,144			272			5,393			543
Equipment lease receivables, net		-			-			2,610			-			-			2,610			-
Provision / benefit for income taxes, net of changes in deferred taxes		3,021			(4,936	)		-			(190	)		(797	)		(2,902	)		(1,593	)
Changes in working capital		(5,120	)		1,327			519			9,474			8,142			14,342			16,284
Cash (used in) provided by operating activities		(14,962	)		25,560			14,448			50,930			66,691			142,667			133,382
Changes in working capital		5,120			(1,327	)		(519	)		(9,474	)		(8,142	)		(14,342	)		(16,284	)
Maintenance capital expenditures		-			(3,939	)		(1,001	)		(4,513	)		(19,988	)		(29,441	)		(39,977	)
														-
Free cash flow		(9,842	)		20,294			12,928			36,943			38,561			98,884			77,121
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Year Ended December 31, 2008------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(34,131	)		6,283			691			(44,348	)		6,055			(65,451	)		12,109
Interest expense, net		4,864			9,390			10,341			62,967			11,770			99,332			23,540
Provision (benefit) for income taxes		11,589			4,044			242			(29,936	)		4,726			(9,335	)		9,452
Depreciation		-			5,883			5,813			34,257			21,508			67,461			43,015
Amortization of intangibles		-			856			1,372			59,646			800			62,674			1,600
Goodwill impairment		-			-			-			52,000			-			52,000			-
Loss (gain) on derivative instruments		777			221			(26	)		1,871			23,139			25,982			46,277
Other non-cash expense		425			1,180			2,654			624			301			5,184			601
EBITDA excluding non-cash items		(16,476	)		27,857			21,087			137,081			68,297			237,846			136,594
EBITDA excluding non-cash items		(16,476	)		27,857			21,087			137,081			68,297			237,846			136,594
Interest expense, net		(4,864	)		(9,390	)		(10,341	)		(62,967	)		(11,770	)		(99,332	)		(23,540	)
Amortization of deferred finance charges		989			478			682			2,613			237			4,999			473
Equipment lease receivables, net		-			-			2,372			-			-			2,372			-
Provision / benefit for income taxes, net of changes in deferred taxes		5,974			-			-			(7,950	)		(2,027	)		(4,003	)		(4,053	)
Changes in working capital		(9,340	)		8,133			3,966			4,351			(7,694	)		(584	)		(15,387	)
Cash (used in) provided by operating activities		(23,717	)		27,078			17,766			73,128			47,044			141,299			94,087
Changes in working capital		9,340			(8,133	)		(3,966	)		(4,351	)		7,694			584			15,387
Maintenance capital expenditures		-			(6,202	)		(989	)		(7,655	)		(21,345	)		(36,191	)		(42,690	)
Free cash flow		(14,377	)		12,743			12,811			61,122			33,392			105,691			66,784
___________________________
(1) Reclassified to conform to current period presentation.

	/-----------------For the Quarter Ended December 31, 2009------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(25,876	)		3,509			78			(2,283	)		7,089			(17,484	)		14,177
Interest expense, net (1)		740			2,476			2,145			15,107			(1,356	)		19,112			(2,712	)
Provision (benefit) for income taxes		19,815			2,260			52			(1,542	)		5,904			26,489			11,807
Depreciation		-			1,487			1,580			5,729			7,912			16,708			15,824
Amortization of intangibles		-			207			345			8,417			220			9,189			439
Goodwill impairment		-			-			-			-			-			-			-
Loss (gain) on derivative instruments (1)		-			-			-			-			-			-			-
Base management and performance fee paid in LLC interests		1,894			-			-			-			-			1,894			-
Other non-cash (income) expense		(312	)		246			554			1,227			(150	)		1,566			(299	)
EBITDA excluding non-cash items		(3,739	)		10,185			4,754			26,655			19,618			57,473			39,236
EBITDA excluding non-cash items		(3,739	)		10,185			4,754			26,655			19,618			57,473			39,236
Interest expense, net (1)		(740	)		(2,476	)		(2,145	)		(15,107	)		1,356			(19,112	)		2,712
Non-cash derivative losses (gains) recorded in interest expense (1)		4			244			(419	)		(324	)		(5,116	)		(5,611	)		(10,232	)
Amortization of deferred finance charges		204			120			170			803			95			1,392			190
Equipment lease receivables, net		-			-			601			-			-			601			-
Provision / benefit for income taxes, net of changes in deferred taxes		941			(2,239	)		-			63			487			(748	)		974
Changes in working capital		1,289			3,249			1,924			(5,185	)		3,916			5,193			7,831
Cash (used in) provided by operating activities		(2,041	)		9,083			4,885			6,905			20,356			39,188			40,711
Changes in working capital		(1,289	)		(3,249	)		(1,924	)		5,185			(3,916	)		(5,193	)		(7,831	)
Maintenance capital expenditures		-			(2,182	)		(337	)		(950	)		(6,556	)		(10,025	)		(13,112	)
														-
Free cash flow		(3,330	)		3,652			2,624			11,140			9,884			23,970			19,768
___________________________
(1) Reclassified to conform to current period presentation.
	/-----------------For the Quarter Ended December 31, 2008------------------/
($ in Thousands) (Unaudited)	MIC			The Gas Company			District Energy			Atlantic Aviation			IMTT 50%			Proportionately Combined			IMTT 100%
Net (loss) income		(20,311	)		888			(786	)		(53,943	)		(8,097	)		(82,249	)		(16,193	)
Interest expense, net		1,482			2,365			2,580			15,935			3,370			25,732			6,739
Provision (benefit) for income taxes		15,959			573			(274	)		(36,412	)		(4,711	)		(24,865	)		(9,422	)
Depreciation		-			1,516			1,459			18,485			6,130			27,590			12,259
Amortization of intangibles		-			214			345			31,052			198			31,809			396
Goodwill impairment		-			-			-			52,000			-			52,000			-
Loss (gain) on derivative instruments		208			(2	)		2			738			20,888			21,834			41,775
Other non-cash expense		(44	)		508			2,061			548			214			3,287			428
EBITDA excluding non-cash items		(2,706	)		6,062			5,387			28,403			17,991			55,137			35,982
EBITDA excluding non-cash items		(2,706	)		6,062			5,387			28,403			17,991			55,137			35,982
Interest expense, net		(1,482	)		(2,365	)		(2,580	)		(15,935	)		(3,370	)		(25,732	)		(6,739	)
Amortization of deferred finance charges		206			119			170			654			59			1,208			118
Equipment lease receivables, net		-			-			751			-			-			751			-
Provision / benefit for income taxes, net of changes in deferred taxes		800			-			-			(1,426	)		233			(394	)		465
Changes in working capital		(7	)		8,000			2,265			2,318			(6,108	)		6,468			(12,216	)
Cash (used in) provided by operating activities		(3,189	)		11,816			5,993			14,014			8,805			37,439			17,610
Changes in working capital		7			(8,000	)		(2,265	)		(2,318	)		6,108			(6,468	)		12,216
Maintenance capital expenditures		-			(1,578	)		(374	)		(898	)		(4,340	)		(7,190	)		(8,679	)
Free cash flow		(3,182	)		2,238			3,354			10,798			10,573			23,781			21,147
___________________________
(1) Reclassified to conform to current period presentation.