QUARTERLY FINANCIAL DATA (unaudited)

12 Months Ended

Dec. 31, 2013

QUARTERLY FINANCIAL DATA (unaudited)

QUARTERLY FINANCIAL DATA (unaudited)

NOTE 17    QUARTERLY FINANCIAL DATA (unaudited)

The following sets forth selected unaudited financial data for the four quarters in 2013 and 2012:

Quarter ended (millions of dollars except per common unit amounts)	Mar 31	Jun 30	Sept 30		Dec 31
2013
Transmission revenues(a)	86	82	85		88
Equity earnings(a)	18	15	15		19
Net income(a)	53	42	46		50
Net income attributable to controlling interests(a)	43	34	37		41
Net income per common unit	$0.52	$0.40	$0.58		$0.63
Cash distribution paid	43	43	52		52
2012
Transmission revenues(a)	88	84	84		87
Equity earnings(a)	29	24	24		22
Net income(a)	65	54	57		53
Net income attributable to controlling interests(a)	54	46	48		44
Net income per common unit	$0.71	$0.60	$0.64	(b)	$0.56
Cash distributions paid	42	42	43		43

^(a)

Recast as discussed in Note 2 and Note 6.

^(b)

Net Income per common unit has been revised and is presented consistent with our presentation prior to the recast. This change conforms to our presentation for a previous common control transaction in 2009 to ensure consistency. As a result of this change, we decreased recast net income by the amount of net income attributed to GTN's and Bison's former parent in order to compute net income per common unit. It had no impact on these financial statements except as presented below:

Quarter ended September 30, 2012	As previously recast	Adjustment	Revised
Net income per common unit	$0.88	$(0.24)	$0.64