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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