INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)

12 Months Ended

Dec. 31, 2013

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

Schedule of equity method investment in unconsolidated affiliates

		Equity Earnings from Unconsolidated Affiliates			Investment in Unconsolidated Affiliates
		Year ended December 31			December 31
	Ownership Interest at December 31, 2013
(millions of dollars)		2013	2012	2011	2013	2012
Northern Border(a)	50%	64	72	75	523	512
Great Lakes	46.45%	3	27	60	672	677
		67	99	135	1,195	1,189

(a)

Equity earnings from Northern Border is net of the 12-year amortization of a $10 million transaction fee paid to the operator of Northern Border at the time of the Partnership's additional 20 percent acquisition in April 2006.

Northern Border

Investments in unconsolidated affiliates

Summarized financial information for equity method investment

December 31 (millions of dollars)		2013		2012
Assets
Cash and cash equivalents		27		28
Other current assets		34		35
Plant, property and equipment, net		1,197		1,234
Other assets		33		31
		1,291		1,328
Liabilities and Partners' Equity
Current liabilities		51		53
Deferred credits and other		19		16
Long-term debt, including current maturities		411		473
Partners' equity
	Partners' capital	812		789
	Accumulated other comprehensive loss	(2	)	(3	)
		1,291		1,328

Year ended December 31 (millions of dollars)	2013		2012		2011
Transmission revenues	286		311		310
Operating expenses	(75	)	(79	)	(73	)
Depreciation	(58	)	(63	)	(62	)
Financial charges and other	(23	)	(24	)	(22	)
Net income	130		145		153

Great Lakes

Investments in unconsolidated affiliates

Summarized financial information for equity method investment

December 31 (millions of dollars)	2013	2012
Assets
Current assets	52	56
Plant, property and equipment, net	771	799
	823	855
Liabilities and Partners' Equity
Current liabilities	28	30
Long-term debt, including current maturities	335	354
Partners' equity	460	471
	823	855

Year ended December 31 (millions of dollars)	2013		2012		2011
Transmission revenues	124		182		250
Operating expenses	(60	)	(66	)	(62	)
Depreciation	(31	)	(31	)	(32	)
Financial charges and other	(27	)	(28	)	(30	)
Michigan business tax	–		–		2
Net income	6		57		128