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OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2014
OTHER LIABILITIES  
OTHER LIABILITIES

NOTE 8    OTHER LIABILITIES

                                                                                                                                                                                    


December 31 (millions of dollars)

 

2014

 

2013

 

Regulatory liabilities

 
23 

 
22 

 

Other liabilities

 
3 

 
2 

 

 

 
26 

 
24 

 

The Partnership collects estimated future removal costs related to its transmission and gathering facilities in its current rates and recognizes regulatory liabilities in this respect in the balance sheet. Estimated costs associated with the future removal of transmission and gathering facilities are collected through depreciation as allowed by FERC. These amounts do not represent asset retirement obligations as defined by FASB ASC 410, Accounting for Asset Retirement Obligations.