NET INCOME PER COMMON UNIT (Tables)

12 Months Ended

Dec. 31, 2014

NET INCOME PER COMMON UNIT

Schedule of net income per common unit

(millions of dollars, except per common unit amounts)	2014	2013(a)		2012(a)
Net income attributable to controlling interests	172	155		192
Net income attributed to GTN's and Bison's former parent(b)	–	(26	)	(55	)
Net income allocated to controlling interests(b)	172	129		137
Net income allocated to General Partner, including incentive distribution rights (IDRs)(c)	4	3		3
Net income allocable to common units	168	126		134
Weighted average common units outstanding (millions) – basic and diluted	62.7	58.9		53.5
Net income per common unit – basic and diluted	$ 2.67	$ 2.13		$ 2.51

(a)	Recast as discussed in Note 2 and Note 6.
(b)	Net income allocated to controlling interests excludes net income attributed to GTN's and Bison's former parent as it was allocated to TransCanada and was not allocable to either the general partner or common units.
(c)	In the calculation of basic and diluted net income per common unit, the net income allocated to the General Partner includes IDRs pertaining to the current reporting period, but declared and paid in the subsequent period.