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EQUITY INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2017
EQUITY INVESTMENTS  
Schedule of equity investments and summarized financial information for equity investees

                                                                                                                                                                                    

 

 

 

 


Equity Earnings(b)


 


Equity Investments


 

 

 

 


Year ended December 31


 


December 31


 

 


Ownership
Interest at
December 31,
2017

(millions of dollars)

 

2017

 


2016(c)

 

2015

 

2017

 


2016(c)

 


Northern Border(a)

 

50.00%

 

67

 

69

 

66

 

512

 

444

 

Great Lakes

 

46.45%

 

31

 

28

 

31

 

479

 

474

 

Iroquois

 

49.34%

 

26

 

 

 

222

 

 


 

 

 

 

124

 

97

 

97

 

1,213

 

918

 


 

 

 

(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 acquisition of an additional 20 percent in April 2006.

(b)          

Equity Earnings represents our share in investee's earnings and does not include any impairment charge on the equity method investment recorded as a reduction of carrying value of these investments. Accordingly, no impairment charge was recorded by the Partnership on its equity investees for all the periods presented here except the $199 million impairment recognized in 2015 on our investment in Great Lakes as discussed below.

(c)          

Recast to eliminate equity earnings from PNGTS and consolidate PNGTS (Refer to Notes 2 and 7).

 

Northern Border  
EQUITY INVESTMENTS  
Schedule of equity investments and summarized financial information for equity investees

                                                                                                                                                                                    

December 31 (millions of dollars)

 

2017

 

2016

 

 


Assets

 

 

 

 

 

 

Cash and cash equivalents

 

14

 

14

 

 

Other current assets

 

36

 

36

 

 

Plant, property and equipment, net

 

1,063

 

1,089

 

 

Other assets

 

14

 

14

 

 


 

 

1,127

 

1,153

 

 


Liabilities and Partners' Equity

 

 

 

 

 

 

Current liabilities

 

38

 

38

 

 

Deferred credits and other

 

31

 

28

 

 

Long-term debt, net(a)

 

264

 

430

 

 

Partners' equity

 

 

 

 

 

 

 

Partners' capital

 

795

 

659

 

 

 

Accumulated other comprehensive loss

 

(1

)

(2

)

 


 

 

1,127

 

1,153

 

 


                                                                                                                                                                                    

 

                                                                                                                                                                                    

Year ended December 31 (millions of dollars)

 

2017

 

2016

 

2015

 

 


Transmission revenues

 

291

 

292

 

286

 

 

Operating expenses

 

(78

)

(72

)

(70

)

 

Depreciation

 

(59

)

(59

)

(60

)

 

Financial charges and other

 

(18

)

(21

)

(22

)

 


Net income

 

136

 

140

 

134

 

 


 

 

 

(a)          

No current maturities as of December 31, 2017 or 2016.

 

Great Lakes  
EQUITY INVESTMENTS  
Schedule of equity investments and summarized financial information for equity investees

                                                                                                                                                                                    

December 31 (millions of dollars)

 

2017

 

2016

 


Assets

 

 

 

 

 

Current assets

 

107

 

66

 

Plant, property and equipment, net

 

701

 

714

 


 

 

808

 

780

 



Liabilities and Partners' Equity


 


 


 


 


 

Current liabilities

 

75

 

40

 

Long-term debt, net(a)

 

259

 

278

 

Other long term liabilities

 

1

 

 

Partners' equity

 

473

 

462

 


 

 

808

 

780

 


                                                                                                                                                                                    

 

                                                                                                                                                                                    

Year ended December 31 (millions of dollars)

 

2017

 

2016

 

2015

 

 


Transmission revenues

 

181

 

179

 

177

 

 

Operating expenses

 

(66

)

(69

)

(59

)

 

Depreciation

 

(29

)

(28

)

(28

)

 

Financial charges and other

 

(20

)

(21

)

(23

)

 


Net income

 

66

 

61

 

67

 

 


 

 

 

(a)          

Includes current maturities of $19 million as of December 31, 2017 (December 31, 2016 – $19 million).

 

Iroquois  
EQUITY INVESTMENTS  
Schedule of equity investments and summarized financial information for equity investees

                                                                                                                                                                                    


(millions of dollars)

 


At December 31,
2017

 


ASSETS

 

 

 

Cash and cash equivalents

 

86

 

Other current assets

 

36

 

Plant, property and equipment, net

 

591

 

Other assets

 

8

 


 

 

721

 



LIABILITIES AND PARTNERS' EQUITY


 


 


 

Current liabilities

 

17

 

Net long-term debt, including current maturities(a)

 

329

 

Other non-current liabilities

 

9

 

Partners' equity

 

366

 


 

 

721

 


                                                                                                                                                                                    


Period of 7 months ended December 31 (millions of dollars)

 


2017 

 


Transmission revenues

 

110 

 

Operating expenses

 

(32)

 

Depreciation

 

(17)

 

Financial charges and other

 

(9)

 


Net income

 

52 

 


 

 

 

(a)          

Includes current maturities of $4 million as of December 31, 2017.