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.