EQUITY INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2018

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

	Ownership
	Interest at		Equity Earnings (b)			Equity Investments
	December 31,		Year ended December 31			December 31
(millions of dollars)	2018		2018	2017	2016(c)	2018	2017
Northern Border(a)	50.00	%	68	67	69	497	512
Great Lakes	46.45	%	59	31	28	489	479
Iroquois	49.34	%	46	26	—	210	222
			173	124	97	1,196	1,213

^(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.

^(c) Recast to eliminate equity earnings from PNGTS and consolidate PNGTS (Refer to Notes 2 and 8).

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

December 31 (millions of dollars)	2018	2017
Assets
Cash and cash equivalents	10	14
Other current assets	36	36
Property, plant and equipment, net	1,037	1,063
Other assets	13	14
	1,096	1,127
Liabilities and Partners’ Equity
Current liabilities	34	38
Deferred credits and other	35	31
Long-term debt, net (a)	264	264
Partners’ equity
Partners’ capital	764	795
Accumulated other comprehensive loss	(1)	(1)
	1,096	1,127

Year ended December 31 (millions of dollars)	2018	2017	2016
Transmission revenues	289	291	292
Operating expenses	(78)	(78)	(72)
Depreciation	(60)	(59)	(59)
Financial charges and other	(15)	(18)	(21)
Net income	136	136	140

^(a) No current maturities as of December 31, 2018 or 2017.

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

December 31 (millions of dollars)	2018	2017
Assets
Current assets	75	107
Property, plant and equipment, net	689	701
	764	808
Liabilities and Partners’ Equity
Current liabilities	26	75
Long-term debt, net (a)	240	259
Other long-term liabilities	4	1
Partners’ equity	494	473
	764	808

Year ended December 31 (millions of dollars)	2018	2017	2016
Transmission revenues	246	181	179
Operating expenses	(68)	(66)	(69)
Depreciation	(32)	(29)	(28)
Financial charges and other	(18)	(20)	(21)
Net income	128	66	61

^(a) Includes current maturities of $21 million as of December 31, 2018 (December 31, 2017 - $19 million).

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

December 31 (millions of dollars)	2018	2017
ASSETS
Cash and cash equivalents	80	86
Other current assets	32	36
Property, plant and equipment, net	581	591
Other assets	8	8
	701	721
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	19	17
Net long-term debt, net (a)	325	329
Other non-current liabilities	14	9
Partners’ equity	343	366
	701	721

		Period of 7 months
	Year ended	ended December 31,
(millions of dollars)	December 31, 2018	2017
Transmission revenues	194	110
Operating expenses	(57)	(32)
Depreciation	(29)	(17)
Financial charges and other	(14)	(9)
Net income	94	52

^(a) Includes current maturities of $146 million as of December 31, 2018 (December 31, 2017 - $4 million).