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INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)
6 Months Ended
Jun. 30, 2013
INVESTMENTS IN UNCONSOLIDATED AFFILIATES  
Schedule of equity method investments in unconsolidated affiliates

 

 

 

 

Ownership

 

Equity Earnings from
Unconsolidated Affiliates

 

Investments in
Unconsolidated Affiliates

 

 

 

Interest at

 

Three months

 

Six Months

 

 

 

 

 

(unaudited)

 

June 30,

 

ended June 30,

 

ended June 30,

 

June 30,

 

December 31,

 

(millions of dollars)

 

2013

 

2013

 

2012

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Great Lakes

 

46.45%

 

-

 

8

 

2

 

17

 

671

 

677

 

Northern Border (a)

 

50%

 

15

 

16

 

31

 

36

 

500

 

512

 

GTN

 

25%

 

4

 

4

 

9

 

10

 

212

 

216

 

Bison

 

25%

 

3

 

3

 

6

 

6

 

162

 

158

 

 

 

 

 

22

 

31

 

48

 

69

 

1,545

 

1,563

 

 

(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 additional 20 percent interest acquisition in April 2006.

 

Great Lakes
 
Investments in unconsolidated affiliates  
Summarized financial information for equity method investment

 

 

(unaudited)

 

 

 

 

 

 

(millions of dollars)

 

June 30, 2013

 

 

December 31, 2012

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current assets

 

41

 

 

56

 

Plant, property and equipment, net

 

784

 

 

799

 

 

 

825

 

 

855

 

 

 

 

 

 

 

 

LIABILITIES AND PARTNERS’ EQUITY

 

 

 

 

 

 

Current liabilities

 

22

 

 

30

 

Long-term debt, including current maturities

 

345

 

 

354

 

Partners’ equity

 

458

 

 

471

 

 

 

825

 

 

855

 

 

 

 

Three months ended

 

Six months ended

 

(unaudited)

 

June 30,

 

June 30,

 

(millions of dollars)

 

2013  

 

2012  

 

2013   

 

2012     

 

 

 

 

 

 

 

 

 

 

 

Transmission revenues

 

29

 

48

 

64

 

97

 

Operating expenses

 

(15)

 

(16)

 

(30)

 

(31)

 

Depreciation

 

(8)

 

(8)

 

(16)

 

(16)

 

Financial charges and other

 

(7)

 

(7)

 

(14)

 

(14)

 

Net income/(loss)

 

(1)

 

17

 

4

 

36

 

 

Northern Border
 
Investments in unconsolidated affiliates  
Summarized financial information for equity method investment

 

 

(unaudited)

 

 

 

 

 

(millions of dollars)

 

June 30, 2013

 

 

December 31, 2012

 

 

 

 

 

 

ASSETS

 

 

 

 

 

Cash and cash equivalents

 

31

 

 

28

Other current assets

 

33

 

 

35

Plant, property and equipment, net

 

1,212

 

 

1,234

Other assets

 

30

 

 

31

 

 

1,306

 

 

1,328

 

 

 

 

 

 

LIABILITIES AND PARTNERS’ EQUITY

 

 

 

 

 

Current liabilities

 

52

 

 

53

Deferred credits and other

 

18

 

 

16

Long-term debt, including current maturities

 

473

 

 

473

Partners’ equity

 

 

 

 

 

Partners’ capital

 

765

 

 

789

Accumulated other comprehensive loss

 

(2)

 

 

(3)

 

 

1,306

 

 

1,328

 

 

 

Three months ended

 

Six months ended

(unaudited)

 

June 30,

 

June 30,

(millions of dollars)

 

2013  

 

2012  

 

2013   

 

2012     

 

 

 

 

 

 

 

 

 

Transmission revenues

 

69  

 

73  

 

141  

 

154

Operating expenses

 

(19) 

 

(18) 

 

(38) 

 

(36)

Depreciation

 

(14) 

 

(16) 

 

(29) 

 

(32)

Financial charges and other

 

(6) 

 

(7) 

 

(11) 

 

(13)

Net income

 

30  

 

32  

 

63  

 

73

 

GTN
 
Investments in unconsolidated affiliates  
Summarized financial information for equity method investment

 

 

(unaudited)

 

 

 

 

 

(millions of dollars)

 

June 30, 2013

 

December 31, 2012

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

Current assets

 

51

 

50

 

Plant, property and equipment, net

 

1,152

 

1,174

 

Other assets

 

1

 

1

 

 

 

1,204

 

1,225

 

 

 

 

 

 

 

LIABILITIES AND MEMBERS’ EQUITY

 

 

 

 

 

Current liabilities

 

13

 

16

 

Deferred credits and other

 

21

 

20

 

Long-term debt, including current maturities

 

325

 

325

 

Members’ capital

 

845

 

864

 

 

 

1,204

 

1,225

 

 

 

 

 

Three months ended

 

Six months ended

(unaudited)

 

June 30,

 

June 30,

(millions of dollars)

 

2013  

 

2012  

 

2013   

 

2012     

 

 

 

 

 

 

 

 

 

Transmission revenues

 

46  

 

48  

 

95  

 

100

Operating expenses

 

(12) 

 

(13) 

 

(23) 

 

(24)

Depreciation

 

(14) 

 

(14) 

 

(27) 

 

(27)

Financial charges and other

 

(5) 

 

(4) 

 

(9) 

 

(9)

Net income

 

15  

 

17  

 

36  

 

40

 

Bison
 
Investments in unconsolidated affiliates  
Summarized financial information for equity method investment

 

 

 (unaudited)

 

 

 

 

 

(millions of dollars)

 

June 30, 2013

 

December 31, 2012

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

Current assets

 

16

 

7

 

Plant, property and equipment, net

 

640

 

649

 

 

 

656

 

656

 

 

 

 

 

 

 

LIABILITIES AND MEMBERS’ EQUITY

 

 

 

 

 

Current liabilities

 

7

 

25

 

Members’ capital

 

649

 

631

 

 

 

656

 

656

 

 

 

 

Three months ended

 

Six months ended

(unaudited)

 

June 30,

 

June 30,

(millions of dollars)

 

2013  

 

2012  

 

2013   

 

2012     

 

 

 

 

 

 

 

 

 

Transmission revenues

 

20  

 

20  

 

40   

 

40    

Operating expenses

 

(4) 

 

(4) 

 

(8)  

 

(7)   

Depreciation

 

(5) 

 

(5) 

 

(10)  

 

(10)   

Net income

 

11  

 

11  

 

22   

 

23