EQUITY INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2017

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

	Ownership		Equity Earnings				Equity Investments
	Interest at		Three months		Six Months
(unaudited)	June 30,		ended June 30,		ended June 30,		June 30,	December 31,
(millions of dollars)	2017		2017	2016(b)	2017	2016(b)	2017	2016(b)
Northern Border (a)	50	%	15	16	34	34	437	444
Great Lakes	46.45	%	6	4	23	19	475	474
Iroquois	49.34	%	3	—	3	—	226	—
			24	20	60	53	1,138	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 interest in April 2006.

(b) Recast to eliminate equity earnings from PNGTS and consolidate PNGTS for all periods presented (Refer to Note 2).

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2017		December 31, 2016
ASSETS
Cash and cash equivalents	16		14
Other current assets	34		36
Plant, property and equipment, net	1,077		1,089
Other assets	14		14
	1,141		1,153
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	37		38
Deferred credits and other	30		28
Long-term debt, including current maturities, net	430		430
Partners’ equity
Partners’ capital	645		659
Accumulated other comprehensive loss	(1	)	(2	)
	1,141		1,153

	Three months ended				Six months ended
(unaudited)	June 30,				June 30,
(millions of dollars)	2017		2016		2017		2016
Transmission revenues	69		70		144		144
Operating expenses	(18	)	(18	)	(36	)	(35	)
Depreciation	(15	)	(15	)	(30	)	(29	)
Financial charges and other	(5	)	(6	)	(9	)	(11	)
Net income	31		31		69		69

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2017	December 31, 2016
ASSETS
Current assets	61	66
Plant, property and equipment, net	705	714
	766	780
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	34	40
Long-term debt, including current maturities, net	269	278
Partners’ equity	463	462
	766	780

	Three months ended				Six months ended
(unaudited)	June 30,				June 30,
(millions of dollars)	2017		2016		2017		2016
Transmission revenues	41		36		103		97
Operating expenses	(17	)	(15	)	(30	)	(30	)
Depreciation	(7	)	(7	)	(14	)	(14	)
Financial charges and other	(5	)	(5	)	(10	)	(11	)
Net income	12		9		49		42

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2017	December 31, 2016
ASSETS
Cash and cash equivalents	100	88
Other current assets	26	27
Plant, property and equipment, net	595	611
Other assets	8	7
	729	733
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	15	16
Long-term debt, including current maturities, net	332	338
Other non-current liabilities	9	5
Partners’ equity	373	374
	729	733

	Three months ended				Six months ended
(unaudited)	June 30,				June 30,
(millions of dollars)	2017		2016		2017		2016
Transmission revenues	45		47		98		100
Operating expenses	(13	)	(15	)	(29	)	(30	)
Depreciation	(7	)	(10	)	(14	)	(19	)
Financial charges and other	(5	)	(4	)	(9	)	(8	)
Net income	20		18		46		43