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OTHER LIABILITIES
12 Months Ended
Dec. 31, 2016
OTHER LIABILITIES  
OTHER LIABILITIES

 

NOTE 8 OTHER LIABILITIES

 

December 31 (millions of dollars)

 

2016

 

2015

 

 

 

 

 

 

 

Regulatory liabilities

 

25

 

24

 

Other liabilities

 

3

 

3

 

 

 

 

 

 

 

 

 

28

 

27

 

 

 

 

 

 

 

 

The Partnership collects estimated future removal costs related to its transmission and gathering facilities in its current rates and recognizes regulatory liabilities in this respect in the balance sheet. Estimated costs associated with the future removal of transmission and gathering facilities are collected through depreciation as allowed by FERC. These amounts do not represent asset retirement obligations as defined by FASB ASC 410, Accounting for Asset Retirement Obligations.