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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Transmission revenues $ 100 $ 103 [1] $ 313 $ 315 [1]
Equity earnings (Note 4) 27 22 [1] 87 75 [1]
Operation and maintenance expenses (16) (15) [1] (47) (42) [1]
Property taxes (7) (7) [1] (21) (20) [1]
General and administrative (1) (1) [1] (6) (5) [1]
Depreciation (25) (24) [1] (73) (71) [1]
Financial charges and other (Note 14) (23) (18) [1] (59) (53) [1]
Net income before taxes 55 60 [1] 194 199 [1]
Income taxes (Note 18)     (1) (1) [1]
Net income 55 60 [1] 193 [2] 198 [1]
Net income attributable to non-controlling interests 1 2 [1] 7 10 [1]
Net income attributable to controlling interests 54 58 [1] 186 188 [1]
Net income attributable to controlling interest allocation (Note 8)        
General Partner 4 4 [1] 12 9 [1]
TransCanada and its subsidiaries 8 11 [1] 10 15 [1]
Net income attributable to controlling interests 54 58 [1] 186 188 [1]
Common Units        
Net income attributable to controlling interest allocation (Note 8)        
Limited partners $ 42 $ 43 [1] $ 164 $ 164 [1]
Net income per common unit (Note 8) - basic (in dollars per unit) $ 0.61 $ 0.65 [1],[3] $ 2.38 $ 2.51 [1],[3]
Net income per common unit (Note 8) - diluted (in dollars per unit) $ 0.61 $ 0.65 $ 2.38 $ 2.51
Weighted average common units outstanding - basic (in units) 69.4 66.1 [1] 68.9 65.3 [1]
Weighted average common units outstanding - diluted (in units) 69.4 66.1 68.9 65.3
Common units outstanding, end of period (in units) 69.6 66.6 [1] 69.6 66.6 [1]
[1] Recast to consolidate PNGTS for all periods presented (Refer to Notes 2 and 6).
[2] Recast to consolidate PNGTS for all periods presented (Refer to Notes 2 and 6).
[3] Net income per common unit prior to recast (Refer to Note 2).