EQUITY INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2017

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

	Ownership		Equity Earnings				Equity Investments
	Interest at		Three months		Nine Months
(unaudited)	September 30,		ended September 30,		ended September 30,		September 30,	December 31,
(millions of dollars)	2017		2017	2016(b)	2017	2016(b)	2017	2016(b)
Northern Border (a)	50	%	16	18	50	52	516	444
Great Lakes	46.45	%	2	4	24	23	469	474
Iroquois	49.34	%	9	—	13	—	222	—
			27	22	87	75	1,207	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 Notes 2 and 6).

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	September 30, 2017		December 31, 2016
ASSETS
Cash and cash equivalents	24		14
Other current assets	36		36
Plant, property and equipment, net	1,069		1,089
Other assets	14		14
	1,143		1,153
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	48		38
Deferred credits and other	30		28
Long-term debt, including current maturities, net	264		430
Partners’ equity
Partners’ capital	802		659
Accumulated other comprehensive loss	(1	)	(2	)
	1,143		1,153

	Three months ended				Nine months ended
(unaudited)	September 30,				September 30,
(millions of dollars)	2017		2016		2017		2016
Transmission revenues	73		74		217		218
Operating expenses	(20	)	(18	)	(56	)	(53	)
Depreciation	(15	)	(15	)	(45	)	(44	)
Financial charges and other	(5	)	(5	)	(14	)	(16	)
Net income	33		36		102		105

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	September 30, 2017	December 31, 2016
ASSETS
Current assets	56	66
Plant, property and equipment, net	705	714
	761	780
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	41	40
Net long-term debt, including current maturities	269	278
Partners’ equity	451	462
	761	780

	Three months ended				Nine months ended
(unaudited)	September 30,				September 30,
(millions of dollars)	2017		2016		2017		2016
Transmission revenues	34		36		138		133
Operating expenses	(19	)	(15	)	(49	)	(45	)
Depreciation	(7	)	(7	)	(21	)	(21	)
Financial charges and other	(5	)	(6	)	(16	)	(17	)
Net income	3		8		52		50

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	September 30, 2017	December 31, 2016
ASSETS
Cash and cash equivalents	93	86
Other current assets	33	34
Plant, property and equipment, net	592	604
Other assets	8	7
	726	731
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	20	18
Net long-term debt, including current maturities	332	335
Other non-current liabilities	9	6
Partners’ equity	365	372
	726	731

	Three months ended				Nine months ended
(unaudited)	September 30,				September 30,
(millions of dollars)	2017		2016		2017		2016
Transmission revenues	43		45		142		145
Operating expenses	(13	)	(13	)	(41	)	(43	)
Depreciation	(7	)	(9	)	(22	)	(28	)
Financial charges and other	(4	)	(4	)	(13	)	(12	)
Net income	19		19		66		62