EQUITY INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of equity investments and summarized financial information for equity investees

	Ownership		Equity Earnings		Equity Investments
	Interest at		Three months
(unaudited)	March 31,		ended March 31,		March 31,	December 31,
(millions of dollars)	2018		2018	2017	2018	2017

Northern Border(a)	50	%	17	19	507	512
Great Lakes	46.45	%	24	17	499	479
Iroquois(b)	49.34	%	18	—	211	222

			59	36	1,217	1,213

(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)The Partnership acquired a 49.34% interest in Iroquois on June 1, 2017.

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	March 31, 2018		December 31, 2017

ASSETS
Cash and cash equivalents	22		14
Other current assets	35		36
Plant, property and equipment, net	1,059		1,063
Other assets	14		14

	1,130		1,127


LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	50		38
Deferred credits and other	32		31
Long-term debt, net (a)	264		264
Partners’ equity
Partners’ capital	785		795
Accumulated other comprehensive loss	(1	)	(1	)

	1,130		1,127

	Three months ended
(unaudited)	March 31,
(millions of dollars)	2018		2017

Transmission revenues	72		74
Operating expenses	(19	)	(17	)
Depreciation	(15	)	(15	)
Financial charges and other	(4	)	(4	)

Net income	34		38

(a)

No current maturities as of March 31, 2018 and December 31, 2017.

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	March 31, 2018	December 31, 2017

ASSETS
Current assets	129	107
Plant, property and equipment, net	699	701

	828	808


LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	63	75
Net long-term debt, including current maturities (a)	250	259
Other long term liabilities	—	1
Partners’ equity	515	473

	828	808

	Three months ended
(unaudited)	March 31,
(millions of dollars)	2018		2017

Transmission revenues	81		63
Operating expenses	(17	)	(14	)
Depreciation	(8	)	(7	)
Financial charges and other	(4	)	(5	)

Net income	52		37

(a)

Includes current maturities of $21 million as of March 31, 2018 (December 31, 2017 - $19 million).

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	March 31, 2018	December 31, 2017

ASSETS
Cash and cash equivalents	105	86
Other current assets	32	36
Plant, property and equipment, net	589	591
Other assets	9	8

	735	721


LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	50	17
Net long-term debt, including current maturities (a)	329	329
Other non-current liabilities	12	9
Partners’ equity	344	366

	735	721

(unaudited)	Three months ended
(millions of dollars)	March 31, 2018

Transmission revenues	60
Operating expenses	(14	)
Depreciation	(7	)
Financial charges and other	(4	)

Net income	35

(a)

Includes current maturities of $4 million as of March 31, 2018 (December 31, 2017 - $4 million).