NET INCOME PER COMMON UNIT (Tables)

3 Months Ended

Mar. 31, 2018

NET INCOME PER COMMON UNIT

Schedule of net income per common unit

(unaudited)	Three months ended March 31,
(millions of dollars, except per common unit amounts)	2018			2017
Net income attributable to controlling interests	96			77		(a)
Net income attributable to PNGTS’ former parent (b)	—			(2		)(a)
Net income allocable to General Partner and Limited Partners	96			75
Net income attributable to the General Partner	(2		)	(1		)
Incentive distributions attributable to the General Partner (c)	—			(2		)
Net income attributable to common units	94			72
Weighted average common units outstanding (millions) — basic and diluted	71.2			68.3
Net income per common unit — basic and diluted	$	1.32		$	1.05	(d)

(a) Recast to consolidate PNGTS (Refer to Note 2).

(b) Net income allocable to General and Limited Partners excludes net income attributed to PNGTS’ former parent as it was allocated to TransCanada and was not allocable to either the general partner, common units or Class B units.

(c) Under the terms of the Partnership Agreement, for any quarterly period, the participation of the incentive distribution rights (IDRs) is limited to the available cash distributions declared. Accordingly, incentive distributions allocated to the General Partner are based on the Partnership’s available cash during the current reporting period, but declared and paid in the subsequent reporting period.

(d) Net income per common unit prior to recast (Refer to Note 2).