EQUITY INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2018

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

	Ownership		Equity Earnings				Equity Investments
	Interest at		Three months		Six Months
(unaudited)	June 30,		ended June 30,		ended June 30,		June 30,	December 31,
(millions of dollars)	2018		2018	2017	2018	2017	2018	2017
Northern Border (a)	50	%	15	15	32	34	505	512
Great Lakes	46.45	%	12	6	36	23	485	479
Iroquois(b)	49.34	%	9	3	27	3	221	222
			36	24	95	60	1,211	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) Equity earnings from Iroquois is net of the 29-year amortization of a $10 million purchase price discrepancy assumed by the Partnership from TransCanada at the time of the 2017 Acquisition.

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2018		December 31, 2017
ASSETS
Cash and cash equivalents	11		14
Other current assets	34		36
Plant, property and equipment, net	1,056		1,063
Other assets	14		14
	1,115		1,127
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	37		38
Deferred credits and other	33		31
Long-term debt, net (a)	264		264
Partners’ capital	782		795
Accumulated other comprehensive loss	(1	)	(1	)
	1,115		1,127

^(a) No current maturities as of June 30, 2018 and December 31, 2017.

	Three months ended				Six months ended
(unaudited)	June 30,				June 30,
(millions of dollars)	2018		2017		2018		2017
Transmission revenues	68		69		140		144
Operating expenses	(19	)	(18	)	(38	)	(36	)
Depreciation	(15	)	(15	)	(30	)	(30	)
Financial charges and other	(4	)	(5	)	(7	)	(9	)
Net income	30		31		65		69

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2018	December 31, 2017
ASSETS
Current assets	89	107
Plant, property and equipment, net	695	701
	784	808
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	49	75
Net long-term debt, including current maturities (a)	250	259
Other long term liabilities	—	1
Partners’ equity	485	473
	784	808

^(a) Includes current maturities of $21 million as of June 30, 2018 (December 31, 2017 - $19 million).

	Three months ended				Six months ended
(unaudited)	June 30,				June 30,
(millions of dollars)	2018		2017		2018		2017
Transmission revenues	53		41		134		103
Operating expenses	(15	)	(17	)	(32	)	(30	)
Depreciation	(8	)	(7	)	(16	)	(14	)
Financial charges and other	(5	)	(5	)	(9	)	(10	)
Net income	25		12		77		49

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2018	December 31, 2017
ASSETS
Cash and cash equivalents	100	86
Other current assets	26	36
Plant, property and equipment, net	584	591
Other assets	10	8
	720	721
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	17	17
Net long-term debt, including current maturities (a)	327	329
Other non-current liabilities	13	9
Partners’ equity	363	366
	720	721

^(a) Includes current maturities of $145 million as of June 30, 2018 (December 31, 2017 - $4 million).

(unaudited) (millions of dollars)	Three months ended June 30, 2018		One month ended June 30, 2017		Six months ended June 30, 2018		One month ended June 30, 2017
Transmission revenues	44		14		105		14
Operating expenses	(14	)	(5	)	(28	)	(5	)
Depreciation	(7	)	(2	)	(15	)	(2	)
Financial charges and other	(4	)	(1	)	(7	)	(1	)
Net income	19		6		55		6