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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Transmission revenues, net (Notes 4 and 6) $ 103 $ 100 $ 328 $ 313
Equity earnings (Note 5) 34 27 129 87
Operation and maintenance expenses (15) (16) (48) (47)
Property taxes (7) (7) (21) (21)
General and administrative (2) (1) (4) (6)
Depreciation (25) (25) (73) (73)
Financial charges and other (Note 15) (23) (23) (69) (59)
Net income before taxes 65 55 242 194
Income taxes (Note 18)     (1) (1)
Net income 65 55 241 193
Net income attributable to non-controlling interests 3 1 10 7
Net income attributable to controlling interests 62 54 231 186
Net income attributable to controlling interest allocation (Note 9)        
General Partner 1 4 5 12
TransCanada and its subsidiaries 4 8 4 10
Net income attributable to controlling interests 62 54 231 186
Common Units        
Net income attributable to controlling interest allocation (Note 9)        
Net income attributable to common units $ 57 $ 42 $ 222 $ 164
Net income per common unit (Note 9) - basic and diluted (in dollars per unit) $ 0.79 $ 0.61 $ 3.11 $ 2.38
Weighted average common units outstanding - basic (in units) 71.3 69.4 71.3 68.9
Common units outstanding, end of period 71.3 69.6 71.3 69.6