EQUITY INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2018

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

	Ownership		Equity Earnings
	Interest at		Three months		Nine months		Equity Investments
(unaudited)	September 30,		ended September 30,		ended September 30,		September 30,	December 31,
(millions of dollars)	2018		2018	2017	2018	2017	2018	2017
Northern Border (a)	50	%	16	16	49	50	501	512
Great Lakes	46.45	%	9	2	45	24	480	479
Iroquois(b)	49.34	%	9	9	35	13	215	222
			34	27	129	87	1,196	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)	September 30, 2018		December 31, 2017
ASSETS
Cash and cash equivalents	17		14
Other current assets	34		36
Property, plant and equipment, net	1,048		1,063
Other assets	14		14
	1,113		1,127
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	43		38
Deferred credits and other	34		31
Long-term debt, net (a)	264		264
Partners’ capital	773		795
Accumulated other comprehensive loss	(1	)	(1	)
	1,113		1,127

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

	Three months ended				Nine months ended
(unaudited)	September 30,				September 30,
(millions of dollars)	2018		2017		2018		2017
Transmission revenues	72		73		212		217
Operating expenses	(19	)	(20	)	(57	)	(56	)
Depreciation	(15	)	(15	)	(45	)	(45	)
Financial charges and other	(5	)	(5	)	(12	)	(14	)
Net income	33		33		98		102

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	September 30, 2018	December 31, 2017
ASSETS
Current assets	53	107
Property, plant and equipment, net	693	701
	746	808
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	18	75
Net long-term debt, including current maturities (a)	250	259
Other long-term liabilities	3	1
Partners’ equity	475	473
	746	808

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

	Three months ended				Nine months ended
(unaudited)	September 30,				September 30,
(millions of dollars)	2018		2017		2018		2017
Transmission revenues	49		34		183		138
Operating expenses	(17	)	(19	)	(50	)	(49	)
Depreciation	(8	)	(7	)	(24	)	(21	)
Financial charges and other	(5	)	(5	)	(13	)	(16	)
Net income	19		3		96		52

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	September 30, 2018	December 31, 2017
ASSETS
Cash and cash equivalents	91	86
Other current assets	34	36
Property, plant and equipment, net	582	591
Other assets	9	8
	716	721
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	23	17
Net long-term debt, including current maturities (a)	327	329
Other non-current liabilities	13	9
Partners’ equity	353	366
	716	721

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

					Nine months		Four months
	Three months ended				ended		ended
(unaudited)	September 30,				September 30,		September 30,
(millions of dollars)	2018		2017		2018		2017
Transmission revenues	42		43		147		57
Operating expenses	(13	)	(13	)	(41	)	(18	)
Depreciation	(7	)	(7	)	(22	)	(9	)
Financial charges and other	(4	)	(4	)	(11	)	(5	)
Net income	18		19		73		25