INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)

6 Months Ended

Jun. 30, 2011

INVESTMENTS IN UNCONSOLIDATED AFFILIATES

Schedule of equity method investments in unconsolidated affiliates

			Equity Earnings from Unconsolidated Affiliates								Investment in Unconsolidated Affiliates
(unaudited)			Three months ended June 30,				Six months ended June 30,				June 30,		December 31,
(millions of dollars)			2011		2010		2011		2010		2011		2010
Great Lakes	46.45	%		17.0		13.1		35.0		29.4		691.0		690.0
Northern Border(a)	50	%		16.2		12.2		36.8		26.8		489.3		504.8
GTN(b)	25	%		2.4		-		2.4		-		248.3		-
Bison(b)	25	%		1.9		-		1.9		-		163.2		-
				37.5		25.3		76.1		56.2		1,591.8		1,194.8

(a)The Partnership owns a 50 percent general partner interest in Northern Border. Equity income 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 additional 20 percent acquisition in April 2006.

(b) Represents equity earnings from May 3, 2011, date of acquisition, to June 30, 2011.

Summarized financial information for Great Lakes equity method investment

(unaudited)	Three months ended  June 30,						Six months ended  June 30,
(millions of dollars)	2011			2010			2011			2010
Transmission revenues		63.3			62.9			133.5			135.8
Operating expenses		(15.7	)		(15.6	)		(30.0	)		(29.8	)
Depreciation and amortization		(8.0	)		(10.1	)		(16.1	)		(24.4	)
Financial charges and other		(7.5	)		(7.7	)		(15.1	)		(15.6	)
Michigan business tax		4.6			(1.2	)		3.0			(2.7	)
Net income		36.7			28.3			75.3			63.3

(unaudited)	June 30,		December 31,
(millions of dollars)	2011		2010
Assets
Current assets		82.7		83.7
Plant, property and equipment, net		832.0		846.9
Other assets		0.6		0.6
		915.3		931.2
Liabilities and Partners' Equity
Current liabilities		31.4		34.9
Deferred credits		0.4		5.6
Long-term debt, including current maturities		383.0		392.0
Partners' equity		500.5		498.7
		915.3		931.2

Summarized financial information for Northern Border equity method investment

(unaudited)	Three months ended  June 30,						Six months ended  June 30,
(millions of dollars)	2011			2010			2011			2010
Transmission revenues		72.3			65.8			152.5			134.9
Operating expenses		(18.4	)		(19.7	)		(35.9	)		(37.7	)
Depreciation and amortization		(15.4	)		(15.4	)		(30.7	)		(30.8	)
Financial charges and other		(5.7	)		(6.0	)		(11.4	)		(12.0	)
Net income		32.8			24.7			74.5			54.4

(unaudited)	June 30,		December 31,
(millions of dollars)	2011		2010
Assets
Current assets		39.4		47.3
Plant, property and equipment, net		1,276.5		1,294.8
Other assets		22.6		22.9
		1,338.5		1,365.0
Liabilities and Partners' Equity
Current liabilities		42.0		46.7
Deferred credits		10.9		9.7
Long-term debt, including current maturities		547.6		540.6
Partners' Equity		738.0		768.0
		1,338.5		1,365.0