EQUITY INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2019

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

	Ownership		Equity Earnings				Equity Investments
	Interest at		Three months ended		Six months ended
(unaudited)	June 30,		June 30,		June 30,		June 30,	December 31,
(millions of dollars)	2019		2019	2018	2019	2018	2019	2018
Northern Border	50	%	14	15	35	32	431	497
Great Lakes	46.45	%	9	12	29	36	484	489
Iroquois	49.34	%	7	9	20	27	203	210
			30	36	84	95	1,118	1,196

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2019	December 31, 2018
ASSETS
Cash and cash equivalents	26	10
Other current assets	33	36
Property, plant and equipment, net	1,008	1,037
Other assets	13	13
	1,080	1,096
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	46	34
Deferred credits and other	37	35
Long-term debt, net (a)	365	264
Partners’ equity
Partners’ capital	633	764
Accumulated other comprehensive loss	(1)	(1)
	1,080	1,096

	Three months ended		Six months ended
(unaudited)	June 30,		June 30,
(millions of dollars)	2019	2018	2019	2018
Transmission revenues	67	68	148	140
Operating expenses	(20)	(19)	(40)	(38)
Depreciation	(16)	(15)	(31)	(30)
Financial charges and other	(4)	(4)	(8)	(7)
Net income	27	30	69	65

(a) No current maturities as of June 30, 2019 and December 31, 2018. At June 30, 2019, Northern Border is in compliance with all its financial covenants.

Great Lakes

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2019	December 31, 2018
ASSETS
Current assets	56	75
Property, plant and equipment, net	687	689
	743	764
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	26	26
Net long-term debt, including current maturities (a)	229	240
Other long term liabilities	4	4
Partners' equity	484	494
	743	764

	Three months ended		Six months ended
(unaudited)	June 30,		June 30,
(millions of dollars)	2019	2018	2019	2018
Transmission revenues	51	53	123	134
Operating expenses	(19)	(15)	(35)	(32)
Depreciation	(8)	(8)	(16)	(16)
Financial charges and other	(5)	(5)	(9)	(9)
Net income	19	25	63	77

(a) Includes current maturities of $21 million as of June 30, 2019 and as of December 31, 2018. At June 30, 2019, Great Lakes is in compliance with all its financial covenants.

Iroquois

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	June 30, 2019	December 31, 2018
ASSETS
Cash and cash equivalents	73	80
Other current assets	25	32
Property, plant and equipment, net	573	581
Other assets	14	8
	685	701
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	15	19
Long-term debt, net (a)	319	325
Other non-current liabilities	21	14
Partners' equity	330	343
	685	701

	Three months ended		Six months ended
(unaudited)	June 30,		June 30,
(millions of dollars)	2019	2018	2019	2018
Transmission revenues	40	44	92	105
Operating expenses	(13)	(14)	(28)	(28)
Depreciation	(8)	(7)	(15)	(15)
Financial charges and other	(4)	(4)	(7)	(7)
Net income	15	19	42	55

(a) Includes current maturities of $4 million as of June 30, 2019 (December 31, 2018 - $146 million). At June 30, 2019, Iroquois is in compliance with all its financial covenants.