CASH DISTRIBUTIONS

12 Months Ended

Dec. 31, 2020

Partners' Capital Account, Distributions [Abstract]

The Partnership makes cash distributions to its partners with respect to each calendar quarter within 45 days after the end of each quarter. Distributions are based on available cash, as defined in the Partnership Agreement, which includes all cash and cash equivalents of the Partnership and working capital borrowings less reserves established by the General Partner.

Pursuant to the Partnership Agreement, the General Partner receives two percent of all cash distributions in regard to its general partner interest and is also entitled to incentive distributions as described below. The unitholders receive the remaining portion of the cash distribution.

The following table illustrates the percentage allocations of available cash from operating surplus between the common unitholders and our General Partner after providing for Class B distributions based on the specified target distribution levels. The percentage interests set forth below for our General Partner include its IDRs and two percent general partner interest and assume our General Partner has contributed any additional capital necessary to maintain its two percent general partner interest. The percentage interest distributions to the General Partner illustrated below that are in excess of its two percent general partner interest represent the IDRs.


		Marginal Percentage Interest in Distribution
	Total Quarterly Distribution Per Unit Target Amount	Common Unitholders		General Partner
Minimum Quarterly Distribution	$0.45	98	%	2	%
First Target Distribution	above $0.45 up to $0.81	98	%	2	%
Second Target Distribution	above $0.81 up to $0.88	85	%	15	%
Thereafter	above $0.88	75	%	25	%

The following table provides information about our distributions (in millions except per unit distributions amounts).


				Limited Partners				General Partner
Declaration Date	Payment Date	Per Unit Distribution		Common Units		Class B Units(b)		2		%	IDRs(a)		Total Cash Distribution
1/23/2018	2/13/2018	$	1.00	$	71	$	15	$	2		$	3	$	91
5/1/2018	5/15/2018	$	0.65	$	46	$	—	$	1		$	—	$	47
7/26/2018	8/15/2018	$	0.65	$	46	$	—	$	1		$	—	$	47
10/23/2018	11/14/2018	$	0.65	$	46	$	—	$	1		$	—	$	47
1/22/2019	2/11/2019	$	0.65	$	46	$	13	$	1		$	—	$	60
4/23/2019	5/13/2019	$	0.65	$	46	$	—	$	1		$	—	$	47
7/23/2019	8/14/2019	$	0.65	$	46	$	—	$	1		$	—	$	47
10/22/2019	11/14/2019	$	0.65	$	46	$	—	$	1		$	—	$	47
1/21/2020	2/14/2020	$	0.65	$	46	$	8	$	1		$	—	$	55
4/21/2020	5/12/2020	$	0.65	$	46	$	—	$	1		$	—	$	47
7/23/2020	8/14/2020	$	0.65	$	46	$	—	$	1		$	—	$	47
10/21/2020	11/13/2020	$	0.65	$	46	$	—	$	1		$	—	$	47
1/19/2021(c)	2/12/2021(c)	$	0.65	$	46	$	—	$	1		$	—	$	47

(a)The distributions paid during the year ended December 31, 2020 and 2019 included no incentive distributions to the General Partner (2018 - $3 million).

(b)The Class B units issued by us on April 1, 2015 represent limited partner interests in us and entitle TC Energy to an annual distribution which is an amount based on 30 percent of GTN’s annual distributions after exceeding certain annual thresholds and adjustments (refer to Note 10).

(c)On February 12, 2021, we paid a cash distribution of $0.65 per unit on our outstanding common units to unitholders of record at the close of business on January 29, 2021 (refer to Note 21).