QUARTERLY FINANCIAL DATA (unaudited)

12 Months Ended

Dec. 31, 2016

QUARTERLY FINANCIAL DATA (unaudited)

QUARTERLY FINANCIAL DATA (unaudited)

NOTE 17    QUARTERLY FINANCIAL DATA (unaudited)

The following sets forth selected unaudited financial data for the four quarters in 2016 and 2015:

Quarter ended (millions of dollars except per common unit amounts)	Mar 31	Jun 30	Sept 30	Dec 31
2016
Transmission revenues	86	89	91	91
Equity earnings(a)(c)	42	22	24	28
Net income	73	54	58	60
Net income attributable to controlling interests	73	54	58	60
Net income per common unit	$ 1.10	$ 0.76	$ 0.65	$ 0.70
Cash distribution paid	71	60	65	66
2015
Transmission revenues	87	85	83	89
Equity earnings(a)	31	15	17	34
Impairment of equity-method investment(b)	–	–	–	(199	)
Net income (loss)	64	44	49	(137	)
Net income (loss) attributable to controlling interests	57	44	49	(137	)
Net income (loss) per common unit	$ 0.88	$ 0.66	$ 0.70	$ (2.24	)
Cash distribution paid	55	55	59	59

(a)	Equity Earnings represents our share in investee's earnings and does not include any impairment charge on equity method goodwill included as part of the carrying value of our equity investments.
(b)	During the three months ended December 31, 2015, we recognized an impairment charge on our investment in Great Lakes amounting to $199 million. During the year ended December 31, 2015, no impairment has been identified on our investment in Northern Border (Refer to Note 4).
(c)	During the year ended December 31, 2016, no impairment has been identified related to our equity investments in Northern Border, Great Lakes or PNGTS.