EQUITY INVESTMENTS (Tables)

9 Months Ended

Sep. 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		Nine months ended
(unaudited)	September 30,		September 30,		September 30,		September 30,	December 31,
(millions of dollars)	2019		2019	2018	2019	2018	2019	2018
Northern Border	50.00	%	15	16	50	49	426	497
Great Lakes	46.45	%	8	9	37	45	482	489
Iroquois	49.34	%	8	9	28	35	186	210
			31	34	115	129	1,094	1,196

Northern Border

EQUITY INVESTMENTS

Schedule of equity investments and summarized financial information for equity investees

(unaudited)
(millions of dollars)	September 30, 2019	December 31, 2018
ASSETS
Cash and cash equivalents	38	10
Other current assets	34	36
Property, plant and equipment, net	1,000	1,037
Other assets	13	13
	1,085	1,096
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	60	34
Deferred credits and other	37	35
Long-term debt, net (a)	365	264
Partners’ equity
Partners’ capital	624	764
Accumulated other comprehensive loss	(1)	(1)
	1,085	1,096

	Three months ended		Nine months ended
(unaudited)	September 30,		September 30,
(millions of dollars)	2019	2018	2019	2018
Transmission revenues	73	72	221	212
Operating expenses	(21)	(19)	(61)	(57)
Depreciation	(15)	(15)	(46)	(45)
Financial charges and other	(5)	(5)	(13)	(12)
Net income	32	33	101	98

(a) No current maturities as of September 30, 2019 and December 31, 2018. At September 30, 2019, Northern Border was 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)	September 30, 2019	December 31, 2018
ASSETS
Current assets	59	75
Property, plant and equipment, net	685	689
	744	764
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	29	26
Net long-term debt, including current maturities (a)	229	240
Other long term liabilities	5	4
Partners' equity	481	494
	744	764

	Three months ended		Nine months ended
(unaudited)	September 30,		September 30,
(millions of dollars)	2019	2018	2019	2018
Transmission revenues	51	49	174	183
Operating expenses	(23)	(17)	(58)	(50)
Depreciation	(8)	(8)	(24)	(24)
Financial charges and other	(3)	(5)	(12)	(13)
Net income	17	19	80	96

(a) Includes current maturities of $21 million as of September 30, 2019 and as of December 31, 2018. At September 30, 2019, Great Lakes was 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)	September 30, 2019	December 31, 2018
ASSETS
Cash and cash equivalents	38	80
Other current assets	33	32
Property, plant and equipment, net	570	581
Other assets	14	8
	655	701
LIABILITIES AND PARTNERS’ EQUITY
Current liabilities	21	19
Long-term debt, net (a)	320	325
Other non-current liabilities	20	14
Partners' equity	294	343
	655	701

	Three months ended		Nine months ended
(unaudited)	September 30,		September 30,
(millions of dollars)	2019	2018	2019	2018
Transmission revenues	39	42	131	147
Operating expenses	(15)	(13)	(43)	(41)
Depreciation	(7)	(7)	(22)	(22)
Financial charges and other	(2)	(4)	(9)	(11)
Net income	15	18	57	73

(a) Includes current maturities of $5 million as of September 30, 2019 (December 31, 2018 - $146 million). At September 30, 2019, Iroquois was in compliance with all its financial covenants.