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INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)
9 Months Ended
Sep. 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
September 30,
    
Nine months ended
September 30,
    
September 30,
    
December 31,
(millions of dollars)
        
2011
    
2010
    
2011
    
2010
    
2011
    
2010
Great Lakes
     46.45 %     14.3       14.6       49.3       44.0       687.1       690.0
Northern Border(a)
     50 %     19.6       21.0       56.4       47.8       537.9       504.8
GTN(b)
     25 %     4.7       -       7.1       -       253.0       -
Bison(b)
     25 %     1.8       -       3.7       -       165.0       -
              40.4       35.6       116.5       91.8       1,643.0       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 September 30, 2011.
Summarized financial information for Great Lakes equity method investment

 
 
(unaudited)
  
Three months ended
 September 30,
    
Nine months ended
 September 30,
  
(millions of dollars)
  
2011
  
2010
  
2011
  
2010
Transmission revenues
     62.9       61.9       196.4       197.7  
Operating expenses
     (15.7 )     (13.3 )     (45.7 )     (43.1 )
Depreciation and amortization
     (8.1 )     (8.0 )     (24.2 )     (32.4 )
Financial charges and other
     (7.4 )     (7.7 )     (22.5 )     (23.3 )
Michigan business tax
     (0.9 )     (1.4 )     2.1       (4.1 )
Net income
     30.8       31.5       106.1       94.8  

(unaudited)
  
September 30,
  
December 31,
(millions of dollars)
  
2011
  
2010
Assets
            
Current assets
     74.3       83.7  
Plant, property and equipment, net
     827.5       846.9  
Other assets
     0.6       0.6  
 
     902.4       931.2  
Liabilities and Partners' Equity
                
Current liabilities
     26.8       34.9  
Deferred credits
     0.4       5.6  
Long-term debt, including current maturities
     383.0       392.0  
Partners' equity
     492.2       498.7  
      902.4       931.2  
Summarized financial information for Northern Border equity method investment
 
 
(unaudited)
  
Three months ended
 September 30,
  
Nine months ended
 September 30,
(millions of dollars)
  
2011
  
2010
  
2011
  
2010
Transmission revenues
     77.7       81.0       230.2       215.9  
Operating expenses
     (17.3 )     (17.6 )     (53.2 )     (55.3 )
Depreciation and amortization
     (15.3 )     (15.4 )     (46.0 )     (46.2 )
Financial charges and other
     (5.6 )     (5.6 )     (17.0 )     (17.6 )
Net income
     39.5       42.4       114.0       96.8  


(unaudited)
  
September 30,
  
December 31,
(millions of dollars)
  
2011
  
2010
Assets
            
Current assets
     71.7       47.3  
Plant, property and equipment, net
     1,270.0       1,294.8  
Other assets
     28.3       22.9  
 
     1,370.0       1,365.0  
Liabilities and Partners' Equity
                
Current liabilities
     50.4       46.7  
Deferred credits
     11.5       9.7  
Long-term debt, including current maturities
     472.6       540.6  
Partners' equity
     835.5       768.0  
      1,370.0       1,365.0  
Summarized financial information for GTN equity method investments
 
    Three months ended   For the period May 3
(unaudited)
    September 30,    to September 30,
(millions of dollars)
  
2011
  
2011
Transmission revenues
     50.4       83.4  
Operating expenses
     (13.6 )     (22.5 )
Depreciation and amortization
     (9.2 )     (15.5 )
Financial charges and other
     (4.3 )     (10.0 )
Net income
     23.3       35.4  
 

(unaudited)
  
September 30,
(millions of dollars)
  
2011
Assets
      
Current assets
     163.5  
Plant, property and equipment, net
     810.4  
Other assets
     3.5  
 
     977.4  
Liabilities and Members' Capital
        
Current liabilities
     17.4  
Deferred credits
     19.6  
Long-term debt, including current maturities
     325.0  
Members' capital
     615.4  
      977.4  
Summarized financial information for Bison equity method investments
 
    Three months ended  
 
For the period May 3
(unaudited)
   September 30,    to September 30,
(millions of dollars)
  
2011
  
2011
Transmission revenues
     17.8       31.7  
Operating expenses
     (5.9 )     (9.1 )
Depreciation and amortization
     (4.5 )     (7.5 )
Net income
     7.4       15.1  

(unaudited)
  
September 30,
(millions of dollars)
  
2011
Assets
      
Current assets
     44.1  
Plant, property and equipment, net
     625.3  
 
     669.4  
Liabilities and Members' Capital
        
Current liabilities
     25.5  
Members' capital
     643.9  
      669.4