Trans Mountain Transaction (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

Major income and expense line items associated with the Trans Mountain Asset Group that have been presented within the caption Discontinued Operations in the accompanying consolidated statements of income were as follows:

Year Ended December 31,	2018(a)	2017	2016
(In millions of Canadian dollars)
Revenues	214.3	324.9	328.3
Depreciation and amortization	(46.8)	(70.7)	(73.0)
Operating expenses, including general and administrative	(89.8)	(122.0)	(115.5)
Interest and other income (expense)(b)	(22.4)	21.4	24.5
Income from operations of the Trans Mountain Asset Group before income taxes	55.3	153.6	164.3
Gain on sale of the Trans Mountain Asset Group before income taxes	1,197.0	—	—
Income from Discontinued Operations before income taxes	1,252.3	153.6	164.3
Income tax benefit (expense)	65.9	(43.4)	(32.9)
Income from Discontinued Operations, Net of Tax	1,318.2	110.2	131.4

The Trans Mountain Asset Group’s carrying value of assets and liabilities have been presented as held for sale in the accompanying consolidated balance sheet as of December 31, 2017 and include:

December 31,	2017
(In millions of Canadian dollars)
Cash and cash equivalents	128.1
Accounts receivable	46.0
Other current assets	18.6
Property, plant and equipment, net	2,719.6
Goodwill(c)	248.0
Non-current regulatory assets	29.1
Other non-current assets	53.7
Total assets of the Trans Mountain Asset Group	3,243.1
Credit Facility	—
Accounts payable	97.6
Current regulatory liabilities	103.1
Other current liabilities	6.6
Pension and postretirement benefits	75.4
Other non-current liabilities	38.1
Total liabilities of the Trans Mountain Asset Group	320.8

Our net cash flows from operating and investing activities from the Trans Mountain Asset Group included in the accompanying consolidated statements of cash flows were as follows:

Year Ended December 31,	2018(a)	2017	2016
(Net cash provided by (used in) in millions of Canadian dollars)
Operating activities	182.3	58.1	25.5
Investing activities	(507.3)	(462.6)	(190.3)

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a.Amounts are for the period January 1, 2018 to August 31, 2018, the closing of the Trans Mountain Transaction.

b.2018 includes approximately $60.5 million pre-tax write off of deferred financing costs, see Note 10. 2017 and 2016 amounts also include interest expenses from our credit facilities and KMI Loans that were allocated to discontinued operations for borrowings that were directly related to the Trans Mountain Asset Group.

c.Goodwill was evaluated for impairment on May 31 of each year and no impairments were recorded in 2018, 2017 and 2016.