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Financial Highlights

(unaudited)
(millions of dollars except for common unit amounts)

Three months ended September 30

Nine months ended September 30

 

2011

2010

2011

2010

Partnership cash flows(1)

43.1

45.4

139.1

128.4

Cash distributions paid

(42.0)

(34.4)

(112.8)

(103.3)

Cash distributions declared per common unit(2)

$0.77

$0.75

$2.29

$2.21

Net income(3)

40.7

38.6

119.1

100.0

Net income per common  unit(4)

$0.75

$0.82

$2.33

$2.12

Weighted average common units outstanding (millions)

53.5

46.2

50.2

46.2

Common units outstanding at end of period (millions)

53.5

46.2

53.5

46.2

(1) Partnership cash flows is a non-GAAP financial measure. Refer to the October 26, 2011 News Release entitled "TC PipeLines, LP Reports Third Quarter 2011 Results."
(2)The Partnership's 2011 third quarter cash distribution will be paid on November 14, 2011 to unitholders of record as of the close of business on October 31, 2011.
(3)Includes equity earnings from GTN and Bison from May 3, 2011, date of acquisition, to September 30, 2011.
(4)Net income per common unit is computed by dividing net income, after deduction of the General Partner's allocation, by the weighted average number of common units outstanding. The General Partner's allocation is computed based upon the General Partner's effective two percent interest plus an amount equal to incentive distributions.