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

 

Three months ended
March 31

 

 

 

2018

2017

Net income attributable to controlling interests

 

 

96

77(a)

Net income per common unit - basic and diluted(b)

 

 

 $1.32

$1.05(c)

         
Cash distributions paid

 

 

(76)

(68)

Class B distributions paid

 

 

(15)

(22)

Cash distributions declared per common unit

 

 

$0.65

$0.94

         
Earnings before interest, taxes, depreciation and amortization (EBITDA)(d)

 

 

150

125(a)

Distributable cash flow(d)

 

 

112

92(a)

 

 

 

   
Weighted average common units outstanding - basic and diluted (millions)(e)

 

 

71.2

68.3

Common units outstanding, end of period (millions)(e)

 

 

71.3

68.6


(a) Recast information to consolidate PNGTS as a result of the additional 11.81 percent in PNGTS that was acquired from TransCanada Corporation (TransCanada) on June 1, 2017, increasing the Partnership's ownership in PNGTS to 61.71 percent.  Prior to this transaction, the Partnership owned a 49.9 percent interest in PNGTS that was acquired from TransCanada on January 1, 2016.  For more information, refer to our Quarterly Report on Form 10-Q for the period ended March 31, 2018, as filed with the Securities Exchange Commission (SEC).
 
(b) Net income per common unit is computed by dividing net income attributable to controlling interests, after deduction of net income attributed to PNGTS' former parent, amounts attributable to the General Partner and Class B units, by the weighted average number of common units outstanding.  Refer to the Financial Summary-Consolidated Statements of Income section of the May 2, 2018, News Release entitled 'TC PipeLines, LP Announces 2018 First Quarter Financial Results and Cash Distributions'.
 
(c) Net income per common unit prior to recast.

(d) Distributable cash flow and EBITDA are non-GAAP financial measures.  For further detail, refer to the description of these non-GAAP financial measures in the section entitled 'Non-GAAP Financial Measures' and the Supplemental Schedule in the May 2, 2018, News Release entitled 'TC PipeLines, LP Announces 2018 First Quarter Financial Results and Cash Distributions'.
 
(e) Under the ATM program, the Partnership issued 732,973 units during the three months ended March 31, 2018.