Investor Center

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

Three months ended
September 30

Nine months ended
September 30

 

2017

2016

2017 2016

Net income attributable to controlling interests

54

58(a)

186

188(a)

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

 $0.61

$0.65(c)

$2.38 $2.51(c)
         
Cash distributions paid

(74)

(65)

(210) (184)
Class B distributions paid

--

--

(22) (12)
Cash distributions declared per common unit

$1.00

$0.94

$2.94 $2.77
         
Earnings before interest, taxes, depreciation and amortization (EBITDA)(d)

103

102(a)

327 325(a)
Distributable cash flow(d)

65

69(a)

238 245(a)
 

 

 

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

69.4

66.1

68.9 65.3
Common units outstanding, end of period (millions)(e)

69.6

66.6

69.6 66.6

(a) Recast information to consolidate PNGTS for all periods presented as a result of 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 September 30, 2017, 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 and amounts attributable to the General Partner and Class B units, by the weighted average number of common units outstanding.  Refer to Financial Summary-Consolidated Statements of Income section of the November 6, 2017 News Release entitled 'TC PipeLines, LP Announces 2017 Third Quarter Financial Results'.
 
 (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 Measures' and the Supplemental Schedule in the November 6, 2017 News Release entitled 'TC PipeLines, LP Announces 2017 Third Quarter Financial Results'.
 
 (e) Under the ATM program, the Partnership issued 622,241 and 2,165,162 units during the three and nine months ended September 30, 2017, respectively.