Investor Center

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

Three months ended
December 31

Twelve months ended
December 31

 

2016

2015

2016

2015

Net income 

 60

 (137)

244 

 20

Net income (loss) attributable to controlling interests

60

(137)

244

13

 Net income (loss) per common unit - basic and diluted (a)

 $0.70

($2.24)

 $3.21

 ($0.03)

         
Cash distributions paid

(66)

(59)

(250)

(228)

Class B distributions paid

 -

 (12)

 -

Cash distributions declared per common unit

$0.94

$0.89

$3.71

$3.51

         
Adjusted earnings(b) 

60 

 62

 244

 212

Adjusted earnings per common unit - basic and diluted(b)

 $0.70

 $0.79

 $3.21

 $3.03

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

98

 (100)

398

166

Adjusted EBITDA(b) 

 98

 99

 398

365 

Distributable cash flow(b) 

67

74

313

290

 

 

 

 

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

67.0

64.2

65.7

63.9

Common units outstanding, end of period (millions)

67.4

64.3

67.4

64.3


(a) Net income per common unit is computed by dividing net income attributable to controlling interests, after deduction of 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 February 27, 2017 News Release entitled 'TC PipeLines, LP Announces 2016 Fourth Quarter and Year End Financial Results.'

 (b) Adjusted earnings, Adjusted earnings per common unit, EBITDA, Adjusted EBITDA and Distributable cash flow 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 February 27, 2017 News Release entitled 'TC PipeLines, LP Announces 2016 Fourth Quarter and Year End Financial Results.'