Investor Center

Financial Highlights

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

Three months ended
March 31

 

 

2019

2018

 

 

Net income attributable to controlling interests

93

96

   

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

$1.28

$1.32

   
         
Cash distributions paid

(47)

(76)

 

 
Class B distributions paid

(13)

(15)

 

 

Cash distributions declared per common unit

$0.65

$0.65

 

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

142

150

   
Distributable cash flow(b)

116

112

   
 

 

 

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

71.3

71.2

 

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

71.3

71.3

 

 

 
(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 Operations section of the May 8, 2019, News Release entitled 'TC PipeLines, LP Announces 2019 First Quarter Financial Results'.

(b) 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 8, 2019, News Release entitled 'TC PipeLines, LP Announces 2019 First Quarter Financial Results'.
 
(c) During the three months ended March 31, 2019, no common units were issued under our ATM program.