Investor Center

Financial Highlights

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

Three months ended
September 30

Nine months ended
September 30

 

2019

2018

2019

2018

Net income attributable to controlling interests

56

62

204 231

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

$0.76

$0.79

$2.79 $3.11
         
Cash distributions paid

(47)

(47)

(142)

(171)
Class B distributions paid

--

--

(13)

(15)

Cash distributions declared per common unit

$0.65

$0.65

$1.95

$1.95
         
Earnings before interest, taxes, depreciation and amortization (EBITDA)(b)

100

113 341 386
Distributable cash flow(b) 78 83 264 296
 

 

 

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

71.3

71.3

71.3

71.3
Common units outstanding, end of period (millions)(c)

71.3

71.3

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 Income section of the November 7, 2019, News Release entitled 'TC PipeLines, LP Announces 2019 Third 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 November 7, 2019, News Release entitled 'TC PipeLines, LP Announces 2019 Third Quarter Financial Results'.
 
(c) During the three and nine months ended September 30, 2019, no common units were issued under our ATM program.