Investor Center

Financial Highlights

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

Three months ended
June 30

Six months ended
June 30

 

2018

2017

2018

2017

Net income attributable to controlling interests

73

55

169

132

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

$1.00

$0.73

 $2.33

$1.78

         
Cash distributions paid

(47)

(68)

(123)

(135)

Class B distributions paid

-

-

(15)

(22)

Cash distributions declared per common unit

$0.65

$1.00

$1.30

$1.94

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

124

100

274

225

Distributable cash flow(b)

101

82

213

174

 

 

 

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

71.3

68.9

71.2

68.6

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

71.3

69.0

71.3

69.0


 
(a) 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 August 2, 2018, News Release entitled 'TC PipeLines, LP Announces 2018 Second 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 August 2, 2018, News Release entitled 'TC PipeLines, LP Announces 2018 Second Quarter Financial Results'.
 
(c) Under the ATM program, the Partnership issued 732,973 units during the six months ended June 30, 2018 (none during the three months ended June 30, 2018).