Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - TC PIPELINES LP | a2234576zex-32_2.htm |
| EX-32.1 - EX-32.1 - TC PIPELINES LP | a2234576zex-32_1.htm |
| EX-31.2 - EX-31.2 - TC PIPELINES LP | a2234576zex-31_2.htm |
| EX-31.1 - EX-31.1 - TC PIPELINES LP | a2234576zex-31_1.htm |
| EX-23.3 - EX-23.3 - TC PIPELINES LP | a2234576zex-23_3.htm |
| EX-23.2 - EX-23.2 - TC PIPELINES LP | a2234576zex-23_2.htm |
| EX-23.1 - EX-23.1 - TC PIPELINES LP | a2234576zex-23_1.htm |
| EX-21.1 - EX-21.1 - TC PIPELINES LP | a2234576zex-21_1.htm |
| 10-K - 10-K - TC PIPELINES LP | a2234576z10-k.htm |
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| December 31 (millions of dollars) | 2017 | 2016(a) | 2015(a) | 2014(a) | 2013(a)(b) | ||||||||
|
|
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| Earnings | |||||||||||||
| Net income before adjustment for income from equity investees | 139 | 166 | 160 | 153 | 154 | ||||||||
| Fixed charges | 84 | 73 | 68 | 62 | 57 | ||||||||
| Distributed income (loss) of equity investees(c) | 124 | 97 | (102 | ) | 88 | 67 | |||||||
| Non-controlling interests of subsidiaries that have not incurred fixed charges | – | – | – | (10 | ) | (14 | ) | ||||||
|
|
|||||||||||||
| Total Earnings | 347 | 336 | 126 | 293 | 264 | ||||||||
Fixed Charges |
|||||||||||||
| Interest expensed and capitalized | 83 | 69 | 64 | 56 | 50 | ||||||||
| Amortization of other assets | 1 | 4 | 4 | 6 | 7 | ||||||||
|
|
|||||||||||||
| Total Fixed Charges | 84 | 73 | 68 | 62 | 57 | ||||||||
Ratio of Earnings/Fixed Charges |
4.13X |
4.60X |
1.85x |
4.73x |
4.63x |
||||||||
- (a)
- Recast
information to consolidate PNGTS for all periods presented as a result of an additional 11.81 percent in PNGTS that was acquired from a
subsidiary of TransCanada on June 1, 2017. Prior to this transaction, the Partnership owned a 49.9 percent interest in PNGTS that was acquired from TransCanada on January 1, 2016.
Please read Note 2 – Significant Accounting Policies – Basis of Presentation section of the Notes to the Consolidated
Financial Statements included in Part IV,Item 15. "Exhibits and Financial Statement Schedules".
- (b)
- Recast
information to consolidate GTN and Bison for all periods presented as a result of additional 45 percent membership interests in each of GTN
and Bison that were acquired from subsidiaries of TransCanada in 2013 resulting in a 70 percent ownership in each. Please read Note 2, Significant Accounting Policies- Basis of
Presentation section of the Notes to the Consolidated Financial Statements included in Part IV,Item 15. "Exhibits and Financial Statement Schedules".
- (c)
- Distributed income of equity investees for 2015 includes $199 million impairment charge on our Investment in Great Lakes. Please read Note 5-Equity Investments, Notes to the Consolidated Financial Statements included in Part IV, Item 15. "Exhibits and Financial Statement Schedules".
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES