TC Pipelines (TCP) 10-Q 29 Apr 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 29, 2014
Document and Entity Information	'	'
Entity Registrant Name	'TC PIPELINES LP	'
Entity Central Index Key	'0001075607	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	62,327,766
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONSOLIDATED_STATEMENT_OF_INCO

CONSOLIDATED STATEMENT OF INCOME (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONSOLIDATED STATEMENT OF INCOME	'	'
Transmission revenues	$87	$86	[1]
Equity earnings from unconsolidated affiliates (Note 3)	33	18	[1]
Operation and maintenance expenses	-12	-13	[1]
Property taxes	-6	-6	[1]
General and administrative	-2	-2	[1]
Depreciation	-21	-21	[1]
Financial charges and other	-12	-9	[1]
Net income	67	53	[1]
Net income attributable to non-controlling interests	10	10	[1]
Net income attributable to controlling interests	57	43	[1]
Net income attributable to controlling interests allocation (Note 5)	'	'
Common units	56	28	[1]
General Partner	1	1	[1]
Net income attributable to controlling interests	$57	$29	[1]
Net income per common unit (Note 5) - basic (in dollars per unit)	$0.90	$0.52	[1]
Net income per common unit (Note 5) - diluted (in dollars per unit)	$0.90	$0.52	[1]
Weighted average common units outstanding (millions) - basic (in units)	62.3	53.5	[1]
Weighted average common units outstanding (millions) - diluted (in units)	62.3	53.5	[1]
Common units outstanding, end of period (millions) (in units)	62.3	53.5	[1]
[1]	(a) Recast as discussed in Note 2.

CONSOLIDATED_STATEMENT_OF_COMP

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	'	'
Net income	$67	$53	[1]
Total comprehensive income	67	53	[1]
Comprehensive income attributable to non-controlling interests	10	10	[1]
Comprehensive income attributable to controlling interests	$57	$43	[1]
[1]	(a) Recast as discussed in Note 2.

CONSOLIDATED_BALANCE_SHEET

CONSOLIDATED BALANCE SHEET (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Current Assets	'	'
Cash and cash equivalents	$41	$25
Accounts receivable and other (Note 10)	34	37
Inventories	7	7
Total current assets	82	69
Investments in unconsolidated affiliates (Note 3)	1,206	1,195
Plant, property and equipment (Net of $695 accumulated depreciation; 2013 - $674)	2,021	2,042
Goodwill	130	130
Other assets	7	7
Total assets	3,446	3,443
Current Liabilities	'	'
Accounts payable and accrued liabilities	21	19
Accounts payable to affiliates (Note 8)	30	29
Accrued interest	12	4
Current portion of long-term debt (Note 4)	3	3
Total current liabilities	66	55
Long-term debt (Note 4)	1,565	1,575
Other liabilities	24	24
Total liabilities	1,655	1,654
Partners' Equity	'	'
Common units	1,327	1,322
General partner	28	28
Accumulated other comprehensive loss	-1	-1
Controlling interests	1,354	1,349
Non-controlling interests	437	440
Total partners' equity	1,791	1,789
Total liabilities and partners' equity	$3,446	$3,443

CONSOLIDATED_BALANCE_SHEET_Par

CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
CONSOLIDATED BALANCE SHEET	'	'
Accumulated depreciation	$695	$674

CONSOLIDATED_STATEMENT_OF_CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash Generated From Operations	'	'
Net income	$67	$53	[1]
Depreciation	21	21	[1]
Change in long-term liabilities	'	1	[1]
Change in operating working capital (Note 7)	16	8	[1]
Total cash generated from operations	97	83	[1]
Investing Activities	'	'
Capital expenditures	-2	'
Change in affiliate demand loan receivable	'	-17	[1]
Total investing activities	-6	-12	[1]
Financing Activities	'	'
Distributions paid (Note 6)	-52	-43	[1]
Distributions paid to non-controlling interests	-13	-11	[1]
Change in affiliate demand loan payable	'	2	[1]
Long-term debt issued	'	2	[1]
Long-term debt repaid	-10	-5	[1]
Distributions paid to former parent of GTN and Bison	'	-17	[1]
Total financing activities	-75	-72	[1]
Increase/(decrease) in cash and cash equivalents	16	-1	[1]
Cash and cash equivalents, beginning of period	25	3	[1]
Cash and cash equivalents, end of period	41	2	[1]
Great Lakes	'	'
Cash Generated From Operations	'	'
Equity earnings in excess of cumulative distributions	-5	'
Investing Activities	'	'
Cumulative distributions in excess of equity earnings	'	4	[1]
Investment in Great Lakes	-4	-4	[1]
Northern Border	'	'
Cash Generated From Operations	'	'
Equity earnings in excess of cumulative distributions	-2	'
Investing Activities	'	'
Cumulative distributions in excess of equity earnings	'	$5	[1]
[1]	(a) Recast as discussed in Note 2.

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' EQUITY (USD $)	Total	Controlling interests	Non-controlling interests	Accumulated Other Comprehensive Loss		Common Units	General Partner
In Millions, unless otherwise specified
Balance at beginning of period at Dec. 31, 2013	$1,789	'	$440	($1)	[1]	$1,322	$28
Partners' Equity (in units) at Dec. 31, 2013	'	'	'	'		62.3	'
Increase (Decrease) in Partners' Equity	'	'	'	'		'	'
Net income	67	'	10	'		56	1
Distributions paid	'	'	-13	'		-51	-1
Balance at end of period at Mar. 31, 2014	$1,791	$1,354	$437	($1)	[1]	$1,327	$28
Partners' Equity (in units) at Mar. 31, 2014	62.3	'	'	'		62.3	'
[1]	(a) Losses related to cash flow hedges reported in Accumulated Other Comprehensive Loss and expected to be reclassified to Net Income in the next 12 months are estimated to be $1 million. These estimates assume constant interest rates over time; however, the amounts reclassified will vary based on actual value of interest rates at the date of settlement.

CONSOLIDATED_STATEMENT_OF_CHAN1

CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' EQUITY (Parenthetical) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Losses related to cash flow hedges reported in Accumulated Other Comprehensive Loss and expected to be reclassified to net income	$1

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2014
ORGANIZATION	'
ORGANIZATION	'
	NOTE 1        ORGANIZATION
	TC PipeLines, LP and its subsidiaries are collectively referred to herein as the Partnership. The Partnership was formed by TransCanada PipeLines Limited, a wholly-owned subsidiary of TransCanada Corporation (TransCanada Corporation together with its subsidiaries collectively referred to herein as TransCanada), to acquire, own and participate in the management of energy infrastructure assets in North America.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES	'
SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2        SIGNIFICANT ACCOUNTING POLICIES
	The accompanying financial statements and related notes have been prepared in accordance with United States generally accepted accounting principles (GAAP) and amounts are stated in U.S. dollars. The results of operations for the three months ended March 31, 2014 and 2013 are not necessarily indicative of the results that may be expected for the full fiscal year. The accompanying financial statements should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013. That report contains a more comprehensive summary of the Partnership’s major accounting policies. In the opinion of management, the accompanying financial statements contain all of the appropriate adjustments, all of which are normally recurring adjustments unless otherwise noted, considered necessary to present fairly the financial position of the Partnership, the results of operation and cash flows for the respective periods. Our significant accounting policies are consistent with those disclosed in Note 2 of the financial statements in our Annual Report on Form 10-K for the year ended December 31, 2013. Certain items from that Note are repeated or updated below as necessary to assist in understanding the accompanying financial statements.
	(a) Basis of Presentation
	The Partnership consolidates its investments in GTN, Bison, North Baja and Tuscarora, over which it is able to exercise control. To the extent there are interests owned by other parties, these interests are included in non-controlling interests. The Partnership uses the equity method of accounting for its investments in Northern Border and Great Lakes, over which it is able to exercise significant influence.
	On July 1, 2013, the Partnership acquired an additional 45 percent membership interest in each of GTN and Bison (the 2013 Acquisition) from subsidiaries of TransCanada which resulted in a 70 percent ownership in each of GTN and Bison. The 2013 Acquisition was accounted for as a transaction between entities under common control, similar to a pooling of interests, whereby the assets and liabilities of GTN and Bison were recorded at TransCanada’s carrying value and the Partnership’s historical financial information was recast to consolidate GTN and Bison for all periods presented.
	(b) Use of Estimates
	The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ from these estimates.

INVESTMENTS_IN_UNCONSOLIDATED_

INVESTMENTS IN UNCONSOLIDATED AFFILIATES	3 Months Ended
	Mar. 31, 2014
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	'
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	'
	NOTE 3        INVESTMENTS IN UNCONSOLIDATED AFFILIATES
	Northern Border and Great Lakes are regulated by FERC and are operated by TransCanada. The Partnership uses the equity method of accounting for its interests in its equity investees.
		Ownership	Equity Earnings from		Investments in
			Unconsolidated Affiliates		Unconsolidated Affiliates
		Interest at	Three months
	(unaudited)	March 31,	ended March 31,		March 31,	December 31,
	(millions of dollars)	2014	2014	2013	2014	2013
	Northern Border(a)	50%	23	16	525	523
	Great Lakes	46.45%	10	2	681	672
			33	18	1,206	1,195
	(a)                Equity earnings from Northern Border is net of the 12-year amortization of a $10 million transaction fee paid to the operator of Northern Border at the time of the Partnership’s additional 20 percent interest acquisition in April 2006.
	Northern Border
	The Partnership recorded no undistributed earnings from Northern Border for the three months ended March 31, 2014 and 2013.
	The summarized financial information for Northern Border is as follows:
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	ASSETS
	Cash and cash equivalents	40	27
	Other current assets	44	34
	Plant, property and equipment, net	1,191	1,197
	Other assets	32	33
		1,307	1,291
	LIABILITIES AND PARTNERS’ EQUITY
	Current liabilities	62	51
	Deferred credits and other	20	19
	Long-term debt, including current maturities	411	411
	Partners’ equity
	Partners’ capital	816	812
	Accumulated other comprehensive loss	-2	-2
		1,307	1,291
		Three months ended
	(unaudited)	March 31,
	(millions of dollars)	2014	2013
	Transmission revenues	86	72
	Operating expenses	-18	-19
	Depreciation	-15	-15
	Financial charges and other	-6	-5
	Net income	47	33
	Great Lakes
	The Partnership made an equity contribution to Great Lakes of $4 million in the first quarter of 2014. This amount represents the Partnership’s 46.45 percent share of a $9 million cash call from Great Lakes to make a scheduled debt repayment.
	The Partnership recorded no undistributed earnings from Great Lakes for the three months ended March 31, 2014 and 2013.
	The summarized financial information for Great Lakes is as follows:
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	ASSETS
	Current assets	69	52
	Plant, property and equipment, net	764	771
		833	823
	LIABILITIES AND PARTNERS’ EQUITY
	Current liabilities	28	28
	Long-term debt, including current maturities	326	335
	Partners’ equity	479	460
		833	823
		Three months ended
	(unaudited)	March 31,
	(millions of dollars)	2014	2013
	Transmission revenues	48	35
	Operating expenses	-12	-15
	Depreciation	-7	-8
	Financial charges and other	-7	-7
	Net income	22	5

CREDIT_FACILITIES_AND_LONGTERM

CREDIT FACILITIES AND LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2014
CREDIT FACILITIES AND LONG-TERM DEBT	'
CREDIT FACILITIES AND LONG-TERM DEBT	'
	NOTE 4        CREDIT FACILITIES AND LONG-TERM DEBT
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	Senior Credit Facility due 2017	370	380
	Term Loan Facility due 2018	500	500
	4.65% Unsecured Senior Notes due 2021	349	349
	5.09% Unsecured Senior Notes due 2015	75	75
	5.29% Unsecured Senior Notes due 2020	100	100
	5.69% Unsecured Senior Notes due 2035	150	150
	3.82% Series D Senior Notes due 2017	24	24
		1,568	1,578
	Less: current portion of long-term debt	3	3
		1,565	1,575
	The Partnership’s Senior Credit Facility consists of a $500 million senior revolving credit facility with a banking syndicate, maturing November 20, 2017, under which $370 million was outstanding at March 31, 2014 (December 31, 2013 - $380 million), leaving $130 million available for future borrowing.
	The London Interbank Offered Rate (LIBOR) based interest rate on the Senior Credit Facility averaged 1.42 percent for the three months ended March 31, 2014 (2013 – 1.46 percent). The LIBOR-based interest rate was 1.41 percent at March 31, 2014 (December 31, 2013 – 1.42 percent).
	The LIBOR-based interest rate on the Term Loan Facility averaged 1.42 percent for the three months ended March 31, 2014. After hedging activity, the interest rate incurred on the Term Loan Facility averaged 1.83 percent for three months ended March 31, 2014. Prior to hedging activities, the LIBOR-based interest rate was 1.41 percent at March 31, 2014 (December 31, 2013 – 1.42 percent).
	GTN’s Senior Notes provisions contain a covenant that limits total debt to no greater than 70 percent of total capitalization.
	Series D Senior Notes are secured by Tuscarora’s transportation contracts, supporting agreements and substantially all of Tuscarora’s property. The note purchase agreements contain certain provisions that include, among other items, limitations on additional indebtedness and distributions to partners.
	At March 31, 2014, the Partnership was in compliance with its financial covenants, in addition to the other covenants which include restrictions on entering into mergers, consolidations and sales of assets, granting liens, material amendments to the Second Amended and Restated Agreement of Limited Partnership (Partnership Agreement), incurring additional debt and distributions to unitholders.
	The principal repayments required on the long-term debt are as follows:
	(unaudited)
	(millions of dollars)
	2014	3
	2015	79
	2016	4
	2017	383
	2018	500
	Thereafter	599
		1,568

NET_INCOME_PER_COMMON_UNIT

NET INCOME PER COMMON UNIT	3 Months Ended
	Mar. 31, 2014
NET INCOME PER COMMON UNIT	'
NET INCOME PER COMMON UNIT	'
	NOTE 5        NET INCOME PER COMMON UNIT
	Net income per common unit is computed by dividing net income attributable to controlling interests, after deduction of the General Partner’s allocation and net income attributed to GTN’s and Bison’s former parent, by the weighted average number of common units outstanding. The General Partner’s allocation is equal to an amount based upon the General Partner’s effective two percent general partner interest, plus an amount equal to incentive distributions. Incentive distributions are paid to the General Partner if quarterly cash distributions on the common units exceed levels specified in the Partnership Agreement.
	Net income per common unit was determined as follows:
		Three months ended
	(unaudited)	March 31,
	(millions of dollars, except per common unit amounts)	2014	2013
	Net income(a)	67	53
	Net income attributed to GTN’s and Bison’s former parent(a)	-	-14
	Net income attributable to non-controlling interests(a)	-10	-10
	Net income allocated to partners(b)	57	29
	Net income allocated to General Partner	1	1
	Net income allocable to common units	56	28
	Weighted average common units outstanding (millions) – basic and diluted	62.3	53.5
	Net income per common unit – basic and diluted	$0.90	$0.52
	(a)       Recast as discussed in Note 2.
	(b)       Net income allocated to partners excludes net income attributed to GTN’s and Bison’s former parent as it was allocated to TransCanada and was not allocable to either the general partner or common units.

CASH_DISTRIBUTIONS

CASH DISTRIBUTIONS	3 Months Ended
	Mar. 31, 2014
CASH DISTRIBUTIONS	'
CASH DISTRIBUTIONS	'
	NOTE 6        CASH DISTRIBUTIONS
	For the three months ended March 31, 2014, the Partnership distributed $0.81 per common unit (2013 – $0.78 per common unit) for a total of $52 million (2013 - $43 million). The distributions paid for the three months ended March 31, 2014 and 2013 included no incentive distributions to the General Partner.

CHANGE_IN_OPERATING_WORKING_CA

CHANGE IN OPERATING WORKING CAPITAL	3 Months Ended
	Mar. 31, 2014
CHANGE IN OPERATING WORKING CAPITAL	'
CHANGE IN OPERATING WORKING CAPITAL	'
	NOTE 7        CHANGE IN OPERATING WORKING CAPITAL
	(unaudited)	Three months ended March 31,
	(millions of dollars)	2014	2013(a)
	Change in accounts receivable and other	3	5
	Change in accounts payable and accrued liabilities	4	-4
	Change in accounts payable to affiliates	1	-1
	Change in accrued interest	8	8
	Change in operating working capital	16	8
	(a)       Recast as discussed in Note 2.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2014
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	NOTE 8        RELATED PARTY TRANSACTIONS
	The Partnership does not have any employees. The management and operating functions are provided by the General Partner. The General Partner does not receive a management fee in connection with its management of the Partnership. The Partnership reimburses the General Partner for all costs of services provided, including the costs of employee, officer and director compensation and benefits, and all other expenses necessary or appropriate to the conduct of the business of, and allocable to, the Partnership. Such costs include (i) overhead costs (such as office space and equipment) and (ii) out-of-pocket expenses related to the provision of such services. The Partnership Agreement provides that the General Partner will determine the costs that are allocable to the Partnership in any reasonable manner determined by the General Partner in its sole discretion. Total costs charged to the Partnership by the General Partner were $1 million for the three months ended March 31, 2014 (2013 – $1 million).
	As operator, TransCanada’s subsidiaries provide capital and operating services to our pipeline systems. TransCanada’s subsidiaries incur costs on behalf of our pipeline systems, including, but not limited to, employee salary and benefit costs, and property and liability insurance costs.
	Capital and operating costs charged to our pipeline systems for the three months ended March 31, 2014 and 2013 by TransCanada’s subsidiaries and amounts payable to TransCanada’s subsidiaries at March 31, 2014 and December 31, 2013 are summarized in the following tables:
		Three months ended
	(unaudited)	March 31,
	(millions of dollars)	2014	2013
	Capital and operating costs charged by TransCanada’s subsidiaries to:
	GTN (a)	6	7
	Northern Border (a)	7	7
	Bison (a)	1	1
	Great Lakes (a)	7	8
	North Baja	1	1
	Tuscarora	1	1
	Impact on the Partnership’s net income attributable to controlling interests:
	GTN (b)	4	5
	Northern Border	4	3
	Bison (b)	1	1
	Great Lakes	3	4
	North Baja	1	1
	Tuscarora	1	1
	(a)       Represents 100 percent of the costs.
	(b)       Recast as discussed in Note 2.
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	Amount payable to TransCanada’s subsidiaries for costs charged in the period by:
	GTN (a)	2	3
	Northern Border (a)	2	3
	Bison (a)	1	-
	Great Lakes (a)	3	3
	North Baja	1	1
	Tuscarora	-	-
	(a)       Represents 100 percent of the costs.
	Great Lakes’ earns transportation revenues from TransCanada and its affiliates under contracts, some of which are provided at discounted rates and some at maximum recourse rates. Great Lakes earned $22 million of transportation revenues under these contracts for the three months ended March 31, 2014 (2013 - $21 million). These amounts represent 47 percent of total revenues earned by Great Lakes for the three months ended March 31, 2014 (2013 – 59 percent).
	Revenue from TransCanada and its affiliates of $11 million is included in the Partnership’s equity earnings from Great Lakes for the three months ended March 31, 2014 (2013 - $10 million). At March 31, 2014, $11 million was included in Great Lakes’ receivables in regards to the transportation contracts with TransCanada and its affiliates (December 31, 2013 - $11 million).
	In 2013, the Partnership accrued $25 million of additional consideration in accordance with the 2013 Acquisition with respect to Carty Lateral. This amount was payable to a subsidiary of TransCanada and was included in accounts payable to affiliates as of March 31, 2014 and December 31, 2013. On April 11, 2014, the Partnership made a $25 million payment with respect to the Carty Lateral consideration. It was financed by cash on hand and a draw on the Senior Credit Facility.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2014
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	NOTE 9        FAIR VALUE MEASUREMENTS
	(a) Fair Value Hierarchy
	Under Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, fair value measurements are characterized in one of three levels based upon the input used to arrive at the measurement. The three levels of the fair value hierarchy are as follows:
	·      Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date.
	·      Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
	·      Level 3 inputs are unobservable inputs for the asset or liability.
	When appropriate, valuations are adjusted for various factors including credit considerations. Such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used.
	(b) Fair Value of Financial Instruments
	The carrying value of cash and cash equivalents, accounts receivable and other, accounts payable and accrued liabilities, accounts payable to affiliates and accrued interest approximate their fair values because of the short maturity or duration of these instruments, or because the instruments bear a variable rate of interest or a rate that approximates current rates. The fair value of the Partnership’s long-term debt is estimated by discounting the future cash flows of each instrument at estimated current borrowing rates. The fair value of interest rate derivatives is calculated using the income approach which uses period-end market rates and applies a discounted cash flow valuation model.
	The estimated fair value of the Partnership’s long-term debt as at March 31, 2014 and December 31, 2013 are as follows:
	(unaudited)	March 31, 2014		December 31, 2013
	(millions of dollars)	Carrying Value	Fair Value	Carrying Value	Fair Value
	Senior Credit Facility due 2017	370	370	380	380
	Term Loan Facility due 2018	500	500	500	500
	4.65% Senior Notes due 2021	349	361	349	353
	5.09% Unsecured Senior Notes due 2015	75	79	75	79
	5.29% Unsecured Senior Notes due 2020	100	115	100	106
	5.69% Unsecured Senior Notes due 2035	150	167	150	154
	3.82% Series D Senior Notes due 2017	24	25	24	25
		1,568	1,617	1,578	1,597
	Long-term debt is recorded at amortized cost and classified in Level II of the fair value hierarchy for fair value disclosure purposes. Interest rate derivative assets and liabilities are classified in Level II for all periods presented where the fair value is determined by using valuation techniques that refer to observable market data or estimated market prices.
	Market risk is the risk that changes in market interest rates may result in fluctuations in the fair values or cash flows of financial instruments. The Partnership’s floating rate debt is subject to LIBOR benchmark interest rate risk. The Partnership uses interest rate derivatives to manage its exposure to interest rate risk. We regularly assess the impact of interest rate fluctuations on future cash flows and evaluate hedging opportunities to mitigate our interest rate risk.
	The interest rate swaps are structured such that the cash flows of the derivative instruments match those of the variable rate of interest on the Term Loan Facility. The Partnership hedged interest payments on $150 million of variable-rate Term Loan Facility with interest rate swaps effective September 3, 2013 and maturing July 1, 2018, at a weighted average fixed interest rate of 2.79 percent. At March 31, 2014 and December 31, 2013, the fair value of the interest rate swaps accounted for as cash flow hedges was less than $1 million (both on a gross and net basis). The Partnership did not record any amounts in net income related to ineffectiveness for interest rate hedges for the three months ended March 31, 2014 (2013 – nil). The change in fair value of interest rate derivative instruments recognized in other comprehensive income was less than $1 million for the three months ended March 31, 2014 (2013 – nil). For the three months ended March 31, 2014, the net realized loss related to the interest rate swaps was $1 million and was included in financial charges and other (2013 – nil).
	The Partnership has no master netting agreements; however, contracts contain provisions with rights of offset. The Partnership has elected to present the fair value of derivative instruments with the right to offset on a gross basis in the balance sheet. Had the Partnership elected to present these instruments on a net basis, there would be no effect on the consolidated balance sheet as of March 31, 2014 and December 31, 2013.

ACCOUNTS_RECEIVABLE_AND_OTHER

ACCOUNTS RECEIVABLE AND OTHER	3 Months Ended
	Mar. 31, 2014
ACCOUNTS RECEIVABLE AND OTHER	'
ACCOUNTS RECEIVABLE AND OTHER	'
	NOTE 10      ACCOUNTS RECEIVABLE AND OTHER
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	Trade accounts receivable, net of allowance of nil	33	33
	Other	1	4
		34	37

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2014
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	NOTE 11      SUBSEQUENT EVENTS
	On April 25, 2014, the board of directors of our General Partner declared the Partnership’s first quarter 2014 cash distribution in the amount of $0.81 per common unit payable on May 15, 2014 to unitholders of record as of May 5, 2014.
	GTN declared its first quarter 2014 distribution of $36 million on April 7, 2014, of which the Partnership will receive its 70 percent share or $25 million on May 1, 2014.
	Northern Border declared its first quarter 2014 distribution of $52 million on April 16, 2014, of which the Partnership will receive its 50 percent share or $26 million on May 1, 2014.
	Bison declared its first quarter 2014 distribution of $16 million on April 7, 2014, of which the Partnership will receive its 70 percent share or $11 million on May 1, 2014.
	Great Lakes declared its first quarter 2014 distribution of $29 million on April 7, 2014, of which the Partnership will receive its 46.45 percent share or $13 million on May 1, 2014.
	On April 11, 2014, the Partnership made a $25 million payment to a subsidiary of TransCanada in accordance with the 2013 Acquisition with respect to the Carty Lateral. It was financed by cash on hand and a draw on the Senior Credit Facility (refer to note 8).

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES	'
Basis of Presentation	'
	(a) Basis of Presentation
	The Partnership consolidates its investments in GTN, Bison, North Baja and Tuscarora, over which it is able to exercise control. To the extent there are interests owned by other parties, these interests are included in non-controlling interests. The Partnership uses the equity method of accounting for its investments in Northern Border and Great Lakes, over which it is able to exercise significant influence.
	On July 1, 2013, the Partnership acquired an additional 45 percent membership interest in each of GTN and Bison (the 2013 Acquisition) from subsidiaries of TransCanada which resulted in a 70 percent ownership in each of GTN and Bison. The 2013 Acquisition was accounted for as a transaction between entities under common control, similar to a pooling of interests, whereby the assets and liabilities of GTN and Bison were recorded at TransCanada’s carrying value and the Partnership’s historical financial information was recast to consolidate GTN and Bison for all periods presented.
Use of Estimates	'
	(b) Use of Estimates
	The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although management believes these estimates are reasonable, actual results could differ from these estimates.

INVESTMENTS_IN_UNCONSOLIDATED_1

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Tables)	3 Months Ended
	Mar. 31, 2014
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	'
Schedule of equity method investment in unconsolidated affiliates	'
		Ownership	Equity Earnings from		Investments in
			Unconsolidated Affiliates		Unconsolidated Affiliates
		Interest at	Three months
	(unaudited)	March 31,	ended March 31,		March 31,	December 31,
	(millions of dollars)	2014	2014	2013	2014	2013
	Northern Border(a)	50%	23	16	525	523
	Great Lakes	46.45%	10	2	681	672
			33	18	1,206	1,195
	(a)                Equity earnings from Northern Border is net of the 12-year amortization of a $10 million transaction fee paid to the operator of Northern Border at the time of the Partnership’s additional 20 percent interest acquisition in April 2006.
Northern Border	'
Investments in unconsolidated affiliates	'
Summarized financial information for equity method investment	'
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	ASSETS
	Cash and cash equivalents	40	27
	Other current assets	44	34
	Plant, property and equipment, net	1,191	1,197
	Other assets	32	33
		1,307	1,291
	LIABILITIES AND PARTNERS’ EQUITY
	Current liabilities	62	51
	Deferred credits and other	20	19
	Long-term debt, including current maturities	411	411
	Partners’ equity
	Partners’ capital	816	812
	Accumulated other comprehensive loss	-2	-2
		1,307	1,291
		Three months ended
	(unaudited)	March 31,
	(millions of dollars)	2014	2013
	Transmission revenues	86	72
	Operating expenses	-18	-19
	Depreciation	-15	-15
	Financial charges and other	-6	-5
	Net income	47	33
Great Lakes	'
Investments in unconsolidated affiliates	'
Summarized financial information for equity method investment	'
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	ASSETS
	Current assets	69	52
	Plant, property and equipment, net	764	771
		833	823
	LIABILITIES AND PARTNERS’ EQUITY
	Current liabilities	28	28
	Long-term debt, including current maturities	326	335
	Partners’ equity	479	460
		833	823
		Three months ended
	(unaudited)	March 31,
	(millions of dollars)	2014	2013
	Transmission revenues	48	35
	Operating expenses	-12	-15
	Depreciation	-7	-8
	Financial charges and other	-7	-7
	Net income	22	5

CREDIT_FACILITIES_AND_LONGTERM1

CREDIT FACILITIES AND LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2014
CREDIT FACILITIES AND LONG-TERM DEBT	'
Schedule of components of debt	'
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	Senior Credit Facility due 2017	370	380
	Term Loan Facility due 2018	500	500
	4.65% Unsecured Senior Notes due 2021	349	349
	5.09% Unsecured Senior Notes due 2015	75	75
	5.29% Unsecured Senior Notes due 2020	100	100
	5.69% Unsecured Senior Notes due 2035	150	150
	3.82% Series D Senior Notes due 2017	24	24
		1,568	1,578
	Less: current portion of long-term debt	3	3
		1,565	1,575
Schedule of principal repayments required by the Partnership on the long-term debt	'
	(unaudited)
	(millions of dollars)
	2014	3
	2015	79
	2016	4
	2017	383
	2018	500
	Thereafter	599
		1,568

NET_INCOME_PER_COMMON_UNIT_Tab

NET INCOME PER COMMON UNIT (Tables)	3 Months Ended
	Mar. 31, 2014
NET INCOME PER COMMON UNIT	'
Schedule of net income per common unit	'
		Three months ended
	(unaudited)	March 31,
	(millions of dollars, except per common unit amounts)	2014	2013
	Net income(a)	67	53
	Net income attributed to GTN’s and Bison’s former parent(a)	-	-14
	Net income attributable to non-controlling interests(a)	-10	-10
	Net income allocated to partners(b)	57	29
	Net income allocated to General Partner	1	1
	Net income allocable to common units	56	28
	Weighted average common units outstanding (millions) – basic and diluted	62.3	53.5
	Net income per common unit – basic and diluted	$0.90	$0.52
	(a)       Recast as discussed in Note 2.
	(b)       Net income allocated to partners excludes net income attributed to GTN’s and Bison’s former parent as it was allocated to TransCanada and was not allocable to either the general partner or common units.

CHANGE_IN_OPERATING_WORKING_CA1

CHANGE IN OPERATING WORKING CAPITAL (Tables)	3 Months Ended
	Mar. 31, 2014
CHANGE IN OPERATING WORKING CAPITAL	'
Summary of change in operating working capital	'
	(unaudited)	Three months ended March 31,
	(millions of dollars)	2014	2013(a)
	Change in accounts receivable and other	3	5
	Change in accounts payable and accrued liabilities	4	-4
	Change in accounts payable to affiliates	1	-1
	Change in accrued interest	8	8
	Change in operating working capital	16	8
	(a)       Recast as discussed in Note 2.

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2014
RELATED PARTY TRANSACTIONS	'
Schedule of capital and operating costs charged by related party	'
		Three months ended
	(unaudited)	March 31,
	(millions of dollars)	2014	2013
	Capital and operating costs charged by TransCanada’s subsidiaries to:
	GTN (a)	6	7
	Northern Border (a)	7	7
	Bison (a)	1	1
	Great Lakes (a)	7	8
	North Baja	1	1
	Tuscarora	1	1
	Impact on the Partnership’s net income attributable to controlling interests:
	GTN (b)	4	5
	Northern Border	4	3
	Bison (b)	1	1
	Great Lakes	3	4
	North Baja	1	1
	Tuscarora	1	1
	(a)       Represents 100 percent of the costs.
	(b)       Recast as discussed in Note 2.
Schedule of amounts payable to related party for costs charged during the period	'
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	Amount payable to TransCanada’s subsidiaries for costs charged in the period by:
	GTN (a)	2	3
	Northern Border (a)	2	3
	Bison (a)	1	-
	Great Lakes (a)	3	3
	North Baja	1	1
	Tuscarora	-	-
	(a)       Represents 100 percent of the costs.

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2014
FAIR VALUE MEASUREMENTS	'
Schedule of estimated fair value of the Partnership's long-term debt	'
	(unaudited)	March 31, 2014		December 31, 2013
	(millions of dollars)	Carrying Value	Fair Value	Carrying Value	Fair Value
	Senior Credit Facility due 2017	370	370	380	380
	Term Loan Facility due 2018	500	500	500	500
	4.65% Senior Notes due 2021	349	361	349	353
	5.09% Unsecured Senior Notes due 2015	75	79	75	79
	5.29% Unsecured Senior Notes due 2020	100	115	100	106
	5.69% Unsecured Senior Notes due 2035	150	167	150	154
	3.82% Series D Senior Notes due 2017	24	25	24	25
		1,568	1,617	1,578	1,597

ACCOUNTS_RECEIVABLE_AND_OTHER_

ACCOUNTS RECEIVABLE AND OTHER (Tables)	3 Months Ended
	Mar. 31, 2014
ACCOUNTS RECEIVABLE AND OTHER	'
Schedule of accounts receivable and other	'
	(unaudited)
	(millions of dollars)	March 31, 2014	December 31, 2013
	Trade accounts receivable, net of allowance of nil	33	33
	Other	1	4
		34	37

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Details) (Former parent, TransCanada subsidiaries, Transaction between entities under common control)	0 Months Ended
	Jul. 02, 2013
GTN	'
Summary of Significant Accounting Policies	'
Interest acquired by the Partnership (as a percent)	45.00%
Ownership interest (as a percent)	70.00%
Bison	'
Summary of Significant Accounting Policies	'
Interest acquired by the Partnership (as a percent)	45.00%
Ownership interest (as a percent)	70.00%

INVESTMENTS_IN_UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details) (USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2006	Mar. 31, 2014	Mar. 31, 2013		Dec. 31, 2013
Investments in unconsolidated affiliates	'	'	'		'
Equity Earnings from Unconsolidated Affiliates	'	$33	$18	[1]	'
Investments in Unconsolidated Affiliates	'	1,206	'		1,195
Northern Border	'	'	'		'
Investments in unconsolidated affiliates	'	'	'		'
Ownership interest at the end of the period (as a percent)	'	50.00%	'		'
Equity Earnings from Unconsolidated Affiliates	'	23	16		'
Investments in Unconsolidated Affiliates	'	525	'		523
Amortization period of transaction fee	'12 years	'	'		'
Transaction fee	10	'	'		'
Additional ownership interest acquired (as a percent)	20.00%	'	'		'
Undistributed earnings	'	0	0		'
Assets	'	'	'		'
Cash and cash equivalents	'	40	'		27
Other current assets	'	44	'		34
Plant, property and equipment, net	'	1,191	'		1,197
Other assets	'	32	'		33
Assets, total	'	1,307	'		1,291
LIABILITIES AND PARTNERS' EQUITY	'	'	'		'
Current liabilities	'	62	'		51
Deferred credits and other	'	20	'		19
Long-term debt, including current maturities	'	411	'		411
Partners' equity	'	'	'		'
Partners' equity	'	816	'		812
Accumulated other comprehensive loss	'	-2	'		-2
Liabilities and Equity, total	'	1,307	'		1,291
Revenues (expenses)	'	'	'		'
Transmission revenues	'	86	72		'
Operating expenses	'	-18	-19		'
Depreciation	'	-15	-15		'
Financial charges and other	'	-6	-5		'
Net income	'	47	33		'
Great Lakes	'	'	'		'
Investments in unconsolidated affiliates	'	'	'		'
Ownership interest at the end of the period (as a percent)	'	46.45%	'		'
Equity Earnings from Unconsolidated Affiliates	'	10	2		'
Investments in Unconsolidated Affiliates	'	681	'		672
Undistributed earnings	'	0	0		'
Equity contribution	'	4	4	[1]	'
Total cash call issued to fund debt repayment	'	9	'		'
Assets	'	'	'		'
Current assets	'	69	'		52
Plant, property and equipment, net	'	764	'		771
Assets, total	'	833	'		823
LIABILITIES AND PARTNERS' EQUITY	'	'	'		'
Current liabilities	'	28	'		28
Long-term debt, including current maturities	'	326	'		335
Partners' equity	'	'	'		'
Partners' equity	'	479	'		460
Liabilities and Equity, total	'	833	'		823
Revenues (expenses)	'	'	'		'
Transmission revenues	'	48	35		'
Operating expenses	'	-12	-15		'
Depreciation	'	-7	-8		'
Financial charges and other	'	-7	-7		'
Net income	'	$22	$5		'
[1]	(a) Recast as discussed in Note 2.

CREDIT_FACILITIES_AND_LONGTERM2

CREDIT FACILITIES AND LONG-TERM DEBT (Details) (USD $)	3 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Credit facilities and long-term debt	'	'	'
Total long-term debt	1,568	'	1,578
Less: current portion of long-term debt	3	'	3
Long-term debt	1,565	'	1,575
Senior Credit Facility due 2017	'	'	'
Credit facilities and long-term debt	'	'	'
Total long-term debt	370	'	380
Senior Credit Facility due 2017 | LIBOR	'	'	'
Credit facilities and long-term debt	'	'	'
Variable rate basis	'LIBOR	'LIBOR	'LIBOR
Debt average interest rate (as a percent)	1.42%	1.46%	'
Debt interest rate, at period end, prior to hedging activities (as a percent)	1.41%	'	1.42%
Senior revolving credit facility	'	'	'
Credit facilities and long-term debt	'	'	'
Maximum borrowing capacity	500	'	'
Amount outstanding under credit facility	370	'	380
Remaining borrowing capacity	130	'	'
Term Loan Facility due 2018	'	'	'
Credit facilities and long-term debt	'	'	'
Total long-term debt	500	'	500
Term Loan Facility due 2018 | LIBOR borrowings | LIBOR	'	'	'
Credit facilities and long-term debt	'	'	'
Variable rate basis	'LIBOR	'	'LIBOR
Debt average interest rate (as a percent)	1.42%	'	'
Debt average interest rate, after hedging activity (as a percent)	1.83%	'	'
Debt interest rate, at period end, prior to hedging activities (as a percent)	1.41%	'	1.42%
4.65% Unsecured Senior Notes due 2021	'	'	'
Credit facilities and long-term debt	'	'	'
Stated interest rate (as a percent)	4.65%	'	4.65%
Total long-term debt	349	'	349
5.09% Unsecured Senior Notes due 2015	'	'	'
Credit facilities and long-term debt	'	'	'
Stated interest rate (as a percent)	5.09%	'	5.09%
Total long-term debt	75	'	75
5.29% Unsecured Senior Notes due 2020	'	'	'
Credit facilities and long-term debt	'	'	'
Stated interest rate (as a percent)	5.29%	'	5.29%
Total long-term debt	100	'	100
5.69% Unsecured Senior Notes due 2035	'	'	'
Credit facilities and long-term debt	'	'	'
Stated interest rate (as a percent)	5.69%	'	5.69%
Total long-term debt	150	'	150
3.82% Series D Senior Notes due 2017	'	'	'
Credit facilities and long-term debt	'	'	'
Stated interest rate (as a percent)	3.82%	'	3.82%
Total long-term debt	24	'	24
GTN | Senior Notes | Maximum	'	'	'
Credit facilities and long-term debt	'	'	'
Percentage of debt to total capitalization	70.00%	'	'

CREDIT_FACILITIES_AND_LONGTERM3

CREDIT FACILITIES AND LONG-TERM DEBT (Details 2) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Principal repayments required by the Partnership on the long-term debt	'	'
2014	$3	'
2015	79	'
2016	4	'
2017	383	'
2018	500	'
Thereafter	599	'
Total long-term debt	$1,568	$1,578

NET_INCOME_PER_COMMON_UNIT_Det

NET INCOME PER COMMON UNIT (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Ownership interests in the Partnership	'	'
Net income	$67	$53	[1]
Net income attributed to GTN and Bison's former parent	'	-14
Net income attributable to non-controlling interests	-10	-10	[1]
Net income attributable to controlling interests	57	29	[1]
Net income allocated to General Partner	1	1	[1]
Net income allocable to common units	56	28	[1]
Weighted average common units outstanding (millions) - basic (in units)	62.3	53.5	[1]
Weighted average common units outstanding (millions) - diluted (in units)	62.3	53.5	[1]
Net income per common unit - basic (in dollars per unit)	$0.90	$0.52	[1]
Net income per common unit - diluted (in dollars per unit)	$0.90	$0.52	[1]
General Partner	'	'
Ownership interests in the Partnership	'	'
Net income	$1	'
TC PipeLines GP, Inc. | General Partner	'	'
Ownership interests in the Partnership	'	'
Additional percentage investment held by General Partner	2.00%	'
[1]	(a) Recast as discussed in Note 2.

CASH_DISTRIBUTIONS_Details

CASH DISTRIBUTIONS (Details) (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CASH DISTRIBUTIONS	'	'
Cash distributions (in dollars per unit)	$0.81	$0.78
Cash distributions	$52	$43	[1]
General Partner	'	'
Incentive distributions	'	'
Incentive distributions	$0	$0
[1]	(a) Recast as discussed in Note 2.

CHANGE_IN_OPERATING_WORKING_CA2

CHANGE IN OPERATING WORKING CAPITAL (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CHANGE IN OPERATING WORKING CAPITAL	'	'
Change in accounts receivable and other	$3	$5
Change in accounts payable and accrued liabilities	4	-4
Change in accounts payable to affiliates	1	-1
Change in accrued interest	8	8
Change in operating working capital	$16	$8	[1]
[1]	(a) Recast as discussed in Note 2.

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

3 Months Ended

0 Months Ended

In Millions, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Apr. 11, 2014

General Partner

General Partner

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

TransCanada's subsidiaries

GTN

GTN

Subsequent event

GTN

GTN

GTN

Bison

Bison

North Baja

North Baja

North Baja

Tuscarora

Tuscarora

Northern Border

Northern Border

Northern Border

Great Lakes

Great Lakes

Great Lakes

Great Lakes

Great Lakes

Former parent, TransCanada subsidiaries

Former parent, TransCanada subsidiaries

GTN

Transportation revenues

Transportation revenues

Transaction between entities under common control

Transaction between entities under common control

Former parent, TransCanada subsidiaries

Accounts payable to affiliates

Accounts payable to affiliates

Transaction between entities under common control

Capital and operating costs charged to the pipeline systems and amount payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Capital and operating costs charged by TransCanada's subsidiaries

$1

$1

$6

$7

'

$1

$1

$1

$1

'

$1

$1

$7

$7

'

$7

$8

'

'

'

'

'

'

Impact on the Partnership's net income attributable to controlling interests

'

'

4

5

'

1

1

1

1

'

1

1

4

3

'

3

4

'

'

'

'

'

'

Amounts payable to TransCanada's subsidiaries

'

'

2

'

3

1

'

1

'

1

'

'

2

'

3

3

'

3

'

'

'

'

'

Percentage of capital and operating costs charged by TransCanada's subsidiaries

'

'

100.00%

'

'

100.00%

'

'

'

'

'

'

100.00%

'

'

100.00%

'

'

'

'

'

'

'

Revenues from TransCanada and its affiliates

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

22

21

'

'

'

Percentage of revenues from TransCanada and its affiliates to total revenues

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

47.00%

59.00%

'

'

'

Revenue from TransCanada and its affiliates included in the Partnership's equity earnings

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11

10

'

'

'

'

'

'

Amount included in receivables in regards to the transportation contracts with TransCanada and its affiliates

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11

'

11

'

'

'

'

'

Accrued additional consideration

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25

25

'

Payment with respect to the Carty Lateral consideration

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$25

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
4.65% Senior Notes due 2021	'	'
Financial Instruments	'	'
Stated interest rate (as a percent)	4.65%	4.65%
5.09% Unsecured Senior Notes due 2015	'	'
Financial Instruments	'	'
Stated interest rate (as a percent)	5.09%	5.09%
5.29% Unsecured Senior Notes due 2020	'	'
Financial Instruments	'	'
Stated interest rate (as a percent)	5.29%	5.29%
5.69% Unsecured Senior Notes due 2035	'	'
Financial Instruments	'	'
Stated interest rate (as a percent)	5.69%	5.69%
3.82% Series D Senior Notes due 2017	'	'
Financial Instruments	'	'
Stated interest rate (as a percent)	3.82%	3.82%
Carrying Value	'	'
Financial Instruments	'	'
Long-term debt	1,568	1,578
Carrying Value | Senior Credit Facility due 2017	'	'
Financial Instruments	'	'
Long-term debt	370	380
Carrying Value | Term Loan Facility due 2018	'	'
Financial Instruments	'	'
Long-term debt	500	500
Carrying Value | 4.65% Senior Notes due 2021	'	'
Financial Instruments	'	'
Long-term debt	349	349
Carrying Value | 5.09% Unsecured Senior Notes due 2015	'	'
Financial Instruments	'	'
Long-term debt	75	75
Carrying Value | 5.29% Unsecured Senior Notes due 2020	'	'
Financial Instruments	'	'
Long-term debt	100	100
Carrying Value | 5.69% Unsecured Senior Notes due 2035	'	'
Financial Instruments	'	'
Long-term debt	150	150
Carrying Value | 3.82% Series D Senior Notes due 2017	'	'
Financial Instruments	'	'
Long-term debt	24	24
Fair Value | Level 2	'	'
Financial Instruments	'	'
Long-term debt	1,617	1,597
Fair Value | Level 2 | Senior Credit Facility due 2017	'	'
Financial Instruments	'	'
Long-term debt	370	380
Fair Value | Level 2 | Term Loan Facility due 2018	'	'
Financial Instruments	'	'
Long-term debt	500	500
Fair Value | Level 2 | 4.65% Senior Notes due 2021	'	'
Financial Instruments	'	'
Long-term debt	361	353
Fair Value | Level 2 | 5.09% Unsecured Senior Notes due 2015	'	'
Financial Instruments	'	'
Long-term debt	79	79
Fair Value | Level 2 | 5.29% Unsecured Senior Notes due 2020	'	'
Financial Instruments	'	'
Long-term debt	115	106
Fair Value | Level 2 | 5.69% Unsecured Senior Notes due 2035	'	'
Financial Instruments	'	'
Long-term debt	167	154
Fair Value | Level 2 | 3.82% Series D Senior Notes due 2017	'	'
Financial Instruments	'	'
Long-term debt	25	25

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
	Interest rate swaps from September 3, 2013 through July 1, 2018	Interest rate swaps	Hedges of cash flows	Hedges of cash flows	Hedges of cash flows	Hedges of cash flows	Designated as hedge	Designated as hedge
	Term Loan Facility		Interest rate swaps	Interest rate swaps	Interest rate swaps	Interest rate swaps	Interest rate swaps	Interest rate swaps
			Maximum	Maximum	Financial charges and other	Financial charges and other	Maximum	Maximum
Interest rate derivatives	'	'	'	'	'	'	'	'
Amount of variable-rate debt hedged	$150	'	'	'	'	'	'	'
Date of maturity	1-Jul-18	'	'	'	'	'	'	'
Weighted average fixed interest rate (as a percent)	2.79%	'	'	'	'	'	'	'
Fair value of derivatives, gross	'	'	'	'	'	'	1	1
Fair value of derivatives, net	'	'	'	'	'	'	1	1
Amount recorded in net income related to ineffectiveness for interest rate hedges	'	'	'	'	'	'	'	'
Change in fair value of interest rate derivative instruments recognized in other comprehensive income	'	'	1	'	'	'	'	'
Net realized loss related to the interest rate swaps	'	'	'	'	$1	'	'	'

ACCOUNTS_RECEIVABLE_AND_OTHER_1

ACCOUNTS RECEIVABLE AND OTHER (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
ACCOUNTS RECEIVABLE AND OTHER	'	'
Trade accounts receivable, net of allowance of nil	$33	$33
Other	1	4
Accounts receivable and other	$34	$37

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)

0 Months Ended

3 Months Ended

0 Months Ended

In Millions, except Per Share data, unless otherwise specified

Jul. 02, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Apr. 25, 2014

Apr. 11, 2014

Apr. 07, 2014

1-May-14

Apr. 07, 2014

1-May-14

Apr. 16, 2014

Apr. 07, 2014

1-May-14

1-May-14

GTN

Great Lakes

Northern Border

GTN

Bison

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Subsequent event

Former parent, TransCanada subsidiaries

GTN

GTN

GTN

Bison

Bison

Distribution declared

Distribution declared

Cash Distribution Paid

Cash Distribution Paid

Transaction between entities under common control

Former parent, TransCanada subsidiaries

Expected

Expected

Northern Border

Great Lakes

Northern Border

Great Lakes

Transaction between entities under common control

Expected

Expected

Subsequent events

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash distribution (in dollars per unit)

'

'

'

'

'

$0.81

'

'

'

'

'

'

'

'

'

Aggregate distribution declared and payable by investee

'

'

'

'

'

'

'

$36

'

$16

'

'

'

'

'

Partnership interest (as a percent)

70.00%

'

'

70.00%

70.00%

'

'

'

'

'

'

'

'

'

'

Distribution received by Partnership

'

'

'

'

'

'

'

'

25

'

11

'

'

'

'

Partnership distribution

'

'

'

'

'

'

'

'

'

'

'

52

29

'

'

Ownership interest (as a percent)

'

46.45%

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

Partnership's share of distributions declared and payable by investee

'

'

'

'

'

'

'

'

'

'

'

'

'

26

13

Payment with respect to the Carty Lateral consideration

'

'

'

'

'

'

$25

'

'

'

'

'

'

'

'