Basis of Accounting Presentation | Basis of Accounting Presentation CPG OpCo LP (the "Partnership") was formed in Delaware on September 26, 2014, as a subsidiary of NiSource. The general partner of the Partnership, OpCo GP, is 100.0% owned by its sole member CPPL. At or prior to the closing of CPPL's IPO the following transactions occurred: ā¢ CEG contributed $1,217.3 million of capital to certain subsidiaries of the Predecessor to repay intercompany debt owed to NiSource Finance. CEG entered into new intercompany debt agreements with NiSource Finance for $1,217.3 million ; ā¢ CEG and Columbia Hardy contributed substantially all of the subsidiaries in the Predecessor to the Partnership; ā¢ CEG assumed responsibility for all historical current and deferred income taxes other than Tennessee state income taxes that continue to be borne by the Partnership post-IPO, as well as associated regulatory assets and liabilities; ā¢ CEG contributed to CPPL a 7.3% limited partner interest in the Partnership in exchange for 46,811,398 subordinated units in CPPL and all of CPPL's incentive distribution rights; ā¢ CPPL purchased from the Partnership an additional 8.4% limited partner interest in exchange for $1,170.0 million from the net proceeds of CPPL's IPO, resulting in CPPL owning a 15.7% limited partner interest in the Partnership; ā¢ The Partnership distributed $ 500.0 million to CEG as a reimbursement of preformation capital expenditures with respect to the assets contributed to the Partnership; ā¢ Following CPPL's IPO, CPPL owns a 15.7% limited partner interest in the Partnership, Columbia Hardy owns a 0.77% limited partner interest and CEG owns the remaining 83.53% limited partner interest. On February 11, 2015, concurrent with the completion of CPPL's IPO, NiSource contributed its subsidiary, CEG, to CPG. Following this contribution, CPG owns and operates, through its subsidiaries, approximately 15,000 miles of strategically located interstate gas pipelines extending from New York to the Gulf of Mexico and one of the nationās largest underground natural gas storage systems, with approximately 300 MMDth of working gas capacity, as well as related gathering and processing assets. CEG owns and operates, through its subsidiaries, substantially all of the natural gas transmission and storage assets of CPG. Prior to July 1, 2015, CPG was a wholly owned subsidiary of NiSource. On July 1, 2015, all the shares of CPG were distributed by NiSource to holders of NiSource common stock completing CPG's separation from NiSource (the "Separation"). As a result of the Separation, CPG became an independent publicly traded company. CPG OpCo LP Predecessor (the āPredecessorā) is comprised of NiSourceās Columbia Pipeline Group Operations reportable segment. The Partnership entered into an omnibus agreement with CEG and its affiliates (together with a services agreement with CPGSC) at the closing of CPPL's IPO that addresses (1) centralized corporate, general and administrative services to be provided by CEG for the Partnership and the reimbursement by the Partnership for the Partnership's portion of these services, (2) CPPL's right of first offer for CEG's 84.3% interest in the Partnership, (3) the indemnification of the Partnership for certain potential environmental and toxic tort claims losses and expenses associated with the operation of the assets and occurring before the closing date of the IPO and (4) the Partnership's requirement to guarantee future indebtedness that CPG incurs. The Partnership is engaged in regulated interstate gas transportation and storage services for LDCs, marketers, producers and industrial and commercial customers located in northeastern, mid-Atlantic, midwestern and southern states and the District of Columbia along with unregulated businesses that include midstream services, including gathering, treating, conditioning, processing, compression and liquids handling, and development of mineral rights positions. The regulated services are performed under tariffs at rates subject to FERC approval. For periods subsequent to the closing of CPPL's IPO, the financial statements included in this current report are the financial statements and accounting records of the Partnership. For periods prior to the closing of CPPL's IPO, the financial statements included in this quarterly report are the financial statements and accounting records of the Predecessor. The consolidated and combined financial statements were prepared as follows: ā¢ The Condensed Consolidated Balance Sheets (unaudited) consist of the consolidated balance sheet of the Partnership as of June 30, 2016 and December 31, 2015 . ā¢ The Condensed Statements of Consolidated and Combined Operations (unaudited) consist of consolidated results of the Partnership for the three months ended June 30, 2016 and 2015. ā¢ The Condensed Statements of Consolidated and Combined Operations (unaudited) consist of consolidated results of the Partnership for the six months ended June 30, 2016 and for the period from February 11, 2015 through June 30, 2015 and the combined results of the Predecessor for the period from January 1, 2015 through February 10, 2015. ā¢ The Condensed Statements of Consolidated and Combined Comprehensive Income (unaudited) consist of consolidated results of the Partnership for the three months ended June 30, 2016 and 2015. ā¢ The Condensed Statements of Consolidated and Combined Comprehensive Income (unaudited) consist of consolidated results of the Partnership for six months ended June 30, 2016 and for the period from February 11, 2015 through June 30, 2015 and the combined results of the Predecessor for the period from January 1, 2015 through February 10, 2015. ā¢ The Condensed Statements of Consolidated and Combined Cash Flows (unaudited) consist of consolidated results of the Partnership for the six months ended June 30, 2016 and for the period from February 11, 2015 through June 30, 2015 and the combined results of the Predecessor for the period from January 1, 2015 through February 10, 2015. ā¢ The Condensed Statements of Consolidated and Combined Equity (unaudited) consist of consolidated activity of the Partnership for the six months ended June 30, 2016 and for the period from February 11, 2015 through June 30, 2015 and the combined results of the Predecessor for the period from January 1, 2015 through February 10, 2015. Merger. On March 17, 2016, CPG entered into an Agreement and Plan of Merger (the āMerger Agreementā), among CPG, TransCanada PipeLines Limited, a Canadian corporation (āParentā), TransCanada PipeLine USA Ltd., a Nevada corporation and a wholly owned subsidiary of Parent (āUS Parentā), Taurus Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of US Parent (āMerger Subā), and, solely for purposes of Section 3.02, Section 5.02, Section 5.09 and Article VIII of the Merger Agreement, TransCanada Corporation, a Canadian corporation and the direct parent company of Parent (āTransCanadaā). Upon the terms and subject to the conditions set forth in the Merger Agreement, effective July 1, 2016, Merger Sub was merged with and into CPG (the āMergerā) with CPG surviving the Merger as an indirect, wholly owned subsidiary of TransCanada. The Merger did not affect the ownership of the Partnership's general partner or limited partner interests, but the Partnership is indirectly managed by TransCanada after the Merger. Subsequent to June 30, 2016, approximately $ 100 million of employee related costs were accrued upon consummation of the Merger. The Partnership's Condensed Consolidated and Combined Financial Statements (unaudited) have been prepared pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Partnership believes that the disclosures made are adequate to make the information not misleading. These financial statements should be read in conjunction with the Partnershipās audited consolidated and combined financial statements for the year ended December 31, 2015 . These financial statements reflect all normal recurring adjustments that are, in the opinion of management, necessary to fairly present the Partnershipās results of operations and financial position in accordance with GAAP in the United States of America. Amounts reported in the Condensed Statements of Consolidated and Combined Operations (unaudited) are not necessarily indicative of amounts expected for the respective annual periods. All intercompany transactions and balances have been eliminated. |