TC PipeLines, LP (TCP) Financial Statements (2024 and earlier)

Company Profile

Business Address 700 LOUISIANA STREET, SUITE 700
HOUSTON, TX 77002-2700
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4922 - Natural Gas Transmission (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments83,00033,00033,00050,00039,00026,000
Cash and cash equivalents83,00033,00033,00050,00039,00026,000
Receivables37,00046,00041,00039,00031,00031,000
Inventory, net of allowances, customer advances and progress billings10,0008,0008,0007,0007,0007,000
Inventory10,0008,0008,0007,0007,0007,000
Other current assets6,0008,0007,0005,0004,0004,000
Other undisclosed current assets20,0002,0001,0001,000  
Total current assets:156,00097,00090,000102,00081,00068,000
Noncurrent Assets
Property, plant and equipment1,528,0001,529,0002,123,0001,881,0001,949,0001,968,000
Long-term investments and receivables1,098,0001,196,0001,213,0001,044,000965,0001,177,000
Long-term investments1,098,0001,196,0001,213,0001,044,000965,0001,177,000
Intangible assets, net (including goodwill)71,00071,000130,000130,000130,000130,000
Goodwill71,00071,000130,000130,000130,000130,000
Other noncurrent assets  6,0003,0001,0008,0006,000
Total noncurrent assets:2,697,0002,802,0003,469,0003,056,0003,052,0003,281,000
TOTAL ASSETS:2,853,0002,899,0003,559,0003,158,0003,133,0003,349,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:28,00036,00031,00027,00032,00023,000
Interest and dividends payable11,00012,00012,0009,0008,0004,000
Other undisclosed accounts payable and accrued liabilities17,00024,00019,00018,00024,00019,000
Debt123,00036,00051,00023,00014,000249,000
Due to related parties8,0006,0005,0007,0005,00015,000
Other undisclosed current liabilities11,00012,00013,0009,0008,0004,000
Total current liabilities:170,00090,000100,00066,00059,000291,000
Noncurrent Liabilities
Long-term debt and lease obligation1,880,0002,072,0002,352,0001,835,0001,896,0001,446,000
Long-term debt, excluding current maturities1,880,0002,072,0002,352,0001,835,0001,896,0001,446,000
Liabilities, other than long-term debt43,00029,00029,00028,00027,00049,000
Deferred income tax liabilities7,000
Regulatory liability      23,000
Other liabilities36,00029,00029,00028,00027,00026,000
Other undisclosed noncurrent liabilities  9,00010,000  (23,000)
Total noncurrent liabilities:1,923,0002,110,0002,391,0001,863,0001,923,0001,472,000
Total liabilities:2,093,0002,200,0002,491,0001,929,0001,982,0001,763,000
Temporary equity, carrying amount    83,000  
Equity
Equity, attributable to parent(5,000)8,0005,000 (2,000)(2,000)
Accumulated other comprehensive income (loss)(5,000)8,0005,000 (2,000)(2,000)
Other undisclosed equity765,000691,0001,063,0001,146,0001,153,0001,588,000
Total equity:760,000699,0001,068,0001,146,0001,151,0001,586,000
TOTAL LIABILITIES AND EQUITY:2,853,0002,899,0003,559,0003,158,0003,133,0003,349,000

Income Statement (P&L) ($ in thousands)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues
(Revenue, Net)
   422,000357,000344,000336,000
Gross profit:   422,000357,000344,000336,000
Operating expenses(8,000)(602,000)(75,000)(57,000)(62,000)(63,000)
Operating income (loss):(8,000)(602,000)347,000300,000282,000273,000
Nonoperating income4,0002,0002,0001,0005,0001,000
Public utilities, allowance for funds used during construction, additions      
Other nonoperating income4,0002,0002,0001,0005,0001,000
Interest and debt expense(88,000)(95,000)(83,000) (1,000)(49,000)
Income (loss) from continuing operations before equity method investments, income taxes:(92,000)(695,000)266,000301,000286,000225,000
Income from equity method investments160,000173,000124,000116,00097,00088,000
Other undisclosed income (loss) from continuing operations before income taxes229,000358,000(126,000)   
Income (loss) from continuing operations before income taxes:297,000(164,000)264,000417,000383,000313,000
Income tax expense (benefit)1,000(1,000)(1,000)   
Income (loss) from continuing operations:298,000(165,000)263,000417,000383,000313,000
Income (loss) before gain (loss) on sale of properties:298,000(165,000)263,000417,000383,000313,000
Other undisclosed net loss      (109,000)
Net income (loss):298,000(165,000)263,000417,000383,000204,000
Net loss attributable to noncontrolling interest      (32,000)
Other undisclosed net loss attributable to parent(18,000)(17,000)(11,000)   
Net income (loss) available to common stockholders, diluted:280,000(182,000)252,000417,000383,000172,000

Comprehensive Income ($ in thousands)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):298,000(165,000)263,000417,000383,000204,000
Other comprehensive loss      
Other undisclosed comprehensive income (loss) (13,000)3,0007,000(171,000)(363,000)(1,000)
Comprehensive income (loss):285,000(162,000)270,000246,00020,000203,000
Comprehensive loss, net of tax, attributable to noncontrolling interest(18,000)(17,000)(11,000) (7,000)(32,000)
Comprehensive income (loss), net of tax, attributable to parent:267,000(179,000)259,000246,00013,000171,000

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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