August 28, 2016 6:31 AM ET

Oil, Gas and Consumable Fuels

Company Overview of TransCanada PipeLines Limited

Company Overview

TransCanada PipeLines Limited operates as an energy infrastructure company in North America. The company operates in three segments: Natural Gas Pipelines, Liquids Pipelines, and Energy. The Natural Gas Pipelines segment transports natural gas to local distribution companies, power generation facilities, and other businesses in Canada, the United States, and Mexico. This segment operates 56,600 kilometers of wholly owned natural gas pipelines and 10,700 kilometers of partially owned natural gas pipelines; and regulated natural gas storage facilities with a total capacity of approximately 250 billion cubic feet (Bcf) in Michigan. The Liquids Pipelines segment owns and operates crude oil pipel...

450 – 1st Street SW

Calgary, AB T2P 5H1

Canada

Founded in 2003

Phone:

403-920-2000

Fax:

403-920-2200

Key Executives for TransCanada PipeLines Limited

Chief Executive Officer, President and Director
Age: 53
Chief Financial Officer and Executive Vice-President of Corporate Development
Age: 53
Chief Operating Officer
Age: 50
Executive Vice President and President of Natural Gas Pipe Lines
Age: 55
Executive Vice President and President of Energy
Compensation as of Fiscal Year 2016.

TransCanada PipeLines Limited Key Developments

National Energy Board Conditionally Approves TransCanada PipeLines Limited's Vaughan Mainline Expansion Project

In a Letter Decision issued, the National Energy Board (NEB) approved an application from TransCanada PipeLines Limited to construct and operate approximately 11.7 km of new natural gas pipeline in the City of Vaughan, Ontario, subject to 19 conditions. The Board's written reasons will be released on or before September 9, 2016. The NEB commenced the hearing process on February 10, 2016 when it issued Hearing Order GH-001-2016, and invited the public to apply to participate. At the same time, the NEB announced that standing was automatically granted to Aboriginal groups where their Traditional Territory is affected; municipalities where the project is; and landowners or occupants whose land is traversed by the Project. In all, the Board granted participation status to 17 Intervenors and five commenters. The process was designed to provide meaningful opportunities for participants to share their views about the project, both in writing, and orally. The NEB held a community meeting in Vaughan, Ontario on April 27, 2016, and participants presented oral statements. In June, participants then had an opportunity to conduct oral cross examination, and oral final argument. The oral hearing concluded on June 16, 2016.

TransCanada PipeLines Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

TransCanada PipeLines Limited announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's revenues were CAD 2,751 million compared with CAD 2,631 million a year ago. Income before income taxes was CAD 824 million compared with CAD 744 million a year ago. Net income was CAD 549 million compared with CAD 494 million a year ago. Net income attributable to controlling interests and to common shares was CAD 497 million compared with CAD 454 million a year ago. Net cash provided by operations was CAD 1,101 million compared with CAD 967 million a year ago. Capital expenditures were CAD 982 million compared with CAD 966 million a year ago. Comparable EBITDA was CAD 1,369 million compared with CAD 1,367 million a year ago. Comparable earnings were CAD 395 million compared with CAD 422 million a year ago. EBITDA was CAD 1,560 million compared with CAD 1,434 million a year ago. Comparable EBIT was CAD 925 million compared with CAD 927 million a year ago. For the six months, the company's revenues were CAD 5,254 million compared with CAD 5,505 million a year ago. Income before income taxes was CAD 1,250 million compared with CAD 1,422 million a year ago. Net income was CAD 905 million compared with CAD 965 million a year ago. Net income attributable to controlling interests and to common shares was CAD 773 million compared with CAD 866 million a year ago. Net cash provided by operations was CAD 2,150 million compared with CAD 1,729 million a year ago. Capital expenditures were CAD 1,818 million compared with CAD 1,772 million a year ago. Comparable EBITDA was CAD 2,871 million compared with CAD 2,898 million a year ago. Comparable earnings were CAD 913 million compared with CAD 912 million a year ago. EBITDA was CAD 2,657 million compared with CAD 2,876 million a year ago. Comparable EBIT was CAD 1,973 million compared with CAD 2,024 million a year ago.

TransCanada PipeLines Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Reports Asset Impairment Charges for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Year 2016

TransCanada PipeLines Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues of CAD 2,547 million against CAD 2,874 million a year ago. Net income attributable to common shareholders was CAD 276 million or CAD 0.55 per share compared to CAD 412 million or CAD 0.58 per share for the same period ago. Funds generated from operations were CAD 1,127 million against CAD 1,155 million a year ago. Capital spending - capital expenditures were CAD 836 million against CAD 806 million a year ago. Comparable EBITDA were CAD 1,502 million against CAD 1,531 million a year ago. Income before income taxes was CAD 426 million against CAD 678 million a year ago. Comparable earnings were CAD 518 million against CAD 490 million a year ago. Net cash provided by operations were CAD 1,049 million against CAD 762 million a year ago. For the quarter, the company reported asset impairment charges of CAD 211 million. The company’s overall earnings outlook for 2016 remains consistent with what was previously included in the 2015 Annual Report. Any changes in outlook with respect to specific lines of business are addressed within each business section of the MD&A. This outlook excludes the Columbia acquisition and related financing and asset sales.

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