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Historical information

TransCanada PipeLines Limited (TCPL) financial statements

TransCanada PipeLines Limited (TCPL) is a wholly owned subsidiary of TC Energy Corporation (TC Energy). TCPL is relying on the continuous disclosure documents filed by TC Energy (previously TransCanada) pursuant to an exemption from the requirements of National Instrument 51-102 - Continuous Disclosure Obligations and as provided in the decision of the Alberta Securities Commission and the Ontario Securities Commission in Re TransCanada Corporation, 2019 ABASC1. On February 14, 2019, TCPL filed a notice on SEDAR to confirm its reliance on the exemptive relief which can be found here.

The impact of the exemptive relief is that TCPL will no longer be required to file various continuous disclosure documents, including annual financial statements, interim financial reports, management's discussion and analysis, an annual information form, news releases, material change reports, business acquisition reports and executive compensation disclosure; so long as the exemptive relief remains in effect. Continuous disclosure documents can be found for viewing in electronic format at www.sedarplus.ca under the company profile for TC Energy and here.

On March 5, 2014, TCPL was delisted from the Toronto Stock Exchange, as its outstanding preferred shares were redeemed. The information on this page is historical and will not be updated. If you would like to review more recent TCPL regulatory filings and financial reports, please visit SEDAR+.

If you hold TCPL preferred shares that you have not yet redeemed, please contact our transfer agent.

 
  Q1 Q2 Q3 Q4
2023

First Quarter
(276 KB, PDF)

Second Quarter
(336 KB, PDF)

Third Quarter
(340 KB, PDF)

Annual financial statements
(2,397 KB, PDF)

TransCanada PipeLines Limited (TCPL) regulatory filings

TC Energy (then TransCanada) 2016 acquisition of Columbia Pipeline Group

On July 1, 2016, TC Energy Corporation (then TransCanada Corporation) completed the transaction to acquire all of the outstanding shares of Columbia Pipeline Group, Inc. (NYSE: CPGX) (Columbia) for an aggregate purchase price of approximately US$13 billion, including the assumption of approximately US$2.8 billion of debt.

For background on this acquisition, please read the news release. If you have any questions after reading this Q&A, please email them to us and we'll do our best to answer them.

 

FAQs regarding the 2016 acquisition of CPG

Columbia Pipeline Group, Inc. financial statements

Bondholders, please direct your attention to the Columbia Pipelines Operating Company LLC Financial Statements as the Senior Notes previously held by Columbia Pipeline Group, Inc. now reside with that entity. With proof of ownership, bondholders may request a copy of the external audit opinion associated with the Columbia Pipeline Group, Inc. Financial Statements from 2017-2022.

Columbia Pipelines holding company LLC financial statements

  Q1 Q2 Q3 Q4
2023 - -

Third Quarter
(269 KB, PDF)

-

Bondholders with proof of ownership may request a copy of the external audit opinion associated financial statements.

Columbia Pipelines Operating Company LLC financial statements

  Q1 Q2 Q3 Q4
2023 - -

Third Quarter
(260 KB, PDF)

-

Bondholders with proof of ownership may request a copy of the external audit opinion associated financial statements.

TC PipeLines, LP financial reports

  Q1 Q2 Q3 Q4
2023

First Quarter
(166 KB, PDF)

Second Quarter
(168 KB, PDF)

Third Quarter
(178 KB, PDF)

Fourth Quarter
(1,248 KB, PDF)

2022

First Quarter
(299 KB, PDF)

Second Quarter
(174 KB, PDF)

Third Quarter
(173 KB, PDF)

Fourth Quarter
(250 KB, PDF)

2021

First Quarter
(224 KB, PDF)

Second Quarter
(220 KB, PDF)

Third Quarter
(242 KB, PDF)

Fourth Quarter
(171 KB, PDF)

Bondholders with proof of ownership may request a copy of the external audit opinion associated financial statements.

TC Energy Corporation (then TransCanada Corporation) 2003 restructuring

On May 15, 2003, TC Energy Corporation (then TransCanada Corporation) received regulatory approvals to establish it as the parent company of TransCanada PipeLines Limited. Shareholders voted in favour of the change to the corporate structure of the company at the Annual and Special Meeting on April 25.

For background on this issue, please see the letter to shareholders and Q&As from Board of Directors' then chairman, Dick Haskayne and then chief executive officer, Hal Kvisle, as well as information included in the Management Proxy Circular.

If you have any questions after reading this Q&A, please email them to us and we'll do our best to answer them.

FAQs regarding the 2003 restructuring

TC Energy-NOVA merger 1998

On July 2, 1998, TC Energy (then called TransCanada Pipelines Limited or "TCPL") and NOVA Corporation merged and then split off the commodity chemicals business carried on by NOVA into a separate public company, NOVA Chemicals.

Merger and tax information

Joint letter from Nova and TC Energy (then called TransCanada) to Canadian shareholders

Re: Determination of Fair Market Value of Shares on July 2, 1998

As was stated in the Canadian income tax section set out on pages 66 - 70 of the Joint Management Information Circular dated May 19, 1998 (the "Joint Information Circular"), the determination of the fair market value of certain shares is relevant to the shareholders of NOVA and TransCanada in determining the Canadian income tax consequences of the transactions described in the Plan of Agreement (the "Plan"), which became effective on July 2, 1998.

All capitalized terms not otherwise defined herein have the same meanings as set out in the Joint Information Circular.Revenue Canada may accept a number of different approaches in valuing shares of a public company at a particular time. For your information, NOVA and TransCanada are presently planning for purposes of their respective Canadian tax filings to determine the fair market value of the publicly traded shares by reference to the ten day weighted average prices as transacted on The Toronto Stock Exchange.

Based on a valuation approach derived from the use of ten day weighted average prices, the fair market values were:

Using this valuation approach,

  1. The proceeds of disposition of a NOVA Common Share were $16.90;
  2. The cost of a TransCanada Common Share received by a NOVA Common Shareholder was initially $32.50;
  3. For purposes of calculating the cost of a TransCanada common share (referred to in the Joint Information Circular as an EnergyCo. Common Share) immediately after the Plan is effective, $5.57 (being .2 of $27.85 to reflect the 1 for 5 share consolidation) must be deducted from the adjusted cost base otherwise determined of each TransCanada Common Share;
  4. The cost of a NOVA common share (post-merger) (referred to in the Joint Information Circular as a NOVA Chemicals Common Share) was $27.85.

The above information is being provided in light of numerous requests received by both companies from Canadian shareholders. This letter is not intended to be a substitute for the description of tax consequences in the Joint Information Circular and should not be construed to be legal, business, tax or valuation advice to any particular shareholder. Accordingly, shareholders should consult their own advisors as to the tax consequences to them of the Plan in their circumstances, particularly if a shareholder wishes to consider adopting a different valuation approach.

In addition to the foregoing, NOVA will be sending its shareholders T5 income tax reporting slips for purposes of reporting the deemed dividend arising on the cash payment in lieu of (and on the cancellation of) an interest in a fractional share as described on page 68 of the Joint Information Circular.If you have any questions with respect to any of the foregoing, please contact NOVA at 1.800.522.1721 or TransCanada at 1.800.361.6522.

Joint letter from Nova and TC Energy (then called TransCanada) to United States shareholders

Re: Determination of Fair Market Value of Shares on July 2, 1998

The plan of Arrangement (the "Plan") involving NOVA Corporation ("NOVA") and TransCanada PipeLines Limited ("TransCanada") described in the Joint Management Information Circular dated May 19, 1998 (the "Joint Information Circular") became effective on July 2, 1998 (the "Effective Date"). As stated in the United States income tax section, set forth on pages 70 - 75 of the Joint Information Circular, the fair market value of a common share of NOVA on the Effective Date after consummation of the Plan (a "NOVA common share" which is referred to in the Joint Information Circular as a NOVA Chemicals Common Share) and the fair market value of a common share of TransCanada without giving effect to the distribution of the NOVA Common Shares (a "TransCanada Common Share") is relevant to shareholders of TransCanada and NOVA for purposes of determining certain United States federal income tax consequences to them of the Plan. The purpose of this letter is to provide information regarding estimates of such fair market values.

All capitalized terms not otherwise defined herein have the same meanings as set out in the Joint Information Circular.

The Internal Revenue Service may accept different approaches in valuing shares of a publicly-traded company at a particular time.

Based on discussions with US tax counsel, we believe that it would be reasonable to use the following amounts (which are expressed in United States dollars) as estimates of fair market value:

The estimated fair market value of a TransCanada Common Share was derived from the simple average of the high and low trading prices on the Toronto Stock Exchange on July 2, 1998. The estimated fair market value of a NOVA Common Share (referred to in the Joint Information Circular as a NOVA Chemicals Common Share) was derived from the opening trading price on the Toronto Stock Exchange on July 3, 1998. These amounts were converted to United States dollars based on the mid-day exchange rate in effect on the particular date.

Using these estimated values,

  1. The fair market value of the consideration received for a NOVA Common Share was $11.56 (being .52 x $22.23);
  2. The initial tax basis in a TransCanada Common Share received by a NOVA Common Shareholder, prior to any adjustment to such tax basis as a result of the distribution of the NOVA Common Shares, was $22.23;
  3. The initial tax basis in a NOVA Common Share (referred to in the Joint Information Circular as a NOVA Chemicals Common Share) received by NOVA and TransCanada common shareholders was $20.89.

TransCanada intends to report to United States shareholders in February 1999 the portion of the fair market value of a NOVA Common Share (referred to in the Joint Information Circular as a NOVA Chemicals Common Share) that should be treated as a dividend for US federal income tax purposes.

The above information is being provided in light of numerous requests received by both companies from United States shareholders. This letter is not intended to be a substitute for the description of tax consequences in the Joint Information Circular and should not be construed to be legal, business, tax or valuation advice to any particular shareholder. We believe that the use of the trading prices set forth above is a reasonable approach to estimate the fair market values of a TransCanada Common Share and a NOVA Common Share for purposes of determining certain United States federal income tax consequences of the Plan; however, as stated above, other approaches could be utilized for this purpose. Accordingly, shareholders should review the United States tax section in the Joint Information Circular and should consult their own advisors as to the tax consequences to them of the Plan in their particular circumstances, particularly if a shareholder wishes to consider adopting a different valuation approach.

In addition to the forgoing, NOVA will be sending its United States shareholders NR4 supplementary income tax reporting slips for purposes of reporting for Canadian federal income tax purposes the deemed dividend and related non-resident withholding tax arising on the cash payment in lieu of (and on the cancellation of) an interest in a fractional share as described on page 70 of the Joint Information Circular.

If you have any questions with respect to any of the foregoing, please contact NOVA 1.800.522.1721 or TransCanada at 1.800.361.6522.

Stock splits

There has been two stock splits in TC Energy's history:

June 12, 1974
  • 3-for-1 Stock Split
  • TSX price on that day was $9.88
February 20, 1984
  • 2-for-1 Stock Split
  • TSX price on that day was $16.00
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