STRENGTH & STABILITY

Reconciliation of net (loss)/income to comparable earnings
year ended December 31
(millions of $, except per share amounts) 2015 2014 2013
Net (loss)/income attributable to common shares (1,240) 1,743 1,712
Specific items (net of tax):
Keystone XL impairment charge 2,891 — —
TC Offshore loss on sale 86 — —
Restructuring costs 74 — —
Turbine equipment impairment charge 43 — —
Alberta corporate income tax rate increase 34 — —
Bruce Power merger – debt retirement charge 27 — —
Non-controlling interests (TC PipeLines, LP – Great Lakes impairment) (199) — —
Cancarb gain on sale — (99) —
Niska contract termination — 32 —
Gas Pacifico/ INNERGY gain on sale — (8) —
NEB 2013 Decision – 2012 — — (84)
Part VI.I income tax adjustment — — (25)
Risk management activities 1 39 47 (19)
Comparable earnings 1,755 1,715 1,584
Net (loss)/income per common share ($1.75) $2.46 $2.42
Specific items (net of tax):
Keystone XL impairment charge 4.08 — —
TC Offshore loss on sale 0.12 — —
Restructuring costs 0.10 — —
Turbine equipment impairment charge 0.06 — —
Alberta corporate income tax rate increase 0.05 — —
Bruce Power merger – debt retirement charge 0.04 — —
Non-controlling interests (TC PipeLines, LP – Great Lakes impairment) (0.28) — —
Cancarb gain on sale — (0.14) —
Niska contract termination — 0.04 —
Gas Pacifico/ INNERGY gain on sale — (0.01) —
NEB 2013 Decision – 2012 — — (0.12)
Part VI.I income tax adjustment — — (0.04)
Risk management activities 0.06 0.07 (0.02)
Comparable earnings per common share $2.48 $2.42 $2.24
1
year ended December 31
(millions of $) 2015 2014 2013
Canadian Power (8) (11) (4)
U.S. Power (30) (55) 50
Natural Gas Storage 1 13 (2)
Foreign exchange (21) (21) (9)
Income tax attributable to risk management activities 19 27 (16)
Total (losses)/gains from risk management activities (39) (47) 19
22 TransCanada Management's discussion and analysis 2015