6-K
TRANSCANADA PIPELINES LTD (TCPA)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of November 2021
Commission File No. 1-8887
TransCanada PipeLines Limited
(Translation of Registrants’ Names into English)
450 - 1 Street S.W., Calgary, Alberta, T2P 5H1, Canada
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F o Form 40-F þ
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Exhibit 99.1 to this report, furnished on Form 6-K, shall be incorporated by reference into the following Registration Statements under the Securities Act of 1933, as amended, of the registrant: Form F-10 (File Nos. 333-235546 and 333-253333).
EXHIBIT INDEX
| 99.1 | Schedule of earnings coverage calculations at September 30, 2021. |
|---|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: November 5, 2021 | TRANSCANADA PIPELINES LIMITED | |
|---|---|---|
| By: | /s/ Joel E. Hunter | |
| Joel E. Hunter | ||
| Executive Vice-President and Chief Financial Officer | ||
| By: | /s/ G. Glenn Menuz | |
| G. Glenn Menuz | ||
| Vice-President and Controller |
Document
EXHIBIT 99.1
TransCanada PipeLines Limited
EARNINGS COVERAGE
Supplemental Financial Information (unaudited)
Exhibit to the September 30, 2021 Consolidated Financial Statements of TC Energy Corporation
September 30, 2021
The following financial ratios have been calculated on a consolidated basis for twelve-month period ended September 30, 2021 and are based on unaudited financial information of TransCanada PipeLines Limited (the Corporation). The financial ratios have been calculated based on financial information prepared in accordance with US generally accepted accounting principles. The following ratios have been prepared based on net income:
| September 30, 2021 | |
|---|---|
| Earnings coverage on long-term debt and current liabilities | 1.8 times |
| Earnings coverage on long-term debt and current liabilities excluding loss on sale of Ontario natural gas-fired power plants, Keystone XL asset impairment charge and other, Keystone XL preservation and other, and voluntary retirement program during the twelve-month period ended September 30, 2021 | 3.0 times* |
The Corporation’s interest obligations for the twelve-month period ended September 30, 2021 amounted to approximately $2.377 billion. The Corporation’s earnings before interest expense and income taxes amounted to approximately $4.209 billion for the twelve-month period ended September 30, 2021, which is 1.8 times the Corporation’s interest requirements for that period.
* The Corporation’s interest obligations for the twelve-month period ended September 30, 2021 amounted to approximately $2.377 billion. The Corporation’s earnings before interest expense and income taxes, excluding loss on sale of Ontario natural gas-fired power plants, Keystone XL asset impairment charge and other, Keystone XL preservation and other, and voluntary retirement program amounted to approximately $7.239 billion for the twelve-month period ended September 30, 2021, which is 3.0 times the Corporation’s interest requirements for that period.