NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 4 – PLANT, PROPERTY AND EQUIPMENT December 31  (millions of dollars) 2001 2000 Accumulated Net Net Cost Depreciation Book Value Book Value Transmission Alberta System Pipeline 4,810 1,607 3,203 3,192 Compression 1,489 413 1,076 1,069 Metering and other 964 258 706 866 7,263 2,278 4,985 5,127 Under construction 33 – 33 53 7,296 2,278 5,018 5,180 Canadian Mainline Pipeline 8,659 2,708 5,951 6,132 Compression 3,400 738 2,662 2,727 Metering and other 444 124 320 309 12,503 3,570 8,933 9,168 Under construction 21 – 21 34 12,524 3,570 8,954 9,202 North American pipelines and other 3,998 1,484 2,514 2,445 23,818 7,332 16,486 16,827 Power Power generation facilities 1,620 366 1,254 725 Other 77 34 43 46 1,697 400 1,297 771 Corporate 124 58 66 111 25,639 7,790 17,849 17,709 NOTE 5 – JOINT VENTURE INVESTMENTS (millions of dollars) TransCanada’s Proportionate Share Income  Before Income Taxes Net Assets Ownership Year ended December 31 December 31 Interest 2001 2000 1999 2001 2000 Transmission Joint Ventures Great Lakes 50.0% 89 84 85 473 433 Iroquois 41.0% 1 27 22 20 132 88 Foothills 50.0 – 74.5% 26 33 29 215 204 Trans Québec & Maritimes 50.0% 15 14 13 80 82 TC PipeLines, LP 33.4% 2 23 5 – 136 104 Other Various 19 15 33 40 43 Power Joint Ventures TransCanada Power, L.P. 35.6% 3 21 21 17 253 236 ASTC Power Partnership 50.0% 4 – – – 118 – Ocean State Power 5 – 22 29 – – 220 216 226 1,447 1,190 1 During 1999, the Company increased its interest in Iroquois from 29.0 per cent to 35.0 per cent. In May 2001, the Company increased its interest to 41.0 per cent. 2 In September 2000, the accounting treatment for TC PipeLines, LP changed from consolidation to proportionate consolidation as a result of a change in the control relationship. 3 During 1999, the Company decreased its interest in TransCanada Power, L.P. from 39.8 per cent to 32.7 per cent. During 2000, the Company increased its interest to  41.6 per cent and in October 2001, decreased its interest to 35.6 per cent. 4 In December 2001, the Company purchased 50 per cent of ASTC Power Partnership, which is located in Alberta and holds a power purchase arrangement. 5 In October 2000, the Company increased its interest in the Ocean State Power plant from 70.1 per cent to 100 per cent and the investment was consolidated subsequent to that date. Consolidated retained earnings at December 31, 2001 include undistributed earnings from these joint ventures of $347 million (2000 – $267 million). 2001 ANNUAL REPORT  49