NOTE 16 – CHANGES IN OPERATING WORKING CAPITAL NOTE 17 – COMMITMENTS AND CONTINGENCIES NOTE 18 – RESTRUCTURING AND OTHER COSTS NOTE 19 – DISCONTINUED OPERATIONS 2001 ANNUAL REPORT  61 Realized proceeds from disposals of discontinued operations were $1.2 billion in 2001, compared to the original estimate of $0.9 billion. In April 1999, the Board of Directors approved a plan (April Plan) to dispose of ANGUS Chemical Company, TransCanada's U.S. midstream business, and the U.S. refined products and natural gas liquids marketing business. The Company recorded a net gain of $20 million, after tax, in 1999, related to these discontinued operations. The disposals under the April Plan were completed at December 31, 2001. In December 1999, the Board of Directors approved a plan (December Plan) to dispose of the Company’s International, Canadian midstream and certain other businesses. The Company recorded a net loss of $439 million, after tax, in 1999, related to the December Plan reflecting Management’s best estimates. As a result of actual results and revised estimates, a positive $20 million after-tax adjustment was recorded in 2001 (2000 – $200 mil- lion). The disposals under the December Plan were substantially completed at December 31, 2001. TransCanada remains contingently liable pursuant to obligations under certain energy trading contracts that relate to the divested Gas Marketing business. The Company has deferred recognition of after-tax gains on sales in the amount of approximately $100 million and has included this in the December 31, 2001 balance sheet provision. The gains will be recognized in income from discontinued operations as the underlying exposures reduce. The contingent liability under these obligations, which could be significant, is contingent on certain future events, the occurrence of which is not deter- minable, and the amount, if any, is dependent upon future prevailing market prices and conditions. The purchasers of the Gas Marketing business have agreed to indemnify TransCanada in the event the Company is called upon to perform under the obligations. In July 2001, the Board of Directors approved a plan to dispose of the Company’s Gas Marketing business. The Gas Marketing business provided sup- ply, transportation and asset management services, as well as structured financial products and services, to its customers in Canada and the northern tier of the United States. In 2001, the Company recorded a net loss of $87 million, after tax, related to Gas Marketing based on Management’s estimates of proceeds and disposal costs. The Company’s exit from Gas Marketing was substantially completed at December 31, 2001. In 1998, the Company recorded restructuring costs related to the business combination with NOVA Corporation (Merger Plan). The remain- ing restructuring liability related to the Merger Plan was $28 million at December 31, 2000. As at December 31, 2001, the Merger Plan is complete. The 1999 Strategic Plan included costs of $51 million for the termination of 367 employees, represented by 61 management and 306 non- management positions. This plan is substantially complete. The remaining liability at December 31, 2001 is $8 million (2000 – $47 million). In 1999, TransCanada recorded restructuring and other costs of $170 million including $47 million for terminations under its 1998 Merger Plan and $123 million as a result of the Company’s 1999 Strategic Plan. The Company and its subsidiaries are subject to various legal proceedings and actions arising in the normal course of business. Management considers the aggregate liability, if any, to the Company and its subsidiaries in respect of these actions and proceedings not to be material. Year ended December 31  (millions of dollars) 2001 2000 1999 Decrease/(increase) in accounts receivable 38 (92) 122 Decrease/(increase) in inventories 52 5 (21) (Increase)/decrease in other current assets (12) (6) 5 Increase/(decrease) in accounts payable 105 (318) 122 (Decrease)/increase in accrued interest (13) (5) 9 170 (416) 237 Year ended December 31  (millions of dollars) 2001 2000 1999 Restructuring Employee terminations 8 5 98 Real estate  – – 17 8 5 115 Other Asset impairments – – 13 Costs to exit a business and other – (5) 42 – (5) 55 8 – 170 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS