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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2017
Property, plant and equipment [abstract] |
Disclosure of detailed information about property, plant and equipment | Depreciation of an asset commences when it is available for use. Property, plant and equipment are depreciated on a straight line or declining-balance basis over the estimated useful lives of each component of the assets as follows:
Buildings |  | Up to 70 years
Transmission stations, towers and related fixtures |  | Up to 40 years
Leasehold improvements |  | Up to 50 years
Plant and equipment |  | Up to 40 years
Network systems |  | Up to 60 years
Track |  | Up to 40 years
District energy systems |  | Up to 50 years
Gas storage assets |  | Up to 50 years
The following table summarizes the carrying amount of property, plant and equipment that would have been recognized had assets been carried under the cost model.
US$ MILLIONS |  | Dec. 31, 2017 |  | Dec. 31, 2016
Utilities |  | $ | 2,961 |  |  | $ | 2,512 |
Transport |  | 1,970 |  |  | 1,845 |
Energy |  | 2,246 |  |  | 2,122 |
The following table summarizes the valuation techniques and significant inputs for Brookfield Infrastructure’s property, plant and equipment assets, categorized by segment.
|  | Dec. 31, 2017 |  | Dec. 31, 2016
Segment |  | Valuation Technique |  | Discount Rate |  | Terminal Value Multiple |  | Investment Horizon |  | Valuation Technique |  | Discount Rate |  | Terminal Value Multiple |  | Investment Horizon
Utilities |  | Discounted cash flow model |  | 7% to 12% |  | 7x to 21x |  | 10 to 20 yrs |  | Discounted cash flow model |  | 7% to 12% |  | 7x to 18x |  | 10 to 20 yrs
Transport |  | Discounted cash flow model |  | 10% to 15% |  | 9x to 14x |  | 10 to 20 yrs |  | Discounted cash flow model |  | 10% to 17% |  | 8x to 14x |  | 10 to 20 yrs
Energy |  | Discounted cash flow model |  | 12% to 15% |  | 8x to 13x |  | 10 yrs |  | Discounted cash flow model |  | 9% to 14% |  | 10x to 12x |  | 10 yrs
US$ MILLIONS |  | Utility Assets |  | Transport Assets |  | Energy Assets |  | Total Assets
Gross Carrying Amount: |  |  |  |  |  |  |  |
Balance at January 1, 2016 |  | $ | 2,945 |  |  | $ | 2,150 |  |  | $ | 1,457 |  |  | $ | 6,552 |
Additions, net of disposals |  | 399 |  |  | 76 |  |  | 89 |  |  | 564 |
Non-cash (disposals) additions |  | (31 | ) |  | 3 |  |  | — |  |  | (28 | )
Acquisitions through business combinations(1) |  | — |  |  | 242 |  |  | 825 |  |  | 1,067 |
Net foreign currency exchange differences |  | (418 | ) |  | (109 | ) |  | 9 |  |  | (518 | )
Balance at December 31, 2016 |  | $ | 2,895 |  |  | $ | 2,362 |  |  | $ | 2,380 |  |  | $ | 7,637 |
Additions, net of disposals |  | 349 |  |  | 104 |  |  | 95 |  |  | 548 |
Non-cash disposals |  | — |  |  | — |  |  | (14 | ) |  | (14 | )
Acquisitions through business combinations(1) |  | — |  |  | — |  |  | 100 |  |  | 100 |
Net foreign currency exchange differences |  | 227 |  |  | 191 |  |  | 68 |  |  | 486 |
Balance at December 31, 2017 |  | $ | 3,471 |  |  | $ | 2,657 |  |  | $ | 2,629 |  |  | $ | 8,757 |
Accumulated depreciation: |  |  |  |  |  |  |  |
Balance at January 1, 2016 |  | $ | (291 | ) |  | $ | (418 | ) |  | $ | (159 | ) |  | $ | (868 | )
Depreciation expense |  | (128 | ) |  | (127 | ) |  | (99 | ) |  | (354 | )
Non-cash disposals |  | — |  |  | 4 |  |  | — |  |  | 4 |
Net foreign currency exchange differences |  | 36 |  |  | 24 |  |  | — |  |  | 60 |
Balance at December 31, 2016 |  | $ | (383 | ) |  | $ | (517 | ) |  | $ | (258 | ) |  | $ | (1,158 | )
Depreciation expense |  | (118 | ) |  | (147 | ) |  | (117 | ) |  | (382 | )
Disposals |  | 19 |  |  | 21 |  |  | — |  |  | 40 |
Non-cash disposals |  | — |  |  | — |  |  | 5 |  |  | 5 |
Net foreign currency exchange differences |  | (28 | ) |  | (44 | ) |  | (13 | ) |  | (85 | )
Balance at December 31, 2017 |  | $ | (510 | ) |  | $ | (687 | ) |  | $ | (383 | ) |  | $ | (1,580 | )
Accumulated fair value adjustments: |  |  |  |  |  |  |  |
Balance at January 1, 2016 |  | $ | 945 |  |  | $ | 777 |  |  | $ | 226 |  |  | $ | 1,948 |
Fair value adjustments |  | 185 |  |  | 25 |  |  | 125 |  |  | 335 |
Net foreign currency exchange differences |  | (87 | ) |  | (20 | ) |  | 1 |  |  | (106 | )
Balance at December 31, 2016 |  | $ | 1,043 |  |  | $ | 782 |  |  | $ | 352 |  |  | $ | 2,177 |
Fair value adjustments |  | 137 |  |  | 24 |  |  | 257 |  |  | 418 |
Net foreign currency exchange differences |  | 78 |  |  | 67 |  |  | 20 |  |  | 165 |
Balance at December 31, 2017 |  | $ | 1,258 |  |  | $ | 873 |  |  | $ | 629 |  |  | $ | 2,760 |
Net book value: |  |  |  |  |  |  |  |
December 31, 2017 |  | $ | 4,219 |  |  | $ | 2,843 |  |  | $ | 2,875 |  |  | $ | 9,937 |
December 31, 2016 |  | $ | 3,555 |  |  | $ | 2,627 |  |  | $ | 2,474 |  |  | $ | 8,656 |
(1) | See Note 5, Acquisition of Business for additional information.

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