XML 33 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUBSIDIARY PUBLIC ISSUERS
6 Months Ended
Jun. 30, 2018
Subsidiary Public Issuer [Abstract]  
SUBSIDIARY PUBLIC ISSUERS
SUBSIDIARY PUBLIC ISSUERS
An indenture dated as of October 10, 2012 between certain wholly-owned subsidiaries of our partnership, Brookfield Infrastructure Finance ULC, Brookfield Infrastructure Finance LLC, Brookfield Infrastructure Finance Pty Ltd and Brookfield Infrastructure Finance Limited (collectively, the “Debt Issuers” together with Brookfield Infrastructure Preferred Equity Inc. the “Issuers”), and Computershare Trust Company of Canada, as supplemented and amended from time to time (“Indenture”) provides for the distribution of one or more series of unsecured debentures or notes of the Debt Issuers.
On April 17, 2017, the Debt Issuers issued C$400 million of medium-term notes under the Indenture maturing February 22, 2024 in the Canadian bond market with a coupon of 3.3%, which was swapped into U.S. dollars on a matched maturity basis at an all-in rate of 4.0%.
On February 22, 2017, the Debt Issuers issued C$300 million of medium-term notes under the Indenture maturing February 22, 2024 in the Canadian bond market with a coupon of 3.3%, which was swapped into U.S. dollars on a matched maturity basis at an all-in rate of 4.1%.
On October 30, 2015, the Debt Issuers issued C$500 million of medium-term notes under the Indenture in the Canadian bond market in two tranches: C$125 million of three-year notes maturing October 30, 2018 with a coupon of 3.0%; and C$375 million of five-year notes maturing October 30, 2020 with a coupon of 3.5%. The three-year and five-year bonds were swapped into U.S. dollars on a matched maturity basis at an all-in rate of 3.8%.
On March 11, 2015, the Debt Issuers issued C$450 million of medium-term notes under the Indenture maturing March 11, 2022 in the Canadian bond market with a coupon of 3.5%, which was swapped into U.S. dollars on a matched maturity basis at an all-in rate of 3.9%.
These notes are unconditionally guaranteed by our partnership and its subsidiaries, Brookfield Infrastructure L.P. (the “Holding LP”), Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure US Holdings I Corporation and BIP Bermuda Holdings I Limited.
The following tables set forth consolidated summary financial information for our partnership and the Issuers:
FOR THE THREE-MONTH PERIOD ENDED
JUNE 30, 2018
US$ MILLIONS
 
Our partnership(2)

 
The Issuers

 
Subsidiaries of our
partnership other
than the Issuers(3)

 
Consolidating
adjustments(4)

 
Our
partnership
consolidated

 
 
 
 
 
Revenues
 
$

 
$

 
$

 
$
1,044

 
$
1,044

Net income attributable to partnership(1)
 
64

 

 
125

 
(64
)
 
125

 
 
 
 
 
 
 
 
 
 
 
FOR THE THREE-MONTH PERIOD ENDED
JUNE 30, 2017
 
 
 
 
 
 
 
 
 
 
Revenues
 
$

 
$

 
$

 
$
934

 
$
934

Net (loss) income attributable to partnership(1)
 
(10
)
 

 
13

 
10

 
13

 
 
 
 
 
 
 
 
 
 
 
FOR THE SIX-MONTH PERIOD ENDED
JUNE 30, 2018
 
 
 
 
 
 
 
 
 
 
Revenues
 
$

 
$

 
$

 
$
2,057

 
$
2,057

Net income attributable to partnership(1)
 
186

 

 
334

 
(186
)
 
334

 
 
 
 
 
 
 
 
 
 
 
FOR THE SIX-MONTH PERIOD ENDED
JUNE 30, 2017
 
 
 
 
 
 
 
 
 
 
Revenues
 
$

 
$

 
$

 
$
1,590

 
$
1,590

Net (loss) income attributable to partnership(1)
 
(14
)
 

 
35

 
14

 
35

 
 
 
 
 
 
 
 
 
 
 
AS OF JUNE 30, 2018
 
 
 
 
 
 
 
 
 
 
Current assets
 
$

 
$

 
$

 
$
2,135

 
$
2,135

Non-current assets
 
5,244

 

 
6,567

 
14,884

 
26,695

Current liabilities
 

 

 

 
1,470

 
1,470

Non-current liabilities
 

 
1,256

 

 
13,828

 
15,084

Non-controlling interests – Redeemable Partnership Units held by Brookfield
 

 

 

 
1,832

 
1,832

Non-controlling interests – in operating subsidiaries
 

 

 

 
5,125

 
5,125

Preferred unitholders
 

 

 

 
752

 
752

 
 
 
 
 
 
 
 
 
 
 
AS OF DECEMBER 31, 2017
 
 
 
 
 
 
 
 
 
 
Current assets
 
$

 
$

 
$

 
$
1,512

 
$
1,512

Non-current assets
 
5,514

 

 
5,987

 
16,464

 
27,965

Current liabilities
 

 

 

 
1,564

 
1,564

Non-current liabilities
 

 
1,313

 

 
13,126

 
14,439

Non-controlling interests – Redeemable Partnership Units held by Brookfield
 

 

 

 
2,012

 
2,012

Non-controlling interests – in operating subsidiaries
 

 

 

 
5,875

 
5,875

Preferred unitholders
 

 

 

 
595

 
595

1.
Includes net income attributable to non-controlling interest Redeemable Partnership Units held by Brookfield, general partner and limited partners.
2.
Includes investments in all subsidiaries of our partnership under the equity method.
3.
Includes investments in all subsidiaries of the Holding LP, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure US Holdings I Corporation and BIP Bermuda Holdings I Limited under the equity method.
4.
Includes elimination of intercompany transactions and balances necessary to present our partnership on a consolidated basis.