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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2018
Operating Segments [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION
IFRS 8, Operating Segments, requires operating segments to be determined based on information that is regularly reviewed by the Executive Management and the Board of Directors for the purpose of allocating resources to the segment and to assess its performance. Key measures used by the Chief Operating Decision Maker (“CODM”) in assessing performance and in making resource allocation decisions are Funds from Operations (“FFO”) and earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”), which enable the determination of return on the equity deployed. FFO is calculated as net income excluding the impact of depreciation and amortization, deferred income taxes, breakage and transaction costs, and non-cash valuation gains or losses. Adjusted EBITDA is calculated as net income excluding the impact of depreciation and amortization, interest expense, current and deferred income taxes, breakage and transaction costs, and non-cash valuation gains or losses.
 
 
Total attributable to Brookfield Infrastructure
 
 
 
 
 
 
FOR THE THREE-MONTH PERIOD ENDED
JUNE 30, 2018
US$ MILLIONS
 
Utilities

 
Transport

 
Energy

 
Data
Infrastructure(1)

 
Corporate

 
Total

 
Contribution
from
investments
in associates

 
Attributable
to non-
controlling
interest

 
As per
IFRS
financials(2)

 
 
 
 
 
 
 
 
Revenues
 
$
245

 
$
410

 
$
137

 
$
45

 
$
—

 
$
837

 
$
(368
)
 
$
575

 
$
1,044

Costs attributed to revenues
 
(68
)
 
(237
)
 
(68
)
 
(22
)
 
—

 
(395
)
 
211

 
(283
)
 
(467
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(54
)
 
(54
)
 
—

 
—

 
(54
)
Adjusted EBITDA
 
177

 
173

 
69

 
23

 
(54
)
 
388

 
(157
)
 
292

 
 
Other (expense) income
 
(8
)
 
—

 
3

 
(1
)
 
16

 
10

 
4

 
(26
)
 
(12
)
Interest expense
 
(30
)
 
(40
)
 
(18
)
 
(3
)
 
(13
)
 
(104
)
 
30

 
(51
)
 
(125
)
FFO
 
139

 
133

 
54

 
19

 
(51
)
 
294

 
(123
)
 
215

 
 
Depreciation and amortization
 
(43
)
 
(85
)
 
(38
)
 
(17
)
 
—

 
(183
)
 
91

 
(96
)
 
(188
)
Deferred taxes
 
(12
)
 
(1
)
 
(1
)
 
—

 
1

 
(13
)
 
(3
)
 
(10
)
 
(26
)
Mark-to-market on hedging items and other
 
(10
)
 
(23
)
 
(20
)
 
1

 
79

 
27

 
34

 
(15
)
 
46

Share of earnings from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
1

 
—

 
1

Net income attributable to non-controlling interest and preferred unitholders
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(94
)
 
(94
)
Net income (loss) attributable to partnership(3)
 
$
74

 
$
24

 
$
(5
)
 
$
3

 
$
29

 
$
125

 
$
—

 
$
—

 
$
125



 
 
Total attributable to Brookfield Infrastructure
 
 
 
 
 
 
FOR THE THREE-MONTH PERIOD ENDED
JUNE 30, 2017
US$ MILLIONS
 
Utilities

 
Transport

 
Energy

 
Data
Infrastructure(1)

 
Corporate

 
Total

 
Contribution
from
investments
in associates

 
Attributable to non-controlling
interest

 
As per IFRS
financials(2)

 
 
 
 
 
 
 
 
 
Revenues
 
$
278

 
$
395

 
$
123

 
$
41

 
$
—

 
$
837

 
$
(408
)
 
$
505

 
$
934

Costs attributed to revenues
 
(73
)
 
(224
)
 
(60
)
 
(18
)
 
—

 
(375
)
 
220

 
(218
)
 
(373
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(59
)
 
(59
)
 
—

 
—

 
(59
)
Adjusted EBITDA
 
205

 
171

 
63

 
23

 
(59
)
 
403

 
(188
)
 
287

 
 
Other (expense) income
 
(8
)
 
1

 
3

 
(1
)
 
7

 
2

 
1

 
(16
)
 
(13
)
Interest expense
 
(29
)
 
(38
)
 
(23
)
 
(3
)
 
(17
)
 
(110
)
 
44

 
(41
)
 
(107
)
FFO
 
168

 
134

 
43

 
19

 
(69
)
 
295

 
(143
)
 
230

 
 
Depreciation and amortization
 
(57
)
 
(75
)
 
(35
)
 
(19
)
 
—

 
(186
)
 
91

 
(111
)
 
(206
)
Deferred taxes
 
(12
)
 
2

 
5

 
3

 
(3
)
 
(5
)
 
(3
)
 
(10
)
 
(18
)
Mark-to-market on hedging items and other
 
(12
)
 
(18
)
 
(12
)
 
(1
)
 
(48
)
 
(91
)
 
19

 
13

 
(59
)
Share of earnings from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
36

 
—

 
36

Net income attributable to non-controlling interest and preferred unitholders
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(122
)
 
(122
)
Net income (loss) attributable to partnership(3)
 
$
87

 
$
43

 
$
1

 
$
2

 
$
(120
)
 
$
13

 
$
—

 
$
—

 
$
13

 
 
Total attributable to Brookfield Infrastructure
 
 
 
 
 
 
FOR THE SIX-MONTH PERIOD ENDED
JUNE 30, 2018
US$ MILLIONS
 
Utilities

 
Transport

 
Energy

 
Data
Infrastructure(1)

 
Corporate

 
Total

 
Contribution
from
investments
in associates

 
Attributable to non-controlling
interest

 
As per IFRS
financials(2)

 
 
 
 
 
 
 
 
 
Revenues
 
$
517

 
$
834

 
$
290

 
$
88

 
$
—

 
$
1,729

 
$
(791
)
 
$
1,119

 
$
2,057

Costs attributed to revenues
 
(137
)
 
(483
)
 
(142
)
 
(42
)
 
—

 
(804
)
 
431

 
(503
)
 
(876
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(112
)
 
(112
)
 
—

 
—

 
(112
)
Adjusted EBITDA
 
380

 
351

 
148

 
46

 
(112
)
 
813

 
(360
)
 
616

 
 
Other (expense) income
 
(11
)
 
2

 
8

 
(2
)
 
33

 
30

 
4

 
(51
)
 
(17
)
Interest expense
 
(61
)
 
(83
)
 
(36
)
 
(6
)
 
(30
)
 
(216
)
 
72

 
(95
)
 
(239
)
FFO
 
308

 
270

 
120

 
38

 
(109
)
 
627

 
(284
)
 
470

 
 
Depreciation and amortization
 
(101
)
 
(184
)
 
(71
)
 
(37
)
 
—

 
(393
)
 
202

 
(190
)
 
(381
)
Deferred taxes
 
(27
)
 
12

 
(3
)
 
2

 
1

 
(15
)
 
(12
)
 
(14
)
 
(41
)
Mark-to-market on hedging items and other
 
(57
)
 
(62
)
 
(38
)
 
1

 
(67
)
 
(223
)
 
98

 
(54
)
 
(179
)
Gain on sale of associates
 
—

 
—

 
—

 
—

 
338

 
338

 
—

 
—

 
338

Share of losses from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
(4
)
 
—

 
(4
)
Net income attributable to non-controlling interest and preferred unitholders
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(212
)
 
(212
)
Net income attributable to partnership(3)
 
$
123

 
$
36

 
$
8

 
$
4

 
$
163

 
$
334

 
$
—

 
$
—

 
$
334



 
 
Total attributable to Brookfield Infrastructure
 
 
 
 
 
 
FOR THE SIX-MONTH PERIOD ENDED
JUNE 30, 2017
US$ MILLIONS
 
Utilities

 
Transport

 
Energy

 
Data
Infrastructure(1)

 
Corporate

 
Total

 
Contribution
from
investments
in associates

 
Attributable to non-controlling
interest

 
As per IFRS
financials(2)

 
 
 
 
 
 
 
 
 
Revenues
 
$
454

 
$
770

 
$
265

 
$
80

 
$
—

 
$
1,569

 
$
(788
)
 
$
809

 
$
1,590

Costs attributed to revenues
 
(121
)
 
(434
)
 
(116
)
 
(35
)
 
—

 
(706
)
 
411

 
(421
)
 
(716
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(110
)
 
(110
)
 
—

 
—

 
(110
)
Adjusted EBITDA
 
333

 
336

 
149

 
45

 
(110
)
 
753

 
(377
)
 
388

 
 
Other (expense) income
 
(7
)
 
(2
)
 
6

 
(1
)
 
27

 
23

 
7

 
(16
)
 
14

Interest expense
 
(58
)
 
(77
)
 
(50
)
 
(6
)
 
(29
)
 
(220
)
 
93

 
(74
)
 
(201
)
FFO
 
268

 
257

 
105

 
38

 
(112
)
 
556

 
(277
)
 
298

 
 
Depreciation and amortization
 
(89
)
 
(151
)
 
(68
)
 
(36
)
 
—

 
(344
)
 
179

 
(161
)
 
(326
)
Deferred taxes
 
(18
)
 
7

 
—

 
5

 
(2
)
 
(8
)
 
(1
)
 
(9
)
 
(18
)
Mark-to-market on hedging items and other
 
(28
)
 
(39
)
 
(19
)
 
(2
)
 
(81
)
 
(169
)
 
40

 
18

 
(111
)
Share of earnings from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
59

 
—

 
59

Net income attributable to non-controlling interest and preferred unitholders
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(146
)
 
(146
)
Net income (loss) attributable to partnership(3)
 
$
133

 
$
74

 
$
18

 
$
5

 
$
(195
)
 
$
35

 
$
—

 
$
—

 
$
35

1.
During the second quarter of 2018, our Communications Infrastructure segment was renamed to Data Infrastructure. There was no concurrent change in the operations which comprise the segment.
2.
The above table provides each segment’s results in the format that management organizes its segments to make operating decisions and assess performance. Each segment is presented on a proportionate basis, taking into account Brookfield Infrastructure’s ownership in operations accounted for using the consolidation and equity methods under IFRS. The above table reconciles Brookfield Infrastructure’s proportionate results to our partnership’s Consolidated Statements of Operating Results on a line by line basis by aggregating the components comprising the earnings from our partnership’s investments in associates and reflecting the portion of each line item attributable to non-controlling interests.
3.
Includes net income (loss) attributable to non-controlling interests—Redeemable Partnership Units held by Brookfield, general partner and limited partners.
Segment assets
For the purpose of monitoring segment performance and allocating resources between segments, the CODM monitors the assets, including investments accounted for using the equity method, attributable to each segment.
The following is an analysis of Brookfield Infrastructure’s assets by reportable operating segment for the periods under review:
 
Total Attributable to Brookfield Infrastructure
 
 
 
 
 
 
 
 
AS OF JUNE 30, 2018
Utilities

 
Transport

 
Energy

 
Data
Infrastructure

 
Corporate

 
Total

 
Contribution
from
investments
in associates

 
Attributable
to non-
controlling
interest

 
Working
capital
adjustment
and other

 
As per
IFRS
financials(1)

US$ MILLIONS
 
 
 
 
 
 
 
 
 
Total assets
$
4,828

 
$
6,457

 
$
3,104

 
$
1,072

 
$
(781
)
 
$
14,680

 
$
(2,391
)
 
$
12,115

 
$
4,426

 
$
28,830

 
Total Attributable to Brookfield Infrastructure
 
 
 
 
 
 
 
 
AS OF DECEMBER 31, 2017
Utilities

 
Transport

 
Energy

 
Data
Infrastructure

 
Corporate

 
Total

 
Contribution
from
investments
in associates

 
Attributable
to non-
controlling
interest

 
Working
capital
adjustment
and other

 
As per
IFRS
financials(1)

US$ MILLIONS
 
 
 
 
 
 
 
 
 
Total assets
$
6,542

 
$
6,990

 
$
3,134

 
$
1,049

 
$
(1,083
)
 
$
16,632

 
$
(3,134
)
 
$
11,668

 
$
4,311

 
$
29,477

1.
The above table provides each segment’s assets in the format that management organizes its segments to make operating decisions and assess performance. Each segment is presented on a proportionate basis, taking into account Brookfield Infrastructure’s ownership in operations using consolidation and the equity method whereby our partnership either controls or exercises significant influence over the investment respectively. The above table reconciles Brookfield Infrastructure’s proportionate assets to total assets presented on our partnership’s Consolidated Statements of Financial Position by removing net liabilities contained within investments in associates and joint ventures and reflecting the assets attributable to non-controlling interests, and adjusting for working capital assets which are netted against working capital liabilities.