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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 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 adjusted 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.
FOR THE YEAR ENDED
DECEMBER 31, 2018
US$ MILLIONS
 
Total attributable to
Brookfield Infrastructure
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
As per
IFRS
financials(2)
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure(1)
 
Corporate
 
Total
 
Revenues(3)
 
$
1,055

 
$
1,612

 
$
668

 
$
170

 
$
—

 
$
3,505

 
$
(1,524
)
 
$
2,671

 
$
4,652

Costs attributed to revenues
 
(322
)
 
(930
)
 
(340
)
 
(77
)
 
—

 
(1,669
)
 
833

 
(1,372
)
 
(2,208
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(223
)
 
(223
)
 
—

 
—

 
(223
)
Adjusted EBITDA
 
733

 
682

 
328

 
93

 
(223
)
 
1,613

 
(691
)
 
1,299

 


Other (expense) income
 
(30
)
 
2

 
22

 
(4
)
 
72

 
62

 
11

 
(107
)
 
(34
)
Interest expense
 
(127
)
 
(166
)
 
(81
)
 
(12
)
 
(58
)
 
(444
)
 
134

 
(245
)
 
(555
)
FFO
 
576

 
518

 
269

 
77

 
(209
)
 
1,231

 
(546
)
 
947

 


Depreciation and amortization
 
(187
)
 
(345
)
 
(154
)
 
(72
)
 
—

 
(758
)
 
370

 
(413
)
 
(801
)
Deferred taxes
 
(49
)
 
47

 
(3
)
 
7

 
10

 
12

 
(44
)
 
(14
)
 
(46
)
Mark-to-market on hedging items and other
 
(82
)
 
(208
)
 
(73
)
 
(6
)
 
85

 
(284
)
 
233

 
(124
)
 
(175
)
Gain on sale of associate. net of tax
 
—

 
—

 
—

 
—

 
209

 
209

 
—

 
—

 
209

Share of losses from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
(13
)
 
—

 
(13
)
Net income attributable to non-controlling interest
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(396
)
 
(396
)
Net income attributable to partnership(4)
 
$
258

 
$
12

 
$
39

 
$
6

 
$
95

 
$
410

 
$
—

 
$
—

 
$
410

FOR THE YEAR ENDED
DECEMBER 31, 2017
US$ MILLIONS
 
Total attributable to
Brookfield Infrastructure
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
As per
IFRS
financials(2)
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure(1)
 
Corporate
 
Total
 
Revenues(3)
 
$
988

 
$
1,589

 
$
559

 
$
165

 
$
—

 
$
3,301

 
$
(1,624
)
 
$
1,858

 
$
3,535

Costs attributed to revenues
 
(250
)
 
(895
)
 
(278
)
 
(75
)
 
—

 
(1,498
)
 
861

 
(872
)
 
(1,509
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(239
)
 
(239
)
 
—

 
—

 
(239
)
Adjusted EBITDA
 
738

 
694

 
281

 
90

 
(239
)
 
1,564

 
(763
)
 
986

 


Other income (expense)
 
(14
)
 
(4
)
 
15

 
(2
)
 
45

 
40

 
7

 
(108
)
 
(61
)
Interest expense
 
(114
)
 
(158
)
 
(87
)
 
(12
)
 
(63
)
 
(434
)
 
172

 
(166
)
 
(428
)
FFO
 
610

 
532

 
209

 
76

 
(257
)
 
1,170

 
(584
)
 
712

 


Depreciation and amortization
 
(186
)
 
(312
)
 
(151
)
 
(77
)
 
—

 
(726
)
 
382

 
(327
)
 
(671
)
Deferred taxes
 
(52
)
 
(1
)
 
11

 
21

 
14

 
(7
)
 
(22
)
 
(38
)
 
(67
)
Mark-to-market on hedging items and other
 
(59
)
 
(80
)
 
(37
)
 
(9
)
 
(127
)
 
(312
)
 
106

 
102

 
(104
)
Share of earnings from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
118

 
—

 
118

Net income attributable to non-controlling interest
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(449
)
 
(449
)
Net income (loss) attributable to partnership(4)
 
$
313

 
$
139

 
$
32

 
$
11

 
$
(370
)
 
$
125

 
$
—

 
$
—

 
$
125

FOR THE YEAR ENDED
DECEMBER 31, 2016
US$ MILLIONS
 
Total attributable to
Brookfield Infrastructure
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
As per
IFRS
financials(2)
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure(1)
 
Corporate
 
Total
 
Revenues(3)
 
684

 
1,247

 
496

 
163

 
—

 
2,590

 
(1,311
)
 
836

 
2,115

Costs attributed to revenues
 
(160
)
 
(650
)
 
(220
)
 
(72
)
 
—

 
(1,102
)
 
651

 
(612
)
 
(1,063
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(166
)
 
(166
)
 
—

 
—

 
(166
)
Adjusted EBITDA
 
524

 
597

 
276

 
91

 
(166
)
 
1,322

 
(660
)
 
224

 


Other income (expense)
 
5

 
(17
)
 
8

 
(2
)
 
84

 
78

 
16

 
1

 
95

Interest expense
 
(130
)
 
(157
)
 
(109
)
 
(12
)
 
(48
)
 
(456
)
 
190

 
(126
)
 
(392
)
FFO
 
399

 
423

 
175

 
77

 
(130
)
 
944

 
(454
)
 
99

 


Depreciation and amortization
 
(154
)
 
(253
)
 
(128
)
 
(74
)
 
—

 
(609
)
 
328

 
(166
)
 
(447
)
Deferred taxes
 
5

 
26

 
(38
)
 
29

 
(17
)
 
5

 
9

 
4

 
18

Mark-to-market on hedging items and other
 
(88
)
 
10

 
81

 
(5
)
 
149

 
147

 
(131
)
 
104

 
120

Share of earnings from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
248

 
—

 
248

Net income attributable to non-controlling interest
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(41
)
 
(41
)
Net income attributable to partnership(4)
 
162

 
206

 
90

 
27

 
2

 
487

 
—

 
—

 
487

 
(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 reporting 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)
Revenues on a consolidated basis were $2,563 million (2017: $1,785 million, 2016: $825 million) from our utilities segment, $1,322 million (2017: $1,290 million, 2016: $892 million) from our transport segment and $767 million (2017: $460 million, 2016: $398 million) from our energy segment.
(4)
Includes net income (loss) attributable to non-controlling interests—Redeemable Partnership Units held by Brookfield, non-controlling interests—Exchange LP Units, 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:
 
 
Total Attributable to Brookfield Infrastructure
 
 
 
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
Working
capital
adjustment
and other
 
As per IFRS financials on F-5(1)
AS AT
DECEMBER 31, 2018
US$ MILLIONS
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure
 
Corporate
 
Brookfield
Infrastructure
 
Total assets
 
$
4,864

 
$
6,424

 
$
4,722

 
$
1,446

 
$
(929
)
 
$
16,527

 
$
(2,350
)
 
$
17,545

 
$
4,858

 
$
36,580

 
 
 
Total Attributable to Brookfield Infrastructure
 
 
 
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
Working
capital
adjustment
and other
 
As per
IFRS
financials
on F-5(1)
AS AT
DECEMBER 31, 2017
US$ MILLIONS
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure
 
Corporate
 
Brookfield
Infrastructure
 
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 reporting 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.
Geographic Information
Revenues from external customers
Substantially all of our partnership’s revenues are recognized over time as services are rendered. The following table disaggregates revenues by geographical region.
US$ MILLIONS
 
2018
 
2017
 
2016
Brazil
 
$
1,112

 
$
938

 
$
—

Australia
 
1,104

 
1,093

 
793

Colombia
 
693

 
161

 
150

United Kingdom
 
653

 
565

 
566

Canada
 
379

 
193

 
163

United States of America
 
293

 
183

 
154

Chile
 
168

 
153

 
127

Peru
 
92

 
103

 
97

India
 
60

 
57

 
39

Other
 
98

 
89

 
26

 
 
$
4,652

 
$
3,535

 
$
2,115

Brookfield Infrastructure’s customer base is comprised predominantly of investment grade companies. Our revenues are well diversified by region and counterparty with only one customer that makes up greater than 10% of our partnership’s consolidated revenues. For the year ended December 31, 2018, revenue generated from this customer within the utilities segment was $1,112 million (2017: $938 million).
Non-current assets
US$ MILLIONS
 
2018
 
2017
Canada
 
$
6,867

 
$
1,468

Brazil
 
6,829

 
8,184

Australia
 
5,304

 
5,770

United Kingdom
 
4,708

 
4,431

United States of America
 
4,569

 
2,818

Colombia
 
1,857

 
764

Peru
 
1,308

 
1,356

India
 
982

 
256

Europe
 
863

 
836

Chile
 
940

 
2,045

Other
 
77

 
37

 
 
$
34,304

 
$
27,965