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SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2019
Operating Segments [Abstract]  
Summary of financial information by 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(1)
AS AT
DECEMBER 31, 2019
US$ MILLIONS
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure
 
Corporate
 
Brookfield
Infrastructure
 
Total assets
 
$
5,825

 
$
6,916

 
$
5,589

 
$
2,204

 
$
(1,284
)
 
$
19,250

 
$
(2,884
)
 
$
32,621

 
$
7,321

 
$
56,308

 
 
 
Total Attributable to Brookfield Infrastructure
 
 
 
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
Working
capital
adjustment
and other
 
As per
IFRS
financials(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

 
(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.
FOR THE YEAR ENDED
DECEMBER 31, 2019
US$ MILLIONS
 
Total attributable to
Brookfield Infrastructure
 
 
 
 
 
 
 
Contribution
from
investments
in associates
 
Attributable
to non-
controlling
interest
 
As per
IFRS
financials(1)
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure
 
Corporate
 
Total
 
Revenues(2)
 
$
1,125

 
$
1,390

 
$
1,014

 
$
336

 
$
—

 
$
3,865

 
$
(1,424
)
 
$
4,156

 
$
6,597

Costs attributed to revenues
 
(366
)
 
(668
)
 
(500
)
 
(161
)
 
—

 
(1,695
)
 
649

 
(2,349
)
 
(3,395
)
General and administrative costs
 
—

 
—

 
—

 
—

 
(279
)
 
(279
)
 
—

 
—

 
(279
)
Adjusted EBITDA
 
759

 
722

 
514

 
175

 
(279
)
 
1,891

 
(775
)
 
1,807

 


Other (expense) income
 
(41
)
 
1

 
24

 
3

 
91

 
78

 
11

 
(117
)
 
(28
)
Interest expense
 
(141
)
 
(193
)
 
(126
)
 
(42
)
 
(83
)
 
(585
)
 
173

 
(492
)
 
(904
)
FFO
 
577

 
530

 
412

 
136

 
(271
)
 
1,384

 
(591
)
 
1,198

 


Depreciation and amortization
 
(179
)
 
(355
)
 
(231
)
 
(129
)
 
(1
)
 
(895
)
 
399

 
(718
)
 
(1,214
)
Deferred taxes
 
(68
)
 
31

 
(34
)
 
10

 
(16
)
 
(77
)
 
52

 
(3
)
 
(28
)
Mark-to-market on hedging items and other
 
30

 
(160
)
 
30

 
(30
)
 
(49
)
 
(179
)
 
(84
)
 
(60
)
 
(323
)
Gain on sale of associate. net of tax
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Share of earnings from associates
 
—

 
—

 
—

 
—

 
—

 
—

 
224

 
—

 
224

Net income attributable to non-controlling interest
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(417
)
 
(417
)
Net income (loss) attributable to partnership(3)
 
$
360

 
$
46

 
$
177

 
$
(13
)
 
$
(337
)
 
$
233

 
$
—

 
$
—

 
$
233

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(1)
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure
 
Corporate
 
Total
 
Revenues(2)
 
$
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(3)
 
$
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(1)
 
Utilities
 
Transport
 
Energy
 
Data
Infrastructure
 
Corporate
 
Total
 
Revenues(2)
 
$
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 (expense) income
 
(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(3)
 
$
313

 
$
139

 
$
32

 
$
11

 
$
(370
)
 
$
125

 
$
—

 
$
—

 
$
125

 
(1)
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.
(2)
Revenues on a consolidated basis were $2,990 million (2018: $2,563 million, 2017: $1,785 million) from our utilities segment, $1,309 million (2018: $1,322 million, 2017: $1,290 million) from our transport segment, $1,982 million (2018: $767 million, 2017: $460 million) from our energy segment and $316 million (2018: $nil, 2017: $nil) from our data infrastructure segment.
(3)
Includes net income (loss) attributable to non-controlling interests—Redeemable Partnership Units held by Brookfield, non-controlling interests—Exchange LP Units, general partner and limited partners.
Summary of financial information by geographic regions
Revenues from external customers
Substantially all of our partnership’s revenues are recognized over time as services are rendered. The following table disaggregates revenues by geographical region.
US$ MILLIONS
 
2019
 
2018
 
2017
Brazil
 
$
1,142

 
$
1,112

 
$
938

Colombia
 
1,054

 
693

 
161

Australia
 
1,031

 
1,104

 
1,093

Canada
 
976

 
379

 
193

United States
 
921

 
293

 
183

United Kingdom
 
688

 
653

 
565

India
 
399

 
60

 
57

Chile
 
163

 
168

 
153

Peru
 
107

 
92

 
103

Other
 
116

 
98

 
89

 
 
$
6,597

 
$
4,652

 
$
3,535

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, 2019, revenue generated from this customer within the utilities segment was $1,142 million (2018: $1,112 million).
Non-current assets
US$ MILLIONS
 
2019
 
2018
United States
 
$
13,671

 
$
4,569

Canada
 
9,243

 
6,867

United Kingdom
 
7,196

 
4,708

Brazil
 
7,103

 
6,829

Australia
 
5,488

 
5,304

India
 
3,150

 
982

Peru
 
1,337

 
1,308

Colombia
 
1,166

 
1,857

Chile
 
821

 
940

Europe
 
764

 
863

Other
 
528

 
77

 
 
$
50,467

 
$
34,304