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INVESTMENT IN ASSOCIATES AND JOINT VENTURES (Tables)

12 Months Ended

Dec. 31, 2019

Interests In Other Entities [Abstract]

Disclosure of ownership interest, voting interest, and carrying value of joint ventures

The following table represents the change in the balance of investments in associates and joint ventures:

US$ MILLIONS		2019				2018
Balance at beginning of year		$	4,591			$	5,572
Share of earnings for the year(1)		224				(13		)
Foreign currency translation and other		(62		)		(296		)
Share of other comprehensive income		54				260
Distributions		(254		)		(59		)
Disposition of interest(1),(2)		(135		)		(951		)
Held for sale(3)		(38		)		—
Acquisitions(4),(5),(6)		587				78
Balance at end of year(7)		$	4,967			$	4,591

\

(1) In March 2018, Brookfield Infrastructure sold its ownership in ETC Transmission Holdings, S.L. for $1.3 billion. On disposition, Brookfield Infrastructure recognized a gain on sale of $338 million ($209 million, net of taxes) presented within gain on sale of associate on the Consolidated Statements of Operating Results. In association with the gain, $35 million of accumulated other comprehensive losses were reclassified to share of losses from associates and joint ventures on the Consolidated Statements of Operating Results. Please refer to Note 5 Disposition of Businesses for additional details.

(2) In June 2019, Brookfield Infrastructure sold its 40% interest in its European port operation to a third party for $135 million.

(3) On December 19, 2019, Brookfield Infrastructure agreed to sell its 11% interest in a Texas electricity transmission operation for total consideration of approximately $60 million. The investment has been classified as held for sale as of December 31, 2019. Refer to Note 6 Assets and Liabilities Classified as Held for Sale.

(4) In March 2019, Brookfield Infrastructure, alongside its institutional partners, acquired an effective 12% interest in a Brazilian data center operation, Ascenty Participacoes S.A (“Ascenty”), for approximately $190 million. Brookfield maintains 50% of the voting rights of Ascenty in a joint venture with Digital Realty Trust Inc. Brookfield Infrastructure has joint control through its position in the business. Accordingly, our partnership equity accounts for the entity. Subsequent to the initial acquisition, Brookfield Infrastructure has made additional injections into the business to fund growth capital expenditures.

(5) In July 2019, Brookfield Infrastructure, alongside its institutional partners, acquired an effective 12% interest in a New Zealand integrated data provider, Vodafone New Zealand (“VNZ”), for approximately $170 million. Brookfield maintains 50% of the voting rights of VNZ in a joint venture with Infratil Limited Brookfield Infrastructure has joint control through its position in the business. Accordingly, our partnership equity accounts for the entity.

(6) Brookfield Infrastructure acquired a 13% interest in Ramones II Norte (“Norte”) on October 7, 2019 and an 11% interest in Ramones II Sur (“Sur”) on October 21, 2019, collectively the regulated natural gas transmission business in Mexico (“Los Ramones”), for approximately $140 million. Brookfield maintains 50% of the voting rights in Norte and 45% of the voting rights in Sur. Brookfield Infrastructure has joint control of Los Ramones through its ownership interest and governance rights.

(7) Investments in associates include a shareholder loan of $500 million receivable from our North American natural gas transmission operation.

Disclosure of ownership interest, voting interest, and carrying value of associates

The following table represents the change in the balance of investments in associates and joint ventures:

US$ MILLIONS		2019				2018
Balance at beginning of year		$	4,591			$	5,572
Share of earnings for the year(1)		224				(13		)
Foreign currency translation and other		(62		)		(296		)
Share of other comprehensive income		54				260
Distributions		(254		)		(59		)
Disposition of interest(1),(2)		(135		)		(951		)
Held for sale(3)		(38		)		—
Acquisitions(4),(5),(6)		587				78
Balance at end of year(7)		$	4,967			$	4,591

\

(1) In March 2018, Brookfield Infrastructure sold its ownership in ETC Transmission Holdings, S.L. for $1.3 billion. On disposition, Brookfield Infrastructure recognized a gain on sale of $338 million ($209 million, net of taxes) presented within gain on sale of associate on the Consolidated Statements of Operating Results. In association with the gain, $35 million of accumulated other comprehensive losses were reclassified to share of losses from associates and joint ventures on the Consolidated Statements of Operating Results. Please refer to Note 5 Disposition of Businesses for additional details.

(2) In June 2019, Brookfield Infrastructure sold its 40% interest in its European port operation to a third party for $135 million.

(3) On December 19, 2019, Brookfield Infrastructure agreed to sell its 11% interest in a Texas electricity transmission operation for total consideration of approximately $60 million. The investment has been classified as held for sale as of December 31, 2019. Refer to Note 6 Assets and Liabilities Classified as Held for Sale.

(4) In March 2019, Brookfield Infrastructure, alongside its institutional partners, acquired an effective 12% interest in a Brazilian data center operation, Ascenty Participacoes S.A (“Ascenty”), for approximately $190 million. Brookfield maintains 50% of the voting rights of Ascenty in a joint venture with Digital Realty Trust Inc. Brookfield Infrastructure has joint control through its position in the business. Accordingly, our partnership equity accounts for the entity. Subsequent to the initial acquisition, Brookfield Infrastructure has made additional injections into the business to fund growth capital expenditures.

(5) In July 2019, Brookfield Infrastructure, alongside its institutional partners, acquired an effective 12% interest in a New Zealand integrated data provider, Vodafone New Zealand (“VNZ”), for approximately $170 million. Brookfield maintains 50% of the voting rights of VNZ in a joint venture with Infratil Limited Brookfield Infrastructure has joint control through its position in the business. Accordingly, our partnership equity accounts for the entity.

(6) Brookfield Infrastructure acquired a 13% interest in Ramones II Norte (“Norte”) on October 7, 2019 and an 11% interest in Ramones II Sur (“Sur”) on October 21, 2019, collectively the regulated natural gas transmission business in Mexico (“Los Ramones”), for approximately $140 million. Brookfield maintains 50% of the voting rights in Norte and 45% of the voting rights in Sur. Brookfield Infrastructure has joint control of Los Ramones through its ownership interest and governance rights.

(7) Investments in associates include a shareholder loan of $500 million receivable from our North American natural gas transmission operation.

Disclosure of interests in associates

ets and liabilities of Brookfield Infrastructure’s investments in associates and joint ventures:

				As at December 31, 2019
				Total																												Attributable to
US$ MILLIONS		Ownership and Voting Interest		Current Assets				Non- Current Assets				Total Assets				Current Liabilities				Non- Current Liabilities				Total Liabilities				Total Net Assets				Other Ownership Interests				Partnership’s Share
Utilities		11-20%		$	870			$	6,499			$	7,369			$	686			$	4,152			$	4,838			$	2,531			$	2,286			$	245
Transport		11-50%		1,233				18,327				19,560				1,948				8,444				10,392				9,168				6,770				2,398
Energy		20-50%		166				5,696				5,862				275				4,013				4,288				1,574				307				1,267
Data infrastructure		12-29%		912				11,636				12,548				1,042				4,908				5,950				6,598				5,569				1,029
Corporate		25-50%		8				133				141				13				56				69				72				44				28
Total				$	3,189			$	42,291			$	45,480			$	3,964			$	21,573			$	25,537			$	19,943			$	14,976			$	4,967

				As at December 31, 2018
				Total																												Attributable to
US$ MILLIONS		Ownership and Voting Interest		Current Assets				Non- Current Assets				Total Assets				Current Liabilities				Non- Current Liabilities				Total Liabilities				Total Net Assets				Other Ownership Interests				Partnership’s Share
Utilities		11-20%		$	289			$	2,227			$	2,516			$	325			$	1,391			$	1,716			$	800			$	708			$	92
Transport		11-50%		1,520				15,892				17,412				1,876				6,447				8,323				9,089				6,592				2,497
Energy		20-50%		178				5,307				5,485				162				2,875				3,037				2,448				1,265				1,183
Data infrastructure		21%		447				6,692				7,139				438				2,902				3,340				3,799				3,089				710
Corporate		25-50%		105				386				491				99				55				154				337				228				109
Total				$	2,539			$	30,504			$	33,043			$	2,900			$	13,670			$	16,570			$	16,473			$	11,882			$	4,591

The following tables present the gross amounts of revenue, net income, other comprehensive income from Brookfield Infrastructure’s investments in associates and joint ventures for the years ended December 31, 2019, 2018, and 2017:

		Year ended December 31, 2019
		Total																Attributable to
US$ MILLIONS		Revenue				Net Income				OCI				Total Comprehensive Income				Other Ownership Interests				Partnership’s Share
Utilities		$	1,046			$	354			$	26			$	380			$	323			$	57
Transport		3,351				22				364				386				384				2
Energy		734				351				(54		)		297				113				184
Data infrastructure		1,447				(38		)		57				19				28				(9		)
Corporate		17				(38		)		(156		)		(194		)		(184		)		(10		)
Total		$	6,595			$	651			$	237			$	888			$	664			$	224

		Year ended December 31, 2018
		Total																Attributable to
US$ MILLIONS		Revenue				Net Income				OCI				Total Comprehensive Income				Other Ownership Interests				Partnership’s Share
Utilities		$	541			$	92			$	110			$	202			$	146			$	56
Transport		3,747				(74		)		(856		)		(930		)		(597		)		(333		)
Energy		739				91				8				99				53				46
Data infrastructure		804				64				244				308				234				74
Corporate		41				(132		)		356				224				169				55
Total		$	5,872			$	41			$	(138	)		$	(97	)		$	5			$	(102	)

		Year ended December 31, 2017
		Total																Attributable to
US$ MILLIONS		Revenue				Net Income				OCI				Total Comprehensive Income				Other Ownership Interests				Partnership’s Share
Utilities		$	1,164			$	101			$	779			$	880			$	642			$	238
Transport		3,796				213				718				931				744				187
Energy		724				22				(37		)		(15		)		(22		)		7
Data infrastructure		783				58				435				493				409				84
Corporate		2				(16		)		(145		)		(161		)		(108		)		(53		)
Total		$	6,469			$	378			$	1,750			$	2,128			$	1,665			$	463

As at December 31, 2019 and 2018, none of the associates or joint ventures have quoted prices in an active market.

The following tables present the cash flow activities of Brookfield Infrastructure’s investments in associates and joint ventures for the years ended December 31, 2019, 2018, and 2017:

		Year ended December 31, 2019
		Total																Attributable to
US$ MILLIONS		Operating				Investing				Financing				Total Cash Flows				Other Ownership Interests				Partnership’s Share
Utilities		$	108			$	(1,109	)		$	1,548			$	547			$	471			$	76
Transport		692				(852		)		11				(149		)		(76		)		(73		)
Energy		357				(267		)		(95		)		(5		)		(3		)		(2		)
Data infrastructure		531				(2,707		)		2,201				25				30				(5		)
Corporate		—				—				—				—				—				—
Total		$	1,688			$	(4,935	)		$	3,665			$	418			$	422			$	(4	)

		Year ended December 31, 2018
		Total																Attributable to
US$ MILLIONS		Operating				Investing				Financing				Total Cash Flows				Other Ownership Interests				Partnership’s Share
Utilities		$	380			$	6,189			$	(6,716	)		$	(147	)		$	(106	)		$	(41	)
Transport		776				(1,018		)		369				127				77				50
Energy		320				(288		)		(46		)		(14		)		(10		)		(4		)
Data infrastructure		323				(305		)		19				37				29				8
Corporate		7				(7		)		—				—				—				—
Total		$	1,806			$	4,571			$	(6,374	)		$	3			$	(10	)		$	13

		Year ended December 31, 2017
		Total																Attributable to
US$ MILLIONS		Operating				Investing				Financing				Total Cash Flows				Other Ownership Interests				Partnership’s Share
Utilities		$	433			$	(803	)		$	494			$	124			$	102			$	22
Transport		1,000				(1,673		)		1,121				448				370				78
Energy		261				(171		)		(77		)		13				6				7
Data infrastructure		338				(226		)		(57		)		55				44				11
Corporate		1				(10		)		4				(5		)		(3		)		(2		)
Total		$	2,033			$	(2,883	)		$	1,485			$	635			$	519			$	116

Disclosure of interests in joint ventures

ets and liabilities of Brookfield Infrastructure’s investments in associates and joint ventures:

				As at December 31, 2019
				Total																												Attributable to
US$ MILLIONS		Ownership and Voting Interest		Current Assets				Non- Current Assets				Total Assets				Current Liabilities				Non- Current Liabilities				Total Liabilities				Total Net Assets				Other Ownership Interests				Partnership’s Share
Utilities		11-20%		$	870			$	6,499			$	7,369			$	686			$	4,152			$	4,838			$	2,531			$	2,286			$	245
Transport		11-50%		1,233				18,327				19,560				1,948				8,444				10,392				9,168				6,770				2,398
Energy		20-50%		166				5,696				5,862				275				4,013				4,288				1,574				307				1,267
Data infrastructure		12-29%		912				11,636				12,548				1,042				4,908				5,950				6,598				5,569				1,029
Corporate		25-50%		8				133				141				13				56				69				72				44				28
Total				$	3,189			$	42,291			$	45,480			$	3,964			$	21,573			$	25,537			$	19,943			$	14,976			$	4,967

				As at December 31, 2018
				Total																												Attributable to
US$ MILLIONS		Ownership and Voting Interest		Current Assets				Non- Current Assets				Total Assets				Current Liabilities				Non- Current Liabilities				Total Liabilities				Total Net Assets				Other Ownership Interests				Partnership’s Share
Utilities		11-20%		$	289			$	2,227			$	2,516			$	325			$	1,391			$	1,716			$	800			$	708			$	92
Transport		11-50%		1,520				15,892				17,412				1,876				6,447				8,323				9,089				6,592				2,497
Energy		20-50%		178				5,307				5,485				162				2,875				3,037				2,448				1,265				1,183
Data infrastructure		21%		447				6,692				7,139				438				2,902				3,340				3,799				3,089				710
Corporate		25-50%		105				386				491				99				55				154				337				228				109
Total				$	2,539			$	30,504			$	33,043			$	2,900			$	13,670			$	16,570			$	16,473			$	11,882			$	4,591

The following tables present the gross amounts of revenue, net income, other comprehensive income from Brookfield Infrastructure’s investments in associates and joint ventures for the years ended December 31, 2019, 2018, and 2017:

		Year ended December 31, 2019
		Total																Attributable to
US$ MILLIONS		Revenue				Net Income				OCI				Total Comprehensive Income				Other Ownership Interests				Partnership’s Share
Utilities		$	1,046			$	354			$	26			$	380			$	323			$	57
Transport		3,351				22				364				386				384				2
Energy		734				351				(54		)		297				113				184
Data infrastructure		1,447				(38		)		57				19				28				(9		)
Corporate		17				(38		)		(156		)		(194		)		(184		)		(10		)
Total		$	6,595			$	651			$	237			$	888			$	664			$	224

		Year ended December 31, 2018
		Total																Attributable to
US$ MILLIONS		Revenue				Net Income				OCI				Total Comprehensive Income				Other Ownership Interests				Partnership’s Share
Utilities		$	541			$	92			$	110			$	202			$	146			$	56
Transport		3,747				(74		)		(856		)		(930		)		(597		)		(333		)
Energy		739				91				8				99				53				46
Data infrastructure		804				64				244				308				234				74
Corporate		41				(132		)		356				224				169				55
Total		$	5,872			$	41			$	(138	)		$	(97	)		$	5			$	(102	)

		Year ended December 31, 2017
		Total																Attributable to
US$ MILLIONS		Revenue				Net Income				OCI				Total Comprehensive Income				Other Ownership Interests				Partnership’s Share
Utilities		$	1,164			$	101			$	779			$	880			$	642			$	238
Transport		3,796				213				718				931				744				187
Energy		724				22				(37		)		(15		)		(22		)		7
Data infrastructure		783				58				435				493				409				84
Corporate		2				(16		)		(145		)		(161		)		(108		)		(53		)
Total		$	6,469			$	378			$	1,750			$	2,128			$	1,665			$	463

As at December 31, 2019 and 2018, none of the associates or joint ventures have quoted prices in an active market.

The following tables present the cash flow activities of Brookfield Infrastructure’s investments in associates and joint ventures for the years ended December 31, 2019, 2018, and 2017:

		Year ended December 31, 2019
		Total																Attributable to
US$ MILLIONS		Operating				Investing				Financing				Total Cash Flows				Other Ownership Interests				Partnership’s Share
Utilities		$	108			$	(1,109	)		$	1,548			$	547			$	471			$	76
Transport		692				(852		)		11				(149		)		(76		)		(73		)
Energy		357				(267		)		(95		)		(5		)		(3		)		(2		)
Data infrastructure		531				(2,707		)		2,201				25				30				(5		)
Corporate		—				—				—				—				—				—
Total		$	1,688			$	(4,935	)		$	3,665			$	418			$	422			$	(4	)

		Year ended December 31, 2018
		Total																Attributable to
US$ MILLIONS		Operating				Investing				Financing				Total Cash Flows				Other Ownership Interests				Partnership’s Share
Utilities		$	380			$	6,189			$	(6,716	)		$	(147	)		$	(106	)		$	(41	)
Transport		776				(1,018		)		369				127				77				50
Energy		320				(288		)		(46		)		(14		)		(10		)		(4		)
Data infrastructure		323				(305		)		19				37				29				8
Corporate		7				(7		)		—				—				—				—
Total		$	1,806			$	4,571			$	(6,374	)		$	3			$	(10	)		$	13

		Year ended December 31, 2017
		Total																Attributable to
US$ MILLIONS		Operating				Investing				Financing				Total Cash Flows				Other Ownership Interests				Partnership’s Share
Utilities		$	433			$	(803	)		$	494			$	124			$	102			$	22
Transport		1,000				(1,673		)		1,121				448				370				78
Energy		261				(171		)		(77		)		13				6				7
Data infrastructure		338				(226		)		(57		)		55				44				11
Corporate		1				(10		)		4				(5		)		(3		)		(2		)
Total		$	2,033			$	(2,883	)		$	1,485			$	635			$	519			$	116

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-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B4
-Subparagraph d
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B4_d&doctype=Appendix&subtype=B
-URIDate 2019-03-27

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