XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.20.2

INVESTMENT IN ASSOCIATES AND JOINT VENTURES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Interests In Other Entities [Abstract] |
Disclosure of joint ventures [text block] | The following table represents the change in the balance of investments in associates and joint ventures:
US$ MILLIONS | For the six-month period ended June 30, 2020 |  | For the 12 month period ended December 31, 2019
Balance at the beginning of the period | $ | 4,967 |  |  | $ | 4,591 |
Share of earnings for the period | 59 |  |  | 224 |
Foreign currency translation and other | (590 | ) |  | (62 | )
Share of other reserves for the period—OCI | 33 |  |  | 54 |
Distributions | (131 | ) |  | (254 | )
Disposition of interest(1) | — |  |  | (135 | )
Held for sale(2) | (2 | ) |  | (38 | )
Acquisitions(3),(4),(5) | — |  |  | 587 |
Ending Balance(6) | $ | 4,336 |  |  | $ | 4,967 |
1. | In June 2019, Brookfield Infrastructure sold its 40% interest in its European port operation to a third party for $135 million.
2. | 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 was classified as held for sale effective December 31, 2019. During the six-month period ended June 30, 2020, our partnership allocated $2 million of earnings attributable to the operation to held for sale.
3. | 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.
4. | 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.
5. | 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 North American natural gas transmission operation (“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 and governance rights.
6. Investments in associates include a shareholder loan of $500 million receivable from our North American natural gas pipeline.
Disclosure of operating segments [text block] | The following is an analysis of Brookfield Infrastructure’s assets by reportable operating segment.
|  | Total Attributable to Brookfield Infrastructure |  |  |  |  |  |  |  |
AS OF JUNE 30, 2020 US$ MILLIONS |  | 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)
Total assets |  | $ | 5,224 |  |  | $ | 5,780 |  |  | $ | 5,458 |  |  | $ | 2,114 |  |  | $ | (1,111 | ) |  | $ | 17,465 |  |  | $ | (2,762 | ) |  | $ | 28,970 |  |  | $ | 7,649 |  |  | $ | 51,322 |
|  | Total Attributable to Brookfield Infrastructure |  |  |  |  |  |  |  |
AS OF DECEMBER 31, 2019 US$ MILLIONS |  | 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)
Total assets |  | $ | 5,825 |  |  | $ | 6,916 |  |  | $ | 5,589 |  |  | $ | 2,204 |  |  | $ | (1,284 | ) |  | $ | 19,250 |  |  | $ | (2,884 | ) |  | $ | 32,621 |  |  | $ | 7,321 |  |  | $ | 56,308 |
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.
|  | Total attributable to Brookfield Infrastructure |  |  |  |  |  |
FOR THE THREE-MONTH PERIOD ENDED JUNE 30, 2020 US$ MILLIONS |  | Utilities |  | Transport |  | Energy |  | Data Infrastructure |  | Corporate |  | Total |  | Contribution from investments in associates |  | Attributable to non-controlling interest |  | As per IFRS financials(1)
Revenues |  | $ | 248 |  |  | $ | 283 |  |  | $ | 266 |  |  | $ | 104 |  |  | $ | — |  |  | $ | 901 |  |  | $ | (298 | ) |  | $ | 1,343 |  |  | $ | 1,946 |
Costs attributed to revenues |  | (74 | ) |  | (138 | ) |  | (128 | ) |  | (51 | ) |  | — |  |  | (391 | ) |  | 130 |  |  | (802 | ) |  | (1,063 | )
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (72 | ) |  | (72 | ) |  | — |  |  | — |  |  | (72 | )
Adjusted EBITDA |  | 174 |  |  | 145 |  |  | 138 |  |  | 53 |  |  | (72 | ) |  | 438 |  |  | (168 | ) |  | 541 |  |  |
Other (expense) income |  | (10 | ) |  | 9 |  |  | 2 |  |  | 2 |  |  | 40 |  |  | 43 |  |  | (7 | ) |  | (40 | ) |  | (4 | )
Interest expense |  | (34 | ) |  | (46 | ) |  | (34 | ) |  | (12 | ) |  | (22 | ) |  | (148 | ) |  | 46 |  |  | (145 | ) |  | (247 | )
FFO |  | 130 |  |  | 108 |  |  | 106 |  |  | 43 |  |  | (54 | ) |  | 333 |  |  | (129 | ) |  | 356 |  |  |
Depreciation and amortization |  | (42 | ) |  | (76 | ) |  | (63 | ) |  | (41 | ) |  | — |  |  | (222 | ) |  | 92 |  |  | (245 | ) |  | (375 | )
Deferred taxes |  | (15 | ) |  | 5 |  |  | (1 | ) |  | 19 |  |  | (4 | ) |  | 4 |  |  | (12 | ) |  | — |  |  | (8 | )
Mark-to-market on hedging items and other |  | (13 | ) |  | (32 | ) |  | (24 | ) |  | (5 | ) |  | (102 | ) |  | (176 | ) |  | 38 |  |  | (16 | ) |  | (154 | )
Share of earnings from associates |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | — |  |  | 11 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (95 | ) |  | (95 | )
Net income (loss) attributable to partnership(2) |  | $ | 60 |  |  | $ | 5 |  |  | $ | 18 |  |  | $ | 16 |  |  | $ | (160 | ) |  | $ | (61 | ) |  | $ | — |  |  | $ | — |  |  | $ | (61 | )
|  | Total attributable to Brookfield Infrastructure |  |  |  |  |  |
FOR THE THREE-MONTH PERIOD ENDED JUNE 30, 2019 US$ MILLIONS |  | Utilities |  | Transport |  | Energy |  | Data Infrastructure |  | Corporate |  | Total |  | Contribution from investments in associates |  | Attributable to non-controlling interest |  | As per IFRS financials(1)
Revenues |  | $ | 278 |  |  | $ | 386 |  |  | $ | 256 |  |  | $ | 67 |  |  | $ | — |  |  | $ | 987 |  |  | $ | (369 | ) |  | $ | 1,067 |  |  | $ | 1,685 |
Costs attributed to revenues |  | (88 | ) |  | (202 | ) |  | (133 | ) |  | (28 | ) |  | — |  |  | (451 | ) |  | 180 |  |  | (569 | ) |  | (840 | )
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (64 | ) |  | (64 | ) |  | — |  |  | — |  |  | (64 | )
Adjusted EBITDA |  | 190 |  |  | 184 |  |  | 123 |  |  | 39 |  |  | (64 | ) |  | 472 |  |  | (189 | ) |  | 498 |  |  |
Other (expense) income |  | (9 | ) |  | 2 |  |  | 6 |  |  | 1 |  |  | 19 |  |  | 19 |  |  | (1 | ) |  | (15 | ) |  | 3 |
Interest expense |  | (38 | ) |  | (51 | ) |  | (33 | ) |  | (10 | ) |  | (22 | ) |  | (154 | ) |  | 46 |  |  | (133 | ) |  | (241 | )
FFO |  | 143 |  |  | 135 |  |  | 96 |  |  | 30 |  |  | (67 | ) |  | 337 |  |  | (144 | ) |  | 350 |  |  |
Depreciation and amortization |  | (44 | ) |  | (94 | ) |  | (65 | ) |  | (30 | ) |  | (1 | ) |  | (234 | ) |  | 105 |  |  | (194 | ) |  | (323 | )
Deferred taxes |  | (27 | ) |  | 5 |  |  | 3 |  |  | (1 | ) |  | 1 |  |  | (19 | ) |  | 14 |  |  | 6 |  |  | 1 |
Mark-to-market on hedging items and other |  | 44 |  |  | (37 | ) |  | (25 | ) |  | (9 | ) |  | 41 |  |  | 14 |  |  | (9 | ) |  | (6 | ) |  | (1 | )
Share of earnings from associates |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 34 |  |  | — |  |  | 34 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (156 | ) |  | (156 | )
Net income (loss) attributable to partnership(2) |  | $ | 116 |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | (10 | ) |  | $ | (26 | ) |  | $ | 98 |  |  | $ | — |  |  | $ | — |  |  | $ | 98 |
|  | Total attributable to Brookfield Infrastructure |  |  |  |  |  |
FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2020 US$ MILLIONS |  | Utilities |  | Transport |  | Energy |  | Data Infrastructure |  | Corporate |  | Total |  | Contribution from investments in associates |  | Attributable to non-controlling interest |  | As per IFRS financials(1)
Revenues |  | $ | 523 |  |  | $ | 608 |  |  | $ | 543 |  |  | $ | 213 |  |  | $ | — |  |  | $ | 1,887 |  |  | $ | (627 | ) |  | $ | 2,882 |  |  | $ | 4,142 |
Costs attributed to revenues |  | (156 | ) |  | (297 | ) |  | (257 | ) |  | (104 | ) |  | — |  |  | (814 | ) |  | 267 |  |  | (1,755 | ) |  | (2,302 | )
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (133 | ) |  | (133 | ) |  | — |  |  | — |  |  | (133 | )
Adjusted EBITDA |  | 367 |  |  | 311 |  |  | 286 |  |  | 109 |  |  | (133 | ) |  | 940 |  |  | (360 | ) |  | 1,127 |  |  |
Other (expense) income |  | (22 | ) |  | 8 |  |  | 5 |  |  | — |  |  | 59 |  |  | 50 |  |  | (3 | ) |  | (69 | ) |  | (22 | )
Interest expense |  | (69 | ) |  | (91 | ) |  | (70 | ) |  | (24 | ) |  | (45 | ) |  | (299 | ) |  | 88 |  |  | (318 | ) |  | (529 | )
FFO |  | 276 |  |  | 228 |  |  | 221 |  |  | 85 |  |  | (119 | ) |  | 691 |  |  | (275 | ) |  | 740 |  |  |
Depreciation and amortization |  | (87 | ) |  | (166 | ) |  | (127 | ) |  | (89 | ) |  | — |  |  | (469 | ) |  | 203 |  |  | (509 | ) |  | (775 | )
Deferred taxes |  | (54 | ) |  | 13 |  |  | (6 | ) |  | 19 |  |  | (7 | ) |  | (35 | ) |  | (2 | ) |  | (19 | ) |  | (56 | )
Mark-to-market on hedging items and other |  | (23 | ) |  | (98 | ) |  | (49 | ) |  | (23 | ) |  | 64 |  |  | (129 | ) |  | 15 |  |  | (88 | ) |  | (202 | )
Share of earnings from associates |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | 59 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (124 | ) |  | (124 | )
Net income (loss) attributable to partnership(2) |  | $ | 112 |  |  | $ | (23 | ) |  | $ | 39 |  |  | $ | (8 | ) |  | $ | (62 | ) |  | $ | 58 |  |  | $ | — |  |  | $ | — |  |  | $ | 58 |
|  | Total attributable to Brookfield Infrastructure |  |  |  |  |  |
FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2019 US$ MILLIONS |  | Utilities |  | Transport |  | Energy |  | Data Infrastructure |  | Corporate |  | Total |  | Contribution from investments in associates |  | Attributable to non-controlling interest |  | As per IFRS financials(1)
Revenues |  | $ | 547 |  |  | $ | 775 |  |  | $ | 501 |  |  | $ | 129 |  |  | $ | — |  |  | $ | 1,952 |  |  | $ | (737 | ) |  | $ | 2,063 |  |  | $ | 3,278 |
Costs attributed to revenues |  | (176 | ) |  | (402 | ) |  | (251 | ) |  | (54 | ) |  | — |  |  | (883 | ) |  | 357 |  |  | (1,112 | ) |  | (1,638 | )
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (125 | ) |  | (125 | ) |  | — |  |  | — |  |  | (125 | )
Adjusted EBITDA |  | 371 |  |  | 373 |  |  | 250 |  |  | 75 |  |  | (125 | ) |  | 944 |  |  | (380 | ) |  | 951 |  |  |
Other (expense) income |  | (19 | ) |  | 1 |  |  | 14 |  |  | 2 |  |  | 40 |  |  | 38 |  |  | 2 |  |  | (53 | ) |  | (13 | )
Interest expense |  | (72 | ) |  | (100 | ) |  | (61 | ) |  | (19 | ) |  | (42 | ) |  | (294 | ) |  | 87 |  |  | (246 | ) |  | (453 | )
FFO |  | 280 |  |  | 274 |  |  | 203 |  |  | 58 |  |  | (127 | ) |  | 688 |  |  | (291 | ) |  | 652 |  |  |
Depreciation and amortization |  | (89 | ) |  | (185 | ) |  | (124 | ) |  | (55 | ) |  | (1 | ) |  | (454 | ) |  | 203 |  |  | (364 | ) |  | (615 | )
Deferred taxes |  | (40 | ) |  | 11 |  |  | 1 |  |  | 3 |  |  | 4 |  |  | (21 | ) |  | 10 |  |  | — |  |  | (11 | )
Mark-to-market on hedging items and other |  | 33 |  |  | (77 | ) |  | (39 | ) |  | (15 | ) |  | 13 |  |  | (85 | ) |  | 26 |  |  | 3 |  |  | (56 | )
Share of earnings from associates |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 52 |  |  | — |  |  | 52 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (291 | ) |  | (291 | )
Net income (loss) attributable to partnership(2) |  | $ | 184 |  |  | $ | 23 |  |  | $ | 41 |  |  | $ | (9 | ) |  | $ | (111 | ) |  | $ | 128 |  |  | $ | — |  |  | $ | — |  |  | $ | 128 |
1. | 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 joint ventures and reflecting the portion of each line item attributable to non-controlling interests.
2. Includes net income (loss) attributable to non-controlling interests—Redeemable Partnership Units held by Brookfield, non-controlling interests—Exchange LP Units, general partner, limited partners and class A shares of BIPC. The following table represents the carrying value of our partnership’s investments in associates and joint ventures:
| As of
US$ MILLIONS | June 30, 2020 |  | December 31, 2019
Utilities | $ | 211 |  |  | $ | 245 |
Transport | 1,854 |  |  | 2,398 |
Energy | 1,290 |  |  | 1,267 |
Data infrastructure | 949 |  |  | 1,029 |
Corporate | 32 |  |  | 28 |
Ending Balance | $ | 4,336 |  |  | $ | 4,967 |
Disclosure of associates [text block] | The following tables summarize the aggregate balances of investments in associates and joint ventures on a 100% basis:
| As of
US$ MILLIONS | June 30, 2020 |  | December 31, 2019
Financial position: |  |  |
Total assets | $ | 41,245 |  |  | $ | 45,480 |
Total liabilities | (24,418 | ) |  | (25,537 | )
Net assets | $ | 16,827 |  |  | $ | 19,943 |
| For the three-month period ended June 30 |  | For the six-month period ended June 30
US$ MILLIONS | 2020 |  | 2019 |  | 2020 |  | 2019
Financial performance: |  |  |  |  |  |  |
Total revenue | $ | 1,804 |  |  | $ | 1,319 |  |  | $ | 3,591 |  |  | $ | 2,850 |
Total net income for the period | 70 |  |  | 83 |  |  | 219 |  |  | 134 |
Brookfield Infrastructure’s share of net income | $ | 11 |  |  | $ | 34 |  |  | $ | 59 |  |  | $ | 52 |

X
- Definition Interests In Other Entities [Abstract] + References No definition available. + Details
Name: | bip_InterestsInOtherEntitiesAbstract
Namespace Prefix: | bip_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of joint ventures. [Refer: Joint ventures [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_17_b&doctype=Standard -URIDate 2019-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_16_b&doctype=Standard -URIDate 2019-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2019-01-01 -Paragraph B4 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B4_b&doctype=Appendix&subtype=B -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfJointVenturesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of operating segments. [Refer: Operating segments [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2019-01-01 -Paragraph 23 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_23&doctype=Standard -URIDate 2019-03-27 + Details
Name: | ifrs-full_DisclosureOfOperatingSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of associates. [Refer: Associates [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 17 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_17_b&doctype=Standard -URIDate 2019-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2019-01-01 -Paragraph 16 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2019-en-r&anchor=para_16_b&doctype=Standard -URIDate 2019-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInAssociatesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration