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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2020
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, 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.
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
 
 
 
 
 
 
 
 
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.