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INVESTMENT IN ASSOCIATES AND JOINT VENTURES (Tables)

12 Months Ended

Dec. 31, 2020

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						2020						2019
Balance at beginning of year						$	4,967					$	4,591
Share of earnings for the year						131						224
Foreign currency translation and other						(245)						(62)
Share of other comprehensive income						7						54
Distributions						(167)						(254)
Disposition of interest(1),(2)						—						(135)
Held for sale(2)						—						(38)
Change in basis of accounting(3)						466						—
Acquisitions(4),(5),(6),(7)						369						587
Balance at end of year(8)						$	5,528					$	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)In July 2020, Brookfield Infrastructure sold its 11% interest in its Texas electricity transmission operation for total consideration, net of tax, of approximately $60 million. On disposition, Brookfield Infrastructure recognized a gain on sale of approximately $20 million. The investment was classified as held for sale effective December 31, 2019.

(3)On December 7, 2020, our partnership completed the partial sale of an effective 22% interest in our Australian export terminal. Our 49% retained interest was remeasured using the initial public offering price of $466 million. Based on our ownership interest and governance rights retained, our partnership equity accounts for the entity. Refer to Note 5, Disposition of Businesses, for further details.

(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)In September 2020, Brookfield Infrastructure, acquired an effective 6% interest in a U.S. LNG export terminal (“Sabine Pass”), Cheniere Energy Partners, L.P. for $369 million. Brookfield maintains a co-controlling interest in a joint venture with Blackstone Infrastructure Partners, which holds an approximate 41% interest in Sabine Pass. Based on our ownership interest and governance rights retained, our partnership equity accounts for the entity.

(8)The current and comparative period include a shareholder loan of $500 million receivable from our U.S. gas pipeline.

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						2020						2019
Balance at beginning of year						$	4,967					$	4,591
Share of earnings for the year						131						224
Foreign currency translation and other						(245)						(62)
Share of other comprehensive income						7						54
Distributions						(167)						(254)
Disposition of interest(1),(2)						—						(135)
Held for sale(2)						—						(38)
Change in basis of accounting(3)						466						—
Acquisitions(4),(5),(6),(7)						369						587
Balance at end of year(8)						$	5,528					$	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)In July 2020, Brookfield Infrastructure sold its 11% interest in its Texas electricity transmission operation for total consideration, net of tax, of approximately $60 million. On disposition, Brookfield Infrastructure recognized a gain on sale of approximately $20 million. The investment was classified as held for sale effective December 31, 2019.

(3)On December 7, 2020, our partnership completed the partial sale of an effective 22% interest in our Australian export terminal. Our 49% retained interest was remeasured using the initial public offering price of $466 million. Based on our ownership interest and governance rights retained, our partnership equity accounts for the entity. Refer to Note 5, Disposition of Businesses, for further details.

(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)In September 2020, Brookfield Infrastructure, acquired an effective 6% interest in a U.S. LNG export terminal (“Sabine Pass”), Cheniere Energy Partners, L.P. for $369 million. Brookfield maintains a co-controlling interest in a joint venture with Blackstone Infrastructure Partners, which holds an approximate 41% interest in Sabine Pass. Based on our ownership interest and governance rights retained, our partnership equity accounts for the entity.

(8)The current and comparative period include a shareholder loan of $500 million receivable from our U.S. gas pipeline.

Disclosure of interests in associates

The following tables present the gross assets and liabilities of Brookfield Infrastructure’s investments in associates and joint ventures:

												As at December 31, 2020
												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%						$	646					$	6,142					$	6,788					$	487					$	4,238					$	4,725					$	2,063					$	1,810					$	253
Transport						6-50%						1,266						25,762						27,028						1,959						9,836						11,795						15,233						12,474						2,759
Midstream(1)						20-50%						173						6,392						6,565						249						4,033						4,282						2,283						911						1,372
Data						12-21%						841						13,308						14,149						1,263						6,081						7,344						6,805						5,672						1,133
Corporate						25-50%						22						121						143						14						56						70						73						62						11
Total												$	2,948					$	51,725					$	54,673					$	3,972					$	24,244					$	28,216					$	26,457					$	20,929					$	5,528

(1)The partnership’s share of total net assets include a shareholder loan of $500 million receivable from our U.S. gas pipeline.

												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
Midstream(1)						20-50%						166						5,696						5,862						275						4,013						4,288						1,574						307						1,267
Data						12-21%						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

(1)The partnership’s share of total net assets include a shareholder loan of $500 million receivable from our U.S. gas pipeline.

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, 2020, 2019, and 2018:

						Year ended December 31, 2020
						Total																														Net Income Attributable to the Partnership
US$ MILLIONS						Revenue						Net Income						OCI						Total Comprehensive Income
Utilities						$	1,715					$	364					$	(205)					$	159											$	50
Transport						4,161						171						(1,419)						(1,248)												(101)
Midstream						767						236						—						236												136
Data						2,245						293						374						667												45
Corporate						9						(15)						(245)						(260)												1
Total						$	8,897					$	1,049					$	(1,495)					$	(446)											$	131

						Year ended December 31, 2019
						Total																														Net Income Attributable to the Partnership
US$ MILLIONS						Revenue						Net Income						OCI						Total Comprehensive Income
Utilities						$	1,046					$	354					$	26					$	380											$	57
Transport						3,351						22						364						386												2
Midstream						734						351						(54)						297												184
Data						1,447						(38)						57						19												(9)
Corporate						17						(38)						(156)						(194)												(10)
Total						$	6,595					$	651					$	237					$	888											$	224

						Year ended December 31, 2018
						Total																														Net Income Attributable to the Partnership
US$ MILLIONS						Revenue						Net Income						OCI						Total Comprehensive Income
Utilities						$	541					$	92					$	110					$	202											$	56
Transport						3,747						(74)						(856)						(930)												(333)
Midstream						739						91						8						99												46
Data						804						64						244						308												74
Corporate						41						(132)						356						224												55
Total						$	5,872					$	41					$	(138)					$	(97)											$	(102)

The following tables present the cash flow activities of Brookfield Infrastructure’s investments in associates and joint ventures for the years ended December 31, 2020, 2019, and 2018:

						Year ended December 31, 2020
						Total																								Attributable to
US$ MILLIONS						Operating						Investing						Financing						Total Cash Flows						Other Ownership Interests						Partnership’s Share
Utilities						$	184					$	(697)					$	285					$	(228)					$	(199)					$	(29)
Transport						1,189						(1,039)						826						976						843						133
Midstream						378						(314)						(56)						8						3						5
Data						852						(735)						(77)						40						34						6
Corporate						—						—						—						—						—						—
Total						$	2,603					$	(2,785)					$	978					$	796					$	681					$	115

						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)
Midstream						357						(267)						(95)						(5)						(3)						(2)
Data						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
Midstream						320						(288)						(46)						(14)						(10)						(4)
Data						323						(305)						19						37						29						8
Corporate						7						(7)						—						—						—						—
Total						$	1,806					$	4,571					$	(6,374)					$	3					$	(10)					$	13

Disclosure of interests in joint ventures

The following tables present the gross assets and liabilities of Brookfield Infrastructure’s investments in associates and joint ventures:

												As at December 31, 2020
												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%						$	646					$	6,142					$	6,788					$	487					$	4,238					$	4,725					$	2,063					$	1,810					$	253
Transport						6-50%						1,266						25,762						27,028						1,959						9,836						11,795						15,233						12,474						2,759
Midstream(1)						20-50%						173						6,392						6,565						249						4,033						4,282						2,283						911						1,372
Data						12-21%						841						13,308						14,149						1,263						6,081						7,344						6,805						5,672						1,133
Corporate						25-50%						22						121						143						14						56						70						73						62						11
Total												$	2,948					$	51,725					$	54,673					$	3,972					$	24,244					$	28,216					$	26,457					$	20,929					$	5,528

(1)The partnership’s share of total net assets include a shareholder loan of $500 million receivable from our U.S. gas pipeline.

												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
Midstream(1)						20-50%						166						5,696						5,862						275						4,013						4,288						1,574						307						1,267
Data						12-21%						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

(1)The partnership’s share of total net assets include a shareholder loan of $500 million receivable from our U.S. gas pipeline.

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, 2020, 2019, and 2018:

						Year ended December 31, 2020
						Total																														Net Income Attributable to the Partnership
US$ MILLIONS						Revenue						Net Income						OCI						Total Comprehensive Income
Utilities						$	1,715					$	364					$	(205)					$	159											$	50
Transport						4,161						171						(1,419)						(1,248)												(101)
Midstream						767						236						—						236												136
Data						2,245						293						374						667												45
Corporate						9						(15)						(245)						(260)												1
Total						$	8,897					$	1,049					$	(1,495)					$	(446)											$	131

						Year ended December 31, 2019
						Total																														Net Income Attributable to the Partnership
US$ MILLIONS						Revenue						Net Income						OCI						Total Comprehensive Income
Utilities						$	1,046					$	354					$	26					$	380											$	57
Transport						3,351						22						364						386												2
Midstream						734						351						(54)						297												184
Data						1,447						(38)						57						19												(9)
Corporate						17						(38)						(156)						(194)												(10)
Total						$	6,595					$	651					$	237					$	888											$	224

						Year ended December 31, 2018
						Total																														Net Income Attributable to the Partnership
US$ MILLIONS						Revenue						Net Income						OCI						Total Comprehensive Income
Utilities						$	541					$	92					$	110					$	202											$	56
Transport						3,747						(74)						(856)						(930)												(333)
Midstream						739						91						8						99												46
Data						804						64						244						308												74
Corporate						41						(132)						356						224												55
Total						$	5,872					$	41					$	(138)					$	(97)											$	(102)

The following tables present the cash flow activities of Brookfield Infrastructure’s investments in associates and joint ventures for the years ended December 31, 2020, 2019, and 2018:

						Year ended December 31, 2020
						Total																								Attributable to
US$ MILLIONS						Operating						Investing						Financing						Total Cash Flows						Other Ownership Interests						Partnership’s Share
Utilities						$	184					$	(697)					$	285					$	(228)					$	(199)					$	(29)
Transport						1,189						(1,039)						826						976						843						133
Midstream						378						(314)						(56)						8						3						5
Data						852						(735)						(77)						40						34						6
Corporate						—						—						—						—						—						—
Total						$	2,603					$	(2,785)					$	978					$	796					$	681					$	115

						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)
Midstream						357						(267)						(95)						(5)						(3)						(2)
Data						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
Midstream						320						(288)						(46)						(14)						(10)						(4)
Data						323						(305)						19						37						29						8
Corporate						7						(7)						—						—						—						—
Total						$	1,806					$	4,571					$	(6,374)					$	3					$	(10)					$	13

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