PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2020

Property, plant and equipment [abstract]

Disclosure of detailed information about property, plant and equipment


US$ MILLIONS	Utilities		Transport		Midstream		Data		Total
Gross Carrying Amount:
Balance at January 1, 2019	$	6,248	$	2,495	$	2,443	$	444	$	11,630
Change in accounting policies(1)	110		356		108		633		1,207
Additions, net of disposals	770		122		116		8		1,016
Non-cash (disposals) additions	(295)		49		23		(51)		(274)
Acquisitions through business combinations(2)	2,135		5,283		1,197		95		8,710
Assets reclassified as held for sale	(455)		—		(3)		—		(458)
Net foreign currency exchange differences	120		4		87		2		213
Balance at December 31, 2019	$	8,633	$	8,309	$	3,971	$	1,131	$	22,044
Additions, net of disposals	535		387		306		77		1,305
Non-cash (disposals) additions	15		(241)		(29)		(26)		(281)
Acquisitions through business combinations(2)	—		—		—		7,334		7,334
Net foreign currency exchange differences	106		242		73		77		498
Balance at December 31, 2020	$	9,289	$	8,697	$	4,321	$	8,593	$	30,900

Accumulated depreciation:
Balance at January 1, 2019	$	(985)	$	(744)	$	(120)	$	—	$	(1,849)
Depreciation expense	(415)		(178)		(84)		(87)		(764)
Disposals	3		2		—		—		5
Assets reclassified as held for sale	194		—		—		—		194
Non-cash disposals (additions)	50		(27)		3		—		26
Net foreign currency exchange differences	(18)		(3)		(7)		(1)		(29)
Balance at December 31, 2019	$	(1,171)	$	(950)	$	(208)	$	(88)	$	(2,417)
Depreciation expense	(419)		(498)		(141)		(189)		(1,247)
Disposals	12		4		—		—		16
Non-cash disposals	—		130		—		17		147
Net foreign currency exchange differences	(35)		(90)		(7)		(3)		(135)
Balance at December 31, 2020	$	(1,613)	$	(1,404)	$	(356)	$	(263)	$	(3,636)


Accumulated fair value adjustments:
Balance at January 1, 2019	$	2,002	$	810	$	221	$	—	$	3,033
Assets reclassified as held for sale	(416)		—		—		—		(416)
Fair value adjustments	582		45		92		—		719
Net foreign currency exchange differences	44		2		16		—		62
Non-cash disposals	—		—		(12)		—		(12)
Balance at December 31, 2019	$	2,212	$	857	$	317	$	—	$	3,386

Fair value adjustments	652		113		21		—		786
Net foreign currency exchange differences	70		78		—		—		148

Balance at December 31, 2020	$	2,934	$	1,048	$	338	$	—	$	4,320

Net book value:
December 31, 2020(3)	$	10,610	$	8,341	$	4,303	$	8,330	$	31,584
December 31, 2019	$	9,674	$	8,216	$	4,080	$	1,043	$	23,013

1.Relates to the adoption of IFRS 16 effective January 1, 2019.

2.See Note 6, Acquisition of Businesses, for additional information.

3.Includes right-of-use assets of $159 million (2019: $156 million) in our utilities segment, $1,187 million (2019: $1,329 million) in our transport segment, $113 million (2019: $116 million) in our midstream segment and $2,643 million (2019: $560 million) in our data segment.

The following table summarizes the valuation techniques and significant inputs for Brookfield Infrastructure’s property, plant and equipment assets valued using the income method, categorized by segment.

Dec. 31, 2020

Dec. 31, 2019

Segment

Primary Valuation Technique(1)

Discount Rate

Terminal Value Multiple

Investment Horizon

Primary Valuation Technique(1)

Discount Rate

Terminal Value Multiple

Investment Horizon

Utilities

Discounted cash flow model

7% to 14%

7x to 23x

10 yrs

Discounted cash flow model

7% to 14%

8x to 21x

10 to 20 yrs

Transport

Discounted cash flow model

7% to 13%

9x to 14x

10 yrs

Discounted cash flow model

7% to 13%

9x to 14x

10 to 20 yrs

Midstream

Discounted cash flow model

15%

10x

5 to 10 yrs

Discounted cash flow model

15%

10x

5 to 10 yrs

The following table summarizes the carrying amount of property, plant and equipment that would have been recognized had assets been carried under the cost model.


US$ MILLIONS	Dec. 31, 2020		Dec. 31, 2019
Utilities	$	8,114	$	7,776
Transport	7,548		7,574
Midstream	4,007		3,797
Data	8,330		1,043