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INVESTMENT IN ASSOCIATES AND JOINT VENTURES (Tables)
 6 Months Ended
Jun. 30, 2021
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$ MILLIONSFor the six-month period
ended June 30, 2021		For the 12 month period ended December 31, 2020
Balance at the beginning of the period$5,528 $4,967 
Share of earnings for the period77 131 
Foreign currency translation and other(45)(245)
Share of other comprehensive income5 7 
Distributions(59)(167)
Disposition of interest(1)
(336)— 
Change in basis of accounting(2),(3)
(43)466 
Acquisitions(4)
— 369 
Ending Balance(5)
$5,127 $5,528 
1.In March 2021, Brookfield Infrastructure sold an effective 13% interest in its U.S. gas pipeline for net proceeds of $412 million. Approximately $125 million of the proceeds were used to repay a shareholder loan. On disposition, Brookfield Infrastructure recognized a gain on sale of approximately $75 million in Other income (expense) in the Consolidated Statement of Operating Results. Based on our ownership interest and governance rights retained, our partnership will continue to equity account for this investment in the midstream segment.
2.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.
3.On February 26, 2021, Brookfield Infrastructure exercised its option to acquire an additional 15% interest in Jose Maria de Macedo de Eletricidade S.A. (“JMM”), a Brazilian electricity transmission operation, increasing Brookfield Infrastructure’s ownership in JMM to 31%. As a result of governance rights obtained, Brookfield Infrastructure will consolidate JMM effective February 26, 2021. Refer to Note 6, Acquisition of Businesses, for further details.
4.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.
5.The closing balance includes a shareholder loan of $375 million from our U.S. gas pipeline (2020: $500 million).
Disclosure of operating segments [text block]
Total attributable to Brookfield Infrastructure
FOR THE THREE-MONTH PERIOD ENDED
JUNE 30, 2021
US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateTotalContribution
from
investments
in associates		Attributable to non-controlling
interest
As per IFRS
financials(1)
Revenues$428 $506 $130 $151 $— $1,215 $(474)$1,922 $2,663 
Costs attributed to revenues(177)(267)(48)(67)— (559)235 (1,109)(1,433)
General and administrative expenses— — — — (96)(96)— — (96)
Adjusted EBITDA251 239 82 84 (96)560 (239)813 
Other (expense) income (18)— — — 30 12 1 (47)(34)
Interest expense(43)(66)(22)(24)(23)(178)64 (248)(362)
FFO190 173 60 60 (89)394 (174)518 
Depreciation and amortization expense(62)(118)(36)(57)— (273)124 (343)(492)
Deferred taxes(94)(9)5 (4)(6)(108)(14)(90)(212)
Mark-to-market on hedging items and other121 (40)(28)(3)289 339 54 869 1,262 
Share of earnings from associates— — — — — — 10 — 10 
Net income attributable to non-controlling interest— — — — — — — (954)(954)
Net income (loss) attributable to partnership(2)
$155 $6 $1 $(4)$194 $352 $— $— $352 

Total attributable to Brookfield Infrastructure
FOR THE THREE-MONTH PERIOD ENDED
JUNE 30, 2020
US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateTotalContribution
from
investments
in associates		Attributable to non-controlling
interest
As per IFRS
financials(1)
Revenues$329 $340 $130 $104 $— $903 $(298)$1,341 $1,946 
Costs attributed to revenues(126)(166)(48)(51)— (391)130 (802)(1,063)
General and administrative expenses— — — — (72)(72)— — (72)
Adjusted EBITDA203 174 82 53 (72)440 (168)539 
Other (expense) income(8)7 — 2 40 41 (7)(38)(4)
Interest expense(38)(54)(22)(12)(22)(148)46 (145)(247)
FFO157 127 60 43 (54)333 (129)356 
Depreciation and amortization expense(63)(79)(39)(41)— (222)92 (245)(375)
Deferred taxes(13)3 (1)19 (4)4 (12)— (8)
Mark-to-market on hedging items and other(24)(37)(8)(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)
$57 $14 $12 $16 $(160)$(61)$— $— $(61)
Total attributable to Brookfield Infrastructure
FOR THE SIX-MONTH PERIOD ENDED
JUNE 30, 2021
US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateTotalContribution
from
investments
in associates		Attributable to non-controlling
interest
As per IFRS
financials(1)
Revenues$818 $1,001 $364 $319 $— $2,502 $(964)$3,808 $5,346 
Costs attributed to revenues(344)(529)(97)(153)— (1,123)470 (2,126)(2,779)
General and administrative expenses— — — — (191)(191)— — (191)
Adjusted EBITDA474 472 267 166 (191)1,188 (494)1,682 
Other (expense) income(34)(4)(15)5 49 1 1 (99)(97)
Interest expense(84)(133)(46)(51)(50)(364)134 (487)(717)
FFO356 335 206 120 (192)825 (359)1,096 
Depreciation and amortization expense(129)(234)(78)(112)— (553)252 (660)(961)
Deferred taxes(106)(7)(5)— (18)(136)(15)(101)(252)
Mark-to-market on hedging items and other122 (53)(28)(10)375 406 45 842 1,293 
Share of earnings from associates— — — — — — 77 — 77 
Net income attributable to non-controlling interest— — — — — — — (1,177)(1,177)
Net income (loss) attributable to partnership(2)
$243 $41 $95 $(2)$165 $542 $— $— $542 

Total attributable to Brookfield Infrastructure
FOR THE SIX-MONTH PERIOD ENDED
JUNE 30, 2020
US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateTotalContribution
from
investments
in associates		Attributable to non-controlling
interest
As per IFRS
financials(1)
Revenues$684 $716 $278 $213 $— $1,891 $(627)$2,878 $4,142 
Costs attributed to revenues(267)(347)(96)(104)— (814)267 (1,755)(2,302)
General and administrative expenses— — — — (133)(133)— — (133)
Adjusted EBITDA417 369 182 109 (133)944 (360)1,123 
Other (expense) income(18)4 1 — 59 46 (3)(65)(22)
Interest expense(77)(107)(46)(24)(45)(299)88 (318)(529)
FFO322 266 137 85 (119)691 (275)740 
Depreciation and amortization expense(130)(173)(77)(89)— (469)203 (509)(775)
Deferred taxes(52)10 (5)19 (7)(35)(2)(19)(56)
Mark-to-market on hedging items and other(44)(108)(18)(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)
$96 $(5)$37 $(8)$(62)$58 $— $— $58 
1.The above table provides each segment’s results in the format that management organizes its reporting segments to make operating decisions and assess performance. Each segment is presented on a proportionate basis, taking into account Brookfield Infrastructure’s ownership in operations accounted for using the consolidation and equity methods under IFRS. The above table reconciles Brookfield Infrastructure’s proportionate results to our partnership’s Consolidated Statements of Operating Results on a line by line basis by aggregating the components comprising the earnings from our partnership’s investments in associates and joint ventures and reflecting the portion of each line item attributable to non-controlling interests.
2.Includes net income (loss) attributable to limited partners, the general partner, non-controlling interests—Redeemable Partnership Units held by Brookfield, non-controlling interests—Exchange LP Units and non-controlling interests - BIPC exchangeable shares.
The following is an analysis of Brookfield Infrastructure’s assets by reportable operating segment.
Total Attributable to Brookfield Infrastructure
AS OF JUNE 30, 2021
US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateTotalContribution
from
investments
in associates		Attributable
to non-
controlling
interest		Working
capital
adjustment
and other
As per
IFRS
financials(1)
Total assets$6,414 $9,188 $3,245 $3,355 $(1,829)$20,373 $(4,832)$36,993 $7,744 $60,278 

Total Attributable to Brookfield Infrastructure
AS OF DECEMBER 31, 2020
US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateTotalContribution
from
investments
in associates		Attributable
to non-
controlling
interest		Working
capital
adjustment
and other
As per
IFRS
financials(1)
Total assets$6,814 $9,155 $3,829 $3,338 $(2,062)$21,074 $(4,895)$37,851 $7,301 $61,331 
1.The above table provides each segment’s assets in the format that management organizes its reporting segments to make operating decisions and assess performance. Each segment is presented on a proportionate basis, taking into account Brookfield Infrastructure’s ownership in operations using consolidation and the equity method whereby our partnership either controls or exercises significant influence over the investment respectively. The above table reconciles Brookfield Infrastructure’s proportionate assets to total assets presented on our partnership’s Consolidated Statements of Financial Position by removing net liabilities contained within investments in associates and joint ventures and reflecting the assets attributable to non-controlling interests, and adjusting for working capital assets which are netted against working capital liabilities.
The following table represents the carrying value of our partnership’s investments in associates and joint ventures:
As of
US$ MILLIONSJune 30, 2021December 31, 2020
Utilities$249 $253 
Transport2,754 2,759 
Midstream1,022 1,372 
Data1,087 1,133 
Corporate 15 11 
Ending Balance$5,127 $5,528 
Disclosure of associates [text block]
The following tables summarize the aggregate balances of investments in associates and joint ventures on a 100% basis:
As of
US$ MILLIONSJune 30, 2021December 31, 2020
Financial position:
Total assets$54,607 $54,673 
Total liabilities(32,536)(28,216)
Net assets$22,071 $26,457 
For the three-month
period ended June 30		For the six-month
period ended June 30
US$ MILLIONS2021202020212020
Financial performance:
Total revenue$3,897 $1,804 $7,862 $3,591 
Total net income for the period324 70 846 219 
Brookfield Infrastructure’s share of net income before reclassification23 11 90 59 
Reclassification of previously recognized foreign currency movements(13)— (13)— 
Brookfield Infrastructure’s share of net income $10 $11 $77 $59