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PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended
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Dec. 31, 2020
Property, plant and equipment [abstract] |
Disclosure of detailed information about property, plant and equipment |
US$ MILLIONS | Gross carrying amount |  | Accumulated depreciation |  | Accumulated fair value adjustments |  | Total
Balance at January 1, 2019 | $ | 3,141 |  |  | $ | (437) |  |  | $ | 973 |  |  | $ | 3,677 |
Change in accounting policies(1) | 3 |  |  | — |  |  | — |  |  | 3 |
Additions, net of disposals | 413 |  |  | 7 |  |  | — |  |  | 420 |
Depreciation expense | — |  |  | (113) |  |  | — |  |  | (113) |
Fair value adjustments | — |  |  | — |  |  | 347 |  |  | 347 |
Net foreign currency exchange differences | 139 |  |  | (24) |  |  | 48 |  |  | 163 |
Balance at December 31, 2019 | $ | 3,696 |  |  | $ | (567) |  |  | $ | 1,368 |  |  | $ | 4,497 |
Additions, net of disposals | 358 |  |  | 6 |  |  | — |  |  | 364 |
Non-cash additions | 6 |  |  | (3) |  |  | — |  |  | 3 |
Depreciation expense | — |  |  | (131) |  |  | — |  |  | (131) |
Fair value adjustments | — |  |  | — |  |  | 215 |  |  | 215 |
Net foreign currency exchange differences | 137 |  |  | (24) |  |  | 50 |  |  | 163 |
Balance at December 31, 2020 | $ | 4,197 |  |  | $ | (719) |  |  | $ | 1,633 |  |  | $ | 5,111 |
(1)Relates to the adoption of IFRS 16 effective January 1, 2019. The following table summarizes the valuation techniques and significant inputs for our company’s property, plant and equipment assets.
Dec. 31, 2020 |  | Dec. 31, 2019
Valuation Technique |  | Discount Rate |  | Terminal Value Multiple |  | Investment Horizon |  | Valuation Technique |  | Discount Rate |  | Terminal Value Multiple |  | Investment Horizon
Discounted cash flow model |  | 7% |  | 23x |  | 10 yrs |  | Discounted cash flow model |  | 7% |  | 21x |  | 10 yrs

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- Definition The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2020-01-01 -Paragraph 73 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=16&code=ifrs-tx-2020-en-r&anchor=para_73&doctype=Standard -URIDate 2020-01-01 + Details
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