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BORROWINGS (Tables) | 12 Months Ended
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Dec. 31, 2021
Financial Instruments [Abstract] |
Disclosure of detailed information about borrowings |
|  | Maturity(2) |  | Annual Rate(2) |  | Currency |  | 2021 |  | 2020
Corporate revolving credit facility |  | June 29, 2026 |  | LIBOR plus 1.2% |  | US$ |  | $ | — |  |  | $ | 1,131 |
Corporate revolving credit facility |  | April 14, 2022 |  | LIBOR plus 1.2% |  | US$ |  | — |  |  | — |
Commercial Paper |  | January 25, 2022 |  | 0.37% |  | US$ |  | 431 |  |  | — |
Non-Current: |  |  |  |  |  |  |  |  |  |
Medium Term Notes(1): |  |  |  |  |  |  |  |  |  |
Public - Canadian |  | February 22, 2024 |  | 3.3% |  | C$ |  | 237 |  |  | 236 |
Public - Canadian |  | February 22, 2024 |  | 3.3% |  | C$ |  | 317 |  |  | 314 |
Public - Canadian |  | September 11, 2028 |  | 4.2% |  | C$ |  | 554 |  |  | 550 |
Public - Canadian |  | October 9, 2029 |  | 3.4% |  | C$ |  | 554 |  |  | 550 |
Public - Canadian |  | September 1, 2032 |  | 2.9% |  | C$ |  | 396 |  |  | 392 |
Subordinated notes(1) |  |  |  |  |  |  |  |  |  |
Public - United States |  | May 24, 2081 |  | 5.0% |  | US$ |  | 250 |  |  | — |
|  |  |  |  |  |  |  | 2,739 |  |  | 3,173 |
Deferred financing costs and other |  |  |  |  |  |  |  | (20) |  |  | (15) |
Total |  |  |  |  |  |  |  | $ | 2,719 |  |  | $ | 3,158 |
(1)See Note 20, Subsidiary Public Issuers, for further details. (2)Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of December 31, 2021. The current and non-current balances of non-recourse borrowings are as follows:
US$ MILLIONS |  | 2021 |  | 2020
Current |  | $ | 2,701 |  |  | $ | 1,551 |
Non-current |  | 23,833 |  |  | 18,469 |
Total |  | $ | 26,534 |  |  | $ | 20,020 |
Principal repayments on non-recourse borrowings due over the next five years and thereafter are as follows:
US$ MILLIONS |  | Utilities |  | Transport |  | Midstream |  | Data |  | Total
2022(1) |  | $ | 341 |  |  | $ | 386 |  |  | $ | 1,819 |  |  | $ | 53 |  |  | $ | 2,599 |
2023 |  | 1,619 |  |  | 247 |  |  | 715 |  |  | 216 |  |  | 2,797 |
2024 |  | 1,191 |  |  | 296 |  |  | 1,536 |  |  | 195 |  |  | 3,218 |
2025 |  | 440 |  |  | 258 |  |  | 1,264 |  |  | 707 |  |  | 2,669 |
2026 |  | 694 |  |  | 3,217 |  |  | 1,028 |  |  | 509 |  |  | 5,448 |
Thereafter |  | 3,697 |  |  | 944 |  |  | 2,972 |  |  | 2,165 |  |  | 9,778 |
Total principal repayments(2) |  | 7,982 |  |  | 5,348 |  |  | 9,334 |  |  | 3,845 |  |  | 26,509 |
Deferred financing costs and other |  | (31) |  |  | (39) |  |  | 156 |  |  | (61) |  |  | 25 |
Total - Dec. 31, 2021 |  | $ | 7,951 |  |  | $ | 5,309 |  |  | $ | 9,490 |  |  | $ | 3,784 |  |  | $ | 26,534 |
Total - Dec. 31, 2020 |  | $ | 8,067 |  |  | $ | 6,635 |  |  | $ | 2,111 |  |  | $ | 3,207 |  |  | $ | 20,020 |
(1)Includes commercial paper obligations at our Canadian diversified midstream operation. (2)As of December 31, 2021, approximately $145 million of debt was in breach of asset-level financial covenants. We anticipate being able to refinance or obtain waivers from our financial institutions and accordingly presented the debt in the contractually obligated year of maturity. The weighted average interest rates of non-recourse borrowings are as follows:
US$ MILLIONS |  | Utilities |  | Transport |  | Midstream |  | Data |  | Total
Dec. 31, 2021 |  | 4 | % |  | 5 | % |  | 6 | % |  | 7 | % |  | 6 | %
Dec. 31, 2020 |  | 4 | % |  | 5 | % |  | 6 | % |  | 6 | % |  | 5 | %
Principal repayments on non-recourse borrowings in their local currency are as follows:
US$ MILLIONS, except as noted |  | Dec. 31, 2021 |  | Local Currency |  | Dec. 31, 2020 |  | Local Currency
Canadian dollars |  | $ | 9,257 |  |  | CAD |  | 11,698 |  |  | $ | 2,400 |  |  | CAD |  | $ | 3,056 |
U.S. dollars |  | 7,376 |  |  | USD |  | 7,376 |  |  | 7,457 |  |  | USD |  | 7,457 |
Indian rupees |  | 3,650 |  |  | INR |  | 272,388 |  |  | 3,760 |  |  | INR |  | 274,457 |
British pounds |  | 3,067 |  |  | GBP |  | 2,266 |  |  | 2,941 |  |  | GBP |  | 2,151 |
Brazilian real |  | 1,840 |  |  | BRL |  | 10,268 |  |  | 1,161 |  |  | BRL |  | 6,035 |
Australian dollars |  | 468 |  |  | AUD |  | 644 |  |  | 320 |  |  | AUD |  | 416 |
Colombian pesos |  | 394 |  |  | COP |  | 1,621,399 |  |  | 418 |  |  | COP |  | 1,430,115 |
Peruvian soles |  | 380 |  |  | PEN |  | 1,521 |  |  | 417 |  |  | PEN |  | 1,511 |
New Zealand dollars |  | 41 |  |  | NZD |  | 60 |  |  | 43 |  |  | NZD |  | 60 |
Euro |  | 36 |  |  | EUR |  | 32 |  |  | 59 |  |  | EUR |  | 48 |
Chilean Unidad de Fomento(1),(2) |  | — |  |  | UF |  | — |  |  | 1,201 |  |  | UF |  | 29 |
(1)Chilean Unidad de Fomento is an inflation adjusted unit of account indexed to the Chilean Peso. (2)See Note 5, Disposition of Businesses, for additional information.
Disclosure of reconciliation of liabilities arising from financing activities | Details of the “Changes in liabilities from financing activities”, including both changes arising from cash flows and non-cash changes are as follows:
US$ MILLIONS |  | 2020 |  | Cash Flows(1) |  | Acquisitions/ Dispositions(1) |  | Foreign Exchange Movement and Other |  | 2021
Corporate borrowings |  | $ | 3,158 |  |  | $ | (456) |  |  | $ | — |  |  | $ | 17 |  |  | $ | 2,719 |
Non-recourse borrowings |  | 20,020 |  |  | 851 |  |  | 5,819 |  |  | (156) |  |  | 26,534 |
(1)Cash flows related to asset level debt raised on the closing of our Canadian diversified midstream operation and the acquisition of an additional interest in our Brazilian regulated gas transmission operation have been presented within Acquisitions/Dispositions. Refer to Note 6, Acquisition of Businesses, and Note 5, Disposition of Businesses, for further details.

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