PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

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, 2020	$	8,633	$	8,309	$	3,971	$	1,131	$	22,044

Additions, net of disposals	535		387		306		77		1,305
Non-cash additions (disposals)	15		(241)		(29)		(26)		(281)
Acquisitions through business combinations(1)	—		—		—		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
Additions, net of disposals	478		434		423		429		1,764
Acquisitions through business combinations(1)	180		134		9,865		—		10,179
Assets held by subsidiaries disposed during the period(2)	(2,300)		(15)		—		—		(2,315)
Non-cash additions (disposals)(3)	34		(107)		88		(532)		(517)

Net foreign currency exchange differences	(116)		(145)		165		(166)		(262)
Balance at December 31, 2021	$	7,565	$	8,998	$	14,862	$	8,324	$	39,749

Accumulated depreciation:
Balance at January 1, 2020	$	(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)
Depreciation expense	(352)		(481)		(270)		(419)		(1,522)
Disposals	19		9		17		—		45

Assets held by subsidiaries disposed during the period(2)	663		12		—		—		675
Non-cash disposals	—		140		3		45		188
Net foreign currency exchange differences	11		56		(16)		8		59
Balance at December 31, 2021	$	(1,272)	$	(1,668)	$	(622)	$	(629)	$	(4,191)


US$ MILLIONS	Utilities		Transport		Midstream		Data		Total
Accumulated fair value adjustments:
Balance at January 1, 2020	$	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

Fair value adjustments	134		48		70		—		252
Net foreign currency exchange differences	(26)		(50)		—		—		(76)
Assets held by subsidiaries disposed during the period	(1,399)		—		—		—		(1,399)
Balance at December 31, 2021	$	1,643	$	1,046	$	408	$	—	$	3,097

Net book value:
December 31, 2021(4)	$	7,936	$	8,376	$	14,648	$	7,695	$	38,655
December 31, 2020	$	10,610	$	8,341	$	4,303	$	8,330	$	31,584

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

2.See Note 5, Disposition of Businesses, for additional information.

3.Non-cash disposals within the data segment primarily relates to revisions to the purchase price allocation at our telecom tower operation in India. Refer to Note 6, Acquisition of Businesses, for additional information.

4.Includes right-of-use assets of $118 million (2020: $159 million) in our utilities segment, $1,179 million (2020: $1,187 million) in our transport segment, $389 million (2020: $113 million) in our midstream segment and $2,287 million (2020: $2,643 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, 2021

Dec. 31, 2020

Segment

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 11%

20x

10 to 20 yrs

Discounted cash flow model

7% to 14%

7x to 23x

10 yrs

Transport

Discounted cash flow model

7% to 14%

9x to 15x

10 yrs

Discounted cash flow model

7% to 13%

9x to 14x

10 yrs

Midstream

Discounted cash flow model

15%

10x

5 to 10 yrs

Discounted cash flow model

15%

10x

5 to 10 yrs

(1)Certain businesses are valued using the replacement cost method as a result of their underlying operations. Replacement costs are determined with guidance from independent studies and third party evaluators.

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, inclusive of purchase price allocations.


US$ MILLIONS	Dec. 31, 2021		Dec. 31, 2020
Utilities	$	6,504	$	8,114
Transport	7,557		7,548
Midstream	14,300		4,007
Data	7,694		8,330