XML 84 R64.htm IDEA: XBRL DOCUMENT v3.22.0.1
BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2021
Financial Instruments [Abstract]  
Disclosure of detailed information about borrowings
Maturity(2)
Annual Rate(2)
Currency20212020
Corporate revolving credit facilityJune 29, 2026
LIBOR plus 1.2%
US$$— $1,131 
Corporate revolving credit facilityApril 14, 2022
LIBOR plus 1.2%
US$— — 
Commercial PaperJanuary 25, 20220.37%US$431 — 
Non-Current:
Medium Term Notes(1):
Public - CanadianFebruary 22, 20243.3%C$237 236 
Public - CanadianFebruary 22, 20243.3%C$317 314 
Public - CanadianSeptember 11, 20284.2%C$554 550 
Public - CanadianOctober 9, 20293.4%C$554 550 
Public - CanadianSeptember 1, 20322.9%C$396 392 
Subordinated notes(1)
Public - United StatesMay 24, 20815.0%US$250 — 
2,739 3,173 
Deferred financing costs and other(20)(15)
Total$2,719 $3,158 
(1)See Note 20, Subsidiary Public Issuers, for further details.
(2)Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of December 31, 2021.
The current and non-current balances of non-recourse borrowings are as follows:
US$ MILLIONS20212020
Current$2,701 $1,551 
Non-current23,833 18,469 
Total$26,534 $20,020 
Principal repayments on non-recourse borrowings due over the next five years and thereafter are as follows:
US$ MILLIONSUtilitiesTransportMidstreamDataTotal
2022(1)
$341 $386 $1,819 $53 $2,599 
20231,619 247 715 216 2,797 
20241,191 296 1,536 195 3,218 
2025440 258 1,264 707 2,669 
2026694 3,217 1,028 509 5,448 
Thereafter3,697 944 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 $145 million of debt was in breach of asset-level financial covenants. We anticipate being able to refinance or obtain waivers from our financial institutions and accordingly presented the debt in the contractually obligated year of maturity.
The weighted average interest rates of non-recourse borrowings are as follows:
US$ MILLIONSUtilitiesTransportMidstreamDataTotal
Dec. 31, 20214 %5 %6 %7 %6 %
Dec. 31, 20204 %5 %6 %6 %5 %
Principal repayments on non-recourse borrowings in their local currency are as follows:
US$ MILLIONS, except as notedDec. 31, 2021Local CurrencyDec. 31, 2020Local Currency
Canadian dollars$9,257 CAD11,698 $2,400 CAD$3,056 
U.S. dollars7,376 USD7,376 7,457 USD7,457 
Indian rupees3,650 INR272,388 3,760 INR274,457 
British pounds3,067 GBP2,266 2,941 GBP2,151 
Brazilian real1,840 BRL10,268 1,161 BRL6,035 
Australian dollars468 AUD644 320 AUD416 
Colombian pesos394 COP1,621,399 418 COP1,430,115 
Peruvian soles380 PEN1,521 417 PEN1,511 
New Zealand dollars41 NZD60 43 NZD60 
Euro36 EUR32 59 EUR48 
Chilean Unidad de Fomento(1),(2)
— UF— 1,201 UF29 
(1)Chilean Unidad de Fomento is an inflation adjusted unit of account indexed to the Chilean Peso.
(2)See Note 5, Disposition of Businesses, for additional information.
Disclosure of reconciliation of liabilities arising from financing activities
Details of the “Changes in liabilities from financing activities”, including both changes arising from cash flows and non-cash changes are as follows:
US$ MILLIONS2020
Cash Flows(1)
Acquisitions/
Dispositions(1)
Foreign Exchange Movement and Other2021
Corporate borrowings$3,158 $(456)$— $17 $2,719 
Non-recourse borrowings20,020 851 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.