PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2022

Property, plant and equipment [abstract]


US$ MILLIONS	Utilities		Transport		Midstream		Data		Total

Balance at January 1, 2021	$	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

Additions, net of disposals	218		274		427		233		1,152

Acquisitions through business combinations(1)	—		—		—		33		33

Non-cash (disposals) additions	(105)		(2)		(6)		38		(75)
Assets reclassified as held for sale	—		(8)		—		—		(8)
Net foreign currency exchange differences	(535)		(292)		(294)		(411)		(1,532)
Balance at June 30, 2022	$	7,143	$	8,970	$	14,989	$	8,217	$	39,319

Accumulated depreciation:
Balance at January 1, 2021	$	(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)
Depreciation expense	(160)		(232)		(208)		(195)		(795)

Assets reclassified as held for sale	—		4		—		—		4

Non-cash disposals	—		10		3		5		18
Net foreign currency exchange differences	93		86		24		32		235
Balance at June 30, 2022	$	(1,339)	$	(1,800)	$	(803)	$	(787)	$	(4,729)

Accumulated fair value adjustments:
Balance at January 1, 2021	$	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(2)	(1,399)		—		—		—		(1,399)
Balance at December 31, 2021	$	1,643	$	1,046	$	408	$	—	$	3,097



Net foreign currency exchange differences	(155)		(62)		(1)		—		(218)
Balance at June 30, 2022	$	1,488	$	984	$	407	$	—	$	2,879

Net book value:
December 31, 2021	$	7,936	$	8,376	$	14,648	$	7,695	$	38,655
June 30, 2022(4)	$	7,292	$	8,154	$	14,593	$	7,430	$	37,469

1.Refer to Note 6 , Acquisition of Businesses, for further details.

2.Refer to Note 5, Disposition of Businesses, for further details.

3.Non-cash disposals within the data segment primarily relates to revisions to the purchase price allocation at our telecom tower operation in India.

4.Includes right-of-use assets of $118 million in our utilities segment, $1,044 million in our transport segment, $369 million in our midstream segment and $2,174 million in our data segment. Current lease liabilities of $404 million have been included in accounts payable and other and non-current lease liabilities of $3,242 million have been included in other liabilities in the Consolidated Statement of Financial Position.

The partnership’s property, plant, and equipment is measured at fair value on a recurring basis with an effective date of revaluation for all asset classes of December 31, 2021. Brookfield Infrastructure determined fair value under the income method or on a depreciated replacement cost basis. The partnership’s right-of-use assets recorded as property, plant, and equipment are measured using the cost model. Assets under development are revalued where fair value could be reliably measured.