XML 17 R3.htm IDEA: XBRL DOCUMENT v3.22.2
UNAUDITED INTERIM CONDENSED AND CONSOLIDATED STATEMENTS OF OPERATING RESULTS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Profit or loss [abstract]        
Revenues $ 3,681 $ 2,663 $ 7,092 $ 5,346
Direct operating costs [1] (2,712) (1,925) (5,218) (3,740)
General and administrative expenses (108) (96) (229) (191)
Profit (loss) from operating activities 861 642 1,645 1,415
Interest expense (469) (362) (878) (717)
Share of (losses) earnings from investments in associates and joint ventures (34) 10 20 77
Mark-to-market on hedging items 169 (15) 137 20
Other income 52 1,317 87 1,344
Income before income tax 579 1,592 1,011 2,139
Income tax (expense) recovery        
Current (180) (74) (300) (168)
Deferred 26 (212) 8 (252)
Net income 425 1,306 719 1,719
Attributable to:        
Limited partners 70 192 76 281
General partner 60 51 120 101
Non-controlling interest attributable to:        
Redeemable Partnership Units held by Brookfield 29 79 32 116
BIPC exchangeable shares 17 29 18 43
Exchange LP Units 0 1 0 1
Interest of others in operating subsidiaries $ 249 $ 954 $ 473 $ 1,177
Basic and diluted income per limited partner unit:        
Basic earnings (loss) per share (in dollars per share) $ 0.13 $ 0.41 $ 0.12 $ 0.59
Diluted earnings (loss) per share (in dollars per share) $ 0.13 $ 0.41 $ 0.12 $ 0.59
[1] Our company reclassified depreciation and amortization expense, which was previously presented as a separate line item, to direct operating costs. Direct operating costs include $552 million and $1,096 million of depreciation and amortization expenses for the three and six-month periods ended June 30, 2022, respectively. Prior period amounts were also adjusted to reflect this change, which resulted in an increase to direct operating costs of $492 million and $961 million for the three and six-month periods ended June 30, 2021, with an equal and offsetting decrease to depreciation and amortization expense. This reclassification had no impact on revenues, net income, or basic and diluted earnings per limited partner unit.