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DISTRIBUTIONS | 12 Months Ended
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Dec. 31, 2023
Distributions [Abstract] |
DISTRIBUTIONS | DISTRIBUTIONS The following table outlines distributions made to each class of partnership units, including BIPC exchangeable shares that are exchangeable into units, as well as BIPC exchangeable LP units that are exchangeable into BIPC exchangeable shares.
| For the year ended December 31,
US$ MILLIONS | 2023 |  | 2022 |  | 2021
Limited Partners | $ | (701) |  |  | $ | (660) |  |  | $ | (608) |
General Partner(1) | (269) |  |  | (244) |  |  | (209) |
Non-controlling interest attributable to: |  |  |  |  |
Redeemable Partnership Units held by Brookfield | (298) |  |  | (277) |  |  | (251) |
BIPC exchangeable shares | (176) |  |  | (160) |  |  | (115) |
Exchangeable units(2) | (9) |  |  | (11) |  |  | (7) |
Preferred unitholders | (47) |  |  | (50) |  |  | (67) |
Perpetual subordinated notes | (16) |  |  | (16) |  |  | — |
Total Distributions | $ | (1,516) |  |  | $ | (1,418) |  |  | $ | (1,257) |
| For the year ended December 31,
PER UNIT/SHARE(3) | 2023 |  | 2022 |  | 2021
Limited Partners | $ | 1.53 |  |  | $ | 1.44 |  |  | $ | 1.36 |
General Partner(1) | 1.53 |  |  | 1.44 |  |  | 1.36 |
Non-controlling interest attributable to: |  |  |  |  |
Redeemable Partnership Units held by Brookfield | 1.53 |  |  | 1.44 |  |  | 1.36 |
BIPC exchangeable shares | 1.53 |  |  | 1.44 |  |  | 1.36 |
Exchangeable units(2) | 1.53 |  |  | 1.44 |  |  | 1.36 |
Preferred unitholders | 1.07 |  |  | 1.06 |  |  | 1.05 |
Perpetual subordinated notes | 1.28 |  |  | 1.28 |  |  | — |
(1)Distributions to the General Partner include $266 million of incentive distributions for the year ended December 31, 2023 (2022: $240 million, 2021: $206 million). (2)Includes non-controlling interest attributable to Exchange LP Units and BIPC Exchangeable LP Units. Refer to Note 1, Organization and Description of the Business, for further details. (3)Historical per unit disclosures have been retroactively adjusted for the impact of the three-for-two split of our units, BIPC exchangeable shares, Exchange LP units and BIPC exchangeable LP units. Refer to Note 27. Partnership Capital, for further details. On December 4, 2023, our partnership announced the fixed distribution rate reset on its Series 11 Preferred Units for the five years commencing January 1, 2024 and ending December 31, 2028. If declared, the fixed quarterly distributions on the Series 11 Preferred Units during the five years commencing January 1, 2024 will be paid at an annual rate of 6.446% (C$0.402875 per unit per quarter). On March 2, 2023, our partnership announced the fixed distribution rate reset on its Series 9 Preferred Units for the five years commencing April 1, 2023 and ending March 31, 2028. If declared, the fixed quarterly distributions on the Series 9 Preferred Units during the five years commencing April 1, 2023 will be paid at an annual rate of 6.642% (C$0.415125 per unit per quarter).

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- Definition The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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