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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Operating Segments [Abstract] |
Disclosure of Operating Segments |
FOR THE YEAR ENDED DECEMBER 31, 2023 US$ MILLIONS |  | Total attributable to Brookfield Infrastructure |  |  |  |  |  |
| Contribution from investments in associates |  | Attributable to non- controlling interest |  | As per IFRS financials(1)
| Utilities |  | Transport |  | Midstream |  | Data |  | Corporate |  | Total |
Revenues(2) |  | $ | 2,655 |  |  | $ | 2,193 |  |  | $ | 1,736 |  |  | $ | 724 |  |  | $ | — |  |  | $ | 7,308 |  |  | $ | (2,125) |  |  | $ | 12,748 |  |  | $ | 17,931 |
Costs attributed to revenues(3) |  | (1,328) |  |  | (958) |  |  | (741) |  |  | (277) |  |  | — |  |  | (3,304) |  |  | 783 |  |  | (8,210) |  |  | (10,731) |
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (413) |  |  | (413) |  |  | — |  |  | — |  |  | (413) |
Other (expense) income |  | (115) |  |  | (11) |  |  | (23) |  |  | — |  |  | 186 |  |  | 37 |  |  | 47 |  |  | (336) |  |  | (252) |
Interest expense |  | (333) |  |  | (336) |  |  | (288) |  |  | (172) |  |  | (211) |  |  | (1,340) |  |  | 372 |  |  | (1,533) |  |  | (2,501) |
FFO |  | 879 |  |  | 888 |  |  | 684 |  |  | 275 |  |  | (438) |  |  | 2,288 |  |  |  |  |  |  |
Depreciation and amortization |  | (1,429) |  |  | 477 |  |  | (1,787) |  |  | (2,739) |
Deferred taxes |  | (30) |  |  | (18) |  |  | 43 |  |  | (5) |
Mark-to-market on hedging items and other |  | (397) |  |  | 5 |  |  | 91 |  |  | (301) |
Share of earnings from associates |  | — |  |  | 459 |  |  | — |  |  | 459 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | (1,016) |  |  | (1,016) |
Net income attributable to partnership(4) |  | $ | 432 |  |  | $ | — |  |  | $ | — |  |  | $ | 432 |
FOR THE YEAR ENDED DECEMBER 31, 2022 US$ MILLIONS |  | Total attributable to Brookfield Infrastructure |  |  |  |  |  |
| Contribution from investments in associates |  | Attributable to non- controlling interest |  | As per IFRS financials(1)
| Utilities |  | Transport |  | Midstream |  | Data |  | Corporate |  | Total |
Revenues(2) |  | $ | 1,872 |  |  | $ | 1,985 |  |  | $ | 1,661 |  |  | $ | 607 |  |  | $ | — |  |  | $ | 6,125 |  |  | $ | (2,470) |  |  | $ | 10,772 |  |  | $ | 14,427 |
Costs attributed to revenues(3) |  | (771) |  |  | (903) |  |  | (724) |  |  | (262) |  |  | — |  |  | (2,660) |  |  | 1,241 |  |  | (6,933) |  |  | (8,352) |
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (433) |  |  | (433) |  |  | — |  |  | — |  |  | (433) |
Other (expense) income |  | (86) |  |  | (6) |  |  | (3) |  |  | 7 |  |  | 134 |  |  | 46 |  |  | 29 |  |  | (313) |  |  | (238) |
Interest expense |  | (276) |  |  | (282) |  |  | (191) |  |  | (113) |  |  | (129) |  |  | (991) |  |  | 314 |  |  | (1,178) |  |  | (1,855) |
FFO |  | 739 |  |  | 794 |  |  | 743 |  |  | 239 |  |  | (428) |  |  | 2,087 |  |  |  |  |  |  |
Depreciation and amortization |  | (1,282) |  |  | 507 |  |  | (1,383) |  |  | (2,158) |
Deferred taxes |  | (113) |  |  | (15) |  |  | 42 |  |  | (86) |
Mark-to-market on hedging items and other |  | (285) |  |  | 382 |  |  | (39) |  |  | 58 |
Share of earnings from associates |  | — |  |  | 12 |  |  | — |  |  | 12 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | (968) |  |  | (968) |
Net income attributable to partnership(4) |  | $ | 407 |  |  | $ | — |  |  | $ | — |  |  | $ | 407 |
FOR THE YEAR ENDED DECEMBER 31, 2021 US$ MILLIONS |  | Total attributable to Brookfield Infrastructure |  | Contribution from investments in associates |  | Attributable to non- controlling interest |  | As per IFRS financials(1)
| Utilities |  | Transport |  | Midstream |  | Data |  | Corporate |  | Total |
Revenues(2) |  | $ | 1,623 |  |  | $ | 1,775 |  |  | $ | 990 |  |  | $ | 606 |  |  | $ | — |  |  | $ | 4,994 |  |  | $ | (1,976) |  |  | $ | 8,519 |  |  | $ | 11,537 |
Costs attributed to revenues(3) |  | (681) |  |  | (807) |  |  | (378) |  |  | (271) |  |  | — |  |  | (2,137) |  |  | 964 |  |  | (5,038) |  |  | (6,211) |
General and administrative costs |  | — |  |  | — |  |  | — |  |  | — |  |  | (406) |  |  | (406) |  |  | — |  |  | — |  |  | (406) |
Other (expense) income |  | (64) |  |  | (8) |  |  | (4) |  |  | 7 |  |  | 106 |  |  | 37 |  |  | 9 |  |  | (256) |  |  | (210) |
Interest expense |  | (173) |  |  | (259) |  |  | (116) |  |  | (104) |  |  | (103) |  |  | (755) |  |  | 258 |  |  | (971) |  |  | (1,468) |
FFO |  | 705 |  |  | 701 |  |  | 492 |  |  | 238 |  |  | (403) |  |  | 1,733 |  |  |  |  |  |  |
Depreciation and amortization |  | (1,144) |  |  | 480 |  |  | (1,372) |  |  | (2,036) |
Deferred taxes |  | (168) |  |  | (10) |  |  | (62) |  |  | (240) |
Mark-to-market on hedging items and other |  | 672 |  |  | 187 |  |  | 806 |  |  | 1,665 |
Share of earnings from associates |  | — |  |  | 88 |  |  | — |  |  | 88 |
Net income attributable to non-controlling interest |  | — |  |  | — |  |  | (1,626) |  |  | (1,626) |
Net income attributable to partnership(4) |  | $ | 1,093 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,093 |
(1)The above table reconciles Brookfield Infrastructure’s share of results to our partnership’s Consolidated Statements of Operating Results on a line by line basis by aggregating the components comprising the earnings from our partnership’s investments in associates and reflecting the portion of each line item attributable to non-controlling interests. (2)Revenues on a consolidated basis were $7,862 million (2022: $5,238 million, 2021: $4,622 million) from our utilities segment, $3,897 million (2022: $3,533 million, 2021: $3,497 million) from our transport segment, $4,205 million (2022: $3,957 million, 2021: $1,829 million) from our midstream segment and $1,967 million (2022: $1,699 million, 2021: $1,589 million) from our data segment. (3)Costs attributed to revenues exclude depreciation and amortization expense. Refer to Note 23, Direct Operating Costs, for further details. (4)Includes net income attributable to limited partners, the general partner, non-controlling interests - Redeemable Partnership Units held by Brookfield, non-controlling interests - Exchangeable units and non-controlling interests - BIPC exchangeable shares. The following is an analysis of Brookfield Infrastructure’s assets by reportable operating segment:
|  | Total Attributable to Brookfield Infrastructure |  |  |  |  |  |  |  |
|  | Contribution from investments in associates |  | Attributable to non- controlling interest |  | Working capital adjustment and other |  | As per IFRS financials(1)
AS AT DECEMBER 31, 2023 US$ MILLIONS |  | Utilities |  | Transport |  | Midstream |  | Data |  | Corporate |  | Brookfield Infrastructure |
Total assets |  | $ | 9,035 |  |  | $ | 11,840 |  |  | $ | 9,918 |  |  | $ | 7,511 |  |  | $ | (2,480) |  |  | $ | 35,824 |  |  | $ | (7,580) |  |  | $ | 62,732 |  |  | $ | 9,808 |  |  | $ | 100,784 |
|  | Total Attributable to Brookfield Infrastructure |  |  |  |  |  |  |  |
|  | Contribution from investments in associates |  | Attributable to non- controlling interest |  | Working capital adjustment and other |  | As per IFRS financials(1)
AS AT DECEMBER 31, 2022 US$ MILLIONS |  | Utilities |  | Transport |  | Midstream |  | Data |  | Corporate |  | Brookfield Infrastructure |
Total assets |  | $ | 7,337 |  |  | $ | 8,333 |  |  | $ | 9,747 |  |  | $ | 4,002 |  |  | $ | (1,208) |  |  | $ | 28,211 |  |  | $ | (5,434) |  |  | $ | 41,327 |  |  | $ | 8,865 |  |  | $ | 72,969 |
(1)The above table provides each segment’s assets in the format that management organizes its reporting segments to make operating decisions and assess performance. Each segment is presented based on our partnership’s share of total assets, taking into account Brookfield Infrastructure’s ownership in operations using consolidation and the equity method whereby our partnership either controls or exercises significant influence over the investment, respectively. The above table reconciles Brookfield Infrastructure’s share of total assets to total assets presented on our partnership’s Consolidated Statements of Financial Position by removing net liabilities contained within investments in associates and joint ventures and reflecting the assets attributable to non-controlling interests, and adjusting for working capital assets which are netted against working capital liabilities.
Revenue and Assets by Geographical Region | Substantially all of our partnership’s revenues are recognized over time as services are rendered. The following table disaggregates revenues by geographical region.
US$ MILLIONS |  | 2023 |  | 2022 |  | 2021
Canada |  | $ | 4,611 |  |  | $ | 4,438 |  |  | $ | 2,423 |
United States |  | 4,175 |  |  | 2,840 |  |  | 2,644 |
United Kingdom |  | 2,194 |  |  | 1,604 |  |  | 1,511 |
India |  | 1,945 |  |  | 1,878 |  |  | 1,717 |
Brazil |  | 1,522 |  |  | 1,538 |  |  | 1,164 |
Colombia |  | 996 |  |  | 900 |  |  | 862 |
Australia |  | 678 |  |  | 666 |  |  | 617 |
France |  | 442 |  |  | — |  |  | — |
Spain |  | 318 |  |  | — |  |  | — |
Peru |  | 144 |  |  | 111 |  |  | 96 |
New Zealand |  | 128 |  |  | 112 |  |  | 121 |
Chile |  | — |  |  | — |  |  | 138 |
Other |  | 778 |  |  | 340 |  |  | 244 |
|  | $ | 17,931 |  |  | $ | 14,427 |  |  | $ | 11,537 |
US$ MILLIONS |  | 2023 |  | 2022
Canada |  | $ | 23,114 |  |  | $ | 22,711 |
United States |  | 17,702 |  |  | 13,384 |
United Kingdom |  | 11,535 |  |  | 8,092 |
India |  | 9,669 |  |  | 9,269 |
Brazil |  | 5,237 |  |  | 4,476 |
France |  | 5,153 |  |  | 729 |
Australia |  | 3,826 |  |  | 4,290 |
Switzerland |  | 2,197 |  |  | — |
Singapore |  | 1,687 |  |  | — |
China |  | 1,573 |  |  | — |
Denmark |  | 1,445 |  |  | 198 |
Peru |  | 1,295 |  |  | 1,202 |
Colombia |  | 1,288 |  |  | 989 |
New Zealand |  | 319 |  |  | 338 |
Other Europe |  | 4,650 |  |  | 424 |
Other Asia |  | 1,460 |  |  | 56 |
Other |  | 655 |  |  | 125 |
|  | $ | 92,805 |  |  | $ | 66,283 |

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