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BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Instruments [Abstract]  
Disclosure of detailed information about borrowings
Maturity(2)
Annual Rate(2)
Currency20232022
Corporate revolving credit facilityJune 29, 2028
SOFR plus 1.2%
US$$222 $96 
Commercial PaperFebruary 12, 20246.1%US$989 464 
Current:
Medium Term Notes(1):
Public - Canadian(3)
February 22, 20243.3%C$226 222 
Public - Canadian(3)
February 22, 20243.3%C$302 295 
Non-Current:
Medium Term Notes(1):
Public - CanadianNovember 14, 20275.6%C$340 332 
Public - CanadianSeptember 11, 20284.2%C$528 517 
Public - CanadianOctober 9, 20293.4%C$528 517 
Public - CanadianJuly 27, 20305.7%C$377 — 
Public - CanadianSeptember 1, 20322.9%C$377 369 
Public - CanadianFebruary 14, 20336.0%C$189 185 
Public - CanadianApril 25, 20345.4%C$302 295 
Public - CanadianApril 25, 20525.8%C$151 147 
Public - CanadianJuly 27, 20536.0%C$151 — 
Subordinated notes(1)
Public - United StatesMay 24, 20815.0%US$250 250 
4,932 3,689 
Deferred financing costs and other(21)(23)
Total$4,911 $3,666 
(1)See Note 20, Subsidiary Public Issuers, for further details.
(2)Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of December 31, 2023.
(3)On February 21, 2024, Brookfield Infrastructure Finance ULC redeemed all medium-term notes maturing February 22, 2024.
The current and non-current balances of non-recourse borrowings are as follows:
US$ MILLIONS20232022
Current$4,442 $2,567 
Non-current36,462 24,000 
Total$40,904 $26,567 
Principal repayments on non-recourse borrowings due over the next five years and thereafter are as follows:
US$ MILLIONSUtilitiesTransportMidstreamDataTotal
2024(1)
$1,112 $1,335 $1,817 $404 $4,668 
20251,057 709 243 792 2,801 
20261,151 4,731 1,331 645 7,858 
20271,090 2,046 1,529 369 5,034 
20281,792 840 711 2,064 5,407 
Thereafter5,662 2,844 5,491 2,175 16,172 
Total principal repayments11,864 12,505 11,122 6,449 41,940 
Deferred financing costs and other(92)(795)32 (181)(1,036)
Total - Dec. 31, 2023$11,772 $11,710 $11,154 $6,268 $40,904 
Total - Dec. 31, 2022$8,702 $4,924 $9,021 $3,920 $26,567 
(1)Includes commercial paper obligations of $1.2 billion at our Canadian diversified midstream operation.
The weighted average interest rates of non-recourse borrowings are as follows:
US$ MILLIONS
Utilities(1)
TransportMidstreamDataTotal
Dec. 31, 20238 %5 %5 %7 %6 %
Dec. 31, 20228 %5 %3 %7 %5 %
(1)Excluding the impact of the variable interest in our Brazilian assets, the weighted average interest rate of non-recourse borrowings would be 6% as at December 31, 2023.
Principal repayments on non-recourse borrowings in their local currency are as follows:
US$ MILLIONS, except as notedDec. 31, 2023Local CurrencyDec. 31, 2022Local Currency
Canadian dollars$10,713 CAD$14,195 $9,115 CAD$12,348 
U.S. dollars16,365 USD16,365 8,198 USD8,198 
Indian rupees4,051 INR337,583 3,249 INR268,512 
British pounds4,561 GBP3,583 3,151 GBP2,608 
Brazilian real(1)
2,501 BRL12,106 1,543 BRL8,049 
Australian dollars611 AUD897 525 AUD771 
Colombian pesos541 COP2,088,803 405 COP1,966,019 
Peruvian soles432 PEN1,601 410 PEN1,561 
New Zealand dollars42 NZD66 80 NZD126 
Euro2,123 EUR1,923 60 EUR56 
(1)See Note 5, Disposition of Businesses, for additional information.
Disclosure of reconciliation of liabilities arising from financing activities
Details of the “Changes in liabilities from financing activities”, including both changes arising from cash flows and non-cash changes are as follows:
US$ MILLIONS2022Cash Flows
Acquisitions/
Dispositions(1)
Foreign Exchange Movement and Other2023
Corporate borrowings$3,666 $1,164 $— $81 $4,911 
Non-recourse borrowings26,567 4,490 9,084 763 40,904 
(1)Refer to Note 6. Acquisition of Businesses, for further details.