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v3.25.1

BORROWINGS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Financial Instruments [Abstract] |
Disclosure of detailed information about borrowings |
|  | Maturity(2) |  | Annual Rate(2) |  | Currency |  | 2024 |  | 2023
Corporate revolving credit facility |  | June 29, 2029 |  | SOFR plus 1.2% |  | US$ |  | $ | 300 |  |  | $ | 222 |
Commercial Paper |  | January 28, 2025 |  | 5.0% |  | US$ |  | 850 |  |  | 989 |
Current: |  |  |  |  |  |  |  |  |  |
Medium Term Notes(1): |  |  |  |  |  |  |  |  |  |
Public - Canadian(3) |  | February 22, 2024 |  | 3.3% |  | C$ |  | — |  |  | 226 |
Public - Canadian(3) |  | February 22, 2024 |  | 3.3% |  | C$ |  | — |  |  | 302 |
Non-Current: |  |  |  |  |  |  |  |  |  |
Medium Term Notes(1): |  |  |  |  |  |  |  |  |  |
Public - Canadian |  | November 14, 2027 |  | 5.6% |  | C$ |  | 313 |  |  | 340 |
Public - Canadian |  | September 11, 2028 |  | 4.2% |  | C$ |  | 487 |  |  | 528 |
Public - Canadian |  | October 9, 2029 |  | 3.4% |  | C$ |  | 487 |  |  | 528 |
Public - Canadian |  | July 27, 2030 |  | 5.7% |  | C$ |  | 348 |  |  | 377 |
Public - Canadian |  | September 1, 2032 |  | 2.9% |  | C$ |  | 348 |  |  | 377 |
Public - Canadian |  | February 14, 2033 |  | 6.0% |  | C$ |  | 174 |  |  | 189 |
Public - Canadian |  | April 25, 2034 |  | 5.4% |  | C$ |  | 278 |  |  | 302 |
Public - Canadian |  | April 25, 2052 |  | 5.8% |  | C$ |  | 139 |  |  | 151 |
Public - Canadian |  | July 27, 2053 |  | 6.0% |  | C$ |  | 139 |  |  | 151 |
Subordinated notes(1) |  |  |  |  |  |  |  |  |  |
Public - United States |  | March 15, 2055 |  | 6.8% |  | US$ |  | 300 |  |  | — |
Public - United States |  | May 24, 2081 |  | 5.0% |  | US$ |  | 250 |  |  | 250 |
Public - United States |  | May 31, 2084 |  | 7.3% |  | US$ |  | 158 |  |  | — |
|  |  |  |  |  |  |  | 4,571 |  |  | 4,932 |
Deferred financing costs and other |  |  |  |  |  |  |  | (29) |  |  | (21) |
Total |  |  |  |  |  |  |  | $ | 4,542 |  |  | $ | 4,911 |
(1)See Note 21, 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, 2024. (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$ MILLIONS |  | 2024 |  | 2023
Current |  | $ | 2,838 |  |  | $ | 4,442 |
Non-current |  | 43,714 |  |  | 36,462 |
Total |  | $ | 46,552 |  |  | $ | 40,904 |
Principal repayments on non-recourse borrowings due over the next five years and thereafter are as follows:
US$ MILLIONS |  | Utilities |  | Transport |  | Midstream |  | Data |  | Total
2025(1) |  | $ | 1,080 |  |  | $ | 571 |  |  | $ | 1,082 |  |  | $ | 283 |  |  | $ | 3,016 |
2026 |  | 1,020 |  |  | 1,169 |  |  | 422 |  |  | 2,041 |  |  | 4,652 |
2027 |  | 1,250 |  |  | 1,143 |  |  | 1,453 |  |  | 822 |  |  | 4,668 |
2028 |  | 1,894 |  |  | 729 |  |  | 586 |  |  | 1,255 |  |  | 4,464 |
2029 |  | 1,788 |  |  | 2,637 |  |  | 635 |  |  | 1,295 |  |  | 6,355 |
Thereafter |  | 6,655 |  |  | 5,569 |  |  | 7,352 |  |  | 4,650 |  |  | 24,226 |
Total principal repayments |  | 13,687 |  |  | 11,818 |  |  | 11,530 |  |  | 10,346 |  |  | 47,381 |
Deferred financing costs and other |  | (101) |  |  | (499) |  |  | (18) |  |  | (211) |  |  | (829) |
Total - Dec. 31, 2024 |  | $ | 13,586 |  |  | $ | 11,319 |  |  | $ | 11,512 |  |  | $ | 10,135 |  |  | $ | 46,552 |
Total - Dec. 31, 2023 |  | $ | 11,772 |  |  | $ | 11,710 |  |  | $ | 11,154 |  |  | $ | 6,286 |  |  | $ | 40,904 |
(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) |  | Transport |  | Midstream |  | Data |  | Total
Dec. 31, 2024 |  | 7 | % |  | 5 | % |  | 6 | % |  | 6 | % |  | 6 | %
Dec. 31, 2023 |  | 8 | % |  | 5 | % |  | 5 | % |  | 7 | % |  | 6 | %
(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, 2024. Principal repayments on non-recourse borrowings in their local currency are as follows:
US$ MILLIONS, except as noted |  | Dec. 31, 2024 |  | Local Currency |  | Dec. 31, 2023 |  | Local Currency
U.S. dollars |  | $ | 18,807 |  |  | USD |  | $ | 18,807 |  |  | $ | 16,365 |  |  | USD |  | $ | 16,365 |
Canadian dollars |  | 10,133 |  |  | CAD |  | 14,574 |  |  | 10,713 |  |  | CAD |  | 14,195 |
Indian rupees |  | 5,470 |  |  | INR |  | 467,521 |  |  | 4,051 |  |  | INR |  | 337,583 |
British pounds |  | 4,607 |  |  | GBP |  | 3,681 |  |  | 4,561 |  |  | GBP |  | 3,583 |
Brazilian real(1) |  | 3,999 |  |  | BRL |  | 24,762 |  |  | 2,501 |  |  | BRL |  | 12,106 |
Euro |  | 2,876 |  |  | EUR |  | 2,778 |  |  | 2,123 |  |  | EUR |  | 1,923 |
Australian dollars |  | 893 |  |  | AUD |  | 1,443 |  |  | 611 |  |  | AUD |  | 897 |
Colombian pesos |  | 559 |  |  | COP |  | 2,462,758 |  |  | 541 |  |  | COP |  | 2,088,803 |
Peruvian soles |  | — |  |  | PEN |  | — |  |  | 432 |  |  | PEN |  | 1,601 |
New Zealand dollars |  | 37 |  |  | NZD |  | 66 |  |  | 42 |  |  | NZD |  | 66 |
(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$ MILLIONS |  | 2023 |  | Cash Flows |  | Acquisitions/ Dispositions(1) |  | Held for Sale(2) |  | Foreign Exchange Movement and Other |  | 2024
Corporate borrowings |  | $ | 4,911 |  |  | $ | (144) |  |  | $ | — |  |  | $ | — |  |  | $ | (225) |  |  | $ | 4,542 |
Non-recourse borrowings |  | 40,904 |  |  | 8,715 |  |  | 478 |  |  | (1,197) |  |  | (2,348) |  |  | 46,552 |
(1)Refer to Note 7. Acquisition of Businesses, for further details.

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