XML 37 R13.htm IDEA: XBRL DOCUMENT v3.25.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Operating Segments [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
IFRS 8, Operating Segments, requires operating segments to be determined based on information that is regularly reviewed by the Executive Management and the Board of Directors for the purpose of allocating resources to the segment and to assess its performance. The Chief Operating Decision Maker (“CODM”) uses Funds from Operations (“FFO”) in assessing performance and in making resource allocation decisions, which enable the determination of return on the equity deployed. We define FFO as net income excluding the impact of depreciation and amortization, deferred income taxes, mark-to-market gains (losses) and other income (expenses) that are not related to the revenue earning activities and are not normal, recurring cash operating items necessary for business operations.
FFO includes balances attributable to the partnership generated by investments in associates and joint ventures accounted for using the equity method and excludes amounts attributable to non-controlling interests based on the economic interests held by non-controlling interests in consolidated subsidiaries.
FOR THE YEAR ENDED
DECEMBER 31, 2024
US$ MILLIONS		Total attributable to Brookfield Infrastructure   
Contribution
from
investments
in associates		Attributable
to non-
controlling
interest
As per
IFRS
financials(1)
UtilitiesTransportMidstreamDataCorporateTotal
Revenues(2)
$2,667 $2,505 $1,667 $903 $— $7,742 $(1,973)$15,270 $21,039 
Costs attributed to revenues(3)
(1,415)(859)(693)(306)— (3,273)580 (9,339)(12,032)
General and administrative costs
— — — — (405)(405)— — (405)
Other (expense) income
(118)(23)(5)2 198 54 59 (351)(238)
Interest expense(374)(399)(344)(266)(267)(1,650)393 (2,130)(3,387)
FFO760 1,224 625 333 (474)2,468 
Depreciation and amortization(1,681)468 (2,431)(3,644)
Deferred taxes57 (22)289 324 
Mark-to-market on hedging
items and other
(453)56 (16)(413)
Share of earnings from
associates
— 439 — 439 
Net income attributable to
non-controlling interest
— — (1,292)(1,292)
Net income attributable to
partnership(4)
$391 $— $— $391 
FOR THE YEAR ENDED
DECEMBER 31, 2023
US$ MILLIONS		Total attributable to Brookfield Infrastructure
Contribution
from
investments
in associates		Attributable
to non-
controlling
interest
As per
IFRS
financials(1)
UtilitiesTransportMidstreamDataCorporateTotal
Revenues(2)
$2,655 $2,065 $1,736 $668 $— $7,124 $(2,125)$12,932 $17,931 
Costs attributed to revenues(3)
(1,328)(830)(741)(221)— (3,120)783 (8,394)(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)
FFO879 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)
UtilitiesTransportMidstreamDataCorporateTotal
Revenues(2)
$1,872 $1,855 $1,661 $586 $— $5,974 $(2,470)$10,923 $14,427 
Costs attributed to revenues(3)
(771)(773)(724)(241)— (2,509)1,241 (7,084)(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)
FFO739 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 
(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 $8,295 million (2023: $7,862 million, 2022: $5,238 million) from our utilities segment, $4,969 million (2023: $3,897 million, 2022: $3,533 million) from our transport segment, $4,352 million (2023: $4,205 million, 2022: $3,957 million) from our midstream segment and $3,423 million (2023: $1,967 million, 2022: $1,699 million) from our data segment.
(3)Costs attributed to revenues exclude depreciation and amortization expense. Refer to Note 24, Direct Operating Costs, for further details.
(4)Includes net income attributable to limited partners, the general partner, non-controlling interests - Redeemable Partnership Units held by Brookfield, non-controlling interests - Exchange LP Units, non-controlling interests - BIPC exchangeable LP units and non-controlling interests - BIPC exchangeable shares and class A.2 exchangeable shares.
Segment assets
For the purpose of monitoring segment performance and allocating resources between segments, the CODM monitors the assets, including investments accounted for using the equity method, attributable to each segment.
The following is an analysis of Brookfield Infrastructure’s assets by reportable operating segment:
Total Attributable to Brookfield Infrastructure    
Contribution
from
investments
in associates		Attributable
to non-
controlling
interest		Working
capital
adjustment
and other
As per IFRS financials(1)
AS AT
DECEMBER 31, 2024 US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateBrookfield
Infrastructure
Total assets$8,911 $11,720 $9,658 $9,358 $(2,731)$36,916 $(7,534)$66,461 $8,747 $104,590 
 Total Attributable to Brookfield Infrastructure    
Contribution
from
investments
in associates		Attributable
to non-
controlling
interest		Working
capital
adjustment
and other
As per
IFRS
financials(1)
AS AT
DECEMBER 31, 2023 US$ MILLIONS		UtilitiesTransportMidstreamDataCorporateBrookfield
Infrastructure
Total assets$9,035 $11,840 $9,918 $7,511 $(2,480)$35,824 $(7,580)$62,732 $9,808 $100,784 
(1)The above table provides each segment’s assets in the format that management organizes its reporting segments to make operating decisions and assess performance. Each segment is presented based on our partnership’s share of total assets, taking into account Brookfield Infrastructure’s ownership in operations using consolidation and the equity method whereby our partnership either controls or exercises significant influence over the investment, respectively. The above table reconciles Brookfield Infrastructure’s share of total assets to total assets presented on our partnership’s Consolidated Statements of Financial Position by removing net liabilities contained within investments in associates and joint ventures and reflecting the assets attributable to non-controlling interests, and adjusting for working capital assets which are netted against working capital liabilities.
Geographic Information
Revenues from external customers
Substantially all of our partnership’s revenues are recognized over time as services are rendered. The following table disaggregates revenues by geographical region:
US$ MILLIONS202420232022
United States$5,098 $4,175 $2,840 
Canada4,763 4,611 4,438 
India2,518 1,945 1,878 
United Kingdom2,417 2,194 1,604 
Brazil1,416 1,522 1,538 
Colombia1,153 996 900 
France749 442 — 
Australia543 678 666 
Germany312 185 107 
Other2,070 1,183 456 
$21,039 $17,931 $14,427 
Brookfield Infrastructure’s customer base is comprised predominantly of investment grade companies. Our revenues are well diversified by region and counterparty. For the year ended December 31, 2024, no customer made up greater than 10% of our partnership’s consolidated revenues. For 2023 no customer made up greater than 10% of our partnership’s consolidated revenues and for 2022, one customer within the utilities and data segments generated greater than 10% of our partnership’s consolidated revenues of $1,501 million. Our partnership has completed a review of the credit risk of key counterparties. Based on their liquidity position, business performance, and aging of our accounts receivable, we do not have any significant changes in expected credit losses at this time.
Non-current assets
US$ MILLIONS20242023
Canada$21,519 $23,114 
United States22,106 17,702 
United Kingdom11,902 11,535 
India11,816 9,669 
Brazil5,216 5,237 
France5,017 5,153 
Australia3,258 3,826 
Switzerland1,897 2,197 
Singapore2,092 1,687 
Colombia1,175 1,288 
Other8,985 11,397 
$94,983 $92,805