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PARTNERSHIP CAPITAL (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [abstract]  
Disclosure of classes of share capital Special General and Limited Partnership Capital
Special General Partner Units
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Carrying ValueUnitsCarrying ValueUnits
Opening balance$19 2,400,631 $19 2,400,631 
Ending balance$19 2,400,631 $19 2,400,631 
Limited Partnership Units
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Carrying ValueUnitsCarrying ValueUnits
Opening balance$6,210 461,855,350 $6,196 461,343,972 
Unit issuance5 164,617 11 343,347 
Units repurchased and cancelled(14)(1,043,911)— — 
Conversions2 105,452 3 168,031 
Ending balance$6,203 461,081,508 $6,210 461,855,350 
Non-controlling interest – Redeemable Partnership Units held by Brookfield
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Carrying ValueUnitsCarrying ValueUnits
Opening balance$2,628 190,299,956 $2,628 190,299,956 
Ending balance$2,628 190,299,956 $2,628 190,299,956 
Non-controlling interest – BIPC exchangeable shares and class A.2 exchangeable shares
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Carrying Value
Shares(1)
Carrying ValueShares
Opening balance$2,514 132,051,909 $2,512 131,872,066 
Conversions— 12,329 2 179,843 
Ending balance$2,514 132,064,238 $2,514 132,051,909 
1.Includes 119,051,449 (December 31, 2024: 119,039,120) BIPC exchangeable shares and 13,012,789 (December 31, 2024: 13,012,789) class A.2 exchangeable shares.
Non-controlling interest – Exchangeable Units
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Carrying ValueUnitsCarrying ValueUnits
Opening balance$388 5,738,152 $393 6,086,026 
Conversions(2)(117,781)(5)(347,874)
Ending balance(1)
$386 5,620,371 $388 5,738,152 
1.Includes non-controlling interest attributable to Exchange LP unitholders and BIPC exchangeable LP unitholders.
(e) Non-controlling interest - Perpetual Subordinated Notes
Perpetual Subordinated Notes
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Opening balance$293 $293 
Ending balance$293 $293 
Preferred Unitholders’ Capital
US$ MILLIONS, EXCEPT UNIT INFORMATIONAs of and for the six-month period ended June 30, 2025As of and for the 12-month period ended December 31, 2024
Carrying ValueUnitsCarrying ValueUnits
Opening balance$918 43,901,312 $918 43,901,312 
Repurchased and cancelled(96)(4,989,265)— — 
Ending balance$822 38,912,047 $918 43,901,312 
On June 30, 2025, our partnership redeemed all of its outstanding cumulative class A preferred limited partnership units, Series 1, for $90 million and recognized a gain on redemption of $6 million directly in equity.