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BORROWINGS | 6 Months Ended
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Jun. 30, 2026
Financial Instruments [Abstract] |
BORROWINGS | BORROWINGS a)Corporate Borrowings Brookfield Infrastructure has a $2.2 billion senior unsecured revolving credit facility used for general working capital purposes including acquisitions. The $2.2 billion is available on a revolving basis for the full term of the facility. All amounts outstanding under this facility will be repayable on June 29, 2031. All obligations of Brookfield Infrastructure under the facility are guaranteed by our partnership. Loans under this facility accrue interest at a floating rate based on SOFR plus 1.2%. Brookfield Infrastructure is required to pay an unused commitment fee under the facility of 13 basis points per annum. As at June 30, 2026, draws on the credit facility were $700 million (December 31, 2025: $nil) and $11 million of letters of credit were issued (December 31, 2025: $11 million).
| Maturity |  | Annual Rate |  | Currency |  | As of |
June 30, 2026 |  | December 31, 2025 |
Corporate revolving credit facility | June 29, 2031 |  | SOFR plus 1.2% |  | US$ |  | $ | 700 |  |  | $ | — |  |
Commercial paper(1) | July 27, 2026 |  | 4.1% |  | US$ |  | 467 |  |  | 735 |  |
Non-current: |  |  |  |  |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |  |  |  |  |
Public - Canadian | November 14, 2027 |  | 5.6% |  | C$ |  | 317 |  |  | 328 |  |
Public - Canadian | September 11, 2028 |  | 4.2% |  | C$ |  | 493 |  |  | 510 |  |
Public - Canadian | October 9, 2029 |  | 3.4% |  | C$ |  | 493 |  |  | 510 |  |
Public - Canadian | July 27, 2030 |  | 5.7% |  | C$ |  | 352 |  |  | 364 |  |
Public - Canadian | January 6, 2031 |  | 3.7% |  | C$ |  | 264 |  |  | 273 |  |
Public - Canadian | September 1, 2032 |  | 2.9% |  | C$ |  | 352 |  |  | 364 |  |
Public - Canadian | February 14, 2033 |  | 6.0% |  | C$ |  | 176 |  |  | 182 |  |
Public - Canadian | April 25, 2034 |  | 5.4% |  | C$ |  | 281 |  |  | 291 |  |
Public - Canadian | September 24, 2035 |  | 4.5% |  | C$ |  | 229 |  |  | 237 |  |
Public - Canadian | April 25, 2052 |  | 5.8% |  | C$ |  | 141 |  |  | 146 |  |
Public - Canadian | July 27, 2053 |  | 6.0% |  | C$ |  | 141 |  |  | 146 |  |
Subordinated notes: |  |  |  |  |  |  |  |  |  |
Public - United States | March 15, 2055 |  | 6.8% |  | US$ |  | 300 |  |  | 300 |  |
Public - Canadian | September 1, 2055 |  | 5.6% |  | C$ |  | 177 |  |  | 183 |  |
Public – United States | May 24, 2081 |  | 5.0% |  | US$ |  | 250 |  |  | 250 |  |
Public – United States | May 31, 2084 |  | 7.3% |  | US$ |  | 158 |  |  | 158 |  |
|  |  |  |  |  |  | 5,291 |  |  | 4,977 |  |
Deferred financing costs and other |  |  |  |  |  |  | (28) |  |  | (30) |  |
Total |  |  |  |  |  |  | $ | 5,263 |  |  | $ | 4,947 |  |
1.Maturity and annual rate associated with our commercial paper program represents a weighted average of all outstanding obligations as of June 30, 2026. On September 24, 2025, Brookfield Infrastructure Finance ULC issued C$375 million of medium-term notes maturing January 6, 2031, with an initial coupon of 3.7%. On September 24, 2025, Brookfield Infrastructure Finance ULC issued C$325 million of medium-term notes maturing September 24, 2035, with an initial coupon of 4.5%. On May 16, 2025, Brookfield Infrastructure Finance ULC issued C$250 million of fixed-to-fixed reset rate subordinated notes maturing September 1, 2055, with an initial coupon of 5.6%, until September 1, 2030, resetting every five years thereafter at the five-year Government of Canada Yield, plus a 2.7% spread, provided that the rate will not reset below 5.6%. Brookfield Infrastructure has entered into a $1 billion revolving credit facility with Brookfield to provide additional liquidity for general corporate purposes and capital expenditures, if required. The revolving credit facility automatically renews for consecutive one-year terms, and the maturity date is automatically extended, on February 8 each year, unless terminated prior to the relevant renewal date. Brookfield has the option to terminate the agreement prior to February 8 each year by providing Brookfield Infrastructure with a written notice. Loans under this facility accrue interest on SOFR plus 1.9% and no commitment fees are incurred for any undrawn balance. As of June 30, 2026, there were $nil (December 31, 2025: $nil) borrowings outstanding. The increase in corporate borrowings during the six-month period ended June 30, 2026, is primarily attributable to the draw on the corporate credit facility of $700 million, partially offset by net commercial paper redemptions of $268 million. b)Non-Recourse Borrowings
| As of
US$ MILLIONS | June 30, 2026 |  | December 31, 2025
Current | $ | 3,774 |  |  | $ | 6,013 |
Non-current | 53,428 |  |  | 53,538 |
Total | $ | 57,202 |  |  | $ | 59,551 |
Non-recourse borrowings decreased during the six-month period ended June 30, 2026 due to the disposition of subsidiaries within our U.S. bulk fiber network and our U.K. rail operation, the classification of a subsidiary of our global intermodal logistics operation as held for sale and the impact of foreign exchange. These decreases were partially offset by additional borrowings at our operating subsidiaries to fund ongoing capital investment

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