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FINANCIAL LIABILTIES (Tables) | 12 Months Ended
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Dec. 31, 2021
Financial Instruments [Abstract] |
Disclosure of financial liabilities |
|  |  |  | As of
US$ MILLIONS |  |  |  | Dec. 31, 2021 |  | Dec. 31, 2020
Current: |  |  |  |  |  |
Inflation swaps |  |  |  | $ | — |  |  | $ | 23 |
Deferred consideration |  | (a) |  | 995 |  |  | — |
Total current financial liabilities |  |  |  | $ | 995 |  |  | $ | 23 |
Non-current: |  |  |  |  |  |
Inflation swaps |  |  |  | $ | — |  |  | $ | 46 |
Deferred consideration |  | (a) |  | — |  |  | 962 |
Total non-current financial liabilities |  |  |  | $ | — |  |  | $ | 1,008 |
The following table provides a continuity schedule of outstanding exchangeable shares and class B shares along with our corresponding liability and remeasurement gains and losses.
| Exchangeable shares outstanding (Shares) |  | Class B shares outstanding (Shares) |  |  |  | Exchangeable and class B shares (US$ Millions)
Balance at January 1, 2020 | — |  |  | — |  |  |  |  | $ | — |
Share issuance(1) | 46,349,323 |  |  | 1 |  |  |  |  | 1,765 |
Shares exchanged to units | (1,388,874) |  |  | — |  |  |  |  | (55) |
Remeasurement of liability | — |  |  | — |  |  |  |  | 511 |
Balance at December 31, 2020 | 44,960,449 |  |  | 1 |  |  |  |  | $ | 2,221 |
Share issuance(1) | 28,130,103 |  |  | — |  |  |  |  | 1,776 |
Share issuance - BIPC Exchangeable LP Unit exchanges | 371,327 |  |  | — |  |  |  |  | 23 |
Shares exchanged to units | (24,366) |  |  | — |  |  |  |  | (1) |
Remeasurement of liability | — |  |  | — |  |  |  |  | 447 |
Balance at December 31, 2021 | 73,437,513 |  |  | 1 |  |  |  |  | $ | 4,466 |
(1) During the year ended December 31, 2021, our company issued 2.1 million shares in exchange for net cash consideration of $128 million. The remaining shares were issued to subsidiaries of the partnership in exchange for non-cash consideration including loans receivable and settlements of loan payable.

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