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FINANCIAL LIABILTIES (Tables)

12 Months Ended

Dec. 31, 2021


		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.