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INVESTMENTS IN ASSOCIATES (Tables) | 12 Months Ended
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Dec. 31, 2023
Interests In Other Entities [Abstract] |
Change in balance of investment | The following table represents the change in balance of investments in associates:
|  | For the year ended
US$ MILLIONS |  | Dec. 31, 2023 |  | Dec. 31, 2022 |  |
Balance at the beginning of the period |  | $ | 428 |  |  | $ | — |  |  |
Acquisitions |  | — |  |  | 455 |  |  |
Share of (losses) earnings for the year |  | (20) |  |  | 4 |  |  |
Foreign currency translation & other |  | 25 |  |  | (25) |  |  |
Share of other comprehensive (loss) income |  | (27) |  |  | 27 |  |  |
Distributions |  | (3) |  |  | (33) |  |  |
Disposition of interest |  | (403) |  |  | — |  |  |
Ending Balance |  | $ | — |  |  | $ | 428 |  |  |
Disclosure of associates | The following table presents the gross assets and liabilities of our company’s investments in associates as at December 31, 2022:
|  |  |  | As at December 31, 2022
|  |  |  | Total |  | Attributable to
US$ MILLIONS |  | Ownership Interest |  | Current Assets |  | Non- Current Assets |  | Total Assets |  | Current Liabilities |  | Non- Current Liabilities |  | Total Liabilities |  | Total Net Assets |  | Other Ownership Interests |  | Brookfield Infrastructure Partners LP
Australian regulated utility |  | 8% |  | $ | 211 |  |  | $ | 13,330 |  |  | $ | 13,541 |  |  | $ | 302 |  |  | $ | 7,716 |  |  | $ | 8,018 |  |  | $ | 5,523 |  |  | $ | 5,095 |  |  | $ | 428 |
Total |  |  |  | $ | 211 |  |  | $ | 13,330 |  |  | $ | 13,541 |  |  | $ | 302 |  |  | $ | 7,716 |  |  | $ | 8,018 |  |  | $ | 5,523 |  |  | $ | 5,095 |  |  | $ | 428 |
The following tables present the gross amounts of revenue, net income, other comprehensive income from our company’s investments in associates:
|  | Year ended December 31, 2023
|  | Total |  | Net income attributable to the Partnership(1)
US$ MILLIONS |  | Revenue |  | Net Income |  | OCI |  | Total Comprehensive Income |
Australian regulated utility |  | $ | 1,008 |  |  | $ | 99 |  |  | $ | (375) |  |  | $ | (276) |  |  | $ | (20) |
Total |  | $ | 1,008 |  |  | $ | 99 |  |  | $ | (375) |  |  | $ | (276) |  |  | $ | (20) |
(1)Our company’s share of net income for the year ended December 31, 2023 includes $28 million of accumulated currency translation losses which were reclassified from accumulated other comprehensive income to the consolidated statement of operating results on disposition of our company’s interest in AusNet.
|  | Year ended December 31, 2022
|  | Total |  | Net income attributable to the Partnership
US$ MILLIONS |  | Revenue |  | Net Income(1) |  | OCI |  | Total Comprehensive Income |
Australian regulated utility |  | $ | 1,227 |  |  | $ | 57 |  |  | $ | 21 |  |  | $ | 78 |  |  | $ | 4 |
Total |  | $ | 1,227 |  |  | $ | 57 |  |  | $ | 21 |  |  | $ | 78 |  |  | $ | 4 |
(1)Total net income for the year ended December 31, 2022 includes acquisition-related transaction costs of $105 million. The following tables present the cash flow activities of our company’s investments in associates for the years ended:
|  | Year ended December 31, 2023
|  | Total |  | Attributable to
US$ MILLIONS |  | Operating |  | Investing |  | Financing |  | Total Cash Flows |  | Other Ownership Interests |  | Brookfield Infrastructure Partners LP
Australian regulated utility |  | $ | 380 |  |  | $ | (395) |  |  | $ | 1 |  |  | $ | (14) |  |  | $ | (13) |  |  | $ | (1) |
Total |  | $ | 380 |  |  | $ | (395) |  |  | $ | 1 |  |  | $ | (14) |  |  | $ | (13) |  |  | $ | (1) |
|  | Year ended December 31, 2022
|  | Total |  | Attributable to
US$ MILLIONS |  | Operating |  | Investing |  | Financing |  | Total Cash Flows |  | Other Ownership Interests |  | Brookfield Infrastructure Partners LP
Australian regulated utility |  | $ | 427 |  |  | $ | (452) |  |  | $ | (162) |  |  | $ | (187) |  |  | $ | (172) |  |  | $ | (15) |
Total |  | $ | 427 |  |  | $ | (452) |  |  | $ | (162) |  |  | $ | (187) |  |  | $ | (172) |  |  | $ | (15) |

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