Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 559

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 559
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 the TSX and the NYSE under the symbol “ BIPC”.

NOTE 35. DERIVATIVE FINANCIAL INSTRUMENTS

Brookfield Infrastructure’s activities expose it to a variety of financial risks, including market risk (i. e. currency risk, interest rate risk, commodity risk and other price risk), credit risk and liquidity risk. Brookfield Infrastructure and its subsidiaries selectively use derivative financial instruments principally to manage these risks.

Brookfield Infrastructure F-101

  BROOKFIELD INFRASTRUCTURE PARTNERS L. P.                                                   
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                                     
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  

The aggregate notional amount of Brookfield Infrastructure’s derivative positions at December 31, 2024 and 2023 were as follows:

  US$ MILLIONS                        Note      2024                  2023              
 ────────────────────────────────────────────────────────────────────────────────────────
  Foreign exchange contracts          (a)       $          2,460      $          3,531  
  Interest rates swaps and other      (b)                 19,108                17,632  
  Commodity contracts                           36                    113               
                                                $         21,604      $         21,276  

The following table presents the change in fair values of Brookfield Infrastructure’s derivative positions during the years ended December 31, 2024 and 2023:

  US$ MILLIONS                             Unrealized Gains               Unrealized Losses                  Net Change During 2024      Net Change During 2023              
                                           During 2024                    During 2024                                                                                        
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Foreign exchange derivatives             $                      90      $                       ( 11)      $                           $                           ( 115)  
  Interest rate and other derivatives      361                            ( 360)                             1                           ( 397)                              
  Commodity derivatives                    1                              ( 21)                              ( 20)                       ( 4)                                
                                           $                     452      $                      ( 392)      $                           $                           ( 516)  

(a) Foreign Exchange

Brookfield Infrastructure held the following foreign exchange contracts with notional amounts at December 31