Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 386

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 386
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angible assets at our U. K. regulated distribution operation relate to customer order backlogs, which represents the present value of future earnings derived from the build out of contracted connections at the acquisition date of the U. K. regulated distribution operation.

Our intangible assets are evaluated for impairment annually or more often if events or circumstances indicate there may be impairment. Despite recent volatility observed in commodity and foreign exchange markets and the interruption to global supply chains, our intangible assets remain largely unaffected, with no impairment required during the year ended December 31, 2024. Our intangible assets represent long-term critical infrastructure supported by regulated or highly contracted revenues which help protect value over the long term.

The following table presents the change in the cost balance of intangible assets:

                                                      For the year ended                                           
  US$ MILLIONS                                        Dec. 31, 2024                      Dec. 31, 2023             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cost at beginning of the year                       $                       4,657      $                  3,629  
  Acquisitions through business combinations (1)      —                                  710                       
  Additions, net of disposals                         30                                 36                        
  Non cash additions                                  35                                 —                         
  Assets reclassified as held for sale (2)            ( 110)                             —                         
  Foreign currency translation                        ( 850)                             282                       
  Cost at end of year                                 $                       3,762      $                  4,657  

(1) See Note 5, Acquisition of Businesses, for additional information.

(2) See Note 4, Assets and Liabilities classified as Held for Sale, for additional information.

The following table presents the accumulated amortization for our company’s intangible assets:

                                                     For the year ended                                             
  US$ MILLIONS                                       Dec. 31, 2024                       Dec. 31, 2023              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Accumulated amortization at beginning of year      $                       ( 958)      $                  ( 782)  
  Amortization                                       ( 125)                              ( 113)                     
  Assets reclassified as held for sale (1)           5                                   —                          
  Foreign currency translation                       208                                 ( 63)                      
  Accumulated amortization at end of year            $                       ( 870)      $                  ( 958)