Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 548

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 548
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 Brookfield Infrastructure LLC (“ BI LLC”) under the equity method except for Brookfield Infrastructure US Holdings I Corporation’s (“ US Holdco”) investment in BI LLC, which is presented on a combined basis as BI LLC is a guarantor of the notes issued after July 27, 2023. For the years ended December 31, 2024, and 2023, the presentation of US Holdco’s investment in BI LLC on a combined basis was equivalent to its presentation under the equity method.

(4) Includes elimination of intercompany transactions and balances necessary to present our partnership on a consolidated basis.

(5) Includes non-controlling interest attributable to Exchange LP Units and BIPC Exchangeable LP Units. Refer to Note 1, Organization and Description of the Business, for further details.

NOTE 22. PREFERRED SHARES

As at December 31, 2024, Brookfield Infrastructure Holdings (Canada) Inc., Brookfield Infrastructure US Holdings I Corporation and BIP Bermuda Holdings I Limited (wholly owned subsidiaries of Brookfield Infrastructure) have issued 196,000 1 400,000 5 5 10 25 5 6 no nil

NOTE 23. INTEREST EXPENSE

  US$ MILLIONS                             2024                 2023                 2022             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Interest on corporate facility           $            57      $            32      $            11  
  Interest on corporate debt               210                  179                  118              
  Interest on non-recourse borrowings                2,772                2,043                1,470  
  Other financing fees (1)                 348                  247                  256              
                                           $         3,387      $         2,501      $         1,855  

(1) Other financing fees primarily relate to interest expense associated with leases in connection with IFRS 16.

Brookfield Infrastructure F-79

  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  

NOTE 24. DIRECT OPERATING COSTS

Direct operating costs are costs incurred to earn revenue and include all attributable expenses. The following table lists direct operating