Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 385

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 385
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142

Had the assets been carried under the cost model, the carrying amount of property, plant and equipment would have been $ 11,061 12,700

NOTE 10. INTANGIBLE ASSETS

                                As of                                                   
  US$ MILLIONS                  Dec. 31, 2024                 Dec. 31, 2023             
  Cost                          $                  3,762      $                  4,657  
  Accumulated amortization      ( 870)                        ( 958)                    
  Total                         $                  2,892      $                  3,699  

Intangible assets are allocated to the following cash generating units:

                                                      As of                                                   
  US$ MILLIONS                                        Dec. 31, 2024                 Dec. 31, 2023             
  Brazilian regulated gas transmission operation      $                  2,299      $                  2,970  
  Global intermodal logistics operation (1)           576                           704                       
  U. K. regulated distribution operation              17                            25                        
  Total                                               $                  2,892      $                  3,699  

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

The intangible assets at our Brazilian regulated transmission operation relate to concession arrangements with the local energy regulator, Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (“ ANP”). Total capacity is fully contracted under long-term “ship-or-pay” gas transportation agreements (“ GTA”) and therefore, the business is exposed to no volume risk, with predefined tariffs annually adjusted by inflation. On April 8, 2021, new legislation was passed in Brazil which provides our Brazilian regulated gas transmission operation the right to operate the gas pipelines perpetually. The intangible assets are amortized on a straight-line basis over the estimated useful life of the underlying infrastructure.

The intangible asset at our global intermodal logistics operations primarily relate to customer relationships, which represent the on-going economic benefit from our leasing contracts with customers, in addition to brand, and developed technology. The intangibles are amortized on a straight-line basis over the estimated useful life.

Brookfield Infrastructure Corporation F-37

  BROOKFIELD INFRASTRUCTURE CORPORATION                                                      
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                                                 
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  

The int