Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 554

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 554
---

(d) Non-controlling interest - Exchangeable Units

  MILLIONS, EXCEPT UNIT INFORMATION      2024                                         2023                                2022                            
                                         Carrying Value                               Carrying Value                      Carrying Value                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Opening balance                        $                   393       6,086,026      $                    6,464,819      $                    7,015,032  
  Conversions                            ( 5)                         ( 347,874)      ( 8)                ( 378,793)      ( 7)                ( 550,213)  
  Ending balance                         $                   388       5,738,152      $                    6,086,026      $                    6,464,819  

During the year ended December 31, 2024, Exchange LP unitholders exchanged 0.1 0.2 0.2 2 4 2

During the year ended December 31, 2024, BIPC Exchangeable LP unitholders exchanged 0.2 0.2 0.4 3 4 5

F-94 Brookfield Infrastructure

  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  

(e) Non-controlling interest - Perpetual Subordinated Notes

                       Perpetual Subordinated Notes                                        
  US$ MILLIONS         2024                                       2023               2022  
  Opening balance      $                                 293      $         293      $     
  Issued for cash      —                                          —                  293   
  Ending balance       $                                 293      $         293      $     

On January 21, 2022, BIP Bermuda Holdings I Limited issued 12 25 5.125 293

(f) Preferred Unitholders’ Capital

  MILLIONS, EXCEPT UNIT INFORMATION      2024                                         2023                         2022                               
                                         Carrying Value                               Carrying Value               Carrying Value                     
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Opening balance