Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 285

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 285
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Cash from financing activities

Cash from financing activities totaled $9.4 billion for the year ended December 31, 2023, as compared to $0.1 billion during the same period in 2022. Financing activities during the year ended December 31, 2023 included $5.7 billion of net proceeds from borrowings and $6.1 billion of net capital provided by non-controlling interests, partially offset by $1.5 billion of distributions paid to unitholders and $0.9 billion relating to other financing activities. During the year ended December 31, 2022, cash from financing activities was driven by net proceeds from borrowings of $3.6 billion, partially offset by $1.4 billion of distributions paid to unitholders, $0.5 billion of net capital provided to non-controlling interests. Prior year results also include the settlement of deferred consideration of $1.2 billion, primarily at our Brazilian regulated gas transmission business and our U. K. wireless infrastructure operation, and $0.4 billion used for the redemption of preferred units and other financing activities.

PARTNERSHIP CAPITAL

Our partnership’s capital structure is comprised of three classes of partnership units: our units, preferred units and general partnership units. Our units entitle the holder to their proportionate share of distributions. Preferred units entitle the holder to cumulative preferential cash distributions in accordance with their terms. General partnership units entitle the holder the right to govern our financial and operating policies. Our partnership controls the Holding LP, which in turn is the indirect shareholder of our operating entities, through a 70.56% managing general partner interest. As of December 31, 2024, Brookfield holds a 29.07% interest in the Holding LP through Redeemable Partnership Units and an additional 0.37% interest in the Holding LP through Special General Partner Units. In addition, Brookfield holds a 0.21% interest in our partnership through the ownership of units and BWS holds a 0.4% interest in our partnership through the ownership of units. The Redeemable Partnership Units, at the request of the holder, require the Holding LP to redeem all or a portion of the holder’s units for cash in an amount equal to the market value of our units multiplied by the number of units to be redeemed. This right is subject to our partnership’s right of first refusal which entitles it, at its sole discretion, to elect to acquire any Redeemable Partnership Unit so