Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 560

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 560
---
, 2024 and 2023.

                                  Notional Amount                                            Average             
                                  (U. S. Dollars)                                      Exchange Rate             
  US$ MILLIONS                               2024                 2023                          2024      2023   
  Foreign exchange contracts                                                                                     
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  British pounds                                $        997      $         1,081                  $      $      
  Canadian dollars                            142                 917                           0.74      0.77   
  Australian dollars                          184                 433                           0.66      0.69   
  European Union euros                        406                 433                           1.11      1.11   
  Indian rupees                               247                 126                          0.011      0.012  
  Brazilian real                              291                 —                            0.153      —      
  Other (1)                                   193                 541                              —      —      
                                                $      2,460      $         3,531                                

(1) Includes foreign exchange contracts at our operating subsidiaries intended to offset the risk associated with non-recourse borrowings in currencies other than the functional currency of the underlying operation, primarily in USD.

F-102 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  

(b) Interest Rates

At December 31, 2024, Brookfield Infrastructure held interest rate and cross currency interest rate swap contracts having an aggregate notional amount of $ 19,108 17,632 9,926 2,943 2,585 681 469

Originally, certain loans and derivatives were benchmarked against the CDOR. However, in 2024, the partnership transitioned these instruments to the CORRA. The group accounted for the change to CORRA using the practical expedient in IFRS 9, which allows the group to change the basis for determining the contractual cash flows prospectively by revising the effective interest rate.

Other Information Regarding Derivative Financial Instruments

The following table presents the notional amounts underlying Brookfield Infrastructure’s derivative instruments by term to maturity as at December 31, 2024 and