Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 92

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 92
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 U. S. dollar, while the average exchange rate of the Brazilian real depreciated relative to the U. S. dollar.

Brookfield Infrastructure Corporation 83

Summary Financial Information Related to the Partnership

As the market price of our exchangeable shares is expected to be significantly impacted by the market price of the units and the combined business performance of our group as a whole, we are providing the following summary financial information regarding the partnership. For further details please review the partnership’s periodic reporting referenced in the introductory section of this MD& A.

  US$ MILLIONS       For the year ended December 31,                                    
  IFRS measures      2024                                             2023              
 ────────────────────────────────────────────────────────────────────────────────────────
  Revenue            $                                    21,039      $         17,931  
  Net income                                               1,683                 1,448  

  US$ MILLIONS                   As of                                                               
  IFRS measures                  December 31, 2024                   December 31, 2023               
  Total assets                                          104,590      $                      100,784  
  Total liabilities                                      74,737                              66,768  
  Total partnership capital                              29,853                              34,016  

RELATED PARTY TRANSACTIONS

In the normal course of operations, our company entered into the transactions below with related parties. The ultimate parent of our company is Brookfield. Other related parties of our company represent BN’s subsidiary and operating entities.

Since inception, Brookfield Infrastructure has had a management agreement, the Master Services Agreement, with the Service Providers which are wholly-owned subsidiaries of Brookfield.

Pursuant to the Master Services Agreement, on a quarterly basis, we, together with Brookfield Infrastructure, pay a base management fee to the Service Providers equal to 0.3125% per quarter (1.25% annually) of the combined market value of our group. Our company pays for, or reimburses the partnership for, our proportionate share of the management fee. For purposes of calculating the base management fee, the market value of our group is equal to the aggregate value of all the outstanding units (assuming full conversion of BN’s limited partnership interests in Holding LP into units), preferred units and securities of the other Service Recipients (including the Exchangeable units and exchangeable shares, calculated on a fully-diluted basis assuming full conversion of any class A.2 exchangeable shares into exchangeable shares) that are not held by Brook