Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 229

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 229
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 Canadian diversified midstream operation. BIPC Exchangeable LP Units provide holders with economic terms that are substantially equivalent to those of a BIPC exchangeable share and are exchangeable, on a one-for-one basis, for BIPC exchangeable shares. Given the exchangeable feature, we present the BIPC Exchangeable LP Units as a component of non-controlling interests.

When we discuss the results of our operating segments, we present Brookfield Infrastructure’s share of results for operations accounted for using consolidation and the equity method, in order to demonstrate the impact of key value drivers of each of these operating segments on our partnership’s overall performance. As a result, segment revenues, costs attributable to revenues, other income, interest expense, depreciation and amortization, deferred taxes, fair value adjustments and other items will differ from results presented in accordance with IFRS as they (1) include Brookfield Infrastructure’s share of earnings (losses) from investments in associates and joint ventures attributable to each of the above noted items, and (2) exclude the share of earnings of consolidated investments not held by Brookfield Infrastructure apportioned to each of the above noted items. However, net income for each segment is consistent with results presented in accordance with IFRS.

Our presentation currency and functional currency is the U. S. dollar.

Brookfield Infrastructure 111

5. A OPERATING RESULTS

Consolidated Results

In this section we review our consolidated performance and financial position as of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022. Further details on the key drivers of our operations and financial position are contained within the “ Segmented Disclosures” section of this MD& A.

The following table summarizes the financial results of Brookfield Infrastructure for the years ended December 31, 2024, 2023 and 2022:

  US$ MILLIONS, EXCEPT PER UNIT INFORMATION                                For the year ended December 31,                                                                  
  Summary Statements of Operating Results                                                             2024                     2023                     2022                
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenues                                                                                               $        21,039          $        17,931          $        14,427  
  Direct operating costs                                                                                        (15,676)                 (13,470)                 (10,510)  
  General and administrative expenses                                                                (405