Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 248

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 248
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 Adjusted EBITDA margin is a non-IFRS measure. Refer to the “ Reconciliation of Segment Adjusted EBITDA” section of this MD& A for reconciliation from net income to Adjusted EBITDA.

The following table presents our partnership’s share of Adjusted EBITDA and FFO for each business in this operating segment:

                                          Adjusted EBITDA (1)                                   FFO                       
  US$ MILLIONS                            2024                              2023      2022      2024      2023      2022  
  Data Transmission and Distribution      $                        382      $         $         $         $         $     
  Data Storage                            215                               60        42        96        33        24    
  Total                                   $                        597      $         $         $         $         $     

(1) Non-IFRS measure. Refer to the “ Reconciliation of Segment Adjusted EBITDA” section of this MD& A for a reconciliation from net income.

The following table presents the roll-forward of our partnership’s share of capital backlog and capital to be commissioned:

                                            For the year ended December 31,                                                           
  US$ MILLIONS                              2024                                               2023                  2022             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Capital backlog, start of period          $                                      4,104          $      3,756          $        394  
  Impact of (asset sales) acquisitions      (4)                                                 444                            3,634  
  Additional capital project mandates                                              1,031        438                   234             
  Less: capital expenditures                                                     (1,187)      (824)                 (470)             
  Foreign exchange and other (1)            (56)                                                290                  (36)             
  Capital backlog, end of period                                                   3,888                 4,104                 3,756  
  Construction work in progress                                                    1,829                 1,000        339             
  Total capital to be commissioned          $                                      5,717          $      5,104          $      4,095  

(1) 2023 includes approximately $275 million from an increase in our partnership with Intel.

Brookfield Infrastructure 127

2024 vs. 2023

Results for our data segment benefited from additional points-of-presence at our tower and fiber operations and the