Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 230

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 230
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)                    (413)                    (433)                
  Interest expense                                                                                               (3,387)                  (2,501)                  (1,855)  
  Share of earnings from investments in associates and joint ventures                                  439                      459                       12                
  Other (expense) income                                                                              (31)                      141                      121                
  Mark-to-market                                                                                      (26)                    (118)                      173                
  Income tax expense                                                                                 (270)                    (581)                    (560)                
  Net income                                                                                                       1,683                    1,448                    1,375  
  Net income attributable to our partnership (1)                                                       391                      432                      407                
  Net income per limited partnership unit (2)                                                            $          0.04          $          0.14          $          0.14  

(1) Includes net income attributable to limited partners, the general partner, non-controlling interests - Redeemable Partnership Units held by Brookfield, non-controlling interests - Exchangeable units and non-controlling interests - BIPC exchangeable shares and class A.2 exchangeable shares.

(2) Net income per limited partnership unit has been adjusted to reflect the impact of the special distribution and unit split.

2024 vs. 2023

For the year ended December 31, 2024, we reported net income of $1,683 million, of which $391 million ($0.04 per unit) was attributable to our partnership. This compares to net income of $1,448 million for the year ended December 31, 2023, of which $432 million ($0.14 per unit) was attributable to our partnership. Current year results benefited from a full year of contributions associated with acquisitions, organic growth across our base business and the bargain purchase gain on the acquisition of a North American retail colocation data center business in the current period.

Revenues for the year ended December 31, 2024 were $21,039 million, which represents an increase of $3,108 million compared to the year ended December 31, 2023. Revenues from our data segment increased by $1,488 million, primarily due to the acquisition of a North American retail colocation data center business, a tuck-in acquisition at our Indian telecom tower portfolio and a full year contribution from the acquisition of a European hyperscale data center platform in the prior year. Revenues from our transport segment increased by $1,058 million due to