Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 237

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 237
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pee                   (25)                                               (32)               (345)               
  Australian dollar              (212)                                                15               (178)               
  Brazilian real                 (181)                                               121               167                 
  Euro                           (250)                                              (14)               (30)                
  Other                          (176)                                               276               (46)                
                                                                      (1,416)        795                          (1,365)  
  Currency hedges (1)            389                                               (495)               473                 
                                 $                                    (1,027)          $      300      $            (892)  
  Attributable to:                                                                                                         
  Unitholders                    $                                      (392)          $      119      $            (155)  
  Non-controlling interests      (635)                                               181               (737)               
                                 $                                    (1,027)          $      300      $            (892)  

(1) Includes net investment and cash flow hedges for foreign currencies of subsidiaries and associates and excludes cash flow hedges for interest rates.

The impact of foreign currency translation on partnership capital, including those attributable to non-controlling interests for the year ended December 31, 2024 was a decrease to partnership capital of $1,027 million.

We use financial contracts and locally denominated debt to hedge most foreign currency exposures. We are largely hedged against the European, British, Australian, Canadian and Indian currencies. As a result, the impact of currency movements was partially offset by gains and losses recognized on our currency hedges.

Average currency exchange rates impact revenues and net income in U. S. dollars from non-U. S. operations on a comparative basis. During the year ended December 31, 2024, the average foreign exchange rate of the major currencies we operate in weakened relative to the U. S. dollar, decreasing revenue and net income in U. S. dollars.

Brookfield Infrastructure 117

SEGMENTED DISCLOSURES

In this section, we review the results of our principal operating segments: utilities, transport, midstream, data and corporate. Key metrics and measures are presented in accordance with our partnership’s share of the underlying results, taking into account Brookfield Infrastructure’s ownership in operations accounted for using the consolidation and equity methods, whereby our partnership either controls or exercises significant influence or joint control over its investments. See the “ Reconciliation of Non-IFRS Financial Measures” section of this MD& A for a discussion of the importance