Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 496

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 496
---
 considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Brookfield Infrastructure F-5

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Deloitte LLP

Chartered Professional Accountants

Licensed Public Accountants

Toronto, Canada

March 21, 2025

F-6 Brookfield Infrastructure

  BROOKFIELD INFRASTRUCTURE PARTNERS L. P.       
  CONSOLIDATED STATEMENTS OF FINANCIAL POSITION  

  US$ MILLIONS                                                                                Notes      As of December 31,                   As of December 31,               
                                                                                                                       2024                   2023                             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Assets                                                                                                                                                                       
  Cash and cash equivalents                                                                   8, 9                        $        2,071      $                         1,857  
  Financial assets                                                                            8, 10                     669                   934                              
  Accounts receivable and other                                                               8, 11                                4,455                                4,676  
  Inventory                                                                                   12                        454                   512                              
  Assets classified as held for sale                                                          6                                    1,958      —                                
  Current assets                                                                                                                   9,607                                7,979  
  Property