Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 378

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 378
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 including future cash flows discounted at an appropriate rate to reflect the risk inherent in the acquired assets and liabilities. The determination of the fair values may remain provisional for up to 12 months from the date of acquisition due to the time required to obtain independent valuations of individual assets and to complete assessments of provisions. When the accounting for a business combination has not been completed as at the reporting date, this is disclosed in the financial statements, including observations on the estimates and judgments made as of the reporting date.

e) Impairment of goodwill, intangibles with indefinite lives

The impairment assessment of goodwill and intangible assets with indefinite lives requires estimation of the value-in-use or fair value less costs of disposal of the cash-generating units or groups of cash generating units to which goodwill or the intangible asset has been allocated. Our company uses the following significant assumptions and estimates: the circumstances that gave rise to the goodwill, timing and amount of future cash flows expected from the cash-generating units; discount rates; terminal capitalization rates; terminal valuation dates and useful lives.

Other estimates utilized in the preparation of our company’s financial statements are: depreciation and amortization rates and useful lives; recoverable amount of goodwill and intangible assets; ability to utilize tax losses and other tax measurements.

Other judgments utilized in the preparation of our company’s financial statements include the methodologies for calculating amortization and determination of control.

F-26 Brookfield Infrastructure Corporation

  BROOKFIELD INFRASTRUCTURE CORPORATION                                                      
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS                                                 
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  

Recently adopted accounting standards

Our company applied new and revised standards issued by the IASB which are applicable to our company beginning on or after January 1, 2024. The impact of these amendments on our company’s accounting policies are as follows:

International Tax Reform - Pillar Two Model Rules (Amendments to IAS 12)

Our company operates in countries, including Canada, which have enacted new legislation to implement the global minimum top-up tax, effective from January 1, 2024. Our company has applied a temporary mandatory relief from recognizing and disclosing deferred taxes in connection with the global minimum top-up tax and will account for it as a current tax when it is incurred. There is no material current tax impact for year ended December 31, 2024. The global minimum top-up tax