Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 389

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 389
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 B shares are classified as liabilities due to their cash redemption feature. However, class B shares, the most subordinated class of all common shares, meet certain qualifying criteria and are presented as equity instruments given the narrow scope presentation exceptions existing in IAS 32. Refer to Note 19, Equity, for further details related to class B shares.

NOTE 15. BORROWINGS

(a)Non-Recourse Borrowings

The current and non-current balances of non-recourse borrowings are as follows:

                    As of                                                     
  US$ MILLIONS      Dec. 31, 2024                  Dec. 31, 2023              
  Current           $                     667      $                   1,021  
  Non-current                          11,511                         11,007  
  Total             $                  12,178      $                  12,028  

Brookfield Infrastructure Corporation F-43

  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  

Non-recourse borrowings increased as compared to December 31, 2023 due to incremental net borrowings of $ 2.1 1.2 0.8

Principal repayments on non-recourse borrowings due over the next five years and thereafter are as follows:

  US$ MILLIONS                            Total               
  2025                                    $              781  
  2026                                                 1,321  
  2027                                    698                 
  2028                                    846                 
  2029                                                 3,175  
  Thereafter                                           5,814  
  Total principal repayments                          12,635  
  Deferred financing costs and other      ( 457)              
  Total - Dec. 31, 2024                   $           12,178  
  Total - Dec. 31, 2023                   $           12,028  

The weighted average interest rates of non-recourse borrowings are as follows:

                                       As of December 31,            
                                                     2024      2023  
 ─────────────────────────────────────────────────────────────────────
  Weighted average interest rates                       6         5  

Principal repayments on non-recourse borrowings in their local currency are as follows:

  US$ MILLIONS, except as noted