Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 553

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 553
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93

  BROOKFIELD INFRASTRUCTURE PARTNERS L. P.                                                   
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)                                     
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  

(c) Non-controlling interest - BIPC exchangeable shares and class A.2 exchangeable shares

  MILLIONS, EXCEPT SHARE INFORMATION                        2024                                            2023                                 2022                             
                                                            Carrying Value                                  Carrying Value                       Carrying Value                   
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Opening balance                                           $                   2,512      131,872,066      $                   110,567,671      $                   110,157,540  
  Issued in conjunction with the acquisition of Triton      —                                               751                  21,094,441      —                                
  Conversions                                               2                                  179,843      4                       209,954      2                       410,131  
  Ending balance                                            $                   2,514      132,051,909      $                   131,872,066      $                   110,567,671  

(1) Includes 119,039,120 131,872,066 13,012,789 nil

In September 2023, BIPC issued approximately 21 751 Acquisition of Businesses, and Note 1, Organization and Description of the Business, for further details.

As a result of the issuance, equity was reallocated between limited partners, the general partner, non-controlling interests - Redeemable Partnership Units held by Brookfield, non-controlling interests - Exchange LP units, non-controlling interests - BIPC exchangeable LP units, and non-controlling interests - BIPC exchangeable shares to reflect the difference between the ratio in which the unit/shareholders participated in the issuance and their original economic interest in the partnership. The resulting impacts were recognized as ownership changes within the Consolidated Statements of Partnership Capital. Amounts in accumulated other comprehensive income (loss) were also ratably allocated. Refer to Note 29, Accumulated Other Comprehensive Income (Loss), for further details.

During the year ended December 31, 2024, BIPC exchangeable shareholders exchanged less than 0.2 0.2 2 3