Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 259

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 259
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 reconciles net income per limited partnership unit, the most directly comparable IFRS measure, to FFO per unit, a non-IFRS financial metric:

                                                   For the year ended December 31,                                                    
                                                   2024                                           2023                2022            
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net income per limited partnership unit (1)      $                                    0.04      $         0.14      $         0.14  
  Add back or deduct the following:                                                                                                   
  Depreciation and amortization                    2.12                                           1.84                1.66            
  Deferred taxes and other items (2)               0.96                                           0.97                0.91            
  Per unit FFO (3)                                 $                                    3.12      $         2.95      $         2.71  

(1) During the year ended December 31, 2024, on average there were 461.6 million limited partnership units outstanding (2023: 459.4 million, 2022: 458.1 million).

(2) Refer to the reconciliation of net income attributable to the partnership to FFO above for a description of balances included within other.

(3) Average units outstanding during the year ended December 31, 2024, were 792.1 million (2023: 776.9 million, 2022: 771.2 million).

Brookfield Infrastructure 137

The following reconciles partnership capital, the most directly comparable IFRS measure, to Invested Capital, a non-IFRS financial metric:

                                                             For the year ended December 31,                                                                  
  US$ MILLIONS                                               2024                                               2023                     2022                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Partnership Capital                                        $                                      29,853      $            34,016      $            25,554  
  Remove impact of the following items since inception:                                                                                                       
  Non-controlling interest - in operating subsidiaries                                            (20,568)                 (23,661)                 (15,320)  
  Deficit                                                                                            5,674                    4,419                    3,422  
  Accumulated other comprehensive income                                                           (1,335)                  (1,161)      (817