Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 262

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 262
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  Share of (earnings) losses from investments in associates and joint ventures (1)              (28)             85           (97)       (28)      56             (12)                
  Adjusted EBITDA contributions from investments in associates and joint ventures (1)            138            675            242        174      —                           1,229  
  Income tax expense                                                                             357             28             48         72      55             560                 
  Mark-to-market (gains) losses                                                                 (16)           (54)           (28)        106      (181)          (173)               
  Other (income) expenses                                                                       (29)            179             32      (152)      (151)          (121)               
  Adjusted EBITDA attributable to non-controlling interests (2)                                               (819)          (709)      (669)      —                         (3,839)  
  Adjusted EBITDA                                                                                  $              $              $          $      $              $            3,032  

(1) Adjusted EBITDA contributions from investments in associates and joint ventures correspond to the adjusted EBITDA attributable to the partnership that are generated by its investments in associates and joint ventures accounted for using the equity method. Along with the removal or add back of share of (earnings) losses from investments in associates and joint ventures, these adjustments have the combined effect of excluding the impact of balances included in our definition of Adjusted EBITDA recorded within our investments in associates and joint ventures.

(2) Amounts attributable to non-controlling interests are calculated based on the economic ownership interests held by non-controlling interests in consolidated subsidiaries.

Brookfield Infrastructure 141

5. B LIQUIDITY AND CAPITAL RESOURCES

The nature of our asset base and the quality of our associated cash flows enable us to maintain a stable and low cost capital structure. We attempt to maintain sufficient financial liquidity at all times so that we are able to participate in attractive opportunities as they arise, better withstand sudden adverse changes in economic circumstances and maintain a relatively high payout of our FFO in the form of distributions to unitholders. Our principal sources of liquidity are cash flows from our operations, undrawn credit facilities, capital recycling and access to public and private capital markets. We structure the ownership of our assets to enhance our ability to monetize them to provide additional liquidity, as we have done in the past. In certain instances, subsidiaries may