Company: BIPC
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014377
Chunk: 391

Company: Brookfield Infrastructure Corp
Filing Date: 2025-03-24
Form: 20-F
Item: Item 19
Chunk 391
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Prior to the Arrangement, although class C shares were classified as financial liabilities due to their cash redemption feature, the class C shares met certain qualifying criteria under IAS 32 and were presented as equity. Following the Arrangement and upon consolidation of BIHC into our company, the class C shares are presented as financial liabilities. As a result, the $ 392

As part of the Arrangement, our company issued 31,909 1

In September 2023, our company issued 9 37.64 339

Brookfield Infrastructure Corporation F-49

  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  

NOTE 20. INCOME TAXES

Income taxes are recognized for the amount of taxes payable by our company and its corporate subsidiaries, and for the impact of deferred tax assets and liabilities related to such subsidiaries.

(a) Deferred Income Tax Balances

The sources of deferred income tax balances are as follows:

                                                                    As of December 31,                                            
  US$ MILLIONS                                                      2024                                  2023                    
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Deferred income tax assets                                                                                                      
  Financial instruments and other                                   $                             20      $                   18  
  Tax losses carried forward                                        35                                    38                      
                                                                    $                             55      $                   56  
  Deferred income tax liabilities                                                                                                 
  Long-lived assets                                                 $                       ( 2,003)      $             ( 2,151)  
  Net deferred income tax liabilities                               $                       ( 1,948)      $             ( 2,095)  
  Reflected in the statement of financial position as follows:                                                                    
  Deferred tax assets                                               $                             37      $                   40  
  Deferred tax liabilities                                          ( 1,985)                              ( 2,135)                
  Net deferred tax liabilities                                      $                       ( 1,948)      $             ( 2,095)  

The deferred tax asset related to losses available for carry forward includes $ 35 38

The sources of deferred income tax balances and movements are as follows:

                                                                                                    Recognized in                                                                           
  US$ MILLIONS                                                                    Jan. 1, 2024      Net                          Other