Company: BIP-PB
Filing Date: 2025-03-24
Form Type: 20-F
Source: 0001628280-25-014380
Chunk: 278

Company: Brookfield Infrastructure Partners L.P.
Filing Date: 2025-03-24
Form: 20-F
Item: Item 5
Chunk 278
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 our data segment in 2024 increased over 2023 from our construction progress at our semiconductor manufacturing foundries in the United States, and from the acquisition of hyperscale data center platforms primarily in Europe and the United States.

Brookfield Infrastructure 155

The following table presents maintenance capital expenditures by operating segment:

                                                   Annual Ongoing Estimated Maintenance Capex                                  For the year ended December 31,                      
  US$ MILLIONS                                     Low                                                      High               2024                                 2023      2022  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Maintenance capital expenditures by segment                                                                                                                                       
  Utilities                                        $                                                80      $          90      $                                    $         $     
  Transport                                        330                                                      360                328                                  179       175   
  Midstream                                        150                                                      160                162                                  152       118   
  Data                                             40                                                       50                 32                                   31        39    
                                                   $                                               600      $         660      $                                    $         $     

Maintenance capital expenditures for the year ended December 31, 2024 were $606 million, an increase of $156 million relative to the year ended December 31, 2023. 2024 maintenance capital expenditures increased at our transport segment from the timing of fleet replacement at our global intermodal logistics operation and an additional 10% interest in our Brazilian rail network.

We estimate annual maintenance capital expenditures for the upcoming year to be $80-90 million, $330-360 million, $150-160 million, and $40-50 million for our utilities, transport, midstream, and data segments, respectively, for a total range between $600-660 million prospectively. Our partnership leverages industry data and benchmarks provided by a global engineering services firm to determine the appropriate maintenance capital ranges as disclosed above.

DEPRECIATION, AMORTIZATION AND RETURN OF CAPITAL ESTIMATES

When determining the fair value, useful life and residual value of essential, long-life infrastructure investments, certain judgments and estimates are used. As a result, our partnership’s depreciation and amortization is not directly comparable to the level of capital required to maintain the structural integrity and safety of our physical assets and their operating cash flow profile. There are three distinct limitations with using our partnership’s accounting depreciation as a proxy for annual maintenance capital requirements which are as follows:

i) The partnership has elected to revalue property,