Brookfield Infrastructure Partners L.P. Files 2023 Annual Report

TL;DR

<b>Brookfield Infrastructure Partners L.P. has submitted its 2023 annual report on Form 20-F, detailing its financial performance and operational information.</b>

AI Summary

Brookfield Infrastructure Partners L.P. (BRIPF) filed a Foreign Annual Report (20-F) with the SEC on March 18, 2024. Brookfield Infrastructure Partners L.P. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 73 Front Street, Hamilton, Bermuda. Brookfield Infrastructure Partners L.P. is classified under Water Transportation (SIC code 4400). The report includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking Brookfield Infrastructure Partners L.P., this filing contains several important signals. This filing provides investors and stakeholders with a comprehensive overview of the company's financial health, operational activities, and strategic direction for the past fiscal year. As a public document, it ensures transparency and allows for analysis of Brookfield Infrastructure Partners L.P.'s performance against industry benchmarks and its own historical data.

Risk Assessment

Risk Level: low — Brookfield Infrastructure Partners L.P. shows low risk based on this filing. The filing is a routine annual report (20-F) and does not contain immediate, significant new information that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand Brookfield Infrastructure Partners L.P.'s performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 20-F filing)
• 2024-03-18 — Filing Date (Date the 20-F was filed with the SEC)
• 197 — Public Document Count (Number of documents included in the filing)
• 001-33632 — SEC File Number (SEC file number for Brookfield Infrastructure Partners L.P.)

Key Players & Entities

• Brookfield Infrastructure Partners L.P. (company) — Filer of the 20-F report
• 73 Front Street, Hamilton, D0, HM12 (location) — Business and mailing address

FAQ

Industry Context

Brookfield Infrastructure Partners L.P. operates within the infrastructure sector, with a specific SIC code indicating involvement in Water Transportation.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically as a Form 20-F, which is an annual report required for foreign private issuers.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators for FY 2023.
2. Review the 'Risk Factors' section for any new or evolving risks impacting the company's operations.
3. Examine management's discussion and analysis (MD&A) for insights into strategic initiatives and future outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-03-18: Filing Date — The date Brookfield Infrastructure Partners L.P. submitted its annual report.

Year-Over-Year Comparison

This is the initial filing of the 2023 annual report on Form 20-F, providing the latest comprehensive financial and operational data for Brookfield Infrastructure Partners L.P.

Filing Documents

• bip-20231231.htm (20-F) — 9039KB
• bip2023ex49.htm (EX-4.9) — 339KB
• bip2023ex111.htm (EX-11.1) — 220KB
• bip2023ex121.htm (EX-12.1) — 11KB
• bip2023ex122.htm (EX-12.2) — 11KB
• bip2023ex131.htm (EX-13.1) — 5KB
• bip2023ex132.htm (EX-13.2) — 5KB
• bip2023ex151.htm (EX-15.1) — 3KB
• bip2023ex971.htm (EX-97.1) — 11KB
• bip-20231231_g1.jpg (GRAPHIC) — 541KB
• bip-20231231_g2.jpg (GRAPHIC) — 57KB
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• bip-20231231_g7.jpg (GRAPHIC) — 62KB
• image_0.jpg (GRAPHIC) — 7KB
• image_0a.jpg (GRAPHIC) — 7KB
• 0001628280-24-011576.txt (&nbsp;) — 40931KB
• bip-20231231.xsd (EX-101.SCH) — 221KB
• bip-20231231_cal.xml (EX-101.CAL) — 162KB
• bip-20231231_def.xml (EX-101.DEF) — 1138KB
• bip-20231231_lab.xml (EX-101.LAB) — 1600KB
• bip-20231231_pre.xml (EX-101.PRE) — 1482KB
• bip-20231231_htm.xml (XML) — 9221KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 6 PART I 12 Item 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 12 Item 2. OFFER STATISTICS AND EXPECTED TIMETABLE 12 Item 3. KEY INFORMATION 12 3.A [RESERVED] 12 3.B CAPITALIZATION AND INDEBTEDNESS 12 3.C REASONS FOR THE OFFER AND USE OF PROCEEDS 12 3.D

RISK FACTORS

RISK FACTORS 12 Item 4. INFORMATION ON THE COMPANY 66 4.A HISTORY AND DEVELOPMENT OF BROOKFIELD INFRASTRUCTURE 66 4.B BUSINESS OVERVIEW 72 4.C ORGANIZATIONAL STRUCTURE 103 4.D PROPERTY, PLANT AND EQUIPMENT 107 Item 4A. UNRESOLVED STAFF COMMENTS 108 Item 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 108 5.A OPERATING RESULTS 113 5.B LIQUIDITY AND CAPITAL RESOURCES 144 5.C RESEARCH AND DEVELOPMENT , PATENTS AND LICENSES, ETC. 165 5.D TREND INFORMATION 165 5.E CRITICAL ACCOUNTING ESTIMATES 167 Item 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 169 6.A DIRECTORS AND SENIOR MANAGEMENT 169 6.B COMPENSATION 177 6.C BOARD PRACTICES 178 6.D EMPLOYEES 183 6.E SHARE OWNERSHIP 183 6.F DISCLOSURE OF A REGISTRANT'S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION 183 Item 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 184 7.A MAJOR SHAREHOLDERS 184 7.B RELATED PARTY TRANSACTIONS 185 7.C INTEREST S OF EXPERTS AND COUNSEL 282 Item 8. FINANCIAL INFORMATION 283 8.A CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 283 8.B SIGNIFICANT CHANGES 283 Item 9. THE OFFER AND LISTING 283 9.A OFFER AND LISTING DETAILS 283 9.B PLAN OF DISTRIBUTION 283 9.C MARKET S 283 9.D SELLING SHAREHOLDERS 283 9.E

DILUTION

DILUTION 283 9.F EXPENSES OF THE ISSUE 283 i Item 10. ADDITIONAL INFORMATION 284 10.A SHARE CAPITAL 284 10.B MEMORANDUM AND ARTICLES OF ASSOCIATION 284 10.C MATERIAL CONTRACTS 316 10.D EXCHANGE CONTROLS 319 10.E TAXATION 319 10.F DIVIDENDS AND PAYING AGENTS 357 10.G 357 10.H DOCUMENTS ON DISPLAY 357 10. I SUBSIDIARY INFORMATION 357 10.J ANNUAL REPORT TO SECURITY HOLDERS 357 Item 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 357 Item 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 357 PART II 358 Item 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 358 Item 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 358 Item 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 358 Item 16. [RESERVED] 359 16.A AUDIT COMMITTEE FINANCIAL EXPERT 359 16. B CODE OF ETHICS 359 16. C PRINCIPAL ACCOUNTANT FEES AND SERVICES 360 16.D EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEE 360 16.E PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASER S 361 16.F CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 363 16.G CORPORATE GOVERNANCE 363 16.H MINE SAFETY DISCLOSURES 363 16.I DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 363 16.J INSIDER TRADING POLICIES 363 16.K CYBERSECURITY 364 PART III 366 Item 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 366 Item 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 366 Item 19. EXHIBITS 366 ii INTRODUCTION AND USE OF CERTAIN TERMS Unless the context requires otherwise, when used in this annual report on Form 20-F, the terms "Brookfield Infrastructure", "we", "us" and "our" refer to Brookfield Infrastructure Partners L.P., collectively with the Holding LP, the Holding Entities and the operating entities but excluding BIPC (each as defined below). References to "our group" mean, collectively, Brookfield Infrastructure Corporation and Brookfield Infrastructure. All dollar amounts contained in this annual report on Form 20-F are expressed in U.S. dollars, unless specified otherwise, and references to "dollars", "$", "US$" or "USD" are to U.S. dollars, all references to "C$" or "CAD" are to Canadian dollars, all references to "A$" or "AUD" are to Australian dollars, all references to "CLP" are to Chilean pesos, all references to "COP" are to Colombian pesos, all references to "reais", "BRL" or "R$" are to Brazilian reais, all references to "rupees", "INR" or "I$" are to Indian rupees, and all references to "UF" are to Unidad de Fomento which is an inflation indexed Chilean peso monetary unit that is set daily, on the basis of the prior month's inflation rate. In addition, all references to "" or "GBP" are to pound sterling, all references to "NZD" are to New Zealand dollars, all references to "" or "EUR" are to Euros, all references to "PEN" are to Peruvian Neuvo Sol and, unless the context suggests otherwise, references to: "Alberta Finco" are to Brookfield Infrastructure Finance ULC; "Asset Management Company" are to Brookfield Asset Management ULC, which is owned 75% by Brookfield Corporation and 25% by Brookfield Asset Management; "audit committee" are to the audit committee of our board; "AUM" are to assets under management; "Bermuda Holdco" are to BIP Bermuda Holdings I Limited; "BIPC" are to Brookfield Infrastructure Corporation; "BIPC Exchange LP" are to Brookfield Infrastructure Corpor

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report on Form 20-F contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws. These forward-looking statements and information relate to, among other things, our business, operations, objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates and anticipated events or trends. In some cases, you can identify forward-looking statements and information by terms such as "anticipate," "believe," "could," "estimate," "likely," "expect," "intend," "may," "continue," "plan," "potential," "objective," "tend," "seek," "target," "foresee," "aim to," "outlook," "endeavor," "will," "would" and "should" or the negative of those terms or other comparable terminology. These forward-looking statements and information are not historical facts but reflect our current expectations regarding future results or events and are based on information currently available to us and on assumptions we believe are reasonable. Although we believe that our anticipated future results, performance or achievements expressed or implied by these forward-looking statements and information are based on reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us or are within our control. If a change occurs, our business, financial condition, liquidity and results of operations and our plans and strategies may vary materially from those expressed in the forward-lo

View Full Filing

View this 20-F filing on SEC EDGAR