Brookfield Infrastructure Partners Q2 2024 Interim Report Filed

TL;DR

BIP dropped its Q2 2024 financials - check the statements for performance updates.

AI Summary

Brookfield Infrastructure Partners L.P. filed its Q2 2024 interim report on August 9, 2024, presenting unaudited financial statements as of June 30, 2024. The report includes consolidated statements of financial position, operating results, comprehensive income, partnership capital, and cash flows for the periods ending June 30, 2024, and June 30, 2023. Management's Discussion and Analysis is also provided.

Why It Matters

This filing provides investors with an update on Brookfield Infrastructure Partners' financial performance and position for the second quarter of 2024, allowing for assessment of recent operational results and financial health.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing, not indicating any immediate or unusual risks.

Key Players & Entities

• Brookfield Infrastructure Partners L.P. (company) — Filer of the report
• June 30, 2024 (date) — Reporting period end date
• December 31, 2023 (date) — Prior period end date for comparison
• 20240809 (date) — Filing date

FAQ

Filing Documents

• bip-20240630_d2.htm (6-K) — 3875KB
• bip-20240630.htm (EX-99.1) — 467KB
• bipq22024ex992.htm (EX-99.2) — 14KB
• bipq22024ex993.htm (EX-99.3) — 14KB
• bip-20240630_g1.jpg (GRAPHIC) — 57KB
• bip-20240630_g2.jpg (GRAPHIC) — 59KB
• bip-20240630_g3.jpg (GRAPHIC) — 62KB
• bip-20240630_g4.jpg (GRAPHIC) — 52KB
• bip-20240630_g5.jpg (GRAPHIC) — 62KB
• 0001628280-24-036535.txt ( ) — 18145KB
• bip-20240630.xsd (EX-101.SCH) — 114KB
• bip-20240630_cal.xml (EX-101.CAL) — 114KB
• bip-20240630_def.xml (EX-101.DEF) — 497KB
• bip-20240630_lab.xml (EX-101.LAB) — 857KB
• bip-20240630_pre.xml (EX-101.PRE) — 685KB
• bip-20240630_d2_htm.xml (XML) — 4028KB

From the Filing

bip-20240630_d2 Exhibit 99.1 Brookfield Infrastructure Partners L.P. Interim Report Q2 2024 UNAUDITED INTERIM CONDENSED AND CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2024 AND DECEMBER 31, 2023 AND FOR THE THREE AND SIX-MONTH PERIODS ENDED JUNE 30, 2024 AND 2023 INDEX Page Unaudited Interim Condensed and Consolidated Statements of Financial Position of Brookfield Infrastructure Partners L.P. 2 Unaudited Interim Condensed and Consolidated Statements of Operating Results of Brookfield Infrastructure Partners L.P. 3 Unaudited Interim Condensed and Consolidated Statements of Comprehensive Income of Brookfield Infrastructure Partners L.P. 4 Unaudited Interim Condensed and Consolidated Statements of Partnership Capital of Brookfield Infrastructure Partners L.P. 5 Unaudited Interim Condensed and Consolidated Statements of Cash Flows of Brookfield Infrastructure Partners L.P. 9 Notes to the Unaudited Interim Condensed and Consolidated Financial Statements of Brookfield Infrastructure Partners L.P. 10 Management's Discussion & Analysis 41 Brookfield Infrastructure Partners L.P. (our "partnership" and together with its subsidiary and operating entities "Brookfield Infrastructure") is a leading global infrastructure company that owns and operates high-quality, essential, long-life assets in the utilities, transport, midstream and data sectors across the Americas, Asia Pacific and Europe. It is focused on assets that have contracted and regulated revenues that generate predictable and stable cash flows. Brookfield Corporation (together with its affiliates other than Brookfield Infrastructure, "Brookfield") has an approximate 26.6% economic interest in Brookfield Infrastructure on a fully exchanged basis. Brookfield Infrastructure has appointed Brookfield as its Service Providers to provide certain management, administrative and advisory services, for a fee, under the Master Services Agreement. BROOKFIELD INFRASTRUCTURE PARTNERS L.P. UNAUDITED INTERIM CONDENSED AND CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of US$ MILLIONS, UNAUDITED Notes June 30, 2024 December 31, 2023 Assets Cash and cash equivalents 7 $ 1,326 $ 1,857 Financial assets 7 915 934 Accounts receivable and other 7 4,467 4,676 Inventory 477 512 Assets classified as held for sale 4 270 — Current assets 7,455 7,979 Property, plant and equipment 8 50,316 48,546 Intangible assets 9 14,187 15,845 Investments in associates and joint ventures 10 5,635 5,402 Investment properties 4,549 4,333 Goodwill 6 14,108 14,488 Financial assets 7 803 607 Other assets 3,724 3,477 Deferred income tax asset 115 107 Total assets $ 100,892 $ 100,784 Liabilities and Partnership Capital Liabilities Accounts payable and other 7 $ 5,197 $ 5,402 Corporate borrowings 7,11 986 1,517 Non-recourse borrowings 7,11 2,643 4,442 Financial liabilities 7 311 344 Liabilities directly associated with assets classified as held for sale 4 70 — Current liabilities 9,207 11,705 Corporate borrowings 7,11 4,098 3,394 Non-recourse borrowings 7,11 42,032 36,462 Financial liabilities 7 2,452 2,531 Other liabilities 5,479 4,753 Deferred income tax liability 7,495 7,903 Preferred shares 7 20 20 Total liabilities 70,783 66,768 Partnership capital Limited partners 16 4,898 5,321 General partner 16 27 28 Non-controlling interest attributable to: Redeemable Partnership Units held by Brookfield 16 2,011 2,190 BIPC exchangeable shares 16 1,411 1,533 Exchangeable units (1) 16 66 72 Perpetual subordinated notes 16 293 293 Interest of others in operating subsidiaries 20,485 23,661 Preferred unitholders 16 918 918 Total partnership capital 30,109 34,016 Total liabilities and partnership capital $ 100,892 $ 100,784 1. Includes non-controlling interest attributable to Exchange LP units and BIPC exchangeable LP units. The accompanying notes are an integral part of the financial statements. 2 BROOKFIELD INFRASTRUCTURE PARTNERS L.P. BROOKFIELD INFRASTRUCTURE PARTNERS L.P. UNAUDITED INTERIM CONDENSED AND CONSOLIDATED STATEMENTS OF OPERATING RESULTS For the three-month period ended June 30 For the six-month period ended June 30 US$ MILLIONS, UNAUDITED Notes 2024 2023 2024 2023 Revenues 14 $ 5,138 $ 4,256 $ 10,325 $ 8,474 Direct operating costs 8,9,15 ( 3,875 ) ( 3,280 ) ( 7,788 ) ( 6,509 ) General and administrative expenses ( 92 ) ( 109 ) ( 189 ) ( 212 ) 1,171 867 2,348 1,753 Interest expense ( 826 ) ( 567 ) ( 1,620 ) ( 1,135 ) Share of earnings from investments in associates and joint ventures 10 95 273 136 376 Mark-to-market (losses) gains 7 ( 42 ) 87 ( 38 ) ( 7 ) Other (expenses) income ( 133 ) 295 265 200 Income before income tax 265 955 1,091 1,187 Income tax (expense) recovery Current ( 132 ) ( 144 ) ( 294 ) ( 276 ) Deferred 51 ( 38 ) 201 5 Net income $ 184 $ 773 $ 998 $ 916 Attributable to: Limited partners $ ( 38 ) $ 186 $ 18 $ 161 General partner 73 67 147 132 Non-controlling interest attrib

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View this 6-K filing on SEC EDGAR