INVESTMENTS IN ASSOCIATES

12 Months Ended

Dec. 31, 2022

Interests In Other Entities [Abstract]

The following table represents the change in balance of investments in associates:


	For the year ended
US$ MILLIONS	Dec. 31, 2022
Balance at the beginning of the period	$	—
Acquisitions	455
Share of earnings	4
Foreign currency translation & other	(25)
Share of other comprehensive income	27
Distributions	(33)
Ending Balance	$	428

In February 2022, our company acquired an approximate 8% interest in an Australian regulated utility, AusNet Services Ltd (“AusNet”) for $455 million. Based on our ownership interest and governance rights retained, our company equity accounts for the entity.

The following tables present the gross assets and liabilities of our company’s investments in associates:


		As at December 31, 2022
		Total														Attributable to
US$ MILLIONS	Ownership Interest	Current Assets		Non- Current Assets		Total Assets		Current Liabilities		Non- Current Liabilities		Total Liabilities		Total Net Assets		Other Ownership Interests		Brookfield Infrastructure Partners LP
Australian regulated utility	8%	$	211	$	13,330	$	13,541	$	302	$	7,716	$	8,018	$	5,523	$	5,095	$	428
Total		$	211	$	13,330	$	13,541	$	302	$	7,716	$	8,018	$	5,523	$	5,095	$	428

The following tables present the gross amounts of revenue, net income, other comprehensive income from our company’s investments in associates:


	Year ended December 31, 2022
	Total								Net income attributable to the Partnership
US$ MILLIONS	Revenue		Net Income(1)		OCI		Total Comprehensive Income
Australian regulated utility	$	1,227	$	57	$	21	$	78	$	4
Total	$	1,227	$	57	$	21	$	78	$	4

(1)Total net income for the year ended December 31, 2022 includes acquisition-related transaction costs of $105 million.

The following tables present the cash flow activities of our company’s investments in associates for the years ended:


	Year ended December 31, 2022
	Total								Attributable to
US$ MILLIONS	Operating		Investing		Financing		Total Cash Flows		Other Ownership Interests		Brookfield Infrastructure Partners LP
Australian regulated utility	$	427	$	(452)	$	(162)	$	(187)	$	(172)	$	(15)
Total	$	427	$	(452)	$	(162)	$	(187)	$	(172)	$	(15)