NON-WHOLLY OWNED SUBSIDIARIES

12 Months Ended

Dec. 31, 2024

The following tables present summarized accounts for non-wholly owned subsidiaries on the Consolidated Statements of Financial Position:


	As of December 31, 2024
US$ MILLIONS	Current Assets		Non-Current Assets		Current Liabilities		Non-Current Liabilities		Non-Controlling Interest		Equity in Net Assets Attributable to the partnership
Brazilian regulated gas transmission operation(1)	$	871	$	2,936	$	745	$	3,779	$	(402)	$	(315)
U.K. regulated distribution operation	265		5,882		561		3,725		365		1,496
Global intermodal logistics operation	2,346		10,005		1,565		6,213		3,512		1,061
Total	$	3,482	$	18,823	$	2,871	$	13,717	$	3,475	$	2,242

(1)During the year ended December 31, 2024, our Brazilian regulated distribution operation completed a dividend recapitalization of $1.7 billion.


	As of December 31, 2023
US$ MILLIONS	Current Assets		Non-Current Assets		Current Liabilities		Non-Current Liabilities		Non-Controlling Interest in Affiliates		Equity in Net Assets Attributable to the partnership
Brazilian regulated gas transmission operation	$	747	$	3,576	$	549	$	3,099	$	526	$	149
U.K. regulated distribution operation	312		5,579		387		3,744		344		1,416
Global intermodal logistics operation(1)	435		11,950		984		6,639		3,597		1,165
Total	$	1,494	$	21,105	$	1,920	$	13,482	$	4,467	$	2,730

(1)See Note 5, Acquisition of Businesses, for additional information.

The following tables present summarized accounts for non-wholly owned subsidiaries on the Consolidated Statements of Operating Results:


	Year ended December 31, 2024
			Attributable to non-controlling interest				Attributable to the partnership
US$ MILLIONS	Revenue		Net Income		Other Comprehensive Income (loss)		Net Income		Other Comprehensive Income (loss)
Brazilian regulated gas transmission operation	$	1,357	$	318	$	102	$	135	$	59
U.K. regulated distribution operation	741		20		11		78		45
Global intermodal logistics operation	1,568		342		9		108		4
Total	$	3,666	$	680	$	122	$	321	$	108


	Year ended December 31, 2023
			Attributable to non-controlling interest				Attributable to the partnership
US$ MILLIONS	Revenue		Net Income		Other Comprehensive Income (loss)		Net Income		Other Comprehensive Income (loss)
Brazilian regulated gas transmission operation	$	1,483	$	455	$	44	$	202	$	19
U.K. regulated distribution operation	635		19		38		78		154
Global intermodal logistics operation(1)	385		56		(33)		22		(13)
Total	$	2,503	$	530	$	49	$	302	$	160

(1)See Note 5, Acquisition of Businesses, for additional information.


	Year ended December 31, 2022
			Attributable to non-controlling interest				Attributable to the partnership
US$ MILLIONS	Revenue		Net Income		Other Comprehensive Loss		Net Income		Other Comprehensive Loss
Brazilian regulated gas transmission operation	$	1,314	$	506	$	(2)	$	225	$	(1)
U.K. regulated distribution operation	572		19		(20)		75		(78)
Total	$	1,886	$	525	$	(22)	$	300	$	(79)

The following tables present summarized accounts for non-wholly owned subsidiaries on the Consolidated Statements of Cash Flows:


	Cash Flow Activities
	Year ended December 31, 2024						Year ended December 31, 2023
US$ MILLIONS	Operating		Investing		Financing		Operating		Investing		Financing
Brazilian regulated gas transmission operation	$	585	$	(178)	$	(158)	$	739	$	(36)	$	(742)
U.K. regulated distribution operation	282		(439)		113		226		(487)		309
Global intermodal logistics operation(1)	1,133		(600)		(532)		327		(3,048)		2,828
Total	$	2,000	$	(1,217)	$	(577)	$	1,292	$	(3,571)	$	2,395

(1)See Note 5, Acquisition of Businesses, for additional information.


	Cash Flow Activities
	Year ended December 31, 2022
US$ MILLIONS	Operating		Investing		Financing
Brazilian regulated gas transmission operation	$	783	$	(80)	$	(824)
U.K. regulated distribution operation	293		(432)		101
Total	$	1,076	$	(512)	$	(723)