Brookfield Infrastructure Corp

NYSE:BIPCUnited StatesView on Canadian Exchange

09:00 AM EDT, 05/02/2024 (MT Newswires) -- ...

to the Partnership (379) (399) Non-controlling interest 3,295 4,467 ----------------------------------- ------------ ----------- Total equity 2,916 4,068 ----------------------------------- ------------ ----------- Total liabilities and equity $ 23,904 $ 23,909 ----------------------------------- ------------ ----------- Brookfield Infrastructure Corporation Consolidated Statements of Operating Results For the three months ended March 31 ------------------------------ US$ millions, unaudited 2024 2023 ------ Revenues $ 902 $ 497 Direct operating costs (339) (147) General and administrative expenses (18) (16) -------------------------------------------- ------- ------ 545 334 Interest expense (239) (153) Share of earnings from investments in associates -- 1 Remeasurement of exchangeable and class B shares 37 (307) Mark-to-market and other (47) 10 -------------------------------------------- ------- ------ Income (loss) before income tax 296 (115) Income tax (expense) recovery Current (101) (80) Deferred 2 -- -------------------------------------------- ------- ------ Net income (loss) $ 197 $ (195) -------------------------------------------- ------- ------ Attributable to: Partnership $ 28 $ (301) Non-controlling interest 169 106 -------------------------------------------- ------- ------ Brookfield Infrastructure Corporation Consolidated Statements of Cash Flows For the three months ended March 31 ---------------------------- US$ millions, unaudited 2024 2023 ----- Operating Activities Net income (loss) $ 197 $ (195) Adjusted for the following items: Earnings from investments in associates, net of distributions received -- (1) Depreciation and amortization expense 195 55 Mark-to-market and other 45 5 Remeasurement of exchangeable and class B shares (37) 307 Deferred income tax recovery (2) -- Change in non-cash working capital, net (120) (181) -------------------------------------------- --------- ----- Cash from (used by) operating activities 278 (10) -------------------------------------------- --------- ----- Investing Activities Purchase of long-lived assets, net of disposals (97) (125) Purchase of financial assets and other -- (4) Other investing activities 31 -- -------------------------------------------- --------- ----- Cash used by investing activities (66) (129) -------------------------------------------- --------- ----- Financing Activities Net capital provided to non-controlling interest (1,363) (115) Net borrowings 957 111 Other financing activities 18 -- -------------------------------------------- --------- ----- Cash used by financing activities (388) (4) -------------------------------------------- --------- ----- Cash and cash equivalents Change during the period $ (176) $ (143) Impact of foreign exchange on cash (8) 7 Balance, beginning of period 539 445 -------------------------------------------- --------- ----- Balance, end of period $ 355 $ 309 -------------------------------------------- --------- -----