Financial Performance - Brookfield Infrastructure reported net income of 8millionforQ22024,asignificantdecreasefrom378 million in Q2 2023[2]. - For the three months ended June 30, 2024, Brookfield Infrastructure Partners reported revenues of 5,138million,anincreasefrom4,256 million in the same period of 2023, representing a growth of 20.6%[27]. - The net income attributable to the partnership for the three months ended June 30, 2024, was 8million,asignificantdecreasefrom378 million in the same period of 2023, reflecting a decline of 97.9%[27]. - Brookfield Infrastructure Corporation reported net income of 643millionforQ22024,asignificantimprovementfromanetlossof154 million in the same period last year[37]. - Revenues for Brookfield Infrastructure Corporation reached 908millioninQ22024,comparedto538 million in Q2 2023, reflecting a substantial increase in operational performance[40]. Funds from Operations (FFO) - Funds from operations (FFO) for Q2 2024 reached 608million,representinga10552 million in Q2 2023[3]. - The transport segment generated FFO of 319million,a60180 million from 224millioninthesameperiodlastyear,primarilyduetocapitalrecyclingactivities[4].−Thedatasegment′sFFOincreasedby878 million, reflecting contributions from recent acquisitions despite the loss of income from a previous sale[8]. - Brookfield Infrastructure Partners L.P. reported consolidated funds from operations (FFO) of 1,416million,upfrom1,113 million year-over-year[30]. - FFO per unit for Q2 2024 was 0.77,anincreasefrom0.72 in Q2 2023, with an average of 461.5 million limited partnership units outstanding[32]. Acquisitions and Growth Projects - Brookfield Infrastructure secured or completed seven follow-on acquisitions in 2024, totaling nearly 4billioninenterprisevalue[9].−Thecompanyhasabacklogoforganicgrowthprojectsvaluedat7.7 billion, a 15% increase from the previous year[10]. - Brookfield Infrastructure expects the second half of 2024 to be active for M&A, driven by improved market conditions and interest rates[11]. Cash Flow and Capital Management - Cash from operating activities for the three months ended June 30, 2024, was 1,057million,upfrom970 million in the same period of 2023, marking an increase of 9.0%[28]. - Cash used in investing activities for the three months ended June 30, 2024, was (1,187)million,comparedtocashgeneratedof760 million in the same period of 2023[29]. - The company monetized assets totaling approximately 210millionthisquarter,bringingtotalcapitalrecyclingfortheyearto1.4 billion[12]. - The company declared a quarterly distribution of 0.405perunit,representinga6100,892 million, a slight increase from 100,784millionasofDecember31,2023,reflectingagrowthof0.15,084 million as of June 30, 2024, compared to 4,911millionasofDecember31,2023,representinganincreaseof3.544,675 million as of June 30, 2024, up from 40,904millionasofDecember31,2023,indicatinganincreaseof9.023,657 million, a slight decrease from 23,909millionattheendof2023[39].−Non−recourseborrowingsincreasedto13,088 million as of June 30, 2024, compared to 12,028millionattheendof2023[39].EarningsfromAssociatesandJointVentures−TheshareofearningsfromassociatesandjointventuresforthethreemonthsendedJune30,2024,was95 million, down from 273millioninthesameperiodof2023,adecreaseof65.20 for Q2 2024, down from 3millioninQ22023[40].OtherFinancialMetrics−TheaveragenumberoflimitedpartnershipunitsoutstandingforthethreemonthsendedJune30,2024,was461.5million,comparedto458.7millioninthesameperiodof2023,indicatingaslightincreaseof0.6466 million, an increase from 356millionattheendofthesameperiodin2023[42].−Thecompanyreportedachangeinnon−cashworkingcapitalof136 million for the three months ended June 30, 2024, compared to 65millionintheprioryear[42].−DepreciationandamortizationexpenseforthethreemonthsendedJune30,2024,was191 million, compared to 57millioninthesameperiodof2023[42].−Theimpactofforeignexchangeoncashwasanegative34 million for the three months ended June 30, 2024[42].
