v3.26.1
FINANCIAL LIABILTIES (Tables)
 12 Months Ended
Dec. 31, 2025
Financial Instruments [Abstract]  
Schedule of of Financial Liabilities
As of
US$ MILLIONSDec. 31, 2025Dec. 31, 2024
Current:
Interest rate swaps$17 $32 
Total current financial liabilities$17 $32 
Non-current:
Interest rate swaps$6 $1 
Total non-current financial liabilities$6 $1 
The following table provides a continuity schedule of outstanding exchangeable shares, class A.2 shares, class B shares, and class C shares along with our corresponding liability and remeasurement gains and losses. Exchangeable shares prior to the Arrangement refer to the exchangeable shares of BIHC, whereas exchangeable shares post the Arrangement refer to the exchangeable shares of our company.
Exchangeable shares outstanding
(Shares)		Class A.2 shares outstanding (Shares)BIHC Class B shares outstanding
(Shares)
Class C shares outstanding (Shares)(1)
Shares classified as financial liability
(US$ Millions)
Balance at January 1, 2024131,872,066 — 2 — $4,153 
Share issuance - BIPC Exchangeable LP Unit exchanges199,066 — — — 6 
Shares exchanged to units(19,223)— — — — 
Arrangement/reorganization(2)
(13,012,789)13,012,789 1 11,117,660 8 
Remeasurement of liability— — — — 477 
Balance at December 31, 2024119,039,120 13,012,789 3 11,117,660 $4,644 
Share issuance(3)
833,272 — — — $38 
Share issuance - BIPC Exchangeable LP Unit exchanges155,557 — — — 7 
Shares exchanged to units(45,782)— — — (1)
Remeasurement of liability— — — — 441 
Balance at December 31, 2025119,982,167 13,012,789 3 11,117,660 $5,129 
(1)     Prior to the Arrangement, class C shares were classified as financial liabilities due to their cash redemption feature. As discussed in Note 1(c)(ii), Organization and Description of our Company, the class C shares met certain qualifying criteria and were presented as equity. See Note 19, Equity. Following the Arrangement and upon consolidation of BIHC into our company, the class C shares are presented as financial liabilities.
(2)     The class C shares were remeasured to reflect the NYSE closing price of one unit, $32.00 per share, as of the Arrangement. Following the Arrangement, a $348 million return of capital was issued to the class C shareholders.
(3)     During the year-ended December 31, 2025, our company issued 833,272 exchangeable shares under the BIPC ATM, and an equivalent number of partnership units were repurchased by Brookfield Infrastructure.