v3.26.1
UNAUDITED INTERIM CONDENSED AND CONSOLIDATED STATEMENTS OF PARTNERSHIP CAPITAL - USD ($)
$ in Millions
Total
Limited Partners
Limited Partners
Limited Partners
Limited Partners
(Deficit)
Limited Partners
Ownership changes
Limited Partners
Accumulated other comprehensive income
General partner
General partner
Accumulated other comprehensive income
Non-controlling interest –  Redeemable Partnership Units held by Brookfield
Non-controlling interest –  Redeemable Partnership Units held by Brookfield
Accumulated other comprehensive income
Non-controlling interest – BIPC exchangeable shares and class A.2 exchangeable shares
Non-controlling interest - exchange LP units, equity
Non-controlling interest – in operating subsidiaries
Non-controlling interest – Perpetual subordinated notes
Preferred unitholders capital
Beginning balance at Dec. 31, 2024 $ 29,853 $ 4,704 $ 6,210 $ (3,982) $ 1,698 $ 778 [1] $ 27 $ 5 $ 1,926 $ 319 $ 1,355 $ 62 [2] $ 20,568 [3]   $ 918
Perpetual subordinated notes, beginning balance at Dec. 31, 2024                           $ 293  
Net (loss) income 778 20   20     160   9   5   584 [3]    
Other comprehensive loss 940 145       145 [1]   0 59 59 42 2 [2] 692 [3]    
Comprehensive (loss) income 1,718 165   20   145 [1] 160   68   47 2 [2] 1,276 [3]    
Unit issuance [4] 5 5 5                        
Unit repurchases [4] (29) (29) (14) (15)                      
Partnership distributions [5] (841) (397)   (397)     (162)   (164)   (114) (4) [2]      
Partnership preferred distributions [5] (32) (18)   (18)         (8)   (6)        
Acquisition of subsidiaries [3] 492                       492    
Capital provided to non-controlling interest (672)                       (672) [3]    
Subsidiary distributions to non-controlling interest (755)                       (755) [3]    
Preferred units redeemed [4] (96)                           (96)
Other items 6 [4] 15 [4] 2 [4] 50 [4] 9 [4] (46) [4] (2) [4] (1) 8 [4] (18) (9) [4] (6) [2],[4]      
Ending balance at Jun. 30, 2025 29,649 4,445 6,203 (4,342) 1,707 877 [6] 23 4 1,830 360 1,273 54 [7] 20,909 [3],[8]   822
Perpetual subordinated notes, ending balance at Jun. 30, 2025                           293  
Beginning balance at Dec. 31, 2024 29,853 4,704 6,210 (3,982) 1,698 778 [1] 27 5 1,926 319 1,355 62 [2] 20,568 [3]   918
Perpetual subordinated notes, beginning balance at Dec. 31, 2024                           293  
Ending balance at Dec. 31, 2025 35,540 4,889 6,199 (4,233) 1,712 1,211 [9] 25 7 2,017 500 1,440 61 [10] 26,086 [11]   729
Perpetual subordinated notes, ending balance at Dec. 31, 2025 293                         293  
Beginning balance at Mar. 31, 2025 29,775 4,585 6,214 (4,158) 1,698 831 [6] 26   1,876   1,318 60 [7] 20,699 [8]   918
Perpetual subordinated notes, beginning balance at Mar. 31, 2025                           293  
Net (loss) income 252 (6)   (6)     80   (3)   (2)   183 [8]    
Other comprehensive loss 694 86       86 [6]     35   25 1 547 [8]    
Comprehensive (loss) income 946 80   (6)   86 [6] 80   32   23 1 730 [8]    
Unit issuance [12] 3 3 3                        
Unit repurchases [12] (29) (29) (14) (15)                      
Partnership distributions [13] (420) (198)   (198)     (81)   (82)   (57) (2) [7]      
Partnership preferred distributions [13] (16) (9)   (9)         (4)   (3)        
Acquisition of subsidiaries [14] 492                       492 [8]    
Capital provided to non-controlling interest (552)                       (552) [8]    
Subsidiary distributions to non-controlling interest (460)                       (460) [8]    
Preferred units redeemed [12] (96)                           (96)
Other items [7],[12] 6 13   44 9 (40) [6] (2)   8   (8) (5)      
Ending balance at Jun. 30, 2025 29,649 4,445 6,203 (4,342) 1,707 877 [6] 23 4 1,830 360 1,273 54 [7] 20,909 [3],[8]   822
Perpetual subordinated notes, ending balance at Jun. 30, 2025                           293  
Beginning balance at Dec. 31, 2025 35,540 4,889 6,199 (4,233) 1,712 1,211 [9] 25 7 2,017 500 1,440 61 [10] 26,086 [11]   729
Perpetual subordinated notes, beginning balance at Dec. 31, 2025 293                         293  
Net (loss) income 637 (110)   (110)     172   (46)   (32) (1) [10] 654 [11]    
Other comprehensive loss (17) 68       68 [9]   0 27 27 20 1 [10] (133) [11]    
Comprehensive (loss) income 620 (42)   (110)   68 [9] 172   (19)   (12)   521 [11]    
Unit issuance [15] 145 6 6               139        
Unit repurchases [15] (113) (113) (40) (73)                      
Partnership distributions [16] (894) (417)   (417)     (176)   (173)   (123) (5) [10]      
Partnership preferred distributions [16] (28) (17)   (17)         (7)   (4)        
Capital provided to non-controlling interest (1,724)                       (1,724) [11]    
Subsidiary distributions to non-controlling interest (1,021)                       (1,021) [11]    
Other items (2) [15] 107 [15]   (9) [15] 118 [15] (2) [15] 3 [15] 1 16 [15] 1 (126) [15] (2) [10],[15]      
Ending balance at Jun. 30, 2026 32,523 4,413 6,165 (4,859) 1,830 1,277 [9],[17] 24 8 1,834 528 1,314 54 [18] 23,862 [11],[19]   729
Perpetual subordinated notes, ending balance at Jun. 30, 2026 293                         293  
Beginning balance at Mar. 31, 2026 34,234 4,616 6,162 (4,600) 1,765 1,289 [17] 24   1,917   1,480 55 [18] 25,120 [19]   729
Perpetual subordinated notes, beginning balance at Mar. 31, 2026                           293  
Net (loss) income 489 (24)   (24)     86   (11)   (7)   445 [19]    
Other comprehensive loss (100) (13)       (13) [17]     (6)   (4)   (77) [19]    
Comprehensive (loss) income 389 (37)   (24)   (13) [17] 86   (17)   (11) 0 [18] 368 [19]    
Unit issuance [20] 3 3 3                        
Partnership distributions [21] (447) (208)   (208)     (88)   (86)   (62) (3) [18]      
Partnership preferred distributions [21] (14) (9)   (9)         (3)   (2)        
Capital provided to non-controlling interest (1,123)                       (1,123)    
Subsidiary distributions to non-controlling interest (503)                       (503) [19]    
Other items [20] (16) 48   (18) 65 1 2   23   (91) 2 [18]      
Ending balance at Jun. 30, 2026 32,523 $ 4,413 $ 6,165 $ (4,859) $ 1,830 $ 1,277 [9],[17] $ 24 $ 8 $ 1,834 $ 528 $ 1,314 $ 54 [18] $ 23,862 [11],[19]   $ 729
Perpetual subordinated notes, ending balance at Jun. 30, 2026 $ 293                         $ 293  
[1] Refer to Note 18, Accumulated Other Comprehensive Income (Loss).
[2]
5.Includes non-controlling interest attributable to Exchange LP units and BIPC exchangeable LP units.
[3]
6.$1.8 billion of capital contributed by non-controlling shareholders in our Indian telecom tower operation has been excluded from partnership capital, interest of others in operating subsidiaries, and classified as a liability.
[4] Refer to Note 16, Partnership Capital.
[5] Refer to Note 17, Distributions.
4.Refer to Note 6, Acquisition of Businesses.
[6] Refer to Note 18, Accumulated Other Comprehensive Income (Loss).
[7]
5.Includes non-controlling interest attributable to Exchange LP units and BIPC exchangeable LP units.
[8]
6.$1.8 billion of capital contributed by non-controlling shareholders in our Indian telecom tower operation has been excluded from partnership capital, interest of others in operating subsidiaries, and classified as a liability.
[9] Refer to Note 18, Accumulated Other Comprehensive Income (Loss).
[10]
4.Includes non-controlling interest attributable to Exchange LP units and BIPC exchangeable LP units.
[11]
5.$2.0 billion of capital contributed by non-controlling shareholders in our Indian telecom tower operation has been excluded from partnership capital, interest of others in operating subsidiaries, and classified as a liability.
[12] Refer to Note 16, Partnership Capital.
[13] Refer to Note 17, Distributions.
[14] Refer to Note 6, Acquisition of Businesses.
[15] Refer to Note 16, Partnership Capital.
[16] Refer to Note 17, Distributions.
[17] Refer to Note 18, Accumulated Other Comprehensive Income (Loss)
[18]
4.Includes non-controlling interest attributable to Exchange LP units and BIPC exchangeable LP units.
[19]
5.$2.0 billion of capital contributed by non-controlling shareholders in our Indian telecom tower operation has been excluded from partnership capital, interest of others in operating subsidiaries, and classified as a liability.
[20] Refer to Note 16, Partnership Capital.
[21] Refer to Note 17, Distributions.