TSX:BIP.UN Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	23,100	21,039	17,931	14,427	11,537
Revenue Growth (YoY)	9.80%	17.33%	24.29%	25.05%	29.85%
Cost of Revenue	16,876	15,676	13,470	10,510	8,247
Gross Profit	6,224	5,363	4,461	3,917	3,290
Selling, General & Admin	426	405	413	433	406
Operating Expenses	426	405	413	433	406
Operating Income	5,798	4,958	4,048	3,484	2,884
Interest Expense	-3,868	-3,387	-2,501	-1,855	-1,468
Earnings From Equity Investments	627	439	459	12	88
Currency Exchange Gain (Loss)	-	-26	-146	164	-116
Other Non Operating Income (Expenses)	564	-582	167	90	-155
EBT Excluding Unusual Items	3,121	1,402	2,027	1,895	1,233
Merger & Restructuring Charges	-	-55	-128	-	-
Gain (Loss) on Sale of Investments	-	-	30	40	-
Gain (Loss) on Sale of Assets	-	6	100	-	2,100
Other Unusual Items	-	600	-	-	-
Pretax Income	3,121	1,953	2,029	1,935	3,333
Income Tax Expense	589	270	581	560	614
Earnings From Continuing Operations	2,532	1,683	1,448	1,375	2,719
Minority Interest in Earnings	-2,083	-1,609	-1,323	-1,250	-2,065
Net Income	449	74	125	125	654
Preferred Dividends & Other Adjustments	-	40	38	38	41
Net Income to Common	449	34	87	87	613
Net Income Growth	506.76%	-40.80%	-	-80.89%	319.23%
Shares Outstanding (Basic)	460	462	459	458	445
Shares Outstanding (Diluted)	460	462	459	458	445
Shares Change (YoY)	-0.33%	0.48%	0.28%	2.92%	0.68%
EPS (Basic)	0.98	0.07	0.19	0.19	1.38
EPS (Diluted)	0.98	0.07	0.19	0.19	1.38
EPS Growth	1224.91%	-61.11%	-0.28%	-86.21%	403.20%
Free Cash Flow	-7,003	-322	1,591	356	705
Free Cash Flow Per Share	-15.22	-0.70	3.46	0.78	1.58
Dividend Per Share	1.720	1.620	1.530	1.440	1.360
Dividend Growth	6.17%	5.88%	6.25%	5.88%	5.16%
Gross Margin	26.94%	25.49%	24.88%	27.15%	28.52%
Operating Margin	25.10%	23.57%	22.57%	24.15%	25.00%
Profit Margin	1.94%	0.16%	0.48%	0.60%	5.31%
Free Cash Flow Margin	-30.32%	-1.53%	8.87%	2.47%	6.11%
EBITDA	9,822	8,602	6,787	5,642	4,920
EBITDA Margin	42.52%	40.89%	37.85%	39.11%	42.64%
D&A For EBITDA	4,024	3,644	2,739	2,158	2,036
EBIT	5,798	4,958	4,048	3,484	2,884
EBIT Margin	25.10%	23.57%	22.57%	24.15%	25.00%
Effective Tax Rate	18.87%	13.83%	28.63%	28.94%	18.42%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.