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Brookfield Infrastructure Reports Third Quarter 2021 Results - Brookfield , News , November 3 , 2021 Brookfield Infrastructure ( NYSE : BIP % ; TSX : BIP.UN ) today announced its results for the third quarter ended September 30 , 2021 . " The successful acquisition of Inter Pipeline marked a significant milestone for Brookfield Infrastructure and third quarter results were supported by its initial contribution , as well as strong organic growth within our base business , " said Sam Pollock , Chief Executive Officer of Brookfield Infrastructure . " Looking ahead , we are confident in our ability to capitalize on new investment opportunities of scale across our target sectors and geographies . " US $ millions ( except per unit amounts ) , unaudited¹ Net income² - per unit³ FFO4 - per unit ( split - adjusted ) 5 For the three months ended September 30 For the nine months ended September 30 2021 2020 2021 2020 $ 413 $ 5 $ 955 $ 63 $ 0.72 422 $ 0.89 $ $ ( 0.12 ) $ 1.60 $ ( 0.22 ) $ 365 0.79 $ 1,247 1,056 2.66 $ 2.27 Brookfield reported net income of $ 413 million ( $ 0.72 per unit ) for the three - month period ended September 30 , 2021 compared to $ 5 million ( a loss of $ 0.12 per unit ) in the prior year . Net income increased compared to the prior year as the current period benefited from organic growth at the high - end of our target range , contributions from recently closed acquisitions , and a gain on the sale of our U.S. district energy operation which closed in July . Funds from Operations ( or FFO ) of $ 422 million for the quarter reflects a 16 % increase compared with the same period last year . Results were supported by strong growth from our base business and the initial contribution from Inter Pipeline Ltd. ( IPL ) . Excluding the recovery of shutdown - related effects experienced in 2020 , organic growth was robust at 9 % . This includes inflationary tariff increases and the commissioning of over $ 800 million in new capital projects in the last twelve months . Current quarter results exclude the impact related to the sale of various assets , which raised almost $ 2 billion of net proceeds for Brookfield Infrastructure this year . Segment Performance The utilities segment generated FFO of $ 182 million compared with $ 169 million in the prior year . Organic growth for the segment of 7 % reflects inflation indexation and the commissioning of over $ 400 million of capital into the rate base during the last 12 months . Results also benefited from the acquisition of the remaining interest in our Brazilian regulated gas transmission operation . Last year's results included our U.K. smart meter portfolio and North American district energy platform , which were divested earlier this year . FFO for the transport segment was $ 181 million , an improvement of approximately 18 % compared with the prior year . Results benefited from strong organic growth driven by economic recovery - fueled volumes and inflationary tariff increases . Growth is also attributable to a full - quarter contribution from our U.S. liquified natural gas ( LNG ) export terminal . Prior year results included a full contribution from our Australian export terminal , of which we sold a 22 % stake in December 2020 . FFO for the midstream segment totaled $ 103 million , an annual increase of more than 55 % . Results reflect a partial contribution from IPL , in addition to strong gas transportation volumes and the benefit of elevated commodity prices across our existing businesses . Prior year results reflected an additional 12.5 % ownership in our U.S. gas pipeline , which was sold in March . Brookfield Infrastructure Partners L.P. 1