- All assets, liabilities, and equity amounts of the relevant infrastructure company must be reported. The accounts treatment is provided in the previous section on data definitions.
- Realised profit and loss, balance sheet and cash-flow items. These items should be accounted for using the Generally Accepted Accounting Principles (GAAP) of the country that the asset is domiciled in.
- Data contribution should include:
- Revenues, expenses, profits, and cash flows from the normal operation of the assets. Any cash flows associated with the investment in the infrastructure that the company controls.
- The outstanding balance of any long-term liabilities, debt liabilities, and cash flows associated with drawing down or repaying these liabilities.
- Finally, all cash-flows to and from equity investors in the form of either shareholder loans or traditional equity issuances and redemptions, interest, and dividends are required.
- Long-term debt (more than 12 months to maturity): For each instrument in the capital structure, sufficient information about the capital structure of the infrastructure company and its evolution over the life of the company is required. Required attributes for all debt and equity tranches and include:
- Face value outstanding;
- Maturity date;
- Base rate of interest;
- If no base rate, then the fixed interest rate;
- Credit spread if appropriate;
- Amortisation profile of the debt; and,
- Any information on interest-rate hedges (swapping floating rate exposure for fixed rate exposure and subsequent effective interest rate for the debt).
- Likewise, firm-level covenant information, including triggering ratios where appropriate, should be reported as well as the dates in which they take effect.
- As these items change over time, they should be provided with each contribution and for each new debt or equity tranche.
- Key events: For each contributed firm there is a requirement to report certain milestones, including when the firm was established, when construction and operations started, and for infrastructure special-purpose vehicles (SPVs), the end of the project’s life. The start date is the date the underlying investment started, not the date when the investors/contributors made their investment. Likewise, the reported end date of the investment corresponds to the life of the underlying investment, not investor/contributor exit date. Events of entry and exit are treated separately as acquisition events.
- For all sales/purchases of the equity of an infrastructure asset, we require the monetary value of the transaction, the ownership percentage, and the date of the transaction (not settlement date) and whether this transaction includes the equivalent transfer of shareholder debt, if any in the company.
- Furthermore, there is a requirement for any events material to the infrastructure firm to be logged; these include any breach of debt covenants and subsequent actions (events of default–both soft and hard– dividend lockups, cash sweeps, etc.), refinancing events, debt prepayment events, regulatory interventions or regulatory resets, and contract terminations. A full list of events that should be contributed is provided in the previous section on data definitions.
- The base currency for the accounts, debt instruments, and transaction data must be specified.
- The rounding units for the financial statement information must be provided. All quoted percentages should be in the form of percentage points (i.e., 50.00 not 0.50) and the units of capacity should be provided.
- For all contributed information from the financial statements any null values must be input as a 0, not left blank. For the income statement and liabilities, any negative values should be submitted as positive amounts. Any equity amounts that are negative should be entered as negative amounts.
- All company-level attributes need to include a date that the attribute (i.e., business-model change) takes place. For initial reporting of attributes this should be the date of financial close.
All data types described here and in the section on data definition areprevious section are, by design, readily accessible by infrastructure investors and available to be provided as part of their regular reporting processes.