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REVENUES | 12 Months Ended
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Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [abstract] |
Disclosure of revenue | REVENUES We perform a disaggregated analysis of revenues considering the nature, amount, timing and uncertainty of revenues. This includes disclosure of our revenues by segment and type, as well as a breakdown of whether revenues from goods or services are recognized at a point in time or delivered over a period of time. a) Revenue by Type
FOR THE YEAR ENDED DEC. 31, 2021 (MILLIONS) | Asset Management |  | Corporate Activities |  | Renewable Power and Transition |  | Infrastructure |  | Private Equity |  | Real Estate |  | Residential Development |  | Total Revenues |  |
Revenue from contracts with customers | $ | 306 |  |  | $ | — |  |  | $ | 4,041 |  |  | $ | 11,204 |  |  | $ | 44,558 |  |  | $ | 3,259 |  |  | $ | 2,463 |  |  | $ | 65,831 |  |  |
Other revenue | — |  |  | 169 |  |  | 539 |  |  | 737 |  |  | 1,694 |  |  | 6,664 |  |  | 97 |  |  | 9,900 |  |  |
| $ | 306 |  |  | $ | 169 |  |  | $ | 4,580 |  |  | $ | 11,941 |  |  | $ | 46,252 |  |  | $ | 9,923 |  |  | $ | 2,560 |  |  | $ | 75,731 |  |  |
FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) | Asset Management |  | Corporate Activities |  | Renewable Power and Transition |  | Infrastructure |  | Private Equity |  | Real Estate |  | Residential Development |  | Total Revenues |
Revenue from contracts with customers | $ | 246 |  |  | $ | — |  |  | $ | 3,757 |  |  | $ | 8,611 |  |  | $ | 35,599 |  |  | $ | 2,403 |  |  | $ | 2,170 |  |  | $ | 52,786 |  |
Other revenue | — |  |  | 872 |  |  | 328 |  |  | 683 |  |  | 1,562 |  |  | 6,448 |  |  | 73 |  |  | 9,966 |  |
| $ | 246 |  |  | $ | 872 |  |  | $ | 4,085 |  |  | $ | 9,294 |  |  | $ | 37,161 |  |  | $ | 8,851 |  |  | $ | 2,243 |  |  | $ | 62,752 |  |
b) Timing of Recognition of Revenue from Contracts with Customers
FOR THE YEAR ENDED DEC. 31, 2021 (MILLIONS) | Asset Management |  | Corporate Activities |  | Renewable Power and Transition |  | Infrastructure |  | Private Equity |  | Real Estate |  | Residential Development |  | Total Revenues
Goods and services provided at a point in time | $ | — |  |  | $ | — |  |  | $ | 137 |  |  | $ | 137 |  |  | $ | 37,676 |  |  | $ | 637 |  |  | $ | 2,450 |  |  | $ | 41,037 |
Services transferred over a period of time | 306 |  |  | — |  |  | 3,904 |  |  | 11,067 |  |  | 6,882 |  |  | 2,622 |  |  | 13 |  |  | 24,794 |
| $ | 306 |  |  | $ | — |  |  | $ | 4,041 |  |  | $ | 11,204 |  |  | $ | 44,558 |  |  | $ | 3,259 |  |  | $ | 2,463 |  |  | $ | 65,831 |
FOR THE YEAR ENDED DEC. 31, 2020 (MILLIONS) | Asset Management |  | Corporate Activities |  | Renewable Power and Transition |  | Infrastructure |  | Private Equity |  | Real Estate |  | Residential Development |  | Total Revenues
Goods and services provided at a point in time | $ | — |  |  | $ | — |  |  | $ | 143 |  |  | $ | 160 |  |  | $ | 28,944 |  |  | $ | 553 |  |  | $ | 2,167 |  |  | $ | 31,967 |
Services transferred over a period of time | 246 |  |  | — |  |  | 3,614 |  |  | 8,451 |  |  | 6,655 |  |  | 1,850 |  |  | 3 |  |  | 20,819 |
| $ | 246 |  |  | $ | — |  |  | $ | 3,757 |  |  | $ | 8,611 |  |  | $ | 35,599 |  |  | $ | 2,403 |  |  | $ | 2,170 |  |  | $ | 52,786 |
Remaining Performance Obligation Private Equity In our construction services operation, backlog is defined as revenue yet to be delivered (i.e. remaining performance obligations) on construction projects that have been secured via an executed contract, work order or letter of intent. As at December 31, 2021, our backlog of construction projects was approximately $7.5 billion (2020 – $5.6 billion). In our Brazilian water and wastewater services operation, our long-term, inflation-adjusted concession service contracts with various municipalities have an average remaining contract duration of 24 years as at December 31, 2021 (2020 – 24 years). Others In our Asset Management, Infrastructure and Renewable Power and Transition businesses, revenue is generally recognized as invoiced for contracts recognized over a period of time as the amounts invoiced are commensurate with the value provided to the customers. c) Lease Income Our leases in which the company is a lessor are primarily operating in nature. Total lease income from our assets leased out on operating leases totaled $6.7 billion (2020 – $6.7 billion) including $147 million (2020 – $75 million) of income related to variable lease income that is not dependent on an index or rate. The following table presents the undiscounted contractual earnings receivable of the company’s leases by expected period of receipt:
| Payments Receivable by Period
AS AT DEC. 31, 2021 (MILLIONS) | Less than 1 Year |  | 1 – 3 Years |  | 4 – 5 Years |  | After 5 Years |  | Total
Receivables from lease contracts | $ | 5,072 |  |  | $ | 8,090 |  |  | $ | 6,333 |  |  | $ | 14,355 |  |  | $ | 33,850 |
| Payments Receivable by Period
AS AT DEC. 31, 2020 (MILLIONS) | Less than 1 Year |  | 1 – 3 Years |  | 4 – 5 Years |  | After 5 Years |  | Total
Receivables from lease contracts | $ | 4,738 |  |  | $ | 8,385 |  |  | $ | 6,661 |  |  | $ | 15,971 |  |  | $ | 35,755 |

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