XML 39 R24.htm IDEA: XBRL DOCUMENT
v3.23.2

SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY | 6 Months Ended
--- | ---
Jun. 30, 2023
Disclosure of subsidiaries [abstract] |
SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY | SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARIES Brookfield Finance Inc. (“BFI”) was incorporated on March 31, 2015 under the Business Corporations Act (Ontario) and is a subsidiary of the Corporation. Historically, we have also issued debt securities through other subsidiaries, including Brookfield Finance LLC (“BFL”) and Brookfield Finance I (UK) PLC (“BF U.K.”). As at June 30, 2023, BFI is the issuer of the following series of notes (together with BFL and BF U.K. as co-obligors, as noted below): •$500 million of 4.25% notes due in 2026; •$550 million of 4.70% notes due in 2047; •$350 million of 4.70% notes due in 2047; •$650 million of 3.90% notes due in 2028; •$750 million of 4.00% notes due in 2024 (BFL co-obligor); •$1.0 billion of 4.85% notes due in 2029; •$600 million of 4.35% notes due in 2030; •$150 million of 4.35% notes due in 2030; •$500 million of 3.50% notes due in 2051; •$400 million of 4.625% subordinated notes due in 2080; •$500 million of 2.724% notes due in 2031; •$250 million of 3.50% notes due in 2051; •$400 million of 3.90% notes due in 2028; •$400 million of 3.625% notes due in 2052; •$600 million of 3.45% notes due in 2050 (BFL co-obligor); and •$600 million of 2.34% notes due in 2032 (BF U.K. co-obligor). In addition, Brookfield Finance II Inc. (“BFI II”) is the issuer of C$1.0 billion of 5.431% notes due in 2032, Brookfield Capital Finance LLC (the “US LLC Issuer”) is the issuer of $550 million of 6.087% notes due in 2033, and BF U.K. is the issuer of $230 million of 4.50% perpetual subordinated notes. Moreover, in July 2023, BFI redeemed $550 million of its $750 million aggregate principal amount of 4.00% notes due in 2024. BFL is a Delaware limited liability company formed on February 6, 2017 and is a subsidiary of the Corporation. The US LLC Issuer is a Delaware limited liability company formed on August 12, 2022 and a subsidiary of the Corporation. BFI II was incorporated on September 24, 2020 under the Business Corporations Act (Ontario) and is a subsidiary of the Corporation. Brookfield Finance (Australia) Pty Ltd (“BF AUS”) was incorporated on September 24, 2020 under the Corporations Act 2001 (Commonwealth of Australia) and is a subsidiary of the Corporation. BF U.K. (collectively with BFI, BFI II, BFL, BF AUS, and the US LLC Issuer, the “Debt Issuers”) was incorporated on September 25, 2020 under the U.K. Companies Act 2006 and is a subsidiary of the Corporation. Brookfield Finance II LLC (“BFL II”) was formed on September 24, 2020 under the Delaware Limited Liability Company Act and is a subsidiary of the Corporation. The Debt Issuers are consolidated subsidiaries of the Corporation that may offer and sell debt securities. BFL II is a consolidated subsidiary of the Corporation that may offer and sell preferred shares representing limited liability company interests. Any debt securities issued by the Debt Issuers are, or will be, fully and unconditionally guaranteed as to payment of principal, premium (if any), interest and certain other amounts by the Corporation. Any preferred shares representing limited liability company interests issued by BFL II will be fully and unconditionally guaranteed as to payment of distributions when due, amounts due on redemption, and amounts due on the liquidation, dissolution or winding-up of BFL II, in each case by the Corporation. The US LLC Issuer, BFI II, BFL, BFL II, BF AUS and BF U.K. have no independent activities, assets or operations other than in connection with any securities that they may issue. Brookfield Investments Corporation (“BIC”) is an investment company that holds investments in the real estate, renewable power and infrastructure sectors, as well as a portfolio of preferred shares issued by the Corporation’s subsidiaries. The Corporation provided a full and unconditional guarantee of the Class 1 Senior Preferred Shares, Series A issued by BIC. As at June 30, 2023, C$30 million of the se senior preferred shares were held by third-party shareholders and are retractable at the option of the holder. The following tables contain summarized financial information of the Corporation, BFI, BFI II, BFL, BFL II, BF AUS, BF U.K., the US LLC Issuer, BIC and non-guarantor subsidiaries:
AS AT AND FOR THE THREE MONTHS ENDED JUN. 30, 2023 (MILLIONS) | The Corporation 1 |  | BFI |  | BFI II |  | BFL |  | BFL II |  | BF AUS |  | BF U.K. |  | US LLC Issuer |  | BIC |  | Other Subsidiaries of the Corporation 2 |  | Consolidating Adjustments 3 |  | The Company Consolidated
Revenues | $ | 700 |  |  | $ | 77 |  |  | $ | (6) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | 47 |  |  | $ | 25,856 |  |  | $ | (3,008) |  |  | $ | 23,668 |
Net income (loss) attributable to shareholders | 81 |  |  | (9) |  |  | (15) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (7) |  |  | 2,080 |  |  | (2,049) |  |  | 81 |
Total assets | 82,211 |  |  | 10,109 |  |  | 757 |  |  | — |  |  | — |  |  | — |  |  | 228 |  |  | 552 |  |  | 4,361 |  |  | 515,081 |  |  | (150,165) |  |  | 463,134 |
Total liabilities | 37,610 |  |  | 8,600 |  |  | 754 |  |  | 2 |  |  | — |  |  | — |  |  | 1 |  |  | 548 |  |  | 3,569 |  |  | 302,691 |  |  | (46,224) |  |  | 307,551 |
Non-controlling interest – preferred equity | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 230 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 230 |
AS AT DEC. 31, 2022 AND FOR THE THREE MONTHS ENDED JUN. 30, 2022 (MILLIONS) | The Corporation 1 |  | BFI |  | BFI II |  | BFL |  | BFL II |  | BF AUS |  | BF U.K. |  | US LLC Issuer |  | BIC |  | Other Subsidiaries of the Corporation 2 |  | Consolidating Adjustments 3 |  | The Company Consolidated
Revenues | $ | 196 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 38 |  |  | $ | 25,729 |  |  | $ | (2,787) |  |  | $ | 23,256 |
Net income (loss) attributable to shareholders | 590 |  |  | (88) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 62 |  |  | 2,154 |  |  | (2,128) |  |  | 590 |
Total assets | 71,514 |  |  | 9,769 |  |  | 740 |  |  | 16 |  |  | — |  |  | — |  |  | 232 |  |  | — |  |  | 4,170 |  |  | 492,799 |  |  | (137,956) |  |  | 441,284 |
Total liabilities | 27,761 |  |  | 8,544 |  |  | 737 |  |  | 6 |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 3,520 |  |  | 297,397 |  |  | (38,576) |  |  | 299,393 |
Non-controlling interest –preferred equity | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 230 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 230 |
FOR THE SIX MONTHS ENDED JUN. 30, 2023 (MILLIONS) | The Corporation 1 |  | BFI |  | BFI II |  | BFL |  | BFL II |  | BF AUS |  | BF U.K. |  | US LLC Issuer |  | BIC |  | Other subsidiaries of the Corporation 2 |  | Consolidating Adjustments 3 |  | The Company Consolidated
Revenues | $ | 1,285 |  |  | $ | 153 |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |  |  | $ | 2 |  |  | $ | 93 |  |  | $ | 50,705 |  |  | $ | (5,280) |  |  | $ | 46,965 |
Net income (loss) attributable to shareholders | 201 |  |  | (19) |  |  | (17) |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 2 |  |  | 3,499 |  |  | (3,469) |  |  | 201 |
FOR THE SIX MONTHS ENDED JUN. 30, 2022 (MILLIONS) | The Corporation 1 |  | BFI |  | BFI II |  | BFL |  | BFL II |  | BF AUS |  | BF U.K. |  | US LLC Issuer |  | BIC |  | Other subsidiaries of the Corporation 2 |  | Consolidating Adjustments 3 |  | The Company Consolidated
Revenues | $ | 254 |  |  | $ | 141 |  |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | 75 |  |  | $ | 49,528 |  |  | $ | (4,885) |  |  | $ | 45,138 |
Net income (loss) attributable to shareholders | 1,949 |  |  | (89) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 49 |  |  | 3,595 |  |  | (3,559) |  |  | 1,949 |
1.This column accounts for investments in all subsidiaries of the Corporation under the equity method. 2.This column accounts for investments in all subsidiaries of the Corporation other than BFI, BFI II, BFL, BFL II, BF AUS, BF U.K., the US LLC Issuer and BIC on a combined basis. 3.This column includes the necessary amounts to present the company on a consolidated basis.

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2022-03-24 -Paragraph 17 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2022-en-r&anchor=para_17_b&doctype=Standard -URIDate 2022-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2022-03-24 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2022-en-r&anchor=para_16_b&doctype=Standard -URIDate 2022-03-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2022-03-24 -Paragraph B4 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B4_a&doctype=Appendix&subtype=B -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration