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SEGMENTED INFORMATION (Tables)

6 Months Ended

Jun. 30, 2023

Disclosure of operating segments [abstract]

Disclosure of entity's operating segments

Reportable Segment Measures

AS AT AND FOR THE THREE MONTHS ENDED JUN. 30, 2023 (MILLIONS)			Asset Management						Insurance Solutions2						Renewable Power and Transition						Infrastructure						Private Equity						Real Estate						Corporate Activities												Total						Note
External revenues			$	2,601					n/a						$	1,540					$	4,354					$	13,628					$	1,495					$	50											$	23,668
Inter-segment and other revenues1			1,180						n/a						—						1						(5)						10						26												1,212						i
Segmented revenues			3,781						n/a						1,540						4,355						13,623						1,505						76												24,880
DE			777						160						n/a						n/a						n/a						n/a						n/a												n/a						ii
FFO1			n/a						n/a						143						243						121						n/a						(133)												n/a						ii
NOI			n/a						n/a						n/a						n/a						n/a						825						n/a												n/a						ii
Common equity			20,801						4,006						5,426						2,513						2,515						22,793						(17,556)												40,498

1.We equity account for our investment in Oaktree and include our share of the FFO at our ownership of 68%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the three months ended June 30, 2023, $333 million of Oaktree’s revenue was included in our Asset Management segment revenue.

2.We equity account for our investment in Brookfield Reinsurance Ltd. (“BNRE”), and as such do not generate consolidated external or inter-segment revenues.

AS AT DEC. 31, 2022 AND FOR THE THREE MONTHS ENDED JUN. 30, 2022 (MILLIONS)			Asset Management						Insurance Solutions2						Renewable Power and Transition						Infrastructure						Private Equity						Real Estate						Corporate Activities												Total						Note
External revenues			$	2,080					n/a						$	1,340					$	3,735					$	14,581					$	1,456					$	64											$	23,256
Inter-segment and other revenues1			957						n/a						—						2						56						8						(71)												952						i
Segmented revenues			3,037						n/a						1,340						3,737						14,637						1,464						(7)												24,208
DE			917						46						n/a						n/a						n/a						n/a						n/a												n/a						ii
FFO1			n/a						n/a						122						183						223						n/a						(130)												n/a						ii
NOI			n/a						n/a						n/a						n/a						n/a						812						n/a												n/a						ii
Common equity			19,645						3,996						5,274						2,524						2,439						22,825						(17,095)												39,608

1.We equity account for our investment in Oaktree and include our share of the FFO at 64%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the three months ended June 30, 2022, $347 million of Oaktree’s revenue was included in our Asset Management segment revenue.

2.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.

FOR THE SIX MONTHS ENDED JUN. 30, 2023 (MILLIONS)			Asset Management						Insurance Solutions2						Renewable Power and Transition						Infrastructure						Private Equity						Real Estate						Corporate Activities									Total Segments						Note
External revenues			$	5,072					n/a						$	2,903					$	8,638					$	27,364					$	2,918					$	70								$	46,965
Inter-segment and other revenues1			2,597						n/a						—						3						40						18						26									2,684						i
Segmented revenues			7,669						n/a						2,903						8,641						27,404						2,936						96									49,649
DE			1,655						305						n/a						n/a						n/a						n/a						n/a									n/a						ii
FFO1			n/a						n/a						226						379						370						n/a						(280)									n/a						ii
NOI			n/a						n/a						n/a						n/a						n/a						1,702						n/a									n/a						ii

1.We equity account for our investment in Oaktree and include our share of the FFO at 68%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the six months ended June 30, 2023, $982 million of Oaktree’s revenues was included in our Asset Management segment revenue.

2.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.

FOR THE SIX MONTHS ENDED JUN. 30, 2022 (MILLIONS)			Asset Management						Insurance Solutions2						Renewable Power and Transition						Infrastructure						Private Equity						Real Estate						Corporate Activities									Total Segments						Note
External revenues			$	4,113					n/a						$	2,586					$	7,195					$	27,985					$	3,157					$	102								$	45,138
Inter-segment and other revenues1			2,120						n/a						—						3						128						15						(70)									2,196						i
Segmented revenues			6,233						n/a						2,586						7,198						28,113						3,172						32									47,334
DE			1,804						59						n/a						n/a						n/a						n/a						n/a									n/a						ii
FFO1			n/a						n/a						192						296						424						n/a						(209)									n/a						ii
NOI			n/a						n/a						n/a						n/a						n/a						1,683						n/a									n/a						ii

1.We equity account for our investment in Oaktree and include our share of the FFO at 64%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the six months ended June 30, 2022, $851 million of Oaktree’s revenues was included in our Asset Management segment revenue.

2.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.

Summary of reconciliation of FFO to net income

The following table reconciles net income to the total of the segments’ measures of profit or loss as presented above for the three and six months ended June 30, 2023.

FOR THE PERIODS ENDED JUN. 30 (MILLIONS)									Three Months Ended												Six Months Ended
			Note						2023						2022						2023						2022
Net income									$	1,512					$	1,475					$	1,936					$	4,435
Add/(Deduct):
Equity accounted fair value changes and other non-FFO items									703						535						1,507						761
Fair value changes									(62)						397						(100)						(1,383)
Depreciation and amortization									2,214						1,886						4,402						3,697
Deferred income taxes									(151)						(189)						(243)						236
Realized disposition gains in fair value changes or equity			iii						283						152						399						520
Non-controlling interests on above items									(3,127)						(2,857)						(5,349)						(5,270)
Real Estate segment disposition gains									(283)						66						(345)						20
Real Estate segment adjustments and other, net1									1,047						708						2,150						1,233
Total segments’ measures of profit or loss									$	2,136					$	2,173					$	4,357					$	4,249

1.Primarily comprised of Real Estate segment interest expense and corporate costs, net of investment income and other, net of non-controlling interests.

Summary of financial information by geographic regions

The company’s revenues by location of operations are as follows:

FOR THE PERIODS ENDED JUN. 30 (MILLIONS)			Three Months Ended												Six Months Ended
			2023						2022						2023						2022
U.S.			$	6,900					$	5,441					$	13,852					$	11,015
U.K.			5,915						6,877						11,401						12,862
Canada			2,614						2,903						5,232						5,433
Brazil			1,385						1,341						2,698						2,553
Australia			1,483						1,538						2,957						2,999
India			729						697						1,405						1,375
Colombia			557						527						1,087						1,064
Germany			511						485						1,032						1,020
Other Europe			2,297						2,255						4,708						4,501
Other Asia			682						689						1,452						1,411
Other			595						503						1,141						905
			$	23,668					$	23,256					$	46,965					$	45,138

The company’s consolidated assets by location are as follows:

AS AT JUN. 30, 2023 AND DEC. 31, 2022 (MILLIONS)			2023						2022
U.S.			$	212,278					$	206,714
Canada			51,312						50,894
U.K.			35,083						31,940
Brazil			28,440						25,500
Australia			26,781						27,068
India			21,357						19,521
Germany			15,241						12,262
Colombia			12,050						10,567
Other Europe			33,126						31,713
Other Asia			15,240						14,655
Other			12,226						10,450
			$	463,134					$	441,284

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