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ACQUISITIONS OF CONSOLIDATED ENTITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of detailed information about business combination [abstract] |
Disclosure of detailed information about business combinations | The following table summarizes the balance sheet impact as a result of business combinations that occurred in the year ended December 31, 2023. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis:
AS AT DEC. 31, 2023 (MILLIONS) |  |  |  | Renewable Power and Transition |  |  |  | Infrastructure |  | Private Equity and Other |  | Total
Cash and cash equivalents |  |  |  | $ | 228 |  |  |  |  | $ | 921 |  |  | $ | 22 |  |  | $ | 1,171 |
Accounts receivable and other |  |  |  | 585 |  |  |  |  | 1,475 |  |  | 10 |  |  | 2,070 |
Other financial assets |  |  |  | 47 |  |  |  |  | 1,519 |  |  | 1 |  |  | 1,567 |
Assets classified as held for sale |  |  |  | 293 |  |  |  |  | — |  |  | — |  |  | 293 |
Investment properties |  |  |  | — |  |  |  |  | 3,244 |  |  | — |  |  | 3,244 |
Property, plant and equipment |  |  |  | 7,200 |  |  |  |  | 8,964 |  |  | 240 |  |  | 16,404 |
Intangible assets |  |  |  | 8 |  |  |  |  | 4,020 |  |  | 83 |  |  | 4,111 |
Goodwill |  |  |  | 1,674 |  |  |  |  | 5,334 |  |  | 203 |  |  | 7,211 |
Deferred income tax assets |  |  |  | 97 |  |  |  |  | — |  |  | — |  |  | 97 |
Total assets |  |  |  | 10,132 |  |  |  |  | 25,477 |  |  | 559 |  |  | 36,168 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and other |  |  |  | (1,944) |  |  |  |  | (1,500) |  |  | (46) |  |  | (3,490) |
Liabilities associated with assets classified as held for sale |  |  |  | (138) |  |  |  |  | — |  |  | — |  |  | (138) |
Non-recourse borrowings |  |  |  | (2,868) |  |  |  |  | (9,084) |  |  | — |  |  | (11,952) |
Deferred income tax liabilities |  |  |  | (333) |  |  |  |  | (1,558) |  |  | (47) |  |  | (1,938) |
Non-controlling interests 1 |  |  |  | (414) |  |  |  |  | — |  |  | (1) |  |  | (415) |
Preferred equity |  |  |  | — |  |  |  |  | (641) |  |  | — |  |  | (641) |
|  |  |  | (5,697) |  |  |  |  | (12,783) |  |  | (94) |  |  | (18,574) |
Net assets acquired 2 |  |  |  | $ | 4,435 |  |  |  |  | $ | 12,694 |  |  | $ | 465 |  |  | $ | 17,594 |
1.Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2.Net assets acquired is typically equal to total consideration. Total consideration includes amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. The following table summarizes the balance sheet impact as a result of material business combinations that occurred in 2023. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis.
|  | Infrastructure |  | Renewable Power and Transition |  |  |  |  |  |
AS AT DEC. 31, 2023 (MILLIONS) |  | HomeServe |  | Triton |  | Data4 |  | X-Elio |  | Deriva |  | Banks |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 205 |  |  | $ | 491 |  |  | $ | 189 |  |  | $ | 42 |  |  | $ | 88 |  |  | $ | 60 |  |  |  |  |  |  |  |  |
Accounts receivable and other |  | 806 |  |  | 376 |  |  | 284 |  |  | 53 |  |  | 328 |  |  | 27 |  |  |  |  |  |  |  |  |
Other financial assets |  | 21 |  |  | 1,495 |  |  | 3 |  |  | 1 |  |  | 38 |  |  | 8 |  |  |  |  |  |  |  |  |
Assets classified as held for sale |  | — |  |  | — |  |  | — |  |  | 293 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Investment properties |  | — |  |  | — |  |  | 3,244 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | 118 |  |  | 8,811 |  |  | 35 |  |  | 1,160 |  |  | 4,024 |  |  | 995 |  |  |  |  |  |  |  |  |
Intangible assets |  | 2,827 |  |  | 710 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Goodwill |  | 3,337 |  |  | 1,163 |  |  | 808 |  |  | 1,333 |  |  | — |  |  | 159 |  |  |  |  |  |  |  |  |
Deferred income tax assets |  | — |  |  | — |  |  | — |  |  | 75 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Total assets |  | 7,314 |  |  | 13,046 |  |  | 4,569 |  |  | 2,957 |  |  | 4,478 |  |  | 1,249 |  |  |  |  |  |  |  |  |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and other |  | (792) |  |  | (406) |  |  | (260) |  |  | (126) |  |  | (1,561) |  |  | (142) |  |  |  |  |  |  |  |  |
Liabilities associated with assets classified as held for sale |  | — |  |  | — |  |  | — |  |  | (138) |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
Non-recourse borrowings |  | (1,006) |  |  | (7,041) |  |  | (845) |  |  | (795) |  |  | (1,092) |  |  | (297) |  |  |  |  |  |  |  |  |
Deferred income tax liabilities |  | (613) |  |  | (446) |  |  | (416) |  |  | (105) |  |  | (29) |  |  | (151) |  |  |  |  |  |  |  |  |
Non-controlling interests 1 |  | — |  |  | — |  |  | — |  |  | — |  |  | (343) |  |  | (34) |  |  |  |  |  |  |  |  |
Preferred equity |  | — |  |  | (641) |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |
|  | (2,411) |  |  | (8,534) |  |  | (1,521) |  |  | (1,164) |  |  | (3,025) |  |  | (624) |  |  |  |  |  |  |  |  |
Net assets acquired 2 |  | $ | 4,903 |  |  | $ | 4,512 |  |  | $ | 3,048 |  |  | $ | 1,793 |  |  | $ | 1,453 |  |  | $ | 625 |  |  |  |  |  |  |  |  |
1.Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2.Net assets acquired is typically equal to total consideration. Total consideration includes amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. The following table summarizes the balance sheet impact as a result of business combinations that occurred in 2022. No material changes were made to those allocations disclosed in the 2022 consolidated financial statements.
AS AT DEC. 31, 2022 (MILLIONS) |  | Private Equity |  | Real Estate (LP Investments)3 |  | Renewable Power and Transition |  | Infrastructure and Other |  | Total
Cash and cash equivalents |  | $ | 953 |  |  | $ | 605 |  |  | $ | 85 |  |  | $ | 7 |  |  | $ | 1,650 |
Accounts receivable and other |  | 1,446 |  |  | 302 |  |  | 379 |  |  | 10 |  |  | 2,137 |
Other financial assets |  | 4,558 |  |  | 188 |  |  | 12 |  |  | 11 |  |  | 4,769 |
Inventory |  | 485 |  |  | 5 |  |  | 31 |  |  | 2 |  |  | 523 |
Equity accounted investments |  | 461 |  |  | 222 |  |  |  |  | — |  |  | 683 |
Investment properties |  | — |  |  | 9,805 |  |  | — |  |  | — |  |  | 9,805 |
Property, plant and equipment |  | 1,502 |  |  | 3,224 |  |  | 3,087 |  |  | 160 |  |  | 7,973 |
Intangible assets |  | 11,594 |  |  | 82 |  |  |  |  | 302 |  |  | 11,978 |
Goodwill |  | 8,155 |  |  | 456 |  |  | 691 |  |  | 279 |  |  | 9,581 |
Deferred income tax assets |  | 62 |  |  | — |  |  | 10 |  |  | 1 |  |  | 73 |
Total assets |  | 29,216 |  |  | 14,889 |  |  | 4,295 |  |  | 772 |  |  | 49,172 |
Less: |  |  |  |  |  |  |  |  |  |
Accounts payable and other |  | (2,300) |  |  | (795) |  |  | (1,201) |  |  | (55) |  |  | (4,351) |
Non-recourse borrowings |  | (4,924) |  |  | (3,707) |  |  | (424) |  |  | (52) |  |  | (9,107) |
Deferred income tax liabilities |  | (1,911) |  |  | (878) |  |  | (50) |  |  | (18) |  |  | (2,857) |
Non-controlling interests 1 |  | (96) |  |  | (1,788) |  |  | (32) |  |  | (64) |  |  | (1,980) |
|  | (9,231) |  |  | (7,168) |  |  | (1,707) |  |  | (189) |  |  | (18,295) |
Net assets acquired 2 |  | $ | 19,985 |  |  | $ | 7,721 |  |  | $ | 2,588 |  |  | $ | 583 |  |  | $ | 30,877 |
1.Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition. 2.Net assets acquired is typically equal to total consideration. Total consideration includes amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors. 3.Real estate LP investments are included within our Asset Management segment as we include the discretionary capital that we invest directly into and alongside private funds managed by BAM and other investments within this segment. The following table summarizes the balance sheet impact as a result of material business combinations that occurred in 2022. No material changes were made to those allocations disclosed in the 2022 consolidated financial statements.

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