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SEGMENTED INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of operating segments [abstract] |
Disclosure of entity's operating segments | c) Reportable Segment Measures
AS AT AND FOR THE YEAR ENDED DEC. 31, 2024 (MILLIONS) | Asset Management |  | Wealth Solutions 2,3 |  | Renewable Power and Transition |  | Infrastructure |  | Private Equity 3 |  | Real Estate |  | Corporate Activities |  | Total Segments |  | Note
External revenues | $ | 10,043 |  |  | n/a |  | $ | 6,485 |  |  | $ | 21,525 |  |  | $ | 41,321 |  |  | $ | 6,156 |  |  | $ | 476 |  |  | $ | 86,006 |  |  |
Inter-segment and other revenues 1 | 4,577 |  |  | n/a |  | 4 |  |  | 5 |  |  | 80 |  |  | 62 |  |  | (176) |  |  | 4,552 |  |  | i
Segmented revenues | 14,620 |  |  | n/a |  | 6,489 |  |  | 21,530 |  |  | 41,401 |  |  | 6,218 |  |  | 300 |  |  | 90,558 |  |  |
DE | 3,094 |  |  | 1,350 |  |  | n/a |  | n/a |  | n/a |  | n/a |  | n/a |  | n/a |  | ii
FFO 1 | n/a |  | n/a |  | 470 |  |  | 567 |  |  | 951 |  |  | n/a |  | 271 |  |  | n/a |  | ii
NOI | n/a |  | n/a |  | n/a |  | n/a |  | n/a |  | 3,397 |  |  | n/a |  | n/a |  | ii
Common Equity | 17,338 |  |  | 10,872 |  |  | 4,485 |  |  | 2,202 |  |  | 1,879 |  |  | 23,085 |  |  | (17,987) |  |  | 41,874 |  |  |
1.We equity account for our investment in Oaktree and include our share of the FFO at 73%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the year ended December 31, 2024, $1.9 billion of Oaktree’s revenue was included in our Asset Management segment revenue. 2.We equity account for our investment in BWS, and as such do not generate consolidated external or inter-segment revenues. 3.In the fourth quarter of 2024, our Wealth Solutions business acquired a $1 billion economic interest in BBU from the Corporation in exchange for newly-issued BWS Class C shares. On a combined basis with our Wealth Solutions business, we hold a 66% ownership interest in BBU, 41% being directly held by the Corporation.
AS AT AND FOR THE YEAR ENDED DEC. 31, 2023 (MILLIONS) | Asset Management |  | Wealth Solutions 2 |  | Renewable Power and Transition |  | Infrastructure |  | Private Equity |  | Real Estate |  | Corporate Activities |  | Total Segments |  | Note
External revenues | $ | 10,219 |  |  | n/a |  | $ | 5,310 |  |  | $ | 18,234 |  |  | $ | 55,683 |  |  | $ | 6,169 |  |  | $ | 309 |  |  | $ | 95,924 |  |  |
Inter-segment and other revenues 1 | 4,820 |  |  | n/a |  | — |  |  | 6 |  |  | 56 |  |  | 35 |  |  | 32 |  |  | 4,949 |  |  | i
Segmented revenues | 15,039 |  |  | n/a |  | 5,310 |  |  | 18,240 |  |  | 55,739 |  |  | 6,204 |  |  | 341 |  |  | 100,873 |  |  |
DE | 3,135 |  |  | 740 |  |  | n/a |  | n/a |  | n/a |  | n/a |  | n/a |  | n/a |  | ii
FFO 1 | n/a |  | n/a |  | 418 |  |  | 653 |  |  | 1,876 |  |  | n/a |  | (463) |  |  | n/a |  | ii
NOI 3 | n/a |  | n/a |  | n/a |  | n/a |  | n/a |  | 3,490 |  |  | n/a |  | n/a |  | ii
Common Equity | 19,484 |  |  | 6,144 |  |  | 4,887 |  |  | 2,537 |  |  | 3,291 |  |  | 22,413 |  |  | (17,082) |  |  | 41,674 |  |  |
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 year ended December 31, 2023, $1.7 billion of Oaktree’s revenue was included in our Asset Management segment revenue. 2.We equity account for our investment in BWS, and as such do not generate consolidated external or inter-segment revenues. 3.For comparability, we have excluded property management and development fees of $126 million for the year ended December 31, 2023 as they are no longer recognized in NOI.

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