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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities      
Net income $ 806 $ 574 $ 528 [1]
Adjusted for the following items:      
Earnings from investments in associates and joint ventures, net of distributions received 72 (52) (202)
Depreciation and amortization expense 801 671 447
Mark-to-market on hedging items, provisions and other 99 90 (47)
Gain (Loss) on Disposition of Business (338) 0 0
Deferred income tax expense (recovery) 46 67 (18)
Changes in non-cash working capital, net (124) 131 45
Cash from operating activities 1,362 1,481 753
Investing Activities      
Acquisition of subsidiaries, net of cash acquired (5,825) (4,223) (520)
Disposal of subsidiaries, net of cash disposed 0 0 353
Additions of investments in associates and joint ventures (61) (620) (887)
Proceeds from sales of investments accounted for using equity method 1,289 0 0
Purchase of long lived assets (839) (714) (690)
Disposal of long lived assets 23 47 7
Purchase of financial assets (202) (318) (191)
Sale of financial assets and other 104 258 727
Net settlement of foreign exchange hedging items (53) (151) 143
Cash used by investing activities (5,564) (5,721) (1,058)
Financing Activities      
Distributions to general partner (140) (114) (84)
Distributions to other unitholders (779) (680) (544)
Subsidiary distributions to non-controlling interest (676) (831) (169)
Capital provided by non-controlling interest 2,610 2,847 835
Capital provided to non-controlling interest (877) 0 (51)
Proceeds from corporate borrowings 377 537 0
Repayment of corporate borrowings (94) (306) 0
Proceeds from corporate credit facility 1,303 2,403 2,316
Repayment of corporate credit facility (1,582) (1,614) (2,723)
Proceeds from non-recourse borrowings 5,601 668 1,406
Repayment of non-recourse borrowings (1,650) (308) (984)
Repayment of other financing activities 0 0 (38)
Preferred units issued, net of repurchases 341 220 186
Partnership units issued, net of issuance costs 14 992 755
Partnership units repurchased (30) 0 (6)
Cash from financing activities 4,418 3,814 899
Cash and cash equivalents      
Change during the year 216 (426) 594
Impact of foreign exchange on cash (50) 14 (7)
Balance, beginning of year 374 786 199
Balance, end of year $ 540 $ 374 $ 786
[1] Certain net income allocations have been reclassified to provide comparability with the current year consolidated statements of partnership capital.