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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 904 $ 650 $ 806
Adjusted for the following items:      
Earnings from investments in associates and joint ventures, net of distributions received 36 30 72
Depreciation and amortization expense 1,705 1,214 801
Mark-to-market on hedging items, provisions and other 51 153 99
Gain on sale of associate 0 0 (338)
Deferred income tax expense 54 28 46
Changes in non-cash working capital, net (220) 68 (124)
Cash from operating activities 2,530 2,143 1,362
Investing Activities      
Acquisition of subsidiaries, net of cash acquired (3,405) (10,271) (5,825)
Disposal of subsidiaries and assets held for sale, net of cash disposed 745 272 0
Investments in associates and joint ventures (369) (539) (61)
Disposal of investments in associates and joint ventures 0 135 1,289
Purchase of long lived assets (1,472) (1,182) (839)
Disposal of long lived assets 46 38 23
Purchase of financial assets (1,170) (176) (202)
Sale of financial assets and other 933 278 104
Net settlement of foreign exchange hedging items 83 73 (53)
Cash used by investing activities (4,609) (11,372) (5,564)
Financing Activities      
Distributions to general partner (185) (158) (140)
Distributions to other unitholders (949) (869) (779)
Subsidiary distributions to non-controlling interest (1,278) (1,216) (676)
Capital provided by non-controlling interest 3,091 6,902 2,610
Capital provided to non-controlling interest (828) 0 (877)
Disposal of partial interest to non-controlling interest, net of taxes. 168 165 0
Acquisition of partial interest from non-controlling interest (150) 0 0
Deposit received from parent 545 0 0
Proceeds from corporate borrowings 657 376 377
Repayment of corporate borrowings (339) (288) (94)
Proceeds from corporate credit facility 3,183 4,651 1,303
Repayment of corporate credit facility (2,872) (4,341) (1,582)
Proceeds from non-recourse borrowings [1] 5,196 8,625 5,601
Repayment of non-recourse borrowings (4,077) (5,052) (1,650)
Lease liability repaid (240) (106) 0
Preferred units and preferred shares issued, net of repurchases 195 72 341
Partnership units issued, net of costs and repurchases 9 781 (16)
Cash from financing activities 2,126 9,542 4,418
Cash and cash equivalents      
Change during the year 47 313 216
Impact of foreign exchange on cash (7) (13) (50)
Cash reclassified as held for sale 0 (13) 0
Balance, beginning of year 827 540 374
Balance, end of year $ 867 $ 827 $ 540
[1] Includes proceeds from the settlement of cross-currency interest rate swaps at our Australian export terminal.