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CAPITAL MANAGEMENT (Tables)

6 Months Ended

Jun. 30, 2022

Disclosure of Capital Management [Abstract]

We define Invested Capital as partnership capital removing the impact of the following items: non-controlling interest in operating subsidiaries, retained earnings or deficit, accumulated other comprehensive income and ownership changes.


	As of
US$ MILLIONS	June 30, 2022		December 31, 2021
Partnership Capital	$	26,039	$	26,391
Remove impact of the following items since inception:
Non-controlling interest - in operating subsidiaries	(15,720)		(15,658)
Deficit	2,865		2,520
Accumulated other comprehensive income	(393)		(543)
Ownership changes and other	(515)		(515)
Invested Capital	$	12,276	$	12,195

The following table presents the change in Invested Capital during the three and six-month periods ended June 30, 2022 and 2021:


	For the three-month period ended June 30				For the six-month period ended June 30
US$ MILLIONS	2022		2021		2022		2021
Opening balance	$	12,272	$	9,410	$	12,195	$	9,213
Net (redemption) issuance of preferred units	—		—		(220)		194


Issuance of perpetual subordinated notes	—		—		293		—
Issuance of limited partnership units	4		3		8		6
Ending balance	$	12,276	$	9,413	$	12,276	$	9,413
Weighted Average Invested Capital	$	12,272	$	9,410	$	12,346	$	9,386