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RELATED PARTY TRANSACTIONS (Details) - USD ($)
 3 Months Ended 12 Months Ended
Aug. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Mar. 28, 2023
Disclosure of transactions between related parties [line items]            
Director fees     $ 2,000,000 $ 1,000,000 $ 1,000,000  
Asset management fee as percent per quarter     0.3125%      
Asset management fee, percent     1.25%      
Credit facility, maximum borrowing capacity     $ 528,000,000      
Corporate borrowings   $ 3,202,000,000 3,394,000,000 3,202,000,000    
Non-recourse borrowings   26,567,000,000 40,904,000,000 26,567,000,000    
Proceeds from exercise of options     524,000,000 659,000,000 1,324,000,000  
Australian regulated utility operation            
Disclosure of transactions between related parties [line items]            
Ownership interest 7.90%          
Proceeds from sales of interests in associates $ 435,000,000          
Gain on sale of subsidiary 30,000,000          
Reclassification adjustments on exchange differences on translation, net of tax $ 28,000,000          
Revolving credit facility with Brookfield            
Disclosure of transactions between related parties [line items]            
Credit facility, maximum borrowing capacity   1,000,000,000 1,000,000,000 1,000,000,000    
Non-recourse borrowings   0 $ 0 0    
Revolving credit facility with Brookfield | Floating interest rate            
Disclosure of transactions between related parties [line items]            
Borrowings, adjustment to interest rate basis     1.90%      
Service Provider            
Disclosure of transactions between related parties [line items]            
Asset management fee as percent per quarter     0.3125%      
Asset management fee, percent     1.25%      
Services received, related party transactions     $ 401,000,000 421,000,000 394,000,000  
Amounts payable, related party transactions   91,000,000 97,000,000 91,000,000    
Subsidiary of Common Parent (Brookfield)            
Disclosure of transactions between related parties [line items]            
Amounts payable, related party transactions   25,000,000 35,000,000 25,000,000    
Non-recourse borrowings           $ 500,000,000
Interest expense     26,000,000      
Subsidiary of Common Parent (Brookfield) | Floating interest rate            
Disclosure of transactions between related parties [line items]            
Borrowings, adjustment to interest rate basis           2.00%
Subsidiary of Common Parent (Brookfield) | Brookfield Office Properties Inc.            
Disclosure of transactions between related parties [line items]            
Services received, related party transactions     143,000,000 144,000,000 37,000,000  
Revenue from rendering of services, related party transactions     20,000,000 8,000,000 10,000,000  
Right-of-use assets   12,000,000 12,000,000 12,000,000    
Brookfield            
Disclosure of transactions between related parties [line items]            
Deposit balance   0 0 0    
Earned interest on deposits     0 4,000,000 $ 3,000,000  
Corporate borrowings   160,000,000 110,000,000 160,000,000    
Non-recourse borrowings   700,000,000 300,000,000 $ 700,000,000    
Associates            
Disclosure of transactions between related parties [line items]            
Assets transferred to Parent   $ 310,000,000        
Proceeds from exercise of options     $ 213,000,000