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COMMERCIAL PROPERTY REVENUE (Tables) | 12 Months Ended
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Dec. 31, 2022
Revenue [abstract] |
Disclosure of components of commercial property revenue | The components of commercial property revenue are as follows:
(US$ Millions) Years ended Dec. 31, | 2022 | 2021 | 2020
Base rent | $ | 3,153 |  | $ | 3,462 |  | $ | 3,613 |
Straight-line rent | 25 |  | 25 |  | 133 |
Lease termination | 27 |  | 68 |  | 27 |
Other lease income(1) | 662 |  | 662 |  | 627 |
Other revenue from tenants(2) | 982 |  | 946 |  | 997 |
Total commercial property revenue | $ | 4,849 |  | $ | 5,163 |  | $ | 5,397 |
(1)Other lease income includes parking revenue and recovery of property tax and insurance expense from tenants. (2)Consists of recovery of certain operating expenses and other revenue from tenants which are accounted for in accordance with IFRS 15.
Disclosure of maturity analysis of operating lease payments | Minimum rental commitments under non-cancellable tenant operating leases are as follows:
(US$ Millions) | Dec. 31, 2022 | Dec. 31, 2021
Less than 1 year | $ | 2,933 |  | $ | 2,776 |
1-5 years | 9,266 |  | 9,029 |
More than 5 years | 8,559 |  | 8,522 |
Total | $ | 20,758 |  | $ | 20,327 |

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- Definition The disclosure of a maturity analysis of operating lease payments. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Paragraph 97 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&anchor=para_97&doctype=Standard -URIDate 2022-03-24 + Details
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