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EQUITY (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [abstract]  
Disclosure of classes of share capital
The partnership had the following capital securities outstanding as of December 31, 2022 and 2021:
 
(US$ Millions, except where noted)Shares
outstanding		Cumulative
dividend rate		Dec. 31, 2022Dec. 31, 2021
Operating Partnership Class A Preferred Equity Units:    
Series 224,000,000 6.50 %$575 $565 
Series 324,000,000 6.75 %556 546 
New LP Preferred Units(1)
19,273,654 6.25 %474 474 
BPO Class B Preferred Shares:
Series 1(2)
3,600,000 
70% of bank prime
— — 
Series 2(2)
3,000,000 
70% of bank prime
— — 
Brookfield Property Split Corp. (“BOP Split”) Senior Preferred Shares:   
Series 1829,334 5.25 %21 21 
Series 2555,146 5.75 %10 11 
Series 3668,228 5.00 %12 15 
Series 4541,892 5.20 %10 12 
Rouse Series A Preferred Shares5,600,000 5.00 %142 142 
Brookfield India Real Estate Trust155,003,656 
See footnote (3)
456 440 
Capital Securities – Fund Subsidiaries577 859 
Total capital securities  $2,833 $3,085 
Current  $600 $61 
Non-current  2,233 3,024 
Total capital securities  $2,833 $3,085 
(1)New LP Preferred Units shares outstanding is presented net of intracompany shares held by Holding LP.
(2)Class B, Series 1 and 2 capital securities - corporate are owned by Brookfield Corporation. BPO has an offsetting loan receivable against these securities earning interest at 95% of bank prime.
(3)The dividend rate pertaining to India REIT is equal to a minimum of 90% of net distributable cash flows.
The following table presents changes to the GP Units and LP Units from the beginning of the year:
 
 GP UnitsLP Units
(Thousands of units), Years ended Dec. 31, 202220212020202220212020
Outstanding, beginning of year139 139 139 298,987 435,980 439,802 
Privatization— — — (146,278)— 
Exchange LP Units exchanged— — — — 128 169 
BPYU Units exchanged— 8,922 11,580 
Distribution reinvestment program— — — — 123 998 
Issued under unit-based compensation plan— — — — 112 — 
LP Units issued— — — — — 59,497 
Repurchases of LP Units— — — — — (76,066)
Outstanding, end of year139 139 139 298,987 298,987 435,980 
The following table presents changes to the Exchange LP Units from the beginning of the year:
 
 Exchange LP Units
(Thousands of units)Dec. 31, 2022Dec. 31, 2021Dec. 31, 2020
Outstanding, beginning of year— 2,714 2,883 
Exchange LP Units exchanged (1)
— (128)(169)
Privatization— (2,586)— 
Outstanding, end of year— — 2,714 
(1)Exchange LP Units issued for the acquisition of incremental BPO common shares that have been exchanged are held by an indirect subsidiary of the partnership. Refer to the Consolidated Statements of Changes in Equity for the impact of such exchanges on the carrying value of Exchange LP Units.
Schedule of distributions made to partners
Distributions made to each class of partnership units, including units of subsidiaries that are exchangeable into LP Units, are as follows:
 
(US$ Millions, except per unit information) Years ended Dec. 31,202220212020
Limited partners$419 $358 $583 
Holders of:  
Redeemable/exchangeable partnership units743 499 581 
Special LP Units5 5 6 
Exchange LP Units— 1 4 
FV LTIP of the Operating Partnership2 2 2 
BPYU Units— 13 68 
Total distributions$1,169 $878 $1,244 
Per unit(1)
$1.40 $1.05 $1.33 
(1)Per unit outstanding on the record date for each.