XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income (loss) $ 996 $ 3,499 $ (2,058)
Share of equity accounted earnings, net of distributions (563) (848) 1,367
Fair value (gains) losses, net (20) (2,521) 1,322
Deferred income tax expense (benefit) 118 356 162
Depreciation and amortization 287 308 319
Working capital and other (871) (188) 220
Cash flows from (used in) operating activities (53) 606 1,332
Financing activities      
Debt obligations, issuance 9,048 16,010 11,392
Debt obligations, repayments (10,704) (15,704) (9,821)
Capital securities, issued 57 932 0
Capital securities, redeemed (3) (301) (13)
Preferred equity, issued 0 0 278
Non-controlling interests, issued 2,605 4,624 350
Non-controlling interests, purchased (2,455) (263) (30)
Settlement of deferred consideration (5) 0 0
Repayment of lease liabilities (26) (23) (22)
Limited partnership units, issued 0 0 738
Issuances to redeemable/exchangeable and special limited partnership unitholders 0 1,252 225
Cash flows from (used in) financing activities (6,458) (666) (215)
Acquisitions      
Investment properties (1,395) (2,107) (2,306)
Property, plant and equipment (207) (156) (169)
Equity accounted investments (91) (688) (522)
Financial assets and other (889) (1,290) (1,169)
Cash acquired in business combinations 70 35 0
Dispositions      
Investment properties 1,861 2,431 2,252
Property, plant and equipment 58 373 29
Equity accounted investments 972 796 124
Financial assets and other 1,702 1,267 1,273
Disposition of subsidiaries 5,689 (203) 522
Cash impact of deconsolidation and reclassification to assets held for sale (73) 0 (32)
Restricted cash and deposits 114 (276) (101)
Cash flows from (used in) investing activities 7,811 182 (99)
Cash and cash equivalents      
Net change in cash and cash equivalents during the year 1,300 122 1,018
Effect of exchange rate fluctuations on cash and cash equivalents held in foreign currencies (59) (19) 17
Balance, beginning of year 2,576 2,473 1,438
Balance, end of year 4,020 2,576 2,473
Cash paid for:      
Income taxes, net of refunds received 114 67 107
Interest (excluding dividends on capital securities) 2,450 2,312 2,276
Disposal groups classified as held for sale      
Cash and cash equivalents      
Net change in cash and cash equivalents during the year 203 0 0
Exchange LP Units      
Financing activities      
Repurchased units 0 (18) 0
Limited partners      
Operating activities      
Net income (loss) (47) 530 (1,098)
Financing activities      
Repurchased units 0 (2,660) (935)
Distributions (419) (358) (583)
Class A shares of Brookfield Properties Retail Holding LLC      
Financing activities      
Repurchased units 0 (370) (171)
Distributions 0 (13) (68)
Interests of others in operating subsidiaries and properties      
Financing activities      
Distributions (3,757) (3,223) (920)
Preferred distributions      
Financing activities      
Distributions (44) (44) (42)
Redeemable/ exchangeable and special limited partnership units      
Financing activities      
Distributions (748) (504) (587)
Limited partnership units of Brookfield Office Properties Exchange LP      
Financing activities      
Distributions 0 (1) (4)
FV LTIP units of the Operating Partnership      
Financing activities      
Repurchased units (5) 0 0
Distributions $ (2) $ (2) $ (2)