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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Instruments [Abstract]  
Notional amount of derivative positions
The aggregate notional amount of our company’s derivative positions at December 31, 2023 and 2022 were as follows:
As of December 31,
US$ MILLIONSNote20232022
Interest rate swaps and other(a)$2,946 $993 
 $2,946 $993 
Disclosure of change in fair values of derivative positions
The following table presents the change in fair values of our company’s derivative positions during the years ended December 31, 2023 and 2022:
US$ MILLIONSUnrealized Gains
During 2023		Unrealized Losses
During 2023		Net Change During 2023Net Change During 2022
Interest rate swaps and other$24 $(36)$(12)$(58)
$24 $(36)$(12)$(58)
Disclosure of information about terms and conditions of hedging instruments
The following table presents the notional amounts underlying our company’s derivative instruments by term to maturity as at December 31, 2023 and the comparative notional amounts at December 31, 2022. Our Company’s derivative instruments qualify for hedge accounting:
 20232022
US$ MILLIONS< 1 year1 to 5 years> 5 yearsTotal Notional
Amount		Total Notional
Amount
Interest rate swaps and other
$300 $1,646 $1,000 $2,946 $993 
$300 $1,646 $1,000 $2,946 $993 
Disclosure of derivatives elected for hedge accounting Changes in the fair value of the effective portion of the hedges are recorded in either other comprehensive income or net income, depending on the hedge classification, whereas changes in the fair value of the ineffective portion of the hedge are recorded in net income:
 20232022
AS AT AND FOR THE YEARS ENDED (US$ MILLIONS)NotionalEffective
Portion		Ineffective
Portion		NotionalEffective
Portion		Ineffective
Portion
Cash flow hedges$2,946 $(24)$— $993 $(58)$—