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SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY
6 Months Ended
Jun. 30, 2018
Interests In Other Entities [Abstract]  
SUBSIDIARIES
SUBSIDIARY PUBLIC ISSUERS AND FINANCE SUBSIDIARY
Brookfield Finance Inc. (“BFI”) is an indirect 100% owned subsidiary of the corporation that may offer and sell debt securities. Any debt securities issued by BFI are fully and unconditionally guaranteed by the company. BFI issued $500 million of 4.25% notes due in 2026 on May 25, 2016, $550 million and $350 million of 4.70% notes due in 2047 on September 14, 2017 and January 17, 2018, respectively, and $650 million of 3.90% notes due in 2028 on January 17, 2018.
Brookfield Finance LLC (“BFL”) is a Delaware limited liability company formed on February 6, 2017 and an indirect 100% owned subsidiary of the corporation. BFL is a “finance subsidiary,” as defined in Rule 3-10 of Regulation S-X. Any debt securities issued by BFL are fully and unconditionally guaranteed by the corporation. On March 10, 2017, BFL issued $750 million of 4.00% notes due in 2024. BFL has no independent activities, assets or operations other than in connection with any debt securities it may issue.
Brookfield Investments Corporation (“BIC”) is an investment company that holds investments in the real estate and forest products sectors, as well as a portfolio of preferred shares issued by the corporation’s subsidiaries. The corporation provided a full and unconditional guarantee of the Class 1 Senior Preferred Shares, Series A issued by BIC. As at June 30, 2018, C$42 million of these senior preferred shares were held by third-party shareholders and are retractable at the option of the holder.
The following tables contain summarized financial information of the corporation, BFI, BFL, BIC and non-guarantor subsidiaries:
AS AT AND FOR THE THREE MONTHS ENDED JUN. 30, 2018
(MILLIONS)
The  Corporation1 

 
BFI 

 
BFL

 
BIC

 
Subsidiaries of the corporation 
other than BFI, BFL and BIC

 
Consolidating 
Adjustments3  

 
The Company 
Consolidated 

Revenues
$
181

 
$
9

 
$
13

 
$
29

 
$
14,200

 
$
(1,156
)
 
$
13,276

Net income attributable to shareholders
680

 
(13
)
 
(1
)
 
30

 
484

 
(500
)
 
680

Total assets
57,641

 
3,578

 
757

 
3,849

 
214,991

 
(81,648
)
 
199,168

Total liabilities
29,068

 
2,099

 
756

 
2,448

 
119,048

 
(33,421
)
 
119,998

 
 
 
 
 
 
 
 
 
 
 
 
 
 
AS AT DEC. 31, 2017
AND FOR THE THREE MONTHS ENDED JUN. 30, 2017
(MILLIONS)
The  Corporation1 

 
BFI 

 
BFL

 
BIC

 
Subsidiaries of the corporation 
other than BFI, BFL and BIC

 
Consolidating 
Adjustments3  

 
The Company 
Consolidated 

Revenues
$
33

 
$
6

 
$
13

 
$
4

 
$
10,373

 
$
(985
)
 
$
9,444

Net income attributable to shareholders
225

 

 

 
2

 
443

 
(445
)
 
225

Total assets
53,688

 
1,060

 
757

 
3,761

 
206,907

 
(73,453
)
 
192,720

Total liabilities
25,444

 
1,042

 
756

 
2,309

 
113,336

 
(30,039
)
 
112,848

 
 
 
 
 
 
 
 
 
 
 
 
 
 
FOR THE SIX MONTHS ENDED JUN. 30, 2018
(MILLIONS)
The  Corporation1 

 
BFI 

 
BFL

 
BIC

 
Subsidiaries of the corporation 
other than BFI, BFL and BIC
2 

 
Consolidating 
Adjustments3  

 
The Company 
Consolidated 

Revenues
$
395

 
$
22

 
$
26

 
$
58

 
$
27,665

 
$
(2,259
)
 
$
25,907

Net income attributable to shareholders
1,537

 
(21
)
 
(1
)
 
39

 
964

 
(981
)
 
1,537

 
 
 
 
 
 
 
 
 
 
 
 
 
 
FOR THE SIX MONTHS ENDED JUN. 30, 2017
(MILLIONS)
The  Corporation1 

 
BFI 

 
BFL

 
BIC

 
Subsidiaries of the corporation 
other than BFI, BFL and BIC
2 

 
Consolidating 
Adjustments3  

 
The Company 
Consolidated 

Revenues
$
64

 
$
11

 
$
16

 
$
5

 
$
17,439

 
$
(2,090
)
 
$
15,445

Net income attributable to shareholders
188

 

 

 
15

 
1,032

 
(1,047
)
 
188


1.
This column accounts for investments in all subsidiaries of the corporation under the equity method
2.
This column accounts for investments in all subsidiaries of the corporation other than BFI, BFL and BIC on a combined basis
3.
This column includes the necessary amounts to present the company on a consolidated basis