XML 55 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
SEGMENTED INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2018
Operating Segments [Abstract]  
Summary of financial information by segment
Reportable Segment Measures
AS AT AND FOR THE THREE MONTHS ENDED JUN. 30, 2018
(MILLIONS)
Asset
Management

 
Real Estate

 
Renewable
Power

 
Infrastructure

 
Private Equity

 
Residential Development

 
Corporate
Activities

 
Total
Segments

 
Notes
External revenues
$
18

 
$
1,794

 
$
898

 
$
1,144

 
$
8,678

 
$
686

 
$
58

 
$
13,276

 
 
Inter-segment revenues
362

 
9

 
3

 
—

 
126

 
—

 
(11
)
 
489

 
i
Segmented revenues
380

 
1,803

 
901

 
1,144

 
8,804

 
686

 
47

 
13,765

 
 
FFO from equity accounted investments
—

 
218

 
8

 
193

 
201

 
2

 
3

 
625

 
ii
Interest expense
—

 
(544
)
 
(218
)
 
(133
)
 
(84
)
 
(14
)
 
(80
)
 
(1,073
)
 
iii
Current income taxes
—

 
(1
)
 
(9
)
 
(47
)
 
(52
)
 
(9
)
 
(18
)
 
(136
)
 
iv
Funds from operations
241

 
206

 
66

 
86

 
282

 
14

 
(105
)
 
790

 
v
Common equity
334

 
17,116

 
4,549

 
2,592

 
4,204

 
2,601

 
(7,015
)
 
24,381

 
 
Equity accounted investments
—

 
19,309

 
517

 
7,363

 
2,301

 
434

 
101

 
30,025

 
 
Additions to non-current assets1
—

 
2,951

 
3,214

 
1,514

 
679

 
33

 
24

 
8,415

 
 
1.
Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill


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

 
Real Estate

 
Renewable
Power

 
Infrastructure

 
Private Equity

 
Residential Development

 
Corporate
Activities

 
Total
Segments

 
Notes
External revenues
$
63

 
$
1,748

 
$
654

 
$
1,037

 
$
5,370

 
$
499

 
$
73

 
$
9,444

 
 
Inter-segment revenues
290

 
9

 
—

 
5

 
83

 
—

 
—

 
387

 
i
Segmented revenues
353

 
1,757

 
654

 
1,042

 
5,453

 
499

 
73

 
9,831

 
 
FFO from equity accounted investments
—

 
243

 
4

 
225

 
39

 
(12
)
 
(8
)
 
491

 
ii
Interest expense
—

 
(453
)
 
(157
)
 
(117
)
 
(60
)
 
(20
)
 
(63
)
 
(870
)
 
iii
Current income taxes
—

 
(51
)
 
5

 
(40
)
 
(21
)
 
(3
)
 
22

 
(88
)
 
iv
Funds from operations
231

 
661

 
65

 
84

 
62

 
(30
)
 
(47
)
 
1,026

 
v
Common equity
312

 
16,725

 
4,944

 
2,834

 
4,215

 
2,915

 
(7,893
)
 
24,052

 
 
Equity accounted investments
—

 
19,596

 
509

 
8,793

 
2,385

 
346

 
365

 
31,994

 
 
Additions to non-current assets1
—

 
1,052

 
77

 
6,953

 
3,528

 
18

 
2

 
11,630

 
 
1.
Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill
FOR THE SIX MONTHS
ENDED JUN. 30, 2018
(MILLIONS)
Asset
Management

 
Real Estate

 
Renewable
Power

 
Infrastructure

 
Private Equity

 
Residential Development

 
Corporate
Activities

 
Total
Segments

 
Notes
External revenues
$
81

 
$
3,670

 
$
1,837

 
$
2,257

 
$
16,793

 
$
1,145

 
$
124

 
$
25,907

 
 
Inter-segment revenues
798

 
18

 
6

 
3

 
231

 
—

 
(24
)
 
1,032

 
i
Segmented revenues
879

 
3,688

 
1,843

 
2,260

 
17,024

 
1,145

 
100

 
26,939

 
 
FFO from equity accounted investments
—

 
446

 
20

 
432

 
341

 
7

 
—

 
1,246

 
ii
Interest expense
—

 
(1,074
)
 
(447
)
 
(255
)
 
(151
)
 
(31
)
 
(158
)
 
(2,116
)
 
iii
Current income taxes
—

 
(7
)
 
(16
)
 
(219
)
 
(80
)
 
(13
)
 
(28
)
 
(363
)
 
iv
Funds from operations
604

 
645

 
166

 
427

 
336

 
(19
)
 
(199
)
 
1,960

 
v
Additions to non-current assets1
—

 
6,024

 
3,484

 
1,756

 
803

 
109

 
179

 
12,355

 
 
1.
Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill
FOR THE SIX MONTHS
ENDED JUN. 30, 2017
(MILLIONS)
Asset
Management

 
Real Estate

 
Renewable
Power

 
Infrastructure

 
Private Equity

 
Residential Development

 
Corporate
Activities

 
Total
Segments

 
Notes
External revenues
$
100

 
$
3,435

 
$
1,297

 
$
1,785

 
$
7,768

 
$
938

 
$
122

 
$
15,445

 
 
Inter-segment revenues
543

 
17

 
—

 
5

 
161

 
—

 
—

 
726

 
i
Segmented revenues
643

 
3,452

 
1,297

 
1,790

 
7,929

 
938

 
122

 
16,171

 
 
FFO from equity accounted investments
—

 
461

 
5

 
414

 
75

 
(11
)
 
4

 
948

 
ii
Interest expense
—

 
(922
)
 
(322
)
 
(216
)
 
(90
)
 
(42
)
 
(125
)
 
(1,717
)
 
iii
Current income taxes
—

 
(54
)
 
(12
)
 
(52
)
 
(16
)
 
(5
)
 
34

 
(105
)
 
iv
Funds from operations
397

 
986

 
132

 
167

 
164

 
(38
)
 
(108
)
 
1,700

 
v
Additions to non-current assets1
—

 
4,709

 
144

 
7,273

 
3,617

 
41

 
28

 
15,812

 
 

1.
Includes equity accounted investments, investment properties, property, plant and equipment, sustainable resources, intangible assets and goodwill
Summary of reconciliation of FFO from equity accounted investments
The following table reconciles the company’s consolidated equity accounted income to FFO from equity accounted investments:
 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
2018

 
2017

 
2018

 
2017

Consolidated equity accounted income
$
342

 
$
250

 
$
630

 
$
585

Non-FFO items from equity accounted investments1
283

 
241

 
616

 
363

FFO from equity accounted investments
$
625

 
$
491


$
1,246

 
$
948


1.
Adjustment to back out non-FFO expenses (income) that are included in consolidated equity accounted income including depreciation and amortization, deferred taxes and fair value changes from equity accounted investments
Schedule of components of income tax expense
The following table reconciles consolidated income taxes to current income taxes by segment:
 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
2018

 
2017

 
2018

 
2017

Current tax expense
$
(136
)
 
$
(88
)
 
$
(363
)

$
(105
)
Deferred income tax expense
(203
)
 
(31
)
 
(129
)
 
(139
)
Income tax expense
$
(339
)
 
$
(119
)
 
$
(492
)
 
$
(244
)
Summary of reconciliation of FFO to net income
The following table reconciles net income to total FFO:
 
 
 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
Note
 
2018

 
2017

 
2018

 
2017

Net income
 
 
$
1,664

 
$
958

 
$
3,519

 
$
1,476

Realized disposition gains in fair value changes or equity
vi
 
95

 
499

 
515

 
651

Non-controlling interests in FFO
 
 
(1,294
)
 
(1,103
)
 
(2,756
)
 
(2,032
)
Financial statement components not included in FFO
 
 
 
 
 
 
 
 
 
Equity accounted fair value changes and other non-FFO items
 
 
283

 
241

 
616

 
363

Fair value changes
 
 
(833
)
 
(213
)
 
(1,405
)
 
(9
)
Depreciation and amortization
 
 
672

 
613

 
1,342

 
1,112

Deferred income taxes
 
 
203

 
31

 
129

 
139

Total FFO
 
 
$
790

 
$
1,026

 
$
1,960

 
$
1,700
Summary of financial information by geographic regions
The company’s revenues by location of operations are as follows:
 
Three Months Ended
 
Six Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
2018

 
2017

 
2018

 
2017

United States
$
2,130

 
$
2,041

 
$
4,094

 
$
4,020

Canada
1,596

 
1,091

 
3,264

 
2,248

United Kingdom
6,008

 
3,491

 
11,397

 
4,185

Other Europe
536

 
102

 
994

 
219

Australia
1,069

 
1,099

 
2,129

 
2,018

Brazil
944

 
808

 
2,127

 
1,086

Colombia
346

 
235

 
614

 
479

Other
647

 
577

 
1,288

 
1,190

 
$
13,276

 
$
9,444

 
$
25,907

 
$
15,445


The company’s consolidated assets by location are as follows:
AS AT JUN. 30, 2018 AND DEC. 31, 2017
(MILLIONS)
2018

 
2017

United States
$
87,212

 
$
84,860

Canada
21,777

 
21,897

United Kingdom
22,225

 
20,005

Other Europe
8,130

 
3,979

Australia
14,120

 
14,501

Brazil
20,491

 
23,931

Colombia
9,024

 
7,362

Other
16,189

 
16,185

 
$
199,168

 
$
192,720