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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating activities        
Net income $ 1,664 $ 958 $ 3,519 $ 1,476
Other income and gains (95) 0 (437) (265)
Share of undistributed equity accounted earnings (165) (155) 201 (262)
Fair value changes (833) (213) (1,405) (9)
Depreciation and amortization 672 613 1,342 1,112
Deferred income taxes 203 31 129 139
Investments in residential inventory 83 (11) 22 (107)
Net change in non-cash working capital balances (606) (64) (1,176) (386)
Cash flows from (used in) operating activities 923 1,159 2,195 1,698
Financing activities        
Corporate borrowings arranged 0 0 1,003 743
Corporate borrowings repaid 0 (434) 0 (434)
Commercial paper and bank borrowings, net 0 0 (103) 0
Non-recourse borrowings arranged 9,649 7,520 18,937 13,753
Non-recourse borrowings repaid (5,619) (4,505) (13,621) (9,770)
Non-recourse credit facilities, net 835 (1,296) 269 184
Subsidiary equity obligations issued 26 0 188 249
Subsidiary equity obligations redeemed (32) (123) (374) (299)
Capital provided from non-controlling interests 1,050 4,282 2,717 5,609
Capital repaid to non-controlling interests (1,178) (702) (1,213) (1,422)
Distributions to non-controlling interests (1,767) (813) (3,410) (1,598)
Distributions to shareholders (182) (170) (363) (341)
Cash flows from (used in) financing activities 2,784 3,756 3,826 6,614
Acquisitions        
Investment properties (546) (500) (988) (890)
Property, plant and equipment (398) (412) (749) (809)
Equity accounted investments (220) (555) (417) (712)
Financial assets and other (1,361) (1,115) (2,195) (1,896)
Acquisition of subsidiaries (2,557) (5,949) (4,942) (7,260)
Dispositions        
Investment properties 11 175 769 777
Property, plant and equipment 27 13 556 55
Equity accounted investments 155 701 1,483 723
Financial assets and other 991 746 1,374 1,387
Disposition of subsidiaries (6) (37) (1) 470
Restricted cash and deposits 227 39 35 (64)
Cash flows from (used in) investing activities (3,677) (6,894) (5,075) (8,219)
Cash and cash equivalents        
Change in cash and cash equivalents 30 (1,979) 946 93
Net change in cash classified within assets held for sale (12) 0 (29) 0
Foreign exchange revaluation (149) (19) (143) 37
Balance, beginning of period 6,044 6,427 5,139 4,299
Balance, end of period 5,913 4,429 5,913 4,429
Preferred shares        
Equity Issued/Redeemed [line items]        
Equity redeemed 0 (1) 0 (4)
Common shares        
Equity Issued/Redeemed [line items]        
Equity issued 2 2 7 9
Equity redeemed $ 0 $ (4) $ (211) $ (65)