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ACQUISITIONS OF CONSOLIDATED ENTITIES
 6 Months Ended
Jun. 30, 2019
Disclosure of detailed information about business combination [abstract]  
ACQUISITIONS OF CONSOLIDATED ENTITIES
ACQUISITIONS OF CONSOLIDATED ENTITIES
The following table summarizes the balance sheet impact as a result of business combinations that occurred in the six months ended June 30, 2019. No material changes were made to the provisional allocations:
(MILLIONS)
Private Equity

 
Infrastructure and other

 
 
Total 

Cash and cash equivalents
$
48

 
$
5

 
 
$
53

Accounts receivable and other
1,842

 
86

 
 
1,928

Inventory
2,239

 
28

 
 
2,267

Equity accounted investments
847

 
—

 
 
847

Investment properties
—

 
211

 
 
211

Property, plant and equipment
6,254

 
2,310

 
 
8,564

Intangible assets
6,746

 
520

 
 
7,266

Goodwill
3,187

 
83

 
 
3,270

Deferred income tax assets
485

 
—

 
 
485

Total assets
21,648

 
3,243

 
 
24,891

Less:
 
 
 
 
 
 
Accounts payable and other
(2,739
)
 
(89
)
 
 
(2,828
)
Non-recourse borrowings
(375
)
 
(203
)
 
 
(578
)
Deferred income tax liabilities
(1,227
)
 
(33
)
 
 
(1,260
)
Non-controlling interests1
(451
)
 
(578
)
 
 
(1,029
)
 
(4,792
)
 
(903
)
 
 
(5,695
)
Net assets acquired
$
16,856

 
$
2,340

 
 
$
19,196

 
 
 
 
 
 
 
Consideration2
$
16,856

 
$
2,340

 
 
$
19,196


1.
Includes non-controlling interests recognized on business combinations measured as the proportionate share of fair value of the identifiable assets and liabilities on the date of acquisition.
2.
Total consideration, including amounts paid by non-controlling interests that participated in the acquisition as investors in Brookfield-sponsored private funds or as co-investors.
Private Equity
On June 6, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Healthscope Limited, an Australian private healthcare provider, for a total cash consideration of $4.1 billion. The acquisition resulted in recognition of $1.5 billion of goodwill, which is largely reflective of potential growth from integration of the operations. None of the goodwill recognized is deductible for tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $663 million and $73 million, respectively.
On April 20, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in Clarios, a global automotive battery business, for total cash consideration of $12.8 billion. The acquisition resulted in recognition of $1.7 billion of goodwill, which is largely reflective of potential growth from integration of the operations. Approximately $20 million of the goodwill recognized is deductible for tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $3.8 billion and $33 million, respectively.
Infrastructure
On March 22, 2019, a subsidiary of the company, along with institutional partners, acquired a 100% interest in East-West Pipeline Limited, an Indian natural gas pipeline business, for total cash consideration of $1.9 billion. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $179 million and $6 million, respectively.