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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating activities        
Net (loss) income $ (1,493) $ 704 $ (1,650) $ 1,960
Other income and gains (29) (889) (270) (921)
Share of undistributed equity accounted earnings 835 (838) 1,328 (1,050)
Fair value changes 1,153 1,398 1,567 1,229
Depreciation and amortization 1,376 1,234 2,785 2,268
Deferred income taxes (96) 7 72 56
Investments in residential inventory (109) (3) (167) (34)
Net change in non-cash working capital balances (21) (810) (367) (1,109)
Cash flows from (used in) operating activities 1,616 803 3,298 2,399
Financing activities        
Corporate borrowings arranged 745 0 1,334 992
Corporate borrowings repaid 0 (450) (251) (450)
Non-recourse borrowings arranged 5,779 23,726 16,654 32,122
Non-recourse borrowings repaid (5,713) (10,490) (13,994) (17,486)
Non-recourse credit facilities, net 981 178 (873) (262)
Subsidiary equity obligations issued 73 180 195 182
Subsidiary equity obligations redeemed (20) (25) (24) (30)
Capital provided from non-controlling interests 1,649 6,296 8,018 7,899
Capital repaid to non-controlling interests (112) (537) (1,121) (1,242)
Repayment of lease liability (140) (128) (271) (228)
Distributions to non-controlling interests (1,308) (1,919) (3,465) (4,407)
Distributions to shareholders (217) (191) (434) (381)
Cash flows from (used in) financing activities 1,627 16,582 5,464 16,607
Acquisitions        
Investment properties (1,206) (1,047) (2,081) (2,026)
Property, plant and equipment (579) (652) (1,992) (1,190)
Equity accounted investments (207) (340) (1,729) (1,265)
Financial assets and other (7,100) (2,526) (11,611) (4,127)
Acquisition of subsidiaries 65 (17,066) (56) (19,319)
Dispositions        
Investment properties 253 786 544 1,700
Property, plant and equipment 13 63 55 77
Equity accounted investments 12 454 90 1,094
Financial assets and other 5,290 2,310 10,204 3,701
Disposition of subsidiaries 10 1,112 962 1,147
Restricted cash and deposits (216) 158 (138) 229
Cash flows from (used in) investing activities (3,665) (16,748) (5,752) (19,979)
Cash and cash equivalents        
Change in cash and cash equivalents (422) 637 3,010 (973)
Net change in cash classified within assets held for sale (3) 34 21 (22)
Foreign exchange revaluation 80 36 (286) 52
Balance, beginning of period 9,868 6,740 6,778 8,390
Balance, end of period 9,523 7,447 9,523 7,447
Preferred shares        
Equity Issued/Redeemed [line items]        
Equity redeemed 0 (2) 0 (15)
Common shares        
Equity Issued/Redeemed [line items]        
Equity issued 2 2 5 6
Equity redeemed $ (92) $ (58) $ (309) $ (93)