SUBSIDIARY EQUITY OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of financial liabilities [abstract]

Disclosure of detailed information about equity interests classified as liabilities [Table Text Block]

b)    Infrastructure

Our infrastructure property, plant and equipment consists of the following:

	Utilities				Transport				Midstream				Data				Sustainable Resources and Other				Total
AS AT AND FOR THE YEAR ENDED DEC. 31 (MILLIONS)	2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019
Cost, beginning of year	$	8,654	$	6,248	$	8,309	$	2,495	$	3,971	$	2,443	$	1,131	$	444	$	389	$	429	$	22,454	$	12,059
Changes in basis of accounting	—		110		—		356		—		108		—		633		—		—		—		1,207
Additions, net of disposals and assets reclassified as held for sale	550		34		146		171		277		136		51		(43)		(16)		(25)		1,008		273
Acquisitions through business combinations	—		2,135		—		5,283		—		1,197		7,334		95		—		—		7,334		8,710
Foreign currency translation	102		127		243		4		73		87		77		2		(79)		(15)		416		205
Cost, end of year	9,306		8,654		8,698		8,309		4,321		3,971		8,593		1,131		294		389		31,212		22,454
Accumulated fair value changes, beginning of year	2,187		2,002		857		810		317		221		—		—		416		447		3,777		3,480
Disposition and assets reclassified as held for sale	—		(416)		—		—		—		—		—		—		—		(37)		—		(453)
Fair value changes	652		572		113		45		21		92		—		—		6		6		792		715
Foreign currency translation	78		29		77		2		—		4		—		—		(98)		—		57		35
Accumulated fair value changes, end of year	2,917		2,187		1,047		857		338		317		—		—		324		416		4,626		3,777
Accumulated depreciation, beginning of year	(1,172)		(985)		(950)		(744)		(208)		(120)		(88)		—		(41)		(40)		(2,459)		(1,889)
Depreciation expenses	(419)		(415)		(498)		(178)		(141)		(84)		(189)		(87)		(10)		(10)		(1,257)		(774)
Dispositions and assets reclassified as held for sale	12		247		134		(25)		—		3		17		—		7		7		170		232
Foreign currency translation	(34)		(19)		(90)		(3)		(7)		(7)		(3)		(1)		9		2		(125)		(28)
Accumulated depreciation, end of year	(1,613)		(1,172)		(1,404)		(950)		(356)		(208)		(263)		(88)		(35)		(41)		(3,671)		(2,459)
Balance, end of year	$	10,610	$	9,669	$	8,341	$	8,216	$	4,303	$	4,080	$	8,330	$	1,043	$	583	$	764	$	32,167	$	23,772

Subsidiary equity obligations consist of the following:

AS AT DEC. 31 (MILLIONS)	Note	2020		2019
Subsidiary preferred equity units	(a)	$	1,679	$	1,650
Limited-life funds and redeemable fund units	(b)	1,456		1,896
Subsidiary preferred shares and capital	(c)	564		586
Total		$	3,699	$	4,132

AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION)	Shares Outstanding	Cumulative Dividend Rate		Local Currency	2020		2019
Series 1	24,000,000	6.25	%	US$	$	586	$	574
Series 2	24,000,000	6.50	%	US$	555		546
Series 3	24,000,000	6.75	%	US$	538		530
Total					$	1,679	$	1,650

As at December 31, 2020 and 2019, the balance related to obligations of BPY and its subsidiaries.

AS AT DEC. 31 (MILLIONS, EXCEPT PER SHARE INFORMATION)	Shares Outstanding	Cumulative Dividend Rate		Local Currency	2020		2019
Brookfield Property Split Corp (“BOP Split”) senior preferred shares
Series 1	842,534	5.25	%	US$	$	21	$	23
Series 2	556,746	5.75	%	C$	11		13
Series 3	789,718	5.00	%	C$	16		18
Series 4	594,994	5.20	%	C$	12		18
BSREP II RH B LLC (“Manufactured Housing”) preferred capital		9.00	%	US$	249		249
Rouse Series A preferred shares	5,600,000	5.00	%	US$	142		142
BSREP II Vintage Estate Partners LLC (“Vintage Estates”) preferred shares	10,000	5.00	%	US$	40		40
BIP Investment Corporation Series 1 Senior preferred shares	4,000,000	5.85	%	C$	73		73
Forest City Enterprises L.P. (“Forest City”) & Other Preferred Capital					—		10
Total					$	564	$	586