SEGMENTED INFORMATION

6 Months Ended

Jun. 30, 2021

Disclosure of operating segments [abstract]

Reportable Segment Measures


AS AT AND FOR THE THREE MONTHS ENDED JUN. 30, 2021 (MILLIONS)	Asset Management		Corporate Activities		Real Estate		Renewable Power		Infrastructure		Private Equity		Residential Development		Total Segments		Note
External revenues	$	91	$	94	$	2,226	$	1,279	$	2,853	$	11,134	$	609	$	18,286
Inter-segment and other revenues1	1,134		(6)		8		—		3		128		—		1,267		i
Segmented revenues	1,225		88		2,234		1,279		2,856		11,262		609		19,553
FFO from equity accounted investments1	74		8		182		52		401		86		13		816		ii
Interest expense	—		(100)		(757)		(223)		(372)		(362)		(17)		(1,831)		iii
Current income taxes	—		(10)		—		(22)		(93)		(119)		(2)		(246)		iv
Funds from operations1	688		(61)		189		88		317		337		42		1,600		v
Common equity	4,908		(4,705)		20,108		4,580		2,323		3,703		2,452		33,369
Equity accounted investments	4,495		1,631		22,019		1,612		10,171		3,012		375		43,315
Additions to non-current assets2	—		797		6,462		300		514		410		67		8,550

1.We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the three months ended June 30, 2021, $376 million of Oaktree’s revenues was included in our Asset Management segment revenue.

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


AS AT DEC. 31, 2020 AND FOR THE THREE MONTHS ENDED JUN. 30, 2020 (MILLIONS)	Asset Management		Corporate Activities		Real Estate		Renewable Power		Infrastructure		Private Equity		Residential Development		Total Segments		Note
External revenues	$	55	$	101	$	1,848	$	1,035	$	2,096	$	7,247	$	447	$	12,829
Inter-segment and other revenues1	688		(13)		8		—		1		144		—		828		i
Segmented revenues	743		88		1,856		1,035		2,097		7,391		447		13,657
FFO from equity accounted investments1	67		(5)		186		6		284		80		4		622		ii
Interest expense	—		(96)		(755)		(220)		(261)		(379)		(4)		(1,715)		iii
Current income taxes	—		(17)		—		4		(57)		(23)		(8)		(101)		iv
Funds from operations1	355		(59)		89		566		84		137		(11)		1,161		v
Common equity	4,947		(6,986)		19,331		5,154		2,552		3,965		2,730		31,693
Equity accounted investments	4,530		830		21,024		1,444		10,530		2,623		346		41,327
Additions to non-current assets2	64		8		1,963		341		418		311		12		3,117

1.We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the three months ended June 30, 2020, $290 million of Oaktree’s revenues was included in our Asset Management segment revenue.

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


FOR THE SIX MONTHS ENDED JUN. 30, 2021 (MILLIONS)	Asset Management		Corporate Activities		Real Estate		Renewable Power		Infrastructure		Private Equity		Residential Development		Total Segments		Note
External revenues	$	168	$	180	$	4,320	$	2,368	$	5,616	$	20,846	$	1,198	$	34,696
Inter-segment and other revenues1	2,539		(7)		16		—		4		283		—		2,835		i
Segmented revenues	2,707		173		4,336		2,368		5,620		21,129		1,198		37,531
FFO from equity accounted investments1	311		23		335		77		828		173		25		1,772		ii
Interest expense	—		(208)		(1,524)		(436)		(734)		(725)		(34)		(3,661)		iii
Current income taxes	—		(24)		(32)		(38)		(190)		(312)		(5)		(601)		iv
Funds from operations1	1,324		(94)		439		911		447		1,329		65		4,421		v


Additions to non-current assets2	—		860		9,652		3,248		1,342		2,461		77		17,640

1.We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the six months ended June 30, 2021, $1.3 billion of Oaktree’s revenues was included in our Asset Management segment revenue.

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


FOR THE SIX MONTHS ENDED JUN. 30, 2020 (MILLIONS)	Asset Management		Corporate Activities		Real Estate		Renewable Power		Infrastructure		Private Equity		Residential Development		Total Segments		Note
External revenues	$	116	$	208	$	4,463	$	2,065	$	4,369	$	17,339	$	855	$	29,415
Inter-segment and other revenues1	1,433		(17)		15		—		2		265		—		1,698		i
Segmented revenues	1,549		191		4,478		2,065		4,371		17,604		855		31,113
FFO from equity accounted investments1	119		(24)		417		15		619		196		6		1,348		ii
Interest expense	—		(184)		(1,597)		(448)		(552)		(774)		(12)		(3,567)		iii
Current income taxes	—		(39)		(15)		(16)		(116)		(98)		(13)		(297)		iv
Funds from operations1	735		(133)		308		632		221		302		(20)		2,045		v


Additions to non-current assets2	64		87		3,877		1,195		809		2,330		31		8,393

1.We equity account for our investment in Oaktree and include our share of the FFO and FFO from equity accounted investments at 62%. However, for segment reporting, Oaktree’s revenue is shown on a 100% basis. For the six months ended June 30, 2020, $597 million of Oaktree’s revenues was included in our Asset Management segment revenue.

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