The following table summarizes the balance sheet impact as a result of business combinations that occurred in the year ended December 31, 2022. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis:


(MILLIONS)	Private Equity		Real Estate		Renewable Power and Transition		Infrastructure and Other		Total
Cash and cash equivalents	$	953	$	605	$	85	$	7	$	1,650
Accounts receivable and other	1,446		302		379		10		2,137
Other financial assets	4,558		188		12		11		4,769
Inventory	485		5		31		2		523

Equity accounted investments	461		222		—		—		683
Investment properties	—		9,805		—		—		9,805
Property, plant and equipment	1,502		3,224		3,087		160		7,973
Intangible assets	11,594		82		—		302		11,978
Goodwill	8,155		456		691		279		9,581
Deferred income tax assets	62		—		10		1		73
Total assets	29,216		14,889		4,295		772		49,172
Less:
Accounts payable and other	(2,300)		(795)		(1,201)		(55)		(4,351)
Non-recourse borrowings	(4,924)		(3,707)		(424)		(52)		(9,107)
Deferred income tax liabilities	(1,911)		(878)		(50)		(18)		(2,857)
Non-controlling interests1	(96)		(1,788)		(32)		(64)		(1,980)
	(9,231)		(7,168)		(1,707)		(189)		(18,295)
Net assets acquired	$	19,985	$	7,721	$	2,588	$	583	$	30,877
Bargain purchase gain	—		370		—		—		370
Consideration2	$	19,985	$	7,351	$	2,588	$	583	$	30,507

Brookfield recorded $4.0 billion of revenue and $528 million of net loss in 2022 from the acquired operations as a result of the acquisitions made during the year. If the acquisitions had occurred at the beginning of the year, they would have contributed $8.1 billion and $344 million to total revenues and net loss, respectively.

The following table summarizes the balance sheet impact as a result of significant business combinations that occurred in 2022. The valuations of the assets acquired are still under evaluation and as such the business combinations have been accounted for on a provisional basis.


	Private Equity						Real Estate						Renewable Power and Transition
(MILLIONS)	CDK		Scientific Games		La Trobe		Watermark Lodging		German Office Portfolio		Irish Office		U.S. Wind Portfolio		U.S. Utility-Scale Solar
Cash and cash equivalents	$	301	$	61	$	155	$	172	$	357	$	74	$	26	$	22
Accounts receivable and other	544		272		37		144		93		1		280		58

Other financial assets	32		4		4,511		—		105		4		2		—
Inventory	15		169		—		5		—		—		—		—
Equity accounted investments	175		277		—		222		—		—		—		—
Investment properties	—		—		—		—		5,429		1,359		—		—
Property, plant and equipment	82		313		4		3,161		35		8		1,796		561
Intangible assets	4,827		3,983		646		77		—		—		—		—
Goodwill	4,580		1,235		392		—		453		3		9		287
Deferred income tax assets	2		4		9		—		—		—		—		—
Total assets	10,558		6,318		5,754		3,781		6,472		1,449		2,113		928
Less:
Accounts payable and other	(995)		(333)		(39)		(327)		(243)		(42)		(970)		(77)
Non-recourse borrowings	(72)		—		(4,471)		(317)		(1,965)		(209)		(25)		(48)
Deferred income tax liabilities	(1,098)		(206)		(194)		—		(760)		(84)		—		(43)
Non-controlling interests1	(81)		—		—		—		(1,509)		—		(26)		—
	(2,246)		(539)		(4,704)		(644)		(4,477)		(335)		(1,021)		(168)
Net assets acquired	$	8,312	$	5,779	$	1,050	$	3,137	$	1,995	$	1,114	$	1,092	$	760

Consideration2	$	8,312	$	5,779	$	1,050	$	3,137	$	1,995	$	1,114	$	1,092	$	760

On April 4, 2022, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in Scientific Games, LLC (“Scientific Games”), a service provider to government-sponsored lottery programs with capabilities in game design, distribution, systems and terminals and turnkey technology solutions. The total consideration paid for the business was $5.8 billion, funded with debt and equity. Goodwill of $1.2 billion was recognized, which is not deductible for income tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $1.1 billion and $83 million, respectively.

On May 31, 2022, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in La Trobe Financial Services Pty Limited (“La Trobe”), an Australian non-bank residential mortgage lender. The total consideration paid for the business was $1.1 billion, funded with debt, equity, non-cash and contingent consideration. Goodwill of $392 million was recognized, which is not deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $402 million and $90 million, respectively.

On July 6, 2022, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in CDK Global, Inc. (“CDK Global”), a provider of technology services and software solutions to automotive dealers. The total consideration paid for the business was $8.3 billion, funded with debt and equity. Goodwill of $4.6 billion was recognized, which is not deductible for income tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $1.8 billion and $338 million, respectively.

A subsidiary of the company, alongside institutional partners, acquired a 95% interest in a German office portfolio. The transaction was acquired in stages and was accounted for as a business combination as of the date in which control was attained on January 11, 2022. The total consideration paid for the portfolio was $2.0 billion, comprising of $188 million of debt and an existing 46% interest valued at $1.8 billion. Goodwill of $453 million was recognized, which is not deductible for income tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred if the transaction had occurred at the beginning of the year are $238 million and $17 million, respectively.

On June 15, 2022, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in a real estate investment trust comprised of primarily office properties in Ireland. The total consideration paid for the business was $1.1 billion. Goodwill of $3 million was recognized. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $61 million and $49 million, respectively.

On October 21, 2022, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in Watermark Lodging Trust. The total consideration paid for the portfolio was $3.1 billion. No goodwill was recognized on acquisition. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of the year are $760 million and $5 million, respectively.

On January 24, 2022, a subsidiary of the company, alongside institutional partners, completed the acquisition of 100% of a utility scale development business in the U.S. The total consideration paid for the portfolio was $760 million. Goodwill of $287 million was recognized, which is not deductible for income tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $11 million and $68 million, respectively.

On December 16, 2022, a subsidiary of the company, alongside institutional partners, completed the acquisition of 100% of a renewable developer in the U.S. The total consideration paid for the business was $1.1 billion. Goodwill of $9 million was recognized, which is not deductible for income tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of the year are $82 million and $7 million, respectively.


(MILLIONS)	Private Equity		Infrastructure		Real Estate		Renewable Power and Transition and Other		Total
Cash and cash equivalents	$	288	$	217	$	78	$	3	$	586
Accounts receivable and other	826		455		104		100		1,485

Inventory	690		23		2		6		721
Equity accounted investments	20		—		7		45		72
Investment properties	—		—		988		—		988
Property, plant and equipment	2,518		10,179		2,172		2,366		17,235
Intangible assets	4,535		3,734		67		—		8,336
Goodwill	3,960		2,400		113		118		6,591
Deferred income tax assets	6		9		—		—		15
Total assets	12,843		17,017		3,531		2,638		36,029
Less:
Accounts payable and other	(1,811)		(3,271)		(131)		(188)		(5,401)
Non-recourse borrowings	(132)		(6,698)		(1,452)		(975)		(9,257)
Deferred income tax liabilities	(1,215)		(1,430)		(113)		—		(2,758)
Non-controlling interests1	(22)		(156)		(3)		(2)		(183)
	(3,180)		(11,555)		(1,699)		(1,165)		(17,599)
Net assets acquired	$	9,663	$	5,462	$	1,832	$	1,473	$	18,430

Consideration2	$	9,663	$	5,462	$	1,832	$	1,473	$	18,430

Brookfield recorded $2.8 billion of revenue and $3 million of net income in 2021 from the acquired operations as a result of the acquisitions made in 2021 If the acquisitions had occurred at the beginning of 2021, they would have contributed $8.6 billion and $351 million to total revenue and net income, respectively.


	Private Equity						Infrastructure		Real Estate		Renewable Power and Transition
(MILLIONS)	Modulaire		DexKo		Aldo		IPL		Life Sciences Assets		U.S. Wind		U.S. Distributed Generation
Cash and cash equivalents	$	100	$	106	$	59	$	121	$	6	$	1	$	1
Accounts receivable and other	418		278		31		420		1		71		28

Inventory	104		436		48		20		—		6		—
Equity accounted investments	—		19		—		—		—		—		—
Investment properties	—		—		—		—		988		—		—
Property, plant and equipment	1,963		462		5		9,865		—		1,643		723
Intangible assets	1,941		2,212		295		2,569		2		—		—
Goodwill	1,667		1,408		421		2,096		36		—		117
Deferred income tax assets	—		6		—		—		—		—		—
Total assets	6,193		4,927		859		15,091		1,033		1,721		869
Less:
Accounts payable and other	(817)		(637)		(136)		(3,012)		(7)		(142)		(45)
Non-recourse borrowings	(27)		(2)		—		(6,185)		—		(835)		(140)
Deferred income tax liabilities	(590)		(504)		(100)		(1,229)		(36)		—		—
Non-controlling interests1	—		(10)		—		—		—		—		—
	(1,434)		(1,153)		(236)		(10,426)		(43)		(977)		(185)
Net assets acquired	$	4,759	$	3,774	$	623	$	4,665	$	990	$	744	$	684

Consideration2	$	4,759	$	3,774	$	623	$	4,665	$	990	$	744	$	684

On August 31, 2021, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in Aldo Componentes Eletrônicos LTDA (“Aldo”), a leading distributor of solar power solutions for the distributed generation market in Brazil. The total consideration paid for the business was $623 million, comprising of $295 million of cash consideration and $328 million of contingent consideration payable to the former shareholder if certain performance targets are met. Goodwill of $421 million was recognized, which is not deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of 2021 are $553 million and $68 million, respectively.

On October 4, 2021, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in DexKo Global Inc. (“DexKo”), a leading global manufacturer of highly engineered components primarily for industrial trailers and other towable-equipment providers. The total consideration paid for the business was $3.8 billion, comprising of $1.1 billion of cash, $2.6 billion of debt raised for the acquisition and $30 million of contingent consideration. Goodwill of $1.4 billion was recognized, which is not deductible for income tax purposes. Total revenues and net loss that would have been recorded if the transaction had occurred at the beginning of 2021 are $2.5 billion and $139 million, respectively.

On December 15, 2021, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in Modulaire Investments 2 S.à.r.l. (“Modulaire”), a provider of modular building leasing services in Europe and Asia-Pacific. The total consideration paid for the business was $4.8 billion, comprising of $1.6 billion of cash and $3.2 billion of debt raised for the acquisition. Goodwill of $1.7 billion was recognized, which is not deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of 2021 are $1.7 billion and $135 million, respectively.

During 2021, a subsidiary of the company, alongside institutional partners, acquired a 100% interest in Inter Pipeline Ltd. (“IPL”). The transaction was accounted for as a business combination as of the initial acquisition on August 20, 2021. The total consideration paid for the business was $4.7 billion, comprising of $1.9 billion of cash, $0.2 billion of BIPC exchangeable LP units, $1.1 billion of BIPC exchangeable shares, $0.9 billion of debt raised on closing, and an existing 10% interest valued at $0.6 billion on the initial acquisition date. Goodwill of $2.1 billion was recognized, which is not deductible for income tax purposes. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of 2021 are $2.5 billion and $274 million, respectively.

On June 16, 2021, a subsidiary of the company, alongside institutional partners, acquired a portfolio of life sciences assets in the U.K., through our Brookfield Strategic Real Estate Partners III fund. The total consideration paid for the portfolio was $990 million, comprising of $352 million of cash with the remainder funded through non-recourse borrowings raised concurrently on closing. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of 2021 are $34 million and $86 million, respectively.

On March 24, 2021, a subsidiary of the company, alongside institutional partners, completed the acquisition of 100% of a portfolio of three wind generation facilities and development projects located in the U.S. The total consideration paid for the portfolio was $744 million. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of 2021 are $183 million and $12 million, respectively.

On March 31, 2021, a subsidiary of the company, alongside institutional partners, completed the acquisition of 100% of a distributed generation business in the U.S. The total consideration paid for the business was $684 million. Total revenues and net income that would have been recorded if the transaction had occurred at the beginning of 2021 are $79 million and $6 million, respectively.