ORGANIZATION AND CAPITAL MANAGEMENT (Tables)

6 Months Ended

Jun. 30, 2024

Management Commentary Explanatory [Abstract]

Summary of the Corporation's Capital [Table]

As at June 30, 2024, the Corporation’s capital totaled $60.4 billion (December 31, 2023 – $58.2 billion), and is computed as follows:

AS AT JUN. 30, 2024 AND DEC. 31, 2023 (MILLIONS)	2024		2023
Cash and cash equivalents	$	112	$	134
Other financial assets	4,408		4,004
Common equity in investments	55,649		53,523
Other assets and liabilities of the Corporation	219		506
Corporation’s Capital	$	60,388	$	58,167
Corporation’s Capital is comprised of the following:
Common equity	$	41,232	$	41,674
Preferred equity	4,103		4,103
Non-controlling interest	230		230
Corporate borrowings	14,823		12,160
	$	60,388	$	58,167

Reconciliation of the Corporation's Capital [Table]

A reconciliation of the Corporation’s capital to the company’s consolidated balance sheet as at June 30, 2024 is as follows:

AS AT JUN. 30, 2024 (MILLIONS)	The Corporation		Investments		Elimination1		Total Consolidated
Cash and cash equivalents	$	112	$	11,137	$	—	$	11,249
Other financial assets	4,408		26,206		—		30,614
Accounts receivable and other1	1,404		28,538		(977)		28,965
Inventory	—		11,841		—		11,841
Assets classified as held for sale	—		4,129		—		4,129
Equity accounted investments	2,407		59,878		—		62,285
Investment properties	18		127,217		—		127,235
Property, plant and equipment	131		145,997		—		146,128
Intangible assets	83		37,089		—		37,172
Goodwill	—		34,270		—		34,270
Deferred income tax assets	374		3,052		—		3,426
Accounts payable and other1	(3,769)		(54,463)		977		(57,255)
Liabilities associated with assets classified as held for sale	—		(538)		—		(538)
Deferred income tax liabilities	(427)		(23,993)		—		(24,420)
Subsidiary equity obligations	(2)		(5,019)		—		(5,021)
Total	4,739		405,341		—		410,080
Common equity in investments2	55,649		—		(55,649)		—
Corporation’s Capital	60,388		405,341		(55,649)		410,080
Less:
Corporate borrowings	14,823		—		—		14,823
Non-recourse borrowings of managed entities	—		227,693		—		227,693
Amounts attributable to preferred equity	4,103		—		—		4,103
Amounts attributable to non-controlling interests	230		121,999		—		122,229
Common equity	$	41,232	$	55,649	$	(55,649)	$	41,232

1.Contains the gross up of intercompany balances, including accounts receivable and other, and accounts payable and other of $977 million and $977 million, respectively, between entities within the Corporation and its investments.

2.Represents the carrying value of the Corporation’s investments.

A reconciliation of the Corporation’s capital to the company’s consolidated balance sheet as at December 31, 2023 is as follows:

AS AT DEC. 31, 2023 (MILLIONS)	The Corporation		Investments		Elimination1		Total Consolidated
Cash and cash equivalents	$	134	$	11,088	$	—	$	11,222
Other financial assets	4,004		24,320		—		28,324
Accounts receivable and other1	1,191		27,836		(515)		28,512
Inventory	—		11,412		—		11,412
Assets classified as held for sale	—		2,489		—		2,489
Equity accounted investments	2,081		57,043		—		59,124
Investment properties	21		124,131		—		124,152
Property, plant and equipment	144		147,473		—		147,617
Intangible assets	84		38,910		—		38,994
Goodwill	—		34,911		—		34,911
Deferred income tax assets	489		2,849		—		3,338
Accounts payable and other1	(3,383)		(56,025)		515		(58,893)
Liabilities associated with assets classified as held for sale	—		(118)		—		(118)
Deferred income tax liabilities	(117)		(24,870)		—		(24,987)
Subsidiary equity obligations	(4)		(4,141)		—		(4,145)
Total	4,644		397,308		—		401,952
Common equity in investments2	53,523		—		(53,523)		—
Corporation’s Capital	58,167		397,308		(53,523)		401,952
Less:
Corporate borrowings	12,160		—		—		12,160
Non-recourse borrowings of managed entities	—		221,550		—		221,550
Amounts attributable to preferred equity	4,103		—		—		4,103
Amounts attributable to non-controlling interests	230		122,235		—		122,465
Common equity	$	41,674	$	53,523	$	(53,523)	$	41,674

1.Contains the gross up of intercompany balances, including accounts receivable and other, and accounts payable and other of $515 million and $515 million, respectively, between entities within the Corporation and its investments.

2.Represents the carrying value of the Corporation’s investments