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SEGMENTED INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2024
Disclosure of operating segments [abstract]  
Disclosure of entity's operating segments Reportable Segment Measures
AS AT AND FOR THE THREE MONTHS ENDED JUN. 30, 2024
(MILLIONS)
Asset Management
Wealth Solutions2,3
Renewable Power and Transition
Infrastructure
Private Equity
Real Estate
Corporate
Activities		TotalNote
External revenues$2,633 n/a$1,549 $5,246 $12,128 $1,393 $101 $23,050 
Inter-segment and other revenues1
1,003 n/a— (1)24 10 (40)996 i
Segmented revenues3,636 n/a1,549 5,245 12,152 1,403 61 24,046 
DE696 292 n/an/an/an/an/an/aii
FFO1
n/an/a139 140 189 n/a785 n/aii
NOIn/an/an/an/an/a803 n/an/aii
Common equity18,100 8,990 4,166 2,344 3,236 23,729 (19,333)41,232 
1.We equity account for our investment in Oaktree and include our share of the FFO at our ownership of 73%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the three months ended June 30, 2024, $346 million of Oaktree’s revenue was included in our Asset Management segment revenue.
2.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.
3.Our common equity in our Wealth Solutions business includes $1.7 billion of distributable operating earnings retained in this business since inception.
AS AT DEC. 31, 2023
AND FOR THE THREE MONTHS ENDED JUN. 30, 2023
(MILLIONS)
Asset Management
Wealth Solutions3
Renewable Power and Transition
Infrastructure
Private Equity
Real Estate
Corporate
Activities		TotalNote
External revenues$2,601 n/a$1,540 $4,354 $13,628 $1,495 $50 $23,668 
Inter-segment and other revenues1
1,180 n/a— 1 (5)10 26 1,212 i
Segmented revenues3,781 n/a1,540 4,355 13,623 1,505 76 24,880 
DE777 160 n/an/an/an/an/an/aii
FFO1
n/an/a143 243 121 n/a(133)n/aii
NOI2
n/an/an/an/an/a781 n/an/aii
Common equity19,484 6,144 4,887 2,537 3,291 22,413 (17,082)41,674 
1.We equity account for our investment in Oaktree and include our share of the FFO at our ownership of 68%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the three months ended June 30, 2023, $333 million of Oaktree’s revenue was included in our Asset Management segment revenue.
2.For comparability, we have excluded property management and development fees of $44 million for the three months ended June 30, 2023 as they are no longer recognized in NOI.
3.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.

FOR THE SIX MONTHS ENDED JUN. 30, 2024
(MILLIONS)
Asset Management
Wealth Solutions2
Renewable Power and Transition
Infrastructure
Private Equity
Real Estate
Corporate
Activities		TotalNote
External revenues$5,170 n/a$3,084 $10,525 $24,295 $2,721 $162 $45,957 
Inter-segment and other revenues1
2,472 n/a— 1 38 19 (83)2,447 i
Segmented revenues7,642 n/a3,084 10,526 24,333 2,740 79 48,404 
DE1,534 565 n/an/an/an/an/an/aii
FFO1
n/an/a230 282 406 n/a572 n/aii
NOIn/an/an/an/an/a1,630 n/an/aii
1.We equity account for our investment in Oaktree and include our share of the FFO at our ownership of 73%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the six months ended June 30, 2024, $1.2 billion of Oaktree’s revenue was included in our Asset Management segment revenue.
2.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.
FOR THE SIX MONTHS ENDED JUN. 30, 2023
(MILLIONS)
Asset Management
Wealth Solutions3
Renewable Power and Transition
Infrastructure
Private Equity
Real Estate
Corporate
Activities		TotalNote
External revenues$5,072 n/a$2,903 $8,638 $27,364 $2,918 $70 $46,965 
Inter-segment and other revenues1
2,597 n/a— 3 40 18 26 2,684 i
Segmented revenues7,669 n/a2,903 8,641 27,404 2,936 96 49,649 
DE1,655 305 n/an/an/an/an/an/aii
FFO1
n/an/a226 375 370 n/a(280)n/aii
NOI2
n/an/an/an/an/a1,591 n/an/aii
1.We equity account for our investment in Oaktree and include our share of the FFO at our ownership of 68%. For segment reporting, Oaktree’s revenue is shown on a 100% basis. For the six months ended June 30, 2023, $982 million of Oaktree’s revenue was included in our Asset Management segment revenue.
2.For comparability, we have excluded property management and development fees of $111 million for the six months ended June 30, 2023 as they are no longer recognized in NOI.
3.We equity account for our investment in BNRE, and as such do not generate consolidated external or inter-segment revenues.
Summary of reconciliation of FFO to net income
The following table reconciles net income to the total of the segments’ measures of profit or loss.
Three Months EndedSix Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
Note2024202320242023
Net income (loss)$(285)$1,512 $234 $1,936 
Add/(Deduct):
Equity accounted fair value changes and other non-FFO items444 703 1,073 1,507 
Fair value changes753 (62)595 (100)
Depreciation and amortization2,435 2,214 4,910 4,402 
Deferred income taxes(55)(151)(99)(243)
Realized disposition gains in fair value changes or equityiii1,153 283 1,179 399 
Non-controlling interests on above items(2,275)(3,127)(4,760)(5,349)
Real Estate segment disposition gains (173)(283)(194)(345)
Real Estate segment adjustments and other, net1
1,047 1,003 2,281 2,035 
Total segments’ measures of profit or loss2
$3,044 $2,092 $5,219 $4,242 
1.Primarily comprised of Real Estate segment interest expense and corporate costs, net of investment income and other, net of non-controlling interests, as well as development costs on early stage projects in our Renewable Power and Transition segment.
2.Comprised of DE from our Asset Management and Wealth Solutions segments, FFO from our Renewable Power and Transition, Infrastructure, Private Equity, and Corporate Activities segments, and NOI from our Real Estate segment.
Summary of financial information by geographic regions
The company’s revenues by location are as follows:
Three Months EndedSix Months Ended
FOR THE PERIODS ENDED JUN. 30
(MILLIONS)
2024202320242023
U.S.$6,337 $6,900 $12,720 $13,852 
U.K.5,558 5,915 11,076 11,401 
Canada2,475 2,614 4,653 5,232 
Australia1,646 1,483 3,109 2,957 
Brazil1,325 1,385 2,676 2,698 
India860 729 1,769 1,405 
Colombia633 557 1,295 1,087 
Germany543 511 1,131 1,032 
Other Europe2,268 2,297 4,613 4,708 
Other Asia800 682 1,664 1,452 
Other605 595 1,251 1,141 
$23,050 $23,668 $45,957 $46,965 
The company’s consolidated assets by location are as follows:
AS AT JUN. 30, 2024 AND DEC. 31, 2023
(MILLIONS)
20242023
U.S.$222,988 $211,947 
Canada49,407 50,899 
U.K.36,450 36,289 
Australia26,605 27,599 
Brazil26,466 29,306 
India23,643 23,093 
Germany15,581 15,636 
Colombia12,394 13,344 
Other Europe45,722 45,583 
Other Asia20,441 21,149 
Other17,617 15,250 
$497,314 $490,095