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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating activities        
Net income (loss) $ (285) $ 1,512 $ 234 $ 1,936
Other income and gains (244) (1,483) (484) (1,864)
Equity accounted earnings, net of distributions (196) (63) (410) (21)
Fair value changes 753 (62) 595 (100)
Depreciation and amortization 2,435 2,214 4,910 4,402
Deferred income taxes (55) (151) (99) (243)
Investments in residential inventory (129) 56 (211) 34
Net change in non-cash working capital balances (1,581) (1,617) (3,519) (2,620)
Cash flows from (used in) operating activities 698 406 1,016 1,524
Financing activities        
Corporate borrowings arranged 646 550 1,389 550
Corporate borrowings repaid (200) 0 (571) 0
Commercial paper and borrowings, net 617 662 1,924 1,635
Non-recourse borrowings arranged 32,043 19,042 54,147 38,509
Non-recourse borrowings repaid (24,676) (18,490) (38,487) (31,326)
Non-recourse credit facilities, net 238 (5,867) (5,505) (6,233)
Subsidiary equity obligations issued (2) (6) (10) (7)
Deposits From Related Party 97 0 685 0
Deposit From Related Parties Repaid (118) (675) (573) (1,000)
Capital provided by non-controlling interests 2,935 8,194 8,300 16,618
Capital repaid to non-controlling interests (1,416) (458) (3,141) (1,404)
Repayment of lease liabilities (345) (211) (803) (416)
Receipt (settlement) of deferred consideration (5) (7) 88 (29)
Distributions to non-controlling interests 1,997 2,777 3,757 5,773
Distributions to shareholders (166) (151) (332) (302)
Cash flows from (used in) financing activities 7,369 (228) 12,578 10,538
Acquisitions        
Investment properties (3,228) (1,819) (4,825) (4,393)
Property, plant and equipment (2,385) (1,651) (5,286) (3,203)
Equity accounted investments (1,732) (1,457) (2,360) (5,022)
Financial assets and other (3,865) (19,673) (5,455) (42,833)
Acquisition of subsidiaries, net of cash acquired (88) (93) (804) (5,314)
Dispositions        
Investment properties 252 463 384 520
Property, plant and equipment 510 265 702 506
Equity accounted investments 201 2,134 831 2,386
Financial assets and other 1,676 19,811 3,242 41,412
Disposition of subsidiaries, net of cash disposed 158 1,295 245 1,670
Restricted cash and deposits 172 (137) 124 107
Cash flows from (used in) investing activities (8,329) (862) (13,202) (14,164)
Cash and cash equivalents        
Change in cash and cash equivalents (262) (684) 392 (2,102)
Foreign exchange revaluation (187) 108 (300) 187
Balance, beginning of period 11,742 13,049 11,222 14,396
Balance, end of period 11,249 12,427 11,249 12,427
Supplemental Cash Flow Information [Abstract]        
Net change in cash classified within assets held for sale (44) (46) (65) (54)
Common shares        
Financing activities        
Common shares repurchased (284) (36) (786) (308)
Common shares issued 2 2 10 46
Preferred shares        
Financing activities        
Common shares repurchased $ 0 $ 0 $ 0 $ (22)