INVENTORY

12 Months Ended

Dec. 31, 2024

Inventories [Abstract]

INVENTORY

INVENTORY

The following table presents the components of inventory:

AS AT DEC. 31 (MILLIONS)	2024		2023
Industrial products	$	2,174	$	2,303
Completed residential properties	1,542		1,396
Residential properties under development	1,376		2,109
Land held for development	1,073		1,715
Other1	2,293		3,889
Total	$	8,458	$	11,412

1.As at December 31, 2024, the significant components of other inventory are office, industrial, retail and commercial developments of $1.1 billion (2023 – $1.1 billion), and logistics buildings of $152 million (2023 – $773 million).

The current and non-current balances of inventory are as follows:

AS AT DEC. 31 (MILLIONS)	2024		2023
Current	$	5,418	$	7,060
Non-current	3,040		4,352
Total	$	8,458	$	11,412

During the year ended December 31, 2024, the company recognized $28.1 billion of inventory relating to cost of goods sold (2023 – $41.9 billion) and a $186 million expense for impaired inventory (2023 – $315 million). The carrying amount of inventory pledged as collateral as at December 31, 2024 was $4.2 billion (2023 – $5.4 billion).