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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net income $ 1,853 $ 5,105
Other income and gains (1,247) (6,501)
Equity accounted earnings, net of distributions (641) (441)
Fair value changes 2,520 1,396
Depreciation and amortization 9,737 9,075
Deferred income taxes (341) (897)
(Proceeds from) Investments in residential inventory (108) 152
Net change in non-cash working capital balances (4,204) (1,422)
Cash flows from (used in) operating activities 7,569 6,467
Financing activities    
Corporate borrowings arranged 2,082 1,246
Corporate borrowings repaid (571) (550)
Commercial paper and borrowings, net 736 31
Non-recourse borrowings arranged 109,844 83,620
Non-recourse borrowings repaid (84,288) (71,328)
Non-recourse credit facilities, net (24) (3,558)
Subsidiary equity obligations issued 662 277
Subsidiary equity obligations redeemed (14) (456)
Deposits From Related Party 1,471 173
Deposit From Related Parties Repaid (1,121) (1,261)
Capital provided by non-controlling interests 13,444 29,401
Capital repaid to non-controlling interests (4,365) (2,175)
Repayment of lease liabilities (1,564) (969)
Receipt (settlement) of deferred consideration 68 (483)
Distributions to non-controlling interests 7,815 12,842
Distributions to shareholders (663) (602)
Cash flows from (used in) financing activities 26,900 19,927
Acquisitions    
Investment properties (11,141) (8,213)
Property, plant and equipment (11,172) (8,069)
Equity accounted investments (7,074) (10,492)
Financial assets and other (11,405) (51,887)
Acquisition of subsidiaries, net of cash acquired (6,453) (12,922)
Dispositions    
Investment properties 4,107 1,573
Property, plant and equipment 2,773 1,175
Equity accounted investments 1,087 3,258
Financial assets and other 8,216 50,086
Disposition of subsidiaries, net of cash disposed 1,049 5,688
Restricted cash and deposits 49 41
Cash flows from (used in) investing activities (29,964) (29,762)
Cash and cash equivalents    
Change in cash and cash equivalents 4,505 (3,368)
Foreign exchange revaluation (461) 205
Balance, beginning of period 11,222 14,396
Balance, end of period 15,051 11,222
Supplemental Cash Flow Information [Abstract]    
Net change in cash classified within assets held for sale (215) (11)
Incomes Taxes Paid Classified As Supplemental Cash Flow Disclosure 2,674 1,677
Interest Paid Classified As Supplemental Cash Flow Disclosure 14,289 13,902
Common shares    
Financing activities    
Common shares repurchased (1,001) (624)
Common shares issued 19 49
Preferred shares    
Financing activities    
Common shares repurchased $ 0 $ (22)